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



Disney’s sports broadcasting network ESPN could be valued at about $24 billion, according to a Bank of America analyst note, which said potential investment suitors like Amazon, Apple and Verizon could help manage Disney’s push to transition from linear TV toward streaming.



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



Disney intends to keep ESPN and has reportedly been on the hunt to find partners for a full streaming service of the sports network, according to&nbsp;<a href="https://www.theinformation.com/articles/amazon-in-talks-with-disney-about-espn-streaming-partnership" target="_blank" rel="noreferrer noopener">multiple</a>&nbsp;<a href="https://www.cnbc.com/2023/08/10/disney-wants-sports-leagues-as-espn-partners-but-its-not-clear-they-want-espn.html" target="_blank" rel="noreferrer noopener">sources</a>, as marquee products like Monday Night Football are not aired on the existing ESPN+ streaming platform.



Disney—which owns 80% of ESPN, while Hearst holds the remaining 20%—could sell stake in the company to new investors assuming it intends to maintain majority ownership, according to the note.



The note added a partnership deal between Disney and another company could help Disney bridge the gap to a streaming version of ESPN, bring a capital infusion that could bolster ESPN’s offerings and give Disney a chance to spin off ESPN in the future.



On top of potential tech company suitors, Bank of America added leagues like the National Football League and National Basketball Association could be potential investment partners, in addition to distribution firms like Verizon.



The note said ESPN needs to transition to a direct-to-consumer model to compensate for an environment in which linear TV subscribers are declining.



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



$2.9 billion. That’s how much profit ESPN generated for Disney&#8217;s fiscal year 2022, almost $1 billion more than the profit raked in by Disney&#8217;s entertainment business in that same window,&nbsp;<a href="https://www.axios.com/2023/10/19/disney-reveals-espn-business-size-first-time" target="_blank" rel="noreferrer noopener">Axios</a>&nbsp;reported.



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



A potential ESPN streaming service would come as tech giants like Google and Amazon push into sports broadcasting. Amazon spends about&nbsp;<a href="https://www.cnbc.com/2021/03/18/nfl-media-rights-deal-2023-2033-amazon-gets-exclusive-thursday-night.html" target="_blank" rel="noreferrer noopener">$1 billion a year</a>&nbsp;to maintain an 11-year media rights deal with the NFL to air Thursday Night Football on its streaming service—while YouTube, which is owned by Google, agreed to a seven-year contract with the NFL last year worth&nbsp;<a href="https://apnews.com/article/nfl-sunday-ticket-youtube-6253c4eee5c2f8c9b0f9fe191217e543" target="_blank" rel="noreferrer noopener">more than $2 billion</a>&nbsp;per season for the rights to NFL Sunday Ticket, which gives subscribers access to all out-of-market broadcasts. As sports rights deals have become more prevalent, so too have cord-cutting tendencies among consumers. Television providers experienced record subscriber losses in the first quarter of this year, losing 2.3 million customers, according to&nbsp;<a href="https://variety.com/2023/tv/news/cord-cutting-all-time-high-q1-2023-pay-tv-losses-1235610939/" target="_blank" rel="noreferrer noopener">Variety</a>, citing MoffettNathanson research. The total pay-TV penetration of occupied households in the U.S. also dropped to 58.5% during the period, a figure not seen since 1992,&nbsp;Variety&nbsp;added.



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



<a href="https://www.forbes.com/sites/antoniopequenoiv/2023/05/15/nfl-adding-peacock-only-playoff-game-in-first-of-its-kind-streaming-deal/?sh=8f38ffd4cad6">NFL Adding Peacock-Only Playoff Game In First-Of-Its-Kind Streaming Deal</a>&nbsp;(Forbes)



<a href="https://www.theinformation.com/articles/amazon-in-talks-with-disney-about-espn-streaming-partnership" target="_blank" rel="noreferrer noopener">Amazon in Talks With Disney About ESPN Streaming Partnership</a> (The Information)

New York Yankees v Baltimore Orioles

ESPN Could Be Worth $24 Billion And Attract Investments From Tech Giants, Report Says

Eco-luxury brand RAW Beauty draws its inspiration from the transitional nature of the African Sahel. Founder Ruqayya Tofa-Basheer says her own personal skin challenges led her to this line of work.   



Clean beauty is on the rise. According to researchandmarkets.com, the worldwide clean beauty industry is expected to reach $14.36 billion by 2028. Defined as beauty products that are non-toxic and free of harmful ingredients, clean beauty has gained popularity, especially with Gen Z and millennials. A January 2023 article by The New York Times stated that ‘clean beauty’ had “5.6 million hashtag views on Instagram and 1.2 billion on TikTok”.



For beauty entrepreneur Ruqayya Tofa-Basheer, clean beauty offered a lifesaving solution for her and her daughter’s skin problems, and that led to the creation of one of her luxury botanical, clean beauty brands. RAW Beauty Africa focuses on sourcing and using African ingredients as its base for products.



“We use plants like moringa, baobab, hibiscus, and we use water melon seed oil, pumpkin seed oil and extracts from different plants in Africa that have high anti-oxidants and anti-inflammatory properties. We started with body products but now, we deal with face products for acne, and hyperpigmentation also came into play where a lot of people had scars from eczema that they couldn’t get rid of easily,” says Tofa-Basheer.



Her original career dream was architecture. After studying at the University of East London’s School of Architecture, Computing and Engineering, Tofa-Basheer worked with Barron and Smith Architects in Islington, London, from 2005 to 2007, before returning to Nigeria.



Over the years, she had been plagued with a skin condition which proved too difficult to handle.



“Going into beauty was really about my own personal journey with my skin. Having suffered from eczema as a baby, I had a very bad skin condition. I remember in boarding school, I was really not confident at all. During summertime, we were all going for a swim and I wanted to get out of that because I used to have a lot of boils on my body, especially during the rainy season,” Tofa-Basheer recalls.



“I remember my parents taking me to different dermatologists and I never really got a product that worked for me. When I was 19, I came across an aesthetician and she prescribed something that was way too harsh because I had sensitive skin as well, and it ended up really drying up my skin. That is really when I started trying to educate myself about clean ingredients and clean beauty.”



During her first pregnancy, Tofa-Basheer decided to take a beauty and skincare course in hopes of creating her own solution for her skin. However, it was after her pregnancy that her eureka moment happened.



“When I gave birth to my daughter, I found out she had the same skin condition as me. And I sought out companies in the US to help… I was like with all the courses I have done, I need to just order products and get to work. And that is when I created my skin butter and literally, within a week, her skin cleared,” she adds.



And Tofa-Basheer has never looked back. She started researching about the healing properties of local plants as well as different oils and began mixing clean concoctions in her kitchen before expanding to a factory in Kano and, most recently, another location in Abuja.



The brand has experienced organic growth for the past two years with its unique luxury packaging as well as brand proposition which seeks to also educate its customers about the negative impact of skin bleaching, amongst others.



For African beauty entrepreneurs that would like to tap into this billion-dollar clean beauty industry, Tofa-Basheer believes the focus should be on looking inwards first.



“Try to spread out and delve more into our natural plant resources and don’t get pigeonholed into just using shea oil and coconut oil but rather spread out and use research to process and manufacture ingredients, rather than just making products,” she says.



“Look locally for your solutions and try to solve a problem that is personal to you and your community.”

Green Modern Split Screen Tutorial YouTube Thumbnail (8)

The Nigerian Beauty Entrepreneur With A Clean Business Idea

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



The Israel Defense Forces admitted to striking the Jabalia refugee camp in northern Gaza—an attack that Hamas said killed dozens and injured hundreds—and said it killed a senior Hamas commander in the attack.



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



A spokesperson for Israel said the IDF killed a Hamas commander who oversaw fighting in northern Gaza, and that Israeli forces killed&nbsp;<a href="https://twitter.com/IDF/status/1719424225751027715" target="_blank" rel="noreferrer noopener">around 50 Hamas fighters</a>&nbsp;and damaged a Hamas command center.



