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Business Brief
By Business Insider Africa

Meet America’s Newest $1B Unicorn

A US startup just hit a $1 billion private valuation, joining billion-dollar private companies like SpaceX, OpenAI, and ByteDance. Unlike those other unicorns, you can invest in EnergyX.

Over 50,000 people already have. So have industry giants like General Motors and POSCO.

Why all the interest? EnergyX’s patented tech can recover up to 3X more lithium than traditional methods. That's a big deal, as demand for lithium is expected to 5X current production levels by 2040. Today, they’re moving toward commercial production, tapping into 100,000+ acres of lithium deposits in Chile, a potential $1.1B annual revenue opportunity at projected market prices.

Right now, you can invest at this pivotal growth stage for $13/share. But only through July 16. Become an early-stage EnergyX shareholder before the deadline.

Energy Exploration Technologies, Inc. (“EnergyX”) has engaged Beehiiv to publish this communication in connection with EnergyX’s ongoing Regulation A offering. Beehiiv has been paid in cash and may receive additional compensation. Beehiiv and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX’s offering materials. EnergyX’s Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty.

From the Editor

For months, Nigeria's naira-for-crude policy has been seen as a key part of supporting local refining and easing pressure on foreign exchange. That is why Dangote Refinery's decision to price refined petroleum products in U.S. dollars marks an important shift.

The refinery says the move is aimed at managing exchange-rate risks as more crude purchases are billed in dollars while many local sales had remained in naira.

The real test now is whether businesses can absorb the change without passing even more costs to consumers.

Victor Inusa
Victor Inusa,
Newsletter Editor.

Today’s Must Read

Sudan’s fragile fight against famine faces new threat as Gulf conflict drives up farming costs

(Photo Credit: Amnestin International/Tim McKulka)

Around 19.5 million people in Sudan are facing acute food insecurity as conflict, funding shortages and rising farming costs threaten recent progress against famine.

The World Food Programme says more than 100,000 people remain in famine-like conditions, while a $646 million funding gap has forced cuts to food assistance and rations.

At the same time, higher diesel prices and fertiliser shortages linked to disruptions in the Gulf are increasing the cost of farming during the current planting season, raising concerns over future harvests and worsening food shortages. Read more…

The Big 3

🇿🇦 South African billionaire behind $3 billion infrastructure fund moves closer to owning the country's largest domestic airline

Harith Aviation has moved closer to acquiring Safair Holdings after South Africa's Competition Commission recommended approval of the deal, subject to conditions.

Harith agreed to keep strict information barriers and ensure fair airport access for all airlines, while final approval now rests with the Competition Tribunal. Read more…

🇧🇼 Botswana unearths massive 1,305-carat diamond, marking its 10th record-shattering find over 1,000 carats

Botswana's Karowe mine has recovered a 1,305.4-carat diamond, the tenth stone weighing more than 1,000 carats found at the mine.

The gem was recovered using X-ray technology designed to preserve large diamonds, reinforcing confidence in the mine's long-term value as it prepares for underground operations. Read more…

🇿🇦 Africa’s largest oil refinery switches to the dollar for its new pricing system

Dangote Refinery has introduced U.S. dollar pricing for refined petroleum products, ending its naira-based sales system. Existing naira invoices have been cancelled, with payments now required in dollars.

The refinery said the change addresses exchange-rate risks created by buying crude oil in dollars while selling many products in naira. Read more…

Quote Of The Day

If you know how to do things, you will always have a job... If you know why you do them, you will always be a leader.

— Strive Masiyiwa

Introducing The First Agentic CRM

Get revenue agents, workflows, and automations across every stage of your motion. Access customer data in real time through Attio's web app, MCP, API, and SDK.

Then Ask Attio anything about your business and get instant answers.

It's the CRM that runs the work behind every win.

Geopolitics & Power

(Photo Credit: Yasuo Osakabe)

🇺🇸 The U.S. hands another multi-purpose military aircraft to one of its most stable African allies

Botswana has received another C-130H Hercules military transport aircraft from the United States through the Excess Defence Articles (EDA) programme. This delivery follows a previous C-130H donation in May 2024 to strengthen the Botswana Defence Force's strategic airlift capability.

The fleet supports domestic operations and regional SADC, AU, and UN missions. Read more…

Global Trends, African Impact

🌍 Africa’s poorest countries are sending more money abroad than they receive to build their economies

Africa’s 38 low-income countries face an estimated $120 billion external financing gap in 2026. This shortfall occurs as developing nations paid $741 billion more in external debt service than they received in fresh financing between 2022 and 2024.

Meanwhile, repayments to China are now four times larger than new lending, as its massive lending boom has turned into a repayment cycle. Read more…

Introducing The First Agentic CRM

Get revenue agents, workflows, and automations across every stage of your motion. Access customer data in real time through Attio's web app, MCP, API, and SDK.

Then Ask Attio anything about your business and get instant answers.

It's the CRM that runs the work behind every win.

Did You Know?

(Photo Credit: theintrepidguide.com)

There are more than 7,000 languages spoken around the world today. Remarkably, about 30% of these linguistic traditions originate in Africa, making the continent home to over 2,000 active languages and representing one of the most culturally diverse geographic landscapes on Earth.

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