The already high price of internet access got even more expensive for Africans over the past year.
With internet users on the continent already paying the highest prices for mobile data relative to average monthly income, new data from the Alliance for Affordable Internet (A4AI) shows the average price of a gigabyte (GB) of data (relative to income) has increased over the past year in Africa while dropping or staying same in other regions.
It’s the first reversal in price trends seen since A4AI began measuring prices four years ago. A4AI’s latest report measures prices in 100 countries, up from 60 in the last report, and includes price points for several data packages.
As Quartz Africahas previously reported, the high cost of internet access—sometimes as expensive as $35 per gigabyte—puts affordable internet out of the reach of many Africans. Compounding the problem of high cost of access, internet speeds across Africa are also still far below the global minimum standard. In many ways, the progress already made around innovation based on access to internet on the continent, including financial inclusion and payments, serve as evidence of what’s possible if there were fewer barriers to access. For instance, studies show small businesses that use the internet grow twice as fast as those that do not.
Stranded assets are assets such as minerals or other natural resources that suffer from premature write-downs or conversion to liabilities even before their exploitation, causing possible market failure. Stranded assets can occur due to a variety of social and/or biophysical factors and are inherent in the deconstruction of economic growth and innovation. They can pose significant threats and have systemic implications.
Arriving in Abu Dhabi 21st March 2019, president Bio and his wife Mrs Fatima Bio and entourage were warmly received by Sheikh Mohammed Bin Zayed Al Nahyan – the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces of the United Arab Emirates.
President Bio will today meet with Sheikh Mohammed Bin Rashid Al Maktoum – Prime Minister and Ruler of the Emirate of Dubai.
The Federal Reserve is scheduled to release the results from the second round of its annual bank stress tests after the market close on Thursday June 28, and expectations are high that big boosts in dividends and share repurchases will be approved as part of the process. In fact, Barron’s projects that these returns of capital to shareholders will equal about 100% of U.S. bank profits earned over the next 12 months. The enhanced payouts are bound to increase the attractiveness of bank stocks to investors.
Stocks kicked off the week on a sour note Monday as Wall Street braced for more actions against Chinese companies by the Trump administration.
The Dow Jones Industrial Average dropped 328.09 points to close at 24,252.80, with Boeing and Intel among the biggest decliners in the index. The 30-stock index also closed below its 200-day moving average, a key technical level, for the first time since June 2016.
The Dow rebounded slightly in the final hour of trading after Peter Navarro, a top trade adviser to President Donald Trump, said on CNBC that investment restrictions against China and other countries are not immediately forthcoming and that the market was overreacting.
“He basically said ‘hey guys, it’s Trump playing the ‘Art of the Deal’ with China,” said Scott Redler of T3Live.com.
The S&P 500 fell 1.4 percent to 2,717.07 — posting its worst day since April 6, when it fell 2.19 percent — as tech declined 2.3 percent. Five of the 11 S&P 500 sectors also closed in correction, or down at least 10 percent from their 52-week high. The Nasdaq composite pulled back 2.1 percent to close at 7,532.01 as Netflix dropped 6.5 percent to lead the FANGs lower.