Major International Business Headlines Brief::: 15 November 2024

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Major International Business Headlines Brief:::  15 November 2024 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Kenya: Ruto Appoints Arita As New CBK Deputy Governor

ü  Kenya: Foreign Firms to Be Excluded From Tenders Below Sh1bn

ü  Malawi: Kabambe Says Malawi's Economy Is 'Shambolic and in Disaster'

ü  Nigeria: WTO to Hold Special Meeting for Next DG Selection -
Okonjo-Iweala

ü  South Africa: Nelson Mandela Bay Mayor Targets Immigrant-Owned Spaza
Shops

ü  South Africa: Suspended Lotteries Company Secretary Loses Again in Court

ü  Kenya: Govt Seeks MPs Nod On Proposal to Bar Foreign Firms Access to
Tenders Below Sh1bn

ü  Nigeria: High Interest Rates, Insecurity Lead to Business Constraints in
Nigeria - CBN Survey

ü  Nigeria to Launch Lithium, Rare Earth Processing Plants

ü  Liberia: Government Lapse Leading Miners to Community Forests

ü  Liberia: Health Workers Want Salaries Classified

ü  Kenya: Renewable Energy Firm Gitson Joins Ketraco-Adani Legal Case

ü  Nigeria: Tinubu Returns From Saudi Arabia

ü  Nigeria: Channel Funds to Industrialisation, Not Palliatives, Anglican
Primate Tells Govt

ü   

 


 <mailto:info at bulls.co.zw> 

 


 

Kenya: Ruto Appoints Arita As New CBK Deputy Governor

Nairobi — President William Ruto has nominated Gerald Nyaoma Arita as the
second Deputy Governor of the Central Bank of Kenya (CBK), succeeding Sheila
M'mbijiwe, who retired in June.

 

Arita, currently the Director of the Bank Supervision Department at CBK,
brings 36 years of professional experience to the role, having held multiple
positions within the institution.

 

His previous roles include Director of Financial Markets Development,
Director of Banking Services, and Acting Director of Internal Audit, among
others.

 

Arita holds a Master of Philosophy in Economics from the University of
Cambridge, earned under the Commonwealth Scholarship.

 

In a separate appointment, Ruto nominated Sammy Chepkwony as chairperson of
the Salaries and Remuneration Commission (SRC) to replace Lyn Mengich, whose
six-year term has ended.

 

Chepkwony, a human resources expert with over 30 years of experience, is the
Managing Director and CEO of People Centric Management Limited.

 

Both nominations await approval by the National Assembly.

 

Capital FM.

 

 

 

 

Kenya: Foreign Firms to Be Excluded From Tenders Below Sh1bn

Nairobi — All Kenyan tenders less than Sh1 billion will be reserved for
local companies if Parliamentarians give nod to the proposed Public
Procurement and Asset Disposal (Amendment) Bill.

 

According to the government, the move is aimed at increasing opportunities
for local firms in the public procurement sector while tightening
regulations to curb unfair competition, particularly involving foreign
companies.

 

"Any procurement of less than one billion shillings shall be awarded to a
local firm. (6B) A foreign firm shall be eligible for procurement of
contracts of more than one billion shillings where the foreign firm has
entered into joint venture procurement with a local firm for not less than
thirty percent of the value of the procurement," read the Bill in part.

 

 

The bill seeks to only allow foreign firms to participate in procurements
valued over one billion shillings, but only if they form a joint venture
with a local firm.

 

The foreign firm must commit to a minimum of 30 percent of the procurement
value being allocated to the local partner.

 

The amendments also seek to address the issue of unfair competition by
introducing tough penalties for those who attempt to bypass the regulations.

 

Individuals who register companies on behalf of foreign entities to unfairly
access local procurement opportunities will face a fine of up to five
million shillings, a prison sentence of up to three years, or both.

 

Likewise, the bill will require that any procurement exceeding one billion
shillings must specify the roles that local firms will play in the joint
venture partnership, ensuring that the benefits of such contracts are shared
with the local economy.

 

Capital FM.

 

 

 

 

Malawi: Kabambe Says Malawi's Economy Is 'Shambolic and in Disaster'

Former Reserve Bank of Malawi Governor, Dr. Dalitso Kabambe, has harshly
criticized the current state of Malawi's economy, calling it "shambolic and
a disaster," and arguing that only a visionary leader can address the
country's crises.

 

Kabambe highlighted several severe economic issues, including the ongoing
fertilizer shortage, foreign exchange crisis, and food insecurity, which he
claims are the worst Malawi has faced in its history. He pointed out that
the country's GDP growth rate has been stagnating at a dismal 1-2% over the
past four years, the worst since Malawi gained independence in 1964.

 

 

"This is the worst GDP growth rate Malawi has achieved since independence,"
Kabambe stated, condemning the government's failure to foster economic
growth or improve living standards for citizens. He emphasized that under
normal circumstances, a country should not face such a combination of crises
simultaneously.

