🏦Just 6% of Nigerian adults borrowed money from a bank/financial institution in 2023
💳Credit card adoption in Nigeria is at 1.6%. The average in Africa < 4%

American Express sees a big opportunity for growth here
semafor.com/article/05/10/…

Apple is making some big changes over concerns that other companies’ progress on AI could topple its dominance in the global smartphone market.
semafor.com/article/05/10/…

The United Nations General Assembly overwhelmingly voted to back Palestine’s bid to become a UN member.
semafor.com/article/05/10/…

Conservatives lose almost half of their councillors across England, AI emerges as a factor in India’s campaign, and France’s Socialists come close to overtaking Macron’s movement.

All of this and more, in the latest updates to our Global Election Hub:
semafor.com/hub/global-ele…

In their new book, political scientists Daniel Schlozman and Sam Rosenfeld explain why the major parties are weaker than voters realize, and why that's bad for America.
semafor.com/article/05/10/…

Trone to David Weigel on what his money brings to Senate race

“It will give them a lot more flexibility to spend money elsewhere ... I’m sure that will appeal to Leader Schumer.”

semafor.com/article/05/10/…

Maryland’s Democratic Senate primary is the most expensive in the nation. And it’s getting personal.

New from David Weigel in Semafor Americana:
semafor.com/article/05/10/…

While Congress talks about AI regulations, state legislatures are moving quickly ahead — presenting a possible future where companies and users have to contend with 50 different AI rules.
semafor.com/article/05/10/…

Catch David Weigel on Inside Politics this Sunday at 8am ET!

A Ukrainian drone struck an oil refinery nearly 750 miles into Russian territory, marking the deepest point Ukraine has reached as part of its campaign targeting Russia’s energy infrastructure.
semafor.com/article/05/10/…

American Express is rolling out new credit cards in Nigeria as it pushes to become a dominant player in Africa’s fledgling credit market.
semafor.com/article/05/10/…

🟡 Today in Principals

Israel responds to Biden
FAA bill passes
SCOOP: ‘Taiwan Allies Fund’ proposal
Stormy Daniels wraps up testimony
DOD’s clean power bet
Biden’s new Africa director
semafor.com/newsletter/05/…
+1GT with Sen. Eric Schmitt

“We have gone through hardships together and defied power politics together amid volatile international situations,” Xi wrote in an open letter to Hungary, calling their partnership “as mellow and rich as Tokaji wine.”
semafor.com/article/05/10/…

A new bipartisan bill would direct US assistance to countries that face economic backlash from China for attempting to forge ties with Taiwan, Morgan Chalfant reports.
semafor.com/article/05/10/…

New: A bipartisan proposal set to be introduced later today in the House would set up a new development assistance fund to help countries who forge ties with Taiwan and face economic pressure from China semafor.com/article/05/10/…

The US military is bullish on a decades-old electricity source that has never quite hit the limelight: geothermal energy.
semafor.com/article/05/09/…

While everyone else is betting on climate tech you may have never heard of, the US military is increasing its focus on a decades-old source.

Check out this fascinating katie brigham piece for Semafor: semafor.com/article/05/09/…

🟡 Semafor Business and Finance Editor Liz Hoffman joined Last Call tonight to discuss her recent reporting on Bill Ackman and his 'anti-woke crusade.'
Check it out👇