Hamas has denied that any leadership was at the refugee camp at the time of the attack, NBC News&nbsp;<a href="https://www.nbcnews.com/news/world/live-blog/israel-hamas-war-live-updates-rcna122919#rcrd23975" target="_blank" rel="noreferrer noopener">reported</a>.



The Hamas-run Health Ministry in Gaza&nbsp;<a href="https://www.aljazeera.com/news/2023/10/31/dozens-killed-in-israeli-air-attack-on-gaza-refugee-camp-medical-official" target="_blank" rel="noreferrer noopener">told</a>&nbsp;Al Jazeera that more than 50 people were killed and many others were hurt in the strike, and the director of Gaza’s Indonesian hospital, Dr. Atef al-Kahlout,&nbsp;<a href="https://www.cnn.com/middleeast/live-news/israel-hamas-war-gaza-news-10-31-23/index.html" target="_blank" rel="noreferrer noopener">told</a>&nbsp;CNN that “hundreds” of people came in dead or injured and said there were still people in the rubble.



Photos of the aftermath of the attack show massive holes in the ground, and eyewitnesses said there were “body parts all over the place,” CNN&nbsp;<a href="https://www.cnn.com/2023/10/31/middleeast/jabalya-blast-gaza-intl/index.html" target="_blank" rel="noreferrer noopener">reported</a>.



The Jabalia refugee camp, the area hit by the Israeli strike, is the largest of the eight refugee camps in Gaza and has held refugees since the 1948 Arab-Israeli War.



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



116,011. That’s how many Palestinian refugees were&nbsp;<a href="https://www.unrwa.org/where-we-work/gaza-strip/jabalia-camp" target="_blank" rel="noreferrer noopener">registered</a>&nbsp;with the United Nations and living in the camp, though the total population of the camp was likely higher. Many refugees in the camp were living in “substandard conditions,” according to the UN, which said the camp is characterized by “overcrowding and a lack of living space.”



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



A statement&nbsp;<a href="https://twitter.com/pmofa/status/1719372014211768685" target="_blank" rel="noreferrer noopener">posted</a>&nbsp;to the X, formerly known as Twitter, account of the Gaza Ministry of Foreign Affairs and Expatriates said it “strongly condemns the recent massacre committed by the occupation against our people in the #Jabalia camp just a while ago. This resulted in the destruction of an entire densely populated residential area, over their heads.” The post estimated that 400 people were killed or wounded.



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



The strike came as Israel is facing calls for a ceasefire to allow for humanitarian aid, though Israeli Prime Minister Benjamin Netanyahu has said there won’t be a ceasefire. He has said calls for a ceasefire are calls “to surrender to terrorism,”&nbsp;<a href="https://www.nytimes.com/2023/10/30/world/middleeast/netanyahu-israel-hamas-cease-fire.html#:~:text=Calls%20for%20a%20cease%2Dfire%20are%20calls%20for%20Israel%20to,Israel's%20fight%20is%20your%20fight." target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the&nbsp;New York Times, and has continued to vow to destroy Hamas. Philippe Lazzarini, commissioner general of the UN Relief and Works Agency, said Monday that “an immediate humanitarian ceasefire has become a matter of life and death for millions,” CNN&nbsp;<a href="https://www.cnn.com/2023/10/31/middleeast/israel-gaza-hamas-war-tuesday-intl-hnk/index.html" target="_blank" rel="noreferrer noopener">reported</a>. Since the October 7 attack by Hamas on Israel, the Hamas-run Healthy Ministry in Gaza&nbsp;<a href="https://apnews.com/article/israel-palestinians-hamas-gaza-war-news-10-31-2023-54ab6bd7f6861be86266770c245827e1" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;that more than 8,000 Palestinians have been killed, adding that most have been children or minors. The Israeli death toll is around 1,400, almost entirely from the initial attack, while hundreds of hostages were taken from Israel to the Gaza Strip, the Associated Press&nbsp;<a href="https://apnews.com/article/israel-palestinians-hamas-gaza-war-news-10-31-2023-54ab6bd7f6861be86266770c245827e1" target="_blank" rel="noreferrer noopener">reported</a>.

Israeli attack on residential square in Jabalia refugee camp

Israel Admits Striking Refugee Camp—Says It Targeted And Killed Hamas Commander

Female writing new ideas on sticky note

Accelerating Startup Growth: Nigeria’s Incubators

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



Social media company X internally valued itself at $19 billion as of Monday,&nbsp;<a href="https://fortune.com/2023/10/30/x-formerly-twitter-valued-19-billion-employee-stock-plan/" target="_blank" rel="noreferrer noopener">multiple</a>&nbsp;<a href="https://www.nytimes.com/2023/10/30/technology/x-twitter-19-billion-dollars.html" target="_blank" rel="noreferrer noopener">news</a>&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-10-30/musk-s-x-valued-at-less-than-half-of-price-he-paid-for-twitter?utm_medium=social&amp;utm_source=twitter&amp;utm_content=business&amp;sref=xuVirdpv" target="_blank" rel="noreferrer noopener">organizations</a>&nbsp;reported, a 55% drop from what Elon Musk paid for the company last October—following a year of sweeping change and revenue struggles at the company formerly known as Twitter.



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



The company handed out stock grants to employees that showed X was worth about $19 billion, according to the&nbsp;<a href="https://www.nytimes.com/2023/10/30/technology/x-twitter-19-billion-dollars.html" target="_blank" rel="noreferrer noopener">New York Times</a>, citing internal documents.



Musk purchased the majority of Twitter in October 2022 in a deal valued at $44 billion.



Employees were offered equity in the social media company at $45 a share in the form of restricted stock units, but they will still receive $54.20 for any outstanding shares granted to them before Musk took over the company, according to the&nbsp;Times.



Musk paid $54.20 a share to take the company private in 2022.



This latest valuation is somewhat higher than the&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2023/10/27/year-of-musk-x-faces-slashed-valuation-and-fewer-advertisers-one-year-after-twitter-takeover/?sh=517715b65510">$16.9 billion</a>&nbsp;that Fidelity—which has a small stake in X—valued the company at in late August.



Forbes&nbsp;has reached out to X for comment.



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



Since he purchased the social media platform, Musk has repeatedly said he overpaid for it. Even before the acquisition was finalized, Musk&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2022/10/20/tesla-shares-drop-in-pre-market-after-missed-q3-earnings/?sh=4edbdddc6064">said</a>&nbsp;in an October 2022 Tesla earnings call (Musk is also CEO of the electric carmaker) he was “obviously overpaying for Twitter right now,” though he believed the company’s long term potential was “an order of magnitude greater than its current value.” The billionaire&nbsp;<a href="https://www.forbes.com/sites/nicholasreimann/2022/07/08/elon-musk-terminating-deal-to-buy-twitter-platform-plans-legal-action/?sh=411843c52e21">tried to call off</a>&nbsp;an agreement to buy Twitter at $54.20 a share last year, citing concerns about the number of fake accounts, but Twitter&nbsp;<a href="https://www.forbes.com/sites/joewalsh/2022/07/12/twitter-sues-elon-musk-for-trying-to-cancel-acquisition-deal/?sh=6aa832513d38">sued him</a>&nbsp;and asked a judge to force him to follow through, and he eventually closed the deal in October 2022. In April, during an interview with conservative media personality Tucker Carlson, he&nbsp;<a href="https://www.forbes.com/sites/nicholasreimann/2023/04/17/musk-admits-twitter-purchase-wasnt-financially-smart-and-he-paid-twice-what-its-worth/?sh=5767b0c265c6">admitted</a>&nbsp;the purchase was not currently “financially smart” and said the company was worth about half of what he paid for it. In a March internal memo that&nbsp;<a href="https://www.theguardian.com/technology/2023/mar/26/elon-musk-twitter-value-leaked-memo-less-than-half-paid#:~:text=Twitter%20is%20worth%20less%20than,at%20less%20than%20%2420bn." target="_blank" rel="noreferrer noopener">was leaked</a>&nbsp;to the press, Musk suggested the company was worth less than $20 billion.