 

Kabambe, who is now a presidential hopeful for the UTM, blamed the
government for a "culture of wastefulness" and lamented the lack of
effective leadership at the helm. However, he remained optimistic, stating
that the situation is "redeemable" if Malawians choose to replace the
current government at the ballot in 2025.

 

"The solution won't come on a silver platter, but it's in our hands as a
nation. Malawians must make the right choice next year," Kabambe said,
signaling his intent to lead the nation toward economic recovery.

 

Kabambe, a development economist, also stressed the need for comprehensive
policy reforms, including revisiting fiscal, monetary, and exchange rate
policies to align them with the current economic challenges.

 

As the 2025 elections draw closer, Kabambe's words are sure to resonate with
a nation facing mounting economic challenges. His call for visionary
leadership offers a glimpse of the hope he believes can lead Malawi to
recovery.

 

Nyasa Times.

 

 

 

 

Nigeria: WTO to Hold Special Meeting for Next DG Selection - Okonjo-Iweala

The World Trade Organization has announced it will hold a special meeting of
its General Council to move forward with the selection process for the next
Director-General.

 

In a statement issued by the Chair of the General Council, Ambassador Petter
Ølberg of Norway, on Tuesday, it was announced that the meeting will take
place on November 28-29, 2024.

 

"The first day of the General Council meeting would allow members to hear a
presentation from DG Ngozi Okonjo-Iweala on her vision for the WTO, followed
by a question-and-answer session, the Chair said. The second day could then
provide an opportunity for members to take a decision on the appointment of
the next Director-General," the statement partly reads.

 

Recall that the WTO on November 9 announced Nigeria's Ngozi Okonjo-Iweala as
the only candidate for the role.

 

Okonjo-Iweala, who took over in March 2021, has hinged her leadership on
breathing new life into the sclerotic organisation..

 

Her current term ends in August 2025.

 

Director-generals are chosen by consensus from the entire 166-member WTO.

 

Vanguard.

 

 

 

 

South Africa: Nelson Mandela Bay Mayor Targets Immigrant-Owned Spaza Shops

"These are politically motivated actions against us. There are many more
pressing issues facing this city."

 

The newly elected Mayor of Nelson Mandela Bay Babalwa Lobishe ordered the
closure of eight immigrant-owned shops on Monday afternoon, in an operation
conducted jointly by health and Home Affairs officials, SAPS and metro
police, and the City's economic development and electricity directorates.

 

On Tuesday, mayco member for health Tshonono Buyeye led a similar "food
safety spaza blitz" in North End, Gqeberha. Two more immigrants were
detained for being undocumented.

 

 

Lobishe will again lead a spaza shop clampdown on Wednesday in New Brighton,
Gqeberha.

 

The mayor claimed the shops were operating illegally and that their owners
lacked proper documentation. "They must wait for us behind bars," she said.

 

But the shop owners dispute the allegations.

 

"We are not criminals. We are in the process of obtaining proper
documentation, and some of us are already legally in South Africa," said
Abul Ali, who runs a spaza shop in KwaNobuhle, Kariega.

 

"These are politically motivated actions against us. There are many more
pressing issues facing this city," said Ali.

 

The crackdown is being partly justified by unsubstantiated claims seeking to
exclusively link immigrant-owned shops to the tragic deaths of children that
have occurred in other parts of the country. Tests have shown that some of
these deaths have been caused by the illegal use of Terbufos.

 

"We will never allow children to die from eating fake sweets in Nelson
Mandela Bay," said the mayor.

 

Her statements echo anti-immigrant sentiments. She warned property owners
against renting to immigrants and promoted what she called "opportunities
for South Africans" to take over these businesses.

 

"We are heeding a call for South Africans to prepare themselves as the
municipality is willing to support them run shops by themselves. The
government has packages for individuals wanting to do businesses. Don't
allow foreign nationals to run businesses in your country illegally," she
said.

 

In a statement, the municipality said it had uncovered several violations,
including the illegal sale of paraffin and diesel, unauthorised electricity
connections, and illegal dumping. Additionally, some panel beating
businesses were found employing individuals without valid passports.

 

Chris Mapingure, chair of the Zimbabwe Migrants Support Network said, "This
comes as a very huge disappointment to us foreign nationals considering the
fact that there is a court judgment made in the Western Cape on 13 September
2024 stopping Home Affairs and police from arresting foreign nationals [who
have an] intention to apply for asylum."

 

GroundUp experimented with AI Claude 3.5 Sonnet in the editing of this
article.

 

GroundUp.

 

 

 

 

South Africa: Suspended Lotteries Company Secretary Loses Again in Court

Nompumelo Nene is facing disciplinary proceedings and has launched several
applications in an attempt to stop them

 

The suspended company secretary of the National Lotteries Commission (NLC)
has failed in a court bid to get documents.

