FINANCE - 05 MAY 2020

DB: Vodacom launches 5G; 40% of Nigerians are poor; Amazon's engineer resigns

DB: Vodacom launches 5G; 40% of Nigerians are poor; Amazon's engineer resigns
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Telecoms

Vodacom launches 5G in South Africa
 

Telecoms giant, Vodacom, has announced that it launched Africa’s first 5G network in three South African cities – Johannesburg, Pretoria and Cape Town on Monday. This is to help the telecoms provider manage the increase in mobile network traffic being experienced during the lockdown. Last year, MTN Nigeria commenced a 3-month 5G trial. However, the Nigerian Communications Commission has not provided a time frame for the launch of 5G in Nigeria.




Macroeconomy

40% of Nigerians live in poverty
 

This National Bureau of Statistics released a report showing that 40% of Nigerians live below a revised poverty line (₦137,430 annually or ₦380 daily). The report which used the consumption records of over 22,000 households indicates that Nigeria remains the country with the world’s largest number of poor citizens. The report showed that the richest 20% consume about 42% of the country’s total consumption. 


 

Retail

Amazon engineer resigns over labour practices

A senior engineer at Amazon, Tim Bray, has resigned over Amazon’s decision to fire staff who criticised its labour practices. Demand for products on Amazon has surged since the pandemic, with 26% revenue growth recorded in its Q1 report last Thursday. The increase in consumer demand, however, has caused more pressure on warehouse workers, who are protesting insufficient protection for coronavirus transmission risks from handling deliveries.

 

 

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