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Bloomberg, Ford Foundation & 5 African Varsities Team up for 2nd Financial Journalism Training

A new class of financial journalists and professionals interested in financial journalism has begun its Bloomberg Media Initiative Africa (BMIA) Executive Training Program 2015.
The program, which is funded by Bloomberg Philanthropies, with additional support from the Ford Foundation, brings together the University of Pretoria’s Gordon Institute of Business Science (GIBS), Lagos Business School, University of Lagos and three other preeminent business and journalism schools in Africa, to offer journalists and other mid-career professionals the opportunity to develop their skills and knowledge about financial and economic reporting.
A new development to the program, which commenced in April 2015, sees participants having access to the Bloomberg Professional service, or terminal, for six months.
The Bloomberg terminal is a software platform providing the world’s most trusted real-time and historical data, market-moving news and analytics to help business and financial professionals make better informed investment decisions.
The service also features execution platforms for every asset class, independent research and a global network to communicate securely and reliably with.
The 325,000 subscribers to the service include investment firms, corporations, commercial and central banks, government agencies and high net-worth individuals.
“With the real-time flow of data and information through the Bloomberg terminal, the student experience is significantly enriched. Most investors, brokers, reporters and government decision-makers find access to the terminal indispensable. Student access to the terminal is invaluable,” said Dr Lucy Voss-Price, the program director.
“The Bloomberg Media Initiative Africa (BMIA) is designed to increase the number of journalists , government and civil society professionals equipped to strengthen the contribution of business and financial media to the sustainable development of Africa,” says Erana Stennett, BMIA Program Director. “We are encouraged by the interests and enthusiasm in the program and believe the graduates of this training will be well equipped to make a greater contribution to transparency, governance and accountability,” she added.
The six-month certificate program has been developed primarily for mid-career journalists – especially those with an interest in moving into financial journalism, financial professionals with an interest in financial journalism, government professionals responsible for public policy, communications and banking or financial specialists, civil society and NGO professionals with a stake in the communication of economic and financial data.
The program consists of four intakes and applications for the third intake will open in August 2015.
Joey Mathekga, head of Corporate Disclosure Regulation and Compliance at the Companies and Intellectual Property Organisation (CIPC) said: “Attending the Bloomberg Media Initiative Africa training allowed me to recognize the importance of data, in terms of reviewing, analyzing and making informed commentary from financial statements. As part of my job I now have the responsibility of reviewing financial statements with regards to capital markets. It is no longer about a tick-box method but a contextual approach to supervision.”
Interested parties who possess a recognised tertiary qualification (degree or diploma) and have experience in journalism or a related field are encouraged to apply on www.gibs.co.za/bmia or email [email protected] for further information.
Founded in 2000, the University of Pretoria’s Gordon Institute of Business Science (GIBS) is an internationally accredited business school, based in Johannesburg, South Africa’s economic hub.
As the business school for business, we focus on general management in dynamic markets to significantly improve responsible individual and organisational performance, primarily in the South African environment and increasingly in our broader African environment, through the provision of high quality business and management education.
In May 2015 the annual UK Financial Times Executive Education rankings, a global benchmark for providers of executive education, once again ranked GIBS as the top South African and African business school.
In October 2014 the GIBS MBA was ranked among the top 100 business schools globally in the prestigious Financial Times Executive MBA Rankings.
GIBS is the only business school in Africa to appear in this ranking.
GIBS is accredited by the Association of MBAs (AMBA), the Council on Higher Education (CHE) and is a member of the South African Business Schools Association (SABSA), the Association of African Business Schools (AABS) and the European Academy of Business in Society (EABIS).
Also and aunched by Michael R. Bloomberg in 2014, the Bloomberg Media Initiative Africa (BMIA) is a three-year pan-African program that will provide cross disciplinary education programs to strengthen business and economic media capacity, convene African and international leaders to examine worldwide best practices in financial journalism, and improve access to information in order to advance transparency, accountability and governance on the continent.
News
Nigeria Spends $470m on AI-powered Surveillance Devices- Report

Nigeria has emerged as the largest investor in artificial intelligence-driven surveillance systems on the continent, committing over $470 million to advanced monitoring technologies, according to a new report.

