Major International Business Headlines Brief::: 04 April 2025

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Major International Business Headlines Brief:::  04 April 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Africa: Is the Loss of Aid an Opportunity for Africa?

ü  Africa Braces for Economic Hit As Trump's Tariffs End U.S. Trade Perks

ü  Uganda, Ethiopia Resume Joint Ministerial Commission After Six Year Break

ü  Uganda Airlines Leads Community Clean-Up in Entebbe to Enhance Aviation
Safety

ü  Nigeria: NCAA Warns Foreign Airlines Over Deportation of Nigerians
Mid-Travel

ü  Africa Must Act Boldly and Wisely in the AI Revolution

ü  Africa: Too Much Control Stifles AI, Experts Warn Governments

ü  Nigeria: 'Air Peace's London Flight, Emirates' Return Reduced Int'l Air
Fares'

ü  Nigeria: Court Declines Jurisdiction Over Lagos-Calabar Coastal Road
Controversy

ü  African Leaders Seek to Set Up a Continental AI Fund

ü  Africa: Twenty African Countries, Including Poorest, Hit with High Trump
Tariffs

ü  Kenya Faces Export Hurdles As U.S. Tariff Shift Disrupts Trade

ü  Lesotho Hit With Highest Tariff in the World By Trump

 


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Africa: Is the Loss of Aid an Opportunity for Africa?

US and EU aid cuts could prompt Africa to end its dependency, but the task
for poor countries will be especially difficult.

 

United States (US) President Donald Trump's administration has wrought havoc
across Africa and beyond by abruptly dismantling the multibillion-dollar US
Agency for International Development (USAID). This has terminated countless
development projects and put millions of recipients at risk.

 

The cuts are difficult to quantify because of the chaotic way the US has
gone about them. But 5 341 USAID programmes worth US$75.9 billion have been
wiped out, says Devex - an independent news organisation covering
development issues, quoting a leaked USAID document. Some 898 programmes,
worth around US$78 billion, remain. Devex says the US State Department also
lost 2 100 aid programmes totalling US$4.6 billion.

 

 

Jakkie Cilliers, Head of the Institute for Security Studies' (ISS) African
Futures and Innovation (AFI) programme, summarised the possible global
impact. Drawing on various sources, he noted: up to 18 million additional
cases of malaria yearly; a million cases of severe and potentially fatal
childhood malnutrition; 600% more HIV infections; and a spread of famine as
US$489 million of life-saving and life-sustaining food assistance is at risk
of spoilage, delay or diversion.

 

In Africa, AFI's modelling estimates there could be about 5.6 million more
extremely poor people by 2026, and the overall African economy could shrink
by about US$4.2 billion by 2030. The impact on HIV/AIDS in Africa would be
immense because of cuts to the President's Emergency Plan for AIDS Relief
(PEPFAR).

 

 

Cilliers notes that US official development assistance represents about 30%
of the global total while the European Union (EU) contributes about 42%. And
what has largely been ignored is that several EU states, including France,
Germany, Netherlands and Belgium, are also cutting their aid budgets. So are
the United Kingdom and Switzerland, by about 25% each.

 

This is mostly because in an increasingly perilous world - and particularly
because Trump is threatening to withdraw US support from Europe just as it
faces a greater threat from Russia - Western countries are diverting
development aid to defence.

 

'Europe is restructuring its development aid, shifting from traditional
grants to investment-driven funding while cutting budgets and [prioritising
defence], raising concerns about the future of global development,'
according to Devex.

 

African countries have been slow in determining how to fill the gaping holes
in their development budgets, including finding ways to increase domestic
revenues by for example more efficient tax revenue services.

 

 

South African President Cyril Ramaphosa last week acknowledged that
America's decision to slash PEPFAR, which contributed 17% of South Africa's
cost of fighting HIV/AIDS, was a 'wake-up call' to his government to fund
that 17% itself.

 

However, GroundUp and Spotlight noted that the crisis had erupted in
January, yet it took South Africa's Health Department until 3 March just to
meet with USAID implementing partners in the country. And no money had yet
been allocated to fill 'the massive hole left by PEPFAR cuts which are
estimated to result in hundreds of thousands of deaths over the next
[decade].'

 

Others see this as Africa's chance to change its relationship of dependency
on donor countries - as Kenyan satirist and commentator Patrick Gathara did
in a Resistance Bureau webinar last week on 'Africa After Aid? The Impact
and Possibilities'.

 

He lamented that the aid cuts discourse had largely been 'a return to the
old narrative of the hopeless continent that is incapable of taking care of
itself without the help of good-natured westerners.' Instead, Africa was a
net creditor to the world and donor countries earned US$7-US$8 for every
dollar they spent on aid, he said.

 

Gathara suggested that other African countries learn from Kenya, where young
people especially protested last year against President William Ruto's
attempt to raise taxes. They demanded he balance the books by tackling
corruption and excessive government spending instead.

 

Nic Cheeseman, University of Birmingham Professor of Democracy, agreed that
the yawning gap in aid revenues would have to be filled by increasing public
pressure on governments to be more accountable, shifting revenues away from
corruption towards delivering services. He told the webinar that South
Sudan, for example, spent a tiny percentage of its budget on providing
healthcare, relying on the US to fund about 60-70% of it.

