Major International Business Headlines Brief::: 24 December 2024

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

 <http://www.bullszimbabwe.com> Bullszimbabwe.com
<mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments
<https://bullszimbabwe.com/category/blogs/bullish-thoughts/> Bullish
Thoughts        <http://www.twitter.com/BullsBears2010> Twitter
<https://www.facebook.com/BullsBearsZimbabwe> Facebook
<http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn
<https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp
<mailto:bulls at bullszimbabwe.com?subject=Unsubscribe> Unsubscribe

 


 

 


Major International Business Headlines Brief:::  24 December 2024 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Africa's Debt Burden Eroding Funds for Sustainable Development in Ldcs

ü  Ethiopia: In-Depth - Progress or Hardship?: How Ethiopia's Economic
Reforms Impact Low-Income Households Amid Inflation, Escalating Cost of
Living

ü  Mozambique: Japanese Bank Criticized for Financing Mozambique LNG Project
Blamed for Displacement

ü  Liberia: 2025 Budget Illegal?

ü  Mozambique: Exam Boycott Affected About 35,000 Students

ü  Kenya: Southern Bypass Closed for Maintenance From Dec 24 to Jan 5

ü  Ethiopia: World Bank's $700 Million Loan Targets CBE Restructuring,
Financial Overhaul of Nbe and Dbe

ü  South Africa: Preferred Bidders Chosen for Renewable Energy Bid Windows

ü  Ethiopian Coffee Exports Surge Due to Recent Reforms

ü  Uganda: Vivo Energy Trains Drivers for Festive Season

ü  Nigeria's Pbr Life Sciences Raises $1m to Expand Healthcare Analytics

ü  South Africa Awards 1,760 Mw of Projects in Green-Energy Push

ü  Cadbury loses royal warrant after 170 years

ü  Consultation launched over petrol car phase-out

ü  When TikTok's underconsumption trend meets festive excess

 


 <mailto:info at bulls.co.zw> 

 


 

Africa's Debt Burden Eroding Funds for Sustainable Development in Ldcs

Soaring repayment costs leave Africa's Least Developed Countries struggling
to fund health, education and SDG priorities

 

Africa's rising debt burden is eroding funding for sustainable development
in the Least Developed Countries (LDCs), impacting heavily on health and
education, says Ms. Oyebanke Abejirin, Economic Affairs Officer, at the
Macroeconomics, Finance & Governance Division of the UN Economic Commission
for Africa.

 

Making a presentation on the opportunities and challenges for Africa's Least
Developed countries (LDCs), at the Second Session on the Committee on
Economic Governance in Addis Ababa, Ethiopia, Ms. Abejirin explained that
high debt servicing costs reduce the capacity for SDG-related spending
causing a real decline in health and education funding across many
countries.

 

She noted that debt distress worsens the public financial positions of
African LDCs. Debt servicing reached a record 11.6% of the exports in 2022.

 

In 2021, she said, African governments allocated 4.8% of GDPs to debt
servicing compared to 2.6% for health and 4.8% for education.

 

"Social protection systems in Africa LDCs are severely inadequate; only
12-13% of the population is covered," she added and stressed that inclusive,
robust social protection "is essential to shield the LDCs from global and
regional shocks including post-COVID-19 effects and climate change-related
disasters."

 

Ms. Abejirin highlighted a need to strengthen domestic revenue generation to
help close the significant gap in financing the SDGs in Africa.

 

According to Ms. Abejirin, African LDCs make up 33 of the 45 LDCs
contributing to less than 1% of the global GDP despite having 10% of the
worldwide population.

 

She emphasized Africa's need for a public debt sustainability framework that
includes linking debt obligations to productive investment, improving fiscal
and debt transparency and developing a framework for responsible borrowing.

 

Sharing the Mozambique perspective on debt servicing, Ms. Pamela Mabanda,
from the Ministry of Finance, said the country is experiencing a trade
balance deficit, importing more than exporting with imports mainly
consisting of intermediate and capital goods.

 

The sustainability of the economy, she said, is threatened by the high
proportion of expenditure (almost 70%) going towards debt repayment, which
limits resources for investment and support.

 

Strategies are being developed to address these challenges and improve the
fiscal space for sustainable development.

 

"There is a need to improve domestic resource mobilization and reduce tax
evasion, especially for the main imports in the country," noted Ms. Mabanda.

 

She emphasized the importance of fiscal consolidation to reduce expenditure
and increase revenues through diversification of financial funds and a
proactive approach to macro-fiscal risk.

 

Mr. Allan Mukungu, Economic Affairs Officer at UN ECA, discussed the
inability of African countries to finance their needs due to fiscal
deficits, with an average public debt of 67% in 2024.

 

"Nine African countries are in debt distress and 11 are at high risk, making
them vulnerable to financing issues. The focus should be on creating fiscal
space to finance sustainable development and meet the Agenda 2063
aspiration," he said.

 

Mr. Mukungu pointed out the importance of the integrated national financing
framework (INFFs) for financing SDGs.

 

"INFFs help to unlock financing for national development priorities by
aligning available financing with the national development plans.

 

About the Economic Governance Committee.

 

The second Economic Governance Committee session was held in Addis Ababa in
mid-November, with representatives from 31 countries in attendance.

 

The session aimed to discuss the issues and challenges of financing for
sustainable development in Africa, with a focus on the 4th International
Conference on Financing for Development in 2025.

 

Africa Renewal.

 

 

 

 

Ethiopia: In-Depth - Progress or Hardship?: How Ethiopia's Economic Reforms
Impact Low-Income Households Amid Inflation, Escalating Cost of Living

Addis Abeba — For Lombebo Mulatu, a federal government worker in Addis
Abeba, life has become an unrelenting battle against rising costs. Each
month begins with a heart-wrenching decision: pay the rent or buy food.

 

"My salary barely covers the basics," he said, the weight of his financial
worries evident in his voice. "Rent alone consumes over 65% of my income.
It's a constant struggle to put food on the table."

 

In an interview with Addis Standard, Lombebo vividly described the daily
anxieties he faces.

 

"Prices fluctuate wildly," he explained. "Something you bought yesterday
could cost 30, 40% more today."

 

His adaptation strategy is sobering: reducing meals to twice a day and
walking long distances to avoid unaffordable transportation costs.

 

Lombebo's struggle isn't unique. Ethiopia's economy, battered by the ripple
effects of the COVID-19 pandemic and consecutive internal conflicts, has
left public servants like him reeling under the weight of inflation.

 

Lombebo's experience is not isolated.

 

Milkessa Mohammed, a government employee and teacher residing in the West
Arsi Zone of the Oromia region, grapples with a similar challenge. His daily
life has become a precarious balancing act between the demands of survival
and the sacrifices necessary to fulfill his responsibilities.

 

With his modest salary of 8,000 birr after tax, more than 60% goes to house
rent, leaving little for food, school fees, and other essentials. The rest,
he says, is a struggle to stretch across a growing list of needs.

 

"We are praying just to feed our families and raise our children," Milkessa
said. "Saving is unthinkable."

 

To make ends meet, Milkessa spends his vacation days painting houses, a
skill he picked up from a former colleague. "It's the only way I can cope,"
he stated. "However, the extra work offers only temporary relief."

