Major International Business Headlines Brief ::: 24 April 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  24 April 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  South Africa: Finance Minister Suspends VAT Hike

ü  West African Group Ecowas Turns 50 Amid Struggle to Stay United

ü  Nigeria: Air Peace Suspends Flight Operations, Gives Reason

ü  Nigeria in Talks With JP Morgan to Re-Enter Govt Bond Index, Renew
Investors' Confidence

ü  Nigeria: Govt to Re-Evaluate Current Fiscal Regime Offered Steel Industry
to Boost Local Production

ü  Ethiopia's Access to the Sea, Owning Ports Is No More a Taboo but an
International Agenda

ü  Nigeria: Govt Set to Inaugurate Ports, Customs Efficiency Committee

ü  South Africa: Proposed VAT Increase to Be Reversed

ü  Kenya: Ruto Welcomed to China With 21-Gun Salute Ahead of Talks With XI

ü  Africa: Senegal Will Be Sub-Saharan Africa's Fastest-Growing Economy in
2025

ü  Kenya: Poor Internet, One of the Hindrances to SHA Registration in
Baringo

ü  Namibia: Busch Backs Budget

 


 <mailto:info at bulls.co.zw> 

 


 

 

South Africa: Finance Minister Suspends VAT Hike

Finance Minister Enoch Godongwana scrapped the planned 0.5% Value Added Tax
(VAT) increase, which was set to take effect on May 1, keeping the VAT rate
at 15%.

 

Godongwana informed the Speaker of the National Assembly, Thoko Didiza, of
his decision to withdraw the plan.

 

The National Treasury issued this statement:

 

"The Minister of Finance will shortly introduce the Rates and Monetary
Amounts and the Amendment of Revenue Laws Bill (Rates Bill), which proposes
to maintain the Value-Added Tax (VAT) rate at 15 per cent from 1 May 2025,
instead of the proposed increase to VAT announced in the Budget in March.

 

The decision to forgo the increase follows extensive consultations with
political parties, and careful consideration of the recommendations of the
parliamentary committees. By not increasing VAT, estimated revenue will fall
short by around R75-billion over the medium-term.

 

 

As a result, the Minister of Finance has written to the Speaker of the
National Assembly to indicate that he is withdrawing the Appropriation Bill
and the Division of Revenue Bill, in order to propose expenditure
adjustments to cover this shortfall in revenue. Parliament will be requested
to adjust expenditure in a manner that ensures that the loss of revenue does
not harm South Africa's fiscal sustainability.

 

The decision not to increase VAT means that the measures to cushion lower
income households against the potential negative impact of the rate increase
now need to be withdrawn and other expenditure decisions revisited.

 

To offset the unavoidable expenditure adjustments, any additional revenue
collected by SARS may be considered for this purpose going forward. The
Minister of Finance expects to introduce a revised version of the
Appropriation Bill and Division of Revenue Bill within the next few weeks.

 

The initial proposal for an increase to the VAT rate was motivated by the
urgent need to restore and replenish the funding of critical frontline
services that had suffered reductions necessitated by the country's
constrained fiscal position. There are many suggestions, however, some of
them would create greater negative consequences for growth and employment
and some of them, while worthwhile, would not provide an immediate avenue
for further revenue in the short term to replace a VAT increase.

 

The National Treasury will, however, consider these and other proposals as
potential amendments in upcoming budgets as mechanisms to increase the
resources available."

 

The decision followed extensive consultations with political parties and
careful consideration of recommendations from parliamentary committees. The
Democratic Alliance (DA) argued that the tax hike would intensify South
Africa's cost-of-living crisis.

 

The move resulted in an estimated revenue shortfall of around R75 billion
over the medium term. Parliament was expected to adjust expenditure to
maintain fiscal sustainability. The move also meant withdrawing previously
proposed measures to cushion low-income households against the impact of the
VAT hike.

 

A revised version of the Appropriation Bill and Division of Revenue Bill
will now be presented within the next few weeks.

 

 

 

 

West African Group Ecowas Turns 50 Amid Struggle to Stay United

Celebrations marking 50 years of the Economic Community of West African
States - known as Ecowas - began in Ghana this week, but the mood was far
from jubilant. The region's main political and economic bloc finds itself at
a crossroads after losing three key members.

