The African Development Bank (AfDB) has approved a $100 million investment for the creation of the Nigerian Youth Entrepreneurship Investment Bank, a new financial institution dedicated to empowering young entrepreneurs across the country and the wider African continent.

The announcement came during the 14th Convocation Lecture of the National Open University of Nigeria (NOUN) in Abuja, where AfDB President Dr. Akinwumi Adesina took a direct swipe at Nigeria’s banking sector. The convocation lecture was chaired by former INEC Chairman, Prof. Attahiru Jega, who lauded Adesina as “one of the continent’s most visionary leaders,” adding that his work at AfDB is helping to reframe how Africa approaches development—no longer as a series of aid-dependent crises, but as a continent with the capacity to chart its own course.

In a blunt rebuke, Adesina accused commercial banks in Nigeria and across Africa, of systematically locking out the very group whose ingenuity and innovation are critical to the continent’s future.

“The commercial banking system, the financial system, has failed young people in Africa,” Adesina said.

It was against that backdrop that the $100 million youth bank was announced. For Adesina, this wasn’t merely a policy intervention—it was a direct response to what he described as a financial system that has become unfit for purpose, especially in a continent where youth entrepreneurship is exploding but support is nearly nonexistent.

“Young people don’t lack ideas—they lack support,” he said, noting that across Africa, 22% of the working-age population is engaged in entrepreneurial activity, the highest rate in the world according to the Global Entrepreneurship Monitor (2020). Yet access to capital, particularly for startups and early-stage ventures, remains staggeringly low.

The new youth bank, according to Adesina, will offer a mix of debt and equity financing, alongside tailored technical assistance and business development services. It will serve as a platform for young entrepreneurs to not only secure the funding they need but also build the skills and networks necessary to scale their businesses sustainably.

Sectors earmarked for support include agriculture, retail, services, and especially technology. Africa’s digital economy alone, Adesina said, is projected to contribute $180 billion to the continent’s GDP by 2025, rising to $712 billion by 2050 if adequately harnessed.

But it won’t stop there. The AfDB also reaffirmed its support for the Investment in Digital and Creative Enterprises (iDICE) programme—a $614 million initiative backed by a consortium that includes the Agence Française de Développement (AFD), the Islamic Development Bank, and Nigeria’s Bank of Industry. The iDICE programme is expected to inject $6.4 billion into the Nigerian economy and create over six million jobs, targeting small and medium-sized businesses in Nigeria’s vibrant tech and creative sectors.

Still, Adesina made it clear that financing without education would only take the continent so far. He warned that Africa continues to lag dangerously behind in education, especially in science and technology, putting the region at risk of being left behind in the race toward the Fourth Industrial Revolution.

He painted a stark picture, noting that only 43% of African youth complete secondary education, compared to 98.9% in Japan. Just 10% go on to higher education in Africa, while Japan sees a 60% enrollment rate. Even among university students, only about 25% in Africa are pursuing degrees in STEM fields, trailing Japan’s 30%.

To address this knowledge gap, the AfDB, in partnership with the African Union, is launching a $300 million African Education, Science and Technology Innovation Fund. The fund will be channeled into building expertise in artificial intelligence, robotics, cloud computing, and other emerging technologies—areas that will define the jobs and economies of the future.

“The future of Africa cannot be built on low-level skills and outdated industries,” Adesina said. “We must build a new foundation anchored on education, science, innovation, and entrepreneurship.”

His call for change extended beyond banks and classrooms. He urged African governments to adopt a new development mindset—one focused on resilience, energy infrastructure, mineral resource value chains, and self-reliance.

“Africa has no buffers,” he said, lamenting the continent’s repeated vulnerability during global shocks, from pandemics to commodity price swings. He criticized the long-standing reliance on raw material exports and emphasized the need to process and add value locally.

His remarks came at a time when Nigeria’s economy remains under pressure. Youth unemployment is high, inflation is running hot, and structural bottlenecks—from electricity to infrastructure—continue to suppress productivity. Commercial banks, meanwhile, have largely prioritized lending to large corporations and high-net-worth individuals, with startups and small businesses left to scramble for survival.

Many young Nigerian innovators have long complained of opaque lending conditions, collateral requirements they cannot meet, and a hostile credit environment that rewards speculation over innovation.

The Youth Bank, therefore, is more than just a financial tool. It is an attempt to correct a system that has for too long ignored those who carry the burden of Africa’s future. It also signals that the AfDB, under Adesina’s leadership, is pivoting from abstract economic theories to institution-building—designed to unlock productivity and scale across the continent.

For Nigeria, where over 60% of the population is under 25, the fund is expected to boost the economy through entrepreneurship. If implemented effectively, the bank could serve as a model for other African nations grappling with similar demographic and financial inclusion challenges.

In a significant policy shift, the United States has exempted electronics, including smartphones, computer monitors, and semiconductors, from President Donald Trump’s sweeping reciprocal tariffs, according to a US Customs and Border Protection (CBP) notice issued late Friday.

