Unlocking Africa's Full Tech Potential beyond "The big four" Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Feb 11, 2024 ​ Empowering Youth and Business by Promoting Technology in Africa Africa's "big four" - Kenya, Egypt, South Africa, and Nigeria - captured 87% of the continent's startup funding in 2023. There's a push for venture capitalists to look beyond these hubs to the broader African tech ecosystem. Despite a dip in funding in 2023, Africa's tech sector remains resilient, outperforming other emerging markets. The decrease in funding is due to more cautious startup approaches and a significant drop in investor participation, with a 50% decrease from the previous year. Acquisitions are becoming more favored over IPOs due to a global downturn in the latter. West Africa is leading in venture capital deals, with North and East Africa close behind, reflecting a continent-wide entrepreneurial zeal. Despite foreign investors dominating the African VC scene, the number of investors hit over a thousand for the first time, indicating a shift towards a more inclusive investment landscape. Outside the "big four," investment is less, highlighting the need for broader investment distribution. Addressing tech talent shortages, particularly in data science and software development, is crucial for growth. Leveraging the African Continental Free Trade Area could make other regions more appealing to investors by easing investment barriers. African governments are encouraged to improve legal and regulatory frameworks to attract more investment and ensure inclusivity across the continent for African Business growth. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Kenya to lead international force in Haiti amid gang violence and political turmoil Facebook X (Twitter) WhatsApp Copy link Justin Norris Sep 27, 2023 ​ Kenyan President William Ruto speaks next to German Chancellor Olaf Scholz during a news conference in the Federal Chancellery in Berlin, Germany March 28, 2023. REUTERS/Michele Tantussi/File Photo(REUTERS) President William Ruto agrees to send troops to Haiti as part of a US-backed plan but faces criticism from both countries. Kenya’s President William Ruto has announced that his country will lead an international force in Haiti to combat the rampant gang violence that has plagued the Caribbean nation since the assassination of its former leader Jovenel Moïse in July 2021. Ruto announced on Wednesday at a ceremony to establish diplomatic relations with Haiti, which was attended by Haiti’s current Prime Minister Ariel Henry, who had requested such a force a year ago. Ruto said that Kenya, as the leading country in the U.N.-backed security mission in Haiti, will send a special team to assess the situation and devise effective strategies that will lead to long-term solutions. He said that Kenya and Haiti share a common history of struggle for independence and democracy and that Kenya is committed to supporting Haiti’s stability and development. Haiti has been facing a humanitarian and security crisis, with gangs controlling about 80% of the capital Port-au-Prince, according to authorities. The gangs have been involved in kidnappings, extortion, and clashes with police, leaving many people in fear and poverty. The political situation has also been unstable, with Henry facing allegations of involvement in Moïse’s murder and opposition parties demanding his resignation. The international community has expressed concern over the deteriorating situation in Haiti and called for dialogue and elections. The U.S., which has been pushing for the deployment of an international force in Haiti, welcomed Kenya’s decision and praised its leadership role. The U.S. also pledged to provide humanitarian and security assistance to Haiti. However, the plan to send troops to Haiti has also faced criticism from some quarters, both in Kenya and Haiti. Some Kenyans have questioned the rationale and cost of the intervention, while some Haitians have expressed skepticism and resentment over foreign interference in their affairs. Ruto said that he respects the sovereignty of Haiti and that the intervention will be done in consultation and cooperation with the Haitian government and people. He also said that he hopes that the intervention will help restore peace and stability in Haiti and pave the way for free and fair elections. