🔅 TikTok's Top Users Are in Africa, Burna Boy Makes History, Ghana's Painful Bailout, UK's Aid Fuels Healthcare Poverty, And More
From Social Media Dominance to Music Triumphs, Economic Struggles to Mercenary Mayhem
Photo of the day: Case De Gaulle, Brazzaville, République du Congo
Markets:
🟢 Nigerian SE: 59,338.76 (+0.22%)
🔴 Johannesburg SE: 74,265.04 (-0.19%)
🟢 Ghana SE: 2,736.34 (+1.97%)
🔴 Nairobi SE: 107.21 (-0.03%)
🟢 US S&P 500: 4,337.21 (+0.26%)
🔴 Shanghai Composite: 3,150.62 (-1.48%)
*Data accurate as of the close of markets across the continent
Brief & Bright: Africa's Top Five Highlights
🇰🇪 Kenya Leads the World in TikTok Usage | A recent Reuters Institute Digital News Report Survey found that Kenya is leading the world in TikTok usage—54% for any purpose and 29% for news. And although TikTok is gaining some serious ground when it comes to news consumption, Facebook still holds the top spot for the 18-24 year age group. The study also finds that this segment of users is quite selective when it comes to what they watch on the app, trying to protect their mental health by avoiding stories they find too depressing or anxiety-provoking.
🎙️ Burna Boy Makes History at the 2023 BET Awards | Burna Boy is on fire! The Nigerian singer just made history at the 2023 BET Awards by winning the 'Best International Act' for the fourth time—putting him in a league of his own: he is the African artiste with the most international wins. This year he was up against a star-studded list of nominees, including South Africa's Ko and Britain's Stormzy, but the Afrobeats star proved his reign is still strong. And it's not just Burna Boy who's getting love from the BET Awards—Cameroon's Libianca won the 'Best New International Act' award, thanks to her song 'People (Check On Me)' that has been streamed over 320 million times. Here’s her video:
🇬🇭 Ghana's Painful Economic Decision: IMF Bailout | In a move that Ghanaian President Nana Akufo-Addo admitted was “painful”, the country received a $3 billion bailout from the International Monetary Fund a couple of weeks ago. He promised that the bailout would restore confidence and get the economy back on track, but critics aren’t so sure. They think the country’s economic woes are partly due to gross mismanagement. To get the cash, the government will have to reduce public expenditure and increase domestic revenue, which could mean a clampdown on tax evaders and new taxes. The IMF approved the bailout in May and the country has already received the first tranche of $600 million.
🏥 UK Investment Funds Put People in Poverty with Private Healthcare | Here’s a strange fact: money from the UK’s aid budget is actually helping to impoverish people. How? By investing in private healthcare providers. According to a report by Oxfam, the investments by the government-backed agencies are contributing to the “impoverishment and even imprisonment” of those who can’t afford medical bills. Patients in some hospitals are reportedly held hostage until they’ve paid their bills, while other private hospitals are charging astronomical fees, even for basic services such as maternity care. The World Bank claims that private sector-led innovations are helping to reach vulnerable populations. But with cases of medical and financial abuse being covered up, Oxfam is sceptical of this claim, and has called on the UK government to halt these investments and redirect them into strengthening public health systems instead.
⚠️ Wagner's African Rebellion: Trouble for Mali and CAR? | The international mercenary group Wagner has gone rogue, and it’s causing some trouble for two African nations. As the Wagner fighters had barrelled towards Moscow this weekend, the governments of Mali and the Central African Republic (CAR) kept mum on the whole situation. That’s because both countries have sought closer ties with Russia, including military support from Wagner in their battles against armed groups. The connection with Russia has caused some problems with the West, which has accused Wagner of committing possible war crimes alongside Malian soldiers. And if Wagner is really on the outs with the Kremlin, it could have a big impact on Mali’s security strategy. The country had received shipments of fuel, fertiliser, and food worth about $100m from Russia last year. The power struggle in Russia could also affect CAR, where hundreds of Wagner operatives have been helping the government fight rebel insurgencies since 2018.
Food for Thought
“The only time you will see a quiet snake is when it has swallowed another snake.”
— Kenyan Proverb.
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