Nompumelo Nene said she needed the documents for her application to set
aside findings of irregular expenditure under her watch at the NLC.

The findings led to her suspension in November 2022 on full pay; she has
reportedly received almost R5 million since then.

Her review application comes after she failed in an urgent application to
stay disciplinary proceedings against her.

 

Suspended National Lotteries Commission (NLC) company secretary Nompumelo
Nene has failed, in what was described as a "fishing expedition", to get
documents from the Auditor-General, the Ministry of Trade, Industry and
Competition, and the NLC.

 

In her application before Pretoria High Court Acting Judge Le Grange, Nene
claimed she needs the documents for her review application in which she is
seeking to set aside findings of irregular expenditure by the NLC under her
watch, which led to her suspension in November 2022.

 

But Judge Le Grange has dismissed the application. He said he was tempted to
order that she pay punitive costs, or even costs from her own pocket, but
said it was too early in the review litigation process to do that.

 

Read the judgment here

 

GroundUp reported this week that Nene remains on full pay and has been paid
out almost R5-million since her suspension.

 

 

Earlier this year, Nene launched urgent proceedings to stay the disciplinary
proceedings against her. But this was dismissed and she was ordered to pay
the costs personally.

 

In her review application she is seeking to set aside the Auditor-General
reports for the financial years 2018 to 2020 which implicated her in
misconduct relating to unauthorised expenditure on media services,
accountants and auditors.

 

The matter before Judge Le Grange was an interlocutory application seeking
to compel the production of the record of the decisions which led to her
suspension.

 

Judge Le Grange said he doubted that Nene had legal standing to even bring
the review application in her own name, but that was an issue which would be
dealt with later.

 

He said that the main objection (of the government respondents), was that in
terms of the rules of court (Rule 30A), the Auditor-General had already
filed a comprehensive record of proceedings, that the application was
nothing but a fishing expedition, and that it was clear from the list of
documents that she sought that most were irrelevant to the review
application.

 

 

Judge Le Grange said the Auditor-General had provided her with the record
even before the review application had been filed.

 

"In my view, the applicant [Nene] appreciated that her "wish list" simply
did not form part of the record of proceedings, but were rather documents
which are extraneous to and which go beyond the record, to what she
considered to be relevant to identify and prove the Auditor-General
inconsistencies spanning the years."

 

For this reason Nene had "skilfully" attempted to move away from Rule 30 to
Rule 35, which provides for discovery of documents.

 

However, discovery could only be considered once the "contours of the
dispute" had been drawn (when all the pleadings were in) and the relevancy
of documentation could be determined.

 

In her affidavit, Nene said the dispute (in the review) was about the simple
question of whether the Auditor-General consistently applied and interpreted
audit standards and she wished, through the documents, to show there had
been an "abrupt change" in stance, especially prior to 2018.

 

But Judge Le Grange said in a review the test was not inconsistency but
rationality.

 

"The Auditor-General may, in answer, admit to having been inconsistent,
which will leave the bulk of, if not all, of the listed documents now
sought, totally irrelevant for the purpose of the review. Discovery is best
left for after the close of the pleadings."

 

Nene had also sought an order compelling the NLC to provide her with
documentation which she had sought under the Promotion to Access to
Information Act in October 2023.

 

Judge Le Grange said it was common cause that the NLC had failed to answer
this request. This constituted a "deemed refusal" and the default position
was that she had to follow internal appeal processes before she had the
right to approach a court.

 

In dismissing her application, with costs, the judge said he had been
requested by all the respondents to grant costs on a punitive scale and some
had even suggested a personal cost order.

 

"I cannot say I have not been tempted due to her unreasonable persistence
with the application, which may also have as a basis an ulterior purpose. I
believe however, that I should not grant such an order at this early stage
of the litigation, especially due to the fact that the applicant is an
individual who does not have access to state funds, as the majority of the
respondents do."

 

GroundUp.

 

 

 

 

Kenya: Govt Seeks MPs Nod On Proposal to Bar Foreign Firms Access to Tenders
Below Sh1bn

All tenders less than one billion shillings will henceforth be exclusive to
local companies, should parliament give nod to the proposed Public
Procurement and Asset Disposal (Amendment)Bill.

 

According to the government, the move is aimed at increasing opportunities
for local firms in the public procurement sector while tightening
regulations to curb unfair competition, particularly involving foreign
companies.

 

"Any procurement of less than one billion shillings shall be awarded to a
local firm. (6B) A foreign firm shall be eligible for procurement of
contracts of more than one billion shillings where the foreign firm has
entered into joint venture procurement with a local firm for not less than
thirty percent of the value of the procurement," read the Bill in part.

 

 

The Bill seeks to only allow foreign firms to participate in procurements
valued over one billion shillings, but only if they form a joint venture
with a local firm.

