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Twitter Users Vote for Elon Musk to Step Down as CEO

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Twitter users voted for Elon Musk to step down from his role as head of the social platform in a poll the billionaire entrepreneur said he would respect, potentially leaving the company devoid of senior leadership.

About 58% of the 17.5 million votes cast were in favor of Musk stepping back from the leadership role. If Musk heeds the results, it would mark the end of 53 chaotic days at the helm, which has involved dismissing top executives, eliminating roughly half of its employees and spooking advertisers.

Musk, who’s also chief executive officer of Tesla Inc. and Space Exploration Technologies Corp., has dedicated much of his time since acquiring Twitter on Oct. 27 to the social media service, drawing criticism for his abrupt policy changes and neglect of his other businesses. The stock of Tesla, his most valuable holding, has sunk by about a third since the acquisition.

It is not the first time Musk has put major corporate decisions to Twitter users. He recently conducted a poll of his followers on whether to reinstate Donald Trump’s Twitter account, and allowed him back the following day.

There is no clear replacement at Twitter, with almost all of the top rank executives having been fired or resigned over the past few months. Musk added in later tweets that “No one wants the job who can actually keep Twitter alive. There is no successor,” and “and it has been in the fast lane to bankruptcy since May.”

The threat that Twitter might veer into financial difficulties has been constant during Musk’s tenure, who in his first address to employees in November said bankruptcy was a possibility if it doesn’t start generating more cash. The company has almost $13 billion of debt that’s now in the hands of seven Wall Street banks that have been unable to offload it to investors.

Musk was in Qatar to watch the World Cup final match between Argentina and France and tweeted out his poll after the game’s conclusion. The billionaire has been looking for new investors at $54.20 a share, the same price he paid when he took the company private for $44 billion in October.

Saudi prince Alwaleed bin Talal Al Saud is the second largest investor in Twitter behind Musk, while the Qatar Investment Authority invested $375 million in the social media platform.

Musk originally agreed to acquire Twitter in April but then spent months trying unsuccessfully to get out of the deal. After taking the top role, he indicated that he’d only be in charge of Twitter for a limited time to complete the organizational overhaul he thought it needed to prosper, and complained of having “too much work” and sleeping at Twitter’s San Francisco office while enforcing his radical changes.

Tesla shares gained 4.8% in US premarket trading on Monday. Shares in the carmaker have slumped 57% this year amid concerns the chaotic takeover of Twitter has distracted Musk from the firm that propelled him to the richest person in the world — a title he lost last week to luxury titan Bernard Arnault.

 

Source: Bloomberg


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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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MobileCoreX Taps Wireless Technology Labs in Multi-Million Dollar Deal to Build New Mobile Core Network across Nigeria

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Wireless Technology Labs (WTL) today announced that it has been chosen by MobileCoreX Ltd (MCX), Nigeria’s premier Mobile Virtual Network Enabler (MVNE), to spearhead the development of the country’s first mobile virtual network in a landmark deal valued at millions of US dollars over the next three years. 

This initiative aims to enhance mobile connectivity for Nigeria’s 220+ million residents, addressing the current challenges of low broadband penetration and poor quality of service.

Nigeria’s telecom sector is predominantly dominated by four major operators—MTN, Airtel, Globacom, and 9Mobile – with only 29% of Nigerian’s 220+m population regularly accessing the mobile internet, (GSMA figures) due to poor coverage and a variety of other issues.

In Q2 of 2023, the Nigerian Communications Commission (NCC) adopted a new strategy to boost coverage and adoption, it issued 43 Mobile Virtual Network Operator (MVNO) licenses to amplify service coverage, particularly in unserved and underserved regions.

Amongst the licensee’s was MCX which obtained a tier 4 MVNE license aimed at constructing new mobile network infrastructure to provide capacity for emerging MVNOs as a platform as a service.

“Coverage, poor quality of service, costs and inflexible value propositions in Nigeria have persisted for too long.

“We are committed to leveraging innovative technology to create more competitive networks that reduce costs for consumers and provides value propositions that suite that needs,” stated Mr. Habib Ahmed, CEO of MCX.

He emphasized WTL’s pivotal role in delivering the carrier-grade core systems required for a comprehensive suite of mobile services, encompassing voice, data, and value-added features to meet the diverse needs of MVNO clients.

WTL, headquartered in Belgium, with over 20 years of experience, has been active in Nigeria and across Africa, working with operators of all sizes to rollout both urban and rural networks, work which has garnered it widespread recognition and industry awards.

The company has already partnered with two of the 43 new MVNOs licensed by the NCC, showcasing its commitment to enhancing telecom infrastructure in the region.

Mr. Satya Mekala, CEO of WTL “This partnership is about empowering a new entrant to make significant impact in the telecom market.

“We are committed to supporting MCX in its journey from a newcomer to a major player in the industry.

“Our advanced Core systems will ensure that MCX can offer reliable, scalable, and innovative mobile services from day one”.

As the telecom industry in Nigeria undergoes transformative changes, this collaboration signals a promising future for mobile connectivity and digital adoption in the country.

WTL will be showcasing its capabilities at upcoming events including MVNO Nation 2024 in Valencia, 6-8 November and The Africa Tech Festival in Cape Town, 12-14 November, further reinforcing its commitment to driving digital adoption across the continent and the globe.

To learn more about how WTL can help with the rollout of MVNO/E urban and rural networks in Africa, please email [email protected]


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Edo State Launches Data Centre in Benin

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Governor Godwin Obaseki of Edo has said that reforms by his administration in the digital and technology space over the last eight years have revolutionised the state.