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



We estimate Musk’s net worth at&nbsp;<a href="https://www.forbes.com/real-time-billionaires/#6631d4d33d78">$214.8 billion</a>, making him the wealthiest person on earth, mostly due to his stakes in Tesla and SpaceX.



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



Since acquiring and taking control of Twitter, Musk has made a series of polarizing decisions including&nbsp;<a href="https://www.forbes.com/sites/brianbushard/2023/07/23/elon-musk-directs-xcom-to-twitter-plans-to-ditch-twitter-bird/?sh=22703c4f4542">renaming</a>&nbsp;the platform to X, loosening the site’s content moderation rules,&nbsp;<a href="https://www.forbes.com/sites/nicholasreimann/2022/11/01/twitter-will-sell-coveted-blue-checkmark-for-8-a-month-musk-says-but-benefits-still-unclear/?sh=6fa15be85ac2">charging users</a>&nbsp;to get verification check marks and&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2023/07/01/elon-musk-announces-temporary-reading-limit-for-unverified-twitter-accounts-amid-outage/?sh=23b1f90475fa">temporarily limiting</a>&nbsp;the amount of posts a user can view or the amount of direct messages a user can send. In September, Musk&nbsp;<a href="https://www.forbes.com/sites/willskipworth/2023/09/04/musk-blames-anti-defamation-league-for-xs-poor-ad-sales-threatens-lawsuit/?sh=1b06f746a00e">revealed</a>&nbsp;that ad revenue was down 60% since his acquisition. Additionally, nonprofits like the Anti-Defamation League have reported a rise in hate speech, racism and harassment on the platform. Musk responded by&nbsp;<a href="https://www.forbes.com/sites/willskipworth/2023/09/04/musk-blames-anti-defamation-league-for-xs-poor-ad-sales-threatens-lawsuit/?sh=1b06f746a00e">threatening</a>&nbsp;to sue the organization. The company has also been embroiled in a number of legal challenges under Musk, both as plaintiff and defendant. X has faced lawsuits over allegations it has&nbsp;<a href="https://www.forbes.com/sites/willskipworth/2023/07/12/twitter-and-elon-musk-face-500-million-lawsuit-for-allegedly-reusing-severance-for-fired-employees/?sh=256d21d31d91">refused to pay</a>&nbsp;its employees promised severance, that it’s&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2023/07/03/twitter-faces-lawsuit-over-unpaid-office-fees-again/?sh=10cee9462613">refused to pay</a>&nbsp;its rent and office fees and that it&nbsp;<a href="https://storage.courtlistener.com/recap/gov.uscourts.nhd.60380/gov.uscourts.nhd.60380.1.0.pdf" target="_blank" rel="noreferrer noopener">breached a contract</a>&nbsp;it made with a regional jet company. As a plaintiff, X has sued the nonprofit Center for Countering Digital Hate, claiming that the organization violated X’s terms of service by collecting data for an analysis it did into hate speech on X.



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



<a href="https://www.forbes.com/sites/antoniopequenoiv/2023/10/27/year-of-musk-x-faces-slashed-valuation-and-fewer-advertisers-one-year-after-twitter-takeover/?sh=492ed0f55105">Year Of Musk: X Faces Slashed Valuation And Fewer Advertisers One Year After Twitter Takeover</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/nicholasreimann/2023/04/17/musk-admits-twitter-purchase-wasnt-financially-smart-and-he-paid-twice-what-its-worth/?sh=5767b0c265c6">Musk Admits Twitter Purchase Wasn’t ‘Financially Smart’—And He Paid Twice What It&#8217;s Worth</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/willskipworth/2023/09/04/musk-blames-anti-defamation-league-for-xs-poor-ad-sales-threatens-lawsuit/?sh=1b06f746a00e">Musk Blames Anti-Defamation League For X’s Poor Ad Sales, Threatens Lawsuit</a>&nbsp;(Forbes)



<a href="https://www.nytimes.com/2023/10/30/technology/x-twitter-19-billion-dollars.html" target="_blank" rel="noreferrer noopener">X Says It Is Worth $19 Billion, Down From $44 Billion Last Year</a>&nbsp;(New York Times)



<a href="https://fortune.com/2023/10/30/x-formerly-twitter-valued-19-billion-employee-stock-plan/" target="_blank" rel="noreferrer noopener">X, formerly Twitter, valued at $19 billion in new employee stock plan</a>&nbsp;(Fortune)



<a href="https://www.bloomberg.com/news/articles/2023-10-30/musk-s-x-valued-at-less-than-half-of-price-he-paid-for-twitter?utm_medium=social&amp;utm_source=twitter&amp;utm_content=business&amp;sref=xuVirdpv" target="_blank" rel="noreferrer noopener">Elon Musk’s X Is Worth Less Than Half of Price He Paid for Twitter</a> (Bloomberg)

Twitter logo

X Says It’s Worth Less Than Half What Elon Musk Paid

In an address to the nation, Cyril Ramaphosa announced that in celebration of an electrifying win by the country’s national rugby team at the Rugby World Cup, there would be an extra public holiday in December.



Following Saturday’s exhilarating Rugby World Cup final match between the Springboks and New Zealand’s All Blacks in France, South Africa waited with baited breath as to how the country would be celebrating the 12-11 win.



“South Africans watched with pride and joy as our national rugby team, the Springboks, became the world champions for the fourth time since the advent of democracy in our country,” President Cyril Ramaphosa said on Monday.



“I know that many of us want us to have a holiday now to celebrate.”



He also commended the Proteas who are currently “performing well” at the Cricket World Cup in India, with the president noting that he intends to travel to Mumbai to watch the team in the finals.



Furthermore, Ramaphosa celebrated the performance of Banyana Banyana, the South African women&#8217;s national soccer team, in the Women’s Africa Cup of Nations and their progress to the knockout stages of the FIFA Women’s World Cup.



In celebration of the Springboks’ momentous achievement and the achievements of the country’s sports men and women – and as a tribute to the resolve of the nation – Ramaphosa announced in his address, “I am declaring Friday the 15th of December 2023 as a public holiday. We declare this to be a day of hope, a day of celebration and unity.”



“As a people, we have shown before what is possible when we are united, when we are determined, when we try hard and when we refuse to give up,” Ramaphosa said.



“Together, we overcame apartheid, ended centuries of conflict and gave birth to a thriving democracy. Together, we confronted and overcame the deadliest global pandemic in over a century. We are indeed stronger together. Our sports men and women have shown us what is possible. We will succeed and we will ensure that we leave no-one behind.”



After leading his team to victory, captain Siya Kolisi said in a press conference: “I don’t think that people who aren’t from South Africa understand what this means for our country. It’s not just about the game on the field. Our country goes through so much and we are the hope that they have.”



Prior to the news by Ramaphosa, a lot of assumptions were made that the holiday would be on Monday, October 30, but it was made clear with the announcement only scheduled for that evening, that it would be business as usual.



