Meta Platforms reported a staggering 91% drop in second-quarter free cash flow to $784 million, down from $8.55 billion a year earlier, as the financial burden of its massive artificial intelligence buildout mounts. The cash flow collapse, marking Meta’s lowest level since late 2022 when its Reality Labs division faced heavy scrutiny over $80 billion…
World shares were mixed Monday as the price of Brent Crude oil jumped $2.50 a barrel early in the day as talks on ending the war between the U.S. and Iran remained snagged. Disruptions to shipping through the Strait of Hormuz have pushed oil prices sharply higher since the war began. On Monday, Brent futures…
China-based fintech platform XTransfer is accelerating its expansion into Africa after recording more than 300 per cent growth in the region last year, as small and medium-sized enterprises (SMEs) increasingly seek faster and cheaper ways to handle cross-border trade payments, according to a senior leader at the firm. With trade between Africa and global manufacturing…
MultiChoice Group has officially announced the discontinuation of Showmax, signalling the end of one of Africa’s most ambitious and expensive digital experiments. The decision brings a definitive close to a platform that launched in 2015 and underwent a massive, high-stakes relaunch in 2024. Ultimately, Showmax failed to achieve commercial viability in a landscape defined by…
An investigation uncovered weaknesses in ZADNA’s credit card section of the procurement policy. (Image source: 123RF) Communications minister Solly Malatsi’s department is initiating several actions to give full effect to the recommendations of an investigation report on alleged misconduct by the CEO of the .ZA Domain Name Authority (ZADNA). This, after the entity was again…
WASHINGTON — While Republican leaders and allies of President Donald Trump praised his strike in Venezuela to capture leader Nicolás Maduro, Democrats and even some Republicans from various ideological corners of the party are pushing back. In the immediate aftermath of the attack, Trump is facing questions from Capitol Hill about the legality and the…
Africa’s efforts to scale up clean energy are being held back by financing rules that do not align with the needs of mid-sized renewable projects, according to investors and developers. They say current lending systems are designed for large-scale infrastructure, leaving smaller ventures struggling to move forward. Speaking at the Africa Investment Forum on November…