 

The foreign firm must commit to a minimum of 30% of the procurement value
being allocated to the local partner.

 

The amendments also seek to address the issue of unfair competition by
introducing tough penalties for those who attempt to bypass the regulations.

 

Individuals who register companies on behalf of foreign entities to unfairly
access local procurement opportunities will face a fine of up to five
million shillings, or a prison sentence of up to three years, or both.

 

Likewise, the bill will require that any procurement exceeding one billion
shillings must specify the roles that local firms will play in the joint
venture partnership, ensuring that the benefits of such contracts are shared
with the local economy.

 

Capital FM.

 

 

 

 

Nigeria: High Interest Rates, Insecurity Lead to Business Constraints in
Nigeria - CBN Survey

Additional constraints identified by the survey include multiple taxation,
unreliable power supply, and an unfavourable economic climate.

 

Businesses across Nigeria are grappling with a difficult operating
environment as high interest rates, insecurity, and multiple taxes rank
among the most pressing constraints, according to the latest Central Bank of
Nigeria (CBN) survey.

 

The October Business Expectations Survey, which provides insights into the
prevailing economic challenges faced by businesses, highlights persistent
hurdles that could potentially stifle growth and investment in the country.

 

 

It is aimed at gauging economic sentiment and challenges, revealing that
high interest rates top the list of obstacles, a concern shared across
industries.

 

According to the survey, businesses cite the elevated cost of borrowing as a
significant deterrent to expansion and day-to-day operations.

 

This issue has been exacerbated by Nigeria's broader monetary tightening
measures aimed at controlling inflation, which reached 32.7 per cent in
September - a level not seen in recent years.

 

Insecurity was ranked as the second-most critical issue, with firms
expressing concerns over the impact of violence and criminal activity on
their operations.

 

Security challenges have not only increased business costs through
heightened expenditure on private security but have also discouraged
potential investments in regions heavily affected by such risks.

 

"The outlook on the macro economy for November 2024, January and April 2025
indicates that the Northeast region continues to drive the optimism on the
economy for the review periods," it said.

 

 

Additional constraints identified by the survey include multiple taxation,
unreliable power supply, and an unfavourable economic climate.

 

"Respondents were optimistic about the overall business outlook in October
2024. However, insecurity, high interest rates, unfavourable economic
climate, financial problems, and high or multiple taxes, inadequate power
supply were identified as key factors constraining business activities," CBN
said.

 

Multiple layers of taxes imposed by various governmental agencies have
weighed heavily on businesses, particularly small and medium-sized
enterprises, which struggle to absorb these costs.

 

Insufficient power supply continues to push companies towards costly
alternatives, such as generators, which further increase operating expenses.

 

Despite these hurdles, the survey suggests a cautious optimism among
Nigerian businesses about future growth, with several sectors, including
agriculture and non-market services, forecasting modest improvements in
business confidence and expansion plans in the coming months.

 

However, manufacturing remained a sector of concern, with respondents citing
its low outlook due to the cumulative effect of these constraints.

 

The survey also sheds light on exchange rate expectations, with respondents
predicting a near-term depreciation of the naira but an appreciation in the
medium term.

 

The currency has faced pressure following exchange rate unification
policies, which led to a marked decline in its value earlier this year.

 

A depreciating naira continues to challenge import-dependent industries, as
costs rise, affecting both input prices and consumer demand.

 

Capacity utilisation remains relatively robust, especially within the
mining, quarrying, electricity, gas, and water supply sectors, where
businesses reported the highest rates of utilisation.

 

These industries appear to have weathered the challenging conditions better
than others, reflecting their critical role in the economy.

 

The survey, according to the CBN, is a monthly survey of leading firms drawn
from Business Establishment updated frames of CBN and the National Bureau of
Statistics. Its result provides an advanced indication of the change in the
overall business activity in the economy.

 

"The October 2024 Business Expectations Survey (BES) was conducted from
October 7 to 19, 2024, with a sample size of 1,750 business enterprises
across Nigeria. The survey achieved a response rate of 98.0%, covering three
key sectors: Industry, Services, and Agriculture," it said.

 

Premium Times.

 

 

 

 

Nigeria to Launch Lithium, Rare Earth Processing Plants

The move is part of the government's strategy to diversify the economy away
from oil and capitalise on the growing demand for lithium, a key component
in rechargeable batteries.

 

The Ministry of Solid Minerals Development has announced plans to begin the
commissioning of lithium and rare earth processing plants across Nigeria,
marking a significant step in the country's efforts to harness its mineral
resources.

 

At the 2nd pre-press briefing for the 9th edition of the annual Nigeria
Mining Week in Abuja on Tuesday, the Minister of Solid Minerals Development,
Dele Alake, disclosed that the move is part of the government's strategy to
diversify the economy away from oil and capitalise on the growing demand for
lithium, a key component in rechargeable batteries.