Social Media has somewhat mixed feelings about the announcement. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/FamilyMeeting?src=hash&amp;ref_src=twsrc%5Etfw">#FamilyMeeting</a> Cyril: I declare the 15th of December a Public Holiday… South Africa: <a href="https://t.co/qt60Bi3i5m">pic.twitter.com/qt60Bi3i5m</a>&mdash; Roboto x3 (@Robot_Boii) <a href="https://twitter.com/Robot_Boii/status/1719061108361679154?ref_src=twsrc%5Etfw">October 30, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Okay khe we need to have this public holiday on the 15th of December for the next 4 years.<a href="https://twitter.com/hashtag/FamilyMeeting?src=hash&amp;ref_src=twsrc%5Etfw">#FamilyMeeting</a> <a href="https://t.co/WsPUd4cJxf">pic.twitter.com/WsPUd4cJxf</a>&mdash; Like-Car not Laeeqah 🇵🇸 🇿🇦 (@LaaiqahEbrahim_) <a href="https://twitter.com/LaaiqahEbrahim_/status/1719060559780356129?ref_src=twsrc%5Etfw">October 30, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Can&#39;t we have two holidays? One for us adults this week and for everybody on the 15th of December? This Boks victory must be celebrated while it&#39;s still fresh. <a href="https://t.co/qrjMw1uMv3">pic.twitter.com/qrjMw1uMv3</a>&mdash; Lord of 4IR 🌍 (@Qali___) <a href="https://twitter.com/Qali___/status/1719063543683649922?ref_src=twsrc%5Etfw">October 30, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">15th of December ? we have been schucks&#39;d <a href="https://t.co/ycjMSw2xHE">pic.twitter.com/ycjMSw2xHE</a>&mdash; A&#8230; (@AndileMqoqi) <a href="https://twitter.com/AndileMqoqi/status/1719063015239147631?ref_src=twsrc%5Etfw">October 30, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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CHOGM London 2018 – Day 2

Social Media Reacts To Public Holiday Announcement By South Africa’s President Following Springbok World Cup Win

Unmuting, raising your hand, chiming in—interruptions are simply awkward on Zoom. Here’s how to effectively—and politely—interrupt someone in a virtual meeting, according to experts.



Allison Shapira doesn’t shy away from using her voice: A self-proclaimed extrovert, the founder of a public speaking training firm and a former opera singer, she’s rarely had trouble knowing how to speak up. But even Shapira makes mistakes when it comes to that nuanced yet high-stakes act of virtual etiquette: Interrupting someone else on a Zoom call.



“It’s inherently rude [to interrupt], and yet sometimes it’s necessary to protect the conversation—or because the internet is spotty,” says Shapira, who recently had to be reminded to use the “raise hand” button when a colleague said she was interrupting too much. In a virtual setting where people are distracted, she says, technology delays reactions and in-person cues are missing. “It’s a human psychology issue,” she says, not just a tech one.



Interrupting co-workers in a meeting has long been a manners minefield, one increasingly laden not only with longstanding office politics and professional ambition but with concerns about gender bias concerns and “that-could-have-been-an-email” meeting glut.



Zoom made this complex act of corporate culture, well, weirder. Chiming in on a conference conversation became toggling between browser windows to find the unmute button. It’s much harder to read a co-worker’s body language across the table. And when “can you hear me?” or “your screen seems to have frozen” are said repeatedly, no one wants to pause meetings more for interruptions.



“You wait a minute to be polite and jump in, but they’re not actually done talking yet,” Shapira says, recalling a call last week where she and a client constantly interrupted each other due to frozen screens.



For introverts, it can be even harder to inject themselves in a Zoom discussion than one that takes place in the office. While the pivot to remote work can be easier for introverted employees—interactions are scheduled, and virtual meetings are easier to digest for introverts—speaking up in a Zoom meeting proves harder, says Carey Yazeed, a consultant and behavioral scientist who studies equity in the workplace, because they have to decipher the best time to interrupt.



“Extroverts have big personalities and are very good at inserting themselves,” says Yazeed. “An introvert is someone whose personality is more calculated. For them to speak up in a meeting, it’s something they have to think about in advance, write down and rehearse.”



Whether you’re the silent type, an extrovert, an intern or an executive, there are passable ways to interrupt on Zoom. Because after all, “no one should politely endure a monologue,” GitLab cofounder Sid Sijbrandij said in an email; he recently shared the remote-based company’s own Zoom&nbsp;<a href="https://www.linkedin.com/feed/update/urn:li:activity:7101938264122556416/" target="_blank" rel="noreferrer noopener">tips on LinkedIn</a>. Here are five ways to interrupt effectively in a virtual meeting. (And yes, it will still feel awkward.)



<h2 class="wp-block-heading" id="h-1-insert-yourself-in-the-beginning">1. Insert yourself in the beginning</h2>



The longer you sit and wait to speak up, the more likely it is you’ll refrain from speaking.



For introverts in particular, bringing up your talking points and questions toward the start of the meeting can be helpful, says Yazeed. Why? “There’s still that structure, that agenda,” she says. “People haven’t really gotten loose and started veering off topic yet.” You will be most heard at the start of the meeting.



<h2 class="wp-block-heading" id="h-2-wait-for-a-pause">2. Wait for a pause</h2>



When is the best time to interrupt? The answer proves even more difficult if the meeting host never pauses for air.



In that case, Shapira says the best time to interrupt is right before the meeting’s leader moves on to the next topic. Often, a speaker will take a breath or pause to ask if anyone has questions. Utilizing icons such as “raise hand” can help you take advantage of those pauses.



<h2 class="wp-block-heading" id="h-3-use-emojis-to-raise-your-hand">3. Use emojis to “raise your hand”</h2>



Don’t be like Shapira. Remember to use the “raise hand” feature that virtual meeting softwares like Zoom and Google Meet offer. Alternatively, send a message in the chat or unmute your microphone and wait.



If a participant’s raised hand goes unnoticed, don’t be afraid to advocate for those who are more introverted and are indicating they want to speak, Sijbrandij said in a&nbsp;<a href="https://www.linkedin.com/feed/update/urn:li:activity:7101938264122556416/" target="_blank" rel="noreferrer noopener">LinkedIn post</a>.



<h2 class="wp-block-heading" id="h-4-use-a-filler-word">4. Use a filler word</h2>



If those actions don’t capture attention, it may be time to speak up. (Interjecting the Zoom call with a filler word such as “so” or “actually” will often do the trick.)



Be sure, however, to use stronger words with emphasis that will signal you’re going to speak. Opt for “actually” or “great” rather than “um,” for example. Use a word that won’t go unheard or dismissed.



A perfect interruption equation, says Shapira, goes something like this: wait for the speaker to take a breath, use a filler word, compliment what they’re saying, then say your piece. “That’s a way—especially if you’re interrupting someone who’s either a peer or more senior to you—to show deference and show respect.”



<h2 class="wp-block-heading" id="h-5-use-a-facilitator">5. Use a facilitator</h2>



Most meetings don’t have a strong moderator that helps the conversation flow well. And it’s even more pronounced on Zoom, Yazeed says, when people are talking over each other, unmuting at inconvenient times and confusing meeting participants on who’s in charge.



An effective facilitator will pay attention to the chat and, when hand emojis are raised, include everyone in the conversation. If you’re running meetings or in charge of a team, make sure you use one, especially in virtual meetings.



Of course, if the virtual meeting ends and you didn’t get your point across or your “um” doesn’t give you a chance to speak, remember a follow-up email will almost always suffice. After years of back-to-back Zoom meetings in the pandemic, an email—rather than a meeting—is probably what most people wanted anyways.

Caption: A university teacher prepares to join an online tutorial using Zoom, June 2021.

Remote Work Image (1 of 1)

The Fine Art Of Interrupting People On Zoom

Following a $150 million aid for Togo&#8217;s development in September, the World Bank and the Office Chérifien des Phosphates (OCP) Group are partnering to support farmers in Togo and other West African nations. They formalized this collaboration by signing a Memorandum of Understanding (MoU) in Marrakech. Citizens are calling for transparency and efficient execution.



The World Bank and the Office Chérifien des Phosphates (OCP) Group have announced a partnership to support farmers in Togo and other West African and Sahelian countries.



OCP Chairman Mostafa Terrab and World Bank Vice President for Western and Central Africa Ousmane Diagana formalized this collaboration by signing a Memorandum of Understanding (MoU) during the World Bank and International Monetary Fund (IMF) Annual Meetings in Marrakech, a city located in western Morocco.



This development follows the World Bank&#8217;s inaugural operation of Togo&#8217;s new Development Policy Financing series ($150 million) in September.