This marks the second major adjustment to the administration’s aggressive trade strategy, following intense criticism that the tariffs could precipitate a global recession. However, escalating tensions with China, which has shown no willingness to negotiate under Washington’s terms, have put the global economy on the edge.

The CBP notice specifies that electronics imported to the U.S. or removed from warehouses as of April 5, 2025, are exempt from the tariffs, which include a baseline 10% rate on all imports and higher country-specific rates, such as 145% on Chinese goods. The decision safeguards critical tech supply chains, particularly for companies like Apple, which relies on China for 90% of its iPhone production, according to Wedbush Securities.

Counterpoint Research estimated Apple had up to six weeks of U.S. inventory, after which prices could have surged without this exemption. Semiconductors, vital for countless devices, are also exempt, potentially benefiting Asian chipmakers like Taiwan Semiconductor Manufacturing Company (TSMC) and South Korea’s Samsung.

This exemption follows an earlier adjustment to the tariff regime, where Trump announced a 10% baseline tariff and a 90-day suspension of all tariffs. Together, these concessions signal a cautious recalibration by the Trump administration amid mounting economic concerns. Economists have warned that the tariffs could raise consumer prices, with many Americans already rushing to buy big-ticket items like electronics and cars as consumer sentiment hits record lows.

The decision to exempt electronics comes against a backdrop of dire warnings from global economic analysts. Many have argued that the tariffs, intended to address trade imbalances and boost U.S. manufacturing, risk plunging the global economy into recession by disrupting supply chains and increasing costs. The International Monetary Fund and World Bank have echoed these concerns, projecting significant contractions in global trade if the U.S.-China trade war escalates further.

The Trump administration has defended the tariffs as a necessary step to reverse decades of manufacturing decline and create American jobs. However, the exemptions suggest a recognition that some products, like semiconductors, cannot be easily produced domestically at competitive costs, underscoring the complexity of achieving these goals.

U.S.-China Standoff: No Call from Beijing

Tensions with China, the primary target of the tariffs, show no signs of abating. The Trump administration has indicated it expects a call from Beijing to initiate negotiations between the world’s two largest economies. A White House spokesperson stated Thursday, “We’re ready to sit down and talk, but the ball is in China’s court.”

However, Beijing has rebuffed this overture, with a Chinese Foreign Ministry spokesperson indicating on Thursday that China will not make the call, and will not bow to pressure.

“The door to talks is open, but dialogue must be conducted on the basis of mutual respect and equality,” a spokesperson for the Chinese Commerce Ministry said Thursday. “If the US chooses confrontation, China will respond in kind. Pressure, threats, and blackmail are not the right ways to deal with China.”

China’s defiance reflects its determination to confront the U.S. head-on. Beijing has already imposed retaliatory tariffs on American goods and is reportedly exploring further measures, including restrictions on rare earth exports critical for tech manufacturing. This hardline stance has fueled speculation that China believes it can outlast the U.S. in this trade war, especially as exemptions like the electronics carve-out are perceived as signs of American retreat.

Perceptions of a Faltering U.S. Strategy

The electronics exemption, coupled with the earlier adjustment, has sparked debate about the sustainability of Trump’s trade policy. Smartphones and computers are China’s largest export to the United States. Some analysts argue that these concessions signal that the U.S. is already losing ground in the trade war.

“Let’s put the tariff exemptions into perspective: The US imports approximately $100 billion of computers, smartphones, and chip-making equipment from China PER YEAR. A total of $439 billion of goods were imported from China into the US in 2024. This means ~23% of ALL Chinese imports coming to the US are now exempt from “reciprocal tariffs. This is a massive U-Turn in tariff policy,” The Kobeissi Letter, an industry leading commentary on the global capital markets, noted.

Public sentiment mirrors this skepticism. Posts on X reflect growing frustration among Trump supporters who expected a tougher stance.

“Imagine trying to manage a supply chain right now. Every 48 hours, the White House is announcing, or un-announcing, or re-announcing, or creating massive carve outs to, a new trade rule. Why would anyone anywhere build a new factory under these conditions?” Derek Thompson, a writer at The Atlantic, wrote.

Meanwhile, business leaders have cautiously welcomed the move, with the Consumer Technology Association noting that the exemption “prevents immediate harm to innovation and affordability.”

However, while the electronics exemption buys time for tech industries, it does little to resolve the broader impasse with China. Washington’s hope for negotiations hinges on Beijing’s willingness to engage, but China’s resolute stance suggests a prolonged standoff. With global markets on edge and consumer confidence wavering, the Trump administration faces mounting pressure to balance its protectionist agenda with economic stability.

21Shares, a prominent crypto asset manager, filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch a spot Dogecoin exchange-traded fund (ETF). This proposed 21Shares Dogecoin ETF aims to track the price of Dogecoin (DOGE), a popular memecoin, using the CF Dogecoin-Dollar Settlement Price as its benchmark. The fund is designed to provide investors with exposure to Dogecoin without the need to directly own the cryptocurrency, and it will be physically backed by actual DOGE holdings, with Coinbase Custody designated as the custodian.