 

 

"In the next quarter, the herculean efforts of serious industrialists in the
mining sector will gradually unravel as we begin to commission lithium and
rare earth processing plants across the country," Mr Alake said.

 

He added that El Thahadat plans to launch its lithium plants in Kwara and
Kebbi states, while Hasetins will inaugurate its rare earth, primarily
tantalite processing plant in the Federal Capital Territory (FCT) in
December.

 

"A new gold refinery has just been set up in Gwarinpa, and the ministry is
working with the company to ensure its take-off. Undoubtedly, we are in the
season of harvesting the visionary ideas of the Seven Point Agenda," he
said.

 

 

Mr Alake emphasised that Nigeria is blessed with more than 44 mineral types
across various categories but stressed that the country must go beyond mere
extraction to realise its full potential.

 

"We are focused on establishing systems and structures that allow Nigerians
to benefit directly from our resources. Through local value addition,
processing, and beneficiation, our aim is to transform Nigeria's mineral
wealth into industrial and economic power, generating jobs and supporting
local businesses in ways that ripple through our economy," he said.

 

At the core of this transformative agenda, he highlighted the importance of
precision and transparency in data, noting that quality geoscientific
information not only attracts investors but also strengthens the credibility
and stability of the sector.

 

Mr Alake added that the government aims to position Nigeria as a destination
for well-informed and reliable investments, inviting global partners to
engage in mutually beneficial collaborations that will elevate the country's
mining sector to international standards.

 

 

He further explained that processing and refining facilities within Nigeria
would create local employment, enhance industrial capacity, and generate
added economic value beyond the mining sector itself.

 

He stated that Nigeria is being positioned as a significant player in the
global mineral value chain, with a strong commitment to ensuring that the
wealth generated remains within local communities.

 

Mr Alake also spoke about the progress being made in tackling illegal
mining, which has long been a threat to both the revenues and the welfare of
local communities.

 

"We are intensifying efforts to protect our resources with robust
surveillance and enhanced inter-agency cooperation, ensuring that every
mineral extracted contributes to national development and strengthens
investor trust in our mining landscape. The establishment of the mining
marshals sent clear signals to all illegal miners that a new sheriff is in
town and that we shall enforce the Nigerian Minerals and Mining Act, no
matter whose ox is gored," he said.

 

He added that the consolidation of the mine's surveillance task force would
lead to more effective law enforcement and increased prosecution of
offenders. The introduction of satellite technology for intelligence
gathering and monitoring of mineral extraction, transportation, and
processing would complement the manual operations on the ground.

 

The minister warned that all illegal and covert mineral activities would be
uncovered, with those found guilty facing charges as economic saboteurs.

 

Turning to artisanal and small-scale mining, Mr Alake highlighted its
significance as a source of income for many Nigerians.

 

The minister explained that efforts are underway to integrate artisanal
miners into a formalised system that will enhance their safety, increase
profitability, and provide better access to technology.

 

As of October, he noted that at least 250 new co-operatives had been
registered by the Artisanal and Small Scale Mining Department.

 

The minister said the development was positive news, confirming the
effectiveness of the government's two-pronged strategy to combat illegal
mining, which encourages artisanal miners to transition from illegal
activities to formal co-operatives.

 

He also highlighted progress in trading, noting that October 2024 figures
showed the establishment of at least 150 buying centres.

 

Strengthening this subsector, he concluded, would empower countless
communities, create prosperity at the grassroots level, uplift families, and
build a stronger economy.

 

Premium Times.

 

 

 

 

Liberia: Government Lapse Leading Miners to Community Forests

In early June, villagers seized a team of miners and their equipment for
operating in the Salayea Community Forest without their consent and sued
them.

 

A week later, the Salayea Magisterial Court dismissed the case because the
miners had a valid license. It advised the Ministry of Mines and Energy and
the Forestry Development Authority (FDA) to settle the matter
administratively.

 

Salayea is the latest community forest for which the Ministry of Mines has
issued a license without landowning communities' participation. This
practice abuses communities' rights, undermines their efforts to manage
forests, and leads to forest degradation. From 2002, Liberia lost 347,000
hectares of primary forest, with 20,000 hectares in Lofa County last year
alone, according to the Global Forest Watch, an online platform that
monitors forests worldwide.

 

 

"What is happening in the community is bad because they are damaging the
forest that we are fighting to protect for our children and the future
generation," says Yassah Mulbah, the chief officer of the 8,270-hectare
forest, one of a few conservation community forests countrywide. Home to
important plants and animal species, Salayea received a community forest
status in 2019.

 

"We are not happy because they are still destroying our forests, cutting
down trees, and spoiling rivers and creeks because of gold-digging
business," adds Mulbah.