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Demba Ba Lauds Nicolas Jackson's Stunning Performance in Chelsea's 5-0 Rout of West Ham Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe May 7, 2024 ​ Nicolas Jackson Demba Ba, the former Senegalese forward, recently praised his compatriot Nicolas Jackson following an impressive performance for Chelsea. Jackson scored twice in Chelsea's dominant 5-0 victory over West Ham United last Sunday. These goals brought his season tally to 16 across all competitions, after 41 appearances. Despite facing criticism from Chelsea fans for some lackluster performances, Jackson's recent success on the field has shifted public perception. Sharing his thoughts on X, Ba highlighted the unpredictable nature of football and the quick change in how players are viewed. He commented on the situation, saying, “Football is crazy. Nicolas Jackson was a doubt in people’s minds after missing a couple chances in a game a few weeks ago. All of a sudden he became a great footballer/goalscorer. Keep doing your thing and shining my little brother.” Other contributors to Chelsea's win included Cole Palmer, Conor Gallagher, and Noni Madueke, who all found the back of the net in the match against West Ham. This victory not only showcased Jackson's abilities but also highlighted the depth of talent within the Chelsea squad. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Rhonex Kipruto Banned for Six Years for Doping, Faces Loss of World Record and Medals Facebook X (Twitter) WhatsApp Copy link Mbeki edmond Jun 6, 2024 Rhonex Kipruto, the 24-year-old Kenyan athlete Kipruto has been banned for six years by the Athletics Integrity Unit (AIU) for doping violations. This ruling follows his provisional suspension in May last year. Kipruto, who secured a bronze medal in the 10,000 meters at the 2019 World Championships, is set to lose his 10 kilometers road race world record and a world championship bronze medal. The AIU stated that Kipruto's Athlete Biological Passport (ABP) showed irregularities indicative of blood manipulation, likely due to the use of recombinant human erythropoietin (rEPO). The Disciplinary Tribunal rejected Kipruto's defense, concluding that the abnormalities in his ABP could not be explained by any other means. Despite denying the Anti-Doping Rule Violation (ADRV) charge, the panel was "comfortably satisfied" that Kipruto engaged in a "deliberate and sophisticated doping regime over a long period of time." As a result, Kipruto's 2020 10km road race world record in Valencia and his 2019 Stockholm Diamond League 10,000 meters win will be annulled. Kipruto is banned until May 2029 but retains the right to appeal to the Court of Arbitration for Sport. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Ethiopia's Largest Bank Tackles Glitch Fallout by Naming Customer who din't return the money they obtained illegally Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Apr 5, 2024 ​ Headquarters Commercial Bank of Ethiopia (CBE) Addis Ababa, Ethiopia – In a bold move to recover lost funds due to a recent technical glitch, the Commercial Bank of Ethiopia (CBE), the country's leading financial institution, has resorted to publicly shaming individuals who have failed to return the unintended windfall. Last month, a system malfunction permitted customers to withdraw funds exceeding their account balances, resulting in a financial discrepancy totaling approximately $14 million. Swift Recovery Efforts The bank has successfully reclaimed nearly 75% of the errant funds, according to CBE officials. A significant portion of the undue withdrawals were executed by university students, with over 490,000 transactions processed before the anomaly was detected. The bank's head has issued a stern warning of potential legal repercussions for those retaining the misallocated funds. Public Disclosure as a Deterrent In a dramatic turn of events, posters displaying the names and photographs of non-compliant customers were conspicuously placed outside CBE branches. This initiative aims to expedite the return of the remaining funds by holding individuals publicly accountable. Furthermore, the bank has taken to digital platforms to amplify this message, listing defaulters on its website, categorized by the amount misappropriated. Legal Implications and Ongoing Challenges The CBE is adamant about the legal ramifications facing those who choose to withhold the funds, emphasizing the traceability of digital transactions and the bank's resolve in ensuring accountability. However, challenges persist, especially in tracing funds transferred to external banking institutions. Bank Assurance and Future Safeguards Despite the setback, the CBE reassures its clientele of over 38 million account holders that their personal account integrity remains uncompromised. The incident, not linked to any cyber-attack, has prompted the bank to reinforce its system safeguards to prevent future occurrences. As the CBE continues its rigorous efforts to rectify the financial anomaly, the incident serves as a cautionary tale on the implications of digital financial transactions and the paramount importance of ethical conduct in banking . More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

