
<p><strong>Nigerian chess prodigy Tunde Onakoya is on a mission to break the Guinness World Record for the longest chess marathon while raising funds to support education for underprivileged youth.</strong></p>



<p>Tunde Onakoya, the convener of Chess in Slums Africa, a non-profit organization based in Lagos, aims to</p>



<p>surpass the previous 56-hour record with a 58-hour run in the bid to &#8220;raise a million dollars and bring the gift of chess to children across the world&#8221;.</p>



<p>&#8220;Our program aims to address challenges stemming from limited access to quality education and resources by focusing on skills that are academically enriching, practical, and relevant to their daily lives,” Onakoya told FORBES AFRICA in an exclusive interview recently.</p>



<p>Onakoya&#8217;s endeavor has garnered attention, donation, and support from various quarters.</p>



<p>After headlining at Madison Square Garden, Nigerian Afrobeats sensation Davido made a surprise visit to Onakoya&#8217;s chess marathon in the open air of Times Square, a major commercial intersection, tourist destination, entertainment hub, and neighborhood in Midtown Manhattan, New York City, United States.</p>



<p>Onakoya took to X (formerly Twitter) to express his gratitude, stating, &#8220;30 billion for the children as @davido places his chain around my neck. Thank you very much for stopping by after your successful outing at @TheGarden.&#8221;</p>



<p>He has also received support from other notable personalities, including Nigerian Afrobeats artist Adekunle Gold, who also visited the marathon earlier.</p>



<p>Onakoya received messages of goodwill from the federal government of Nigeria, state governors, and the US Mission in Nigeria.</p>



<p>The attempt, which officially commenced 11.30AM (EST) on April 17 is expected to end around 10PM (EST) today.</p>


Davido at the marathon with Tunde Onakoya; Image credit @Tunde_OD

After Headlining At Madison Square Garden, Davido Makes Stopover To Cheer On Nigerian Champion Attempting To Break Chess Marathon Record In NYC


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>The Israeli military reportedly launched airstrikes targeting Iran early on Friday, in response to Tehran’s drone attack on its territory over the weekend, amid concerns about escalation between the two Middle Eastern nations.</p>



<h2 class="wp-block-heading">KEY FACTS</h2>



<p>Citing unnamed Iranian officials, the New York Times&nbsp;<a href="https://www.nytimes.com/live/2024/04/18/world/israel-iran-gaza-war-news/blasts-are-reported-near-the-iranian-city-of-isfahan?smid=url-share" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;the strikes hit an airbase near the city of Isfahan in central Iran, while an unnamed “senior U.S. official” told&nbsp;<a href="https://abcnews.go.com/International/live-updates/israel-gaza-hamas-war/?id=108860743" rel="noreferrer noopener" target="_blank">ABC News</a>&nbsp;that Israel had launched a missile strike against Iran.</p>



<p>The Iranian state controlled Fars News Agency also reported explosions being heard near the Isfahan airport, but an official later told the state media that explosions were caused by air defense batteries firing at a&nbsp;<a href="https://www.irna.ir/news/85449584/%D8%B3%D8%B1%D8%AA%DB%8C%D9%BE-%D8%AF%D9%88%D9%85-%D9%85%DB%8C%D9%87%D9%86-%D8%AF%D9%88%D8%B3%D8%AA-%D8%B5%D8%AF%D8%A7%DB%8C-%D8%A7%D9%86%D9%81%D8%AC%D8%A7%D8%B1-%D9%86%D8%A7%D8%B4%DB%8C-%D8%A7%D8%B2-%D8%B4%D9%84%DB%8C%DA%A9-%D9%BE%D8%AF%D8%A7%D9%81%D9%86%D8%AF-%D8%A7%D8%B5%D9%81%D9%87%D8%A7%D9%86-%D8%A8%D9%87" rel="noreferrer noopener" target="_blank">suspicious object</a>.</p>



<p>On Iranian state TV, however, the country’s officials publicly&nbsp;<a href="https://www.haaretz.com/israel-news/2024-04-18/ty-article-live/five-idf-reservists-in-serious-condition-following-rocket-drone-strike-on-northern-israel/0000018e-eecd-daad-a3de-eeff299e0000?liveBlogItemId=11850594&amp;utm_source=site&amp;utm_medium=button&amp;utm_campaign=live_blog_item#11850594" rel="noreferrer noopener" target="_blank">dismissed</a>&nbsp;reports of the strike, calling it “Israeli and American media propaganda” and denied that an emergency meeting of the Supreme National Security Council had been convened.</p>



<p><a href="https://www.bloomberg.com/news/live-blog/2024-04-19/middle-east-latest?cursorId=6621F343688C0000" rel="noreferrer noopener" target="_blank">According to</a>&nbsp;Bloomberg, Israel had informed the U.S. officials on Thursday about its plan to carry out a strike on Israel in the following 24-48 hours.</p>



<p>Sources cited by&nbsp;<a href="https://www.nbcnews.com/news/world/live-blog/iran-israel-attack-live-updates-rcna148496/rcrd39372?canonicalCard=true" rel="noreferrer noopener" target="_blank">several</a>&nbsp;<a href="https://www.foxnews.com/world/israel-strikes-site-iran-retaliation-weekend-assault" rel="noreferrer noopener" target="_blank">outlets</a>&nbsp;referred to the retaliatory attacks as “limited” while a retired military general appearing on Israel’s Channel 12 said he believed it was a “symbolic attack” that may not force a response by the Iranians.</p>



<p>The Israeli military has refused to comment on reports of the attack so far.</p>



<h2 class="wp-block-heading">TANGENT</h2>



<p>Real time air traffic data on FlightRadar24 showed&nbsp;<a href="https://twitter.com/OrenCNN/status/1781132736423403933" rel="noreferrer noopener" target="_blank">several airplanes diverting</a>&nbsp;away from Iran just after the strikes were reported. FlightRadar24 then&nbsp;<a href="https://twitter.com/flightradar24/status/1781150391280750655" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;that Iranian authorities had issue a notification informing pilots that the airports in Isfahan, Shiraz and the national capital Tehran were closed. Budget Emirati carrier Fly Dubai&nbsp;<a href="https://www.khaleejtimes.com/world/mena/flydubai-airline-cancels-flights-to-iran-statement" rel="noreferrer noopener" target="_blank">confirmed</a>&nbsp;receiving the notification and announced the cancellation of its flights to Iran. The notices of closure at all three airports were&nbsp;<a href="https://twitter.com/flightradar24/status/1781194845991633032" rel="noreferrer noopener" target="_blank">lifted</a>&nbsp;a few hours later.</p>



<h2 class="wp-block-heading">CRUCIAL QUOTE</h2>



<p>An unnamed Israeli official cited by the Washington Post said the attack “was intended to signal to Iran that Israel had the ability to strike inside the country.”</p>



<h2 class="wp-block-heading">WHAT TO WATCH FOR</h2>



<p>The extent of the damage from the attack remains unclear. Iranian authorities said nuclear facilities located near Isfahan <a href="https://www.irna.ir/news/85449584/%D8%B3%D8%B1%D8%AA%DB%8C%D9%BE-%D8%AF%D9%88%D9%85-%D9%85%DB%8C%D9%87%D9%86-%D8%AF%D9%88%D8%B3%D8%AA-%D8%B5%D8%AF%D8%A7%DB%8C-%D8%A7%D9%86%D9%81%D8%AC%D8%A7%D8%B1-%D9%86%D8%A7%D8%B4%DB%8C-%D8%A7%D8%B2-%D8%B4%D9%84%DB%8C%DA%A9-%D9%BE%D8%AF%D8%A7%D9%81%D9%86%D8%AF-%D8%A7%D8%B5%D9%81%D9%87%D8%A7%D9%86-%D8%A8%D9%87" target="_blank" rel="noreferrer noopener">were safe</a>. The International Atomic Energy Agency also <a href="https://twitter.com/iaeaorg/status/1781196309329793463" target="_blank" rel="noreferrer noopener">confirmed</a> this while calling for restraint and saying “nuclear facilities should never be a target in military conflicts.”</p>



<h2 class="wp-block-heading">KEY BACKGROUND</h2>



<p>On Wednesday, Iran’s President Ebrahim Raisi&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/04/17/iran-threatens-fierce-and-severe-response-if-israel-launches-tinest-invasion-in-response-to-weekend-attack/?sh=447e1fd11083">warned</a>&nbsp;that any military incursion by Israel would be met with a severe response. Over the weekend, Iran launched hundreds of drones and ballistic missiles targeting Israeli territory in an unprecedented attack. Israel claimed the strikes resulted in only minor damages as its military—along with U.S. and other allied forces in the region—were able to&nbsp;<a href="https://www.nytimes.com/live/2024/04/13/world/israel-iran-gaza-war-news/611216e4-0347-518a-bd58-51184c463120?smid=url-share" rel="noreferrer noopener" target="_blank">shoot down 99%</a>&nbsp;of the missiles and drones. Iran said its attack was in response to an Israeli airstrike on its diplomatic compound in Damascus that resulted in the deaths of 16 people—including two senior military leaders.</p>



<h2 class="wp-block-heading">FURTHER READING</h2>



<p><a href="https://apnews.com/article/iran-israel-mideast-tensions-4-19-2024-a7ccbae2e2844bab089e8e4377a24ddb" rel="noreferrer noopener" target="_blank">Iran fires air defense batteries at Isfahan air base and nuclear site after drones spotted</a>&nbsp;(Associated Press)</p>



<p><a href="https://www.forbes.com/sites/siladityaray/2024/04/17/iran-threatens-fierce-and-severe-response-if-israel-launches-tinest-invasion-in-response-to-weekend-attack/?sh=447e1fd11083">Iran Threatens ‘Fierce And Severe’ Response If Israel Launches ‘Tinest Invasion’ In Response To Weekend Attack</a>&nbsp;(Forbes)</p>


Iranian official TV confirms ‘massive explosions’ in central Isfahan province

Israeli Missiles Reportedly Strike Airbase In Central Iran


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Set to occur on Saturday is the highly anticipated bitcoin halving event, a somewhat mysterious phenomenon that occurs every four years, which should theoretically provide a major tailwind to bitcoin prices flatlining in recent weeks.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>The halving event refers to the 50% reduction in the new bitcoins available daily to digital miners who unlock tokens on the blockchain via a complex, energy-intensive process.&#8221;</p>



<p>Halving previously occurred in 2012, 2016 and 2020, and is programmed directly into the bitcoin ecosystem to occur every four years, with the fourth instance widely expected to come Saturday, or within a few days, cutting the amount of bitcoins available for mining each day from 900 to 450.</p>



<p>Between 19 million and 20 million bitcoins now exist, with only&nbsp;<a href="https://www.forbes.com/sites/digital-assets/article/the-21-million-question---is-bitcoin-supply-really-capped/?sh=16f31a4a7984">21 million</a>&nbsp;tokens ever programmed to exist, and halvings are designed to keep the supply of bitcoin limited, and maintaining the decentralized currency’s storage of value.</p>



<p>By lowering the supply, some expect the 2024 halving will drive demand for bitcoin, and therefore its price, which happened in the immediate aftermath of the three other events.</p>



<p>Bitcoin&nbsp;<a href="https://www.coindesk.com/learn/bitcoin-halving-explained/" rel="noreferrer noopener" target="_blank">rose</a>&nbsp;8,069% in the 12 months after the 2012 halving, 284% following the 2016 halving and 559% after the 2020 halving.“It’s pretty much Economics 101” that bitcoin prices go up after halving, according to Sevens Report analyst Tom Essaye, who explained that so long as demand doesn’t decrease and new supply goes down, the “only thing left to move is price.”</p>



<h2 class="wp-block-heading" id="h-contra">CONTRA</h2>



<p>It’s far from a given that bitcoin demand will stay steady or increase, and three halving data points hardly make enough of a trend to definitively declare how bitcoin prices will behave during this halving cycle. It’s often hard to sift through the opinions of bitcoin revilers and zealots, but the former will tell you that bitcoin is already overvalued considering its limited use cases. But bitcoin’s ludicrous market-beating returns in recent years are hard for even the biggest pessimist to dismiss: The $61,000 per token bitcoin fetched Wednesday is roughly seven times its price at the 2020 halving, 90 times its 2016 level and 4,000 times its 2012 level.</p>



<h2 class="wp-block-heading" id="h-so-why-are-bitcoin-prices-down">SO WHY ARE BITCOIN PRICES DOWN?</h2>



<p>Bitcoin is about 17% below its all-time high of $73,768 set last month, with Saturday’s flash&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2024/04/13/bitcoin-plummets-after-iran-launches-attack-on-israel/?sh=14a5c6681f70">10% crash</a>&nbsp;as Iran launched a drone attack on Israel exemplifying the fragile nature of the rally. Bernstein analyst Gautam Chhugani explained to clients Wednesday that it’s actually “new demand catalysts” overlapping with prior halvings that helped drive price increases, explaining that the current cycle’s catalyst actually already happened: January’s approval of spot bitcoin exchange-traded funds, which unlocked billions of dollars of new capital into bitcoin and contributed most strongly to the positive price action, as bitcoin remains up nearly 300% dating back to the beginning of last year. Chhugani expects bitcoin to reach as high as $150,000 next year, a highly bullish forecast that is more than double even its all-time high.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>Halvings are likely a boon for bitcoin holders, but it’s a major challenge for miners, considering it quite literally halves their potential revenue stream – imagine if regulation allowed McDonald’s to sell Big Macs but no fries. Shares of CleanSpark (up 38%), Marathon Digital (down 36%) and Riot Platforms (down 48%), the three most prominent publicly traded American bitcoin miners, have all underperformed bitcoin this year, Chhugani noted, adding that the halving may actually be a good thing for investors as the pressure can lead to consolidation and more profitable companies.</p>


Crypto in Tbilisi as Devotees Begin to Contemplate a Market Bottom

Bitcoin Halving: Here’s Why Some Expect Prices To Soar


<p>Diverse photography can help challenge perceptions and fight stereotypes. When Amanda Esther Akokhia started her photo studio some five years ago in the United Kingdom (UK), where she grew up, she was not aware just how important this was. At the time, photography was a hobby but it soon began to give her life purpose and meaning.</p>



<p>“When I started working, I would leave work during lunch, take pictures and return to work, and that was how I started photography. I wasn’t really fulfilled doing my job, but photography made me really happy. I knew in my heart that this is what I wanted to do [for] a living. That led me to open my first studio at 24,” says Akokhia, born in the UK but whose parents are Nigerian.</p>



<p>She’s the owner of Green Studio and now has over a decade of experience in the industry. Through education and the consistent drive for representation, she hopes to use her photography platform, Amanda Akokhia Photography, to bring about much-needed change.</p>



<p>The <em>British Journal of Photography</em> found that, globally, about 70% &#8211; 80% of photography students are women but they only account for 13% &#8211; 15% of professional photographers. Furthermore, the United States Bureau of Labor Statistics also reportedly estimated that, although women account for half of all working photographers, they still struggle to get opportunities.</p>



<p>When Akokhia started cutting her teeth in the industry, she had already noticed the disparity.</p>



<p>“I knew I wanted to do photography, but I could not find any successful role models that looked like me in the industry to emulate,” she recalls.</p>



<p>This was before the Covid-19 pandemic. Despite this, she decided to fully commit – she quit her legal profession and opened her studio with £10,000 ($12,400), which she secured through a combination of savings and investment from her business partner.</p>



<p>“They believed in my vision and were eager to contribute,” says Akokhia.</p>



<p>In those days the vision for the brand was simple.</p>



<p>“I didn’t know what the industry was like, I just knew my dream was to shoot for big magazines and to see my pictures on billboards. I was really interested in beauty and fashion and my vision was to be a commercial photographer who shot for the big brands that I admired so much growing up. I didn’t know how I was going to get there but I knew that was what I wanted to see myself doing,” Akokhia adds.</p>



<p>Within two years of opening her business, Akokhia had already fulfilled her goals in photography, working with brands like <em>BBC, Warner Brothers, Harper’s Bazaar, Cosmopolitan, Disney</em> and Pantene, among others.</p>



<p>“I started thinking [about] what the new vision for me at this stage of my life is. And I started to imagine a world where everyone would feel seen and can be seen through my work and encouraging other photographers to capture everyone. Sometimes, when you look at magazines in the UK, you only see photographers of a certain type and color. I shoot everyone as I would shoot a model for a campaign shoot,” she says.</p>