The Governor who stated this on Friday at the launch of the Edo State Digital Policy and Edo Data Centre, disclosed that was the first data centre owned by a state in Nigeria.

According to him, his reforms had repositioned Edo as a leading state in digital inclusion in Nigeria, adding that his government was leveraging technology as a catalyst for socio-economic development and inclusive growth.

He said: “I welcome you to the only data center owned by a state in Nigeria. This event is significant because we have started a revolution in Edo State, a digital revolution. We are rounding up with a policy statement that will guide this revolution into the future.

“The population of Edo is scaled towards the youths as they are born in a digital age. The future is digital. It will be difficult to navigate the world today without technology. If you want to develop and grow rapidly, you must begin to think of how to use technology.

“The pace of the advancement of technology in the world today is scary. So, just imagine those who have not started yet; I don’t think they can live in the future world. In Edo, we have always been ahead in our history. We have been a knowledgeable people as we interacted at a global level over 500 years ago on our own level.

“To catch up, we had to do something else and different. That was why from the beginning it was clear to us that we had to introduce technology and make sure that we begin to retrain our young ones, the youths, to own this digital world and the confidence in it.”

Obaseki added: “We have moved Edo into the digital superhighway and to operate on that superhighway, they must know the rules and must be guided by certain rules and practices. That is what we are doing today and incorporating in this policy document. This will enable everybody to understand the shape of this high way and what they need to do on this high way.”

The governor continued: “I had the privilege of working with young people in Edo State and working together, we set up EdoJobs and the Edo Innovate Hub as these have helped our young people and till date, over 50,000 young men and women have benefited from various training and programmes from Edo Innovate. We have been lucky to build a digital ecosystem which has grown rapidly.

“Years ago, as the Chairman of the State’s Economy Team, we set up the ICTA but we struggled all through but we kept it alive, and set up the law governing it. The agency is principally responsible for providing technology for the government.

“I am proud today of what we have done in Edo State which is all-encompassing as no aspect of government in Edo State that has not been digitized or in the process of digitization. All Government jobs have been digitized, and it is not difficult to operate in Edo as files can’t miss again.”

He said: “Technology has made it easy for our children to learn in school through the EdoBEST programme. We have over 400,000 children in our public schools. We have data in all our public schools, teachers, parents and ward of our pupils.

“You can go to any of our primary healthcare centers today without seeing your records, especially if you have registered and with our health insurance. Security, healthcare, agriculture, education and other areas, we have introduced technology.

 


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IHS Nigeria Donates Solar-powered Boreholes to Support Flood Victims in Maiduguri, Borno State

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IHS Nigeria, part of the IHS Holding Limited (NYSE: IHS) (“IHS Towers”) group, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, has announced the donation of four solar-powered boreholes to support victims of recent floods in Maiduguri, Borno State.

The donation, which will be delivered through the United Nations Children’s Fund’s (UNICEF) emergency flood response, will help address the most urgent needs of flood-affected populations in Borno State, especially those displaced following flooding in Maiduguri Metropolitan Council, Jere and Konduga LGAs.

The response by IHS Nigeria and UNICEF will help mitigate the impact of the flood and the risk of waterborne diseases for nearly 20,000 people, including vulnerable groups such as pregnant women and young mothers, children, and patients visiting health centers.

The four solar-powered boreholes donated by IHS Nigeria will be constructed in displaced peoples’ settlements and other temporary displacement sites.

This will include in densely populated areas without access to a safe water source, at schools to help facilitate the early return of children to classes, and at health centers, which are also used as Outpatient Therapeutic Program sites and provide nutrition services and counselling for pregnant women, young mothers, and malnourished children.

Mohamad Darwish, CEO, IHS Nigeria, said, “We empathize with the government and people of Borno State and extend our sympathies to those who lost loved ones and properties in the flood.

“We are aware that as people begin to return to their homes and communities with flood waters receding, they continue to face major risk factors, including damaged and contaminated water sources.

“A key priority for us, which informed our donation of these boreholes, is to help prevent or limit outbreaks of communicable diseases such as cholera, while improving water, sanitation and hygiene (WASH) services for affected populations.

This donation is an extension of our partnership with UNICEF, which since 2021 has supported the provision of WASH facilities to over 6,000 beneficiaries and enabled the delivery of over one million preventive and curative treatments for tropical diseases related to WASH.”

Cristian Munduate, UNICEF Representative in Nigeria, said, “UNICEF is very grateful to IHS Nigeria for their generous donation of solar-powered boreholes, which comes at a critical time for communities affected by recent floods in Borno State.

“This contribution will not only provide essential safe water to thousands, but also protect vulnerable populations, including children, from the threat of waterborne diseases, and support communities as they work to start rebuilding their lives and livelihood.

“Together with IHS Nigeria, we are making significant strides in safeguarding children and families, and strengthening resilience through our shared commitment to water, sanitation and hygiene services in emergencies.”

IHS Nigeria’s long-standing partnership with UNICEF was recently demonstrated by the visit of Kitty van der Heidjen, UNICEF’s Deputy Executive Director, Partnerships, and her team to the company’s Head Office in Lagos.

Kitty van der Heidjen expressed her appreciation for the ongoing partnership with IHS Nigeria in empowering the country’s youth through education and digital connectivity. Under UNICEF’s Generation Unlimited (GenU) Project, designed to improve digital learning in Nigeria, IHS Nigeria has helped provide internet connectivity to 800 educational institutions between 2022 and 2024.

Through a collaborative partnership with UNICEF that began in 2019, IHS Nigeria has invested more than $4 million in various initiatives, including GenU 9ja, COVID-19 interventions, oxygen plant installations, WASH initiatives and school connectivity.

 


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