Bitcoin Institute Shifting Focus Towards Africa's Cryptocurrency Market
In today's news, we bring you a selection of stories from around the world:
Leadership Change at Africa Bitcoin Institute
Anaïse Kanimba, the daughter of Paul Rusesabagina, has taken the helm at the Africa Bitcoin Institute. Kanimba, whose father is renowned for his role in saving over a thousand lives during the 1994 Rwandan genocide, is now leading the charge in promoting the use and understanding of cryptocurrencies across Africa.
MTN's Global Operations
South African telecommunications giant MTN has sold its subsidiary in Afghanistan and still holds a 49% stake in Iran's state-run Irancell. The company is currently under investigation by the US Department of Justice over its operations in these countries.
Political Developments
Israel is intensifying its military push on the Gaza strip while seeking to relocate Palestinians to other countries. Meanwhile, Hamas has reportedly accepted a ceasefire proposal that includes the release of hostages and prisoners, and the allowance of aid into the besieged territory.
Economic News
Ozempic, a diabetes and weight-loss drug, is becoming more affordable in the US, with Novo Nordisk halving the monthly cost to $499 for patients without health insurance. In a separate development, the Danish drugmaker launched its weight-loss drug Wegovy in South Africa last week, marking its Africa debut.
Investments and Deals
SoftBank is investing $2 billion in Intel, following news of the US government potentially taking a stake in the troubled chipmaking giant. Meanwhile, South African banking group Nedbank sold its stake in Ecobank for $100 million, and Soho House is going private in a $2.7 billion deal.
Legal Matters
MTN is facing a lawsuit by American military service members and civilians injured or killed in Afghanistan and Iraq between 2005-2010. The investigation could lead to an indictment and charges against the company.
Technology and AI
Sam Altman, the CEO of OpenAI, has described artificial intelligence as the most important thing to happen in a long time, but also warned of overexcited investors and insanely high valuations.
International Diplomacy
European leaders are joining Ukraine's President Volodymyr Zelenskyy at the White House, as they navigate President Donald Trump's alignment with Russia's position on ending the war. A separate NATO meeting is set for today, and a deal to end the war remains far afield.
Health and Humanitarian Issues
In rural Kenya, one-time transfers of $1000 in cash to households with pregnant women reduced infant mortality in the area by 48%. In Gaza, at least 263 people have died of starvation, and a ceasefire proposal has been accepted that includes the release of hostages and prisoners, and the allowance of aid into the besieged territory.
Cryptocurrency in Africa
The use of cryptocurrencies, particularly Bitcoin, is on the rise in Africa. This trend is driven by unstable local currencies, difficult and high-cost cross-border transactions, and as a store of value in the face of rising inflation. The Africa Bitcoin Institute, with support from organizations like the Human Rights Foundation and the Massachusetts Institute of Technology, is at the forefront of this movement.