<p>Akokhia has steadily grown her business from one that generated a monthly revenue of £5,000 ($6,200) to one that has secured individual commercial campaigns worth £15,000 ($18,600) by elevating her business and building relationships with prominent commercial brands. An important focus for her is representation in her work, both behind the lens and in front of it.</p>



<p>And, as a rising creative in the sector, Akokhia hopes to achieve her new vision for creating inclusivity through training and mentorship, where she teaches future photographers and creatives how to turn their passion into a business.</p>


Amanda Esther Akokhia started her first photo studio at the age of 24; image supplied

The UK-Based Nigerian Photographer Using A Different Lens To Challenge Norms


<p>On April 7, world leaders, including several Heads of State such as South Africa’s Cyril Ramaphosa and former United States President Bill Clinton, joined Rwanda for the 30<sup>th</sup> commemoration of the genocide against the Tutsi. Known as Kwibuka30 and held under the theme <em>Remember-Unite-Renew</em>, it honored the memory of the victims of the genocide and reflected on the country’s three-decade journey of national unity, reconciliation, economic growth and development.</p>



<p>This date in 1994 had seen the merciless massacre of over a million Tutsis. In just 100 days, men, women, children and even the elderly, were indiscriminately killed. Their only crime was their ethnicity.</p>



<p>In the ceremony held at the Kigali Genocide Memorial – the final resting place for over 250,000 victims – Rwanda’s President Paul Kagame and First Lady Jeanette Kagame lit the Flame of Remembrance that will burn for the next 100 days. At the BK Arena, a somber ceremony marked the opening of a week of remembrance. In the middle of the arena was a stunning, well-lit tree-like decorative piece that the organizers described as: “The tree’s branches and foliage represent the protection that targeted families could not find, during the genocide, and that Rwandans today can count on. The upright trunk echoes the aspirations of the young generation, reinforced by the internal light and flowing sap of life within. The roots illustrate the memory of the past that we must preserve, our shared Rwandan culture on which we are all anchored, and from which we draw inspiration and strength, to reach for the sky, as we build a brighter future.”</p>



<p>Young Rwandan artists retold the country’s story through moving contemporary song and dance performances, demonstrating how Rwanda has risen from the ashes over the years and is rebuilding, brick by brick.</p>



<p>Many in the arena could not hold back tears as Marie Louise Ayinkamiye, a survivor, shared her testimony. She was only 11 years old when the genocide happened. Her father and four siblings were brutally killed. Ayinkamiye said that though the impact of the genocide continued long after the killings stopped, survivors had to tap into their inner strength and forge ahead with courage and determination. “We survivors are strong. We will build the country together,” she said.</p>



<p>In a heartfelt message to the nation, President Kagame began by condoling with the genocide survivors and thanking them for agreeing to bear the burden of reconciliation.</p>



<p>“Today, our hearts are filled with grief and gratitude in equal measure. We remember our dead, and are also grateful for what Rwanda has become. To the survivors among us, we are in your debt. We asked you to do the impossible by carrying the burden of reconciliation on your shoulders. And you continue to do the impossible for our nation, every single day, and we thank you.”</p>



<p>On the way forward and the country’s future, the President said that the youth are Rwanda’s source of hope and confidence. “Only a new generation of young people has the ability to renew and redeem a nation after a genocide. Our job was to provide the space and the tools for them to break the cycle. And they have. Nearly three-quarters of Rwandans today are under age 35. They either have no memory of the genocide, or were not yet born. Our youth are the guardians of our future and the foundation of our unity, with a mindset that is totally different from the generation before.”</p>



<p>To conclude his remarks, the President made a strong statement: “Our people will never — and I mean never — be left for dead again.”</p>



<p>The international community has been accused of failing Rwanda in her hour of need. Clinton called the genocide the biggest failure of his administration. Secretary-General of the United Nations, Antonio Guterres, paid his tribute: “The genocide against the Tutsi in Rwanda 30 years ago is a stain on our collective consciousness and a brutal reminder of the legacy of colonialism and the consequences of hate speech.”</p>



<p>As part of the commemoration, four genocide memorial sites in Rwanda were added to UNESCO’s World Heritage List, in a historic decision that was well-received in Rwanda. At the same time, iconic monuments in various cities around the world, were lit in colors of the Rwandan flag, as part of a joint Rwanda-UNESCO initiative in collective memory of the genocide against the Tutsi.</p>


Kwibuka30 at the BK Arena; image supplied

Remembering The Pain And Lessons Learned: Rwanda Honors Historic Anniversary Of The Genocide Against The Tutsi


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>The price of bitcoin dropped by 7% on Saturday over the course of less than an hour, as prices for other cryptocurrencies also sharply declined after Iran launched an attack on Israel.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>The price of bitcoin was&nbsp;<a href="https://www.forbes.com/digital-assets/assets/bitcoin-btc/?sh=57fc0c8a4357">down</a>&nbsp;7% to $62,570 as of 4:40 p.m. Saturday afternoon, after the cryptocurrency briefly fell to a low on the day of $60,908 minutes earlier.</p>



<p>The price of ethereum fell over 9% to $2,923, while prices for Binance coin and solana dropped 9% and nearly 18%, respectively.</p>



<p>Prices for several less-traded cryptocurrencies dropped by at least 15%, including avalanche (20%), XRP (20%) and the meme token dogecoin (18%).</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>$73,750. That’s what the&nbsp;<a href="https://www.forbes.com/advisor/in/investing/cryptocurrency/bitcoin-down-to-64000-after-record-high/">price</a>&nbsp;for bitcoin was on March 24, the all-time high price for the cryptocurrency.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Concerns over increased geopolitical conflict in the Middle East have impacted U.S. markets in recent days. The Dow Jones Industrial Average&nbsp;<a href="https://www.cnn.com/2024/04/12/investing/stocks-oil-banks-geopolitics/index.html" rel="noreferrer noopener" target="_blank">dropped</a>&nbsp;by 475 points Friday, after the White House said the U.S. and Israel were preparing for a potential attack by Iran. JPMorgan Chase CEO Jamie Dimon told investors geopolitical conflict was cause for concern, noting it could “be determinative on what happens to the global economy if oil and gas prices go too high,” CNN&nbsp;<a href="https://www.cnn.com/2024/04/12/investing/jpmorgan-chase-bank-earnings-q1/index.html" rel="noreferrer noopener" target="_blank">reported</a>.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/jamesfarrell/2024/04/13/iran-launches-drone-attack-on-israel/?sh=343044cb2130">Iran Launches Drone Attack On Israel</a> (<em>Forbes</em>)<a href="https://www.forbes.com/sites/tylerroush/"></a></p>


Iran-Reaction, IRGC Missile And UAV Attack On Israel

Bitcoin Plummets After Iran Launches Attack On Israel


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Iran’s long-anticipated attack on Israel has started, as the country has launched unmanned aerial vehicles from within Iran set to reach Israel in the next “several hours,” the <a href="https://twitter.com/IDF/status/1779242779182288964" target="_blank" rel="noreferrer noopener">Israel Defense Forces</a> confirmed Saturday afternoon.</p>



<h2 class="wp-block-heading">KEY FACTS</h2>



<p>In a press conference, IDF spokesperson&nbsp;<a href="https://twitter.com/SkyNews/status/1779241449889919327" rel="noreferrer noopener" target="_blank">Daniel Hagari</a>&nbsp;said the IDF is going to “try to prevent them from reaching Israeli territory.”</p>



<p>He added the IDF would inform the public of additional threats if necessary, while the IDF is on “high alert and is constantly monitoring the operational situation”—Iran has also launched cruise missiles in addition to the drones, according to&nbsp;<a href="https://www.cnn.com/middleeast/live-news/israel-hamas-war-gaza-news-04-13-24/h_459325a36ff45ef1b197dc12352d75ce" rel="noreferrer noopener" target="_blank">CNN</a>, citing Israeli media.</p>



<p>The&nbsp;<a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/13/statement-from-nsc-spokesperson-adrienne-watson-on-attacks-against-israel/" rel="noreferrer noopener" target="_blank">White House</a>&nbsp;issued a statement confirming Iran’s “airborne attack against Israel,” noting President Joe Biden is being “regularly updated on the situation” by national security officials and is in “constant communication” with Israel and other allies.</p>



<p>The Islamic Revolutionary Guard Corps reportedly confirmed the strikes in a statement read on Iranian state media, according to<a href="https://www.cnn.com/middleeast/live-news/israel-hamas-war-gaza-news-04-13-24/h_885917fe5b91668450e443aab2c20d29" target="_blank" rel="noreferrer noopener"> CNN</a> and the <a href="https://www.nytimes.com/live/2024/04/13/world/israel-iran-gaza-war-news" target="_blank" rel="noreferrer noopener">New York Times</a>, claiming it had launched “dozens of drones and missiles” toward “certain targets in the territories of the Zionist regime.”</p>



<div class="wp-block-media-text is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img loading="lazy" decoding="async" width="1024" height="705" src="https://cms.forbesafrica.com/wp-content/uploads/2024/04/GettyImages-2147801988.jpg" alt="" class="wp-image-61656 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/04/GettyImages-2147801988.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/04/GettyImages-2147801988-300x207.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/04/GettyImages-2147801988-768x529.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure><div class="wp-block-media-text__content">
<p><strong><em>An Iranian man is sitting on a sidewalk in downtown Tehran, Iran, on April 14, 2024, holding a Jam-e Jam daily newspaper that features an illustrated image of Iran&#8217;s Islamic Revolutionary Guard Corps (IRGC) missile and UAV attack. He is looking on as Iran launches dozens of Unmanned Aerial Vehicles (UAVs) and missiles against Israel in response to the Israeli attack on its Consulate in Damascus. (Photo by Morteza Nikoubazl/NurPhoto via Getty Images)</em></strong></p>
</div></div>



<p>The attacks have been&nbsp;<a href="https://www.forbes.com/sites/jamesfarrell/2024/04/13/everything-we-know-about-a-potential-iranian-attack-on-israel-as-us-suggests-strike-is-imminent/?sh=1a2984c665a9">highly anticipated</a>&nbsp;following a strike on an Iranian embassy in Syria—which Iran blamed on Israel—that killed several Iranian military officials, prompting global concern that an Iranian strike could widen tensions across the region amid the ongoing Israel-Hamas war.</p>



<p>Just ahead of the attack, the IDF issued new <a href="https://twitter.com/IDF/status/1779202651688702286" target="_blank" rel="noreferrer noopener">guidelines</a> for Israeli citizens at home, limiting certain gatherings to 1,000 people and prohibiting educational activities across the country, while <a href="https://www.reuters.com/world/middle-east/jordan-temporarily-close-airspace-state-media-says-2024-04-13/" target="_blank" rel="noreferrer noopener">Jordan </a>and <a href="https://www.barrons.com/news/iraq-closes-airspace-as-iran-launches-attack-on-israel-ministry-4adb745a" target="_blank" rel="noreferrer noopener">Iraq</a> reportedly closed their airspace temporarily.</p>



<h2 class="wp-block-heading">CRUCIAL QUOTE</h2>



<p>“The United States will stand with the people of Israel and support their defense against these threats from Iran,” National Security Council spokesperson Adrienne Watson said in the White House statement.</p>



<h2 class="wp-block-heading">WHAT WE DON’T KNOW</h2>



<p>It’s unclear what Iran is targeting—though recent&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-04-10/us-sees-missile-strike-on-israel-by-iran-proxies-as-imminent?sref=yYYRek8e" rel="noreferrer noopener" target="_blank">reports&nbsp;</a>had suggested Iran was planning on targeting military or government sites. It’s unclear how, or if, Israel will respond to the attack. Israeli officials had in recent days vowed&nbsp;<a href="https://apnews.com/article/israel-hamas-war-latest-04-11-2024-9774f91ef80126e580ea5a9b3b84eb74" rel="noreferrer noopener" target="_blank">retaliation</a>&nbsp;in the event of an attack.&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2024/04/12/biden-expects-iran-to-attack-israel-sooner-rather-than-later/?sh=11f13de82b53">Biden</a>&nbsp;had also promised the United States would support Israel in the event of an Iranian attack. Iranian officials had criticized both Israel and the United States immediately following the embassy attack—Iran’s U.N. ambassador<a href="https://newyork.mfa.ir/portal/NewsView/742465/Ambassador39s-Statement-Before-UNSC-Following-Israeli-Regime39s-Airstrikes" rel="noreferrer noopener" target="_blank">&nbsp;Zahra Ershada</a>&nbsp;said in a statement that the “United States is responsible for all crimes committed by the Israeli regime,” while&nbsp;<a href="https://twitter.com/MhmmdJamshidi/status/1776238843710058907" rel="noreferrer noopener" target="_blank">Mohammad Jamshidi</a>, an advisory to Iranian President Ebrahim Raisi, said in a message directed to the U.S. on X, formerly known as Twitter: “Stay away so you won’t get hurt.”</p>



<h2 class="wp-block-heading">CONTRA</h2>



<p>Some reports suggest Iran is aiming to avoid a wider conflict, with&nbsp;<a href="https://www.reuters.com/world/middle-east/israel-edge-iranian-retaliation-after-embassy-strike-2024-04-12/#:~:text=IRAN%20WANTS%20TO%20AVOID%20ESCALATION%2C%20SOURCES%20SAY&amp;text=Iranian%20sources%20and%20diplomats%20from,might%20spin%20out%20of%20control." rel="noreferrer noopener" target="_blank">Reuters&nbsp;</a>reporting Friday that Iranian sources said Tehran had alerted the U.S. that it hopes to avoid a broader conflict.</p>



<h2 class="wp-block-heading">WHAT TO WATCH FOR</h2>



<p>At his press conference, Hagari said Israel’s army had been preparing for the attack in advance and “all of its elements both on the defensive and the offensive are prepared.” He said Israel has various “circles of protection” from its navy and air force with additional circles of protection from the United States. He added: “We have an excellent air defense system and it is now in full operation, but you must remember it’s never 100%—the defensive measures,” and urged residents to remain calm.</p>



<h2 class="wp-block-heading">KEY BACKGROUND</h2>



<p>The airstrike on the facility in Syria reportedly killed seven Iranian military officials. Israel has been widely blamed for the attack, though it has not claimed responsibility. The strike and anticipated response has prompted concern that continued tit-for-tat between Israel and Iran could significantly widen the crisis in the Middle East, expanding out from the ongoing Israel-Hamas war in Gaza. Iran has long been a vocal supporter of Hamas and materially supports other proxy groups that oppose Israel, like the Houthis in Yemen and Hezbollah in Lebanon.</p>


Iranians Celebrate Iran’s IRGC Missile And UAV Attack Against Israel

Iran Launches Drone Attack On Israel


<p>Senegalese and other Africans are anticipating the first-ever Youth Olympic Games to be hosted on the continent in 2026, in Dakar, the capital of Senegal.</p>



<p>Rescheduled for October 31 to November 13, 2026, the proposed games is set to bring together the world&#8217;s finest young athletes to compete in 35 different sports over a span of 14 days.</p>



<p>In place of the 2022 event, the Dakar en Jeux (Dakar in Games) festival was held from October 29 to November 5, the originally planned Dakar 2022 period, across the three host cities of Dakar, Diamniadio, and Saly.</p>



<p>Since then, Dakar en Jeux has become an annual celebration of sport and culture, serving as a precursor to Dakar 2026 while encouraging increased youth engagement in sports.</p>



<p>International Olympic Committee (IOC) President Thomas Bach has in news reports expressed his support for Senegal&#8217;s hosting of the Youth Olympic Games, noting Africa&#8217;s unity and its sporting culture. &#8220;With a young population and a passion for sport, it is time for Africa, it is time for Senegal,” he has noted.</p>



<p>During his visit to Senegal in 2022, disclosing his anticipation for the event, Bach said: “We cannot wait for the moment to be back here and to enjoy this first Olympic event on African soil, an event for Africa, with Africa, that will welcome the youth of the world in Senegal. We can expect a festival of excellence in sport, of African culture, the joy of living and the wonderful hospitality of the African people.”</p>



<p>Senegal-based sports analyst Rufai Shuaib considers the event to be of historic significance.</p>



<p>&#8220;This is a monumental moment for African sports. The hosting of the Youth Olympic Games in Dakar represents a major milestone in showcasing the immense talent and potential of our young athletes on a global platform,&#8221; Shuaib tells FORBES AFRICA.</p>



