Editorial’s Weekly Choice:The previous week (July 22 to July 26, 2024) was quite eventful in the world of news. The Fourth Estate, as usual, made and received calls, sent and received emails, and pursued leads in the quest for truth. What matters most in this process is obtaining accurate information and presenting it to readers in a way that empowers them to make informed decisions. Whether the decision is personal, technical, or business-related, it should be based on core, accurate, and factual information. Here are IT News Africa’s top 5 headlines from the previous week that focused on these core elements in the IT Sector in Africa and Internationally:Tech and energyhttps://www.itnewsafrica.com/2024/07/solar-energy-at-r1-00-kwh-electricity-to-increase-to-r4-kwh/Online and Olympics2. https://www.itnewsafrica.com/2024/07/4-free-websites-to-stream-the-olympics-catch-every-moment/Tech and gadgets3. https://www.itnewsafrica.com/2024/07/significant-price-hike-for-apple-services-in-south-africa/Technology and health4. https://www.itnewsafrica.com/2024/07/dsi-prioritizes-technology-health-energy-and-innovation/Online, international software update failure5. https://www.itnewsafrica.com/2024/07/notice-malware-attacks-exploit-crowdstrike-software-failure/

SEOUL, South Korea (AP) — More than 5,000 people isolated by flooding in northwestern North Korea were rescued by airlift and other evacuation work after heavy summer rains caused a river on the Chinese border to swell, state media reported Monday. The official Korean Central News Agency did not mention any deaths or how much damage the flooding on Saturday caused. Summer floods in North Korea often cause serious damage to farmlands due to poor drainage, deforestation and dilapidated infrastructure. KCNA credited leader Kim Jong Un with overseeing the rescue operation on Sunday, likely aiming to portray him as an able leader handling a disaster and caring about the public’s well-being. Kim scolded officials for failing to prepare for floods despite his orders to prevent flood damage, KCNA said, in a possible effort to shift blame while North Korea struggles with economic difficulties.

Vital Energy, in partnership with Northern Oil and Gas (NOG), signed an agreement to acquire Point Energy’s assets in an all-cash transaction for a total consideration of US $1.1 billion. Under the terms of the agreement, the two companies will acquire Point Energy’s assets in an all-cash transaction for total consideration of $1.1 billion. Vital Energy agreed to acquire 80% of Point’s assets, with NOG acquiring the remaining 20%. Closing price adjustments are expected to total approximately $75 million, reducing total consideration to approximately $1.025 billion. Vital Energy expects to fund its $820 million portion, net of expected purchase price adjustments, using its credit facility, which was recently expanded to $1.5 billion.

These figures meant African tech saw a reset of sorts, as the global capital shortage began to bite. Wim van der Beek, founder and managing partner at Goodwell Investments, says there has been a fundamental change in the availability of liquidity taking place over the last few years. “Africa itself has been going through tough times and the African markets have not been able to show sufficient returns for those global capital allocators. And that is something that will help this ecosystem once things go up again,” van der Beek said. van der Beek agrees things seem to be improving.

Rough sea swells have battered the Panama-flagged general cargo vessel since it drifted onto a sand bank three weeks ago close to Doring Bay, some 300 km (186 miles) north of Cape Town, after the ship’s crew abandoned the vessel when it started taking on water. “Salvage operations are continuing and more equipment is being mobilized to contain the oil spill,” said Tebogo Ramatjie, spokesperson for the South African Maritime Safety Authority (SAMSA).

The International Judo Federation said Dris arrived for the weight control session on Sunday 10 minutes before the deadline and was found to be 400 grams over the allowed weight limit to compete on Monday. The head of Israel’s Olympic Committee Yael Arad branded it a “disgrace” and called for the North African delegation to be punished. Algerian media and the delegation sponsor hailed Dris.

Ankara has launched plans to boost the appeal of several high added value sectors in a bid to almost double its share of global foreign direct investment (FDI). Turkey’s 2024–2028 strategy, which was launched on July 29, outlines plans for the country to raise its global share of FDI to 1.5% by 2028, up from a 3-year moving average of 0.85% in 2023, according to fDi’s calculation based on Unctad figures. The country’s FDI skyrocketed in the 2006–2008 period, when it accounted for as much as 1.3% of global FDI, Unctad figures show. The new investment strategy emphasises the role of quality FDI in raising the country’s investment profile and serving the overarching economic policy objectives. Over the five-year period to 2028, Turkey will target a total of 120 projects in climate FDI, 240 projects in digital FDI, 360 projects in global value chain-related FDI, 270 projects in high-end services FDI, 360 projects generating high-quality jobs, and 300 projects in knowledge-intensive FDI.