Aligned with commitments in the Lomé Declaration endorsed by member countries of the Economic Community of West African States (ECOWAS) in May, this latest partnership aims to benefit five million farmers in Togo, Guinea, Mali, and Benin, covering 10 million hectares. Areas of cooperation include improving soil health and fertility, establishing agricultural technology and service centers, launching a Digital Farming School program, strengthening ECOWAS capacity, and supporting the establishment of a Regional Center for Soil Health and Fertility Management in West Africa hosted by the International Institute of Tropical Agriculture (IITA).



Under this partnership, both institutions reaffirm their commitment to the United Nations’ Sustainable Development Goals (SDG), particularly SDG2 on hunger and food security, and SDG13 on climate change.



According to Terrab: &#8220;These projects are an important step towards unlocking Africa’s potential in global food security.&#8221; He added, &#8220;The goal is to drive a just and sustainable agricultural transition, widening access for West African farmers to customized fertilizers that nourish the soil and improve crop yields, enhancing farmers&#8217; livelihoods and contributing to African development and prosperity.&#8221;



Diagana emphasized: &#8220;Both our institutions believe in accelerating investments and reforms to support resilient agriculture that promotes sustainable development and creates jobs. This partnership between the World Bank and the OCP Group is turning the Lomé Declaration into action.&#8221;



The World Bank&#8217;s economic overview of Togo highlights challenges since the Covid-19 pandemic, including headwinds from the fallout of Russia’s invasion of Ukraine, slowing external demand, tighter financing conditions, and regional instability. Togo&#8217;s government response involved increased public spending to stabilize growth, but vulnerable populations have felt the impact. The partnership between the World Bank and the OCP Group aligns with Togo&#8217;s efforts to address these challenges, focusing on key areas of cooperation for sustainable development.



In response to the announcement, Togolese entrepreneur Paul Mensah shares his sentiments with FORBES AFRICA, foreseeing a positive impact on the nation&#8217;s growth through this support.



&#8220;As a Togolese, it&#8217;s heartening to witness the World Bank&#8217;s commitment to our country&#8217;s economic progress,&#8221; says Mensah, emphasizing the importance of robust financial support in propelling the nation forward.



The financing, dedicated to supporting the government&#8217;s roadmap and enhancing food security, is viewed by Mensah as a crucial step toward addressing key challenges facing Togo&#8217;s economy.



&#8220;Food security is undeniably a cornerstone of economic development. The World Bank&#8217;s focus on this aspect aligns with the fundamental needs of our nation. It is a welcome development,&#8221; Mensah remarks, highlighting the significance of ensuring a stable and sustainable food supply for Togo.



While expressing his satisfaction with the World Bank&#8217;s initiative, Mensah also urges the Togolese government to play an active role in ensuring the effective implementation of the outlined roadmap.



&#8220;The success of these financial interventions hinges on the government&#8217;s commitment to transparent and efficient execution. I am hopeful that our leaders will prioritize the effective utilization of these funds for the benefit of our nation,&#8221; he states.



Mensah&#8217;s sentiment reflects a broader hope within the Togolese community that this injection of funds will catalyze positive change and contribute to the nation&#8217;s overall economic prosperity.

Member of a women’s cooperative carrying buckets to water a field in Karsome, Togo.

Sustainable Farming In Togo: World Bank’s Financial Injection And OCP Collaboration

Ghana has secured critical financing support for its climate adaptation and mitigation endeavors during the recently concluded 2023 International Monetary Fund (IMF)/World Bank Group (WBG) Annual Meetings. Finance minister Ken Ofori-Atta disclosed this to the Ghana News Agency.



At the forefront of this support is the World Bank&#8217;s International Finance Cooperation (IFC), pledging funding to bolster Ghana&#8217;s implementation of diverse climate change initiatives. These projects aim to fuel sustainable growth, foster a habitable planet, and generate employment opportunities.



Sharing his thoughts on this development, Ofori-Atta expressed optimism about the impact on Africa as a whole. &#8220;We have a huge seat at the table [of V20] now, and that will reflect on the whole of Africa, enabling us to design and understand where financing is going, especially in carbon credit financing,&#8221; he told the news agency.



He emphasized the positive outcomes of discussions with the World Bank and IFC, anticipating substantial resources and innovative financing schemes for climate mitigation and adaptation. &#8220;Beyond the stability that you bring with an IMF program, you need to look at growth,&#8221; he stated, underlining the focus on private investment and strengthening the system.



Highlighting the urgency of the climate agenda, Ofori-Atta pointed out its alignment with crucial sectors such as electronic vehicles and solar energy. &#8220;This aligns with the type of resources needed to make growth more effective and sustainable,&#8221; he added.



Ghana, as the headquarters of V20 (the Vulnerable 20 Group), is poised to lead and harness new ideas and global technology to accelerate the nation&#8217;s climate change agenda. Ofori-Atta affirmed that economic growth in Ghana would prioritize addressing climate change issues, with a commitment to translating stability into sustainable job opportunities for citizens.



Speaking with FORBES AFRICA, Ghanaian social entrepreneur Prince Fiadzigbe expresses optimism and cautious enthusiasm about the development.



Fiadzigbe highlights the critical importance of utilizing the funds effectively to address the pressing challenges posed by the climate crisis. &#8220;Hoping these funds are channeled into proper use by the government and leadership in the climate space for interventions whose results would see us better adapting to the climate crisis and mitigating it as a country,&#8221; he emphasizes.



Fiadzigbe commends the international community&#8217;s commitment to supporting climate initiatives in developing nations. He stresses the need for strategic and transparent allocation of resources to ensure that the intended goals are achieved.



&#8220;Ghana has been presented with a significant opportunity to bolster its resilience against climate change impacts and contribute meaningfully to global efforts in combating environmental challenges,&#8221; Fiadzigbe remarks. He calls for collaboration between government agencies, private sectors, and non-governmental organizations to implement comprehensive and sustainable climate solutions.



The entrepreneur urges the Ghanaian leadership to prioritize projects that not only address immediate climate concerns but also foster long-term environmental sustainability. &#8220;It&#8217;s imperative that we invest in initiatives that not only mitigate the current effects of climate change but lay the foundation for a more sustainable and resilient future for generations to come,&#8221; he states.



As Ghana navigates the complex landscape of climate adaptation and mitigation, Fiadzigbe remains hopeful that the secured financing will mark a turning point in the nation&#8217;s environmental efforts. He encourages ongoing dialogue and collaboration between stakeholders to ensure a coordinated and effective response to the climate crisis.



Fiadzigbe also emphasizes the importance of ensuring that these funds are deployed effectively to benefit local communities.



&#8220;While securing financing is a crucial milestone, it&#8217;s equally important to ensure that these resources reach the grassroots level, empowering communities to adapt to climate change and participate in sustainable practices,&#8221; he notes.

Ghana Debt is Sliding Into Distress

Ghana Secures Financing For Climate Initiatives At IMF/WBG Annual Meetings

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



The diabetes drug Mounjaro will be tested alongside an experimental treatment to study how to maintain muscle mass while losing weight, according to an announcement Thursday—after earlier studies suggested some other increasingly popular weight-loss drugs may cause people to lose lean muscle mass. 



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



BioAge Labs will co-administer its muscle loss drug azelaprag with Mounjaro to treat obesity as part of a clinical trial in partnership with Mounjaro maker Eli Lilly’s development arm, Chorus, the two companies said in a&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" target="_blank" rel="noreferrer noopener">joint statement</a>&nbsp;Thursday.



Early preclinical studies showed administering both azelaprag and Mounjaro—known generically as tirzepatide—in obese mice increased the total weight loss from Mounjaro, and led to “normalized body composition” and decreased glucose levels without an “appreciable decrease” in calorie intake, both companies said.



Kristen Fortney, chief executive of California-based BioAge, said administering azelaprag with Mounjaro “may help promote healthier weight loss.”



The trial is expected to begin in mid-2024, BioAge said.