 

Inflation, Taxes, and the Daily Sacrifices

 

In recent months, the government has implemented various policies aimed at
increasing revenue from both tax and non-tax sources. These measures have
included an increase in public service fees.

 

Notably, the Ethiopian Electric Utility (EEU) implemented a significant
tariff reform on 11 September, 2024, resulting in a substantial 122%
increase in electricity rates.

 

Furthermore, the Addis Ababa Driver and Vehicle Licensing and Control
Authority has increased service change fees from 17,100 birr to 30,000 birr.
Additionally, the Ethiopian Immigration and Citizenship Service (ICS) has
raised passport fees. The cost of a new passport is now set at 5,000 birr,
while expedited services can cost up to 25,000 birr.

 

Alongside these fee increases, the government is revising tax laws to boost
tax revenue. The changes include adjustments to property tax rates,
revisions to value-added tax (VAT) and excise tax regulations, and the
introduction of new taxes, such as property and environmental levies.

 

Just last week, the Ethiopian Electric Utility announced the implementation
of a value-added tax (VAT) on consumption bills for the use of more than 200
kilowatt-hours of electricity per month.

 

The recent fuel price hike of up to eight birr per liter has further
exacerbated economic challenges, driving public transportation fees to more
than double.

 

We are praying just to feed our families and raise our children." Milkessa
Mohammed, a government employee and teacher

 

In August 2024, Ahmed Shide, Minister of Finance, emphasized that a primary
goal of the tax reform policy is to substantially increase the tax-to-gross
domestic product (GDP) ratio. Currently, this ratio stands at 6.8%,
significantly below the International Monetary Fund's (IMF) recommended
minimum of 15%.

 

The importance of the minister's remarks became evident during the
swearing-in of Ambassador Taye Atske-Selassie as Ethiopia's new president at
a joint session of the House of People's Representatives and the House of
Federation in early October 2024.

 

In his inaugural address to the joint session, President Taye outlined the
government's primary objectives for the current fiscal year, stating, "The
government's key objectives for the current fiscal year is to raise
government revenue to 1.5 trillion birr."

 

According to the National Medium-Term Revenue Strategy, published by the
Ministry of Finance in August 2024, the Ethiopian government aims to
increase the tax-to-GDP ratio to 30% by the end of 2028 through the adoption
of various policy reforms.

 

"The tax reform program is expected to play a crucial role in significantly
reducing the country's debt burden while maintaining its growth trajectory,"
Ahmed noted.

 

Henok Fasil (PhD), a consultant at the United Nations Economic Commission
for Africa, agrees that enhancing these revenues can indeed support economic
growth by funding essential public services and infrastructure. However, he
emphasizes that the success of such measures hinges on their careful design
and effective implementation.

 

"If revenue-boosting strategies disproportionately burden low-income
households, as the recent measures reveal, they may hinder economic growth
by reducing disposable income and consumption," Henok stated. "Therefore,
while increasing revenues is important, it must be balanced with equitable
policies to avoid adverse effects on the economy."

 

Merid Tullu, a macroeconomist currently employed in the private sector,
explained that revised tax laws, which increase income tax, sales tax, or
VAT, place a disproportionate financial burden on lower-income households.

 

"Since these households allocate a significant portion of their income to
necessities, any rise in consumption taxes substantially increases their
cost of living," he noted. "This, in turn, can result in public discontent
and, in extreme cases, political instability."

 

Merid's assertion is substantiated by the violent clashes that erupted
between police and protesters in Nairobi, Kenya, in June 2024. These
confrontations were sparked by widespread opposition to proposed tax
increases in a country already grappling with rising living costs.

 

The proposed legislation, which included a $2.6 billion tax hike, was
designed to bolster government revenue as part of the conditions tied to a
$2.34 billion loan extended by the IMF in April 2021 under a 38-month
agreement.

 

The tax measures outlined in the bill would have significantly raised the
prices of essential goods, such as bread, sugar, and petroleum,
disproportionately burdening low-income and working-class communities.

 

However, in the face of these violent protests, which tragically resulted in
the deaths of at least 39 individuals and left hundreds injured, President
William Ruto ultimately withdrew the Finance Bill 2024.

 

However, Ethiopian officials maintain that there is potential to increase
tax revenue without imposing an excessive burden on the population. To
substantiate this claim, authorities point to neighboring countries such as
Kenya, Uganda, and Rwanda, which exhibit higher tax-to-GDP ratios compared
to Ethiopia.

 

With a GDP of $116.3 billion, Kenya's current tax-to-GDP ratio stands at
14%, according to the IMF. In contrast, Ethiopia, with a GDP of $145
billion, has only managed to collect tax revenue amounting to less than 10%
of its GDP.

 

While the government asserts that these measures are vital for sustaining
economic growth, experts stressed that they have contributed to a rising
cost of living, placing substantial strain on low-income households and
fixed-wage earners.

 

According to Henok, increasing taxes and public service fees can raise the
cost of living, disproportionately impacting lower-income households. He
noted that these households allocate a larger portion of their income to
essential goods and services, making them particularly vulnerable to price
increases.

 

Henok further emphasized that increased taxes and fees can force low-income
families to make difficult choices between essential needs such as food,
housing, and healthcare.

 

"This financial strain can lead to reduced access to necessary services,
negatively impacting their quality of life and perpetuating cycles of
poverty," he argued.

 

According to Lombebo, the government's attempts to increase revenue have
only worsened the situation, squeezing the life out of ordinary citizens.

 

Milkessa also believes the government is out of touch with the realities
faced by ordinary citizens.

 

"Government officials don't understand the daily struggles we endure," he
emphasized. "How can they expect us to thrive when we can barely survive?"

 

IMF's 'Friendly' or 'Harmful' Policy?

 

The revenue-boosting initiatives, which place additional strain on low- and
fixed-income earners like Lombebo and Milkessa, are part of the government's
efforts to secure urgently needed foreign currency-denominated loans from
Bretton Woods institutions such as the IMF and the World Bank.

 

Despite Ethiopia's active pursuit of financial assistance from the IMF since
2021, no tangible progress was achieved until the government made a pivotal
decision in late July 2024: to transition to a market-based foreign currency
regime, abandoning the previous crawling peg exchange rate system.

 

Any rise in consumption taxes can result in public discontent and, in
extreme cases, political instability." Merid Tullu, a macroeconomist

 

Following this crucial decision, the IMF announced its approval of a $3.4
billion loan to Ethiopia over a four-year period, contingent upon the
successful implementation of an economic reform program.

 

Similarly, the World Bank's Board of Executive Directors approved a $1
billion grant and a $500 million concessional credit from the International
Development Association (IDA) to support the second phase of the Homegrown
Economic Reforms, initiated by the government in July 2023.

 

These funds are part of the approximately $10.7 billion that Ethiopia
expects to secure through a combination of loans, grants, and debt
re-profiling arrangements.

 

Merid generally views Ethiopia's relationship with the IMF as mutually
advantageous. However, he emphasizes the importance of policymakers striking
a balance between external demands and domestic priorities.

 

"It is imperative that the welfare of Ethiopian citizens remains paramount
in economic decision-making to avoid jeopardizing national development
goals," he noted.

