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Musings From Abroad

Tesla chief executive, Elon Musk, dangles $41 billion before Jack Dorsey, Bret Taylor, for Twitter takeover

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The world’s richest man and Tesla chief executive, Elon Musk, has offered to buy Twitter for $41.39bn, according to a regulatory filing. Slam Africa earlier reported that the business guru’s offer of $54.20 a share was 38% higher than the closing price of Twitter’s stock on 1 April, the day before his investment of 9.2% in the company was publicly announced. The company’s shares were trading at $45.85 yesterday (Wednesday) and were up to more than $50 a share in pre-market trading. Elon Musk explained that “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” he said in a letter to Twitter chairman Bret Taylor. “Since making my investment I now realise the company will neither thrive nor serve this societal imperative in its current form. “Twitter needs to be transformed as a private company.” “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he added. Sky News reported that Elon Musk clarified that “this is not a threat, it’s simply not a good investment without the changes that need to be made”. It comes just days after the billionaire rejected a seat on the social media company’s board. Taking the board seat would have stopped him from a possible takeover of the company. Musk already owns 73,486,938 Twitter shares, which are currently worth £3.3bn. He is a frequent user of Twitter and has more than 80m followers, but this is not the first time he has been critical of the platform’s approach to free speech. Neil Campling, from Mirabaud Equity Research, said: “The Elon ego has landed. “This becomes a hostile takeover offer which is going to cost a serious amount of cash – aka he will have to sell a decent piece of Tesla stock to fund it – or a massive loan against it) and time.”

Musings From Abroad

US wants Africa to isolate Russia but won’t force its decision – Secretary Blinken

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Despite having seek support from the continent’s 54 countries in efforts to isolate Russia over its Ukraine invasion, the United States says it will not dictate Africa’s choices.

The US Secretary of State, Antony Blinken said on Monday, while presenting a new strategy document for sub-Saharan Africa at the University of Pretoria in South Africa’s capital.

The presentation is part of a continental tour that will also take him to the Democratic Republic of Congo and Rwanda.

“Too often, African nations have been treated as instruments of other nations’ progress, rather than the authors of their own,” said Blinken. “They have been told to pick a side in great power contests that feel far removed from daily struggles of their people.”

The strategy document stressed the threats posed by China and Russia to the United States’ interest in this increasingly important region.

Africa has been at the centre of the Russian/Ukraine war, with the two European countries being power houses in the supply of grains and other staple, the war has lunched in an era of high food cost in developing countries, largely African countries.

The continent has had a contingent of international guest lately. Recall  that Russian Foreign Minister Sergey Lavlov and French President Emmanuel Macron’s travel recently visited. Ukraine also announced that its Foreign minister will soon be visiting in a yet to be announced that.

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Musings From Abroad

Ukraine foreign minister to tour African states. Here’s why

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Ukraine President, Volodymyr Zelenskiy on Thursday revealed that its foreign minister will make a tour of African states this autumn.

The president’s office quoted Zelenskiy as saying at an online news conference for African media.

“I can’t do it now because of the war. I planned before the war, and I am sure that after the war I will do it,” The presidency said.

Africa has been at the centre of the Russian/Ukraine war, with the two European countries being power houses in the supply of grains and other staple, the war has lunched in an era of high food cost in developing countries, largely African countries.

The Ukrainian foreign minister’s visit will be the fourth in the series of strategic diplomatic visits to the continent in recent month by international leaders.

News broke on Monday that The United States Secretary of State, Anthony Blnken, is scheduled to tour Africa at a later date this month. That is shortly after Russian Foreign Minister Sergey Lavlov and French President Emmanuel Macron’s travel to three west African states where the European Union pledged to make Africa its focal point.

Despite the geographical distance, there are important ties between Ukraine and Africa, including more than 8,000 Moroccans and 4,000 Nigerians studying in Ukraine and over $4 billion in exports from Ukraine to Africa.

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