Category: African Business
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Burkina Faso Armed Forces receive large batch of Turkish Bayraktar drones, government says
๐ง๐ซ๐น๐ท “The transitional president, head of state, Captain Ibrahim Traore, handed over this Monday a large batch of drones to the Ministry of Defense as part of the reconquest of territory and the fight against terrorism,” the office said, adding that Bayraktar TB2 and Bayraktar Akinci drones were procured. The tests of the UAVs were…
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David v. Goliath: Small language models challenge Big Techโs AI giants
Community-owned small language model project introduces a framework for incentivized data sharing, aiming to redefine AI development and user interaction. Assisterr targets the monopolization of AI by Big Tech, advocating for data ownership and the democratization of AI through community-owned small language models (SLMs), which offer tailored and efficient solutions. The debate on whether artificial…
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Trafigura’s Head of Oil Retires to Pursue Equestrian Passion Amidst Scandal
๐ฐJosรฉ Larocca, a prominent figure in global commodities trading, has announced his retirement from Olympic show jumping, marking the end of an era in Trafigura Group’s oil division. Larocca’s departure, revealed on April 5, follows an international scandal, yet to be linked to his personal conduct. Larocca, aged 55, held a pivotal role in Trafigura’s…
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Zimbabwe’s transition to new ZiG currency reportedly prompts banking disruptions
๐ฟ๐ผ Banking operations in Zimbabwe have been disrupted as financial institutions rushed to convert all Zimbabwe dollar account balances to ZiG, the new legal tender, media reported. Thus, ZimSwitch, the national payments platform provider, revealed that processing of local dollar transactions across financial institutions is currently unavailable. Nedbank, a South African banking giant operating in…
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Ethiopian securities exchange reaches capital raise target needed for operations
๐ช๐น The Ethiopian Securities Exchange (ESX) has achieved a milestone by meeting its initial capital raise target of $11.07 million required to kickstart its operations, the ESX said in a statement. The exchange announced that the fundraising effort was oversubscribed, with offers totaling $26.6 million from both domestic and foreign commercial investors, demonstrating robust interest…
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Africa reportedly bears annual cost of $8.4 billion due to hospital infections
๐๐ฅ Whatโs even more important is that hundreds of thousands die due to infections acquired in hospitals, the media revealed, citing a joint research by the international non-governmental organization WaterAid and the World Bank. Clean water, better restrooms, and handwashing facilities could prevent at least half of the cases, according to the paper. Notably, pediatric…
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SA Supreme Court of Appeal upholds release of report exposing US spying on ANC
๐ฟ๐ฆ๐บ๐ธ The court thus granted the appeal of journalist Thabo Makwakwa, who after receiving the report three years ago, approached the South African deputy minister of state security, but in response was confronted with the ministry’s demand that the report should be returned because his possession was “unauthorized.” The South African State Security Ministry filed…
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Zimbabwe unveils new currency as depreciation, inflation stoke turmoil
๏ฟ Zimbabwe on Friday launched a new currency to replace its previous one that in recent months has been battered by depreciation, and in some instances rejection by the population. Authorities hope the new measure will halt a currency crisis underlining the countryโs yearslong economic troubles. Reserve Bank of Zimbabwe Gov. John Mushayavanhu said the…
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Liberia reportedly reveals over 40,000 illegal civil servants
๐ฑ๐ท๐ผ The reason behind it is that the information of government officials was inaccurately or incompletely recorded in the Personnel Action Notice (PAN), which is an obligatory prerequisite procedure for employment, Josiah Joekai, the director general of the Civil Service Agency, told the Western media. According to Joekai, there are at least 70,000 civil servants…
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