 

Henok also contends that implementing policies that align with international
institutions like the IMF can offer several benefits, such as access to
financial support and enhanced credibility in global markets. However, he
strongly emphasizes the crucial need to tailor these policies to Ethiopia's
unique economic context and development goals.

 

"Blindly adopting external recommendations without considering domestic
realities may lead to unintended negative consequences," Henok argued.
"While collaboration with external actors is beneficial, policies should be
adapted to serve Ethiopia's best interests."

 

Following the government's implementation of macroeconomic reforms, the
nation, particularly the capital city of Addis Abeba, has experienced a
notable increase in prices for a diverse range of consumer goods. This has
prompted a government crackdown on businesses accused of engaging in price
gouging and hoarding activities.

 

A survey conducted by Addis Standard across various markets within Addis
Abeba revealed a significant surge in prices for certain products,
particularly imported goods and essential domestic commodities such as oil,
sugar, and onions.

 

Amid widespread reports of inflation and rising taxes driving even employed
citizens into financial hardship, the life of Amanuel Abeje, a public
servant in Bahir Dar, has become a relentless struggle of sacrifice.

 

Once able to manage his household expenses with careful budgeting, the rapid
rise of living costs has shattered any semblance of stability. "Saving is a
thing of the past," Amanuel told Addis Standard. "Everything has
exponentially increased. I feel the cost of living weekly, if not daily."

 

To make ends meet, Amanuel has had to upend his life. His once-stable social
routines and daily comforts have become distant memories. He moved to a
smaller, cheaper house farther from work, walks home every day to save on
transportation, and has begun skipping meals--often using fasting periods as
a justification for eating less.

 

"It's not just about essentials anymore," he explained.

 

Finding a Way Forward

 

Officials assert that the government is undertaking various measures to
address the price surges associated with the reforms, including a salary
adjustment for public sector employees.

 

Speaking at a recent press briefing, Minister Ahmed explained that this
salary adjustment became necessary in light of the macroeconomic reforms,
which are "expected to place additional financial strain on fixed- and
low-income earners."

 

"The salary adjustment aims to mitigate the rising cost of living for civil
servants," he emphasized.

 

Despite promises of a salary adjustment, civil servants and fixed-income
households feel abandoned by policies that seem disconnected from reality.

 

"The new salary adjustment is not enough to offset the relentless
inflation," Lombebo lamented, pointing to the plunging value of the birr and
skyrocketing living expenses.

 

Amanuel also noted that the post-tax salary increase provided minimal
relief.

 

"While initially hopeful," he explained, "inflation has significantly eroded
the salary increase. My net gain is only 700 birr."

 

Experts indicate that recent salary increases for civil servants can help
offset some inflationary pressures. However, they assert that without
broader measures, such as progressive taxation, targeted tax breaks, and
improvements in tax administration, the benefits may be limited.

 

"Without mitigating measures, such as targeted subsidies or social safety
nets, these policies may exacerbate poverty and inequality," Henok
highlighted.

 

Scholars also contend that the rising inflation rate is a key driver of
increased government expenditure, which subsequently compels the state to
seek additional revenue from its citizens. They argue that this cycle
creates a vicious circle, wherein inflation leads to heightened government
spending, which, in turn, triggers further price increases as the government
attempts to raise revenue through tax and non-tax sources.

 

Life has become harder, and I fear it might get worse." Lombebo Mulatu, a
civil servant

 

In June 2024, the House of Peoples' Representatives approved a substantial
budget for the current fiscal year, amounting to 971 billion birr.

 

Despite allocating a budget approaching one trillion birr, legislators in
November 2024 approved a significant supplementary budget proposed by the
executive branch, amounting to 581.98 billion birr. This adjustment brought
the total budget for the fiscal year to over 1.5 trillion birr.

 

However, government officials have consistently emphasized that the
inflation rate is under control.

 

During a parliamentary session on 31 October, 2024, Prime Minister Abiy
Ahmed reported a reduction in headline inflation, which had decreased from
28% the previous year to 17.2% as of September 2024.

 

In a subsequent parliamentary session held in early December 2024, Kassahun
Goffe (PhD), Minister of Trade and Regional Integration, highlighted that
enhanced supply mechanisms and the enforcement of price control measures had
successfully lowered the food inflation rate from 29.2% in October 2023 to
the current rate of 19%.

 

Despite intense scrutiny from lawmakers regarding the escalating prices of
essential household and food items, Kassahun affirmed that, following the
introduction of macroeconomic reforms, daily market monitoring and
regulatory measures have been actively enforced. These efforts, he stated,
include actions against traders responsible for contributing to the rising
cost of living.

 

Experts suggest that businesses facing higher taxes may pass these costs on
to consumers through increased prices, potentially contributing to
inflation.

 

Henok noted that this practice disproportionately impacts low-income
individuals who have less financial flexibility to absorb price hikes. To
prevent such outcomes, he recommends balancing tax policies with measures
that support business growth and protect consumers.

 

Merid proposed that implementing progressive taxation, providing targeted
tax breaks, and enhancing tax administration could significantly mitigate
the negative consequences of increased taxes and fees.

 

"By ensuring that wealthier individuals and businesses contribute a fairer
share, the government can reduce the financial burden on low-income
households and promote a more equitable economic system," he added.

 

Henok concurs, stating, "The government's approach should be balanced to
avoid overburdening citizens, particularly low-income households. Effective
strategies should also encompass prudent fiscal management, efficient public
spending, and economic reforms that foster sustainable growth."

 

For now, as the rapidly rising cost of living continues to impact people
across the country, Amanuel fears for the future.

 

"Hope is dwindling," he said. "Life has become harder, and I fear it might
get worse."

 

Lombebo shares Amanuel's sentiment.

 

"It's a daily struggle, battling against rising prices and dwindling
resources," he emphasized. "You just try to survive and hope for a better
tomorrow."

 

Addis Standard.

 

 

 

Mozambique: Japanese Bank Criticized for Financing Mozambique LNG Project
Blamed for Displacement

Nairobi — Climate and environmental activists from Japan have criticized the
Japan Bank for International Cooperation (JBIC) for financing the
controversial Mozambique Liquefied Natural Gas (LNG) project to the tune of
USD 3 billion in a loan signed in July.

 

The project has been associated with the displacement of thousands of people
and is in violation of Japan's G7 commitment to end direct public support
for overseas fossil fuel projects.

 

The bank's action is also projected to have far-reaching effects on climate
and the environment, further negatively impacting the livelihoods of
communities in the restive Cabo Delgado province in the north of the county,
a report says.

 

Conflict in the region has been linked to insurgency and human rights abuses
by the country's security forces.

 

In the report "Faces of Impact: How JBIC and Japan's LNG Financing Harm
Communities and the Planet" by Friends of Earth (FOE), Japan activists find
that in Mozambique, at least 550 families were displaced for the Rovuma LNG
project, exposing them to risk as it is situated in a conflict-torn region
and has been linked to human rights abuses of civilians.

 

The project is further backed by the Japanese bank through a loan of U$536
million to Mitsui, a Japanese corporate group, also one of the owners of the
project, and which describes the project as "one of the largest natural gas
reserves discovered anywhere in the world in recent years."

