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Twitter stock breaks record by 27% rise after Elon Musk becomes largest shareholder

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Twitter on Monday announced that its shares have soared more than 27 per cent after the billionaire CEO of electric vehicle maker Tesla,
Elon Musk, became its single largest shareholder with the purchase of 9.2 per cent passive stake in the social media company.

By that purchase, Musk now owns more than 73.4 million shares of Twitter, worth about $3 billion, according to a filing with the US Securities and Exchange Commission.

Twitter, with a market value of about $40bn, has had its shares shot up about 17 per cent since the start of this year.

The US Exchange Commission also announced that shares of the company settled at $49.97 at the close of trading on Monday, an increase of a further 1.1 per cent in after hours trading with the stock price rising to $50.52.

Musk, with more than 80 million followers on Twitter, has used the platform to make several announcements, with the likes of Bitcoin, Ether and Dogecoin, receiving massive boosts after Musk tweeted that he owns the digital tokens and is not planning to sell.

Musk who is reputed to be the world’s richest person with a net worth of $273bn according to the Bloomberg Billionaires Index, last month, complained about the excessive censorship of content and lack of free speech on Twitter.

“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done,” Musk had asked in a tweet that had millions of retweet within hours.

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SA internet service provider Kaya Konekta launches data access for underserved communities

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South Africa’s leading Internet Service Provider (ISP), Kaya Konekta (KaKo), has launched new operations aimed at reaching underserved communities in the country.

The new service which the company says will revolutionise connectivity in the catchment areas comes with affordable and accessible internet services.

Founder and CEO of KaKo, Kagisho Dichabe, who praised the efforts of his team in a statement on Friday, said “KaKo aims to bridge the connectivity gap by providing reliable and affordable data, with a host of mobile and home broadband packages at below market rates.”

“For financial inclusion to be a reality, we need to connect the unconnected, and “Data Must Fall,” he said.

“We are dedicated to providing affordable, reliable internet services to underserved communities, empowering individuals and businesses for a better future.

“Data has become too expensive for people in our communities, especially in our townships,” Dichabe said.

He added that KaKo also aims to empower youth with accessible, high-speed internet, enabling them to access educational materials and online courses conveniently.

“This connectivity offers opportunities for knowledge expansion, higher education pursuits, and skill development,” he emphasized.

The startup’s CEO Thabiso Malekele, also noted that the company views the “internet as an essential tool, not a privilege, for unlocking potential, fostering learning, and connecting communities.”

“This belief fuels our passion to change and improve the lives of underserved and unconnected individuals.

“Our nation’s history compels us to actively champion this cause. While we strive to expand our reach like any ISP by deploying various technologies including fibre, LTE and 5G to different customers, we prioritise addressing the critical gaps in connectivity that leave many behind.

“At Kaya Konekta, we’re passionate about both customer service and the community.”

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Nigeria’s MAX partners Ghana’s Kofa in e-bike financing deal

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Nigeria’s electric vehicle solutions provider, MAX, has announced striking a partnership deal with Ghana’s innovator in energy networks, Kofa, that will see MAX offering financing options for over 2,000 revolutionary TailG Jidi bikes.

The bikes which are developed by Kofa in conjunction with TailG, a Chinese manufacturer, were launched in October last year and has been a big hit in the West African country.

A statement by MAX on Thursday, stated that the partnership marks a significant milestone in making green transportation more accessible in Africa.

“Max’s financing options for the motorbikes will enable more individuals and businesses to adopt eco-friendly transportation, aligning with both companies’ vision of a sustainable future,” it said.

“This collaboration between MAX and Kofa is a step towards a greener, more sustainable Africa.

“This partnership is poised to accelerate the transition to green energy and sustainable transportation in Africa,” the company said.

“The coming together of the two democratises access to vehicle ownership and electric mobility across Africa through a tech-driven platform that offers a spectrum of services, including subscription-based vehicle financing,cutting-edge electric vehicle options, and comprehensive support services.

“Kofa, meanwhile, is focused on creating affordable, sustainable, and customer-driven electricity networks, starting with electric motorcycles.

“The startup partnered TailG Group, a leading electric vehicle brand from China, to launch the Jidi electric motorcycle last October, and subsequently announced the planned launch of its second-generation Kore 2 Swap & Go network,” it added.

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