<p>Shuaib opines that &#8220;the games will contribute to the development of sports infrastructure and opportunities across the region&#8221;.</p>



<p>He adds that the event has the potential to promote youth empowerment and catalyze socio-economic growth. &#8220;This is a golden opportunity for Africa to shine and demonstrate its capabilities on the world stage.&#8221;</p>



<p>&#8220;The Games symbolize Africa&#8217;s rising prominence in the global sports arena and signify a new chapter in our continent&#8217;s sporting journey,&#8221; says Shuaib.</p>



<p>For Nigerian analyst Kolawole Oyebola, Dakar 2026 presents an opportunity to boost tourism and stimulate economic growth.</p>



<p>Oyebola tells FORBES AFRICA: &#8220;This is another opportunity for Africa to show its ability to host large-scale international events. It will enhance Senegal&#8217;s global standing and the rest of the continent.&#8221;</p>



<p>The economic benefits, according to Oyebola, are multifaceted, as he points out, &#8220;The influx of visitors, athletes, and officials will create an increase in demand for accommodation, dining, transportation, and various services, providing a significant boost to local businesses and industries.&#8221;</p>



<p>He adds, &#8220;The exposure generated by the event will attract future investments and promote long-term sustainable development across the continent.&#8221;</p>



<p>However, Oyebola also highlights the importance of strategic planning and infrastructure development to maximize the economic impact. He cautions, &#8220;While the Youth Olympic Games present immense opportunities, adequate infrastructure and logistical support are crucial to ensure smooth operations and capitalize on the event&#8217;s potential.&#8221;</p>


Participants engaging in an activity as part of Dakar en Jeux; photo courtesy IOC, Margot Mendes

‘Monumental Moment For African Sports’: On Dakar Debut Of The Youth Olympic Games In 2026


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Hundreds of content creators signed an open letter asking Meta to scrap a decision to curb the reach of “political content” on Instagram and Threads, amid concern the change could limit marginalized creators’ reach across the platforms.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>The&nbsp;<a href="https://accountabletech.org/wp-content/uploads/Open-Letter-to-Instagram.pdf" rel="noreferrer noopener" target="_blank">letter</a>, first reported on by the&nbsp;<a href="https://www.washingtonpost.com/technology/2024/04/10/politics-instagram-threads-limits/" rel="noreferrer noopener" target="_blank">Washington Post</a>, was organized by the groups Accountable Tech—a nonprofit that advocates for better regulation of Big Tech companies—and the LGBTQ+ advocacy group GLAAD, and includes the handles of more than 200 accounts, including popular accounts like the&nbsp;<a href="https://www.instagram.com/feminist/" rel="noreferrer noopener" target="_blank">@feminist</a>&nbsp;account, with which has 6 million followers on Instagram.</p>



<p>The signatories argue the&nbsp;<a href="https://about.instagram.com/blog/announcements/continuing-our-approach-to-political-content-on-instagram-and-threads/" rel="noreferrer noopener" target="_blank">policy</a>, announced in February, is “undermining the reach of our content online,” and is hurting efforts to “foster more inclusive and participatory democracy and society during a critical inflection point for our country.”</p>



<p>Forbes has contacted Meta for comment and did not immediately hear back—but Meta spokesperson Andy Stone told the Washington Post the change “expands on years of work on how we approach and treat political content based on what people have told us they wanted,” and Meta officials have previously<a href="https://deadline.com/2023/07/instagram-boss-politics-hard-news-not-pushed-threads-not-worth-scrutiny-negativity-integrity-risks-1235432486/" rel="noreferrer noopener" target="_blank">&nbsp;suggested</a>&nbsp;they believe Instagram and Threads should focus their content on other topics aside from politics or hard news.</p>



<p>With Meta’s definition of “political content” including “social topics,” creators are concerned the new policy could “limit the reach of individuals and organizations whose identities and/or advocacy have been rendered a ‘social topic’ in this country,” the letter states, singling out advocacy efforts on climate change, gun violence prevention and transgender rights.</p>



<p>The creators are calling for Meta to change the policy so that users could “opt-in” to limiting so-called political content, rather than by opting them out by default.</p>



<p>The decision comes as&nbsp;<a href="https://www.instagram.com/familyequality/p/C5ixsJeLnSk/" rel="noreferrer noopener" target="_blank">several</a>&nbsp;affected&nbsp;<a href="https://www.instagram.com/innercitystruggle/p/C486cuxv-jo/?img_index=1" rel="noreferrer noopener" target="_blank">accounts</a>&nbsp;have been raising concern that the policy could affect the reach of news about LGBTQ+ issues, and have been providing instructions for followers to turn off the new settings.</p>



<h2 class="wp-block-heading" id="h-how-has-the-policy-changed">HOW HAS THE POLICY CHANGED?</h2>



<p>In a February&nbsp;<a href="https://about.instagram.com/blog/announcements/continuing-our-approach-to-political-content-on-instagram-and-threads/" rel="noreferrer noopener" target="_blank">blog post</a>, Instagram said it will no longer “proactively recommend content about politics” from accounts users don’t follow across Instagram or Threads. Users who still want recommended posts on political content will be able to access an option to turn off limits in their content preferences. The policy applies to public accounts, and doesn’t change how users will see content from accounts they actively follow. Professional accounts can see whether their content is eligible to be recommended, and can request reviews if they disagree.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The open letter comes as content creators in recent weeks have been voicing concern about Meta’s new approach and also about how LGBTQ+ issues are treated across the tech giant’s platforms. Last month,&nbsp;<a href="https://glaad.org/smsi/report-meta-fails-to-moderate-extreme-anti-trans-hate-across-facebook-instagram-and-threads/" rel="noreferrer noopener" target="_blank">GLAAD</a>&nbsp;released a report detailing how anti-transgender posts proliferated across the platforms despite policies aimed at preventing them, as LGBTQ+ creators have said that their own content is being limited by the policy, according to the Washington Post. Some creators have raised concern about how “political content” is defined, with Instagram influencer&nbsp;<a href="https://www.instagram.com/katiegrossbard/?hl=en" rel="noreferrer noopener" target="_blank">Katie Grossbard</a>&nbsp;telling&nbsp;<a href="https://www.nbcnews.com/tech/creators-reaction-meta-instagram-limiting-political-content-rcna144969" rel="noreferrer noopener" target="_blank">NBC News</a>&nbsp;last month: “This decision directly harms communities whose entire existence is political.”</p>



<p>PROMOTED</p>



<h2 class="wp-block-heading" id="h-contra">CONTRA</h2>



<p><a href="https://deadline.com/2023/07/instagram-boss-politics-hard-news-not-pushed-threads-not-worth-scrutiny-negativity-integrity-risks-1235432486/" rel="noreferrer noopener" target="_blank">Adam Mosseri,</a>&nbsp;Instagram’s head, has suggested he doesn’t see Instagram or Threads as being a central place for politics, writing on Threads that while “politics and hard news are important,” using them as a revenue source “is not at all worth the scrutiny, negativity (let’s be honest) or integrity risks that come along with them.”</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>16%. As the open letter points out, that’s the percentage of adults who say they regularly get news on Instagram, per a&nbsp;<a href="https://www.pewresearch.org/journalism/fact-sheet/social-media-and-news-fact-sheet/" rel="noreferrer noopener" target="_blank">Pew Research Poll</a>.</p>


INDIA-US-INTERNET-FACEBOOK

Creators Say Meta Shouldn’t Curb ‘Political Content’ In Policy Change Backlash


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Israeli Prime Minister Benjamin Netanyahu on Monday said Israel will be moving forward with a planned attack on the city of Rafah in the Gaza Strip despite pleas from the United States and other countries concerned for the 1 million civilians sheltering there.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Netanyahu&nbsp;<a href="https://twitter.com/netanyahu/status/1777380259131789536" rel="noreferrer noopener" target="_blank">on Monday said</a>&nbsp;a victory against the militant group Hamas, which attacked Israel in October, &#8220;requires entry into Rafah and the elimination of the terrorist battalions there. It will happen &#8211; there is a date.”</p>



<p>The prime minister has&nbsp;<a href="https://www.forbes.com/sites/maryroeloffs/2024/02/09/israeli-prime-minister-orders-plan-to-evacuate-13-million-people-in-rafah/?sh=69e1c8e22e08">for months insisted</a>&nbsp;attacks in Rafah, a city in the southern Gaza strip, are necessary to eliminate Hamas and win the six-month war, but Western allies have warned against attacking the city that holds more than 1 million civilian refugees who have been driven from their homes.</p>



<p>Netanyahu’s announcement follows backlash from his far-right supporters after <a href="https://www.forbes.com/sites/zacharyfolk/2024/04/07/rafah-invasion-on-pause-israel-withdraws-most-troops-from-southern-gaza-heres-what-that-could-mean/?sh=5046a14124b2">Israel withdrew</a> most of its troops from southern Gaza on Sunday, a decision met with scrutiny and a threat from security minister Itamar Ben-Gvir <a href="https://www.ft.com/content/5b4fed42-cbb6-472d-8e3a-6249c6d9c6cb" target="_blank" rel="noreferrer noopener">warning</a> that if he didn’t launch a &#8220;large-scale offensive&#8221; in Rafah, Netanyahu &#8220;will not have a mandate to continue&#8221; as prime minister.</p>



<p>The United States has put increasing pressure on Netanyahu to not authorize a major military strike in Rafah—President Joe Biden weeks ago said to do so would be a “<a href="https://www.aljazeera.com/news/2024/3/18/biden-warns-netanyahu-against-mistake-of-invading-rafah-white-house" rel="noreferrer noopener" target="_blank">mistake</a>” and&nbsp;<a href="https://www.pbs.org/newshour/show/biden-warns-israel-to-protect-civilians-aid-workers-in-gaza-or-risk-losing-u-s-support#:~:text=Today%2C%20for%20the%20first%20time,the%20civilian%20suffering%20in%20Gaza." rel="noreferrer noopener" target="_blank">Thursday said</a>&nbsp;continued U.S. support for the war in Gaza would depend on how well Israel worked to protect civilians and aid workers.</p>



<p>Biden told Netanyahu that he needed to take “measurable” steps to ease &#8220;civilian harm, humanitarian suffering and the safety of aid workers” or risk losing the support of the United States, Israel&#8217;s closest ally.</p>



<p>About two-thirds of the entire population of the Gaza Strip (some 1.5 million people) was sheltering in Gaza as of two weeks ago with no safe way to evacuate, Deepmala Mahl of the humanitarian organization CARE International&nbsp;<a href="https://abcnews.go.com/International/israeli-invasion-rafah-palestinian-civilians/story?id=108395828#:~:text=With%20about%20two-thirds%20of,evacuate%20them%2C%22%20she%20said." rel="noreferrer noopener" target="_blank">told ABC News</a>&nbsp;while warning of a &#8220;terrible loss of life&#8221; if Israel&#8217;s military invades.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Netanyahu&#8217;s announcement comes one day after the six-month anniversary of an attack on Israel by Hamas that saw the group kill about 1,200 Israelis and take 253 hostages on Oct. 7. Twenty days later, Israel responded by carrying out attacks in Gaza that the territory’s&nbsp;<a href="https://www.barrons.com/news/health-ministry-in-hamas-run-gaza-says-war-death-toll-at-33-207-1c950825" rel="noreferrer noopener" target="_blank">health ministry says</a>&nbsp;have killed more than 33,000 people. In that time, more than 2.3 million residents of Gaza have been displaced, more than half of whom&nbsp;<a href="https://apnews.com/article/israel-hamas-war-news-02-09-2024-d3229eec6a85c071248d3ddc2de2a73e" rel="noreferrer noopener" target="_blank">sought shelter</a>&nbsp;in Rafah. Military operations in Rafah have been increasingly criticized by foreign governments and international organizations. The&nbsp;<a href="https://www.nrc.no/news/2024/february/gaza-israels-military-operation-in-rafah-would-be-fatal-for-displaced-civilians-and-humanitarian-aid/#:~:text=Any%20further%20deterioration%20in%20humanitarian,showers%2C%20or%20personal%20hygiene%20items." rel="noreferrer noopener" target="_blank">Norwegian Refugee Council</a>&nbsp;said an attack would &#8220;turn Rafah into a zone of bloodshed and destruction&#8221; and&nbsp;<a href="https://reliefweb.int/report/occupied-palestinian-territory/care-statement-grave-humanitarian-consequences-military-operation-rafah" rel="noreferrer noopener" target="_blank">CARE International&nbsp;</a>warned against &#8220;devastating consequences for civilians.&#8221; In addition to Biden&#8217;s concerns on behalf of the United States, more than two dozen countries in the&nbsp;<a href="https://abcnews.go.com/International/israeli-invasion-rafah-palestinian-civilians/story?id=108395828#:~:text=With%20about%20two-thirds%20of,evacuate%20them%2C%22%20she%20said." rel="noreferrer noopener" target="_blank">European Union</a>&nbsp;(all but Hungry) last month warned against what they called a &#8220;catastrophic&#8221; offensive plan in Rafah.</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>Continued negotiations in Cairo. Israel’s foreign minister Israel Katz on Monday told Israel’s Army Radio that the country has reached a &#8220;critical point&#8221; in its negotiations with Hamas over the safe return of 133 hostages still held in Gaza by the militant group. “I am more optimistic than I was,&#8221;&nbsp;<a href="https://www.ft.com/content/5b4fed42-cbb6-472d-8e3a-6249c6d9c6cb" rel="noreferrer noopener" target="_blank">he reportedly said</a>, &#8220;but we can’t promise things when dealing with Hamas.” Netanyahu&#8217;s&nbsp;<a href="https://twitter.com/netanyahu/status/1777380259131789536" rel="noreferrer noopener" target="_blank">statement</a>&nbsp;Monday also referenced the talks in Cairo, saying &#8220;we are working all the time to achieve our goals, primarily the release of all our hostages and achieving a complete victory over Hamas.&#8221;</p>


Destruction in Khan Yunis after Israel’s withdrawal

Israel Moving Ahead With Plan To Attack Rafah: ’There Is A Date,’ Netanyahu Says


<p>In a move aimed at addressing decades of economic turmoil, Zimbabwe recently launched its new gold-backed currency, Zimbabwe Gold, ZiG, with hopes of bringing stability to its volatile financial landscape. However, experts warn that the road ahead for ZiG is fraught with challenges, with doubts lingering over its ability to enact meaningful change without systemic and governmental shifts to match.</p>



<p>Renowned South African economic analyst Daniel Silke cautions against placing too much faith in the currency&#8217;s ability to single-handedly solve Zimbabwe&#8217;s economic woes. Silke suggests that while a new currency may offer a temporary reprieve, lasting stability requires comprehensive economic and political reforms. He emphasizes to FORBES AFRICA, &#8220;A new currency is like putting a plaster over a wound, rather than treating its cause.&#8221; Silke&#8217;s analogy underscores the deeper structural issues facing Zimbabwe&#8217;s economy, highlighting the need for systemic change beyond mere currency reform.</p>



<p>Marisa Lourenço, an independent political and risk analyst, echoes Silke&#8217;s sentiments, expressing skepticism about ZiG&#8217;s potential impact on inflationary pressures. Lourenço points out that Zimbabwe&#8217;s history of currency failures highlights the need for more than just a change in currency. She emphasizes the importance of building reserves, committing to long-term monetary policies, and tackling corruption to address root causes of economic instability. &#8220;Printing money actually drives up inflation, which we have seen happen before in Zimbabwe,” she asserts in an interview with FORBES AFRICA, underscoring the complex interplay between monetary policy and inflation dynamics, suggesting that ZiG may not provide the desired solution to Zimbabwe&#8217;s economic challenges.</p>



<p>The introduction of ZiG comes amidst a backdrop of skepticism surrounding the Zimbabwean government&#8217;s ability to manage monetary policy effectively. Lourenço suggests that a stable monetary policy is crucial for maintaining ZiG&#8217;s credibility in the long term. She advocates for a liberalized currency regime, allowing the market to determine the currency&#8217;s value without undue interference from the central bank. &#8220;A stable monetary policy that enables a liberalized currency regime is essential,&#8221; Lourenço states, emphasizing the importance of market-driven mechanisms.</p>