Jakarta (ANTARA) - Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, is targeting to make Africa a market for electric vehicle (EV) batteries to expand Indonesia's EV industry. "The population of Africa will double by 2045. "We will be happy to build collaboration with them, especially Kenya and South Africa," he added.According to the minister, Indonesia has already established various collaborations with countries in Africa. One such collaboration has been forged between state-owned oil and gas company Pertamina and Kenya. "Pertamina and (Indonesia's state-run electricity company) PLN's (cooperation) in South Africa has also been carried out.

Italian ferry company Grandi Navi Veloci (GNV) has inaugurated this week a new bureau in Nador, its second in Morocco after that of Tangiers. This expansion in the North African kingdom falls in the frame of the Marhaba 2024 operation, meant to facilitate Moroccan expatriates’ journey for holidaying in their mother country. The new facility enables the company to welcome its passengers and clients in a more spacious, modern, and functional environment,” GNV said in a press release, circulated by Italian media outlet Shipping Italy. This initiative translates GNV’s commitment towards Morocco and Moroccan expatriâtes and consolidates thus its key role in maritime exchanges between Morocco and Italy. Morocco is GNV’s largest international market, with over 450,000 passengers who boarded their ships through the Tangier terminal in 2023.

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by TINTSWALO BALOYIExecutive EditorJOHANNESBURG, (CAJ News) – HOW a legally-registered facility, operated by an accredited security training service provider, has ended up being an illegal military training base for undocumented Libyans is a source of mystery and panic in South Africa. Such does not bode well for South Africa, already suffering a reputation as having some of the most violent crimes globally. Military training equipment, including licensed firearms, were also found. One is Abubakar Swalleh, described by the US as a “South Africa- and Zambia-based” ISIS operative allegedly involved in the physical transfer of funds from South Africa to the DRC. Additionally, Swalleh reportedly facilitated the movement of ISIS-affiliated individuals from Uganda to South Africa, and vice versa.

Ten scale-ups from Africa and the Middle East have been selected to take part in the inaugural “Accelerate with Djembe” programme, which will help startups raise funds by boosting their communications abilities. Accelerate with Djembe is a communications-focused accelerator programme for scale-ups in Africa and the Middle East, which supports the selected scale-ups’ efforts to raise funds by providing access to communications insight and advisory services. After a selection process led by Djembe CEO Mitchell Prather, 10 scale-ups across various sectors, including education, energy, environmental services, healthcare, manufacturing, and transportation, have been selected to take part. Furthermore, additional outside industry experts will support the further development of the inaugural cohort group, ensuring they are investment-ready with a powerful growth story. “The Djembe Consultants team was impressed with the quality of scale-ups who applied during the two months-long application process.

The two dams outside the city of Derna broke up on Sept. 11 after they were overwhelmed by Storm Daniel, which caused heavy rain across eastern Libya. The failure of the structures inundated as much as a quarter of the city, officials have said, destroying entire neighborhoods and sweeping people out to sea. The Derna Criminal Court on Sunday convicted 12 current and former officials of mismanagement, negligence and mistakes that contributed to the disaster, according to a statement from the office of the country's top prosecutor. The defendants, who were responsible for managing the country's dams, were given prison terms that ranged from nine to 27 years, the statement said, without identifying them. Sunday's verdict could be appealed before a higher court, according to Libya's judicial system.

The agricultural sector in African countries presents a key market for Uzbek fertilisers and machinery. Egypt and South Africa, as technologically advanced economies in Africa, offer diversified trade opportunities for Uzbekistan’s industrial and agricultural products. Context AnalysisThe varying economic development across African countries, many of which are members of the World Trade Organisation (WTO) and the African Continental Free Trade Area (AfCFTA), facilitates trade agreements and business partnerships. With diverse resources ranging from oil and gas in Algeria and Nigeria to minerals and diamonds in Namibia and Botswana, African countries present a lucrative market for Uzbek mining equipment. Conclusion/Recommendations for InvestorsFor investors, the burgeoning economic cooperation between Uzbekistan and African countries presents diverse opportunities.

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