South Africa's Inflation Hits Four-Month Peak: A Deep Dive Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Mar 22, 2024 ​ Symbolyic chart showing South African inflation In a recent turn of events, South Africa witnessed its inflation rate surge to a notable four-month zenith in February, an occurrence that solidifies the South African Reserve Bank's (SARB) inclination towards maintaining the status quo on borrowing costs in their forthcoming policy deliberation. A Closer Look at the Numbers According to an official release by Statistics South Africa, the consumer price index (CPI) escalated to 5.6% on an annual basis in February, marking a noticeable increase from the 5.3% recorded in the preceding month. This uptick surpasses the median forecast of 5.5%, as per a Bloomberg survey of economists, spotlighting a drift away from the central bank's preferred midpoint target of 4.5% for inflation anchoring. Implications for Monetary Policy The inflationary pressure, primarily propelled by rising costs in transport, housing, utilities, and food sectors, hints at a more cautious approach by SARB towards interest rate adjustments. Current market sentiment, reflected in forward-rate agreements, suggests minimal expectation of a rate cut, with a less than 10% probability of a hike in the near term. This conservative stance is anticipated to persist, with the central bank's policy rate, currently at a 15-year apex of 8.25%, expected to remain unchanged at the March 27 policy announcement. Analyzing Bond Market Reactions The bond market's response to the inflation data was moderately tempered, with yields on government bonds slightly receding post-announcement. This nuanced movement in the bond market underscores the intricate balance between inflationary trends and monetary policy expectations. What Lies Ahead As South Africa grapples with these inflationary challenges, all eyes are on the SARB's upcoming policy meeting. With inflation expectations for the current and following year still hovering above the desired midpoint, the central bank's decisions in the near term will be critical in shaping the economic trajectory and investor sentiment . More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

VAR and Onana Rescue Underperforming Manchester United Against Coventry, Setting Up Final Derby Clash with Manchester City in FA Cup. Facebook X (Twitter) WhatsApp Copy link Prince Jean Apr 21, 2024 ​ Manchester United players celebrate a momentous victory, embracing their goalkeeper in a display of unity and relief after a high-tension penalty shootout secures their path to the FA Cup final. Photo:GettyImages In an enthralling FA Cup semifinal at Wembley Stadium, Manchester United clinched a spot in the final after a nail-biting penalty shootout victory over Coventry, with goalkeeper Andre Onana playing a pivotal role. The match, which ended in a dramatic 3-3 draw after extra time, saw Manchester United squander a three-goal lead, requiring a crucial VAR intervention to prevent a late equalizer before triumphing in penalties. The action commenced with Manchester United taking control, though their initial efforts lacked finishing precision. Marcus Rashford missed an early chance, but the deadlock was broken in the 24th minute when Scott McTominay tapped in a precise cross from Diogo Dalot. Harry Maguire increased the lead before half-time with a header from a Bruno Fernandes corner. The second half saw Fernandes himself score via a deflection, seemingly securing Manchester United's passage to the final. However, Coventry staged an impressive comeback, with Ellis Simms and Callum O'Hare scoring to bring the Sky Blues level, turning the match into a high-stakes drama. The game extended into extra time where United thought they had sealed the win with a goal from Victor Torp, but it was disallowed for offside after a VAR review. The subsequent penalty shootout was tense, with Onana saving crucial penalties and Rasmus Hojlund scoring the winning shot, ensuring a 4-3 victory in the shootout. Manchester United now looks forward to a fierce contest against Manchester City in the FA Cup final, setting the stage for a classic derby with high stakes. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

West Africa's Single Currency Eco: A Game Changer for Regional Economy? Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Feb 14, 2024 ​ members of ECOWAS shown on map currently West Africa's Eco In an unprecedented move, fifteen countries within the Economic Community of West African States (ECOWAS) have committed to adopting a single currency, named the eco, marking a pivotal shift in the region's economic paradigm. This initiative aims to consolidate the diverse monetary systems currently spanning the eight member states using the CFA franc and the seven with their independent currencies, into a unified economic front. The Drive for a Unified Currency in ECOWAS The eco's inception is driven by the desire to enhance economic cohesion among ECOWAS nations. Presently, the CFA franc, pegged to the euro and backed by France, alongside various independent currencies, complicates trade and financial transactions. The eco promises to streamline these processes, fostering a more integrated and efficient economic landscape. Potential Benefits of the Eco The adoption of the eco could significantly lower transaction costs, simplify cross-border payments, and thereby boost intra-regional trade