World
Emirates President Speaks on Boeing 737 Max Crisis
On First Move, CNN’s Julia Chatterley interviewed the President of Emirates Tim Clark. Clark spoke about the Boeing 737 Max crisis and the uncertainty around Brexit.
Following two fatal crashes, Boeing was forced to ground its 737 Max planes in March 2019. This affected airlines across the world, including Emirates. Clark believes it has disrupted Boeing and compelled the company to re-evaluate itself, “This will be a real disruptor to Boeing, it is. I think they will re-examine themselves, that’s what they should be doing, turning themselves inside out.”
As well as affecting current flights, the grounding had an impact on orders for new 737 Max planes. Clark expresses doubt that Boeing’s competitor Airbus will be able to fulfil any extra orders, “For Airbus to crank up manufacturing plants to produce the Max cancellations is probably not going to be feasible.”
Boeing are hoping to have the 737 Max airborne again by the end of the year. However, Clark tells Chatterley that he feels this date will not be reached, “I would say sometime in the first quarter of next year, calendar – January, February, March, latest April.”
Clark goes on to describe Boeing as, “a company which is haemorrhaging cash”, but believes that, “They will get it right”, when it comes to solving the 737 Max crisis.
Emirates also have orders for the new Boeing 777X which was due to be delivered by next June. Again, Clark is doubtful that Boeing will reach this date, ““I would say that’s a little bit optimistic. Q3 of 2020 I would say… my money’s on Q1 (2021).”
Clark also spoke about Brexit and the uncertainty it is causing. He said that the Brexit process has been, “Pretty ugly”, and that deliberations cannot be allowed to go on for much longer, “This cannot go on indefinitely. And if it is allowed to go on indefinitely, the destabilisation of both the European economies and the UK will be out there for so long. It’s not a good place to be in.”
Highlights:
On how the 737 Max crisis has affected Boeing:
“This will be a real disruptor to Boeing, it is. I think they will re-examine themselves, that’s what they should be doing, turning themselves inside out to make sure that everybody is on the message that they always use to produce these excellent machines.”
On Airbus:
“The reality is that the opposition, the competitor (Airbus), cannot meet the obligations – the requirements rather, of the airlines that had the Max on order. So, for Airbus to crank up manufacturing plants to produce the Max cancellations is probably not going to be feasible.”
On Boeing’s 777X delivery in June:
“I would say that’s a little bit optimistic. Q3 of 2020 I would say… my money’s on Q1 if you’re going calendar April 1st, if you’re not it would be Q2 in calendar – calendar, I think we might be seeing them about then.”
On Boeing working to get the 737 Max airborne:
“I don’t see much going on with regards to, perhaps I’m being a bit disingenuous to Boeing, but it’s important that the regulators get this one sorted out.”
On when the 737 Max will be airborne:
“I would say sometime in the first quarter of next year, calendar – January, February, March, latest April.”
On whether Boeing will sort the crisis:
“They will get it right.”
On Boeing’s financial situation:
“A company which is haemorrhaging cash.”
On the Brexit process:
“The whole process over the last two, three years has been pretty ugly.”
On the Brexit date:
“I believe that there will be a Brexit. Whether it will be on October 31st, I’m not sure, but I believe that it will come.”
On Brexit instability:
“This cannot go on indefinitely. And if it is allowed to go on indefinitely, the destabilisation of both the European economies and the UK will be out there for so long. It’s not a good place to be in.”
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By Adedapo Adesanya
Nigeria regained its position as Africa’s leading destination for equity startup investment in the first half of 2026, raising $214 million in equity financing and a total of $254 million across equity and debt, according to the latest Africa: The Big Deal report.
The report, titled H1 2026: Mapping the Money, showed that Nigeria ranked second on the continent in total funding, behind Egypt, which attracted $327 million, while Kenya and South Africa followed with $126 million and $83 million, respectively.
However, the report noted that Egypt’s top position was largely driven by a single fundraising by electric mobility company Spiro, which secured $327 million, including $270 million in equity and $57 million in debt. Excluding debt financing, Nigeria emerged as Africa’s largest equity funding market in the first six months of the year.
According to the breakdown by Africa: The Big Deal, Nigeria’s equity funding of $214 million was higher than Egypt’s $183 million, while South Africa and Kenya attracted $66 million and $46 million, respectively.
Beyond funding value, Nigeria also led the continent in the number of startups that raised at least $100,000 during the review period, reclaiming the top spot after what the report described as an “underwhelming” second half of 2025.
The publication observed that Nigeria’s fundraising performance has remained relatively stable over the past few years and exceeded the $250 million mark for the first time since 2022, pointing to renewed investor confidence in the country’s startup ecosystem.
