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News
Jensen Huang says that AI job destruction doomers are 'exactly backward"
10+ hour, 41+ min ago (429+ words) The Nvidia CEO countered all the AI doomerism at Y Combinator's Startup School. He differentiated between "tasks" and "jobs" and said AI could eliminate the former, not the latter. "Every single job will change, and there will be a whole…...
South Africa’s biggest retailers bets on South Africa’s informal economy with $1.3 billion fintech platform
5+ day, 10+ hour ago (608+ words) South African retailers are increasingly looking beyond clothing and groceries for growth, betting that financial services, not retail shelves, will drive their next phase of expansion. That shift was underscored on Wednesday after Pepkor Holdings, owner of brands including Pep,…...
East Africa’s largest economy unveils its strategy to be on the level of countries like the US and other advanced nations
6+ day, 22+ hour ago (353+ words) The East African country of Kenya recently unveiled its blueprint for becoming an economy designated as developed. This plan comes a few months after the president of Kenya, William Ruto, distanced the state of his country from that of a…...
African central banks brace for fresh inflation shock as Hormuz disruption rattles oil markets
1+ week, 9+ hour ago (409+ words) African central banks are expected to keep interest rates higher for longer as renewed geopolitical tensions in the Middle East threaten to reignite inflation across the continent, according to a Bloomberg report. Bloomberg reported that at least 11 African central banks…...
CEMAC’s largest economy expects a $1.75 billion mining windfall to overtake oil
1+ week, 4+ day ago (1045+ words) Cameroon is preparing for a historic shift in how it makes money, with the government expecting mining to generate more annual revenue than oil for the first time. The country is targeting more than $1.75 billion (1 trillion CFA francs) a year…...
Egypt defies IMF reform push with sweeping powers for military-linked economic giant
1+ week, 6+ day ago (747+ words) Egypt has approved one of its most significant economic reforms in years, granting sweeping powers to a military-linked authority at a time when the International Monetary Fund (IMF) is urging Cairo to reduce the state’s footprint in the economy. The…...
Egypt's most promising gold project, once considered too risky by a Canadian miner, launches soon
2+ week, 5+ day ago (488+ words) The Egyptian Marawat Gold Project, once labelled as risky by Canadian miner Aton Resources, is set to begin production in less than a year. The project, which is primarily intended to attract mining investments and provide direct and indirect job…...
Why Perplexity's founder doesn't think the American dream is over
3+ week, 4+ day ago (280+ words) Some say the American dream is fading, but for Aravind Srinivas, the CEO and co-founder of Perplexity, the US is still the land of opportunity. On an episode of "The Joe Rogan Experience," published on July 1, Srinivas said America's startup…...
Nigeria’s export boom gathers pace with $1.2 billion earned in just five months
3+ week, 4+ day ago (357+ words) For the first five months of the current year, Nigeria’s export earnings hit $1.2 billion, as container throughput surged compared to the same period last year. This information was disclosed by the Nigeria Customs Service, which noted that it processed 21,376 export…...
Kenya receives a $750 million loan from the World Bank to combat domestic loans
4+ week, 9+ hour ago (438+ words) Kenya has received more financial assistance from the World Bank to relieve strain on its public finances, decrease borrowing rates, and support crucial economic reforms. On Tuesday, the global lender announced the approval of a $750 million budget support package as…...