Business
Google promises 300,000 jobs in South Africa
South Africa’s official unemployment rate was last reported at 31.9%, with youth unemployment for those aged between 15 and 35 sitting at 44.6%, according to Statistics South Africa’s labour force survey for Q4 2024.
Google says its investment in data centre infrastructure in Johannesburg, part of a greater R18 billion investment in Africa, should help create 300,000 jobs and contribute R1.7 trillion to the South African economy by 2030.
Mybroadband reports that the tech powerhouse added that South Africa also has the unique opportunity to rapidly develop its nascent artificial intelligence sector to become an AI leader on the African continent and the global stage, given its youth bulge and high unemployment rate.
This is according to Google’s Europe, Middle East, and Africa President Tara Brady, who spoke during a press conference on Wednesday at the launch of the company’s Johannesburg cloud region.
“I do believe that when you have a large number of organisations willing to invest in training, you could leapfrog many other countries and become an AI leader,” Brady said. Brady was commenting on the 300,000 jobs Google said their infrastructure investment in Johannesburg would help create by 2030.
He added that Google has identified a unique advantage in South Africa due to its high unemployment rate, which is not seen in other countries around the world.
“When you have such high unemployment, it means that we can put those people to work, which is an opportunity that we don’t have in other regions,” Brady said.
“So if South Africa wants to, we are prepared to invest in AI together here.
South Africa’s official unemployment rate was last reported at 31.9%, with youth unemployment for those aged between 15 and 35 sitting at 44.6%, according to Statistics South Africa’s labour force survey for Q4 2024.
Google CEO Sundar Pichai announced in 2021 that the tech giant would invest $1 billion (R18 billion) over five years in digital transformation on the continent.
Brady said that while a “large chunk” of this was dedicated to the cloud region, it also focused on skilling people in Africa and aiding tech startups in the region.
South Africa’s minister of communications and digital technologies, Solly Malatsi, who did not attend the event but delivered a prerecorded address, emphasised the importance of these skilling initiatives in the country’s vision of a digital future.
Business
President Tinubu Leaves for Kenya, Rwanda and France to Strengthen Strategic Partnerships
At the two summits, President Tinubu will deliver statements highlighting his administration’s ongoing reforms to reposition the nation as a prime destination for investment and growth. He will also hold high-level meetings with top-tier global and African business leaders.
President Bola Ahmed Tinubu will depart Abuja on Saturday, May 2nd, on a visit to Kenya, Rwanda and France.
The itinerary details are provided by Bayo Onanuga,Special Adviser to the President(Information & Strategy), as follows:
” President Tinubu’s first stop will be in France, after which he will depart for Nairobi, Kenya, to attend the Africa-France Summit scheduled to begin next week.
Co-chaired by President Emmanuel Macron and President William Ruto, the summit focuses on energy transition, green industrialisation, digital transformation, restructuring of global financing architecture, and climate action.
President Tinubu’s participation at the summit from May 11- 12 will underscore Nigeria’s unwavering commitment to strengthening strategic partnerships with African nations and the French Republic.
The summit, with the theme – “Africa Forward: Africa-France Partnerships for Innovation and Growth” – will provide a high-level platform for African leaders and their French counterparts to deliberate on critical issues affecting the continent, including economic transformation, climate resilience, infrastructure development, youth empowerment, technological advancement, and peace-building initiatives.
At the end of the Kenyan summit, President Tinubu will depart for Kigali, Rwanda, to attend the annual Africa CEO Forum, taking place between May 14th and 15th.
With the theme “Scale or Fail”, this year’s Africa CEO Forum will be the largest gathering of African private sector leaders, investors, and policymakers, focusing on accelerating economic transformation through shared scale, regional integration, and increased cross-border investment.
Held in partnership with the International Finance Corporation (IFC), the summit brings together over 2,000 top executives and national leaders to debate strategies for building resilient, competitive industries.
At the two summits, President Tinubu will deliver statements highlighting his administration’s ongoing reforms to reposition the nation as a prime destination for investment and growth. He will also hold high-level meetings with top-tier global and African business leaders.
President Tinubu will be accompanied on the trip by some of his ministers and senior aides.
He will return to Nigeria at the end of the Rwanda summit. “
Business
Nigerian Lawmakers Demand Arrest of World Bank Official Calling for Reinstatement of Petroleum Import Licences
Declaring the unnamed World Bank official persona non grata, the Committee gave the Bank 30 days to issue a public retraction and written apology.
The House of Representatives Committee on Petroleum Resources (Downstream) has call for the dismissal and arrest of the World Bank official responsible for the April 7, 2026 Nigeria Development Update, which recommended the reinstatement of petroleum import licences.
The Committee described the recommendation as a reckless move capable of undermining Nigeria’s indigenous refining capacity.
In a formal resolution, the Committee condemned the World Bank report, which claimed that imported petroleum products are 12 percent cheaper than those from the Dangote Refinery.
It rejected the position as contrary to Nigeria’s national economic interest and an unacceptable interference in the country’s sovereign petroleum policy.
Declaring the unnamed World Bank official persona non grata, the Committee gave the Bank 30 days to issue a public retraction and written apology.
It further demanded that the staff member responsible for the report be relieved of their duties and subjected to investigation.
Business
Senate approves Tinubu’s $516.3m loan
The syndicated financing facility is being sought from Deutsche Bank, according to a letter of request Tinubu sent to the Senate last Thursday.
The Senate has approved the $516.3 million loan requested by President Bola Ahmed Tinubu.
The money will be used for the construction of the Sokoto-Badagry Superhighway (Section One, Phase 1A and B).
The approval was given on Wednesday after the Senate considered the report of its Committee on Local and Foreign Debts.
The committee, chaired by Senator Magatagarda Wamakko, recommended the approval of the loan.
The syndicated financing facility is being sought from Deutsche Bank, according to a letter of request Tinubu sent to the Senate last Thursday.
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