 

The money will finance the development and production of LNG in a region
where thousands of civilians have been displaced by both violence and the
gas development activities since 2012, some without compensation for their
land.

 

The LNG project intends to extract 65 trillion cubic feet of natural gas,
which will be done offshore in the Rovuma Basin and piped to an onshore LNG
processing plant on the Afungi Peninsula.

 

"The project began its onshore construction activities in 2019 but was
suspended in 2021 as a result of violent conflict. It has not officially
resumed, but some of its activities have been restarted since 2023," the
report explains. The insurgency remains active, and human rights
infringements resulting from the project activities remain unresolved, it
further cautions.

 

"The Mozambique LNG project is linked to violent conflict, has resulted in
social injustices on Mozambican citizens, and is a potential source of
massive carbon emissions. It has already cost the country productive lands,
local economies, and valuable natural areas," it warns.

 

Should the project proceed as planned and despite becoming the biggest gas
project in Africa, it will deliver low revenues to the host country and
place the country at risk of liability if it fails, the report opines.

 

Owned by a consortium of seven companies, including the Mozambique state
company Empresa Nacional de Hidrocarbonetos (ENH). All except ENH control
their shares through offshore companies, with TotalEnergies being the
majority owner and operator.

 

It finds that there is a "pattern of harm and destruction" in JBIC-financed
gas projects, and communities have conveyed to the bank that it is violating
its own "Guidelines for Confirmation of Environmental and Social
Considerations."

 

According to Kete Fumo of the advocacy group Justiça Ambiental and Friends
of Earth Mozambique, the project is indirectly contributing to the
insurgency that has plagued the region for years.

 

"People in at least 17 districts are exposed to terrorist attacks. Some
families in Palma district, for example, have been displaced but have not
been offered any compensation yet. They had lots of extensive land, but not
anymore; they have lost their only source of sustenance," she said during a
webinar to launch the report hosted by FOE Japan.

 

By 2018, when the census of affected communities in Palma was updated, some
616 families were identified, and another 1,847 families were found to be
"economically affected" by the loss of their farmland handed over to the
project, added Fumo.

 

"The environmental issues surrounding the project are already very visible,
with accentuated erosion, increased weather events, and the fact that it is
considered one of the six carbon bombs in the world, with Mozambique being
one of the African countries most vulnerable to climate change," she told
IPS in an interview.

 

Failure to comply with compensation agreements entered between the affected
and TotalEnergies posed a big problem for communities that, due to the lack
of land for cultivation, now produce much less food than they did before the
project arrived.

 

This has left them exposed to food insecurity, with fishing communities
lacking access to fishing areas contributing to hunger in the villages.

 

"The insecurity scenario in Palma also makes accessibility to the district
deficient, which makes the price of basic necessities more expensive in a
community where families' sources of income have been cut off by the
project. People need to reinvent themselves to be able to support their
families, but this is a scenario where not everyone has the capacity or
conditions to do so," the activist added.

 

She called for the abandonment of the project, saying that "not implementing
the project and leaving people living in their homes with their livelihoods,
culture, and traditions has been the call made by Justica Ambiental since
the beginning of this process."

 

"In the history of Mozambique and in our experience with mega projects, no
resettlement has had positive results. The call continues to be that this
project should not be implemented, since even before a drop of gas had been
exploited, the impacts were already negatively affecting the communities,"
Fumo appealed.

 

In one of the affected villages of Macala, 50 kilometres off the Indian
Ocean coastline, residents claimed they had lost not less than 7,000
hectares of land alienated for LNG exploration and development, with no
compensation so far.

 

One of the victims, Omar Amise, said, "We have received no compensation so
far, and our lands have been destroyed by new infrastructure, including
roads. Our children are starving because our lands have been taken by
roads."

 

According to the United Nations High Commission for Refugees (UNHCR), by
January 2024, over 582,000 were still displaced in Cabo Delgado province,
due to recurring attacks on civilians and governmental forces by "Non-State
Armed Groups" since 2017. The numbers grew to over one million at the height
of the conflict in 2021 and 2022, adds the UN agency.

 

>From the end of December 2023, over 8,000 people have also been newly
displaced as a result of attacks by insurgents in the province's Macomia,
Mecufi, Metuge, Mocímboa da Praia, Muidumbe, and Quissanga districts, adds
the UNHCR.

 

An article published in September 2024 by the magazine Politico alleged that
a Mozambican army unit operating near the Mozambique LNG project site
carried out a series of atrocities, including rape, torture, and the murder
or disappearance of at least 97 people.

 

It claimed that TotalEnergies was aware of the atrocities by the army in the
wider area, while it paid a Joint Task Force made up of army soldiers,
commandos, and paramilitary police for its LNG site protection.

 

Back to the FOE report, it claims that since 2016, JBIC has provided a
staggering UD18.6 billion to fossil gas expansion--four times more than
Japan's contribution to the Green Climate Fund.

 

The bank is also blamed for supporting similar fossils energy projects
amounting to USD18.5 billion in the Philippines, Indonesia, Bangladesh,
Thailand, Australia, Vietnam, and the United States

 

Our enquiries on the claims made by FOE were answered by either the French
Energy multinational or JBIC.

 

IPS UN Bureau Report

 

 

 

 

 

Liberia: 2025 Budget Illegal?

Monrovia — -As Senate concurs with Majority bloc on US$880.07m budget
passage

 

The Liberian Senate concurrence with the House Majority bloc on the passage
of the 2025 National Budget has raised questions of its legality amidst the
recent controversial Supreme Court ruling.

 

Amidst the legality hanging over Representatives Richard Koon's
"Speakership," the Liberian Senate over the weekend concurred with the
Majority bloc of the House of Representatives on the passage of the Fiscal
Year 2025 National Budget of US$880.07 million.

 

Members of the Liberian Senate took the decision late Friday, December 20,
2024, following a motion from Grand Kru County Senator Numene Bartekwa.

 

But embattled House Speaker Fonati Koffa, who remains the legitimate
Speaker, has described both the Senate and the Majority bloc action as ultra
vires.

 

Meanwhile, of the 30 senators, 19 voted in favor of the budget's passage.

 

Earlier, the majority bloc of the House of Representatives passed the budget
during a special emergency session at the Monrovia City Hall (MCC).

 

The House members held their special session at the City Hall following a
fire incident that ravaged the Joint Chamber of the Legislature, where they
had been meeting throughout political turmoil with the minority bloc.

 

In November, the majority bloc voted to remove Speaker Jonathan Fonati
Koffa, but he has termed his removal illegal.

 

The majority bloc subsequently elected Montserrado County Representative
Richard Nagbe Koon as the new House Speaker.

 

A Supreme Court intervention did not resolve the political turmoil.

 

A violent protest ensued on Capitol Hill last week Tuesday in the wake of
Koffa's removal before the fire destroyed the chamber a day after.

 

Following the passage of the 2025 National Budget by the two legislative
chambers, embattled House Speaker J. Fonati Koffa labeled it as ultra vires.

 

When an action is considered ultra vires, it depicts that a person or an
entity that took such action had done so without legal authority.

 

New Dawn.

 

 

 

 

Mozambique: Exam Boycott Affected About 35,000 Students

Maputo — Mozambique's National Association of Teachers (ANAPRO) has claimed
that the teachers' boycott of final exams in primary and secondary schools
affected about 35,000 students across the country.