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



Azelaprag is a drug that mimics the activity of apelin, a substance that is released through the body after exercise, according to BioAge. Apelin also helps to regulate metabolism and promote muscle regeneration. The drug could “significantly” prevent muscle atrophy among older adults, according to one&nbsp;<a href="https://www.businesswire.com/news/home/20221205005201/en/BioAge-Announces-Positive-Topline-Results-for-BGE-105-in-Phase-1b-Clinical-Trial-Evaluating-Muscle-Atrophy-in-Older-Volunteers-at-Bed-Rest" target="_blank" rel="noreferrer noopener">clinical trial</a>&nbsp;by BioAge in December involving 227 people age 65 or older.&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2023/01/31/diabetes-drug-mounjaro-expected-to-be-approved-for-weight-loss-soon-what-to-know-and-how-it-compares-to-similar-drugs/?sh=111cc0ea477a">Mounjaro</a>—manufactured by Eli Lilly—is a glucagon-like peptide-1 (GLP-1) receptor agonist, or a drug used to treat diabetes and weight loss, similar to the popular drugs Ozempic and Wegovy. Mounjaro has not been approved by the Food and Drug Administration for weight loss, though&nbsp;<a href="https://www.advisory.com/daily-briefing/2022/10/14/weight-loss-drugs" target="_blank" rel="noreferrer noopener">some doctors</a>&nbsp;prescribe the drug for off-label use for weight loss in patients who don’t have type two diabetes, like Ozempic.



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



A&nbsp;<a href="https://www.nejm.org/doi/suppl/10.1056/NEJMoa2032183/suppl_file/nejmoa2032183_appendix.pdf" target="_blank" rel="noreferrer noopener">clinical trial</a>&nbsp;of semaglitude—the active ingredient in weight-loss drugs Ozempic and Wegovy—indicated it could result in nearly as much loss of lean muscle as pounds of fat. Participants lost about 15 pounds of lean muscle on average, compared with 23 pounds of fat during a 68-week trial. The average age of participants was 52.



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



41.9%. That’s the percentage of adults age 60 or older in the U.S. who are obese,&nbsp;<a href="https://www.cdc.gov/obesity/data/adult.html#:~:text=Obesity%20affects%20some%20groups%20more%20than%20others&amp;text=The%20obesity%20prevalence%20was%2039.8,adults%20aged%2060%20and%20older." target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the Centers for Disease Control and Prevention.



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



<a href="https://www.forbes.com/sites/ariannajohnson/2023/01/31/diabetes-drug-mounjaro-expected-to-be-approved-for-weight-loss-soon-what-to-know-and-how-it-compares-to-similar-drugs/?sh=111cc0ea477a">Diabetes Drug Mounjaro Expected To Be Approved For Weight Loss Soon: What To Know And How It Compares To Similar Drugs</a>&nbsp;(Forbes)



<a href="https://www.bloomberg.com/news/articles/2023-10-26/shredding-fat-without-muscle-is-lilly-s-next-weight-loss-target?utm_campaign=socialflow-organic&amp;utm_content=business&amp;utm_medium=social&amp;utm_source=twitter&amp;cmpid=socialflow-twitter-business" target="_blank" rel="noreferrer noopener">Shedding Fat Without Losing Muscle Is Lilly’s Next Weight-Loss Target</a> (Bloomberg)<a href="https://www.forbes.com/sites/tylerroush/"></a>

Drug “Wegovy

New Trial Will Test Whether Weight Loss Drugs Can Work Without Shedding Muscle Mass

Deborah Okenla, founder of Your Startup, Your Story, has made it her mission to build and guide a diverse range of entrepreneurs in the United Kingdom. That has transformed to over 17,000 members in six years and she has helped raise over £5 million.



Your Startup, Your Story (YSYS) founder and CEO, Deborah Okenla and her team provide access and opportunities for founders and investors. But, in truth, Okenla’s transition to becoming an advocate for black founders in tech was triggered by four life-changing experiences.



Like many African families, Okenla’s parents wanted her to study law and that is exactly what she did. After graduating, she landed a job in Manchester with Ernst &amp; Young.



“They had this thing called Entrepreneur of the Year Awards and the guy that won it that year had a fitness space – I was a member and said ‘I can’t believe this man built this amazing business’. I think that is when I began to understand that there are people behind these businesses and the things we use every day,” says Okenla. At the time, she was also beginning to feel like she might be outgrowing her organization. That was when she had her first triggering experience.



“We were working on process that was long and tedious and I wanted to improve it. I was credited for it but was told I should not waste my time doing things that made the work better. I did it on non-billable hours and on the weekends. That’s when I got this massive shock. I realized if you are an intrapreneur or an entrepreneur, make sure you have an environment that nourishes it and supports it rather than stifling it,” says Okenla.



The next experience was when her hiring manager, who had worked for the company for 25 years, was laid off, and Okenla’s third experience was when she lost a close friend to suicide.



With the combination of these experiences, Okenla felt as though she was just sitting in the office mourning and absentmindedly watching her time go.



That is until she stumbled on a platform called Eventbrite. She registered for a hackathon event and in three days was able to learn how to build a business from ideation to execution. With no



experience in tech before the event, Okenla immediately fell in love with the ecosystem.



“I just loved the environment those event organizers were able to create and the engagement from people all over the world was incredible. I felt empowered. Afterwards, I went to the event organizers and said ‘I would love to be a volunteer and help’ and they literally laughed at me. I said ‘If you are not going to let me do this, then I would create my own ecosystem’, ” recalls Okenla.



She quit her job and joined an accelerator program where she specialized in designing programs that would recruit startups and introduce them to investors. The only problem was there was an increasingly disproportionate number of black founders receiving investment compared to their white counterparts. Okenla made the decision to harness her own skills and create her own community.



That was when YSYS was conceived. Her initial group consisted of people she connected with on Twitter and soon, through word- of-mouth, the business grew to host restaurant meetings and a large community on Slack.



“We have had individuals join our community and go ahead to raise a Series A round and we have also had individuals who have not worked for a long time land their first role and those are the stories that have kept us going.”



In the past six years, she says YSYS has raised over £5 million ($6.2 million) and supported over 3,000 diverse founders in the UK. Some of their partners include the Mayor of London, Financial Times, LinkedIn, Google, Spotify and many others. But there are still hurdles and barriers to overcome.



In addition to designing education initiatives and programs, Okenla also knocks on doors that would encourage the UK ecosystem to pay attention to people from diverse backgrounds.



“I wrote an open letter [to the government] and that led to a meeting with British Business Bank and they said they will track the diversity data to see who is applying for the fund and if it’s not as diverse as possible, ‘We will see more of what we can do’.”



Okenla’s mission is to help over 100,000 people excel in tech by the end of this year and the organization is well on its way to achieving it. When she looks back, it still amazes her that a simple WhatsApp group – starting with 30 people – is now an organization with over 17,000 members in six years, and one that has completely changed the course of her own life.

peace22

Diverse Pursuits: Guiding Entrepreneurs In The UK

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



Google will require Android apps to let users report scammy or inappropriate AI-generated content if they want to stay on the Google Play Store, according to a <a href="https://support.google.com/googleplay/android-developer/answer/13985936?sjid=5601262939205888504-NA" target="_blank" rel="noreferrer noopener">policy update</a>, amid fears that AI-based apps are being exploited by users to create <a href="https://techcrunch.com/2023/10/06/facebook-ai-stickers-bing-image-creator-jailbreak-guardrails/" target="_blank" rel="noreferrer noopener">NSFW</a> and <a href="https://www.forbes.com/sites/rashishrivastava/2023/05/11/reddit-ai-generated-porn/?sh=79d51c372e52">non-consensual</a> content.



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



Starting January 31, apps on the Google Play Store that allow users to create AI content will be required to have features so users can flag violative content to developers under the&nbsp;<a href="https://support.google.com/googleplay/android-developer/answer/13985936?sjid=5601262939205888504-NA" target="_blank" rel="noreferrer noopener">new policy</a>.



