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Nigeria Waits for Complete Election Results

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By Lukman Otunuga, FXTM Research Analyst

Whatever the outcome of Nigeria’s presidential election, it will certainly have an impact on investor sentiment.

Foreign investors need to see Nigeria stepping up its efforts to diversifying away from oil dependence, while also boosting infrastructure spending across major sectors. If the correct strategy is implemented towards improving local macroeconomic conditions and shielding against external forces, Nigeria could move a step close to nearing its true potential. Although the elections will affect investor confidence in the near term, it’s the critical steps taking after that will shape sentiment towards the largest economy in Africa.

Pound clings onto Brexit delay hopes

Pound bulls were injected with a renewed sense of confidence this morning following reports that UK Prime Minister Theresa May could delay Brexit beyond 29 March.

This development will certainly remove some element of uncertainty over Brexit whilst soothing fears over the UK crashing out of the EU without a deal in place next month. However, a major risk accompanied by extending Article 50 is that Britain will find itself trapped in a Brexit limbo. While the Pound has scope to extend gains on Brexit delay expectations, the medium to longer term outlook remains blurred by a thick cloud of uncertainty. With the odds of a second referendum also rising after Labour leader Jeremy Corbyn made a U-turn to back the move, another question floating in the air is whether there will even be a Brexit.

With just over one month left until the UK is scheduled to leave the European Union, we expect the Pound to display extreme levels of sensitivity and volatility to Brexit headlines. Although some attention will be directed towards the inflation report hearings later today, this will likely be overshadowed by a crucial cabinet meeting where the Brexit deadline will be discussed.

Focusing on the technical picture, the GBPUSD is pushing higher on the daily charts with prices trading around 1.3130 as of writing. The combination of Brexit delay expectations and Dollar weakness has the potential to push the GBPUSD towards 1.3200 in the near term.

Dollar waits for Jerome Powell

The Dollar has lost its mojo in recent days, slipping closer to the 96 psychological level due to a number of domestic and external factors.

A string of soft economic data from the United States, coupled with growing speculation over the Fed taking a break on monetary tightening this year, has brought nothing but bad news for the Dollar. The risk-on flows have also pulled investors away from safe-haven assets and currencies, which will inevitably pressure the Dollar further. Although Dollar bulls were initially supported by the economic divergence between the US and everyone else, this theme could be coming to an end.

Much attention will be directed towards Fed Chair Jerome Powell’s congressional testimony later in the day. Powell’s testimony could offer investors some additional insight into the Federal Reserve’s monetary policy stance for 2019. The central bank head is expected to reiterate that the Federal Reserve will remain “patient” on future hikes. We see the Dollar weakening against a basket of major currencies if Powell adopts a dovish tone during his testimony.

Commodity spotlight – Gold

Gold weakened towards $1,326 this morning, as US-China trade optimism sent investors sprinting to riskier assets.

Although the precious metal is at risk of depreciating further in the short term amid the risk-on sentiment, the medium to longer term outlook swings in favour of Gold bulls. For as long as geopolitical risks, concerns over plateauing global growth and speculation over the Fed taking a pause on rate hikes remain key themes, Gold is insulated from extreme downside shocks.

 In regards to the technical picture, sustained weakness below $1,330 is likely to encourage a decline towards $1,318. However, bulls still remain in control above the $1,303 higher low.

 

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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Tech Alliance Aims to Transform Africa’s Mapping System

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Space42, the UAE-based global AI-powered space-tech company, part of technology group G42, this week announced the signing of a memorandum of understanding with Microsoft and Esri to deliver high-resolution, scalable base maps across all 54 African countries, serving over 1.4 billion people.

Known as the “Map Africa Initiative,” the project will create a comprehensive base map of the continent to date, addressing challenges in infrastructure, investment, and institutional gaps, according to Space24.

The company said the updated mapping system will catalyse economic development through increased access to intelligent solutions that support governments, businesses, and communities.

The five-year collaboration aims to strengthen geospatial capabilities across Africa and the UAE, and provide precise and accessible data to national and regional stakeholders.

Space 24 detailed how the initiative will enable economic opportunities and innovation, saying the program is expected to unlock long-term value across multiple industries including: ports and logistics; renewable energy; security and disaster response; smart cities and digital economies.

It added: “Accurate maps are foundational to urban planning, public services, and technology deployment. The data will be licensed to national governments, enabling ownership and long-term updating by National Mapping Agencies. Over time, the initiative will also support a new commercial ecosystem of African startups. The data will eventually be housed in G42 and Microsoft-managed data centers across the continent.”

Hasan Al Hosani, CEO of Smart Solutions at Space42, said: “Partnership is core to the UAE’s DNA, and is central to how Space42 operates. This collaboration with Microsoft and Esri is more than technical; it’s strategic. It advances Space42’s business priorities, strengthens our role as a trusted partner to governments, and delivers meaningful benefits to communities across Africa.

