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South Africa is proposing changes to its Black empowerment laws to facilitate Elon Musk's Starlink satellite internet service, which he criticized as "openly racist." The new legislation would allow foreign telecom investors to meet equity requirements through alternative contributions, such as job creation and local supplier engagement, rather than direct equity sales to historically disadvantaged groups. Critics argue this move undermines the original intent of empowerment policies, while supporters believe it could enhance internet access for underserved rural communities.
Elon Musk, despite a quieter presence in the Trump administration, continues to benefit from his connections, securing lucrative deals for his companies like Starlink and SpaceX. His tenure as head of the Department of Government Efficiency (DOGE) has led to significant cuts in federal programs, with critics arguing that his actions have enriched him while harming regular Americans. As investigations into his companies are dropped and federal contracts increase, the long-term consequences of DOGE's policies are expected to be detrimental to the country.
Cisco Systems' executive vice president now owns 191,184 shares valued at approximately $11.6 million after a recent sale, which decreased their position by 1.07%. Over the past 90 days, insiders sold 14,635 shares, while institutional investors hold 73.33% of the stock. Analysts have raised Cisco's price target to $73.00, suggesting a potential upside of 14.74%. The company reported earnings of $0.96 per share, exceeding estimates, and announced a $15 billion share repurchase plan, indicating management's belief in the stock's undervaluation.
Elon Musk's businesses are reaping significant benefits from his close relationship with President Trump, highlighted during a recent Saudi-US Investment Forum where he announced new deals, including Starlink's approval for maritime and aviation use. His proximity to Trump has elevated his companies on a global stage, with SpaceX and Tesla gaining from government contracts and regulatory leniency since Trump's inauguration. Additionally, Musk's platform, X, has become a key communication tool for the Trump administration, further solidifying his influence.
A group of 13 Democratic senators is urging an investigation into Elon Musk's potential conflicts of interest regarding his Starlink satellite service, amid allegations he may have used his White House connections to secure international deals. Internal messages indicate U.S. embassies and the State Department promoted Starlink in various countries, while a report reveals Musk's business interests intersect with over 70% of targeted government agencies.
Under Secretary of State Marco Rubio has been criticized for promoting Elon Musk's Starlink internet service to foreign nations, particularly as they navigate U.S. tariffs. An internal memo revealed that countries like Lesotho are using Starlink deals to demonstrate goodwill in trade negotiations, raising concerns about conflicts of interest and ethical implications. The State Department's push for regulatory approvals for Musk's company reflects a troubling alignment between government actions and private business interests.
Democratic senators have called for an investigation into Elon Musk's potential use of his government role to secure foreign deals for Starlink, his satellite internet service. They allege that Musk may have leveraged his position to gain market access and contracts in countries like India, Bangladesh, and Vietnam, raising concerns about self-dealing and breaches of public trust. The senators emphasized that public servants should prioritize serving Americans over personal financial interests.
A recent court filing clarifies that Elon Musk is not an employee of the United States DOGE Service and does not hold decision-making authority within the agency. Acting administrator Amy Gleason emphasized that she oversees DOGE operations and reports to the White House Chief of Staff, while agency DOGE teams operate independently. Despite Musk's public role, he serves only as a Senior Advisor to the White House, with DOGE credited for saving an estimated $115 billion in government spending.
South Africa's investment plan focuses on electricity, new energy vehicles, and green hydrogen, but skills development remains a low priority. Concerns arise in coal-reliant communities about future employability as coal plants decommission, with slow progress in reskilling initiatives. The Just Energy Transition Partnerships (JETPs) face challenges, including limited grant funding and delays in project implementation, raising skepticism about their effectiveness and commitment to a people-centered approach.
Blended finance is emerging as a crucial strategy to enhance health care funding, particularly in low- and middle-income countries, where traditional development assistance is declining. Collaborative efforts, such as the m-mama service in Tanzania, demonstrate the potential of public-private partnerships to improve maternal and newborn health outcomes. However, experts emphasize that while blended finance can attract private investment, it is not a panacea for the health sector's challenges, necessitating a diverse approach to financing.
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