 

However, Cheeseman said that channelling that pressure was a problem,
particularly as the aid cuts were also defunding civil society organisations
pushing for democracy and good governance.

 

Cilliers said USAID had been a major funder of programmes to strengthen
democratic institutions, human rights and governance across Africa. This
sector would be one of those most affected by cuts, as over 90% of the USAID
and State Department funding for this work was being abolished.

 

He said the absence of democracy aid could entrench authoritarian leaders
and provoke political instability in Africa, making African countries more
susceptible to the influence of undemocratic countries like China and
Russia.

 

Cheeseman thought countries like the United Arab Emirates and Saudi Arabia
would partly fill the vacuum in development financing. 'So the new game
might prove more problematic from the [viewpoint] of an African
Renaissance,' he said. Meanwhile, the US would be ceding a tremendous amount
of soft power, including policy influence, to these other countries.

 

Cilliers told the webinar that AFI research showed that the levels of
democracy in many African countries were higher than expected, given
development levels. He attributed some of that 'democratic surplus' to
conditionalities and the pro-democracy efforts funded by Western aid
agencies.

 

Official development assistance 'is the form our international cooperation
took in the 1960s and 50s,' French Development Agency CEO Rémy Rioux told
Devex. 'What will happen now is just consistent with what the world has
become, and we need a new architecture. We need to turn from assistance to
investment - sustainable, inclusive investment.'

 

However, Cilliers cautioned those now celebrating the end of aid dependency
in Africa that it wouldn't be easy for trade and private investment to solve
the continent's development challenges, especially for the poorest
countries. He said Africa's 22 least developed countries commanded only
about 0.4% of global trade, and its 24 low- to middle-income countries
enjoyed only around 1%.

 

'Expecting these countries to trade their way out of poverty is at best a
multi-generational project,' he noted. 'Large multinationals don't invest in
poor countries. Neither with global philanthropy nor funds from the diaspora
will [Africa] be able to fill the hole that is being left. Africa is
increasingly on its own but its financial independence comes with a price.'

 

Perhaps the only bright spot is that some gaps from USAID will be filled by
European countries using the opportunity to leverage their own soft power as
tensions and competition with the US intensify.

 

For all its manifold errors and challenges, European aid has traditionally
been more transparent and based on political and policy dialogue compared to
that from the US.

 

 

 

Africa Braces for Economic Hit As Trump's Tariffs End U.S. Trade Perks

The stiff new tariffs announced by President Donald Trump are shaking up
trade ties between the United States and several African nations - many of
whom have had preferential agreements with Washington for decades.

 

Unveiled at the White House on Thursday and dubbed "Liberation Day" by
Trump, the plan imposes a minimum 10 percent tariff on all imported goods.
It comes into effect on 5 April.

 

Countries with the largest trade deficits with the US will be hit with
additional, reciprocal tariffs starting 9 April.

 

"Reciprocal. That means they do it to us and we do it to them. Very simple.
Can't get any simpler than that," Trump said.

 

 

'Back to drawing board'

 

The new measures have drawn concern across the African continent. South
Africa called the tariffs "unilaterally imposed and punitive" and warned
they would act as a "barrier to trade and shared prosperity".

 

South Africa is the United States' second largest trading partner in Africa
after China. In 2024, it exported $14.7 billion worth of goods to the US.
The automobile, agriculture and pharmaceutical sectors are expected to be
hit hardest.

 

The South African presidency said there was now an urgent need "to negotiate
a new bilateral and mutually beneficial trade agreement with the US".

 

Oscar van Heerden, senior research fellow at the Centre for African
Diplomacy and Leadership at the University of Johannesburg, told RFI the new
rules would have wide-ranging effects.

 

 

"The impact of this new tariff regime is going to be very bad. Everyone is
now going back to the drawing board to understand what precisely is the
financial implications," he said.

 

To display this content from X (Twitter), you must enable advertisement
tracking and audience measurement.

 

Accept Manage my choices Van Heerden said Trump's tactic was to deliberately
disrupt. He described the tariff decision as part of a broader strategy to
provoke strong reactions and force countries into negotiations.

 

"And once you are at the negotiating table that's when the Trump
administration will say what it truly wants. If you want a favourable trade
agreement with the US, you will have to compromise on things that are not
necessarily trade related," he said.

 

"In the case of South Africa, possibly the case that we brought to the
international court of justice against Israel for genocide."

 

 

Small economies

 

Among the countries hardest hit by the tariffs is Lesotho, which now faces a
50 percent levy on its exports to the US.

 

"In a way, it is retaliation from the United States as we charge 99 percent
on the goods they export to us," said Leseko Makhetha, head of the economics
department at the National University of Lesotho.

 

In 2024, Lesotho exported $237.3 million worth of goods to the US. It
imported just $2.8 million. The US is Lesotho's second largest trading
partner after South Africa.

