Industry Updates
Around Africa in 6: News from across Africa in October 2022
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Just before we go into a new month, here’s a roundup of news from Africa in October 2022:
Kenya Swears In New Cabinet
The 22-man cabinet was sworn in on Thursday, October 27th, following its approval by parliament. Despite promising to have a gender-balanced cabinet, President Ruto only nominated only seven women. He kept one minister from the outgoing cabinet who will serve in an advisory capacity on national security and created a new position of prime cabinet secretary. The new government’s immediate focus will be to reduce the cost of living and the food crisis caused by failed rains.
Nigerian Government To Launch New Naira Notes By December 2022
The governor of the Nigerian Central Bank, Godwin Emefiele announced that the country’s currency would be redesigned. The notes to be redesigned include the ₦200, ₦500, and ₦1000 notes. He said that the new Naira notes will be in circulation by December 15, 2022, while the old ones will no longer be legal tender from January 31, 2023.
Ghana To Brace For Tax Hikes and Economic Cuts
With the Cedi being the worst-performing currency of the year, Ghana is faced with a looming debt crisis that has led it to seek help from the International Monetary Fund. It was speculated that measures to stabilize the nation’s finances would include raising funds and tax hikes to about 6% of the country’s GDP but Ghana’s information minister, Kojo Oppong Nkrumah said it was this is speculative.
Google Picks South Africa For Its First Cloud Region In Africa
Google announced that it is launching a new region in South Africa, its first on the continent, joining other providers like Amazon Web Services (AWS) and Microsoft Azure. The new cloud region will make it easier for customers, developers and educational institutions across Africa to move information online, improve access options for users and create jobs.
Nigerian Lecturers End Their Eight-Month Strike
Lecturers in Nigeria’s universities have suspended the strike which began eight months ago. The decision came after ASUU and government representatives negotiated for hours at a meeting mediated by members of the House of Representatives. However, The conditions of the suspension are not yet clear. The eight-month strike by university lecturers in Nigeria was one of the longest in the country’s history.
5G mobile launches in Kenya
Safaricom has activated 5G services in five cities in Kenya, including its capital, Nairobi. However, the costs are high. Those who can afford it will be able to experience data speeds 10 times faster than a 4G connection. The initiative to open up 5G will boost the country’s digital economy.