 

The teachers in the Mozambican National Education System have been demanding
payment for overtime work that the government has owed them for three years.

 

According to an ANAPRO statement, as a result of the boycott, the admission
of final-year students to university and vocational technical education is
compromised "since many did not take their exams this year and others will
only have their exams corrected during the holiday period.'

 

"There are currently more than 100 schools that have boycotted exams across
the country, which consequently compromises the programmes for the 2025
school year. Meanwhile, we don't understand the government's position in
announcing that overtime payments are being made', reads the note.

 

The document says that overtime is being paid only partially, sporadically
and without clarity on the amounts of money involved.

 

"Of the schools involved in the boycott and the demands, there are around
2,000 teachers, many of whom have received overtime for 2023 partially, with
serious deficiencies in the payment of overtime for 2022 as well. So far, no
money has been disbursed for 2024', ANAPRO says.

 

The teachers believe that the procedure adopted by the government is
generating more frustration, due to the discrepancies and lack of clarity
about the amounts, as well as the fact that in some schools payments are
being made to some teachers at the expense of others.

 

"The government is ignoring the events of the last few days and teachers
will continue to enjoy their rights [to demonstrate]. However, the students
and society must be informed in good time by the organization responsible
for managing the national education system about the next steps', it says.

 

On the other hand, the association denounces the fact that some exams were
carried out without the proper monitoring by teachers, others were
supervised by administrative officials and still others by people invited by
the district directorates.

 

In addition, there was violent intervention by the police during the process
and abuse against the students in order to meet the targets (students
sacrificed their free time, arriving at school at 07.00 to sit exams at
13.00 because of the demonstrations).

 

 

 

Kenya: Southern Bypass Closed for Maintenance From Dec 24 to Jan 5

Nairobi — The Kenya National Highways Authority (KeNHA) has announced the
temporary closure of a section of the Nairobi Southern Bypass to facilitate
critical maintenance and rehabilitation works.

 

The affected stretch, between the Ole Sereni Interchange and the Ngong Road
Interchange, will be closed on both carriageways from Tuesday, December 24,
2024, at 8:00 PM, until Sunday, January 5, 2025, at midnight.

 

"This is to enable the rehabilitation of the expansion joints of all the
bridges along the closed section as well as the reconstruction of the
concrete pavement of the Virtual Weighbridge," KeNHA Director General Kung'u
Ndung'u stated on Monday.

 

To minimize inconvenience to motorists, KeNHA has provided alternative
routes. During the closure, traffic will be diverted through Mombasa Road
(A8) Highway, Lang'ata Road, and Ngong Road.

 

Motorists are advised to adhere to the proposed traffic management plan and
follow instructions from police officers and traffic marshals stationed at
strategic points to ensure smooth traffic flow.

 

KeNHA has apologized for any inconvenience caused and reiterated its
commitment to enhancing road safety and infrastructure quality for all
users.

 

About The Author

 

BRUHAN MAKONG

 

Bruhan Makong reports on security, human rights, and global affairs. He is
passionate about uncovering the truth, amplifying the voices often drowned
in silence, and holding those in power to account. Capital FM.

 

 

 

 

Ethiopia: World Bank's $700 Million Loan Targets CBE Restructuring,
Financial Overhaul of Nbe and Dbe

Addis Abeba — The World Bank has approved a $700 million loan to strengthen
the stability of Ethiopia's financial sector, with a particular focus on
supporting balance sheet restructuring and the recapitalization of the
state-owned Commercial Bank of Ethiopia (CBE).

 

The credit provided under the Financial Sector Strengthening Project (FSSP)
is also earmarked to modernize the regulatory and supervisory framework of
the National Bank of Ethiopia (NBE) and to transform the Development Bank of
Ethiopia (DBE) into a sustainable development finance institution.

 

"By boosting the capacity of key financial institutions, we aim to build a
more resilient and accessible financial system that truly meets the needs of
all Ethiopians," said Maryam Salim, World Bank Country Director for Eritrea,
Ethiopia, South Sudan, and Sudan.

 

Last month, the House of Peoples' Representatives approved a proposal to
increase the capital of CBE by an additional 54.6 billion birr.

 

Legislators also passed a bill aimed at addressing approximately 845.4
billion birr in non-performing loans accumulated by state-owned enterprises
(SOEs) at CBE.

 

The law grants the Ministry of Finance the authority to issue 10-year local
Treasury bonds, with the proceeds allocated to settle the debts owed to CBE
by state-owned firms. The government will have a three-year grace period
before beginning the repayment of these bad debts through the issuance of
Treasury bonds.

 

Addis Standard.

 

 

 

South Africa: Preferred Bidders Chosen for Renewable Energy Bid Windows

Eight solar PV projects - with a combined contracted capacity of some 1
760MW - have been appointed as preferred bidders under the Renewable Energy
Independent Power Producer Procurement Programme (REIPPPP) Bid Window 7.

 

A further eight projects have also been appointed through the Battery Energy
Storage Independent Power Producer Procurement Programme (BESIPPPP) Bid
Window 2.

 

REIPPPP Bid Window 7

 

The Department of Electricity and Energy on Monday said the eight solar
projects were appointed from a pool of some 48 bid responses.

 

"Total investments from the eight Solar PV Preferred Bidders in this Bid
Window is R31.4 billion. South African Equity Participation of 49% across
all the Preferred Bidders and average Black Economic Empowerment
participation of 46% have been committed in this Bid Window," the department
said.

 

Some 6 971 job opportunities - measured in job years - are expected to be
created through the projects.

 

"These projects will allocate 38.8% of their total project costs to local
content, equating to R7.8 billion during construction and R2.4 billion
during the operation and maintenance phases.

 

"The preferred bidders have also undertaken to invest R3 billion in Black
Enterprise Procurement, R2 billion in B-BBEE Procurement on Qualifying Small
Enterprises (QSEs) and Exempt Micro Enterprises (EMEs), and an additional
R333 million in B-BBEE Procurement, specifically for black women.

 

"Furthermore, the preferred bidders have undertaken to spend a total of R73
million in Enterprise Development, R129 million in Socio-Economic
Development, and R138 million in Skills Development initiatives over the
lifetime of the projects," the department said.

 

BESIPPPP Bid Window 2

 

The department said it received 31 bid responses for BESIPPPP Bid Window 2,
with the eight chosen bidders coming with a combined total investment of
some R12.8 billion.

 

"The eight preferred bidders have committed to 41% black shareholding in the
IPP Project Companies, up to 27% shareholding by construction contractors,
and up to 36% in operations contractors.

 

"The preferred bidders have committed to creating a total of 1 570 job
opportunities for RSA citizens - measured in job years - during construction
and operations.

 

"These projects will allocate 31% of their total project costs to local
content, equating to R2.6 billion during construction and R2.5 billion
during the operation and maintenance phases," the department said.

 

A further R1.8 billion will be invested in Black Enterprise Procurement,
R1.4 billion in B-BBEE Procurement on Qualifying Small Enterprises and
Exempt Micro Enterprises, and an additional R659 million in B-BBEE
Procurement, specifically for black women.