 

"We export mainly textile products to the US. A sector that accounts for 40
percent of local employment. The new 50 percent tariff will make it very
difficult for us to be competitive, which means that 40,000 jobs are at
risk," Makhetha explained.

 

He warned the economic fallout could be severe. "Unemployment, rising prices
and political riots may plague the small southern African kingdom."

 

Lesotho's currency, the loti, is pegged to South Africa's rand. A recent
drop in the rand's value has made imports even more expensive for Lesotho.

 

Other countries facing steep tariffs include Madagascar (47 percent),
Mauritius (40 percent), Botswana (37 percent), Angola (32 percent), Libya
(31 percent), Algeria (30 percent), Tunisia (28 percent), Côte d'Ivoire (21
percent) and Nigeria (14 percent).

 

Response uncertain

 

Makhetha said it was too early to offer a quick fix but suggested Lesotho
could try to boost exports of mineral commodities to the European Union and
Asia.

 

"Trump's policies which are adversely affecting African nations may give a
well-needed boost to the African Continental Free Trade Area," he said.

 

Van Heerden urged African countries to negotiate with the US as a bloc
through regional organisations like SADC, Comesa and Ecowas.

 

"The smaller economies should engage with the United States as a group.
That's the only way they will be able to negotiate with the United States.
If the small economies engage individually, the US will walk all over them,"
he said.

 

The new tariffs are also likely to override the African Growth and
Opportunity Act (AGOA), which provides duty-free access to the US market for
eligible sub-Saharan African countries. AGOA is set to expire in September.

 

"We expect South Africa to be excluded from the AGOA agreement," said van
Heerden. "There has been a big move to that effect by both parties in
Congress."

 

He added that the tariffs signalled a push by the Trump administration to
renegotiate all existing agreements in America's favour.

 

Read or Listen to this story on the RFI website.

 

 

 

 

 

Uganda, Ethiopia Resume Joint Ministerial Commission After Six Year Break

Following a six-year break, the Ethiopia-Uganda Joint Ministerial Commission
(JMC) kicked off in Addis Ababa.

 

Minister of Foreign Affairs, Odongo Jeje Abubakhar led a large delegation of
ministers and technical officials from key sectors of trade and investment,
transport, immigration and customs, energy and natural resources
development, defence and security, among others.

 

The Ethiopia-Uganda JMCs, are expected to be held biennially on a rotational
basis in accordance with the agreement establishing the Joint Ministerial
Commission JMC in 2011.

 

In 2019, the two countries held the 3rd Session of the Joint Ministerial
Commission in Kampala.

 

 

Post-Covid19 pandemic, the fourth session that opened yesterday, will close
today, April, 4.

 

Speaking at the opening of the senior official's meeting , Amb. Richard
Kabonero, the Head of the Department of Regional Economic Cooperation and
representing the Permanent Secretary Mr. Vincent Bagiire, highlighted the
historical bonds between Ethiopia and Uganda dating back to years of
exceptional cooperation and mutual understanding.

 

He recognized the strategic significance of the Joint Ministerial Commission
since its establishment in 1993 and recalling the Third JMC held in Kampala
in 2019.

 

"These engagements highlight Uganda's dedication to fostering bilateral
cooperation and advancing shared interests, including economic partnerships
and peace initiatives," he said.

 

"This fourth session provides an invaluable platform to review achievements,
address emerging challenges, and chart the way forward."

 

Amb. Zerinu Abebe, the acting Director-General for African Affairs of the
Ministry of Foreign Affairs of the Federal Democratic Republic of Ethiopia,
noted that this JMC will enhance longstanding cordial relationship between
Ethiopia and Uganda, noting that the two countries have deep bilateral and
multilateral engagements, which will enhance

 

cooperation in various sectors, hence enhancing relationships.

 

" I believe today's deliberations will allow us to reflect on the areas of
cooperation that we are already committed to and to further explore new
areas of possible cooperation," he said.

 

Negotiations underway are taking place in an expectant and cordial
atmosphere with Ethiopian Ambassdor to Uganda Etsegenet Bezabih Yimenu
underscoring the importance of concluding bilateral MoUs to serve as
frameworks to strengthen the relationship, seeing it as an opportunity to
deepen collaboration in defence and security cooperation.

 

Uganda's Ambassador to Ethiopia and Permanent Representative to the African
Union and Economic Commission to Africa,Rebecca Amuge Otengo underscored the
importance of regular JMCs in offering opportunities to review the progress
of the bilateral relationship.

 

She emphasized the role of the respective Ministries of Foreign Affairs in
ensuring that the decisions are implemented but also that the relationships
flourish.

 

Read the original article on Nile Post.

 

 

 

 

Uganda Airlines Leads Community Clean-Up in Entebbe to Enhance Aviation
Safety

Entebbe, Uganda — In a bid to promote environmental conservation and enhance
aviation safety, Uganda Airlines has launched a community clean-up
initiative in Kigungu, Entebbe.

 

The airline conducted its first clean-up last weekend as part of its broader
Flight Path Sustainability Project, aimed at mitigating bird strikes at
Entebbe International Airport through better waste management.