<p>One of the key challenges facing ZiG is its coexistence alongside other currencies, particularly the United States (U.S.) dollar, which remains widely used in transactions. Silke highlights the dominance of the U.S. dollar and the difficulty of displacing it, especially in a country like Zimbabwe with an entrenched parallel market. Lourenço adds that Zimbabwe&#8217;s currency instability makes it challenging: &#8220;Given Zimbabwe’s track record in being unable to sustain its own currency on at least two occasions, the uptake of the ZiG is going to be difficult to enforce.&#8221;</p>



<p>Concerns have also been raised about the adequacy of gold reserves to back the new currency. Lourenço suggests that Zimbabwe&#8217;s government needs external assistance to address its massive debt arrears. However, she notes that political and economic reforms, including respecting democratic freedoms and implementing stable monetary policies, are essential for restoring confidence in ZiG&#8217;s stability. &#8220;Zimbabwe desperately needs external assistance to help clear its massive debt arrears,&#8221; Lourenço asserts, highlighting the urgency of international support. However, she cautions that without fundamental reforms, Zimbabwe may struggle to overcome its economic challenges and restore confidence in ZiG.</p>



<p>Despite these challenges, Silke remains cautiously optimistic about Zimbabwe&#8217;s future. He suggests that while the road ahead may be difficult, there is potential for positive change if the government commits to meaningful reforms. &#8220;Zimbabwe has the opportunity to turn things around,&#8221; Silke states, &#8220;but it will require bold leadership and decisive action.&#8221; Lourenço echoes this sentiment, emphasizing the need for political will and international cooperation to support Zimbabwe&#8217;s recovery efforts.</p>


Zimbabwe Replaces Battered Dollar With New Unit Called ZiG

Can Zimbabwe’s New Gold-Backed Currency Solve Its Economic Woes? Experts Weigh In


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>A total of 322 trucks carrying humanitarian aid entered Gaza on Sunday—the most in a single day since the war began—the Israeli Ministry of Defense confirmed on Sunday, as Israel faces increased scrutiny over its treatment of aid workers that has resulted in over 200 deaths so far.</p>



<h2 class="wp-block-heading">KEY FACTS</h2>



<p>A total of 228 of the trucks that crossed into Gaza on Sunday were carrying food, said the Coordinator of Government Activities in the Territories in a&nbsp;<a href="https://twitter.com/cogatonline/status/1777030931280167407?s=46&amp;t=XMT4bHReB9TWcV5q_r0pFw" rel="noreferrer noopener" target="_blank">statement</a>&nbsp;on social media, the Israeli Ministry of Defense’s department that handles humanitarian aid shipments.</p>



<p>The rapid increase in aid deliveries follows increased scrutiny on the process after&nbsp;<a href="https://www.forbes.com/sites/caileygleeson/2024/04/02/netanyahu-says-israel-deeply-regrets-strike-that-killed-7-aid-workers-what-we-know-about-victims/?sh=3d7d6d9275fb">seven aid workers</a>&nbsp;with World Conflict Kitchen were killed in Israeli air strikes on Monday.</p>



<p>One of the seven international aid workers was an American citizen, prompting the White House to call for “specific, concrete, and measurable steps to address civilian harm, humanitarian suffering, and the safety of aid workers.”</p>



<p>Following a tense conversation with President Biden on Thursday, Israel reopened the Erez Crossing, the large border entry between northern Gaza and Israel, and announced it would allow aid shipments to flow through the port of Ashdod.</p>



<h2 class="wp-block-heading">KEY BACKGROUND</h2>



<p>The increased pressure to protect international aid workers comes after the Israeli government apologized for the deaths of the seven World Conflict Kitchen workers on Monday. After an&nbsp;<a href="https://www.forbes.com/sites/roberthart/2024/04/05/idf-fires-senior-officers-after-deadly-strike-on-aid-workers-as-it-blames-mistaken-identification/?sh=7cb8b7f7ae7f">IDF investigation</a>, the Israeli military called the attack a “grave mistake stemming from a serious failure due to a mistaken identification,” and dismissed two senior officers over the strike. Prime Minister Benjamin Netanyahu also&nbsp;<a href="https://twitter.com/netanyahu/status/1775214347519660112" rel="noreferrer noopener" target="_blank">apologized</a>, adding that “we will do everything in our power to ensure that such tragedies do not occur in the future.” José Andrés, the celebrity chef and founder of World Conflict Kitchen, told&nbsp;<a href="https://abcnews.go.com/Politics/week-transcript-4-7-24-chef-jos-andrs/story?id=108949216" rel="noreferrer noopener" target="_blank">ABC News’s</a>&nbsp;Martha Raddatz the attack was “unforgivable” and called for Israel to face “a real reckoning on how they conduct war.” Andres thanked Israeli military for releasing the results of the investigation so quickly, but also called for an independent investigation into the attack. “The perpetrator cannot be investigating himself,” Andrés said.</p>



<h2 class="wp-block-heading">BIG NUMBER</h2>



<p>More than 220. That’s how many international aid workers have been killed in Gaza since the war began on Oct. 7, according to the most recent&nbsp;<a href="https://news.un.org/en/story/2024/04/1148276" rel="noreferrer noopener" target="_blank">U.N. estimates</a>. Speaking on Friday, U.N. Secretary-General Antonio Guterres called for an independent investigation into the other deaths. “We want to know why each one of them was killed,”&nbsp;<a href="https://www.theguardian.com/world/video/2024/apr/05/we-want-to-know-why-un-chief-questions-israel-on-196-aid-workers-killed-in-gaza-video" rel="noreferrer noopener" target="_blank">Guterres demanded</a>&nbsp;after a meeting of the U.N. Security Council.</p>



<h2 class="wp-block-heading">TANGENT</h2>



<p>Although a record number of aid trucks entered Gaza on Sunday, aid shipments have faced other issues making it into the besieged territory during the war. In February, a group of&nbsp;<a href="https://www.washingtonpost.com/world/2024/02/10/gaza-aid-blockade-protest-kerem-shalom/" rel="noreferrer noopener" target="_blank">far-right Israeli activists</a>&nbsp;camped out in front of aid convoys attempting to enter Gaza through the Kerem Shalom Crossing. Aid shipments have also been threatened by members of Netanyahu’s government. Finance Minister Bezalel Smotrich, a far-right member of Netanyahu’s coalition,&nbsp;<a href="https://www.axios.com/2024/02/13/israel-gaza-flour-shipment" rel="noreferrer noopener" target="_blank">intervened to block</a>&nbsp;a shipment of flour bound for Gaza from the U.S.</p>


Humanitarian aid trucks at Rafah Border Crossing

Largest Aid Convoy Enters Gaza Since War Began Amid Mounting Pressure On Israel


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Global life expectancy rose by 6.2 years between 1990 and 2021, driven by reductions in deaths from diarrhea, lower respiratory infections, stroke and ischemic heart disease—but the world faced significant setbacks due to the Covid-19 pandemic, according to a&nbsp;<a href="https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(24)00367-2/fulltext" rel="noreferrer noopener" target="_blank">new study</a>&nbsp;by the Lancet.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>The leading causes of death worldwide remained consistent from 1990 to 2019—with ischemic heart disease, stroke, chronic obstructive pulmonary disease and lower respiratory infections topping the list—with global life expectancy improving in that time period thanks in part to annual reductions in deaths from all causes ranging from .9% to 2.4%.</p>



<p>The Covid-19 pandemic hampered progress, with pandemic-related mortality causing a net reduction in life expectancy of 1.6 years between 2019 and 2021 and Covid-19 becoming the second-leading cause of death—the first major shakeup of the rankings in decades.</p>



<p>Changes in life expectancy varied significantly by region, the study found—the so-called super-region consisting of Southeast Asia, East Asia and Oceania saw the greatest net gain in life expectancy from 1990 and 2021, rising by 8.3 years due to big drops in mortality from chronic respiratory diseases, stroke, lower respiratory infections and cancer, with “strong management” of the pandemic curbing life expectancy losses due to Covid-19 to just .4 years between 2019 and 2021.</p>



<p>Reductions in deaths from enteric diseases—which include diarrhea and typhoid—significantly contributed to improvements in life expectancy, estimated to contribute an overall increase of 1.1 years globally.</p>



<p>Control of mortality due to diarrheal disease contributed to significant gains in life expectancy in the super region of South Asia, which had the second-highest increase among super regions in life expectancy with 7.8 years, and in Eastern sub-Saharan Africa, which had the highest increase in life expectancy of any local region with 10.7 years.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>“On one hand, we see countries’ monumental achievements in preventing deaths from diarrhea and stroke,” said Dr. Liane Ong of the Institute for Health Metrics and Evaluations, one of the authors of the study, in a statement. “At the same time, we see how much the Covid-19 pandemic has set us back.”</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>31.5%. That’s how much the age-standardized mortality rate for ischemic heart disease, the leading cause of death worldwide, dropped between 1990 and 2021. The rate in 2021 was 108.7, with Covid-19 the second-leading cause of death at 94.0.</p>



<h2 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h2>



<p>The largest decline in life expectancy due to Covid-19 was in Latin America and the Caribbean, where it caused a 3.6-year reduction.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The study is the first of its kind to compare deaths from Covid-19 to other leading causes of death, according to the authors. It notes Covid-19 may have had indirect effects on mortality rates as well, with physical distancing measures affecting mortality for other diseases, and deferred care-seeking leading to pandemic-related deaths not attributable directly to Covid-19. Another <a href="https://www.forbes.com/sites/maryroeloffs/2024/03/12/covid-lowered-global-life-expectancy-more-than-previously-thought-new-study-suggests/?sh=17845fa6576b">study</a> published by the Lancet earlier this month previously found the global life expectancy dropped by 1.6 years due to the pandemic, with the United States seeing the highest excess mortality rate when compared to similar high-wealth nations.<a href="https://www.forbes.com/sites/jamesfarrell/"></a></p>


Researcher working in a biochemist laboratory

Global Life Expectancy Increased Between 1990 And 2021, But Pandemic Stalled Progress


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Microsoft will split up its workplace messaging and video calls app Teams from its Office platform globally, the company told&nbsp;<a href="https://www.reuters.com/technology/microsoft-separate-teams-office-globally-amid-antitrust-scrutiny-2024-04-01/" rel="noreferrer noopener" target="_blank">Reuters</a>&nbsp;early on Monday, mirroring a move it undertook in the European Union last year as it attempts to avoid being penalized by the bloc’s antitrust regulators.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>In August last year, Microsoft announced it would unbundle Teams from its Microsoft 365 subscription—which includes its Office suite of productivity software like Word, Excel and PowerPoint—in the EU and offer the messaging service as a standalone subscription.</p>



<p>The tech giant&nbsp;<a href="https://www.reuters.com/technology/microsoft-separate-teams-office-globally-amid-antitrust-scrutiny-2024-04-01/" rel="noreferrer noopener" target="_blank">told</a>&nbsp;Reuters Monday it will enact the change for all its customers worldwide “to ensure clarity,” and businesses can now choose slightly cheaper Microsoft 365 plans without Teams.</p>



<p>The company said its decision was based on feedback from the European Commission to help global companies “standardize their purchasing across geographies.”</p>



<p>Forbes has reached out to Microsoft for a comment.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The European Commission, the EU’s executive arm,&nbsp;<a href="https://ec.europa.eu/commission/presscorner/detail/en/ip_23_3991" rel="noreferrer noopener" target="_blank">opened</a>&nbsp;an antitrust investigation into Microsoft in July last year. The commission said the investigation intended to assess whether the company “breached EU competition rules by tying or bundling its communication and collaboration product Teams to its popular suites for businesses Office 365 and Microsoft 365.” The executive body expressed concerns about Microsoft “abusing” the market dominance of its Office productivity software to restrict competition for “communication and collaboration products.” The investigation followed a complaint filed against Microsoft and Teams by its rival messaging platform Slack. Microsoft&nbsp;<a href="https://blogs.microsoft.com/eupolicy/2023/08/31/european-competition-teams-office-microsoft-365/#:~:text=First%2C%20beginning%20October%201%2C%202023,or%20%E2%82%AC24%20per%20year)." rel="noreferrer noopener" target="_blank">responded</a>&nbsp;by unbundling Teams from its office productivity suite for EU customers in August. At the time, the company said it was taking “meaningful steps” to address the commission’s concerns and had gained clarity “from extensive and constructive discussions” with the executive body.</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>It is unclear if Microsoft’s latest actions are enough to fend off an antitrust fine from the EU. The commission had particularly expressed concern that Microsoft was giving Teams a “distribution advantage” over rivals by “not giving customers the choice” on whether they want to include Teams in their Office subscription. The unbundling will likely assuage that issue, but the commission had also raised a red flag about Microsoft possibly limiting “interoperability between its productivity suites” and rival messaging apps. If the investigators are unsatisfied with the remedies and find Microsoft guilty of antitrust breaches, the company could face fines as high as 10% of its global annual turnover.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>$2.37 billion (€2.2 billion). That is the quantum of antitrust fines Microsoft has faced in the European Union in the past decade, the Reuters report added.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.reuters.com/technology/microsoft-separate-teams-office-globally-amid-antitrust-scrutiny-2024-04-01/" target="_blank" rel="noreferrer noopener">Microsoft to separate Teams and Office globally amid antitrust scrutiny</a> (Reuters)</p>


Microsoft Services Down For Tens Of Thousands Around World

Microsoft Unbundles Teams From Office Suite In A Bid To Address Antitrust Probe


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Altimmune’s experimental weight loss drug pemvidutide minimized the loss of muscle mass while losing weight, mimicking the effects of diet and exercise, according to the results of a small trial by the company, amid efforts by biotech firms to study how increasingly popular weight-loss drugs can maintain muscle mass.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>In a mid-stage trial of pemvidutide, 74.5% of weight loss among 391 participants came from fat tissue while only 25.5% came from lean mass, results that are comparable to the effects “historically associated with diet and exercise,” Altimmune&nbsp;<a href="https://ir.altimmune.com/news-releases/news-release-details/altimmune-announces-positive-lean-mass-preservation-data" rel="noreferrer noopener" target="_blank">announced</a>&nbsp;Wednesday.</p>



<p>The drug pemvidutide combines the GLP-1 hormone—a key ingredient in Ozempic and Wegovy—with the hormone glucagon, a pairing the company is also testing to treat a common form of liver disease called metabolic dysfunction-associated steatohepatitis, or MASH.</p>



<p>Over 30% of participants using a 2.4-milligram dose of pemvidutide achieved a 20% weight loss through a 48-week trial of the drug, Altimmune&nbsp;<a href="https://ir.altimmune.com/news-releases/news-release-details/altimmune-announces-positive-topline-results-momentum-48-week" rel="noreferrer noopener" target="_blank">announced</a>&nbsp;in November.</p>



<p>The Food and Drug Administration announced last year it would fast-track its evaluation of pemvidutide for treating nonalcoholic steatohepatitis, or NASH, a severe form of nonalcoholic fatty liver disease, after more than half of the 190 participants in a&nbsp;<a href="https://altimmune.com/pemvidutide/" rel="noreferrer noopener" target="_blank">trial</a>&nbsp;had their liver fat content reduced to a normal level after 12 weeks.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Other popular weight-loss drugs have been studied for their ability to maintain muscle mass while helping patients lose weight. During a 68-week&nbsp;<a href="https://www.nejm.org/doi/suppl/10.1056/NEJMoa2032183/suppl_file/nejmoa2032183_appendix.pdf" rel="noreferrer noopener" target="_blank">trial</a>&nbsp;of semaglutide, the active ingredient in Ozempic and Wegovy, over 1,300 participants using the drug lost an average of nearly 15 pounds of lean muscle and 23 pounds of fat. BioAge Labs&nbsp;<a href="https://www.businesswire.com/news/home/20231026896677/en/BioAge-Labs-Announces-Plans-for-Phase-2-Trial-of-First-in-Class-Apelin-Receptor-Agonist-BGE-105Azelaprag-Co-Administered-With-Tirzepatide-for-Treatment-of-Obesity-in-Collaboration-With-Lilly%E2%80%99s-Chorus-Organization" rel="noreferrer noopener" target="_blank">announced</a>&nbsp;last year it would be testing its muscle loss drug azelaprag with Mounjaro to treat obesity, after an early trial indicated azelaprag could help prevent muscle atrophy.</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>Additional data from Altimmune’s mid-stage trial will be presented at an unspecified upcoming event, the company said. Results from a study involving pemvidutide’s treatment of MASH are expected in the first quarter of 2025.</p>


