{
  "id": 5317553,
  "title": "Tim Cook leaves a $4.5 trillion Apple with Africa still on the sidelines",
  "url": "https://urgent.news/2026/09/03/tim-cook-leaves-a-4-5-trillion-apple-with-africa-still-on-the",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-03T11:37:00.000Z",
  "source": {
    "name": "IOL",
    "slug": "iol",
    "url": "https://iol.co.za/business/2026-09-03-tim-cook-leaves-a-45-trillion-apple-with-africa-still-on-the-sidelines/"
  },
  "original_language": "en",
  "account": "Tim Cook has departed as Apple's CEO after a storied 15-year tenure, leaving an empire that has burgeoned into one of the globe's most colossal and lucrative enterprises. In his closing remarks, Cook expressed heartfelt appreciation for the Apple community, vowing that his devotion to them would endure unaltered. As of his departure, Apple's market cap soared to approximately $4.5 trillion, a monumental leap from its $350 billion valuation in 2011. Annual revenue burgeoned from $108 billion to a staggering $416 billion in 2025, while profits soared to over $112 billion.\n\nHowever, Apple's meteoric rise has been intricately woven with the continent of Africa, which remains conspicuously absent from the company's direct retail footprint. The Democratic Republic of Congo (DRC), a titan in global cobalt production, and a significant contributor to copper and other vital minerals, has been under scrutiny. Accusations have been lobbed against Apple for allegedly sourcing minerals tied to illicit mining and conflict within the DRC. Apple has vehemently denied these claims and unequivocally asserted its dedication to responsible sourcing. The company's reliance on African minerals is undeniable, with parts integral to a vast array of electronic devices.\n\nDespite the minerals' crucial role in Apple's supply chain, Apple has yet to establish a single company-owned Apple Store in Africa. While the tech titan boasts over 500 company-owned stores globally, concentrated in powerhouse markets like the United States, China, the United Kingdom, and India, where six outlets now grace the landscape, Africa remains without a physical storefront. Customers across the continent largely procure Apple's offerings—be it iPhones, Macs, iPads, or other devices—through authorized retailers and distributors. Apple's footprint in Africa, although significant in terms of supply chain reliance, is minuscule compared to its established presence in key overseas markets.",
  "summary": "Tim Cook will become Apple’s executive chairman on 1 September 2026, with John Ternus succeeding him as CEO. During Cook’s tenure, Apple became one of the world’s most valuable companies, but its direct retail presence in Africa remains limited.",
  "key_points": [
    "Tim Cook's 15-year tenure left Apple with a $4.5 trillion market cap.",
    "Africa remains without Apple's direct retail presence or stores.",
    "Apple's supply chain heavily relies on African minerals, especially from DRC."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}