acquisition

Mali has officially taken control of the Yatela and Morila gold mines—two sites that had previously been left abandoned by their foreign owners, according to a government announcement over the weekend. This significant move reflects a broader trend in West Africa, where military-led governments are increasingly asserting control over strategic natural resources in response to soaring gold prices. The aim? To invigorate local economies and lessen reliance on foreign entities. Gold is not just a shiny metal; it represents…

A transformative shift is underway in Nigeria’s downstream logistics, promising to enhance distribution efficiency while significantly reducing transportation costs. This development is more than just a logistical upgrade; it represents a holistic approach towards a more sustainable and economical fuel distribution system within the country. As part of this strategic initiative, the new Compressed Natural Gas (CNG) fleet, which will be operational from August 15, 2025, has been acquired through the Dangote…

Recently, the *Competition Authority of Kenya (CAK)* granted its approval for Moniepoint to acquire a substantial 78% stake in Sumac Microfinance Bank, based in Nairobi. While the regulatory green light is a significant milestone, it's important to recognize that the conclusion of this deal remains pending. In a recent statement to Techpoint Africa, Moniepoint conveyed that they have received the necessary regulatory approval from the CAK for the potential partnership with Sumac. The company…

Somalia: Northeastern State Acquires Combat Aircraft for the First Time in Anti-Terror Campaign Garowe, Somalia – In a move that's both strategic and groundbreaking, Northeastern State has taken a formidable leap in its ongoing battle against terrorism. For the first time, this northeastern Federal State of Somalia has secured four combat aircraft from a foreign nation whose identity remains under wraps. This bold acquisition marks a pivotal advancement in Northeastern State's efforts to bolster its defenses and mitigate…

DeepSeek Report: A Serious National Security Concern On a day filled with both intrigue and concern, the House of Representatives unveiled a damning report that has the potential to reshape the landscape of technology and national security. This report claims that DeepSeek, a prominent artificial intelligence company, is covertly funneling American user data to the Chinese Communist Party (CCP). More alarmingly, it's alleged that the company is manipulating information in ways that align seamlessly with…

Elon Musk has announced that his artificial intelligence startup, xAI, is acquiring his social networking platform, X, in a deal that values the company, formerly known as Twitter, at an impressive $33 billion. In a recent post on X, Musk shared, "This combination will unlock immense potential by blending xAI's advanced AI capability and expertise with X's massive reach." With more than 600 million users, the future of X is described as "intertwined" with xAI, which was launched two years ago. “Today, we officially take…

In a recent conversation, U.S. President Donald Trump conveyed to Ukrainian President Volodymyr Zelensky that the United States could potentially take ownership and management of Ukraine's nuclear power plants. This proposition forms part of his latest efforts to secure a ceasefire amid Russia's ongoing invasion. The offer coincides with discussions involving military leaders from approximately 30 nations, all eager to contribute to a protective ceasefire between Russia and Ukraine. These discussions are set to take place…

Renaissance: A New Chapter in Nigeria's Energy Sector The energy landscape in Nigeria is shifting dramatically, with Renaissance standing at the forefront of this transformation. A partnership forged among Aradel Holdings PLC and three other prominent Nigerian enterprises—each carved from the oil-rich terrains of the Niger Delta—constitutes Renaissance. This coalition includes ND Western Limited, FIRST Exploration and Petroleum Development Company Limited, and the Waltersmith Group, complemented by Petrolin, a globally…

US President Donald Trump recently expressed his engagement in discussions about potentially acquiring the popular social media platform, TikTok. He hinted that a significant announcement regarding the app’s fate could arrive within the next month. While on a journey to Florida aboard Air Force One, he stated, “I’ve had conversations with a multitude of individuals about TikTok, and the interest is truly vast.” This comment reflected the administration's growing focus on the app, which has become a cultural phenomenon.…

President Joseph Boakai has officially accepted the resignation of Commerce Minister Amin Modad. This decision came in the wake of significant public backlash regarding Modad's acquisition of a vehicle that surpassed the established price ceiling. "His actions demonstrate a serious lapse in judgment and an insensitivity to the prevailing economic circumstances in our nation," Boakai remarked, emphasizing the need for accountability in leadership. The former Minister of Commerce defended his choice, explaining that the…