 

The initiative, carried out in collaboration with Kigungu residents and
local leaders, focused on collecting and disposing of waste, particularly
plastic and byproducts from fish processing, which have long contributed to
bird activity in the area.

 

 

The accumulation of garbage along the shores of Lake Victoria has
historically attracted birds in search of food, thereby increasing the risk
of bird strikes on aircraft flight paths--one of the most significant safety
concerns for aviation.

 

Speaking at the event, Shaiklah Rahim Lamar, Head of Corporate Affairs and
Public Relations at Uganda Airlines, emphasized the importance of reducing
bird-attracting waste to ensure safer skies. Entebbe, known for its bird
sanctuary, sees high bird traffic from nearby Mabamba Bay, a factor that
significantly increases bird strike risks during takeoff and landing. Such
incidents can lead to costly flight disruptions, grounded aircraft, and
cancellations.

 

The Flight Path Sustainability Project, launched in November 2022, aims to
reduce bird concentrations around the airport by 40% while encouraging
community-led waste management solutions. The project also creates economic
opportunities for residents by transforming waste into valuable resources,
promoting recycling initiatives.

 

Uganda Airlines reaffirmed its commitment to sustainability and
environmental stewardship, stating that engaging local communities in
initiatives such as this monthly clean-up will not only enhance aviation
safety but also improve sanitation and public health.

 

The clean-up exercise will now take place on the last Saturday of every
month, ensuring a long-term impact in maintaining a safer and cleaner
environment around Entebbe International Airport.

 

Read the original article on Independent (Kampala).

 

 

 

Nigeria: NCAA Warns Foreign Airlines Over Deportation of Nigerians
Mid-Travel

The Nigerian Civil Aviation Authority of Nigeria (NCAA) has threatened
regulatory action, including but not limited to fines, suspension of flight
operations, or other measures deemed appropriate to international airlines
operating in Nigeria that denied boarding and deportation of Nigerians
mid-travel.

 

The warning came following complaints about airlines selling tickets to
passengers, airlifting them halfway to their destinations and deporting them
to Nigeria.

 

The Authority said the refusal of boarding and entry at intermediate and
transit stops to some Nigerians due to visa or travel restrictions causes
distress to passengers and tarnished the reputation of the aviation industry
in Nigeria.

 

 

The NCAA, in a statement by the director of Consumer Protection and Public
Affairs, Michael Achimugu, declared effective immediately, any airline found
to be engaged in such practices will be subject to regulatory action,
including but not limited to fines, suspension of flight operations, or
other measures deemed appropriate.

 

The statement reads: "The Nigeria Civil Aviation Authority (NCAA) has
received several complaints about airlines selling tickets to passengers,
only to airlift them halfway to their destinations and deport them back to
Nigeria.

 

"These actions, which involved the refusal of boarding/entry at
intermediate/transit stops to some Nigerians due to visa/travel restrictions
are causing significant distress to passengers and tarnishing the reputation
of the aviation industry in Nigeria.

 

"The NCAA finds such practices completely unacceptable. It is the
responsibility of airlines to inform passengers about any potential barriers
to their admissibility at their destination before they commence their
travel. Passengers should not be put in a position where they are denied
entry or returned to Nigeria only on arrival at intermediate/transit stops.

 

"In line with the provisions of Nigeria Civil Aviation Regulations 2023 Part
19.21.1.1, all airlines and their agents shall ensure that passengers are
informed of any potential admissibility issues or travel restrictions in
advance of their departure".

 

The statement added, "Airlines must take appropriate measures to screen and
provide passengers with accurate, up-to-date information regarding their
travel documents and visa requirements before issuing a ticket and
proceeding to board them.

 

"In light of this, the NCAA informs all international airlines operating in
Nigeria that the Authority will no longer tolerate these occurrences.

 

"Effective immediately, any airline found to be engaged in such practices
will be subject to regulatory action, including but not limited to fines,
suspension of flight operations, or other measures deemed appropriate."

 

The Authority said it expects the cooperation of all airlines in maintaining
the integrity and professionalism of the aviation industry, as well as
ensuring the well-being of Nigerian passengers.

 

Read the original article on Leadership.

 

 

 

Africa Must Act Boldly and Wisely in the AI Revolution

President Paul Kagame's address at the Global AI Summit in Kigali delivered
a timely and necessary wake-up call to African leaders: the artificial
intelligence revolution is here, and the continent cannot afford to be left
behind again.

 

The opportunities are immense. As highlighted during the summit, AI has the
potential to add up to $30 billion to sub-Saharan Africa's economy by 2030
and lift the continent's GDP by 3 per cent.

 

But these gains will not come automatically. They will require deliberate,
strategic investments in infrastructure, education, and policy frameworks.

 

Kagame rightly emphasised the urgency of investing in digital infrastructure
and building a skilled workforce. Without reliable internet, stable power
supply, and AI-ready education systems, African countries risk becoming
passive consumers of AI technologies developed elsewhere, rather than active
contributors to the global AI economy.

 

 

Yet the road ahead is complex. As Kagame noted, global AI development is
already being shaped by geopolitical rivalries and dominated by a few
technologically advanced nations.

