Kenya is considering adding gold to its foreign exchange reserve, a move that could provide a buffer against economic shocks. The Central Bank of Kenya Governor, Kamau Thugge, announced the plan, which is seen as a hedge against the volatility of the US dollar. This decision comes as gold prices have surged, with the precious metal now costing $3,218 per ounce.

The move is not unique to Kenya, as other African countries, such as Ghana and Egypt, have also been increasing their gold reserves. This trend is seen as a way for sovereigns to diversify their investments and reduce their exposure to the US dollar, which has been weakening in recent months.

In other news, Nigeria has upheld a $220 million fine against Meta, the parent company of Facebook and WhatsApp. The fine was imposed by the Federal Competition and Consumer Protection Commission (FCCPC) last year, accusing Meta of exploiting user data and enforcing unfair privacy policies. Meta had appealed the fine, but the Competition and Consumer Protection Tribunal ruled against the company, ordering it to pay the fine and overhaul its data practices.

This ruling is significant, as it highlights the importance of data privacy and consumer protection in Africa's largest market. The decision is also seen as a warning to other tech companies operating in Nigeria, emphasizing the need for compliance with local regulations.

In a separate development, MTN Group, a leading telecommunications company in Africa, has suffered a cybersecurity attack. The attack, which affected some of the company's key operational markets, resulted in the unauthorized access of some customer data. MTN has notified law enforcement agencies and stressed that its core network, billing, and financial service systems were not breached.

This incident highlights the growing threat of cybercrime in Africa, with South Africa, Nigeria, and Ghana being among the most targeted countries. The attack on MTN Group serves as a reminder of the need for robust cybersecurity measures to protect sensitive customer data and prevent financial losses.

The developments in Kenya, Nigeria, and MTN Group underscore the complexities of digital investments and security in Africa. As the continent continues to adopt new technologies and invest in digital infrastructure, it is essential to prioritize data privacy, consumer protection, and cybersecurity to ensure a safe and secure online environment.

These stories will continue to unfold, and TechCabal will provide updates and analysis on the implications of these developments for the tech industry in Africa.