Pic credit…bokysee.com
The study found that Nigeria, alongside 10 other African countries, has collectively spent no less than $2.1 billion on AI-powered surveillance infrastructure.
AI-powered surveillance devices represent a significant shift from passive recording to active, real-time monitoring and threat detection
The study, described as the most comprehensive account of smart city surveillance in Africa, examined deployments in Algeria, Egypt, Kenya, Mauritius, Mozambique, Nigeria, Rwanda, Senegal, Uganda, Zambia and Zimbabwe.
These investments include facial recognition systems and automatic number plate recognition tools aimed at strengthening security and urban monitoring.
The report, titled “Smart City Surveillance in Africa: Mapping Chinese AI Surveillance Across 11 Countries,” was produced by the Institute of Development Studies and released in March 2026.
It highlights Nigeria’s position at the forefront of adopting smart surveillance technologies, reflecting a broader trend across Africa where governments are increasingly turning to AI solutions to address security challenges and improve urban management.
“This level of expenditure translates into an average spend in the region of $240m per country.
“Nigeria alone has documented public expenditure of $470m AI-enabled facial recognition and ANPR, making it the continent’s largest buyer of smart city surveillance technologies,” the report stated.
“In all cases, we know that the real total is significantly higher because surveillance spending is often secret; no figures were available for two of the 11 countries studied; the public accounts for the other nine countries were incomplete; and this study included only 11 of Africa’s 55 countries,” the researchers noted.
The report said most of the surveillance infrastructure deployed across the countries was supplied by Chinese firms and financed through soft loans from Chinese banks.
“The Chinese safe city surveillance package is typically financed by soft loans from Chinese banks.
“A typical package involves a loan of $250m from Eximbank tied to the purchase of surveillance cameras from Hikvision and a command and control centre built and serviced by Huawei or ZTE,” it said.
The report explained that the packages usually include thousands of smart closed-circuit television cameras capable of transmitting geo-located facial recognition and vehicle number plate data in real time.
“The Chinese safe city package typically includes installing thousands of smart CCTV surveillance cameras, which transmit geo-located facial recognition and car number plate data in real time for analysis using artificial intelligence at dedicated data centres that serve as command and control facilities for police and security operatives,” the report added.
The study further revealed that China supplied smart city surveillance technologies to all 11 countries reviewed, while South Korea and Russia supplied three countries each, and the United Arab Emirates supplied two.
It added that the actual spending across the region could be significantly higher due to secrecy around surveillance budgets and incomplete public financial records.
News
Metaverse Collapses, Horizon Worlds Shuts Down on Quest

The metaverse, championed by Meta (formerly Facebook) in 2021, has largely collapsed due to low user adoption, technical limitations, and massive financial losses exceeding $80 billion.

Mark Zuckerberg
Meta is shutting down its flagship VR platform, Horizon Worlds, in June 2026, marking a major shift toward AI and mobile-first strategies.
The app will be removed from the Quest store on March 31 and discontinued in VR by June 15, continuing only as a mobile service.
Horizon Worlds, launched in 2021, was central to Meta’s rebranding from Facebook and its vision of a fully immersive virtual environment.
Despite billions in investment and high-profile partnerships, the platform failed to attract a large user base and struggled with design limitations and weak engagement.
Reality Labs, the division behind the metaverse push, has accumulated nearly$80 billion in losses since 2020, including more than$6 billion in a single quarter.
Recent layoffs affecting around 10 percent of the VR workforce, along with the shutdown of related projects, underscore a broader pullback.
Competition and shifting priorities have accelerated the decline.
Rival platforms such as VRChat maintained stronger communities, while Meta increasingly redirected resources toward AI and hardware, including its Ray-Ban smart glasses.
Although Meta says it remains committed to VR, the closure of Horizon Worlds signals a strategic reset.
The company is repositioning its future around AI-driven products, marking a decisive shift away from its earlier metaverse vision.
News
FG Plans New HIV Prevention Injection in 8 States, FCT

Federal government has commenced is to roll out a new long-acting HIV prevention drug, Lenacapavir, in selected states as part of efforts to reduce new infections and end AIDS as a public health threat by 2030.

Dr Iziaq Salako, minister of State for Health and Social Welfare, who disclosed this during a media briefing in Abuja, on Monday said the injectable drug will be deployed in eight states and the FCT.
The states are Anambra, Ebonyi, Gombe, Kwara, Akwa Ibom, Cross River and Benue.
Lenacapavir, a twice-yearly injectable pre-exposure prophylaxis (PrEP), is designed for HIV-negative individuals at substantial risk of infection.
Dr Salako said its introduction marks a significant shift from daily oral prevention options, particularly for individuals who struggle with adherence.
The Minister explained that Nigeria’s adoption of the drug followed its selection by the Global Fund as one of nine early adopter countries, after expressing interest in 2025.
He further said about 52,000 doses have already been secured to support the initial phase, with the first batch delivered and preparations underway for facility-level deployment.
He, however, stressed that the drug is strictly preventive and not a treatment for people living with HIV, warning against misconceptions that could encourage risky behaviour.
“This is not a cure or a licence for unsafe practices. It is an additional layer of protection for those at higher risk,” he said.
The minister explained that the rollout would begin on a controlled scale to allow close monitoring of safety outcomes and effectiveness before expanding nationwide.
He noted that implementation would be guided by the National Pre-Exposure Prophylaxis Implementation Plan covering 2025 to 2028, with focus on service delivery, supply chain management, financing and community engagement.
Adebobola Bashorun, national coordinator of the National AIDS, Viral Hepatitis and Sexually Transmitted Infections Control Programme, said the rollout strategy was informed by data and stakeholder collaboration.
He added that the injectable would complement, not replace, existing prevention methods such as oral PrEP and other long-acting options.
According to him, early observations show minimal side effects, mostly mild pain at the injection site.
Dr Temitope Ilori, director-general, National Agency for the Control of AIDS, described the development as a major boost to HIV prevention strategy, especially among high-risk populations.
She cautioned that the drug does not protect against other sexually transmitted infections or unintended pregnancies and is not recommended for pregnant women.
Similarly, Charles Nzelu, director of Public Health, said the innovation could significantly improve adherence to prevention programmes, given its twice-yearly dosage, but emphasised the need to sustain other preventive measures.
International partners also expressed support for the initiative while Josephine Aseme, chairperson of the Nigeria Key Population Health and Rights Network, described the injectable as long-awaited and potentially transformative for vulnerable groups.
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