Business & Tech News
MTN Network Optimisation in 12 African Nations:
MTN Group, has announced that it has partnered with Meta to enhance the quality and reliability of voice and video calls made via real-time calling applications such as WhatsApp and other social media platforms that will be implemented across 12 MTN markets. The process includes optimising application-aware networks and network-aware applications and aims to deliver a more seamless, stable, and high-quality user experience.
MTN and Meta teams have been collaborating for some time now to identify key areas for improvement and have implement targeted network optimizations that enhance the interaction between mobile networks and real-time calling applications while maintaining efficient traffic delivery. According to a release by MTN, through the harnessing of data analytics and conducting comprehensive testing, they have successfully created and deployed solutions that significantly enhance the quality of experience for mobile users.
The first market to implement these enhancements has been Nigeria, where early results have shown notable improvements in key performance areas, including 50% improvement in quality, leading to a better user experience for MTN Nigeria mobile users.
Copper Holds Steady:
Copper futures have improved by over 13% in the last week and are holding steady above $4.60 per pound this morning, hovering near a one-week high as global risk sentiment improved despite ongoing uncertainty around US trade policy. Market optimism was buoyed by President Trump’s recent decision to exempt key technology products from reciprocal tariffs, coupled with reports suggesting a possible pause on his 25% auto import levies. Still, caution lingered after the US Commerce Department announced national security investigations into semiconductor and pharmaceutical imports. Providing additional support to copper prices were expectations that the US may still introduce metal-specific tariffs under national security provisions.
Asian Stocks Under Downward Pressure:
The Shanghai Composite index fell 0.4% to around 3,250 while the Shenzhen Component lost 0.7% to 9,815 in trade this morning, amid persistent concerns about the escalating China-US trade war. Investor sentiment took a hit as Chinese President Xi Jinping warned that “no one wins in a trade war” during the start of his diplomatic tour of Southeast Asia, underscoring Beijing’s cautious stance amid rising geopolitical friction. Markets were rattled by news that the US Commerce Department has launched national security investigations into semiconductor and pharmaceutical imports—two sectors with significant reliance on Chinese, supply chains. The US sources a large portion of its computer chips from Taiwan and pharmaceuticals from China. Markets are also assessing the impact of Trump’s reciprocal tariffs on China’s online selling platforms including PDD’s Temu and Alibaba’s Taobao and TMall.
Business News Shorts:
- In an attempt to improve the trade and political relations with the US South Africa has appointed former finance minister Mcebisi Jonas as a special envoy to the US to ease tensions between the two countries. This comes after the US expelled South Africa’s ambassador, Ebrahim Rasool, in March over remarks he had made about the Trump administration and his anti-American statements.
- Mark Zuckerberg, CEO of META has appeared as a witness in a landmark antitrust trial in the US yesterday, to defend his company against allegations that his company operates a social media monopoly. His testimony covered questions over the purchase of WhatsApp and Instagram and is part of a case first brought by the Federal Trade Commission (FTC) in 2020 claiming it to be a monopoly.
- Lesotho has granted Starlink an operating licence that will open satellite connectivity in the Southern African State. The Lesotho Communications Agency (LCA) confirmed that it had granted Starlink a 10-year licence. The country has many rural areas that have poor connectivity and the LCA said that the licence to Starlink was “a significant step forward in the country’s digital transformation”
Markets by Numbers
Currencies:
Currency markets are indicating the US Dollar trading stronger against the Euro, currently at 1.13485 and trading flat against the Pound at 1.32007. The Yen is trading softer and at 143.08 to the dollar currently. The rand has maintained its level below the R19.00 rand to the dollar mark and is trading at R18.83 to the US dollar currently.
Commodities:
- Gold futures prices have gained almost half a percent this morning and currently at $3227.
- Copper prices are gaining traction as trade concerns fade and at 4.6268 currently.
- Silver futures prices are trading upwards and trading at 32.301 currently.
- Platinum is trading upwards today and at $948.40 currently, while Palladium prices gained ground yesterday and at $928.50 currently.
- Brent Crude Oil prices continue to trend upwards and at $65.24 currently, with WTI also trading upwards at $61.89 currently.
- Cocoa futures are currently trading softer today, and at $8323 per ton.
- Coffee futures prices are trending upwards and is at $362.33 currently.
Crypto Currencies:
- Bitcoin prices have gained over 1% this morning and currently trading at $85516
- Ether prices currently trading over 1% higher this morning and at $16239 currently.
- $Trumpcoin is currently trading -3,6% lower this morning and at $8.03 currently
(All prices quoted at approximately 08H40 – Central African Time)
Other Breaking News in Africa Today
Mauritian ex Finance Minister Out on Bail:
The Mauritian High Court yesterday, granted bail to the former finance minister Renganaden Padayachy who has been charged with embezzlement alongside the former central bank governor Harvesh Seegolam. They are accused of embezzling around $6.7 million from the Mauritius Investment Corporation. This fund was created to help support companies impacted by the Covid-19 pandemic. The two have denied wrongdoing. Seegolam was released on bail last week. At Padayachy’s bail hearing, the Financial Crimes Commission, the country’s anti-corruption said it did not object to the bail application. The current administration under newly elected Prime Minister Navin Ramgoolam, has accused the previous administration of Pravind Jugnauth – under which the two former officials served – of lying about economic growth, the budget deficit and public debt for years.
Nigerian Gunmen Attack Leaves Dozens Dead:
A deadly and meaningless attack on civilians took place in the Nigerian area of Bassa yesterday, only one week after another raid claimed 52 lives. Gunmen suspected to be cattle rustlers raided two villages in Plateau state’s Bassa district before shooting and hacking their victims. At least 51 bodies were recovered by rescue teams. Dozens more were injured. A resident interviewed by Reuters said a mass burial was conducted for the victims. Plateau – in Nigeria’s centre – is one of the country’s most ethnically diverse states. Inter-communal fights pitting mostly Christian farmers and predominantly Muslim herders are common. Amnesty International said the gunmen also destroyed and looted homes. In a statement, the organization blamed ‘inexcusable’ security failures for Monday’s attack.
Algerian French Relations Deteriorate with Officials expelled:
Algeria has issued an order to expel 12 French consular staff members which was a response to charges filed in France on Friday against an Algerian consular official, accused with two other Algerians of taking part in the kidnap of an opposition dissident in the Paris suburbs a year ago. Algiers chose to see the arrest of the official as a flagrant contravention of the immunities and privileges that attach to his diplomatic functions. According to the official Algerian state-run news agency APS: “This unprecedented judicial incident… has not come about by chance. Its purpose is to scupper the relaunch of bilateral relations agreed by the two heads of state.