 

In this context, Africa must work together through initiatives like the
newly proposed Africa AI Council and support from bodies like the African
Union and Smart Africa to chart its own course. A unified, continental
strategy will be essential in shaping fair and equitable AI policies that
benefit all member states.

 

The private sector also has a crucial role to play. Investment in AI
start-ups, centers of excellence, and youth-focused innovation hubs like
Rwanda's Centre for the Fourth Industrial Revolution must be scaled across
the continent.

 

Africa's young population, as noted by Crystal Rugege, is a unique
competitive advantage. But that potential must be unlocked with practical
support: training programs, job creation, and legal protections in the
digital realm.

 

Ultimately, Africa's AI future must be both bold and inclusive. The call to
action is clear. The question now is whether Africa's leaders, businesses,
and institutions can rise to the challenge, not only to catch up, but to
lead with a distinctly African vision of technological progress.

 

Read the original article on New Times.

 

 

 

 

 

 

Africa: Too Much Control Stifles AI, Experts Warn Governments

Experts at the Global AI Summit on Africa have urged governments across the
continent to ease regulatory barriers and create space for private sector
investment, citing limited public resources as a key challenge to advancing
Africa's artificial intelligence agenda.

 

ALSO READ: Africa must not be left behind, Kagame tells AI Summit

 

Musalia Mudavadi, Kenya's Prime Cabinet Secretary and Cabinet Secretary for
Foreign and Diaspora Affairs, said that the priority for governments should
be policy-making that does not limit the private sector from taking lead.

 

"As governments, we do not have enough resources to drive this agenda, we
must loosen up and allow the private sector to thrive in all our economies.
The policy decisions must be accelerated," he said.

 

Speaking on the panel 'Leading in the Age of AI' at the ongoing Global AI
Summit on Africa, Mudavadi addressed a diverse audience of global leaders,
government ministers, heads of state, tech giants, investors, academics, and
researchers.

 

 

Bringing together more than 1,000 participants, the summit was held under
the theme "AI and Africa's Demographic Dividend: Reimagining Economic
Opportunities for Africa's Workforce."

 

By 2030, AI stands to add $19.9 trillion to the global economy--injecting
$2.9 trillion into Africa's economy. This could lift 11 million Africans out
of poverty and create 500,000 jobs annually.

 

However, African leaders are expected to navigate complex economic, social,
and geostrategic dynamics to lead and maximize the potential of AI. Despite
the progress, Africa is still scratching the surface amid the global rush to
lead in the AI era in terms of solutions and innovations.

 

Mudavadi emphasised that governments should avoid interfering with one
another through tariff barriers, especially when accelerating connectivity
is at stake.

 

 

Investing in talent, skills

 

Although governments like Kenya's have increased budget allocation to
technology, Mudavadi questioned whether such investments are truly hitting
the mark.

 

"The budget may be expansive, but are we targeting it where it should be?"
he asked, stressing the importance of directing resources toward equipping
young people with the right digital and AI skills from an early age.

 

Strive Masiyiwa, Founder and Executive Chairman of Econet Group, emphasized
that Africa's entry into the AI space hinges on bold investments in
education.

 

"We will not have a place at this table if our kids can't do math, code, or
study the sciences," he said. "We have to go back and fundamentally fix our
education systems. We must skill our young people. We are a continent of
hustlers, but a hustler without skills in the age of AI will sleep hungry."

 

 

ALSO READ: Rwanda set to integrate AI into ICT legal framework

 

Last week, Zimbabwean billionaire and Global AI Summit co-chair Strive
Masiyiwa unveiled plans to launch an AI factory in South Africa by June
2025, powered by advanced chips from U.S. tech giant Nvidia.

 

The facility, a high-performance data center, will serve as a continental AI
powerhouse, leveraging Nvidia's cutting-edge graphics processing Uunits
(GPUs).

 

Initially based in South Africa, the initiative will expand to Egypt, Kenya,
Morocco, and Nigeria.

 

"When we open up these five compute centres, they are for the entire
continent. For young researchers who want to access supercomputers, work on
an App in Togo or Accra, they will access our compute capacity, paying
little they can."

 

He emphasised that access won't be limited to elite institutions: "The
future belongs to young people building apps, solutions, and small
businesses across this continent using AI. They are the digital natives, we
just have to give them the tools to do what they do best."

 

Masiyiwa also called on African governments to create investment-ready
ecosystems that attract and retain private sector players.

 

"You have to listen to what we need to feel comfortable raising capital to
do this," he said. "Otherwise, business will shift to other places where the
environment is more conducive."

 

This was further stressed by Doreen Bogdan-Martin, Secretary General,
International Telecommunications Union (ITU), who called for political will
and understanding the digital impact for countries and regions.

 

She highlighted that governments have to find a balance between regulatory
approaches and letting innovation flourish.

 

Bogdan-Martin pointed out that lowering the cost of digital technologies and
investing in digital infrastructure, as well as closing the digital gap to
avoid AI-induced inequalities, should be a priority for the continent.

 

Read the original article on New Times.