Hand of an elderly woman pouring a small assortment of pills onto the palm of her hand

What To Know About Pemvidutide—Altimmune Says Weight Loss Drug Minimized Muscle Mass Loss In Trial


<p><strong>Story curated by Chanel Retief and Nicole Pillay Art Direction: Lucy Nkosi Photography: Katlego Mokubyane ; Assistant: Sbusiso Sigidi Styling: Deneal Van Wyk; Outfits supplied by Fashimo Styles Studio, Ukara, Suited For Her and Preview Accessories Hair &amp; Makeup:Vanessa Unamaca, MakoleMade Location: NewKatz.Studio, Johannesburg</strong></p>



<p>If you ever find yourself with an internationally-acclaimed chef, just know that he or she will joke that they would like for you to first taste their food before adding salt. And then want you to know that this craft is an art and science come to life. </p>



<p>As a food and nutrition scientist, chef Siba Mtongana is no different. She gained global recognition when her show Siba’s Table first aired on Food Network, capturing the essence of South African cuisine. Reportedly, more than 150 countries and 60 million homes in the US tune into Cooking Channel alone to watch her whip up her culinary specialties, proving how hungry the world is for African cuisine.</p>



<p><strong>Q. How did your journey in the culinary world begin, and what inspired you?</strong></p>



<p><strong>A</strong>. My journey started when I was a very young girl in my mother&#8217;s kitchen, where I was so mesmerized by how my mother could turn simple ingredients into the most amazing dishes. She had a garden that my dad tended for her. My life was an interaction from the garden to the kitchen, which was really beautiful. I decided, against my parents’ wishes, to become a chef. At the time, there weren&#8217;t many people who were successful; I&#8217;m going to say specifically African black people who were successful in the food industry, especially as chefs. Therefore, my parents were very skeptical… but I do believe that I&#8217;ve created a template – because [of] my cooking show on Food Network, where I can say specifically to Africans, this is actually a career path you can take. I think my contribution to the food industry and culinary world was that I made it more relatable and easy for people to follow in my footsteps.</p>



<p><strong>Q. Can you talk to us about a big career milestone?</strong></p>



<p><strong>A.</strong> I have been blessed with many career milestones but one comes to mind… I opened my first restaurant during Covid-19. SIBA–The Restaurant is a fine dining restaurant in Cape Town (at the Victoria &amp; Alfred Waterfront) and is doing incredibly well. Last year alone, we won about 10 awards, locally and internationally. I often think to myself, should I not have done it at that time, would I have had the trajectory that I am on now? Maybe not, because the story might not have been as strong but you really have to have that inner gut feel and follow it.</p>


Most Attractive Youtube Thumbnail (7)

Over 30 Under 50: ‘I’ve created a template for young people’/ Siba Mtongana


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>A Binance executive detained in Nigeria last month escaped from custody over the weekend, as the West African country filed charges of tax evasion against the cryptocurrency exchange and some of its executives in the latest public scandal for the firm.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Binance executives Tigran Gambaryan, a U.S. citizen, and Nadeem Anjarwalla, British-Kenyan citizen, were both taken into custody in Nigeria in February but not charged with any crimes until Monday.</p>



<p>The executives and the crypto company were charged with alleged non-payment of value-added tax (VAT) and company income tax, failure to file tax returns, and complicity in assisting customers to evade taxes through its platform, Nigeria’s Federal Inland Revenue Service announced Monday, according to&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-03-25/nigeria-announces-charges-against-binance-after-executive-flees" rel="noreferrer noopener" target="_blank">multiple</a>&nbsp;<a href="https://www.cnbc.com/2024/03/25/binance-executive-escapes-nigerian-custody-as-authorities-file-new-tax-charges.html" rel="noreferrer noopener" target="_blank">outlets</a>.</p>



<p>The charges come days after Anjarwalla reportedly escaped from where he was being detained after guards watching him took him to a nearby mosque for prayers, The Premium Times, a Nigerian news outlet,&nbsp;<a href="https://www.premiumtimesng.com/news/top-news/680617-nigerian-govt-confirms-escape-of-binance-executive-arrests-personnel-guarding-him.html" rel="noreferrer noopener" target="_blank">reported</a>.</p>



<p>Nigeria is in talks with Interpol to get an international arrest warrant for Anjarwalla, Nigeria’s national security adviser&nbsp;<a href="https://www.reuters.com/technology/nigeria-files-tax-evasion-charges-against-binance-tax-agency-says-2024-03-25/" rel="noreferrer noopener" target="_blank">told</a>&nbsp;Reuters.</p>



<p>Binance confirmed Anjarwalla was no longer in Nigerian custody.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>“Our primary focus remains on the safety of our employees and we are working collaboratively with Nigerian authorities to quickly resolve this issue,” Binance told Forbes in an email.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Gambaryan and Anjarwalla have been in Nigeria since Feb. 26 when they&nbsp;<a href="https://www.reuters.com/world/africa/binance-executives-remain-detention-after-nigeria-court-appearance-families-say-2024-03-20/" rel="noreferrer noopener" target="_blank">reportedly</a>&nbsp;arrived to discuss the country’s decision to ban some cryptocurrency trading websites, including Binance, Coinbase and Kraken. The office of the National Security Adviser in Nigeria detained the pair and seized their passports,&nbsp;<a href="https://www.ft.com/content/1507509b-7bbc-48a1-9828-d777036fff2b" rel="noreferrer noopener" target="_blank">according to</a>&nbsp;the Financial Times. Both of their families have since&nbsp;<a href="https://www.reuters.com/world/africa/binance-executives-remain-detention-after-nigeria-court-appearance-families-say-2024-03-20/" rel="noreferrer noopener" target="_blank">pleaded</a>&nbsp;with authorities to release the executives. Ahead of their detention, Olayemi Cardoso, Nigeria’s central bank governor,&nbsp;<a href="https://www.ft.com/content/1507509b-7bbc-48a1-9828-d777036fff2b" rel="noreferrer noopener" target="_blank">told</a>&nbsp;reporters in February officials were concerned about “illicit flows” going through a number of crypto platforms, according to the Financial Times. He went on to say that in one year, $26 billion passed through Binance Nigeria “from sources and users who we cannot adequately identify.” Days later, the Binance executives were detained. The concerns about crypto trading come as Nigeria struggled with currency devaluation. In the past year, the value of the Nigerian currency, the naira, has fallen 70%&nbsp;<a href="https://www.marketwatch.com/investing/currency/ngnusd" rel="noreferrer noopener" target="_blank">against</a>&nbsp;the U.S. dollar.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>The tax evasion charges and detentions follow high-profile problems Binance has faced in recent years. In November, Changpeng Zhao, the company’s founder, pleaded guilty to Justice Department charges of breaking anti-money laundering laws and violating sanctions and <a href="https://www.forbes.com/sites/tylerroush/2024/02/23/judge-approves-binances-43-billion-settlement-for-anti-money-laundering-sanctions-violations/?sh=9d34b8d44758">agreed</a> to pay more than $4.3 million in fines and restitutions for doing so. In June, the Securities and Exchange Commision <a href="https://www.forbes.com/sites/anafaguy/2023/06/05/sec-sues-binance-for-multiple-us-rule-violations/?sh=74a7467d7fcb">sued</a> Binance for operating an illegal exchange in the U.S. Months before that, in March, regulators <a href="https://www.cftc.gov/PressRoom/PressReleases/8680-23" target="_blank" rel="noreferrer noopener">alleged</a> that Binance and Zhao evaded Commodity Futures Trading Commission rules. The crypto company <a href="https://www.bloomberg.com/news/articles/2022-06-06/us-probes-binance-over-token-that-is-now-world-s-fifth-largest" target="_blank" rel="noreferrer noopener">reportedly</a> remains under investigation from the SEC over whether the company illegally sold digital coins when it started out in 2017. Binance isn’t alone: other crypto firms, including Beaxy and Kraken, have also been hit with civil lawsuits recently as regulators crack down on the industry.<a href="https://www.forbes.com/sites/anafaguy/"></a></p>


In this photo illustration, the Binance logo is displayed on

Binance Executive Flees Nigerian Prison Amid New Charges


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>The Islamic State group took responsibility for a Friday attack on a Moscow area concert hall that left at least 40 dead and about 100 injured, according to&nbsp;<a href="https://www.nytimes.com/2024/03/22/world/europe/isis-moscow-attack-concert-hall.html" rel="noreferrer noopener" target="_blank">multiple</a>&nbsp;<a href="https://www.cnn.com/2024/03/22/europe/crocus-moscow-shooting/index.html" rel="noreferrer noopener" target="_blank">outlets</a>, a claim confirmed by U.S. officials and Russian media.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>A branch of ISIS based in Afghanistan and known as ISIS-K claimed responsibility for the shooting in a statement made on Telegram and published by ISIS-affiliated news agency Amaq,&nbsp;<a href="https://www.cnn.com/2024/03/22/europe/crocus-moscow-shooting/index.html" rel="noreferrer noopener" target="_blank">CNN</a>&nbsp;reported.</p>



<p>U.S. officials confirmed the ISIS connection to the <a href="https://www.nytimes.com/2024/03/22/world/europe/isis-moscow-attack-concert-hall.html" target="_blank" rel="noreferrer noopener">New York Times</a>, noting U.S. intelligence members collected evidence in March that the ISIS branch was planning an attack on Moscow and that ISIS members have been active in Russia.</p>



<p></p>



<p>Russia’s foreign ministry called the shooting a terrorist attack, according to <a href="https://abcnews.go.com/International/shooting-reported-concert-hall-moscow/story?id=108396308" target="_blank" rel="noreferrer noopener">ABC News</a>, which noted a U.S. official said they see no reason to doubt ISIS’ claim of responsibility.</p>



<p>The shooting reportedly took place around 8 p.m. local time and was conducted by&nbsp;<a href="https://abcnews.go.com/International/shooting-reported-concert-hall-moscow/story?id=108396308" rel="noreferrer noopener" target="_blank">at least five gunmen</a>&nbsp;in camouflage who opened fire on concertgoers in attendance for a show by Russian rock band Picnic.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>The U.S. Embassy in Russia issued a&nbsp;<a href="https://ru.usembassy.gov/security-alert-avoid-large-gatherings-over-the-next-48-hours/" rel="noreferrer noopener" target="_blank">warning</a>&nbsp;two weeks ago urging Americans to avoid large gatherings in Moscow, citing reports of extremist plans to target such gatherings.</p>



<h2 class="wp-block-heading" id="h-suprising-fact">SUPRISING FACT</h2>



<p>The incident is the largest terror attack in Central Russia in terms of victims since the 2011 Domodedovo airport bombing, according to ABC. The bombing killed 37 people and injured 172.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>“ISIS-K has been fixated on Russia for the past two years,” Colin P. Clarke, a counterterrorism analyst at the Soufan Group, told the New York Times, adding the branch group has accused the Kremlin of spilling Muslim blood through its interventions in Afghanistan, Chechnya and Syria. Friday’s attack comes less than a week after Russian President Vladimir Putin appeared to secure reelection after dominating the polls.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/brianbushard/2024/03/22/at-least-40-dead-at-moscow-music-hall-shooting-russian-state-media-says/?sh=736f3f417c78">At Least 40 Dead At Moscow Music Hall Shooting, Russian State Media Says</a>&nbsp;(Forbes)</p>



<p><a href="https://www.nytimes.com/2024/03/22/world/europe/isis-moscow-attack-concert-hall.html" rel="noreferrer noopener" target="_blank">U.S. Says ISIS Was Responsible for Deadly Moscow Concert Hall Attack</a>&nbsp;(New York Times)</p>



<p><a href="https://abcnews.go.com/International/shooting-reported-concert-hall-moscow/story?id=108396308" target="_blank" rel="noreferrer noopener">ISIS claims responsibility in deadly attack on Russia&#8217;s Crocus City Hall</a> (ABC)</p>



<p><a href="https://www.cnn.com/2024/03/22/europe/crocus-moscow-shooting/index.html" target="_blank" rel="noreferrer noopener">ISIS claims responsibility for attack in busy Moscow-area concert venue that left at least 40 dead</a> (CNN)</p>


Iran-Reaction, Shooting At The Crocus City Hall Concert In Moscow

ISIS Claims Responsibility For Moscow Shooting That Left 40 Dead


<p>Kate Middleton is in the early stages of chemotherapy treatment after a cancer diagnosis, the Princess of Wales confirmed in a new video Friday, the first major update provided on the princess’ health since the palace first announced in January she would undergo a surgery and be out of the public eye for months.</p>


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2024/03/GettyImages-2104753638.jpg" alt="" class="wp-image-61494" style="width:730px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2024/03/GettyImages-2104753638.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2024/03/GettyImages-2104753638-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2024/03/GettyImages-2104753638-768x512.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption"> (Photo by Leon Neal/Getty Images)</figcaption></figure></div>


<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>In a two-minute&nbsp;<a href="https://twitter.com/KensingtonRoyal/status/1771235267837321694" rel="noreferrer noopener" target="_blank">video</a>&nbsp;posted to Kensington Palace social media pages, Kate confirmed she underwent an abdominal surgery earlier this year and that while the surgery “was successful,” tests afterwards confirmed “cancer had been present.”</p>



<p>Kate did not elaborate or explain what type of cancer she has been diagnosed with, but did say she is undergoing “a course of preventive chemotherapy.”</p>



<p>Kate said the palace delayed telling the public about her diagnosis so she and William had time to process the news and talk about it with their three children, Prince George, Princess Charlotte and Prince Louis.</p>



<p>She completed the video by asking for “time, space and privacy.”</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>“As I have said to them, I am well and getting stronger everyday by focusing on the things that will help me heal in my mind, body and spirits,” Kate said in the video. “Having William by my side is a great source of reassurance and comfort and reassurance, too.”</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>The royal family in January announced two major pieces of health information regarding senior royals: King Charles would&nbsp;<a href="https://www.forbes.com/sites/anafaguy/2024/01/17/king-charles-will-undergo-prostate-procedure-palace-says/?sh=4801df184c23">undergo a prostate procedure</a>&nbsp;and Kate Middleton would be admitted to the hospital for a &#8220;planned abdominal surgery.” The&nbsp;<a href="https://www.royal.uk/news-and-activity/2024-01-17/a-statement-from-kensington-palace" rel="noreferrer noopener" target="_blank">palace said&nbsp;</a>she would step back from professional engagements for months while she recovered. One week later, it was announced the king&nbsp;<a href="https://www.forbes.com/sites/zacharyfolk/2024/02/05/king-charles-diagnosed-with-cancer-after-hospital-stay/?sh=62a3f0251757">was diagnosed</a>&nbsp;with cancer. Buckingham Palace did not specify what type or stage of cancer the king has. Kate Middleton&nbsp;<a href="https://people.com/kate-middleton-leaves-hospital-after-surgery-continue-recover-home-8431757#:~:text=Kate%20Middleton%20is%20recovering%20from,William%2C%20and%20their%20three%20children." rel="noreferrer noopener" target="_blank">left the hospital</a>&nbsp;on Jan. 29 and returned home to recover, and more than a month went by without any other updates on her health from official sources. As concern for the princess grew, so did unsubstantiated rumors about her health, personal life and marriage to Prince William, who is expected to take the throne upon the death of his father. Several news outlets&nbsp;<a href="https://www.etonline.com/see-kate-middleton-for-the-first-time-since-hospitalization-for-abdominal-surgery-pic-220894" rel="noreferrer noopener" target="_blank">circulated</a>&nbsp;blurry photos of Kate riding in a car driven by her mother on March 4, the first time she had been seen since leaving the hospital. Days later, Kensington Palace released a photo of Kate and her three children to celebrate Mother’s Day in the United Kingdom. That same day,&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2024/03/11/kate-apologizes-for-causing-confusion-after-news-agencies-flag-her-photo-as-manipulated/">news agencies retracted</a>&nbsp;the image and accused the palace of having manipulated the image so heavily it should no longer be used by outlets, with the global news director of Agence France-Presse&nbsp;<a href="https://www.forbes.com/sites/maryroeloffs/2024/03/14/kensington-palace-no-longer-a-trusted-source-after-releasing-edited-kate-middleton-photo-afp-says/?sh=123aafef5238">telling the BBC</a>&nbsp;the palace could no longer be considered a &#8220;trusted source.&#8221; On March 18, tabloids&nbsp;<a href="https://www.tmz.com/2024/03/18/kate-middleton-seen-new-video-windsor-farm-shop-prince-william/" rel="noreferrer noopener" target="_blank">published</a>&nbsp;video footage they claim depicted Kate and William on a trip to the Windsor Farm Shop near their home, though Kensington Palace would not comment on the video and the&nbsp;<a href="https://www.washingtonpost.com/world/2024/03/18/kate-middleton-video-shopping/" rel="noreferrer noopener" target="_blank">Washington Post said</a>&nbsp;it could not confirm the date or time it was taken.</p>