 

Mali, Burkina Faso and Niger all walked away from the group in January,
dealing a major blow to an organisation already struggling with security
threats and economic challenges.

 

Ecowas was born in Lagos on 28 May, 1975 with the goal of bringing West
African nations closer together. Five decades later, that ambition is facing
its toughest test yet.

 

 

The anniversary celebrations, launched in Accra, will continue throughout
the year, with events planned across all Ecowas member states.

 

But beyond the speeches, leaders are grappling with serious questions about
how the body can survive amid growing divisions and rising security threats.

 

Fighting for relevance

 

Ecowas has reinvented itself before. When civil war broke out in Liberia in
1990, it created its own peacekeeping force. Later, it expanded its mission
to handle security and promote democracy.

 

But the rise of violent extremist groups across the region proved too much.

 

"Ecowas was not equipped for this," Amandine Gnanguénon, a senior researcher
at the Africa Policy Research Institute in Berlin, told RFI. "It [was]
difficult to simultaneously establish mechanisms, intervene and focus on
prevention. It was overwhelmed and lost control of its agenda."

 

 

Three Sahel nations exit West African bloc as regional politics shift

 

As Ecowas struggled, other groups such as the G5 Sahel and the Accra
Initiative have stepped in.

 

Now the departure of Mali, Burkina Faso and Niger - who formed their own
group, the Alliance of Sahel States (AES), in September 2023 - has further
weakened the bloc.

 

Experts say deep reform is the only way for Ecowas to survive.

 

"It needs to return to its original goals - stronger economic and political
integration. And it must reconnect with ordinary people by making its work
more visible," said Gnanguénon "Many people don't know what Ecowas is. I
think there is a big communication gap."

 

But real change, she added, will only happen if West African leaders are
willing to act. It is the heads of state, not Ecowas officials, who hold the
power to push through reforms when they meet as the conference of
presidents.

 

Mixed success

 

Ecowas has had some successes, notably in making it easier for people to
work and travel across borders.

 

"This is the great achievement," said Senegalese researcher Pape Ibrahima
Kane, pointing to the Ecowas identity card that lets citizens work in any
member country without a residence permit.

 

He also praised a regional tax that helps align customs duties.

 

But bloc has fallen short of many of its bigger goals. Only one major
transport corridor - linking Abidjan to Lagos - has been built. Trade within
the region remains stuck at less than 15 percent of total exports.

 

Plans for a single currency have been shelved several times. Nigeria, meant
to be the region's economic powerhouse, has been too caught up in its own
political and security problems to lead effectively.

 

Fears for the future in Mali, Niger and Burkina Faso over Ecowas withdrawal

 

Market worries

 

For traders in Côte d'Ivoire, the split with Ecowas members brings
real-world problems. At Abidjan's busy Adjamé market, where vendors come
from across West Africa, anxiety is growing.

 

Adama, who imports traditional bogolan fabric from Burkina Faso to sell in
Abidjan, fears for his business.

 

"We are traders. We need to be able to travel from Côte d'Ivoire to sell in
Burkina, and from Burkina to sell in Côte d'Ivoire. If the two countries
don't get along, it's bad for us," he said. "We just want them to get along
- that would make us happy."

 

Many traders share this fear of new restrictions on movement between
countries. There's also worry about customs charges eating into their
profits.

 

"The exit of the AES countries will lead to tariff barriers and this could
negatively affect jobs if companies cannot find new markets outside the AES,
or if AES companies cannot find other markets outside of Ecowas," said
Ivorian economist Alban Ahouré.

 

Despite these concerns, trade links with the AES states remain strong.

 

Mali and Burkina Faso together still account for 13.5 percent of Côte
d'Ivoire's exports. All three breakaway nations also remain part of the West
African Economic and Monetary Union, sharing the common CFA franc currency.

 

Read or Listen to this story on the RFI website.

 

 

 

 

Nigeria: Air Peace Suspends Flight Operations, Gives Reason

Flight delays and cancellations were recorded in Lagos, Abuja, and Kano
airports on Wednesday

 

The management of Air Peace announced on Wednesday that it has suspended all
flight operations due to the ongoing industrial action by employees of the
Nigeria Meteorological Agency (NiMet).

