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Google to establish cloud region in South Africa — its first in Africa

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2 years ago

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Google, an American multinational tech company, says it plans to establish a new cloud region in South Africa – its first on the continent.

The company announced this in a statement on Wednesday.

Cloud regions simply refer to specific geographical locations where public cloud resources are located.

Google said the new cloud region would help users, developers, businesses and educational institutions across Africa to move more information and tools online, improve access options for customers and in turn, create jobs.

With the development, South Africa will be joining Google Cloud’s global network of 35 cloud regions and 106 zones worldwide.

According to research by AlphaBeta Economics commissioned by Google Cloud, the project will contribute more than a cumulative $2.1 billion to the South Africa ’s GDP, and support the creation of more than 40,000 jobs by 2030.

Niral Patel, director of Google Cloud Africa, emphasised the company’s belief in growing an open and healthy ecosystem of technology solutions to support Africa’s digital transformation goals which leads to more opportunities for businesses.

“It is part of our company-wide ethos to respect the environment, which is why we operate the cleanest cloud in the industry, supporting sustainable digital transformation,” he added.

Patel also said Google was expanding its network through the Equiano subsea cable and building dedicated cloud interconnect sites in Johannesburg, Cape Town, Lagos and Nairobi.

“In doing so, we are building full scale cloud capability for Africa,” he explained.

On navigation initiatives, Google said it has also refreshed street view in Kenya, South Africa, Senegal and Nigeria with nearly three hundred thousand kilometres of imagery, to make maps more useful.

The company said this would help people virtually explore and navigate neighbourhoods on Google Maps.

It added that the service has been extended to Rwanda, meaning that street view is now available in 11 African countries.

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Naira depreciates to N1,770/$ in parallel market

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5 hours ago

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November 26, 2024 1:04 pm

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The Naira yesterday depreciated to N1,770 per dollar in the parallel market from N1,750 per dollar last weekend.

Similarly, the Naira depreciated to N1,675.62 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,675.62 per dollar from N1,652.62 per dollar last weekend, indicating N23 depreciation for the naira.

The volume of dollars traded (turnover) fell by 55.2 percent to $108.79 million from $243.05 million traded last week Friday.

Consequently, the margin between the parallel market and NAFEM rate widened to N117.38 per dollar from N97.38 per dollar last weekend.

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Port Harcourt Refinery begins crude oil processing

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6 hours ago

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November 26, 2024 12:52 pm

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The Nigeria National Petroleum Company Limited (NNPCL) has confirmed that the Port Harcourt Refinery in Rivers State has commenced crude oil processing.

The Chief Corporate Communications Officer of the compaanyy, Femi Soneye, broke the news on Tuesday.

Soneye revealed that the refinery will operate at 60 percent capacity and process 60,000bpd.

https://twitter.com/FM_Soneye/status/1861330633831620917?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1861330633831620917%7Ctwgr%5E776845f88f6fa6dd3c70082f4da1ee2632656999%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.vanguardngr.com%2F2024%2F11%2Fbreaking-port-harcourt-refinery-begins-crude-oil-processing%2F

“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation,” Soneye said on Tuesday.

“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future!”

Soneye added that truck loading will commence on Tuesday (today), adding that the NNPCL is also “working tirelessly to bring the Warri Refinery back online soon”.

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Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS

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1 day ago

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November 25, 2024 1:29 pm

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The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.

The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.

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