<h2 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h2>



<p>One of the more prevalent rumors about Kate Middleton’s whereabouts circulated on a pending divorce between her and Prince William over an affair the prince was baselessly accused of having with Lady Rose Hanbury, the Marchioness of Cholmondeley. The rumors made their way to the &#8220;Late Show&#8221; earlier this month, where host Stephen Colbert speculated on the rumored affair. Habury&#8217;s lawyers then sent notices to the show to deny the claims of an affair,&nbsp;<a href="https://www.businessinsider.com/prince-william-rose-hanbury-rumor-kate-middleton-explained-2024-3" rel="noreferrer noopener" target="_blank">multiple sources</a>&nbsp;<a href="https://nypost.com/2024/03/22/entertainment/rose-hanbury-sends-legal-notice-to-stephen-colbert-over-prince-william-affair-joke-report/" rel="noreferrer noopener" target="_blank">reported</a>, and said in a&nbsp;<a href="https://www.intouchweekly.com/posts/rose-hanbury-lawyers-sent-notice-to-stephen-colbert/" rel="noreferrer noopener" target="_blank">statement to In Touch</a>&nbsp;they were writing &#8220;on our client’s behalf to CBS and various other reputable media organizations to confirm that the allegation is false.” Representatives for CBS did not respond to Forbes’ request for comment Friday.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>World leaders responded to the princess’ diagnosis Friday afternoon. Rishi Sunak, prime minister of the United Kingdom,&nbsp;<a href="https://twitter.com/RishiSunak/status/1771236237153546649?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1771236237153546649%7Ctwgr%5Ee148c9579c52a04d40dd7f8338ffc25876483276%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fiframe.nbcnews.com%2FmDv38Wp%3F_showcaption%3Dtrueapp%3D1" rel="noreferrer noopener" target="_blank">on Friday said</a>&nbsp;Kate has &#8220;shown tremendous bravery with her statement today. In recent weeks she has been subjected to intense scrutiny and has been unfairly treated by certain sections of the media around the world and on social media&#8230; I know I speak for the country in wishing her a full and speedy recovery.&#8221; Press Secretary Karine Jean-Pierre&nbsp;<a href="https://twitter.com/albamonica/status/1771238958300639517" rel="noreferrer noopener" target="_blank">said</a>&nbsp;the White House wishes her a &#8220;full recovery&#8221; and said the Biden administration is “incredibly sad to hear the news.&#8221;</p>


The Princess Of Wales Opens Evelina London’s New Children’s Day Surgery Unit

Kate Middleton Confirms Cancer Diagnosis In New Video


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>After posting its best day on Wall Street in four months Wednesday, shares of Paramount Global fell Thursday after a report indicated the media conglomerate’s controlling shareholder might not be interested in a reported $11 billion deal for the company’s major film studio.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Shares of Paramount Global dropped as much as 5.9% in intraday trading Thursday to as low as $11.77, nearly erasing its Wednesday gains, when the company’s shares surged to a one-month high of nearly $13.</p>



<p>Thursday’s losses marked Paramount’s worst day on Wall Street in over two weeks, just one day after the conglomerate’s shares posted an 11.8% daily gain on the heels of a&nbsp;<a href="https://www.wsj.com/business/media/apollo-offers-11-billion-for-paramounts-hollywood-studio-24206eab?mod=hp_lead_pos2" rel="noreferrer noopener" target="_blank">Wall Street Journal</a>&nbsp;report indicating Apollo Global Management made an $11 billion offer for Paramount Pictures, valuing the studio even higher than Paramount Global’s $8.2 billion market cap.</p>



<p>By Thursday morning, Paramount’s controlling shareholder Shari Redstone suggested she might not be interested in that offer, opting instead for a rival bid, anonymous sources told the&nbsp;<a href="https://www.ft.com/content/95cf8b56-e822-4fc0-a12e-1e7ae15733fd" rel="noreferrer noopener" target="_blank">Financial Times</a>.</p>



<p>Sources told the Financial Times Redstone has been in negotiations with David Ellison on a separate bid from Ellison’s Skydance Media for a majority stake in Redstone’s holding company National Amusements, through which she controls a majority stake in Paramount.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Paramount has had a series of setbacks in recent months, striking out on a deal with NBCUniversal owner Comcast and failing to land a deal with rival Warner Bros. Discovery that could have turned the burgeoning streaming wars on its head. Paramount had been engaged in merger talks with Warner Bros. Discovery, though the HBO parent company reportedly&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2024/02/27/warner-bros-discovery-pauses-merger-talks-with-paramount-report-says/?sh=2eb01dbb1cf4">paused those negotiations</a>&nbsp;last month. Last August, Paramount&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2023/08/07/paramount-selling-simon--schuster-to-kkr-for-162-billion/?sh=3c4027576662">divested</a>&nbsp;its publishing arm Simon &amp; Schuster to private equity firm KKR in a $1.62 billion deal, culminating a two-year saga in which a previous deal to sell the publishing house fell after a Department of Justice antitrust lawsuit.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>Paramount Pictures, on the other hand, has had a series of recent box office success stories, with major movies, including director Martin Scorsese’s “Killers of the Flower Moon” and the Tom Cruise action thriller “Mission: Impossible—Dead Reckoning Part One,” hitting it big. The former, an Academy Awards nominee for Best Picture, has grossed more than $157 million worldwide since its premiere last October, while the “Mission: Impossible” sequel has grossed more than $575.5 million since July, according to Box Office Mojo.</p>



<h2 class="wp-block-heading" id="h-forbes-valuation">FORBES VALUATION</h2>



<p>Ellison, the son of Google co-founder Larry Ellison, could bring major funding to Paramount should the deal go through. We estimate Larry Ellison’s <a href="https://www.forbes.com/profile/larry-ellison/?sh=127d3b0624c2">net worth</a> at roughly $159.4 billion, making him the world’s fifth-richest person.</p>


Los Angeles Economy

Paramount Stock Tumbles As $11 Billion Studio Deal Falls Into Doubt, Report Says


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Federal Aviation Administration chief Michael Whitaker criticized Boeing’s safety culture in an interview with <a href="https://www.nbcnews.com/nightly-news/video/faa-chief-issues-around-safety-culture-at-boeing-207038533652" target="_blank" rel="noreferrer noopener">NBC</a>, arguing the company has prioritized production rather than safety, the latest criticism levied at the aircraft manufacturer following a January incident in which a Boeing 737 MAX 9 <a href="https://www.youtube.com/watch?v=ZH9wQOU7dbM" target="_blank" rel="noreferrer noopener">door plug blew out</a> in the middle of an Alaska Airlines flight.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Whitaker told NBC anchor Lester Holt in an interview preview (the interview is set to air on &#8220;NBC Nightly News&#8221; at 6:30 p.m. on Tuesday) that Boeing’s priorities have “been on production and not on safety and quality,” citing a culture survey of Boeing and the&nbsp;<a href="https://www.faa.gov/newsroom/updates-boeing-737-9-max-aircraft" rel="noreferrer noopener" target="_blank">FAA’s audit</a>&nbsp;into the company.</p>



<p>Whitaker said the FAA’s focus is to shift Boeing’s attention to safety and quality.</p>



<p>When asked if certain protocols weren’t being met in terms of Boeing’s airplane production, Whitaker said the company’s process was “not what you would’ve expected if safety is the first priority,” adding if aircraft company procedures and production don’t make for a safe experience, “then the whole system is not working the way it should.”</p>



<p>Boeing didn’t immediately respond to Forbes’ request for comment.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Boeing has been under regulatory scrutiny since January over the Alaska Airlines door plug incident, which triggered an&nbsp;<a href="https://www.faa.gov/sites/faa.gov/files/EIR2024NM420001_737MAX9.pdf" rel="noreferrer noopener" target="_blank">investigation into Boeing</a>&nbsp;and a production halt of Boeing 737 MAX airplanes. An NTSB report found four bolts designed to secure the door plug were missing after a repair job was completed that required the plug to be opened. An FAA audit of Boeing and Spirit AeroSystems found&nbsp;<a href="https://www.faa.gov/newsroom/updates-boeing-737-9-max-aircraft#:~:text=To%20hold%20Boeing%20accountable%20for,in%20Renton%2C%20Washington%2C%20and%20Spirit" rel="noreferrer noopener" target="_blank">non-compliance issues</a>&nbsp;in Boeing’s manufacturing process control, parts handling and storage, and product control. The company has faced safety controversies in the past: In 2019, all 737 MAX planes were ordered out of the sky for over a year after two jets crashed, separate incidents linked to a questionable flight control system.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.forbes.com/sites/antoniopequenoiv/2024/03/06/ntsb-says-its-absurd-boeing-still-hasnt-provided-737-max-information-for-investigation/?sh=65b50a634e35">NTSB Says It’s ‘Absurd’ Boeing Still Hasn’t Provided 737 Max Information For Investigation&nbsp;</a>(Forbes)</p>



<p><a href="https://www.forbes.com/sites/marisagarcia/2024/03/10/doj-opens-new-criminal-investigation-of-boeing-737-max-incident/?sh=3913819a4a2b">DOJ Opens New Criminal Investigation Of Boeing 737 Max Incident</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/antoniopequenoiv/2024/03/07/tire-falls-off-united-airlines-boeing-flight-while-departing-san-francisco/?sh=2325077f7b72">Tire Falls Off United Airlines Boeing Flight While Departing San Francisco</a>&nbsp;(Forbes)</p>



<p><a href="https://www.forbes.com/sites/zacharyfolk/2024/03/07/ntsb-investigating-another-boeing-737-max-aircraft/?sh=3ef425caad75">NTSB Investigating Another Boeing 737 MAX Aircraft</a>&nbsp;(Forbes)</p>


US-AIRPLANE-TRAVEL-TRANSPORT

Boeing Has Put Production Over Safety, FAA Head Says Amid 737 Controversies


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Bitcoin slumped to its lowest price in weeks Tuesday, as the world’s largest cryptocurrency’s all-time high achieved last week looks to be fleeting.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>Bitcoin fell 7% to below $63,000 by 2 p.m. Greenwich Mean Time (10 a.m. EDT), the time zone typically used for cryptocurrencies as the digital assets are traded constantly.</p>



<p>Tuesday was bitcoin’s lowest price since March 5.</p>



<p>Bitcoin is now down about 15% from its all-time high of nearly $73,800 set last Thursday.</p>



<p>Other cryptocurrencies have similarly slumped, and prices of the next three largest digital assets – ether, Solana and Binance coin – are down more than 7% apiece over the last 24 hours.</p>



<h2 class="wp-block-heading" id="h-what-s-behind-bitcoin-s-price-drop">WHAT’S BEHIND BITCOIN’S PRICE DROP?</h2>



<p>There’s no singular catalyst for the recent bitcoin selloff, but several factors are likely at play. Bitcoin’s price is historically much more volatile than stock prices, which combined with traders’ tendency to take profits following a massive runup in asset prices can cause notable downward swings. There’s also significantly elevated trading activity for bitcoin as spot bitcoin exchange-traded funds (ETFs) flooded institutional money into crypto, with daily dollar-value bitcoin volumes registering their 10 largest values over the last three weeks alone, according to Yahoo Finance&nbsp;<a href="https://finance.yahoo.com/quote/BTC-USD/history?p=BTC-USD" rel="noreferrer noopener" target="_blank">data</a>. Finally, there’s been a noticeable uptick in liquidations for bitcoin futures contracts,&nbsp;<a href="https://www.theblock.co/data/crypto-markets/futures/btc-liquidations" rel="noreferrer noopener" target="_blank">according</a>&nbsp;to Coinglass, which can send bitcoin prices lower as exchanges force users to close their leveraged bitcoin positions.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>$320 billion. That’s about how much the combined market capitalization of the global crypto market is down over the last week,&nbsp;<a href="https://www.coingecko.com/en/all-cryptocurrencies" rel="noreferrer noopener" target="_blank">according</a>&nbsp;to CoinGecko. Bitcoin’s $180 billion slide accounts for much of the decline.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Bitcoin’s returns remain eye popping, as its roughly 40% gain over the last six months and 130% year-to-date far outpace those of leading stock indexes. The rally, which erased the steep decline suffered by bitcoin in 2022 as the crypto industry turned sideways amid higher borrowing costs and revelations of high-profile bad actors like FTX’s Sam Bankman-Fried, came as equity prices rose and investors grew excited about the prospects of the ETFs, which went live in January, attracting billions of dollars of fresh capital.<a href="https://www.forbes.com/sites/dereksaul/"></a></p>


Hand holding bitcoin

Bitcoin Falls Another 7%—Down 15% From Last Week’s Record


<p>Nigerian media mogul Mo Abudu is collaborating with pan-African financial institution African Export-Import Bank (Afreximbank) through its Creative Africa Nexus to produce a short film directed by Hollywood actor Idris Elba and starring music icon Seal.</p>



<p>In a move to empower and foster Africa’s creative economy, the founder and CEO of EbonyLife Films will set the movie, <em>Dust to Dreams, </em>in Lagos, Nigeria. The film follows the relationship between a mother and her teenage daughter, as she meets her father for the first time, and Abudu will serve as both Executive Producer and Producer, with Heidi Uys as Supervising Producer. Alongside Abudu and Uys are producers Temidayo Makanjuola, Inem King, and Vanessa Demme. The cast for <em>Dust to Dreams</em> includes international music icon Seal Henry Olusegun Olumide Adeola Samuel, better known by his stage name Seal, along with Nse Ikpe-Etim, Eku Edewor, Atlanta Bridget Johnson and Constance Olatunde (also known as ‘Konstance’).</p>



<p>“I am delighted to be working with Afreximbank and this incredibly talented team. <em>Dust to Dreams</em> is a story close to my heart, and I&#8217;m thrilled to bring it to life with such passionate collaborators,” Abudu shares in a press statement.</p>



<p>Professor Benedict Oramah, President and Chairman of Afreximbank (who was also 2023 FORBES AFRICA African of the Year) adds in the statement that “the Bank is committed to supporting Africa&#8217;s creative industries through financing, facilitation, providing market access solutions, capacity building and other services”.</p>



<p>In a 2022 trade report by Afreximbank, Africa’s creative economy generates over a billion dollars in revenue yearly. In addition to that, the creative economy also creates thousands of jobs. The United Nations Educational, Scientific and Cultural Organization (UNESCO) added in their 2021 report that Africa (along with the Middle East), represents about 3% of this output, generating about $58 billion. The creative economy is recognized as a highly diversified, resilient, and gender-neutral sector that provides high-skilled jobs and encourages young entrepreneurship, while supporting innovative forms of sustainable economic growth.</p>



<p>In the August-September 2023 issue of FORBES AFRICA, the award-winning Elba, who was the edition’s cover star, had said that his film, TV and digital production company, Green Door Pictures in the United Kingdom, would be collaborating with Abudu to empower and uplift talent from Africa.</p>



<p>At the 2024 FORBES WOMAN AFRICA Leading Women Summit in Johannesburg on March 8, Abudu had spoken about her work: “You’ve got to find what you are passionate about. And when you truly find what I call your God-given purpose, I do not see it as a cost… [you need to] go out and do certain things and make a change.</p>



<p>“I spent a better part of my life [in England] and the manner in which I was treated as a black young girl growing up, I knew instinctively that I had to do something to change that and I wasn’t able to until I was 40…,” said Abudu, who also walked away with the FORBES WOMAN AFRICA Businesswoman Award at the 2024 FORBES WOMAN AFRICA Awards.</p>



<p>“Often, when I am asked what I would say to my younger self, it would have been to have the courage to say ‘Mo, you need to go out there and start telling stories about who you are, about who your continent is, the history, the culture and the traditions.”</p>


Most Attractive Youtube Thumbnail (5)

