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Nigerian government spells new regulation for social media platforms. Will compliance work?

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The Nigerian government wants social media platforms like Twitter, Facebook and Tiktok to be locally registered and open offices in Nigeria and appoint contact persons with the government.

The latest move by the government at regulating social media is part of the new draft regulations from the National information technology development agency published on Monday.

According to a statement by the National Information Technology Development Agency (NITDA), the new code of practice for “interactive computer service platforms/internet intermediaries” is meant to curb online abuse, including disinformation and misinformation.

The new code stipulates that Facebook, Twitter, Instagram, Google, and others must “provide information to authorities on harmful accounts, suspected botnets, troll groups, and other coordinated disinformation networks and delete any information that violates Nigerian law within an agreed time.”

Recall that Nigeria’s Information Minister, Lai Mohammed, last month said the country is monitoring Meta Platforms Inc., owners of Facebook and other platforms to ensure they comply with demands to curtail hate speech on their sites.

Nigeria under President Buhari has a record of guarding free speech. Recall that from 5 June 2021 to 13 January 2022, the government of Nigeria officially banned and restricted micro-blogging site, Twitter from operating in the country. The Nigeria government had said the ban was based on “a litany of problems with the social media platform in Nigeria, where misinformation and fake news spread through it have had real-world violent consequences”

Although the conditions for the implementation of the code are yet to be fully implemented, the government said social media platforms must comply with the “new code” for continued operation in Nigeria.

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ADB signs $15m transaction guarantee facility with Zimbabwe’s NMB Bank

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The African Development Bank (ADB) has signed a $15 million Trade Finance Transaction Guarantee Facility with Zimbabwe’s NMB Bank aimed at unlocking trade finance opportunities for small and medium-sized enterprises, as well as agri-business and trade distribution value chains in the country.

At the signing ceremony held at the NMB Bank Headquarters in Harare, ADB Country Manager for Zimbabwe, Moono Mupotola, signed on behalf of the Bank while NMB Bank Chief Executive Officer, Gerald Gore, signed on behalf of the bank.

Speaking shortly after the brief ceremony, Mupotola said the African Development Bank’s board had earlier approved the project in November 2023, with the facility offering up to 100% coverage to confirming banks, effectively mitigating non-payment risks linked to NMB Bank’s trade transactions on a per-transaction basis.

“It is tailored to support trade between Zimbabwe and other African countries and with overseas markets by significantly diminishing the risk for international financial institutions actively engaging in trade finance activities with Zimbabwean businesses,” Mupotola said.

“The African Development Bank is committed to supporting the development of the private sector in Zimbabwe. This is a significant step forward in supporting the growth and competitiveness of Zimbabwean businesses.

“By mitigating risk and facilitating access to trade finance, we are empowering SMEs and local corporates to participate more actively in regional and international trade,” she said.

Also speaking, Gore emphasized the agreement’s importance for Zimbabwe’s economic development.

“This facility will be instrumental in enabling NMB to provide crucial trade finance support to a wider range of Zimbabwean businesses. This will not only unlock new trade opportunities but also contribute to job creation and economic growth.

“SMEs often face challenges in accessing trade finance compared to their larger counterparts. This initiative directly addresses this gap, fostering a more vibrant and inclusive business environment in Zimbabwe,” Gore said.

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Ghana’s communications regulator predicts subsea cable repairs could take five weeks

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According to Ghana’s communications regulator, it will likely take at least five weeks to fully restore service relying on the damaged subsea cables causing internet outages throughout West and Central Africa.

Many businesses that are connected to the internet and telecommunications, such as banks, phone companies, money transfer services, and stock exchange markets, have been severely disrupted as a result of the cable break.

Equinix, a data centre operator, reported on Friday that a “external incident” caused a cut to its cable system in the Atlantic Ocean, off the coast of West Africa, near Cote D’Ivoire. It excluded human activity as the reason.

 

The four subsea cable landing service providers—Africa Coast to Europe (ACE), MainOne, which is owned by data centre operator Equinix (EQIX.O), opens new tab, South Atlantic 3 (SAT-3) and the West Africa Cable System (WACS)—as well as mobile network operators were present at the meeting, according to Ghana’s National Communications Authority.

“The cable landing service providers have indicated an estimated time frame of a minimum of five weeks for full service restoration from the time the vessels are dispatched to the various locations,” the regulator said.

It stated that the service providers had determined the general location of the damage and were getting ready to send out repair ships.

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