 

The Community Rights Law of 2009 with Respect to Forest Lands, empowers
rural people, who were marginalized for decades. The law empowers residents
to share benefits and managerial responsibilities with the FDA.

 

 

On the other hand, mining is a cornerstone of Liberia's economy, with
significant contributions to GDP and revenue. Last year, mining contributed
$665.4 million to Liberia's GDP and was a primary driver of economic growth
along with construction, according to the World Bank. Continued growth of
5.3 percent is projected for 2024 and an average of 5.6 percent between 2024
and 2025, spurred by mining and structural reforms.

 

Lawsuits

 

Mining in community forests has led to several lawsuits countrywide in the
last five years. Two cases ended with fines against the miners, while the
other was withdrawn, giving the miners a clean slate.

 

In the first case, Korninga B Community Forest in Gbarpolu, 100 kilometers
west of Salayea, locals sued Bea Mountain company for unauthorized entry
into the community forest. They accused the company of cutting and
destroying 2,800 logs while exploring for gold.

 

 

Later, the 16th Judicial Circuit Court in Bopolu found the Turkish-owned
company liable and ordered it to pay over US$1.3 million in special damages
and an additional US$3 million in general damages. The company eventually
paid the community US$200,000 in an out-of-court settlement.

 

The second case is the most infamous. In 2019, the Ministry of Mines and
Energy granted Solway Mining Inc. an exploration license for patches of
forest in Blei and Sehyi Ko-doo Community Forests without the communities'
consent. So, locals filed a lawsuit. Subsequently, Solway paid the
communities a US$3,000 fine after a local court ruled its entry into the
rocky woodlands unauthorized. However, Solway went on to sign an agreement
with the two communities for its exploration activities.

 

The third case happened earlier this year, just before Salayea. Bondi
Mandingo Authorized Community Forest in Gbarpolu filed a $500,000 lawsuit
against Harming Mining Group of Companies. The community accused the company
of cutting trees, digging large pits polluting water sources and
establishing a camp protected by armed police.

 

Backed by chiefs and elders, the company purchased small-scale mining
licenses the Ministry of Mines had awarded unknown to the community forest's
leadership. In the end, the community flipped and consented to the company's
operations.

 

Uncoordinated agencies

 

The cases expose the lack of coordination between the Ministry of Mines and
the FDA, corruption other issues, forestry campaigners say.

 

A 2018 USAID report established that the Ministry of Mines weakened local
forest management by authorizing mining in community forests without
consulting local people and the FDA.

 

A 2021 Center for Transparency and Accountability in Liberia (CENTAL) report
highlighted weak coordination between the government offices in awarding
semi-industrial-scale and small-scale mining licenses.

 

It found no redress mechanism for dissatisfied townspeople, except the
courts, and that citizens' participation in mining was low.

 

"In some areas, the FDA and Ministry of Mines and Energy lack the resources
or capacity to enforce rules effectively," says Dayugar Johnson, the lead
campaigner at Civil Society Independent Forest Monitors.

 

"This leaves community forests and... protected areas vulnerable to
unauthorized mining activities..." Johnson thinks corruption, high demands
for minerals, limited awareness of the law and lack of alternative
livelihood are a part of the problem.

 

Based on past and present mining authorities' comments, there is more to the
issue than the lack of coordination. It is also about the abuse of
communities' rights to forestlands.

 

In a 2020 interview, then-Assistant Minister for Exploration Rexford Sartuh
disclosed that the Ministry of Mines did not recognize community forests.
"They have their right to their land but when it comes to the issuance of
mineral rights in Liberia, we don't consider them. They believe that we
should ask them before we issue [licenses]. We should not," Sartuh said in
the interview.

 

Sartuh's view is the same as current Minister Wilmot Paye. In a WhatsApp
chat with The DayLight, Paye suggested that the mining law was superior to
forestry laws and regulations.

 

"Your query should further focus on what the Minerals and Mining Law of 2000
says," Paye texted, and did not say anything else.

 

Paye's comments contradict the facts. Though the mining law does not
recognize communities' rights--it is Liberia's oldest extractive law--the
Community Rights Law and the Land Rights Act of 2018 do. Both forestry
instruments grant locals the right to consent and ownership of forestlands.
The land law's respect for community ownership is regarded as a landmark
achievement in Liberia's history.

 

Drafters of a new mining law, a draft seen by The DayLight, are proposing
full recognition of all forestry and land laws and regulations.

 

'Dissatisfied'

 

The FDA Managing Director Rudolph Merab did not respond to queries. However,
Merab's predecessor, Mike Doryen, criticized the Solway deal in 2020.

 

"We are disappointed in the way the Ministry of Mines and Energy handled
things," said Doryen at the time. "We think it has the propensity of
discouraging our donors from making any more investments in the conservation
area of our country."

 

Doryen's comments were a reference to a fallout of Solway's exploration in
Blei and Sehyi Ko-doo.

