africa - CybAI news

19 Aug

South Africa’s MTN Has First Loss in Eight Years on Naira Slump

stp2y0 CommentsRAG modelsafrica, Earnings, Government, MTN GROUP LTD, nigeria, Nigeria Naira Spot, South Africa, South Sudan, Technology, US Dollar Spot, Wireless

MTN Group Ltd., Africa’s biggest wireless carrier by revenue, posted its first loss since 2016 after the devaluation of the Nigerian naira crimped income from one of its key markets.The group reported a loss of 7.39 billion rand ($414.7 million) in the six months through June, compared with 4.14 billion rand profit a year earlier. The loss is MTN’s first since it had to pay a more than $1 billion fine imposed on the company by the Nigerian government. Source link lol

13 Aug

South Africa Coal Export Line Will Need Five Years to Refurbish

stp2y0 CommentsRAG modelsafrica, china, Conservative, DEUTSCHE BAHN AG, Generic 1st 'XW' Future, infrastructure, JULY SARL/CAEN, Logistics, South Africa, Technology, TRANSNET LTD

South Africa’s state-owned rail company needs $669 million and five years to upgrade equipment to revive performance of its main export coal line, according to an internal report.Coal shipments plunged to a more than three-decade low of 48 million tons last year because of inefficiencies at Transnet SOC Ltd., which blamed lack of locomotives and spare parts for its woes. The two other major factors limiting the amount of the fuel shipped to the coast for export are infrastructure faults and issues with signaling systems, according to a final executive summary report seen by Bloomberg. Source link lol

09 Aug

Uganda to Cede 60% in State-Owned Telecom Operator UTel to Rowad

stp2y0 CommentsRAG modelsafrica, Americas, CAPITAL COMMERCIAL, Materials, Technology, Uganda, United States, Yoweri Kaguta Museveni

Uganda expects Rowad Capital Commercial LLC to invest an initial $225 million in its state-run telecommunications operator and take up a majority stake once ongoing talks are concluded.Dubai-based RCC will acquire 60% shareholding in Uganda Telecommunication Corp., or UTel, according to Aminah Zawedde, permanent secretary in the information communication technology ministry. She didn’t comment on whether the investment includes a purchase price for the stake. Source link lol

08 Aug

Anglo Revamp, Unity Government Seen Igniting South Africa Stocks

stp2y0 CommentsRAG modelsafrica, ANGLO AMERICAN PLC, Emerging Markets, Government, JSE LTD, Leila Fourie, Logistics, South Africa, Stock Index, stocks, Technology

A business-friendly coalition government and plans by Anglo American Plc to spin off one large subsidiary and possibly list another may trigger a sustained rally in South African stocks, the head of the main local bourse said. Even with the turmoil currently running through global stock markets, these developments are poised to snap South African equities out of more than a decade of torpor caused by economic stagnation and collapsing power and logistics services, said Leila Fourie, the chief executive officer of JSE Ltd., which runs the exchange. Source link lol

07 Aug

Lazard Brokers Sale of Africa Payment Firm OMOA to Tunisia’s SPE

stp2y0 CommentsRAG modelsafrica, EDGAR DUNN & CO LTD, europe, finance, Great Britain, Investor Relations, LAZARD INC, Markets, Private Equity, Technology, World Bank

Private equity investor Adenia Partners Ltd. said it will sell its 100% stake in African payments firms OMOA to Tunisia-based SPE Capital in a deal brokered by Lazard Inc.The deal, for an undisclosed price, will complete Adenia’s exit from the €96 million ($105 million) fund that purchased the stake alongside other holdings, head of investor relations Mack Schow said in an interview. Source link lol

06 Aug

Lethal Outbreak of New Mpox Strain Erupts in Central Africa

stp2y0 CommentsRAG modelsafrica, BAVARIAN NORDIC A/S, Central African Republic, cities, Congo, Cote d'Ivoire, Kenya, public health, Rwanda, Technology, World Bank

Countries in central Africa are racing to contain a multinational outbreak of a mutated mpox strain that’s killed almost 500 people in the Democratic Republic of the Congo alone since January.The fast-spreading virus is suspected to have infected more than 12,300 people in 2024 in the DRC, where it was first reported less than a year ago. Recent cases in Ivory Coast, Kenya and at least three other African countries have raised concern of an explosive contagion carried along newly built roads and highways connecting remote mining sites to cities and camps housing hundreds of thousands of conflict-displaced Congolese. Source…

23 May

The Low-Paid Humans Behind AI’s Smarts Ask Biden to Free Them From ‘Modern Day Slavery’

stp2y0 CommentsAIafrica, artificial intelligence, chatgpt, content moderation, crowdsourcing, joe biden, labor, meta, openai, social media

AI projects like OpenAI’s ChatGPT get part of their savvy from some of the lowest-paid workers in the tech industry—contractors often in poor countries paid small sums to correct chatbots and label images. On Wednesday, 97 African workers who do AI training work or online content moderation for companies like Meta and OpenAI published an open letter to President Biden, demanding that US tech companies stop “systemically abusing and exploiting African workers.”Most of the letter’s signatories are from Kenya, a hub for tech outsourcing, whose president, William Ruto, is visiting the US this week. The workers allege that the practices…