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Elon Musk hated Twitter’s free speech policy so much… he bought $3bn shares to take control

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Billionaire co-founder and Chief Executive Officer (CEO) of electric vehicle maker, Tesla,
Elon Musk, hated Twitter free speech principles so much he had to purchase a 9.2 percent stake in the company worth approximately $3bn, to take control.

As the shock of the acquisition begins to settle down after Musk purchased exactly 73,486,938 Twitter shares to make him the single largest shareholder in the social media company, past tweets by the world’s richest man have revealed he was so angry with the free speech policies of the platform that he bought over the platform.

Musk who now has four times the number of shares the company’s founder, Jack Dorsey, had always been critical of Twitter’s free speech principles and on several occasions, had called for censorship to be stripped back and even shared a tweet discussing this view.

“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” he had once written.

“What should be done?” He added, with a poll which had majority of respondents giving him support, with some asking him to do something about it.

In another tweet shortly before buying the shares, Musk had insinuated that he could take over the platform with his followers not knowing he had already purchased his stake in the company at that point.

Experts have quickly drawn up the conclusion that his purchase of the Twitter shares was made with the aim of bringing about some significant changes at Twitter.

With Musk’s purchase of the shares, and the company stock shooting up by 25 percent within 24 hours of the announcement, investors are looking forward to sweeping, positive changes in the near future.

Musk is yet to tweet about his purchase of Twitter shares but his 80 million followers may not have to wait for long.

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Kenya’s auto-tech startup BuuPass expands system to new operators

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Kenyan auto-tech startup, BuuPass, has announced the expansion of its Bus Management System (BMS) to new operators in a bid to further enhance transparency and operational efficiency for bus companies in the country.

Founded in 2016 by the duo of Sonia Kabra and Wyclife Omondi, BuuPass has grown from a B2B2C mobility marketplace to become a leader in digital ticketing and transportation management solutions that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

“What we are witnessing is nothing short of a digital renaissance in bus operations. Our Bus Management Service isn’t just a tool—it’s the future of this industry,” said Kabra, who doubles as the CEO of the company.

“So far, BuuPass has sold over 16 million travel tickets and generated over US$100 million in total value of goods sold, while it has also taken part in the Google for Startups Accelerator Africa and been backed by the Google for Startups Black Founders Fund. It also acquired counterpart QuickPass earlier this year.

“The BuuPass BMS is designed to address the most pressing challenges faced by bus operators. At its core, the system enhances transparency and control by providing real-time visibility into all aspects of operations, from ticket sales to route performance.

“Among the newly enrolled operators are Abuya, Abandu, Shoreline, and Bin Ibrahim, serving crucial routes such as Nairobi-Garissa, Nairobi-Moyale, Nairobi-Busia, Mombasa-Busia, and Mombasa-Kitui.

“To ensure smooth integration, BuuPass provides these operators with scanning devices, computers, and digital printers, along with comprehensive training for their staff on system usage,” she said.

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Tanzanian fintech Nala secures $40m funding to boost expansion

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Tanzanian payments platform, Nala, has announced securing $40 million in Series A funding from several global investment firms such as San Francisco-based VC firm, Acrew Capital, DST Global and Amplo, as well as other angel investors, which it says will be used for its global expansion and to strengthen its payment systems across Africa.

The startup which has its headquarters in Kenya, is a fintech that enables seamless money transfers from the UK, US, and the EU to Kenya, Uganda, Tanzania, Rwanda, and Ghana.

Nala’s founder and CEO, Benjamin Fernandes, who announced the new funding in a statement, said it is coming on the heels of a $10 million seed round in 2022 and will further improve the reliability of its African payment systems by establishing its own payment infrastructure.

Fernandes highlighted how the new capital would fast-track the company’s global expansion efforts, focusing on its Nala Money App and its business-to-business (B2B) payment platform, Rafiki API.

“This funding allows us to go beyond remittances and scale beyond Africa, building a comprehensive payments ecosystem. We’re reinvesting to enhance our infrastructure, ensuring affordable, reliable payments for everyone,” Fernandes said.

“With our own payment rails and the growth of our B2B platform Rafiki, we’re not just talking about change – we’re building it. We have bold, ambitious plans, so stay tuned for the next couple of years.

“For the first time, we are profitable and cash flow positive. Our transaction volume has surged 34 times over the last 20 months,” he added.

He noted that the company has expanded from a seven-member team to nearly 100 employees, and is serving nearly 500,000 customers globally.

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