 

The two conservation community forests are adjacent to the East Nimba Nature
Reserve, a biodiversity hub home to the endangered Western Chimpanzee and
the endemic Nimba toad. Both steep community forests and two others--Gba and
Zor--receive support from ArcelorMittal Liberia and USAID.

 

Meanwhile, the situation in Salayea is not over. The court removed its stay
order on the miners' operations, leaving the community reeling.

 

Mulbah and co have decided to sue the miners at another court after
consulting the FDA, which she says pledges to support Salayea.

 

"The community is frustrated, and people want to protest, but we urge
patience as we seek help to protect our forest," said Mulbah. "We are not
satisfied because the government authorized us to manage our forest and
resources.

 

This story first appeared in The DayLight and has been published here as
part of an editorial collaboration.

 

Liberian Observer.

 

 

 

 

Liberia: Health Workers Want Salaries Classified

A group of Physician Assistants, Nurses, Pharmacists, and OR-Technicians,
representing the Professional Health Workers Association of Liberia, has
formally petitioned the Liberian Senate to include provisions in the 2025
National Budget for the implementation of the Reclassification Policy for
Health Workers and the hiring of volunteer healthcare workers.

 

Benjamin Suamey, President of the Liberian Nursing Association, presented
the petition to the Senate Standing Committee on Health. He emphasized that
the current salaries for health workers do not adequately reflect their
expanding responsibilities, skills, and crucial roles, particularly during
public health emergencies.

 

 

"Despite our unwavering commitment to delivering essential healthcare
services to the people of Liberia, our efforts have not been matched with
fair compensation and appropriate classification," Suamey stated.

 

In his address, Suamey pointed out that the reclassification policy is not
merely a matter of equity; it is vital for the retention and motivation of
health workers. He noted that the disparities in salaries contribute to low
morale, financial strain, and, in some instances, the migration of skilled
professionals in search of better opportunities.

 

Suamey highlighted that health workers have attempted to voice their
concerns through various channels, but their calls for reform have yet to
result in meaningful action. As a result, they are urging the Legislature to
ensure that the 2025 budget incorporates the reclassification policy and
provisions for the employment of volunteer health workers serving in various
facilities and communities nationwide.

 

He warned, "If our concerns are not addressed, we may have no choice but to
take drastic measures, which would significantly disrupt healthcare delivery
across Liberia. We are dedicated to our responsibilities and to the health
of our nation, but we cannot continue under these inequitable conditions."

 

The healthcare workers also requested that the Senate Committee on Health
invite them for discussions within five days to address their concerns and
work towards a resolution that supports these committed professionals and
ensures the ongoing provision of quality healthcare services in Liberia.

 

Upon receiving the petition, Senator Darbah Varpilah, Chairperson of the
Senate Committee on Health and Senator from Grand Cape Mount County,
expressed appreciation for the thoughtful presentation of the petition.

 

She pledged to bring the matter to her colleagues for discussion and action,
underscoring the critical role healthcare providers' play in the lives of
citizens and affirming that their welfare must be a priority.

 

Liberian Observer.

 

 

 

 

Kenya: Renewable Energy Firm Gitson Joins Ketraco-Adani Legal Case

Nairobi — Gitson Energy Limited has petitioned the Kenyan High Court to join
the Law Society of Kenya's case challenging the KETRACO-Adani contract as an
Interested Party.

 

The renewable energy developer filed its petition on November 8, 2024,
through its advocates, Theuri Wesonga and Co. Gitson states that its
participation will offer critical information, insights, and submissions
relevant to the issues raised in the Law Society of Kenya's (LSK) petition.

 

In late October, the Nairobi High Court issued conservatory orders halting
the contract's progress after the LSK filed a petition, citing
constitutional concerns.

 

 

Gitson argues that its substantial investment in Kenya's renewable energy
sector justifies its request to join the case and positions it to assist the
court in determining whether the contract aligns with legal and public
interest standards.

 

The company further claims that the Adani-Kenya Electricity Transmission
Company (KETRACO) deal imposes undue financial and economic burdens on the
public and fails to meet constitutional requirements.

 

"The 1st and 2nd Respondents entered into an agreement with terms that
impose undue financial burdens on the public, including long-term
availability-based tariffs without prior stakeholder consultation,
potentially adding costs for taxpayers and violating constitutional mandates
for accountability and fiscal prudence," reads the petition.

 

The Sh95.68 billion ($736 million) contract, signed in mid-October by
KETRACO and Adani Energy Solutions Limited, would see Adani build and
operate four transmission lines and two substations over a 30-year period,
after which they would revert to Kenya.

 

The projects under this agreement include the 400kV Double-Circuit
Gilgil-Thika-Malaa-Konza Line (208.73 km) and the 220kV
Rongai-Keringet-Chemosit Line (99.98 km).