 

In a statement issued by the airline and posted on its official X page, it
said the ongoing strike action by NiMet staff may cause disruptions,
including possible flight delays and cancellations.

 

"We are currently monitoring the situation and working with relevant
stakeholders to minimise the impact on your travel plans," the airline said,
noting that it will provide updates as the situation evolves.

 

On Wednesday, NiMet employees commenced an indefinite strike to protest poor
wages among other issues.

 

PREMIUM TIMES gathered that the action of the striking workers disrupted
flight schedules across major airports in the country.

 

 

Flight delays and cancellations were recorded in Lagos, Abuja, and Kano
airports on Wednesday as NiMet workers staged protests across the
facilities.

 

A video making the rounds on social media shows workers participating in a
procession while carrying placards and banners that displayed various
slogans intended to express their dissatisfaction.

 

The participants were seen chanting, "No weather, no flight; fly at your own
risk."

 

NiMet is the Nigerian agency saddled with the responsibility of advising the
government on all aspects of meteorology, including weather forecasting and
climate prediction.

 

The agency also plays a crucial role in collecting, processing, and
disseminating meteorological data to various sectors of the economy,
including the aviation industry.

 

PREMIUM TIMES gathered that some of the issues that triggered the industrial
action on Wednesday stemmed from the agency's failure to negotiate or
implement agreed financial allowances and unresolved entitlements, including
wage awards, peculiar allowances, and the recently approved minimum wage
increase.

 

NiMet official speaks

 

When contacted on Thursday, a top NiMet official who asked not to be quoted
since he was not authorised to speak on the issue, told PREMIUM TIMES that
the "management is disappointed with the hardline" position taken by the
striking unions because some of the issues in dispute have been resolved,
while others are in various stages of resolution.

 

"It is surprising that the unions resorted to strike action because the
unions themselves recently wrote and thanked management for its labour
friendly policies. Makes you wonder if there are other motives or there are
people bent on sabotaging management," the official said.

 

He explained that the management is not relenting in reaching an amicable
resolution with the unions so that normal services will be restored.

 

He said the Minister of Aviation and Aerospace Development, Festus Keyamo,
has scheduled a meeting with all the parties for Thursday (today).

 

"We are hopeful that the unions will listen to reason. No one bites off his
nose to spite his face," he noted.

 

NiMet has yet to issue an official statement but the agency is expected to
do so after the meeting with the minister.

 

Read the original article on Premium Times.

 

 

 

 

 

Nigeria in Talks With JP Morgan to Re-Enter Govt Bond Index, Renew
Investors' Confidence

"With all the reforms that have taken place, particularly around FX, we have
started engaging JP Morgan again to get back into the index. We think we are
eligible now," the DMO DG said.

 

The Director-General of the Debt Management Office (DMO) on Wednesday said
Nigeria is in advanced discussions with JP Morgan to re-enter the Government
Bond Index (GBI) and renew investors' confidence.

 

Ms Oniha made this disclosure at a Nigerian Investors' Forum held on the
sidelines of the World Bank and International Monetary Fund (IMF) Spring
Meetings in Washington, D.C.

 

The DMO boss explained that Nigeria has enjoyed favorable credit assessment
among rating agencies in recent times on the back of the sweeping reforms
initiated by the Central Bank of Nigeria (CBN).

 

Fitch Ratings recently upgraded the Long-Term Issuer Default Ratings (IDRs)
of seven Nigerian banks and two bank holding companies to 'B' from 'B-',
noting that the outlooks are Stable. The affected issuers are Access Bank
Plc, Zenith Bank Plc, United Bank for Africa Plc (UBA), Guaranty Trust Bank
Limited (GTB), Guaranty Trust Holding Company Plc (GTCO), First HoldCo Plc
(FHC), First Bank of Nigeria Ltd (FBN), Fidelity Bank PLC and Bank of
Industry Limited (BOI).

 

The upgrades of the Long-Term IDRs of the banks followed the recent
sovereign upgrade and reflect Fitch's view that Nigeria's sovereign credit
profile has become less of a constraint on the issuers' standalone
creditworthiness, the rating agency said.

