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Olympic gold: Letsile Tebogo returns to rousing welcome in Botswana

Botswana gave a rapturous welcome to Letsile Tebogo on Tuesday as the sprinter returned home with the southern African country’s first-ever Olympic gold medal. Families with children, elderly people and young supporters waved Botswana’s sky blue and black national flag as the Olympic team landed back in the capital Gaborone. Hundreds of supporters had gathered at the small airport, benefiting from an impromptu half-day holiday declared by President Mokgweetsi Masisi to celebrate Tebogo’s success. Before greeting the athletes, Masisi danced on the tarmac as an aid held an umbrella to shelter him from the sun. Tebogo, 21, became the first African to win the men’s 200m, in an African record time of 19.46sec, when he powered past Americans Kenny Bednarek and Noah Lyles in Paris on August 8. His gold as well as silver in the men’s 4x400m relay, boosted the country’s total Olympic medal tally to four. Outside the airport, traditional dancers wearing animal skins and beads kicked off a welcoming ceremony that was to later continue at the national stadium. Masisi had already granted the country of 2.3 million people half a day off to party on August 9. Tebogo is only the second African athlete to win an Olympic medal in the men’s 200m, after Namibian Frankie Fredericks took silver in Atlanta in 1996. Botswana won their first Olympic medal at the 2012 London Games when Nijel Amos took silver in the 800m. Its men’s 4x400m relay team took bronze at Tokyo 2020. Botswana’s success at the Paris Olympics helped to raise Africa’s medal haul to 39, two more than at the Tokyo Games, with Kenya scooping 11 in the French capital. Half of the line-up at the men’s 200m where Tebogo excelled were athletes from Africa, with the continent rising as a contender in shorter events beyond its dominance at longer distances. Source: AFP

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D’Tigress’ Wakama named Olympics best female basketball coach

Rena Wakama, the Head coach of Nigeria’s senior women’s basketball team, D’Tigress, has been named the Best Female Basketball Coach at the Paris 2024 Olympics tournament. “Best coach of #Paris2024 Women’s Basketball, Rene Wakama, Nigeria,” a tweet on the X handle of the International Basketball Federation read on Sunday evening. Wakama, 32, guided the female basketball team to their first-ever quarterfinals of the Olympic games when they beat Canada 79-70. However, their journey at the Olympics was cut short when they lost to the eventual winners — United States, by 88-74 in the quarterfinals of the women’s basketball event. Despite this, the team made an impressive record of being the only African basketball team (men and women) to progress to the last 16 at the event. Wakama is the first Nigerian National Female Basketball Team coach to win the women’s Afrobasket title since it began in 1966. D’Tigress defeated Senegal 84-74 in the final and secured Nigeria’s place as only the second country to win the title four times in a row. Source: punchng.com

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Tracking Africa’s Gold 

As much as $35 billion worth of gold produced by artisanal and small-scale mining in Africa goes undeclared and then smuggled out, a report published on Thursday claims. According to Switzerland-based aid and advocacy organization SwissAid, a total of 435 tonnes of gold was illegally taken out of Africa in 2022, with the majority of it going to the United Arab Emirates (UAE). From Dubai, gold smuggled out of Africa makes its way to European countries including Switzerland, SwissAid says. Once it enters the international market and is declared as imported in a country like the UAE, it then can be legally exported to other countries.According to SwissAid, the destination countries have poor regulations when it comes to discerning the actual origins of the metal. Mining.com

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Tanzania beats Nigeria to become India’s second largest African trading partner

Tanzania’s trade with India has grown at a very impressive pace, growing over 20% during the fiscal year. Media reports cited the statement from the High Commission of India in Dar es Salaam, revealing that trade between Tanzania and India increased by 22% in the last fiscal year. Their bilateral trade value went up from $6.48 billion in 2022/23, to $7.9 billion in the year leading up to May 27, 2024. This meant that Tanzania had moved past Nigeria which was previously India’s second-largest African trading partner, and has taken the country’s place. Pigeon peas, avocados, and Cashew nuts are some of the products Tanzania sells to India, while it buys petroleum products, industrial machinery, and automobiles amongst other things from India. Business Insider

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Spotlight on Nigeria’s SME Landscape

A new study from Visa, the SME Megatrends report, delves into the ever-evolving financial landscape for Small and Medium Enterprises (SMEs) in Nigeria. The report identifies significant opportunities for growth and innovation, particularly in the digital and financial domains, with clear insights that can be leveraged by issuing banks to unlock new revenue opportunities and gain a competitive edge. Businesses in Nigeria are in the midst of significant transformation, as high internet and social media penetration incentivize SMEs to build an online presence and growing e-wallet use spur digitalization. This is creating a latent demand for SMEs to develop online presence and e-commerce capabilities to reach new customers, with a need for robust and simplified tools to enable access. However, SMEs remain underfunded and underbanked, requiring access to formalized credit to expand businesses and meet day-to-day cashflow constraints. Business Insider

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