 

 

 

 

 

Nigeria: 'Air Peace's London Flight, Emirates' Return Reduced Int'l Air
Fares'

On the international scene, Ohunayo noted that the introduction of Air Peace
on the Lagos-London route and the return of Emirates were able to bring down
fares marginally.

 

He added, "It also helped in increasing the number of passengers on the
international routes and other airlines like Rwanda Air and Air Maroc etc
had to adjust their fares with the introduction of Air Peace and with that
there were more people who took advantage of that to travel.

 

Airlines recorded 1,320 cancelled flights, 38,061 delays in 2024

 

Meanwhile, both international and domestic airline operators recorded 1,320
cancelled flights and 38,061 delays in 2024.

 

 

In an executive summary on international and domestic flight operations for
2024 released by the NCAA, domestic airlines, with 15 operators, recorded
33,235 delayed flights, while international airlines, with 30 operators, had
4,426 delays.

 

Regarding cancellations, international airlines recorded 131 canceled
flights, while domestic airlines had 1,189 cancellations.

 

Overall, the aviation authority said 70,543 flights were operated in the
domestic space, while 14,359 flights were recorded in the international
sector in 2024.

 

The data showed that among the 30 airlines that operated the international
space, Delta Airline, Value Jet and Uganda Air recorded the highest number
of delays.

 

The report said Value Jet (100 per cent) delayed all its four flights, Delta
Airline (60 per cent) delayed 235 out of 390 operations and cancelled nine
flights.

 

More so, Uganda Air recorded 96 delayed flights (57 per cent) out of 168
operated in the year under review.

 

On the contrary, Virgin Atlantic had the least number of delays in
international flights, with the airline recording 26 delays out of 362
operations, representing 8 per cent and just one cancelled flight.

 

Other airlines with low records are United Airlines, with 18 delayed flights
out of 171 operations (11 per cent) and Saudi Air with 19 delays,
representing 16 per cent of 121 operations.

 

According to the NCAA, Air Peace had the highest number of flight delays in
2024.

 

The airline recorded 7,619 delayed flights out of 15,413 operations in the
year.

 

Next on the list is United Airlines, with 4,559 delayed flights out of 7,794
operations.

 

Arik Air clinched third place with 5,027 as the total number of delayed
flights out of 10,699 flights operated.

 

In terms of cancelled flights, the three flights with the highest records in
2024 were Air Peace (333), Arik Air (215), and Ibom Air (140).

 

Read the original article on Daily Trust.

 

 

 

Nigeria: Court Declines Jurisdiction Over Lagos-Calabar Coastal Road
Controversy

The Federal High Court in Lagos has struck out a lawsuit challenging the
Lagos-Calabar Coastal Road project, ruling that it lacks jurisdiction over
the matter.

 

The case filed by indigenes and property owners of Okun-Ajah Community in
Eti-Osa Local Government Area has been transferred to the Lagos State High
Court for adjudication.

 

Justice Akintayo Aluko, in his ruling on case number FHC/L/CS/1488/2024,
upheld preliminary objections raised by the defendants and ruled that the
Federal High Court was not the appropriate venue for the case.

 

The judge however agreed to transfer the matter rather than dismiss it
outright.

 

 

The plaintiffs, led by Chief Saheed Olukosi and other community
representatives had sought to halt the project, alleging encroachment on
their properties.

 

They requested court orders to set aside the road plans affecting their land
and to restrain the defendants from further trespass. They also sought
damages for alleged unlawful land occupation.

 

The defendants, including the Minister of Works, Dave Umahi, the Federal
Ministry of Works and Housing, the Lagos State Attorney-General, and Hitech
Construction Limited, argued that the case should be struck out for lack of
jurisdiction.

 

Their legal teams, led by Senior Advocates of Nigeria, filed preliminary
objections on seven grounds.

 

In his judgment, Justice Aluko cited Section 22(2) of the Federal High Court
Act, which allows for cases to be transferred rather than struck out when
filed in the wrong court.

 

He ruled in favour of the defendants' objections but granted the plaintiffs'
request for the case to be heard at the Lagos State High Court instead.

 

With this decision, the dispute over the Lagos-Calabar Coastal Road project
will now proceed in the state court.

 

Read the original article on This Day.

 

 

 

 

African Leaders Seek to Set Up a Continental AI Fund

African countries are working towards the creation of a continent Artificial
Intelligence (AI) fund that will finance the much-needed infrastructure,
skills, and energy to drive AI adoption and transformation.

 

ALSO READ: Africa must not be left behind, Kagame tells AI Summit

 

This was disclosed at the ongoing Global AI Summit on Africa held under the
theme "AI and Africa's Demographic Dividend: Reimagining Economic
Opportunities for Africa's Workforce."

 

It brought together more than 1,000 participants including global leaders,
government ministers, heads of state, tech giants, investors, academics, and
researchers.

 

Speaking at this summit, President Paul Kagame argued that there is an
urgent need for strategic investments in digital infrastructure, workforce
development, and continental integration for Africa to secure its AI-driven
future.

 

"Africa can't afford to be left behind, once again playing catch up. We have
to adopt, cooperate, and compete because it is in our best interest to do
so."

