🔅 East Africa's first 5G network
And Elon Musk says he's buying twitter for humanity's sake
Good morning ☕
In Today’s Issue, Kenya launches East Africa’s first 5G network, parliamentarians call-off demands to remove the finance minister, and Elon Musk says buying twitter is because he’s saving humanity…
Markets
🔻 Nigerian SE: 44,625.18 (-0.52%)
🔺 Johannesburg SE: 67,123.41 (+0.03%)
🔻 Ghana SE: 2,460.65 (-0.02%)
🔺 Nairobi SE: 129.63 (+0.74%)
🔻 US S&P 500: 3,804.84 (-0.67%)
🔻 Shanghai Composite: 2,982.90 (-0.55%)
*Data accurate as of close of markets across the continent
Nigeria:Â Nigeria's leading opposition presidential contender has called on the government to immediately set up a flood disaster fund similar to one created to fight the coronavirus pandemic. More than 600 people have been killed and 1.4 million displaced by the floods, which are the worst in a decade. Authorities have been criticised for being slow to help flood victims, and President Muhammadu Buhari has given his cabinet 90 days to develop a plan to prevent flooding in future.
Global Markets:Â Meta's (Facebook) profits have halved, leading to a plunge in share value of 20%. The company is struggling as advertising budgets are cut due to global economic uncertainty, changes to Apple's privacy settings, and competition from rivals. Many investors fear the company has lost its way, with concerns about excessive staffing and investment in artificial intelligence, the metaverse, and virtual reality.Â
TECHNOLOGY
Kenya goes 5G
What is happening?
Kenya's largest telecoms operator Safaricom has launched its 5G high-speed internet service, becoming the first firm to deploy the technology commercially in East Africa. Â
The company, whose internet provision business is one of its fastest-growing, uses equipment from Nokia and Huawei to power its 5G network. Safaricom is offering Wi-Fi subscriptions first as it attempts to win a more significant share of the fixed data market. Â
However, customers with compatible phones will be able to use the network soon when it starts selling 5G data packages.Â
The firm has 35 active 5G sites in Nairobi and other major cities, and it plans to increase that number to 200 by March next year. It started testing the network last year. Â
Why does it matter?
The launch of Safaricom's 5G network is a significant development for the telecoms industry in East Africa. Â
However, the initial focus on 5G Wi-Fi rather than mobile is because there are still relatively few 5G-compatible devices in Kenya. Â
The network will enable faster internet speeds and more reliable connections, which will have a range of applications for businesses and consumers. Â
The launch also highlights the potential of 5G technology to transform other industries, such as healthcare, manufacturing, and delivery of government services.
ACROSS THE CONTINENT
Other Headlines
🇪🇹 Two organisations from Ethiopia's Oromiya region have accused the army of conducting air strikes there recently, which they said had killed hundreds of civilians. Oromiya, home to Ethiopia's largest ethnic group numbering over 40 million, has experienced unrest for many years, rooted in grievances about marginalisation and neglect by the federal government. The violence in Oromiya is separate from the two-year war between the federal government and regional forces in the northern region of Tigray, the subject of peace talks mediated by the African Union that started in South Africa on Tuesday.
🇬🇠The ruling New Patriotic Party in Ghana has called off demands for the removal of Finance Minister Ken Ofori-Atta after President Nana Akufo-Addo promised to address their concerns. The NPP had threatened to boycott budget hearings and other government business until Ofori-Atta was sacked amid an economic crisis in the country. However, after Akufo-Addo promised to address their concerns, the NPP said it would take part in government business again. The president is set to address the nation on the economy on Sunday evening.
AROUND THE WORLD
‘I'm buying Twitter for humanity's sake’
What is happening?
Elon Musk claims he is buying Twitter to "help humanity" as the billionaire set out his aims for taking over the social media platform. Â
In a tweet, Mr Musk said he didn't buy the firm "to make more money. I did it to try to help humanity, whom I love". Â
The entrepreneur has until Friday to complete a $44bn (£38bn) takeover of Twitter or risk going to trial. Â
What's next?
The potential takeover of Twitter by Elon Musk has raised speculation about his aims for the social media platform. Â
In his latest tweet, Mr Musk set out some of his goals for the company, saying that Twitter must be "warm and welcoming for all". Â
However, it is unclear if the deal has been completed, and Mr Musk faces trial if he does not complete the takeover by Friday.
FOOD FOR THOUGHT
Proverb of the Day
“During times of peace in the country, the chief does not carry a shield."
— Ugandan Proverb.