 

"The preferred bidders have also committed to spend R316 million on supplier
development, skills development, bursaries for black students, skills
development for black disabled people, and socio-economic development
initiatives over the lifetime of the projects," the department concluded.

 

SAnews.gov.za.

 

 

 

Ethiopian Coffee Exports Surge Due to Recent Reforms

Addis Ababa — The Ethiopian Coffee and Tea Authority has disclosed a
significant surge in Ethiopian coffee exports in both volume and income,
attributed to ongoing reforms aimed at boosting coffee production and
productivity.

 

Shafi Umar, Deputy Director General and Head of Marketing at the Authority,
told ENA that coffee exports have expanded rapidly since 2021, driven by
sector reforms.

 

He noted that while Ethiopian coffee exports historically saw a modest
increase of 75,000 tons over 20 years, recent years have witnessed a much
quicker rise.

 

Last year, Ethiopia exported 298,000 tons of coffee, generating 1.43 billion
USD in revenue and this year, the country plans to increase exports to
400,000 tons, aiming to earn over 2 billion USD.

 

By the mid-point of the fiscal year, Ethiopia is on track to generate 1
billion USD from the export of more than 200,000 tons of coffee.

 

"Providing high-quality coffee on time increases demand, which in turn
boosts both export volume and income," the deputy director said adding "the
last five months, Ethiopia surpassed its export target of 117,000 tons,
achieving over 178,000 tons".

 

According to Shafi, this represents a 72 percent increase in volume and a 55
percent increase in revenue compared to the same period last year.

 

The government's focus on coffee, the ongoing reforms, and the Green legacy
Initiative have all played key roles in these achievements.

 

The Green Legacy Initiative spearheaded by Prime Minister Abiy Ahmed, has
been particularly instrumental in promoting large-scale coffee planting,
revitalizing old coffee plantations, and increasing both production and
income.

 

Shafi also explained that by streamlining the coffee supply chain, coffee
suppliers and exporters are now able to communicate and trade more directly,
ensuring the timely delivery of quality coffee.

 

He also disclosed that additional 40 farmers were recently recognized in the
2024 Special Flavor Coffee Tasting Competition held in Hawassa city.

 

The National Coffee and Spices Fair was also held, emphasizing the theme
"Direct Link Marketing for the Success of Our Prosperity," which aims to
strengthen the relationship between farmers, suppliers, and exporters.

 

ENA.

 

 

 

Uganda: Vivo Energy Trains Drivers for Festive Season

Kampala — Vivo Energy Uganda, distributor and marketer of Shell-branded
fuels and lubricants, has launched a defensive driving training program for
public transport operators. This initiative aims to enhance the driving
skills of drivers and boda boda riders, preparing them for increased travel
during the festive season. The training is part of the National Road Safety
Awareness Month.

 

According to the 2023 Annual Police Crime Report, Uganda recorded an average
of 13 road crash fatalities daily, a slight increase compared to previous
years. Vulnerable groups like pedestrians and motorcyclists remain the most
affected, constituting 36% and 33% of fatalities, respectively. The report
attributes many incidents to reckless driving, speeding, overloading, and
inadequate vehicle maintenance.

 

Speaking at the launch of the training sessions recently, Valery Okecho,
Corporate Communications Manager at Vivo Energy Uganda, highlighted the need
for behaviour change among road users.

 

"A greater percentage of road crashes globally are attributable to human
error. With the right interventions, such as these training workshops, we
can significantly reduce the toll of road crashes. Vivo Energy Uganda is
committed to supporting government efforts to enhance public transport
safety and ensure that more Ugandans reach their destinations safely."

 

Reliance on public transport, including buses, minibuses, and motorcycles
(boda bodas), underscores the urgency of improving road safety. Statistics
from WHO indicate that low--and middle-income countries, including Uganda,
bear the highest burden of road-related fatalities, with a mortality rate of
29 per 100,000 people.

 

Okecho also emphasised the responsibility of public transport operators: "In
the hands of drivers lie the lives of many passengers. By reskilling these
operators in defensive driving, we aim to save lives during this festive
season and beyond."

 

"As we approach the festive season, this defensive driving training workshop
is a vital initiative that is both timely and essential to promote road
safety, which is crucial in saving lives and reducing road crashes through
responsible road use," said SP Micheal Kananura, the spokesperson for the
Uganda Police Directorate of Traffic and Road Safety.

 

"I commend Vivo Energy Uganda for its sponsorship of this impactful program.
I urge all participants and motorists to embrace the lessons shared here and
apply them on our roads. Safe driving is not only a personal responsibility
but also a cornerstone of national development."

 

To date, Vivo Energy Uganda has trained over 5,000 boda boda riders and
drivers and facilitated road safety awareness programs in 150 schools,
developing thousands of safety ambassadors.

 

The company's road safety awareness campaigns, such as 'Tweddeko,' imparted
safer road use skills to the public, while its 'HeadsUp' initiative has
distributed over 2,000 free child safety helmets to school children in over
50 public schools countrywide.

 

Vivo Energy Uganda continues to leverage its expertise by employing Journey
Management systems, monitoring driver behaviour through onboard computers,
and promoting best practices in road safety through reward-based
initiatives.

 

The next phase of training will target drivers operating along the Western,
Northern, and Southwestern highway routes out of the capital city.

 

Independent (Kampala).

 

 

 

Nigeria's Pbr Life Sciences Raises $1m to Expand Healthcare Analytics

PBR Life Sciences, a healthcare data analytics company, has raised $1
million in pre-seed funding to enhance its AI infrastructure and expand
operations into Ghana and Kenya. Backed by investors including Launch
Africa, Microtraction, and Techstars, the funds will support its mission to
provide data-driven insights for Africa's pharmaceutical sector.

 

Founded in 2015 by Ayodeji Alaran, PBR pivoted to healthcare analytics in
2021. The company aggregates anonymized data on drug quantities, prices, and
purchase frequencies from pharmacies, helping pharmaceutical giants like
Sanofi optimize production, pricing, and demand forecasting.

 

PBR's AI-powered dashboards offer insights on market share and consumption
trends, while its generative AI feature enables users to create custom
analytics through specific queries. Clients include pharmaceutical firms,
consulting companies, NGOs, and multilateral organizations.

 

You can follow Daba's reporting on Africa on WhatsApp. Sign up here

 

Key Takeaways

 

PBR addresses inefficiencies in Africa's pharmaceutical sector, where
overproduction often results from limited market data. By aligning
production with actual demand, the company helps reduce waste and improve
supply chain efficiency. The funding validates the growing role of
healthcare big data in driving innovation. As PBR scales its operations, its
analytics capabilities have the potential to reshape pharmaceutical
strategies and unlock growth opportunities in Africa's life sciences sector.
Participation in the ARM Labs Lagos Techstars Accelerator underscores PBR's
appeal as a high-growth startup at the intersection of AI and healthcare.

 

Daba Finance.

 

 

 

 

South Africa Awards 1,760 Mw of Projects in Green-Energy Push

South Africa has allocated 1,760 megawatts of renewable energy projects to
eight companies as part of its plan to reduce reliance on coal.