This filing follows similar moves by competitors like Bitwise and Grayscale, signaling a growing interest in bringing Dogecoin into regulated financial markets. The Dogecoin Foundation’s corporate arm, House of Doge, is partnering with 21Shares to support the ETF’s marketing efforts, leveraging the coin’s strong community appeal. While details such as the ticker symbol, management fees, and listing exchange remain undisclosed, the initiative reflects 21Shares’ broader strategy to expand its spot crypto ETF offerings beyond its existing Bitcoin and Ether funds.

U.S. Securities and Exchange Commission approved options trading on multiple spot Ethereum (ETH) exchange-traded funds (ETFs). This decision allows investors to trade options on ETFs such as BlackRock’s iShares Ethereum Trust (ETHA), Bitwise Ethereum ETF (ETHW), Grayscale Ethereum Trust (ETHE), Grayscale Ethereum Mini Trust (ETH), and Fidelity Ethereum Fund (FETH).

Options trading provides investors with a tool to speculate on Ethereum’s price movements or hedge their positions without directly owning the underlying asset, potentially broadening the appeal of these ETFs, especially among institutional traders.

Cathie Wood’s ARK Invest recently purchased approximately $13.3 million worth of Coinbase (COIN) shares during a market downturn. This acquisition involved 84,514 shares spread across two of ARK’s exchange-traded funds (ETFs). Specifically, the ARK Next Generation Internet ETF (ARKW) acquired 64,806 shares, valued at around $10.2 million, while the ARK Fintech Innovation ETF (ARKF) picked up 19,708 shares, worth about $3.1 million, based on the closing price on the day of the purchase.

The first 2x leveraged XRP exchange-traded fund (ETF) debuts in the United States. Launched by Teucrium Investment Advisors, the Teucrium 2x Long Daily XRP ETF (ticker: XXRP) began trading on the NYSE Arca exchange. This ETF aims to deliver twice the daily performance of XRP, the cryptocurrency associated with Ripple, using financial instruments like swaps and futures rather than directly holding the token. It comes with a management fee of 1.85% and is designed for investors seeking amplified short-term exposure to XRP’s price movements.

This launch is notable as it’s the first XRP-based ETF in the U.S., and unusually, it’s a leveraged product rather than a spot ETF, which tracks the asset’s price directly. Spot XRP ETF applications from firms like Bitwise, WisdomTree, and Franklin Templeton are still under SEC review. The debut follows a shifting regulatory landscape, including the SEC dropping its case against Ripple in March 2025, potentially paving the way for more crypto investment vehicles.

Changpeng Zhao (CZ), the founder and former CEO of Binance, has been appointed as a Strategic Advisor to the Pakistan Crypto Council (PCC). This development marks a significant step for Pakistan as it seeks to advance its digital finance and blockchain ecosystem. The announcement was made on April 7, 2025, during CZ’s visit to Islamabad, where he met with high-ranking officials, including Finance Minister Senator Muhammad Aurangzeb, the Prime Minister, and representatives from the State Bank of Pakistan and the Securities and Exchange Commission.

The U.S. exchange-traded funds (ETFs) has set a new record, with daily trading volume surpassing $600 billion. This milestone exceeds the previous high of $484 billion from 2022, reflecting significant activity and investor engagement in the ETF market. The surge could be tied to various factors, such as heightened market volatility, shifts in investor sentiment, or reactions to economic policies—though specific drivers aren’t detailed in the prompt.

MicroStrategy has reported an unrealized loss of $5.91 billion on its digital assets for the first quarter of 2025, as disclosed in a filing with the U.S. Securities and Exchange Commission on April 7, 2025. This significant loss is primarily tied to its Bitcoin holdings, reflecting a sharp decline in the cryptocurrency’s market value during the quarter. Despite this paper loss, the company noted a $1.69 billion income tax benefit that partially offsets the impact, though it still expects a net loss for Q1.

MicroStrategy, which has positioned itself as a major corporate holder of Bitcoin, did not purchase additional Bitcoin in the last week of the quarter (March 31 to April 6), amid heightened market volatility. This unrealized loss highlights the risks of its aggressive Bitcoin accumulation strategy, especially as macroeconomic factors, such as U.S. tariff policies, have pressured risk-on assets like cryptocurrencies.

In March 2025, Ethereum surpassed Solana in monthly decentralized exchange (DEX) trading volume for the first time since September 2024. According to data from DefiLlama, Ethereum-based DEXs recorded approximately $63 billion in trading volume, outpacing Solana’s $51 billion during the same period.

This shift highlights Ethereum’s resurgence in the decentralized finance (DeFi) space, driven largely by the performance of platforms like Uniswap, which alone accounted for over $30 billion in volume. Meanwhile, Solana’s activity appears to have cooled, particularly in the memecoin sector, which had previously fueled its dominance.