Tuesday, May 28

Africa

Umoja Cable digital infrastructure
  • Google is rolling out Umoja cable, the first-ever fibre optic link directly connecting Africa with Australia, aiming to enhance global digital infrastructure and foster economic growth.
  • The Umoja project, developed in collaboration with Liquid Technologies, will improve connectivity and drive digital inclusion across Africa.
  • This initiative is part of Google’s long-term commitment to Africa’s digital transformation, with investments in infrastructure, cybersecurity, and AI innovation to support growth.

In a deal set to revolutionize digital connectivity across continents, tech heavyweight Google has announced the launch of Umoja, the first-ever fibre optic link directly connecting Africa with Australia. This project is poised to enhance global digital infrastructure, foster economic growth, and drive digital inclusion on a new level scale.

The Umoja cable, anchored in Kenya, will traverse a diverse array of African countries, including Uganda, Rwanda, the Democratic Republic of Congo, Zambia, Zimbabwe, and South Africa, before crossing the Indian Ocean …

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DRC Coup
  • Three Americans are among 50 arrested in a failed attempt to overthrow President Tshisekedi of DRC.
  • The alleged coup leader, Christian Malanga, a US-educated former refugee and naturalized US citizen, along with his son Marcel and Benjamin Zalman-Polun, a cannabis entrepreneur from Maryland, among those arrested.
  • The UN and international community have condemned the coup attempt, instead, calling support for the Congolese government.

In a stunning turn of events that has sent ripples through the international community, three American nationals have been arrested for their alleged involvement in a failed coup attempt in the Democratic Republic of Congo (DRC).

The dramatic incident unfolded in the early hours of Sunday May 19th, culminating in a shootout in the capital, Kinshasa. Later, a disturbing video footage shows two of the American men pleading for mercy on the ground, surrounded by heavily armed government forces.

The plot to overthrow President Félix Tshisekedi’s government …

clean cooking in Africa
  • In Africa, a staggering 1.2 billion people lack access to clean cooking facilities.
  • Lack of clean cooking facilities is one of the main causes of deforestation in Africa.
  • AfDB funding is a major step along the road to saving the lives of 600,000 mainly women and children each year.

The African Development Bank Group (AfDB) has pledged $2 billion over the next decade towards clean cooking initiatives in Africa, marking a huge stride in the effort to save the lives of 600,000 people, predominantly women and children, each year. This commitment aims to address the health hazards associated with traditional cooking methods that rely on charcoal, wood, and biomass, which contribute to severe respiratory illnesses and environmental degradation.

At a summit on Clean Cooking in Africa, held in Paris, AfDB President Dr. Akinwumi Adesina announced that the Bank would allocate 20 per cent of its energy project financing to promoting …

AIM Congress 2024
  • Exclusive pre-congress workshop launched to elevate startups for the global stage
  • This year’s startup competition has attracted entrants from 53 countries.
  • With cash prizes amounting $60,000, the stakes are high for participants to showcase their innovations.

As the global business community looks forward to the AIM Congress 2024, an exclusive startup workshop has been announced to prepare tech entrepreneurs for the grand stage.

Scheduled for May 7-9, the AIM Congress is set to be a pivotal gathering for industry leaders, policymakers, investors, and innovative startups under the theme “Adapting to a shifting investment landscape: Harnessing new potential for global economic development.”

In preparation for this landmark event, AIM Startup, in partnership with Bloom, is organizing a preparatory workshop designed to hone the skills and strategies of promising tech entrepreneurs. The workshop, aimed at empowering participants to maximize their impact at the congress, is part of a broader initiative by …

Crypto portfolio
  • In 2024, diversification of your crypto portfolio remains a fundamental principle for managing risk and maximizing returns.
  • Understanding how to build an optimal investment portfolio and monitor its effectiveness is crucial for both experienced investors and newcomers.
  • A well-diversified crypto portfolio typically includes a mix of traditional and alternative assets such as stocks, crypto assets, real estate and cash.