 

Fitch also upgraded Nigeria's Long-Term IDRs to 'B' from 'B-' on 11 April, a
decision that reflected increased confidence in the government's broad
commitment to policy reforms implemented since its move to orthodox economic
policies in June 2023, including exchange rate liberalisation, monetary
policy tightening and steps to end deficit monetisation and remove fuel
subsidies.

 

 

"These have improved policy coherence and credibility and reduced economic
distortions and near-term risks to macroeconomic stability, enhancing
resilience in the context of persistent domestic challenges and heightened
external risks," Fitch said.

 

Nigeria was removed from the JP Morgan index in 2015 ostensibly due to its
deviation from orthodox monetary policies and influence of capital control
in its management of foreign exchange.

 

Principally due to reduction in oil revenues at the time, Nigeria introduced
currency restrictions to defend the naira after it failed to halt a
dangerous slide with burning of dollar reserves. The bank had earlier warned
Nigeria to restore liquidity to its currency market in a way that allowed
foreign investors tracking the index to conduct transactions with minimal
hurdles.

 

"Foreign investors who track the GBI-EM series continue to face challenges
and uncertainty while transacting in the naira due to the lack of a fully
functional two-way FX market and limited transparency," the bank said in a
2015 note.

 

Nigeria was listed in JP Morgan's emerging government bond index in October
2012, after the central bank removed a requirement that foreign investors
hold government bonds for a minimum of one year before exiting.

 

The JP Morgan Government Bond Index reflects investor confidence and opens
doors to billions of investment flows, making Nigeria's proposed re-entry a
positive signal to the market and investors.

 

PREMIUM TIMES could not immediately confirm the level of negotiations but on
Wednesday in Washington, Ms Oniha explained that talks with JP Morgan were
ongoing and had gained momentum in recent times due to the stability created
by the FX market reforms.

 

"With all the reforms that have taken place, particularly around FX, we have
started engaging JP Morgan again to get back into the index. We think we are
eligible now," the DMO DG said.

 

Read the original article on Premium Times.

 

 

 

 

 

Nigeria: Govt to Re-Evaluate Current Fiscal Regime Offered Steel Industry to
Boost Local Production

As Nigeria continues to push towards a $1 trillion economy by 2030 through
indigenous industrialisation, the federal government has said it will
re-evaluate the current fiscal regime offered the steel industry, as regards
duties, to boost local production in the country.

 

In a related development, Minister of Steel Development, Prince Shuaibu
Audu, inaugurated the Orbit Galvanising Steel Industries Limited and Orbit
Fabrication Works Limited located in Lagos State.

 

Audu hinted that the project, a milestone under the African Industries Group
(AIG), was a landmark achievement in Nigeria's galvanising and steel
fabrication sub-sector.

 

 

He said the inauguration of the plant was part of the activities during his
working visit to Lagos, where he engaged key private sector players in the
steel industry.

 

The developments came as the country currently imported $4 billion worth of
steel annually.

 

Audu spoke in Ikorodu, Lagos, yesterday, at the commissioning of a 36,000MT
production capacity plant of Orbit Galvanised Steel Industries, as part of
his three-day tour of some industries located around Ikorodu-Sagamu-Abeokuta
axis.

 

He acknowledged that the country had to urgently turn around the negative
trend of importing over $4 billion of steel products into the country.

 

A statement issued Wednesday in Abuja by Principal Information Officer of
the Ministry, Ijomah Opia, commended the African Industries Group for its
commitment to investing in the Nigerian steel sector to advance local
manufacturing, create jobs, and help economic sustainability, which aligned
with the Renewed Hope Agenda of President Bola Tinubu.

 

 

Opia stated that Orbit Fabrication had the capacity to produce up to 50,000
metric tons of fabricated towers annually, which brings the combined annual
production capacity of all tower fabrication companies in Nigeria to around
200,000 metric tons per annum.

 

Audu assured industry players of the government's commitment to provide an
enabling environment for them to contribute to Tinubu's quest to make
Nigeria's economy a $1 trillion economy by 2030.

 

In recognition of the importance of galvanised steel products to multiple
projects across different industries, and the overall economic development
of Nigeria, the minister revealed that the federal government had granted
concessionary import duties to importers of galvanised steel products prior
to the establishment of these plans.

 

Audu said it was important to stress that the project would play a critical
role in driving the Tnubu administration's desire for local content
policies.