It also found that while the Big Four startup markets—Nigeria, Egypt, Kenya and South Africa—continued to dominate Africa’s investment landscape, their combined share of total funding stood at 58 per cent in the first half of 2026.
“Zooming back on the Big Four (110 out of 190 $100k+ deals, i.e. 58%), Nigeria is head and shoulders above its peers, with Egypt and Kenya almost tying, and South Africa in fourth position again,” the report noted.
The report highlighted contrasting performances among the continent’s largest startup ecosystems. While Nigeria and Egypt maintained strong funding momentum, Kenya recorded its weakest funding performance since early 2021 after a strong second half of 2025, and South Africa failed to attract $100 million in funding during the period despite leading the continent a year earlier.
Africa: The Big Deal also noted a broader shift in investor behaviour, with funding increasingly concentrated in larger transactions while early-stage investments continued to decline. According to the publication, the drop in smaller funding rounds reflects growing concerns about limited capital available for early-stage startups across Africa.
By Aduragbemi Omiyale
Accessing the US Dollar in the East Africa region has now been made easier with the expansion of the stablecoin settlement infrastructure of SCRYPT.
This development enables banks, payment providers and corporate treasury teams to move value into and out of the continent in real time.
Businesses paying international suppliers frequently have to convert local currency into USD before purchasing stablecoins for settlement, incurring FX conversions and spreads before any payment is made.
But SCRYPT is eliminating this intermediate conversion by enabling direct settlement corridors for local African currencies into stablecoins.
This development allows businesses to move from local currency to stablecoin settlement in a single licensed transaction, without first sourcing rationed bank dollars, as stablecoins are increasingly becoming settlement infrastructure rather than an investment product.
The expansion adds settlement support across four African currencies: the Kenyan shilling (KES), Tanzanian shilling (TZS), Rwandan franc (RWF) and Ugandan shilling (UGX). Each corridor is delivered through the same full-stack infrastructure our clients already use for trading, custody and treasury operations.
Speaking on this, the chief executive of SCRYPT, Norman Wooding, said, “Across Africa, stablecoin adoption is driven by economic need, not speculation.
“Businesses here are not chasing yield; they are trying to pay suppliers and manage treasury without losing margin to a banking system that rations dollars. Licensed, fair-rate dollar access is the clearest proof of what this infrastructure is for.”
Also commenting, the Managing Director of Markets & Trading at SCRYPT, Mr Gabriel Titopoulos, said, “Until now, reaching stablecoins from local African currencies meant buying scarce dollars and incurring several layers of conversion costs.
“SCRYPT removes this friction. Firms and payment providers can now settle straight from local currencies through live corridors, with local partners.”
World
African Graduates Association Promoting Multifaceted Initiatives With Russian Educational Institutions
By Kestér Kenn Klomegâh
In preparations for the third Russia-Africa Summit, scheduled for late October 2026, Dr Francois Ngan, deputy chairman of the Union of Associations of African Graduates of Soviet and Russian Universities, during an official working visit, has held a consultative meeting with Professor Vladimir Filippov, the President of the Russian University of Peoples’ Friendship (RUDN), and former Minister of Higher Education of Russia, Chairman of the National Commission for Accreditation of Higher Education.
RUDN is an educational institution established in 1960, primarily to provide higher education to Third World students. It has now become a popular multidisciplinary spot for many students, especially from developing countries. The university offers various academic programmes and has research infrastructure that comprises laboratories and interdisciplinary centres. The university is named after the former Congolese leader, Patrice Lumumba.
Dr Francois Ngan and Professor Filippov discussed the importance of the Graduates Association as a continental platform dedicated to strengthening unity, cooperation, and promoting shared progress among African graduates who studied in the former Soviet Union and in the Russian Federation. They also reviewed multifaceted initiatives that could bring together alumni associations from across Africa, whose members obtained education and professional training, and cultural experiences in Soviet and Russian institutions of higher learning.
Professor Filippov expressed optimism in addressing emerging challenges as a result of shifting geopolitical changes, emphasised strategic cooperation in the educational sphere with Africa, in general, and with the Republic of Cameroon, in particular, and further about the integration of African students during their studies in the Russian Federation.
The meeting also touched on academic and scientific work, the possibility of rewriting a scientific thesis, and the official organisation of transferring versions translated into six languages for the library of RUDN. Significant questions relating to Russia’s educational opportunities, collaborations and partnerships involving African countries were thoroughly discussed.
The Union of Associations of African Graduates of Soviet and Russian Universities was created under one continental umbrella to promote friendship, for professional networking, to engage in cultural exchange, and with particular emphasis on forging strategic cooperation between Africa and Russia.