 

 

In a panel discussion entitled 'Africa and the AI Opportunity', Paula
Ingabire, Minister of ICT and Innovation announced: "One of the outcomes we
are looking forward to at the end of this summit is the creation of an AI
fund where we can have a commitment as African countries, stakeholders and
partners to mobilize resources that are needed to develop the much-needed
compute infrastructure, talent, and energy."

 

Africa only makes up four percent of the global AI workforce, she noted that
it is important that all 54 African nations come together to make sure that
the continent has the critical mass of people that are going to build
innovations that leverage AI and drive development.

 

ALSO READ: Rwanda could earn Rwf730bn from Artificial Intelligence - new
study

 

ALSO READ: Rwanda set to integrate AI into ICT legal framework

 

By 2030, AI stands to add $19.9 trillion to the global economy--injecting
$2.9 trillion into Africa's economy. This could lift 11 million Africans out
of poverty and create 500,000 jobs annually.

 

With the implementation of the National AI Policy, Rwanda expects an
estimated $589 million (approx. Rwf731 billion), representing six percent of
Gross Domestic Product (GDP) over the next five years.

 

James Mwangi, Group Managing Director and CEO of Equity Group Holding,
stressed the need to move from the "narrow" mentality that sets apart public
and private initiatives to create an AI public infrastructure that benefits
the population across the continent.

 

"We should invest together. I will be rallying for the participation of the
private sector to build a public digital infrastructure that benefits all
and lifts everybody on the continent."

 

Mwangi noted that what will really change the game is adoption of AI by SMEs
because it radically improves business intelligence, value chain efficiency,
targeted customer support, and the capability to participate and enjoy all
the benefits of e-commerce.

 

Wamkele Mene, Secretary General of African Continental Free Trade Area,
maintained that the fund will help mobilize investment in digital public
infrastructure to enable economic development.

 

However, he highlighted that it is important to measure the progress in the
number of countries that have actually implemented the harmonized digital
single market rules agreed on.

 

According to Jeremy Jurgen, Managing Director of the World Economic Forum,
progress on AI infrastructure could unlock benefits for smallholder farmers,
SMEs and more than 800 million youth that are AI-natives.

 

Read the original article on New Times.

 

 

 

 

Africa: Twenty African Countries, Including Poorest, Hit with High Trump
Tariffs

The country that President Donald Trump declared "nobody's ever heard of"
during his 4 March address to Congress has been hit with the highest U.S.
tariffs in the world. Lesotho tops the list of 20 African nations upon which
the White House has announced what it calls "reciprocal" tariffs, which add
to the baseline imposed on every country.

 

The executive order Trump signed yesterday lists levies applied to African
nations, showing the worst-affected, after Lesotho's 50 percent, are
Madagascar - 47 percent; Mauritius - 40 percent;  Botswana - 38 percent;
Angola - 32 percent; Libya – 31 percent; and South Africa - 31 percent.

 

Trump announced an across-the-board additional tariff of 10 percent on most
goods imported into the U.S. from Saturday, with some exceptions – the main
ones being steel and aluminium articles, cars and parts already subject to
certain tariffs. copper, pharmaceuticals, semi-conductors, lumber articles,
bullion, energy and certain minerals not available in the United States.

 

 

The higher tariffs for 20 African nations, as well as for many other
countries across the world, come into effect on Wednesday April 9.

 

Other African countries being levied tariffs in excess of 10 percent are:

 

Algeria, 30 percent; Tunisia, 28 percent; Namibia and Cote d'Ivoire, 21
percent;

Zimbabwe 18 percent; Malawi and Zambia, 17 percent; Mozambique 16 percent;

Nigeria, 14 percent, Chad and Equatorial Guinea, 13 percent; Cameroon, 12
percent, and the Democratic Republic of the Congo, 11 percent.

The White House said the highest tariffs are being imposed on the countries
with which the U.S. has the largest trade deficits, with the aim of boosting
American manufacturing, jobs and economic security.

 

It claimed that "for generations, countries have taken advantage of the
United States". In one example it contended: "For decades, South Africa has
imposed animal health restrictions that are not scientifically justified on
U.S. pork products, permitting a very limited list of U.S. pork exports to
enter South Africa.

 

 

"South Africa also heavily restricts U.S. poultry exports through high
tariffs, anti-dumping duties, and unjustified animal health restrictions.
These barriers have contributed to a 78% decline in U.S. poultry exports to
South Africa, from $89 million in 2019 to $19 million 2024."

 

Retaliation for "health restrictions" is not limited to Africa.

 

For example, U.S. Secretary of Commerce Howard Lutnick complained yesterday
that the "European Union won't take chicken from America
They hate our beef,
because our beef is beautiful and theirs is weak" - a comment that inspired
a predictable spate of caricatures and jokes on social media. The European
Union has barred imports of U.S. beef under a 1989 health regulation that
banned the use of growth hormones in the EU.

 

The president threatened to impose even higher tariffs if trading partners
retaliate with higher tariffs on imports from the U.S.