among ECOWAS's 385 million inhabitants. Such financial harmonization is anticipated to spur economic growth, stability, and integration, benefiting the entire West African region. Concerns and Challenges Ahead Notwithstanding the eco's potential, apprehensions loom regarding Nigeria's disproportionate influence over the currency's monetary policy, given its status as West Africa's largest economy. Critics argue this dominance could skew the eco's advantages, necessitating careful policy crafting to ensure equitable benefits. The Eco's Role in Global Economic Stability Economists Ferdinand Backoup and Daniel Ndoye posit that the eco could act as a bulwark for West African economies against the volatility of the global monetary system. By presenting a united front, ECOWAS can better mitigate external economic shocks, enhancing regional resilience. Gradual Implementation and Future Prospects The rollout of the eco is slated to be progressive, with initial adoption by countries meeting specific criteria. This phased approach underscores the cautious optimism surrounding the eco's integration into the West African economy and its potential to redefine regional economic dynamics. The eco represents not just a currency change, but a transformative step towards economic unity and resilience in West Africa. As the region stands on the brink of this monumental shift, the world watches with bated breath, eager to witness the unfolding of a new economic era in ECOWAS. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Former South African Leader Zuma's Party Joins Opposition in Parliament Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Jun 16, 2024 south Africa's former President Jacob Zuma, leader of the uMkhonto we Sizwe party South Africa's uMkhonto we Sizwe (MK) party, led by former president Jacob Zuma, announced on Sunday that it will join an alliance of smaller opposition parties in parliament. This move is aimed at challenging the coalition government formed by the African National Congress (ANC) and the Democratic Alliance (DA). The ANC, South Africa's long-time ruling party, recently partnered with the pro-business DA in a coalition they are calling a "government of national unity." This collaboration marks a significant shift after three decades of ANC dominance. In the May 29 election, the uMkhonto we Sizwe party performed unexpectedly well , securing 14.6% of the vote. This translated into 58 seats in the 400-seat National Assembly, placing MK in a strong third position behind the ANC and DA. Despite this success, MK lawmakers boycotted the first session of the National Assembly. They had filed a complaint with the country's top court alleging vote-rigging, but the court dismissed their claims as baseless. Nhlamulo Ndhlela, a spokesperson for Zuma, read a statement confirming that MK will join an alliance known as the "Progressive Caucus." This coalition includes the Marxist Economic Freedom Fighters (EFF) and the centre-left United Democratic Movement (UDM). Together, this alliance holds close to 30% of the seats in the National Assembly. During the announcement, Zuma, who appeared with a cough but responded to questions, was joined by Ndhlela and leaders from various small parties. The MK's strategic move to form this opposition alliance signifies a new dynamic in South African politics, challenging the existing power structures led by the ANC and DA. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Ethiopia's Commercial Bank Confronts Financial Setback After System Glitch Leads to Unauthorized $40M Withdrawals Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Mar 20, 2024 ​ The Ethiopia's biggest commercial bank is scrambling to recoup large sums of money withdrawn by customers after a systems glitch Addis Ababa, Ethiopia – In a startling turn of events, the Commercial Bank of Ethiopia (CBE), the nation's largest banking institution, is in the throes of a financial dilemma following a system malfunction that allowed customers to withdraw funds exceeding their account balances. The anomaly, detected early Saturday, resulted in over $40 million being illicitly withdrawn or transferred, causing a significant upheaval within the banking community. Rapid Response to Unprecedented Glitch The glitch, which spread like wildfire among the student population, primarily through messaging apps and direct communications, led to unusual activity at numerous CBE ATMs, particularly on university campuses. Eyewitnesses recounted scenes of long queues at ATMs as students capitalized on the system's vulnerability to extract funds unlawly. Abe Sano, President of CBE, addressing the media, highlighted the immediate measures taken to curb the financial hemorrhage, including halting transactions to assess and rectify the situation. Despite the swift intervention, the bank faced substantial withdrawals before the system could be secured. Central Bank's Assurance Amidst Financial Turmoil Ethiopia's central bank issued a statement attributing the glitch to maintenance