Diversification in the crypto world is not just a smart move; it’s a necessity. As the digital currency market evolves rapidly, its risks multiply. Understanding how to build an optimal investment portfolio and monitor its effectiveness is crucial for both experienced investors and newcomers. Here’s a guide to crafting a well-balanced crypto portfolio in 2024.

Diversification in the Crypto World

In today’s dynamic financial environment, investing in cryptocurrencies offers enticing opportunities but also carries inherent risks. Diversification, a fundamental concept in risk management, plays a pivotal role in safeguarding investments against

cryptocurrency investments
  • A key component of successful cryptocurrency investment is utilizing cryptocurrency exchanges effectively.
  • The USDT/SOL exchange pair refers to the trading of Tether (USDT) against Solana (SOL) on a cryptocurrency exchange.
  • Solana, on the other hand, is a blockchain platform designed for decentralized applications and crypto-native projects.

Cryptocurrency investments have gained significant popularity in recent years, providing individuals with opportunities to grow their capital in the digital asset space. One of the key components of successful cryptocurrency investment is utilizing cryptocurrency exchanges effectively. In this blog, we will explore the concept of using exchanges to grow your capital, with a specific focus on the USDT/SOL exchange pair.

What is the USDT/SOL exchange pair?

The USDT/SOL exchange pair refers to the trading of Tether (USDT) against Solana (SOL) on a cryptocurrency exchange. Tether is a stablecoin pegged to the value of the US dollar, providing investors with a stable and reliable cryptocurrency

African airlines
  • African Airlines revenues for January 2024 were $ 1.83 billion compared to $1.56 billion in November 2023
  • Available seats per kilometre (ASKs) also exceeded the level of March 2019 by 7.7 per cent.
  • Open skies will boost intra-African connectivity and drive down airfares.

Investments among the continent’s carriers have begun to pay off as African Airlines Revenues and seat numbers hit a record high, a new report by African Airline Association (AFRAA) has shown.

The number of airline seats offered in the region has increased by 12.6 per cent to 16.1 million in March 2024, thanks to new routes and flight frequencies.

For the first time in four years, the industry surpassed pre-COVID-19 monthly figures of 14.3 million, recorded in March 2019.

The year 2024 is shaping up to be a significant year of recovery for the aviation industry. Airlines have regained their pre-Covid levels of capacity and traffic and …

Kenyan doctors on strike
  • Kenyan doctors have rejected a $18.3 million (KES2.4 billion) offer to return to work.
  • The top demands of over 7,000 medics include immediate hiring of trainee doctors, adequate medical insurance coverage for doctors and their dependents, and fixing delays in pay.
  • The labour boycott also calls for paying doctors working in public hospitals as part of their higher degree courses.

In a move that further throws Kenya’s healthcare system into a spin, public hospital doctors under the Kenya Medical Practitioners, Pharmacists, and Dentists Union (KPMDU) lobby have rejected a $18.3 million (KES2.4 billion) offer to leave the streets and go back to work.

The latest twist underlines the deepening rift between healthcare professionals and Kenyan officials amid a strike that has now stretched into its third week since March 15.

Representing over 7,000 members, KMPDU initiated the strike to address several critical issues, including the demand for the payment of …

West Africa's cocoa supremacy
  • Across Ghana and Ivory Coast, climate change, illegal mining, cocoa industry woes, and a devastating disease known as swollen shoot have conspired to end West Africa’s cocoa supremacy.
  • In Ivory Coast, 30% of cocoa plantations are infected by swollen shoot disease. Upto 600,000 hectares under Cocoa in Ghana are infected, too.
  • The crisis in West Africa is offering opportunity to Ecuador, Brazil and Peru to become global cocoa production titans.

A double whammy of a devastating disease coupled with unchecked gold mining activities has set up a storm that is fast threatening to kill West Africa’s Cocoa supremacy.

For decades, Ghana and the Ivory Coast have held the mantle of titans in the cocoa world, jointly supplying over 60 per cent of the beans’ global demand. However, this year’s poor harvest as noted by an exclusive piece by Reuters, could spark a seismic shift in the cocoa production industry, …

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