Cassava Technologies partners with Nvidia to create Africa's first AI factory

Earlier this week, Cassava Technologies announced that it plans to build Africa's first AI factory, with the help of its strategic partnership with Nvidia. This investment will give businesses, governments and researchers access the best AI computing capacity, helping them develop smarter AI products, streamline operations and stay competitive in a fast changing world. Cassava plans to use Nvidia's accelerated computing and AI software to achieve this, with the first phase taking place at its data centres in South Africa by June 2025. It also aims to be the first one to introduce these accelerated platforms to Africa. The founder of Cassava, Strive Masiyiwa, also highlighted the importance of building digital infrastructure for an AI economy with the intention of enabling Africa to take full advantage of the fourth industrial revolution. Pepkor is buying up stores in South Africa...

Pepkor plans to acquire multiple brands from Retailability including Legit, Swagga, Style and Boardmans. This comes after the group's management has announced that they have entered into an agreement with Retailability to acquire these brands and also gaining traction in its strategy to build its market share in the adultwear market. The group said that the launch of the new Ayana womenswear brand in 32 stores last month and the recent acquisition of Choce clothing are examples of its adultwear growth strategy. The acquired businesses fit well into Pepkor's speciality and these acquired businesses have collectively generated R2.4 billion in revenue in the 2024 fiscal year. Pepkor already has 941 stores across South Africa, Botswana, Lesotho, Namibia and Eswatini and this transaction will add to this with the focus being on adultwear, especially womenswear. The group said that this transaction will unlock value via extensive scale in sourcing, supply chain and back office function, leveraging its capabilities in credit and other financial services. The total consideration of this transaction, subject to relevant net working capital adjustments, is approximately R1.92 billion. This will be settled in cash and this transaction is subject to standard regulatory and commercial suspensive conditions. Coins News - Gold Update

Gold started this week with a continuation of its already existing bullish sentiment. However, I am predicting some draw backs. Prices seem to be struggling to go past the $3,054 price level. Does this means that bulls are finally losing their strength after a 4-week domination? Well, stay tuned for more technical analysis next week! Thank you so much for reading. Read, like, comment and subscribe! Share with as many friends as possible!