App developers will use the user reports to filter and moderate content on their apps themselves, the&nbsp;<a href="https://support.google.com/googleplay/android-developer/answer/13985936?sjid=5601262939205888504-NA" target="_blank" rel="noreferrer noopener">guideline&nbsp;</a>says.



Text-based generative AI chatbots and AI image generators are included within the policy, while apps that just host AI-generated content and don’t allow users to create new AI content aren’t able to create content using AI are free from the policy.



Some examples of violative AI-generated content determined by Google include non-consensual sexual deepfakes (or highly realistic fake AI images of real people), voice or video recordings of real people used to conduct scams and false or deceptive election-related content.



Google also announced last month it will soon require election advertisers to make “clear and conspicuous” <a href="https://www.forbes.com/sites/antoniopequenoiv/2023/09/06/google-will-require-advertisers-to-add-disclosures-for-ai-generated-election-ads/?sh=2abb2ded4324">disclosures</a> for advertisements containing AI-generated content.



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



Eric Schmidt, the former CEO of Google parent Alphabet,&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2023/06/26/ai-will-make-2024-election-a-mess-billionaire-ex-google-chief-schmidt-says/?sh=7171898f6bca">warned</a>&nbsp;in June that the “2024 elections are going to be a mess because social media is not protecting us from false generative AI.” Schmidt noted cuts to&nbsp;<a href="https://www.theverge.com/2023/3/13/23638823/microsoft-ethics-society-team-responsible-ai-layoffs" target="_blank" rel="noreferrer noopener">content moderation roles</a>&nbsp;at companies like Meta and X, formerly known as Twitter, were a “big issue.”



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



Google is one of the larger tech companies leading the push on stricter AI rules. Apple has yet to back its own&nbsp;<a href="https://developer.apple.com/app-store/review/guidelines/" target="_blank" rel="noreferrer noopener">app store guidelines</a>&nbsp;with AI or chatbot policies despite the increasingly controversial use of generative AI.&nbsp;<a href="https://www.forbes.com/sites/rashishrivastava/2023/05/11/reddit-ai-generated-porn/?sh=79d51c372e52">Non-consensual deep fakes</a>,&nbsp;<a href="https://techcrunch.com/2023/10/06/facebook-ai-stickers-bing-image-creator-jailbreak-guardrails/" target="_blank" rel="noreferrer noopener">not-safe-for-work memes</a>&nbsp;and&nbsp;<a href="https://www.theguardian.com/society/2023/sep/12/paedophiles-using-open-source-ai-to-create-child-sexual-abuse-content-says-watchdog" target="_blank" rel="noreferrer noopener">child sexual abuse material</a>&nbsp;have been produced by users on generative AI apps, sometimes through tricking or manipulating apps to get around bans on certain blocked content.



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



<a href="https://www.forbes.com/sites/dereksaul/2023/06/26/ai-will-make-2024-election-a-mess-billionaire-ex-google-chief-schmidt-says/?sh=7171898f6bca">AI Will Make 2024 Election A ‘Mess,’ Billionaire Ex-Google Chief Schmidt Says</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/rashishrivastava/2023/05/11/reddit-ai-generated-porn/?sh=79d51c372e52">How Real People Are Caught Up In Reddit’s AI Porn Explosion</a>&nbsp;(Forbes)

In this photo illustration, a woman holds a smartphone with

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IMF acknowledges Nigeria&#8217;s economic challenges: 26% inflation, naira pressure. CBN lifts forex ban, but concerns persist over exchange rate unification. Analysts weigh in on potential dollar loan effects. Swift government action is urged to clear outstanding forwards amid rising demand for dollars.



Responding to recent economic challenges in Nigeria, the International Monetary Fund (IMF) has acknowledged the country&#8217;s 26% year-on-year inflation rate in August and pressure on the naira.



&#8220;As with every member country of the IMF, Nigeria can seek IMF financing if they see this as helpful to address external imbalances,&#8221; the IMF told The Punch.



The IMF also welcomed the Central Bank of Nigeria’s (CBN) recent decision to lift the ban on the 43 items previously restricted from accessing foreign exchange from the official window. &#8220;This is a positive step in the direction of a shift to a market-determined exchange rate regime.&#8221;



FORBES AFRICA&#8217;s investigation reveals the naira is trading at ₦1,186 to the dollar in the parallel market, while the official Investors and Exporters (I&amp;E) window closed at ₦808 on Friday. Concerns arise about the effectiveness of the new free-floating system in response to President Bola Tinubu&#8217;s commitment to unify exchange rates.



Minister of Finance Wale Edun, in a conversation with Bloomberg, attributed the naira&#8217;s decline to overdue forward payments of $6.8 billion, suggesting the use of forward payments in the forex market played a role. The IMF urged Nigerian authorities to urgently tighten monetary policy, recommending measures like raising the Monetary Policy Rate and addressing excess naira liquidity. The IMF emphasized that clarity on the CBN&#8217;s dollar obligations would boost market confidence.



Despite challenges, the IMF expressed confidence in the abilities of Edun, and the new CBN governor, Olayemi Cardoso, believing they can make informed decisions to enhance the country&#8217;s economic fortunes.



Analysts speculate that a potential dollar loan could have mixed effects on the Nigerian economy. While it might offer short-term financial support, concerns about increased debt levels and the ability to meet repayment obligations linger.



Nigerian exporter Oluwaseun Obilana expresses concerns about the potential impact on the country&#8217;s business landscape.



Obilana highlights the challenges that a devalued naira could pose to businesses reliant on international trade. He states to FORBES AFRICA, &#8220;The stability of the naira is crucial for us exporters. Any depreciation adds uncertainty and affects our competitiveness in the global market.&#8221;



He acknowledges the need for solutions but emphasizes the importance of considering the implications for businesses. &#8220;While seeking a dollar loan might provide temporary relief, we must carefully weigh the long-term consequences on businesses like ours,&#8221; he remarks.



The exporter urges the government to explore comprehensive measures to stabilize the naira and boost the economy without compromising the interests of the business community. &#8220;A collaborative approach between the government and the private sector is essential to navigate these economic challenges effectively,&#8221; Obilana emphasizes.



Obilana remains cautiously optimistic, calling for transparent communication between the government and the business sector. &#8220;Clarity on economic policies and their anticipated impacts will help businesses adapt and make informed decisions,&#8221; he adds.



Also speaking with FORBES AFRICA, Nigerian economist Kelvin Emmanuel highlights that while borrowing against the special drawing rights (SDR) might appear reasonable for a low-income country like Nigeria, there are concerns about the associated conditions.



&#8220;The government is also concerned about the optics of using IMF, especially considering the conditions that will preclude such a facility,&#8221; remarks Emmanuel. He suggests an alternative approach, speculating that the Nigerian government might opt for a resource-backed loan from a global bank serving as an official external asset manager of the CBN.



Emmanuel further elaborates on the potential strategy, stating, &#8220;My best guess is that the Nigerian government will tap into this resource-backed loan and utilize the existing line of external reserves as an unsecured line of credit.&#8221; This approach, he believes, could offer a more flexible solution while avoiding some of the conditions attached to an IMF facility.



Highlighting the urgency of the situation, Emmanuel emphasizes the need for swift action by the government. He points out the necessity to clear outstanding forwards, especially with the demand for dollar expected to be at its peak in the fourth quarter.

Nigerian Economy Ahead of Rate Decision

Nigeria’s Economic Turbulence: Soaring Inflation And Naira Woes

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



The White House, which hosted a <a href="https://www.youtube.com/watch?v=Ug3DkX7VRy8" target="_blank" rel="noreferrer noopener">discussion</a> about growing right to repair legislation across the country, announced Tuesday that Apple will make parts, tools and documentation needed for consumers and independent repair shops across the U.S. to repair Apple products themselves, signaling a shift in consumer rights that will allow customers to avoid costly repair processes for their devices.