“Accurate, high-quality mapping and the intelligence solutions built on it are essential for growth, resilience, and inclusive innovation. With reliable data, communities and economies prosper.”

While, Jack Dangermond, president of Esri added: “We are proud to support the Map Africa Initiative in partnership with Space42. Transforming satellite imagery into detailed, accurate base maps at continental scale requires advanced geospatial technology and professional production workflows.

“These same capabilities have supported similar national and regional mapping efforts around the world. With Map Africa, we are helping to establish a foundational resource that will drive infrastructure planning, economic growth, and sustainable development across the continent.”


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Kenya Tops Global Rankings for ChatGPT Use

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Kenya has emerged as the global leader in the adoption of ChatGPT, with a higher percentage of its internet users utilizing the AI chatbot than any other country.

According to the July 2025 Global Digital Report from DataReportal and Meltwater, an astounding 42.1% of Kenyan internet users aged 16 and above used ChatGPT in the past month.

This remarkable statistic places Kenya at the forefront of a global shift towards integrating artificial intelligence into daily life, outranking traditionally tech-forward nations such as the United Arab Emirates (42%), Israel (41.4%), Malaysia (39.8%), and Brazil (39.7%). In contrast, major economies like Russia (10.8%), China (7.3%), and Japan (5.8%) showed significantly lower adoption rates.

The report, which provides a comprehensive snapshot of digital trends worldwide, also highlights Kenya’s significant contribution to the platform’s overall traffic. The country is ranked third globally in website traffic to ChatGPT, accounting for 4.81% of all global visits, trailing only the United States and India.

Analysts attribute Kenya’s rapid and widespread adoption of ChatGPT to two primary factors:

  1. A Young, Tech-Savvy Population: With a median age of just 20, Kenya has one of the youngest populations in the world. This demographic is highly digitally native and has been quick to explore and adopt AI tools for a wide range of purposes, including education, business operations, and content creation.
  2. High Mobile Internet Penetration: Over 48% of Kenya’s population uses the internet regularly, with the vast majority accessing it via mobile devices. The accessibility of AI tools like ChatGPT on smartphones has been a critical enabler of its adoption, even in semi-urban and rural areas.

The report’s findings come shortly after OpenAI, the creator of ChatGPT, revealed that the platform now handles over 2.5 billion prompts globally every day. While OpenAI did not provide a breakdown of these prompts by use case, the platform’s popularity for tasks ranging from writing and coding to research and brainstorming is undeniable.

Kenya’s top ranking is a powerful indicator of the country’s dynamic and fast-evolving digital landscape, showcasing an eagerness to embrace cutting-edge technologies and positioning the nation as a key player in the future of AI adoption in Africa.

 


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Yahoo Mail Halts Free Storage Service, Caps at 20GB

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Yahoo Mail has announced a major shift in its storage policy, slashing the free email storage cap to 20GB and rolling out a new subscription model starting at $1.99 per month for 100GB.

The change, which takes effect immediately, marks a significant downgrade for many long-time users who have grown accustomed to Yahoo’s previously generous storage offering.

In a notice sent to users on Tuesday, the company urged account holders to review their current storage usage and consider paid upgrade options to avoid disruptions.

“Once you reach the 20GB limit, you will no longer be able to send or receive emails unless you either delete existing messages or upgrade your account,” the notice warned.

While access to inboxes will remain intact for now, users will be forced to clean up their accounts or move to a paid tier to maintain full functionality.

Yahoo has unveiled two new storage plans which are 100GB for $1.99/month and 1TB for $9.99/month.

For those seeking a more premium experience, Yahoo is also offering Yahoo Mail Plus, which includes 200GB of storage, an ad-free interface, and additional features. However, users opting for the 100GB and 1TB tiers will still be served ads, a move likely to frustrate those paying for expanded capacity.

To ease the transition, Yahoo is rolling out new tools to help users manage their inboxes more efficiently. These include real-time storage tracking, a usage dashboard, sorting options for large emails, and an attachment manager to help clear out space-consuming files.

Despite the enhancements, the abrupt downgrade has sparked concerns among users, particularly those with email archives spanning more than a decade. Critics argue the change could pressure many into paying for what was previously free, without a proportionate upgrade in value, especially considering ads remain in place for all but the premium Plus tier.

Yahoo’s new model brings it closer to competitors like Gmail, which offers 15GB of free storage shared across Gmail, Google Drive, and Google Photos. Google’s paid plans also begin at $1.99/month for 100GB, but offer additional benefits such as photo backups and expanded cloud services. Gmail also provides a cleaner experience, with minimal ads even on its free plan.

Yahoo Mail’s new 20GB limit applies exclusively to email storage, a slight advantage for users who don’t rely heavily on broader cloud services. But the real test will be how users respond to the newly imposed constraints and whether the value proposition is strong enough to convert them into paying subscribers.

 


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