Mo Abudu, Idris Elba And Seal Come Together For Film Collaboration With Afreximbank


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Apple is discussing a potential deal to integrate Google’s artificial intelligence platform Gemini into the iPhone, Bloomberg&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-03-18/apple-in-talks-to-license-google-gemini-for-iphone-ios-18-generative-ai-tools?srnd=homepage-asia" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;Monday, in what could be a major deal between the rival tech giants and impact the wider AI industry.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p><a href="https://www.bloomberg.com/news/articles/2024-03-18/apple-in-talks-to-license-google-gemini-for-iphone-ios-18-generative-ai-tools?srnd=homepage-asia" rel="noreferrer noopener" target="_blank">According to</a>&nbsp;Bloomberg, Apple is holding “active negotiations” to license Gemini’s AI models to integrate its generative AI features into an upcoming software update to the iPhone later this year.</p>



<p>Apple’s discussions with Google follow similar talks it held with Microsoft-backed OpenAI—the maker of ChatGPT and DALL-E, the report adds.</p>



<p>Apple will release iOS 18—the latest version of its mobile operating system—later this year and it is&nbsp;<a href="https://9to5mac.com/2024/02/19/ios-18-ai-features-rumors/" rel="noreferrer noopener" target="_blank">expected to integrate</a>&nbsp;several AI features, including a more powerful version of the digital assistant Siri.</p>



<p>While the iPhone maker is reportedly&nbsp;<a href="https://www.ft.com/content/52839eb2-6641-42a6-acd7-5d41e809c97a" rel="noreferrer noopener" target="_blank">working</a>&nbsp;on its own AI tools, which will run locally on its devices, the Gemini integration will allow it to tap into Google’s cloud-based and more complex generative AI services like a chatbot or image generator.</p>



<p>According to the report, the deal is yet to be finalized, and if it falls through, Apple may end up choosing an alternative AI provider like OpenAI or Anthropic.</p>



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



<p>During Apple’s earnings call last month, CEO Tim Cook&nbsp;<a href="https://seekingalpha.com/article/4666956-apple-inc-aapl-q1-2024-earnings-call-transcript" rel="noreferrer noopener" target="_blank">said</a>: “In terms of generative AI… we&#8217;ve got some things that we are incredibly excited about that we&#8217;ll be talking about later this year.” He later added: “Let me just say that I think there’s a huge opportunity for Apple with generative AI and with AI, without getting into many more details or getting out ahead of myself.”</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>While the two companies are competitors in the smartphone market, they have for years had a multibillion-dollar deal to keep Google as the default search engine on Apple devices. That deal has come under&nbsp;<a href="http://theverge.com/2023/10/11/23913287/us-v-google-apple-search-deal" rel="noreferrer noopener" target="_blank">significant scrutiny</a>&nbsp;in the past year as Google battles a landmark antitrust case in the U.S. The search deal has allowed Google to maintain its almost uncontested dominance in search and a similar AI deal is likely to give it an edge over the likes of Microsoft, OpenAI and Meta. Because of this any potential deal between the two companies is likely to draw more scrutiny from regulators around the world.</p>



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



<p>$18 billion. That is the&nbsp;<a href="https://www.nytimes.com/2023/10/26/technology/google-apple-search-spotlight.html" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;amount of money Google pays Apple each year to remain as the default search engine on iPhones.</p>



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<p>Earlier this year, Samsung&nbsp;<a href="https://news.samsung.com/global/samsung-and-google-cloud-join-forces-to-bring-generative-ai-to-samsung-galaxy-s24-series" rel="noreferrer noopener" target="_blank">announced</a>&nbsp;its new flagship Galaxy G24 series of smartphones will use Gemini to power several AI features. Gemini is being used to power certain components of the phone’s text messaging, notes, voice recorder and keyboard apps. This integration included both the cloud-based Gemini Pro model and the smaller Gemini Nano model that runs locally on the phone.</p>



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<p><a href="https://www.bloomberg.com/news/articles/2024-03-18/apple-in-talks-to-license-google-gemini-for-iphone-ios-18-generative-ai-tools?srnd=homepage-asia" target="_blank" rel="noreferrer noopener">Apple Is in Talks to Let Google’s Gemini Power iPhone Generative AI Features</a> (Bloomberg)</p>


Apple Holds Product Unveiling Event

Apple Reportedly In Talks With Google To Integrate Gemini’s AI Service Into The iPhone


<p><strong>Quantum security in Africa may not be as advanced as in other regions, but it is recognized as an important facet of computation in the future.</strong></p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>“Right now, quantum computing is where classical computing was in the 1960s.”</p>
</blockquote>



<p>Quantum is about to change how computers are used to attack. No, it’s not here right now. It’s probably not going to be here tomorrow. But it’s coming and it’s time to pay attention.</p>



<p>The <a href="https://www.weforum.org/publications/quantum-readiness-toolkit-building-a-quantum-secure-economy/">World Economic Forum</a> is listening. It released a Quantum Readiness Toolkit in 2023 discussing the speed of quantum development, the increase in quantum computers and the cybersecurity threats these introduce. The <a href="https://www.epc.eu/en/publications/A-quantum-cybersecurity-agenda-for-Europe~526b9c">European Policy Centre</a> published its quantum security agenda the same year, putting the quantum conversation firmly in the security spotlight. Quantum has the potential to change everything, including cybersecurity.</p>



<p>“It will change how computers will be used to attack and defend, potentially cracking cryptographic algorithms at speed,” says Martin Potgieter, Co-Founder and Technical Director at Nclose in Cape Town, South Africa. “While quantum computers are largely experimental and impractical, the idea is that when they become mainstream, they will introduce exponentially greater computing power.”</p>



<p>Professor Bruce Watson, Director of the Computational Thinking for AI Group, in the Centre for AI Research (CAIR), in <a href="https://www.bing.com/ck/a?!&amp;&amp;p=5a340fced2ef2890JmltdHM9MTcxMDQ2MDgwMCZpZ3VpZD0wZGZiMjgzOC1hMjgxLTZlZTQtMWY2ZC0zYmVhYTM0ZDZmZGMmaW5zaWQ9NTc5OQ&amp;ptn=3&amp;ver=2&amp;hsh=3&amp;fclid=0dfb2838-a281-6ee4-1f6d-3beaa34d6fdc&amp;u=a1aHR0cHM6Ly93d3cuYmluZy5jb20vYWxpbmsvbGluaz91cmw9aHR0cHMlM2ElMmYlMmZ3d3cuc3VuLmFjLnphJTJmJnNvdXJjZT1zZXJwLWxvY2FsJmg9M2pNJTJmdG5sWGR3SlUxZ3JuVG5FektKTXolMmIzdW8yQzhXJTJiTnIySkE5TEFaTSUzZCZwPWx3X3RwdCZpZz1GMjExNzZDMjBBREQ0QTg0ODI0NzBERTgyQTE4RTMwNyZ5cGlkPVlOODIwMngxODM0MjI0MDk2MDgzOTcwMjgwOQ&amp;ntb=1" target="_blank" rel="noreferrer noopener">Stellenbosch University</a>, South Africa, adds: “They are complex and expensive to build requiring facilities that have liquid nitrogen or liquid helium cooling with vibration-proof infrastructure that can cost upwards of $100 million just for the lab. Right now, quantum computing is where classical computing was in the 1960s.”</p>



<p>This is globally, not just in Africa. While some of the big names in technology are putting their money in the quantum basket, the technology and its capabilities are on par with the grainy photographs of giant computers and stacks of floppy discs over 70 years ago. The only difference is that countries like the United States (US) and China have the budgets to drive the quantum agenda.</p>



<p>“In Africa, there are several labs working on quantum experimentation but none are building full-blown quantum computers,” continues Watson. “It comes back to the cost point. Even though we have the scientists and the mathematicians and are building up this expertise on the continent we’ll be making use of overseas facilities for the foreseeable future.”</p>



<p>However, this doesn’t change the need to prioritize quantum security on the continent. Just as the first virus – the Creeper – released in 1971 was an unexpected side-effect of innovation back then, so it will be for the quantum computer in the future.</p>



<p>“I don’t see this as a region-specific phenomenon,” says Potgieter. “Should Sothern African Development Community and the African Union put quantum security on their agenda, if they don’t already? While we have a lot of problems in Africa that need attention and there are a lot of variables, it should be discussed at a high level.”</p>



<p>Looking ahead, it is very likely that sectors such as finance and healthcare – both very much in line to benefit from the potential of quantum – will look to implementing protocols and guidelines that will ensure they are protected.<br><br>According to Jean-Francois Bobier, Partner and Vice President, Deep Tech at Boston Consulting Group, there are no regulations specifically for the banking sector in Africa at the moment. In Morocco, initiatives are driven by leading banking groups such as Attijariwafa Bank at a preliminary stage but central banks are still struggling to impose Transport Layer Security (TLS) with classical cypher algorithms.</p>



<p>“It’s likely Africa will follow the National Institute of Standards and Technology (NIST) guidelines which are based in the US and we expect them to mandate the move to post-quantum cryptography in 2025,” he adds. “We anticipate it will be similar to Y2K, even worse because crypto is everywhere, has never been properly documented, and is sometimes hard-coded in applications and certificates.”</p>



<p>Quantum security in Africa may not be as advanced as in other regions, but it is recognized as an important facet of computation in the future. Steven Cohen, Managing Director of Triple S Solutions, adds: “The continent’s diverse economic and technological landscape means different countries will engage with this issue at different paces and levels of intensity. However, given the global nature of digital security and communication, quantum security is a conversation worth having.”</p>



<p>Over the next five years, quantum is unlikely to leap into mainstream but the groundwork laid in these years will be critical for shaping the quantum future in Africa.</p>



<p>As Watson concludes: “As far as I can tell, we don’t have a single significant post-quantum cryptography effort or quantum security effort for designing new algorithms. There are people across Africa advocating for the need for post-quantum cryptography but the vast majority don’t yet understand that they should be taking action now.”</p>


Children Screen Time Rockets

Africa’s Quantum: Welcome To The 1960s


<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>“Rassie sets the tone around the culture of the group. I am close with Felix Jones, and he just said to me the pleasure when you are with the Springboks is working with the players.”</p>
</blockquote>



<p>South Africa have bolstered their attack and defence coaching as they go in search of a ‘three-peat’ and a hattrick of Rugby World Cup titles in Australia in 2027.</p>



<p>Former head coach Jacques Nienaber, who was primarily tasked with working on the defence, has left for Irish side Leinster, while Felix Jones, who had a big part to play in their attacking patterns, has linked up with the English national team.</p>



<p>With Rassie Erasmus back in the fold as head coach to replace Nienaber, he scoured the rugby world for replacements he feels can take the Springboks to the next level.</p>



<p>Former New Zealand flyhalf Tony Brown will become the first ex-All Black to be part of a Springbok technical team, something that might have seemed impossible in the past.</p>



<p>But he did previously play the Durban-based Sharks and Stormers from Cape Town, so has links to the game in the country.</p>



<p>“The Springboks have a proud history and for me to come in and be a part of that is a huge honor. The way the Springboks play the game is admired around the world,” Brown says. </p>



<p>“I believe I can make a massive difference in helping the team on attack. If we add a few things to the attacking side, to go with the impressive defence, we can be really dominant.</p>



<p>“We will never change the Springboks identity; I will just find ways to add to how they play the game.”</p>



<p>Brown says he had no hesitation in accepting the job when it was offered to him, despite his All Black allegiances. </p>



<p>“As soon as Rassie rang, I said ‘yes’. I did not have to consult anyone. The challenge is massive and I can’t wait to get into it.”</p>



<p>Former Ireland international hooker Jerry Flannery is the new defence coach, having previously worked with Erasmus at Irish side Munster.</p>



<p>He too has earned praise for his work ethic and understanding of how to get the best out of players and form roles for them that suit their attributes.</p>



<p>“It is pretty evident when you talk to the players and South African people, the team is so important for the country,” Flannery says. “The players feel a bigger sense of purpose when playing for this team. The pride is there, and it is a really special thing. I will bring my very best and look to add to that.</p>



<p>“There is a massive willingness to learn. You watch the players, their eyes are laser-focused on what the coach is delivering to them. The players want to get better. That makes the coach’s job really easy.</p>



<p>“Rassie sets the tone around the culture of the group. I am close with Felix Jones, and he just said to me the pleasure when you are with the Springboks is working with the players.”</p>



<p>South Africa begin their 2024 season with a game against Wales in London on June 22, before they welcome Ireland for a two-Test tour the following month which pits the number one and two teams in the world against one another.</p>



<p>“The Irish test will be pretty personal for me,” Flannery says. “Ireland are playing some fantastic rugby. It will be a fantastic test for us.”</p>


Springbok head coach Rassie Erasmus at a media conference to introduce the new technical team and preview the forthcoming season

‘Laser-Focused’: What South Africa’s New-Look Springboks Technical Team Will Bring In Their Various Roles


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Here’s how the controversial new TikTok ban—which passed the House—would work, its chances of passing the Senate and which American companies could potentially purchase the app and avoid a full TikTok shutdown in the U.S.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>The bill will now move to the Senate, where it faces an uncertain future, likely facing more scrutiny from Democrats, with Majority Leader Chuck Schumer, D-N.Y., confirming in a&nbsp;<a href="https://www.cnn.com/politics/live-news/tiktok-ban-bill-house-vote-03-13-24/index.html" rel="noreferrer noopener" target="_blank">statement</a>&nbsp;the Senate will “review the legislation” but did not promise to hold a vote.</p>



<p>However, both chairs of the Senate Intelligence Committee, Sen. Marco Rubio, R-Fla., and Sen. Mark Warner, D-Va., said in a&nbsp;<a href="https://twitter.com/AndrewDesiderio/status/1767924695838445612" rel="noreferrer noopener" target="_blank">statement</a>&nbsp;they were “encouraged” by the bipartisan vote on Wednesday and “look forward to working together to get this bill passed through the Senate and signed into law.”</p>



<p>TikTok bans have traditionally been supported by Republicans in the last few years—with Sen. Josh Hawley pushing one&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2023/11/07/hawley-calls-for-tiktok-ban-over-alleged-anti-israel-content/">several times</a>&nbsp;in 2023—but some Republicans have expressed concerns about the House’s bill, including Sen. John Cornyn, R-Texas, who told&nbsp;<a href="https://twitter.com/mkraju/status/1767276119621795934?s=20" rel="noreferrer noopener" target="_blank">CNN</a>, “I&#8217;m not sure that this is the answer.”</p>



<p>If the bill is passed in the Senate, President Biden said he would likely sign it into law, telling reporters last week “if they pass it, I&#8217;ll sign it.”</p>



<p>Meanwhile, TikTok CEO Shou Zi Chew is lobbying senators on Capitol Hill today,&nbsp;<a href="https://www.reuters.com/technology/us-house-vote-force-bytedance-divest-tiktok-or-face-ban-2024-03-13/" rel="noreferrer noopener" target="_blank">Reuters</a>&nbsp;reported.</p>



<h2 class="wp-block-heading" id="h-is-it-really-a-ban">IS IT REALLY A BAN?</h2>



<p>Yes. The bill, called the Protecting Americans from Foreign Adversary Controlled Applications Act, will ban TikTok or any app owned or distributed by a company controlled by a “foreign adversary nation.” It also bans web hosting companies from storing files or data from TikTok. This provision would force TikTok to search for an American buyer or face a shutdown in the U.S., possibly similar to what happened after&nbsp;<a href="https://www.forbes.com/sites/conormurray/2023/03/23/heres-what-happened-when-this-massive-country-banned-tiktok/?sh=3cc3721f2c03">India banned the app</a>&nbsp;in 2020.</p>



<h2 class="wp-block-heading" id="h-will-tiktok-shut-down-immediately-if-this-becomes-law">WILL TIKTOK SHUT DOWN IMMEDIATELY IF THIS BECOMES LAW?</h2>