 

The seventh bid window of the renewables program received 40 bids for 1,800
megawatts, but only projects in Mpumalanga, Limpopo, Free State, and North
West provinces were awarded due to constrained grid capacity, said
Electricity Minister Kgosientsho Ramokgopa.

 

Infinity Power Holding SA will lead six of the projects, while Mulilo
Renewable Project Developments and Scatec Solar Africa Pty. will each
develop one. Project sizes range between 150 MW and 240 MW. The government
also awarded contracts for 615 MW of battery storage at Eskom sites, with
Mulilo leading five projects, AMEA two, and EDF one.

 

You can follow Daba's reporting on Africa on WhatsApp. Sign up here

 

Key Takeaways

 

South Africa's reliance on coal for over 80% of its electricity remains a
challenge as grid limitations hinder renewable energy deployment. Despite a
$1.5 trillion-rand plan to expand renewable energy, green hydrogen, and EV
industries, as well as $9.3 billion in climate finance through the Just
Energy Transition Partnership, progress is slowed by inadequate transmission
infrastructure. The government has a 390 billion-rand plan to expand grid
capacity and plans to seek private-sector involvement, with requests for
proposals expected in late 2025. Until grid constraints are resolved, South
Africa's ability to capitalize on its renewable resources will remain
limited, complicating its energy transition and efforts to reduce frequent
power outages.

 

Daba Finance.

 

 

 

 

Cadbury loses royal warrant after 170 years

Chocolate maker Cadbury has been dropped from the list of royal warrants for
the first time in 170 years.

 

The Birmingham-based chocolatier was awarded its first royal warrant as
chocolate and cocoa manufacturers by Queen Victoria in 1854, but it has lost
its royal endorsement under King Charles.

 

Cadbury's US owners, Mondelez International, said it was disappointed to
have been stripped of its warrant.

 

The King has granted royal warrants to 386 companies that previously held
warrants from Queen Elizabeth II, including John Lewis, Heinz and Nestle.

 

 

Companies holding the Royal Warrant of Appointment, granted for up to five
years, are recognised for providing goods or services to the monarchy.

 

Among the King's new list of warrant holders are many firms selling food and
drink, such as Moet and Chandon, Weetabix and chocolate makers Bendicks and
Prestat Ltd.

 

Warrant holders are allowed to use the coat of arms of the royal they are
associated with on packaging, as part of advertising or on stationery.

 

Earlier this year, the King was urged by campaign group B4Ukraine to
withdraw warrants from companies "still operating in Russia" after the
invasion of Ukraine, naming Mondelez and consumer goods firm Unilever, which
has also been stripped of the endorsement.

 

"Whilst we are disappointed to be one of hundreds of other businesses and
brands in the UK to not have a new warrant awarded, we are proud to have
previously held one, and we fully respect the decision." a Mondelez
spokesperson said.

 

Unilever added it was "very proud" of the long history its brands had
supplying the royal household, most recently receiving a warrant from Her
Majesty Queen Elizabeth II.

 

Getty Images The front of the Cadbury headquarters in Bournville. A large
purple sign with the word Cadbury sits at the front of the grass lawn, with
a large building behind.Getty Images

Cadbury is among the brands and products that have had their warrants
withdrawn under the King in a new list

 

Prof David Bailey, from Birmingham Business School, said the decision to
strip the chocolate manufacturer of its warrant would affect its costs, as
the brand would have to remove it from all packaging.

 

A royal warrant was a "kind of seal of approval," which was thought to bring
significant benefits to the UK economy, he added.

 

Speaking to BBC Radio WM, Prof Bailey said British companies also benefited
from being awarded the royal endorsement.

 

"What is a royal warrant for, if it isn't to help British jobs and British
production?" he asked.

 

Several posters and images advertising Cadbury brands throughout the years.

The chocolate giant marked its 200th anniversary in March

 

The British chocolate giant celebrated its 200th anniversary earlier this
year, after founder John Cadbury opened a grocer's shop selling cocoa and
drinking chocolate in Birmingham on 4 March 1824.

 

The brand expanded when his sons took over the business, eventually building
the Bournville factory which became the biggest cocoa manufacturer in the
world.

 

US food company Kraft took over the brand in a controversial takeover in
2010, with Cadbury going on to become part of its Mondelez division in
2012.-BBC

 

 

 

 

Consultation launched over petrol car phase-out

A consultation has been launched on the phasing-out of new petrol and diesel
cars by 2030.

 

The government says this will "restore clarity" for vehicle manufacturers
and the charging industry.

 

Transport Secretary Heidi Alexander wants industry views from automotive and
charging experts on how to deliver Labour's manifesto commitment to restore
the 2030 deadline.

 

It had been extended to 2035 under the previous Conservative government.

 

The measure comes amid a row between the government and the industry over
the phasing out of the sale of new petrol and diesel cars.

 

Last month, Ford said the UK government's mandate to produce and sell more
electric vehicles (EVs) "just doesn't work" without demand.

 

Lisa Brankin, Ford UK's chair and managing director, told BBC Radio 4's
Today programme on that occasion: "The one thing that we really need is
government-backed incentives to urgently boost the uptake of electric
vehicles."

 

The transport secretary said the automotive industry had been "stifled by a
lack of certainty and direction" over the last few years.

 

"This government will change that," she added.

 

The consultation proposes updates to the Zero Emission Vehicle (Zev)
mandate, which sets out the percentage of new zero emission cars and vans
that manufacturers will be required to sell each year up to 2030.

 

More than two-thirds of car manufacturers in the UK, including Stellantis,
have committed to transitioning fully to electric cars by that year.

 

However, firms have also announced thousands of job cuts, partly because of
EV targets.

 

The Department for Transport said the consultation would "restore clarity
for vehicle manufacturers and the charging industry" so they "have the
confidence to invest in the UK in the long term and drive growth in the UK
automotive industry".

 

The Energy and Climate Intelligence Unit think tank said the UK would meet
its targets because the mandate took into account credits earned from
selling lower-emission hybrid petrol and diesel vehicles, as well as sales
of vehicles that were fully electric.

 

The 22% required to be achieved by each manufacturer is due to be reached as
an average across the industry, according to the think tank.

 

Last month, EVs made up one in four cars sold in the UK, Ms Alexander said,
with drivers "already embracing EVs faster than ever".

 

"Today's measures will help us capitalise on the clean energy transition to
support thousands of jobs, make the UK a clean energy superpower, and
rebuild Britain," she added.

 

The government said the consultation would also be part of a "wider push" to
make it easier and cheaper to charge electric cars.

 

There are now more than 72,000 public charging points in the UK, with
another 100,000 planned by local authorities across England.

 

Mike Hawes, chief executive of automotive industry body the Society of Motor
Manufacturers and Traders, said the automotive industry welcomed the
government's "review of both the end of sale date for cars powered solely by
petrol or diesel, and possible changes to the flexibilities around the Zero
Emission Vehicle Mandate".

 

"These are both critical issues for an industry that is facing significant
challenges globally as it tries to decarbonise ahead of natural market
demand," he added.

 

"With the 2025 market looking under even greater pressure, it is imperative
we get an urgent resolution, with a clear intent to adapt the regulation to
support delivery, backed by bold incentives to stimulate demand," Mr Hawes
said.-BBC

 

 

 

 

When TikTok's underconsumption trend meets festive excess

Christmas is typically a time of excess, but this year TikTokers have been
sharing advice for buying less

Secret Santa, stockings and presents under the tree - gift-giving is at the
heart of Christmas Day.

