adplus-dvertising
Connect with us

Media

Burundi: How sincere is Ndayishimiye’s ‘outstretched hand’ to the media? – The Africa Report

Published

 on


Maybe, Maybe Not

By Franck Kaze
Posted on Monday, 8 February 2021 18:13

Burundian President Évariste Ndayishimiye during a speech to media representatives, January 28, 2021. © DR / Burundian Presidency.

Évariste Ndayishimiye, Burundi’s President, has assured the media that he is ready to engage in dialogue with them. A declaration made as the country opens discussions with the EU to lift its economic sanctions.

Should this be seen as a real gesture of appeasement or a simple communication strategy? On Thursday 28 January, President Evariste Ndayishimiye addressed media officials in a way not seen since he took over the country last June.

Comparing the media to “children like any other” of the “benevolent state”, he called on the National Communication Council (CNC) to open, “as soon as possible”, a dialogue with the media. “It is important to find a solution to our previous differences. Media networks have been either sanctioned or suspended. The CNC must sit down with the directors of these networks so that a solution can be found and this dossier can be closed. We must get to work,” he said.

READ MORE Burundi’s President Ndayishimiye: new cabinet, new COVID strategy

This announcement had been communicated on government social media with the hashtag #NeverWithoutMedia. It had surprised Burundian and international professionals of the sector who had been attending a workshop at the Kiriri Garden Hotel since the day before on “the role and responsibility of the media in the development of the country, the safeguarding of social cohesion and the protection of human rights.”

“A step in the right direction”

Télé Renaissance, the privately-owned African Public Radio (RPA, whose premises had been destroyed during the 2015 crisis) and the Burundian Union of Journalists (UBJ) cautiously welcomed this “step in the right direction.”

In a joint statement, Innocent Muhozi, the director of Télé Renaissance, Bob Rugurika, director of the RPA and Alexandre Niyungeko, president of the UBJ, said they were “ready to engage in dialogue to restore freedom of the press in Burundi.”

They warned, however, that it “could not be restored in the current situation, where freedoms and rights do not exist,” deeming that “a comprehensive and inclusive dialogue with all actors of Burundian society is essential to restore public freedoms.”

“Let’s not forget that the BBC and VOA radio stations have been suspended. If this call concerns all media, including those in exile, we are ready to respond,” Muhozi told us. “Have the conditions to ensure a free press been met? Will the media be able to report on all news, even news that doesn’t please the authorities? Will independent civil society be able to do its work freely and denounce, for example, human rights violations?” he asked, mentioning, among the conditions necessary for dialogue, “the safety of those returning and the lifting of arrest warrants for some of us.”

Recalling the release, on 24 December, of the four Iwacu journalists who were arrested in October 2019, RSF for its part welcomed “encouraging signs for journalists in the country”, while stressing that “the stakes remain high, [including] the restoration of a climate of trust between the independent media and the administration.”

An “initial contact”

While extending his hand to the media, Ndayishimiye simultaneously defined the role of journalists, who – according to him – “have a capacity of nuisance proportional to their ability to positively and effectively influence their environment, on the development of the country.” He asked that “these media networks pledge to participate in the development of the country.”

A sign that there is still a long way to go was the fact that at the first meeting convened by the TNC to lay the foundations for this future dialogue, no representatives from media networks that had been exiled were invited.

READ MORE Burundi: Why history will judge Pierre Nkurunziza harshly

In addition to the BBC and VOA, four Burundian bodies were present: the Iwacu press group, the online newspapers Ikiriho and Nawe, as well as the Bonesha FM radio station, represented by its director, Léon Masengo.

“It was not my responsibility to invite the media networks that have been exiled,” said Nestor Bankumukunzi, the president of the CNC, at the end of these exchanges which were only an “initial contact.” “Discussions will continue with each media organisation individually, during which we will resolve issues, if any, relating to justice,” said Bankumukunzi.

The issue of sanctions

This opening of dialogue comes at a time when relations between the Burundian authorities and the EU are improving. After a first meeting on 27 January, the EU representatives and the Burundian authorities met again soon after on Tuesday 2 February.

Albert Shingiro, the Burundian foreign affairs minister, met the EU ambassador, Claude Bochu, as well as diplomats from European countries in Bujumbura (Germany, Belgium, France and the Netherlands). At the centre of the discussions were the economic sanctions that the EU had imposed on the Burundian government during the Nkurunziza era, due to the “serious human rights violations” that were being committed at the time.

READ MORE Burundi: It’s time to release human rights defender Germain Rukuki

“Where there is a will, there is a way”, said Bochu at the end of the meeting, without giving more details on the content of the discussions. “We can’t drag our feet anymore. We have to conclude this dialogue as soon as possible,” said Shingiro.

Let’s block ads! (Why?)

728x90x4

Source link

Continue Reading

Media

Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

Published

 on

Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

728x90x4

Source link

Continue Reading

Media

Arizona man accused of social media threats to Trump is arrested

Published

 on

Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

Continue Reading

Media

Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

Published

 on

Tech News in Canada

Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.

Continue Reading

Trending