<p>No. TikTok will not stop working in the U.S. immediately if the bill is signed into law by President Biden. The bill would give ByteDance a 180-day grace period to sell TikTok, allowing it to continue operating in the U.S. temporarily until it finds a buyer. If not, it will become illegal for app stores, like those operated for Apple and Android devices, to host the app or distribute updates. It is also unclear if the TikTok ban would survive legal challenges. President Trump’s attempts to ban the app were continuously put on hold by federal judges, and&nbsp;<a href="https://www.google.com/search?q=site%3Aforbes.com+montana+tiktok&amp;sca_esv=febbb2d9e55257df&amp;source=hp&amp;ei=S7DxZcHSIKanptQPgPGqqAw&amp;iflsig=ANes7DEAAAAAZfG-W0fYTSGDuJ_uQiKyTqqd9iSCEjte&amp;ved=0ahUKEwiBpLKCsvGEAxWmk4kEHYC4CsUQ4dUDCBc&amp;uact=5&amp;oq=site%3Aforbes.com+montana+tiktok&amp;gs_lp=Egdnd3Mtd2l6Ih5zaXRlOmZvcmJlcy5jb20gbW9udGFuYSB0aWt0b2tIyB1QAFiMHHAAeACQAQCYAZcBoAGpDqoBBDI4LjK4AQPIAQD4AQGYAgWgAqwDwgIREC4YgAQYsQMYgwEYxwEY0QPCAg4QLhiABBiKBRixAxiDAcICCxAAGIAEGLEDGIMBwgIOEC4YgAQYsQMYxwEY0QPCAgsQLhiABBjHARjRA8ICBRAuGIAEwgIFEAAYgATCAgsQLhiABBixAxiDAcICCBAuGIAEGLEDwgIIEAAYgAQYsQPCAg0QABiABBixAxhGGPkBwgIREC4YgwEYxwEYsQMY0QMYgATCAg4QLhiABBjHARivARiOBcICCxAuGIAEGMcBGK8BwgIOEC4YrwEYxwEYgAQYjgXCAhMQLhiDARjHARixAxjRAxiABBgKmAMAkgcDMy4yoAfBVg&amp;sclient=gws-wiz#:~:text=Montana%20Governor%20Signs,com%20%E2%80%BA%20Business" target="_blank" rel="noreferrer noopener">Montana’s statewide ban</a>&nbsp;on the app was&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2023/11/30/montanas-tiktok-ban-blocked-by-federal-judge/">blocked in November</a>. The state has since&nbsp;<a href="https://www.reuters.com/legal/montana-appealing-ruling-that-blocked-state-barring-tiktok-use-2024-01-03/" rel="noreferrer noopener" target="_blank">appealed the ban</a>&nbsp;to the Ninth Circuit Court of Appeals.</p>



<h2 class="wp-block-heading" id="h-how-soon-could-tiktok-be-shut-down">HOW SOON COULD TIKTOK BE SHUT DOWN?</h2>



<p>The 180-day sale period begins after the bill is enacted—after it passes the Senate and is signed into law by the president. So a ban could happen within six months of Biden’s signature.</p>



<h2 class="wp-block-heading" id="h-who-could-purchase-tiktok">WHO COULD PURCHASE TIKTOK?</h2>



<p>It remains to be seen if any companies would be able to quickly purchase the massively popular app, which ByteDance last valued at $223.5 billion. Microsoft previously tried to purchase TikTok in 2020, but the deal quickly collapsed after former President Trump’s executive orders banning the app were blocked by federal judges. Oracle, the cloud computing firm, and Walmart were part of a group that also tried to purchase TikTok in 2021, but the deal was also shelved after Biden took office, the&nbsp;<a href="https://www.wsj.com/articles/tiktok-sale-to-oracle-walmart-is-shelved-as-biden-reviews-security-11612958401" rel="noreferrer noopener" target="_blank">Wall Street Journal</a>&nbsp;reported.</p>



<h2 class="wp-block-heading" id="h-chief-critics">CHIEF CRITICS</h2>



<p>A total of 66 representatives voted against the bill on Wednesday, including members of the House Progressive Caucus. Rep. Alexandria Ocasio-Cortez, D-N.Y., voted no on the bill that she called “incredibly rushed” in a social media post on Wednesday. “There are serious antitrust and privacy questions here, and any national security concerns should be laid out to the public prior to a vote,” she said. Others joined a press conference with TikTok creators organized by Rep. Robert Garcia, D-Calif., on Tuesday afternoon. Garcia criticized the argument that TikTok posed a national security threat, and said a classified briefing on TikTok failed to convince him that the threat was serious. “There was nothing in that briefing that changed my mind that this is an immediate national security threat, and that we’re going to remove this platform for 170 million Americans.” The most surprising critic of the bill, however, is former President Trump, who came out against the ban after it passed through committee last Friday. During his last year in office, Trump tried multiple times to ban TikTok by executive action—all of which were blocked by federal judges before being rescinded by the Biden administration. In an interview with&nbsp;<a href="https://www.cnbc.com/2024/03/11/cnbc-transcript-former-president-of-the-united-states-donald-trump-speaks-with-cnbcs-squawk-box-today-.html" rel="noreferrer noopener" target="_blank">CNBC</a>&nbsp;on Monday, Trump said “the thing I don’t like is that without TikTok, you can make Facebook bigger and I consider Facebook to be an enemy of the people.”</p>


In this photo illustration the TikTok logo seen displayed on

TikTok Ban: When It Could Happen And Who Could Stop It


<p>In a recent study conducted by Kuda, a Nigerian fintech, it was revealed that Generation Z in Nigeria exhibit a unique financial behavior compared to older demographics, preferring saving over investing.</p>



<p>Analyzing a sample size of 774,532,224 transactions from 2023, Kuda found that while Gen Z spent only 0.002% of their transactions on investments, a significant 14.73% went into savings. In contrast, Millennials and Gen X allocated slightly more towards investments at 0.003% and 0.004%, respectively, yet saved less than Gen Z at 12.79% and 13.43% respectively.</p>



<p>The report revealed that Nigerians aged 43 to 59 invested more while ages 18 and 26 invested less but saved more.</p>



<p>This inclination towards saving among Gen Z carries significant implications, especially in Nigeria&#8217;s economic context. With the Naira&#8217;s value fluctuating against the dollar, the decision to prioritize saving over investing reflects a broader socioeconomic and cultural landscape.</p>



<p>Babs Ogundeyi, CEO and co-founder of Kuda, shedding light on the factors influencing Gen Z&#8217;s financial behavior, explains to FORBES AFRICA: &#8220;The preference for saving over investing among this demographic can be attributed to a few things. Firstly, Nigeria doesn’t have a strong investment culture, and for Gen Z, the reluctance towards investing stems from the perceived risks, with many prioritizing the certainty of savings over potential uncertainties. However, investment opportunities are still emerging for Gen Z, with significant potential for growth.&#8221;</p>



<p>Ogundeyi highlights that Nigeria&#8217;s investment culture faces challenges, and the perception of risk outweighs the allure of potential returns for many young Nigerians. Limited access to mainstream credit pushes Gen Z towards more risk-averse financial behaviors, further reinforcing the culture of saving.</p>



<p>Despite these challenges, Ogundeyi remains optimistic about the evolving financial landscape: &#8220;The economic climate plays a pivotal role and positive phases will spark interest in investments due to the potential to make good returns.&#8221;</p>



<p>In response to these trends, Kuda has embarked on initiatives to address lack of financial literacy among this demographic and bridge the gap between saving and investing.</p>



<p>Ogundeyi elaborates on Kuda&#8217;s approach: &#8220;We have redesigned the Kuda app to be more than just a place to manage money. We have integrated substantial educational content directly into the app — making it easier than ever for our customers, especially Gen Z, to learn and grow financially. Within the app, customers can also invest in global stocks at fractional prices using the Naira, including renowned options like Tesla, alongside Nigerian stocks.&#8221;</p>



<p>He also acknowledges the importance of private sector involvement in promoting financial literacy: &#8220;There is a growing trend in the private sector, where innovative businesses are actively engaging in financial education to tap into an underserved market. This shift is particularly evident in the investment community, which traditionally focused on the savvy investor. Now, more private companies are making strides to appeal to those with limited knowledge about investing.&#8221;</p>



<p>For Ogundeyi, the long-term impact of these efforts is promising, noting as companies continue to prioritise financial literacy and provide accessible investment options, &#8220;we could have a positive mindset shift.&#8221;</p>



<p>&#8220;The ongoing expansion of credit options, coupled with a focus on continuous education, could lead to significant changes in how Gen Z perceives and engages with their finances. Ultimately, sustained financial literacy efforts, coupled with tangible results from investments, can contribute to a more informed financial ecosystem,&#8221; says Ogundeyi.</p>


African female sitting outside with her laptop and phone

Study Finds Nigeria’s Gen Z More Inclined To Saving Than Investing


<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



<p>Microsoft&nbsp;<a href="https://msrc.microsoft.com/blog/2024/03/update-on-microsoft-actions-following-attack-by-nation-state-actor-midnight-blizzard/" rel="noreferrer noopener" target="_blank">says</a>&nbsp;that the Russian-linked group known as Midnight Blizzard or Nobelium has made repeated attempts to access Microsoft’s systems in recent weeks, escalating its efforts against Microsoft since the company first disclosed in January that Midnight Blizzard had&nbsp;<a href="https://msrc.microsoft.com/blog/2024/01/microsoft-actions-following-attack-by-nation-state-actor-midnight-blizzard/" rel="noreferrer noopener" target="_blank">accessed</a>&nbsp;some of its corporate email accounts.</p>



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



<p>The group first launched its attack on Microsoft in November, with the company disclosing in January that the group had successfully used a “password spray attack,” trying a large number of potential passwords on known accounts, to finally access “a very small percentage of Microsoft corporate email accounts.”</p>



<p>On Friday, Microsoft announced in both a blog post and an&nbsp;<a href="https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0000789019/000119312524062997/d808756d8ka.htm" rel="noreferrer noopener" target="_blank">SEC filing&nbsp;</a>that Midnight Blizzard was using information lifted from that attack “to gain, or attempt to gain, unauthorized access” to the company’s source code repositories and internal systems.</p>



<p>Microsoft says that Midnight Blizzard has increased the volume of its attacks “by as much as 10-fold” compared to what the company had already seen in January.</p>



<p>While Microsoft maintains that none of its customer-facing systems have been compromised, it noted that Midnight Blizzard may have accessed some emails between customers and Microsoft, and Microsoft has begun reaching out to affected customers.</p>



<p>Midnight Blizzard, as Microsoft refers to it, goes by&nbsp;<a href="https://www.microsoft.com/en-us/security/blog/2024/01/25/midnight-blizzard-guidance-for-responders-on-nation-state-attack/" rel="noreferrer noopener" target="_blank">several names</a>, including Nobelium, APT29 and perhaps most recognizably Cozy Bear—the name that made headlines when it targeted the Democratic National Convention ahead of the 2016 elections, part of the hack which led to the discovery of Russian efforts to manipulate U.S. politics that year.</p>



<h2 class="wp-block-heading" id="h-what-was-midnight-blizzard-s-role-in-the-dnc-hack">WHAT WAS MIDNIGHT BLIZZARD’S ROLE IN THE DNC HACK?</h2>



<p>Midnight Blizzard, reported at the time as Cozy Bear, was one of two&nbsp;<a href="https://www.cnbc.com/2020/07/17/fancy-bear-cozy-bear-russia.html" rel="noreferrer noopener" target="_blank">Russian-linked</a>&nbsp;groups cited for the infamous hack of the Democratic National Convention ahead of the 2016 election. The other group, Fancy Bear, is believed to be linked to Russian military intelligence, also known as the GRU, which likely played a “more active role” in the hack and Russia’s widely reported disinformation campaign, according to Adam Meyers, head of counter adversary operations at CrowdStrike, the cybersecurity firm that&nbsp;<a href="https://www.crowdstrike.com/blog/bears-midst-intrusion-democratic-national-committee/" rel="noreferrer noopener" target="_blank">first investigated</a>&nbsp;the DNC hack. Cozy Bear, on the other hand, is associated with the Russian SVR, which is Russia’s external intelligence agency and was likely doing “intelligence collection” in the hack, Meyers said.</p>



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



<p>Cozy Bear has a “long operational history” dating back to the 2010s, Meyers told Forbes, often engaging in campaigns targeting diplomatic and political intelligence collection. The DNC hack wasn’t its only high-profile campaign. The group has been pinned for the 2020 hack of&nbsp;<a href="https://www.businessinsider.com/solarwinds-hack-explained-government-agencies-cyber-security-2020-12" rel="noreferrer noopener" target="_blank">SolarWinds</a>, a Texas-based IT firm, which then passed along compromised system updates to thousands of customers—including Microsoft and U.S. agencies, including the Pentagon and the Department of Homeland Security. More recently, the hacks targeting Microsoft and also hacks in January&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-01-24/hpe-says-it-was-hacked-by-group-believed-to-be-midnight-blizzard" rel="noreferrer noopener" target="_blank">targeting&nbsp;</a>Hewlett Packard, have brought the group back into public awareness.</p>



<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



<p>Microsoft wrote in its filing that its investigation into the attacks is ongoing, that findings will continue to evolve “and further unauthorized access may occur.”</p>



<h2 class="wp-block-heading" id="h-chief-critic">CHIEF CRITIC</h2>



<p>Meyers raised concern about Microsoft’s ability to contain the attack, given its warning about potential further unauthorized access. He noted Microsoft was also breached in the SolarWinds attack and <a href="https://www.reuters.com/world/us/chinese-hackers-stole-60000-emails-us-state-department-microsoft-hack-senate-2023-09-27/" target="_blank" rel="noreferrer noopener">pointed to access</a> from Chinese hackers who accessed emails from State Department officials through Microsoft. He said he believed that Microsoft is a “national security threat” due to this history of breaches, noting the company’s many contracts with governments around the world—many of whom are electing new leaders this year—and its own advanced artificial intelligence models. “Think about what a Russian threat actor like Cozy Bear can do with some of the most advanced AI models known to man,” Meyers told Forbes. Forbes has contacted Microsoft for comment.</p>


Logo Photo Illustration

Who Is Midnight Blizzard? Russian-Linked Group Has Repeatedly Targeted Microsoft, Company Says


<p>At the 2024 FORBES WOMAN AFRICA Awards, held at the Emperors Palace in Johannesburg on Friday, March 8, African stateswoman and South Africa’s former first lady Graça Machel took home the 2024 FORBES WOMAN AFRICA Lifetime Achievement Award. Machel dedicated the award to women both past and present.</p>



<p>“It has been a long moment and a long journey. It has been nearly eight decades of my journey. And as I stand here, what comes across my mind literally is the hundreds and thousands across the continent, across the globe – many women, most of them who are not here but many millions that are represented here by you today,” the founder of The Graça Machel Trust told a packed ballroom, accepting her award.</p>



<p>“Imagine I am standing here with the likes of Ma’Sisulu… those who are in my generation… We had dreams together, we fought together. And there were times we didn’t believe it would happen not only to have countries be free but more importantly to have women, young women taking what I call center-stage.”</p>



<p>Machel’s dedication to service is rooted in Mozambique’s struggle for self-rule and international advocacy for women and children’s rights. She has also dedicated her life to building equitable rights for women and children.</p>



<p>Machel produced a ground-breaking United Nations Children&#8217;s Fund (Unicef) report, The Impact of Armed Conflict on Children, that changed the way the United Nations and member states respond in conflict zones. She has worked in advocating for global health, child welfare, and women’s rights and empowerment.</p>



<p>The Graça Machel Trust she founded in 2010 focuses on advocating for women’s economic and social empowerment, food security and nutrition, education for all, as well as good governance.</p>



<p>In her speech, Machel stated that she will be using this award to encourage young women to uplift the continent. “At the Graca Machel Trust, we say ‘the future is African and the future is female’; this is the expression of what we see here tonight.”</p>



<p>She added it is the first time she has received an award in the presence of her family.</p>



<p>The star-studded evening celebrated women excelling in different sectors and industries across the continent. Other winners included South African middle-distance runner and Olympic gold medalist Caster Semenya (2024 FORBES WOMAN AFRICA Champion of Change Award), Banyana Banyana head coach Desiree Ellis, South African actress Nomzamo Mbatha (2024 FORBES WOMAN AFRICA Entertainer Award), South African actress Connie Ferguson (2024 FORBES WOMAN AFRICA Media Icon Award), and CEO at EbonyLife Mo Abudu (2024 FORBES WOMAN AFRICA Businesswoman Award).</p>



<p>The 2024 FORBES WOMAN AFRICA Awards gala was held as part of the ninth annual FORBES WOMAN AFRICA Leading Women Summit on March 8.</p>


Category: Current Affairs