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



Right to repair legislation at the&nbsp;<a href="https://www.theverge.com/23910066/right-to-repair-law-newsom-california-sb-244" target="_blank" rel="noreferrer noopener">state level</a>&nbsp;has aimed to help consumers affordably repair their devices with tools and parts provided by the original manufacturers of such devices, allowing them to avoid difficult and expensive repair processes for products like phones and computers.



Though the legislation has only been passed in three states so far—California, Minnesota and New York—Apple will make repair tools and parts nationally at “reasonable prices,” according to&nbsp;<a href="https://www.youtube.com/live/Ug3DkX7VRy8?si=wYAtbvAp1YswE5XA" target="_blank" rel="noreferrer noopener">Lael Brainard</a>, the director of the National Economic Council.



Apple, which has built a reputation for high&nbsp;<a href="https://medium.com/@verdehumberto11/why-is-apple-repair-cost-so-expensive-bb9033e8575f#:~:text=To%20ensure%20that%20their%20repairs,the%20overall%20cost%20of%20repairs." target="_blank" rel="noreferrer noopener">product repair costs</a>, will also pledge support to a federal right to repair bill.



In California, the Right to Repair Act covers electronics and appliances made and sold after July 1, 2021, and requires manufacturers to make repair parts available seven years after the initial production of devices priced above $100.



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



Nathan Proctor, the senior director of the Campaign for the Right to Repair, told <a href="https://www.reuters.com/technology/apple-make-tools-parts-fix-phones-computers-available-nationwide-white-house-2023-10-24/" target="_blank" rel="noreferrer noopener">Reuters</a> he had reservations about potential federal legislation, noting Apple once required repair shops to sign contracts preventing them from stockpiling spare parts for quick walk-in repairs, making the shops less appealing than Apple’s own repair services.



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



30. That’s how many other states have introduced similar right to repair legislation passed in California, Minnesota and New York,&nbsp;<a href="https://www.reuters.com/technology/apple-make-tools-parts-fix-phones-computers-available-nationwide-white-house-2023-10-24/" target="_blank" rel="noreferrer noopener">Reuters</a>&nbsp;reported, citing Brainard.



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



Right to repair&nbsp;<a href="https://hbr.org/2023/01/research-the-unintended-consequences-of-right-to-repair-laws#:~:text=Repair%20advocates%20argue%20that%20such,buy%20new%20ones%20as%20quickly." target="_blank" rel="noreferrer noopener">proponents</a>&nbsp;have said the legislation aims to make repairs more affordable and convenient for consumers with broken products, which at times have to be replaced entirely, turned back in to original manufacturers for pricey repairs or given to repair shops that use third party parts. Right to repair provisions also stand to benefit farmers, according to EPA Deputy Administrator&nbsp;<a href="https://www.youtube.com/live/Ug3DkX7VRy8?si=-a50fHnu7PuKTmPG&amp;t=2288" target="_blank" rel="noreferrer noopener">Janet McCabe</a>. Early this year, tractor maker John Deere pledged support for consumers to repair their own equipment, reaching a memorandum of understanding with the American Farm Bureau Federation and allowing farmers to branch away from company authorized parts and service facilities, opening up use of independent repair options, according to&nbsp;<a href="https://www.bbc.com/news/business-64206913" target="_blank" rel="noreferrer noopener">BBC News</a>. However, right to repair advocates have been reluctant to support the memorandum, with Walter Schweitzer, president of the Montana Farmers Union, telling&nbsp;<a href="https://www.npr.org/2023/01/10/1147934682/john-deere-right-to-repair-farmers-tractors" target="_blank" rel="noreferrer noopener">NPR</a>.



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



<a href="https://www.reuters.com/technology/apple-make-tools-parts-fix-phones-computers-available-nationwide-white-house-2023-10-24/" target="_blank" rel="noreferrer noopener">Apple to make tools and parts to fix phones available nationwide &#8211; White House</a>&nbsp;(Reuters)



<a href="https://www.theverge.com/2023/9/13/23871712/california-right-to-repair-act-sb-244" target="_blank" rel="noreferrer noopener">California passes right-to-repair act guaranteeing seven years of parts for your phone</a>&nbsp;(The Verge)

Apple Holds Product Unveiling Event

Apple Backs Right To Repair—Will Provide Parts To Consumers For Product Repairs

Nigeria&#8217;s minister Wale Edun announced the country is to chair World Bank&#8217;s African Governors&#8217; Forum, marking a diplomatic and economic shift, emphasizing unity for an energy transition, with potential global impact and investor interest in sustainable development. This revelation has stirred excitement, particularly among the business and investment community.



Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has revealed that Nigeria has been granted the role of chairing the African Governors&#8217; Forum of the World Bank.



Edun reportedly disclosed this recently on the sidelines of the 2023 World Bank/ International Monetary Fund (IMF) annual meetings in Marrakech, one of the four imperial cities of Morocco.



He emphasized the opportunity that comes with Nigeria&#8217;s chairmanship, urging African leaders to rally behind a collective push for a fair and just energy transition, stressing the importance of a unified African voice to secure better deals for the continent.



This appointment signals a paradigm shift for Nigeria, marking the first time in 60 years the country will lead the African Governors&#8217; Forum of the World Bank based on the established rotation system. The forum operates on a rotation system, typically adhering to the alphabetical order of African countries.



While Nigeria&#8217;s turn for chairmanship is slated for 2026, Edun&#8217;s assertion of a special appointment suggests a unique diplomatic move. The flexibility in rotation principles allows nations to adapt to prevailing exigencies, showcasing a willingness among African countries to collaborate for the greater good.



The forum serves as a platform for African nations to present a united front, articulating both individual and collective interests during the annual IMF and World Bank meetings. The chairman&#8217;s tenure, traditionally one year, can be extended based on group consensus, showcasing the adaptability of the forum to evolving dynamics. This contrasts with the previous tenure of two years, altered in 2013 to foster a more responsive and dynamic leadership structure.



This revelation has stirred excitement, particularly among the business and investment community. According to analysts, as Nigeria assumes this influential position within the World Bank&#8217;s framework, the eyes of the international community will be on the country to observe how it utilizes this opportunity to contribute to the economic advancement of not just Nigeria but the entire African region.



Nigerian analyst Kolawole Oyebola expresses optimism about the potential benefits for Nigeria&#8217;s economic landscape.



Oyebola emphasizes the significance of Nigeria&#8217;s chairmanship in fostering stronger economic collaboration across the African continent.



He tells FORBES AFRICA: &#8220;This presents a unique opportunity for Nigeria to play a pivotal role in shaping policies that address the diverse economic challenges faced by African nations. The chairmanship signifies not only a recognition of Nigeria&#8217;s economic prowess but also a responsibility to lead initiatives that can drive sustainable development.&#8221;



The analyst underscores the importance of leveraging this position to advocate for policies that stimulate economic growth, alleviate poverty, and address pressing issues such as infrastructure development and access to finance. Oyebola adds, &#8220;Nigeria&#8217;s leadership in the African Governors&#8217; Forum provides a platform to influence decisions that can positively impact the lives of millions across the continent.&#8221;



However, he also highlights the challenges that come with such a role, urging the government to navigate diplomatically and collaborate effectively with other member nations. &#8220;Effective communication and consensus-building will be crucial in ensuring that the forum becomes a catalyst for meaningful change.&#8221;



Moses Adeolubodun, a Nigerian investor, anticipates the impact of Nigeria&#8217;s new leadership position. &#8220;This is a significant milestone for Nigeria and reflects the country&#8217;s growing influence on the global economic stage,&#8221; Adeolubodun tells FORBES AFRICA.



Adeolubodun notes that such leadership roles can enhance Nigeria&#8217;s image as a key player in the international financial landscape, potentially attracting more foreign investment. &#8220;Investors are likely to view this as a positive signal, indicating a stable and proactive approach to economic governance,&#8221; he explains.



While acknowledging the challenges ahead, Adeolubodun expresses confidence in Nigeria&#8217;s ability to leverage this opportunity for the benefit of the entire African continent.

Tag: Nigeria

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