 

But should it be?

 

This year more people have been exploring underconsumption - the trend where
shopping hauls and miracle must-buys are replaced with reusing beloved
possessions and purchasing less.

 

It's taken off on TikTok, where mentions soared by almost 40,000% in the UK
earlier this year.

 

Experts say it's resonated with younger people affected by the
cost-of-living crisis and concerned about the climate as they look to make
sustainable changes.

 

But can you mix that lifestyle with a time of year many people associate
with overspending and indulgence?

 

 

Underconsumption means buying fewer unnecessary things and making the
products you already own go further.

 

It might not sound that radical, especially if you're used to stretching
your weekly budget.

 

"It's highlighting a behaviour that's quite normal," author and creator
Andrea Cheong tells BBC Newsbeat.

 

"But in the realm of TikTok or Instagram it feels so unnatural it's gone
viral."

 

On platforms built around ads and glamourised lifestyles the hashtag stands
out, and Andrea does believe that underconsumption is different because
"it's a habit, not a trend."

 

"The people who are sharing what they've done in their daily lives, they've
been doing this forever," she says.

 

"They were probably taught by their parents to do it."

 

Andrea Cheong Andrea Cheong pictured outside a shop window. She wears a
green overcoat and an orange tartan-patterned top. She has a blonde bob and
looks at the camera. Andrea Cheong

Andrea Cheong has written a book about how to make more sustainable fashion
choices

 

At Christmas, choosing to buy and consume less can feel like a challenge in
the face of big-budget marketing campaigns, the pressure to share gifts and
the perfectly placed extravagant home decor shared online.

 

"Companies are spending millions of pounds on ads that make you want to go
out and buy that thing right now," says Darwin Alford, a retail worker
living in Brighton.

 

Darwin, who shares sustainability tips online in her spare time, says she
doesn't want presents this Christmas.

 

She admits the "hardest step" is telling your family members.

 

"My nan, she's one of those who loves having all of the gifts under the
tree," she says.

 

"It's her way of showing love, it's her way of making me feel special."

 

Darwin says it pays to be straight-up with loved ones and it helps to
suggest alternative ideas for gifts, such as experiences, rather than
products.

 

Darwin Alford Darwin Alford smiles at the camera while taking a selfie
inside a room painted white. She wears a fluffy pale purple cardigan and a
green beaded necklace, her braided hair worn loose over her shoulders.
Darwin Alford

Darwin Alford says pausing before buying something helps stop impulse buys

 

Influencer Charlie Gill, from Manchester, has been sharing sustainability
tips on social media for six years now and says her content has taken off
since the underconsumption trend began.

 

She's turned her focus on to Christmas, suggesting ways that decorations,
gift wrap and even Christmas dinners can be stripped back.

 

"There are so many small steps anybody can do," she says.

 

"Considering how much food you're purchasing, don't buy things in excess,
make sure you're actually eating your leftovers."

 

Charlie makes her own decorations, and this year she's created a Christmas
tree out of a magazine, as well as "stars out of toilet rolls, all that kind
of thing".

 

Some people aren't fans of the homemade aesthetic and Charlie admits she got
some hate online over a TikTok of her festive decorations last year, but
says it doesn't put her off.

 

"I don't think there's anything wrong with people celebrating Christmas in a
different way," she says.

 

"There are different ways of gifting and creating the kind of Christmas you
want whilst also underconsuming and not creating excess waste."

 

Charlie Gill Charlie Gill rests her head on her hand while leaning on a
white painted chair. She wears a grey T-shirt with a shark printed on it and
smiles at the camera. She has long curly brown hair which she wears
half-up-half-downCharlie Gill

Charlie Gill thinks Christmas can still be special without buying lots of
things

 

Underconsumption might be a new hashtag, but it's not a new idea.

 

"It's not a new concern but it is an enduring phenomenon that's been
labelled in different ways in different times," says Prof Caroline Moraes,
of the University of Birmingham.

 

One example is the voluntary simplicity movement in the 19th Century, she
says, which advocated for an anti-consumerist lifestyle.

 

Prof Caroline, a marketing and consumer expert specialising in sustainable
consumption, says the renewed interest in 2024 can tell us about modern-day
worries.

 

She says it points to a greater concern over the environment and the
cost-of-living crisis but also a greater awareness of brand ethics and where
the things we buy come from.

 

'The part we need to play'

Earlier this year, fast fashion giant Shein said it found two cases of child
labour in its supply chain, some luxury perfumes have also been linked to
child labour and concerns about the fashion industry's environmental
credentials are widely reported.

 

"I think all of us are beginning to realise the part we need to play in
terms of tackling the sustainability challenges and the climate crisis we're
facing," says Prof Caroline.

 

Author Andrea thinks the sudden rise in interest also shows a fatigue with
consumer culture.

 

"I think people like myself are so excited about underconsumption because we
share the same mission, which is 'let's just slow down'," she says.

 

"But really it's rooted in a lack of control over the cost of living."

 

Last week, figures showed prices were rising at the fastest rate since
March.

 

While the cost of turkey and sprouts has driven down the cost of a Christmas
dinner this year, what you pay for potatoes, carrots and parsnips has shot
up.

 

"When life feels chaotic and overwhelming, you're always going to have this
human retreat to something slower," says Andrea.

 

 

Trends come and go but the people Newsbeat spoke to hope that
underconsumption might spark meaningful changes in our shopping habits all
year around.

 

"We are conditioned to believe we need to be consuming more because this is
the time of year to do so," says Prof Caroline.

 

"Trying to reduce consumption goes against the norms of consumer culture.

 

"So I think it's a really good thing these influencers are out there because
they're questioning excessive modes of consuming, they're questioning some
of these lifestyles that have appeared alongside social media and trying to
bring us back to a normal way of consuming."

 

Charlie says she's witnessed conversations in the comments under her videos
and believes "many people are really engaging with it".

 

"It's just about everybody trying to live a little bit more sustainably in
whatever way that is, because every little thing we do is going to make an
impact."-BBC

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

Cellphone:         +263 71 944 1674 | +27 79 993 5557 

Email:                <mailto:bulls at bullszimbabwe.com>
bulls at bullszimbabwe.com

Website:             <http://www.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:                  <http://www.bullszimbabwe.com/blog>
www.bullszimbabwe.com/blog

Twitter (X):        @bullsbears2010

LinkedIn:           Bulls n Bears Zimbabwe

Facebook:           <http://www.facebook.com/BullsBearsZimbabwe>
www.facebook.com/BullsBearsZimbabwe



 

 

 


 

INVESTORS DIARY 2024

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


 (c) 2024 Web:  <http://www.bullszimbabwe.com> www.bullszimbabwe.com Email:
<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
5557 | +263 71 944 1674

 


 

 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241224/3a78fc68/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241224/3a78fc68/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 29356 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241224/3a78fc68/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 29248 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241224/3a78fc68/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241224/3a78fc68/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 29361 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241224/3a78fc68/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65561 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241224/3a78fc68/attachment-0001.obj>