activities, ensuring the public that the integrity of personal banking information remains uncompromised. The focus was directed towards the service disruption following the freeze on transactions, with a notable omission of the financial losses incurred. Educational Institutions Advocate Ethical Conduct In a commendable move, several universities have issued advisories urging students to act ethically by returning the misappropriated funds. In an assurance from Mr. Sano, individuals complying with this request will face no criminal charges, emphasizing the bank's intent to resolve the matter amicably. Community Response and Recuperation Efforts The aftermath has seen mixed responses, with some students voluntarily returning funds, aided by CBE personnel's presence on campuses. However, the overall success of these recuperation efforts remains uncertain, as reports of returned funds are sporadic. As CBE navigates through this financial predicamen t, the incident serves as a stark reminder of the fragility of digital banking systems and the paramount importance of robust security measures. The bank reassures its clientele, emphasizing the minor impact of the losses against its vast asset portfolio and dismissing concerns of a potential cyber-attack. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

Ethiopia's $250 Million Leap: Pioneering a Sustainable Digital Future with Bitcoin and AI Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Feb 21, 2024 ​ A Leap into Digital Economy Ethiopia is set to revolutionize its technological landscape with a massive $250 million investment aimed at establishing a state-of-the-art bitcoin mining and AI data center. Spearheaded by the Russian bitcoin mining company BitCluster, this ambitious project is poised to integrate cutting-edge technologies into Ethiopia's economic fabric, marking a significant stride towards the country's digital future​​. Strategic Partnerships and Economic Implications In a strategic move to bolster its digital economy, Ethiopia has partnered with Hashlabs Mining and Data Center Service to initiate a Bitcoin mining operation using advanced Canaan Avalon machines. This venture is not just about cryptocurrency mining; it's a comprehensive push towards creating a robust infrastructure for digital currency and AI, potentially positioning Ethiopia as a global hub for technological innovation and economic growth​​. Sustainable Development and Global Attention The project, known as Project Mano, is designed to leverage Ethiopia's abundant renewable energy resources, particularly hydroelectric power from the Grand Ethiopian Renaissance Dam. This eco-friendly approach ensures the bitcoin mining process is powered sustainably, aligning with the country's environmental goals. By adopting such forward-thinking initiatives, Ethiopia aims to draw international investment and attention to its burgeoning tech sector, promising significant economic benefits and employment opportunities​​. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024

PM Abiy Inaugurates Ashenafi Kebede Performing Arts Center at Yared School of Music Facebook X (Twitter) WhatsApp Copy link louis Buyisiwe Jun 9, 2024 ​ Prime Minister Abiy Ahmed Addis Ababa, June 8, 2024 – Prime Minister Abiy Ahmed inaugurated the Ashenafi Kebede Performing Arts Center, a new addition to the Yared School of Music at Addis Ababa University. Named after Ethiopia’s renowned musical artist, composer, conductor, historical musicologist, music educator, novelist, and poet, Professor Ashenafi Kebede, the center honors his legacy. Professor Kebede was also the first director of the Yared Music School. At the inauguration, Prime Minister Abiy expressed his pleasure, stating, "I am pleased to witness the inauguration of the Ashenafi Kebede Performing Arts Center at the Yared School of Music." Abiy highlighted the significance of Professor Kebede’s contributions, emphasizing the center's new director, Girma Yifrashewa, who aims to bridge the past and future of Ethiopian music. "Such continuity and linkage are essential in all our institutions. Music is powerful, and we must use this power to enlighten our youth," Abiy noted. The Prime Minister underscored the role of the arts in shaping future generations and boosting tourism. He called for efforts to promote Ethiopia’s rich artistic, historical, and cultural heritage. "The Yared School of Music has a responsibility to promote the history and culture of Ethiopia to the outside world," Abiy stressed. Founded in 1954 by the Ministry of Education & Fine Arts, the Yared School of Music stands as a premier state-owned institution for higher music education in Ethiopia. More Stories Ethiopia Death Toll from Ethiopian Landslides Rises to 157, Official Says Read More Community Jul 22, 2024 South Sudan South Sudan's Basketball Team: Forging a New countie's image Read More Sports Jul 22, 2024 Nigerian Manchester United Secure NIgerian-Danish Wonderkid Chido Obi-Martin from Arsenal Read More Sports Jul 21, 2024