 

According to him, "I can assure all industry players, especially those in
the fabrication and galvanizing sub-sector, that we are going to re-evaluate
the current fiscal regime as it relates to duties on major import raw
materials essential for production in comparison with imported finished
galvanised steel products.

 

"It is important to state that the ultimate objective will be to create an
enabling operating environment for local production through the support of
the federal government of Nigeria.

 

"The current administration stands ready to support initiatives such as this
fabrication and galvanizing plant, which is why I personally came here
myself to commission the plant, because it is fully aligned with the
national goal of industrial expansion, job creation, and economic
sustainability."

 

The minister emphasised that due to the need to maximise the country's
natural resources, the federal government was working on a metallurgical
bill to help set the framework to revamp the sector.

 

He state that the plant, a pioneer achievement of AIG in the galvanising
subsector, had further reinforced the group's commitment to invest in the
Nigerian steel sector with a focus on local manufacturing of different steel
products through backward integration for the overall benefit of this
country.

 

He stated, "Part of what we are looking to do is to create a metallurgical
industry bill where we can put fiscal incentives that can encourage local
production and encourage steel production as a whole.

 

"You are aware that we are importing about $4 billion worth of steel
products into Nigeria annually. We need to try to reverse that trend and
reduce the amount that is being imported so we can save the foreign
exchange.

 

"So, we want to encourage companies to continue to do well. Before the
metallurgical industry bill is passed, we have to be able to find ways to
encourage and create fiscal incentives to write to the relevant ministries
or agencies; whether it's the Ministry of Finance or the respective and
appropriate agency, to be able to put all these measures in place to be able
to get all the required incentives that are required."

 

Calling on end users in both the public and private sectors to patronise
locally made products, Audu said the plant could produce up to 50,000MT of
fabricated towers annually.

 

He said, "This is a very impressive number. In fact, this brings the
combined annual production capacity of all tower fabrication companies in
Nigeria to around 200,000 metric tons per annum. So, if you look at that,
that's about a 25 per cent market share that you have here, which is quite
impressive.

 

"I want to use this opportunity to call on end-users, both government and
private sector, to patronise our locally fabricated tower products."

 

He added, "This plant currently employs over 350 Nigerians and will also
serve our foreign exchange in the country.

 

"Galvanised iron and steel process, which entails application of protective
zinc coating on different iron and steel products, is designed to prevent
rust and improve durability in its usage in a wide variety of applications.

 

"Its corrosive resistance makes it ideal for plumbing materials, outdoor
structures, and parts exposed to moisture in areas with harsh environmental
conditions."

 

He stated that galvanised steel products remained an essential element in
building infrastructure facilities, such as telecommunications towers,
electricity towers, street light towers, and so on.

 

Audu stated, "Galvanised steel product is a critical component in many
construction projects, particularly for bridges and beams, and form the bulk
of imported products consuming our scarce foreign exchange.

 

"It is important to stress that this project will play a critical role in
driving President Bola Tinubu's administration's desire for local content
policies."

 

Director Corporate Affairs, Mr. Taiwo Okewo, said the growth trajectory of
the group was a testimony to the potential of Nigeria and also the dividends
that came with a democracy.

 

Okewo stated, "We remain committed to continue contributing to this
government's regime of building the nation's future by building factories.
As of today, we have grown into a conglomerate with 11 business verticals,
with active manufacturing of 35 units, with a total investment exceeding
$2.1 billion and employing more than 10,000 people directly.

 

"This type of expansion and growth comes only with the favourable policies
of the government regimes."

 

Read the original article on This Day.

 

 

 

Ethiopia's Access to the Sea, Owning Ports Is No More a Taboo but an
International Agenda

For more than three decades, Ethiopia remained blocked, caged and landlocked
due to a protracted conspiracy from within and without and remained totally
cut off from the Red Sea which was only 60 km from the border. Although
Ethiopia had a legally recognized access to the high seas according to
international law, there was a lot of dust blown internally and overseas
when the issue of port and access to the sea was raised by Prime Minister
Abiy Ahmed on his briefing to the HPR a year ago.

 

It is regrettable why the leaders of the county did not raise the issue of
ports 30 years ago, land locking the country in the context of the
conspiracy of containment and denying the country from access to the Red
Sea. For several decades the issue of access to seas and ports was
considered as something unthinkable and was even considered as a taboo.