 

Also included are the 132kV Menengai-Ol Kalou-Rumuruti Line (89.88 km), a
400/220kV substation at Lessos, and a 132/33kV substation at Thurdibuoro.

 

Capital FM.

 

 

 

Nigeria: Tinubu Returns From Saudi Arabia

The president arrived at the Nnamdi Azikiwe International Airport, Abuja at
about 8. 00 p.m. and was welcomed by members of his administration.

 

President Bola Tinubu on Tuesday returned to Abuja from an official trip to
Riyadh, Saudi Arabia, where he attended the Joint Arab-Islamic summit.

 

The president arrived at the Nnamdi Azikiwe International Airport, Abuja at
about 8. 00 p.m. and was welcomed by members of his administration.

 

On hand to welcome the president were Chief of Staff Femi Gbajabiamila, and
the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

 

Others were the Minister of Federal Capital Territory, Nyesom Wike, and
Abdullahi Ganduje, chairman of the ruling All Progressives Congress.

 

The president was accompanied on the trip by Yusuf Tuggar, minister of
Foreign Affairs; NSA Nuhu Ribadu and Mohammed Idris, minister of Information
and National Orientation.

 

Also on the president's entourage was Mohammed Mohammed, director-general of
the National Intelligence Agency.

 

(NAN)

 

Premium Times.

 

 

 

 

Nigeria: Channel Funds to Industrialisation, Not Palliatives, Anglican
Primate Tells Govt

The cleric commended the government for ensuring that the scope of
intervention of TETFund expanded from building infrastructure to carrying
out research programmes.

 

The Primate of the Church of Nigeria (Anglican Communion), Henry Ndukuba, an
archbishop, has advised the Federal Government to channel the funds it spent
on palliatives to build industries.

 

Mr Ndukuba who gave the advice at the opening of the 14th edition of 2024
Divine Commonwealth Conference (DIVCCON) on Tuesday in Abuja, said investing
in industrialisation could create more employment.

 

The conference with the theme "Peace be still', taking from the Gospel of
Mark 4:35 - 41" is aimed at creating hope for the church and interceding for
Nigeria as a country.

 

 

Mr Ndukuba told journalists on the sidelines of the event that revitalising
moribund textiles and other industries, as well as establishing new ones
across the six geo-political zones in the country, could reduce economic
hardship.

 

The cleric commended the government for ensuring that the scope of
intervention of Tertiary Education Trust Fund (TETFund) expanded from
building infrastructure to carrying out research programmes, innovation and
industrialisation.

 

He added that translating such ideas to industrialisation could make more
impacts in Nigeria.

 

"I was delighted to hear that TETFund is not only for building
infrastructure at our higher institutions but also to encourage research,
innovation and industrialisation.

 

 

"How this can be translated into industrialisation is the way to go.

 

"Our present situation cannot be solved by giving palliatives only, yes
palliatives is just for immediate relief but there is the need to revive our
industries, the textiles and others," he said.

 

The primate queried "do you know how many textiles have gone bankrupt in
Kaduna State?.

 

"If we have five textiles functioning in the north, I am telling you that a
great number of our youths would be employed to work both day and night."

 

Emphasising on the theme, the cleric expressed hope for the country,
advising that Nigeria was passing through the storm as Jesus Christ and his
disciples did while he stood up and calmed the heavy winds.

 

He further advised that Nigerians should not be anxious over the stormy
situation, adding, God Almighty would see the country through its trials.

 

He said Jesus' calmness was significant and worthy of emulation as he was
not anxious or panicky, he rather demonstrated a peace that transcends
circumstances and foreshadows the peace he would soon bring to the raging
waters.

 

"I want to tell you that most Nigerians are worried, they are anxious, they
are in fear of their own lives, they are not even sure of where the next
food will come from.

 

"And it's in this situation as we are facing a storm and none of us has the
solution, it is in such a situation that the word of God is coming to us,"
he said.

 

Also speaking, President of the Christian Association of Nigeria (CAN),
Archbishop Daniel Okoh, lauded the Anglican Church for its continued role in
fostering unity, faith and hope within the Christian community in Nigeria.

 

Represented by a reverend, Princewill Ireoba, Mr Okoh explained that the
conference theme came at the right time to raise the hope of God's people
especially as Nigeria is faced with numerous challenges.

 

"Peace be still resonates deeply with us as Christians facing the storms of
our time.

 

"We live in times of profound challenges politically, economically and
socially that test our resilience and faith.

 

"Yet, it is in such storms that the Lord calls us to remember His
sovereignty, to trust in His words and to know that His peace surpasses all
understanding.

 

"Just as Jesus calmed the storm on the Sea of Galilee, so He stands ready to
calm the storms in our lives, in our nation and in the hearts of all who
seek Him. It shall be well," he said.

 

Premium Times.

 

 

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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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
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companies typically involve a higher degree of risk and more volatility than
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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.

 


 

 


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