 

He said the level of the new tariffs is being set at half the rate levied on
American imports by the nations concerned. But the administration's
calculations of these rates have been contested in the British media.

 

Listing the White House claims of tariffs charged by trading partners, The
Guardian included a caveat, saying they were "Trump-defined", included U.S.
assessments of "currency manipulation and trade barriers" and "so don't
necessarily align with the tariffs published by countries concerned."

 

The Sky News U.S. correspondent, Mark Stone, said the calculations were made
"by very questionable White House arithmetic" and a claim that Lesotho
levied U.S. imports at 99 percent was a "wild claim".

 

"In fact, it's part of a southern African trade pact with other nations
which have been levied at lower levels. Lesotho's textile industry is
heavily reliant on U.S. exports. It's a country where 56.2 percent of the
population lives on less than $3.65 a day, according to the World Bank. You
don't need to 'do the maths' to see the impact."

 

Stone added: "Nearly half of Lesotho's exports are diamonds. Trump's driver
for all this is to bring manufacturing back home. Is his sledgehammer on
Lesotho going to conjure up a diamond industry in Pennsylvania?"

 

Tami Hultman contributed to this report.

 

 

 

Kenya Faces Export Hurdles As U.S. Tariff Shift Disrupts Trade

Nairobi — Kenya's exports to the United States face a fresh challenge
following a tariff shift by the U.S., a move that could further widen
Kenya's trade imbalance, currently at Sh1.7 trillion (12 percent of GDP).

 

The Kenya National Chamber of Commerce and Industry (KNCCI) has raised
concerns over the new trade policy, warning that it could significantly
impact exporters, investors, and key industries reliant on U.S. markets.

 

While Kenya is unlikely to retaliate with higher import tariffs, the KNCCI
plans to convene an urgent meeting with stakeholders to discuss mitigation
strategies.

 

 

"The reciprocal tariffs by the Trump Administration are a wake-up call to
reassess Kenya's economic structure since 1960. This presents a unique
opportunity to build resilient local industries, particularly in IT, digital
technology, equipment, and machinery, to drive industrialization," KNCCI
noted in a statement.

 

To counter the 10 percent tariff increase, the Chamber, in partnership with
the Ministries of Trade, Investments & Industry, and Foreign & Diaspora
Affairs, will explore alternative export opportunities and new global
markets.

 

Meanwhile, policy support and lobbying efforts will be intensified to
enhance Kenya's ease of doing business and help investors navigate the
evolving trade landscape.

 

The tariff hike also reinforces the need for Africa to accelerate
intra-regional trade by facilitating capital flows, expanding trade-in
services, and opening domestic markets to enhance self-reliance and economic
resilience.

 

Read the original article on Capital FM.

 

 

 

Lesotho Hit With Highest Tariff in the World By Trump

U.S. President Donald Trump has imposed a 50% tariff on imports from
Lesotho--the highest for any sovereign nation

The southern African kingdom becomes one of the biggest targets in the
administration's push to offset trade imbalances with over 180 countries

Lesotho exported $264 million more to the U.S. than it imported in 2022,
mainly in diamonds and apparel, according to data from the Tralac Trade Law
Centre.

U.S. President Donald Trump has imposed a 50% tariff on imports from
Lesotho--the highest for any sovereign nation under his newly announced
reciprocal tariff framework. The southern African kingdom becomes one of the
biggest targets in the administration's push to offset trade imbalances with
over 180 countries.

 

The tariff, calculated using a formula based on Lesotho's 2024 trade surplus
with the U.S., was "discounted" from a full reciprocal rate of nearly 100%.
Lesotho exported $264 million more to the U.S. than it imported in 2022,
mainly in diamonds and apparel, according to data from the Tralac Trade Law
Centre.

 

 

Lesotho currently imposes a 99% tariff on U.S. goods. Roughly 70% of its
exports to the U.S. had qualified for duty-free access under AGOA. Its trade
ministry declined to comment. Lesotho now joins Saint Pierre and Miquelon at
the top of the tariff list as the Trump administration targets small
economies with large U.S. surpluses.

 

Daba is Africa's leading investment platform for private and public markets.
Download here

 

Key Takeaways

 

The tariff on Lesotho highlights growing tensions between the U.S. and
Africa over trade fairness and development strategy. The country's largest
exports--apparel and diamonds--had benefited from U.S. duty-free access
under AGOA, a cornerstone of U.S.-Africa trade policy for two decades.
Lesotho's export-led strategy, developed in part with U.S. support, has
helped create manufacturing jobs in a country where many youth migrate to
South Africa in search of work. Now, with a 50% tariff, its competitive edge
in the U.S. market is at risk. Economists warn the tariffs could undermine
efforts to foster industrialization in Africa. Bloomberg Africa economist
Yvonne Mhango said targeting Lesotho--despite its small size and strategic
dependency on exports--runs counter to Washington's past trade and
development messaging. If other AGOA beneficiaries face similar
recalculations, it could accelerate Africa's pivot toward trade partners
offering more stable market access, including China, the EU, and Gulf
nations.

 

Read the original article on Daba Finance.

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


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