 

Prime Minister Abiy recently mentioned that the issue of access to ports and
seas is no more a taboo but is a legitimate topic that has gained currency
among the international community of nations.

 

Ethiopia had her own ports for over 3000 years during the Axumite
civilization but lost all 30 years back. Ethiopia used to enjoy a naval
glory for centuries.

 

Aksum was the name of a city and a kingdom which is essentially modern-day
northern Ethiopia (Tigray Region). Research shows that Aksum was a major
naval and trading power from the 1st to the 7th centuries A.D. As a
civilization it had a profound impact upon the people of Egypt, southern
Arabia, Europe, and Asia, all of whom were visitors to its shores, and in
some cases were residents.

 

 

According to some historical researches, Aksum developed a civilization and
empire whose influence, at its height in the 4th and 5th centuries A.D.,
extended throughout the regions lying south of the Roman Empire, from the
fringes of the Sahara in the west, across the Red Sea to the inner Arabian
desert in the east. The Aksumites developed Africa's only indigenous written
script, Ge'ez. They traded with Egypt, the eastern Mediterranean, and
Arabia.

 

A Persian writer described Axum as one of the four greatest powers in the
world at the time. Axum was a counterpoint both to the Greek and Roman
civilizations.

 

Aksum provides a counterpoint to the Greek and Roman worlds, and is an
interesting example of a sub-Saharan civilization flourishing towards the
end of the period of the great Mediterranean empires. It provides a link
between the trading systems of the Mediterranean and the Asiatic world, and
shows the extent of international commerce at that time. It holds the
fascination of being a "lost" civilization, yet one that was African,
Christian, with its own script, coinage, and international reputation. It
was arguably as advanced as the Western European societies of the time

 

Adulis was the main port of Axum during the period up to the early fifth
century, to have been the Aksumite port whence Roman traders and others
could trans-ship to vessels going to the south of India.

 

Glimpse into international law will help the reader to realize the
legitimate cause for Ethiopia to have access to ports and outlet to the Red
Sea

 

International law on ports and access to the high seas mainly comes from
several key legal frameworks, especially the United Nations Convention on
the Law of the Sea (UNCLOS). The major rights included in this law the right
of access to sea for landlocked states.

 

According to UNCLOS (Part X), landlocked countries like Ethiopia have the
right to access the sea for trade. Coastal countries must allow landlocked
countries freedom of transit through their territory, meaning goods can pass
through without discrimination.

 

Ports are under the sovereignty of the coastal states. However,
international custom and treaties encourage open access for ships engaged in
peaceful trade (this is called the principle of non-discrimination). Ports
can impose reasonable regulations for safety, customs, environmental
protection, etc.

 

The high seas are open to all states (both coastal and landlocked) and no
state can claim sovereignty over any part of it. Freedoms on the high seas
include freedom of navigation, fishing, laying submarine cables, and
scientific research.

 

Landlocked countries and coastal states often make special agreements
(bilateral or regional) to manage transit rights practically. Countries must
cooperate to protect the marine environment, ensure safe maritime transport,
and resolve disputes peacefully.

 

Under international law, particularly the United Nations Convention on the
Law of the Sea (UNCLOS, 1982), landlocked countries like Ethiopia have the
right to access the sea for trade and communication without discrimination.
They can negotiate agreements with neighboring coastal states to use ports
and transit corridors.

 

Ethiopia has the right to move goods and people through neighboring
countries to reach a seaport. Article 125 of UNCLOS states that landlocked
states shall enjoy freedom of transit through the territory of transit
states by all means of transport.

 

Ethiopia must rely on agreements (like with Djibouti, Somaliland, Kenya,
etc.) to secure reliable access to ports. These agreements are guided by
international law principles ensuring fair treatment and cooperation.
Ethiopia can negotiate rights to develop, lease, or manage parts of a port
in neighboring countries, ensuring efficient and cost-effective trade.

 

International law requires that Ethiopia should not face discrimination at
foreign ports. Port fees, customs duties, and services must be fair and
equal. Reliable access to ports under international law strengthens
Ethiopia's sovereignty, boosts economic growth, supports exports (like
coffee and manufactured goods), and promotes regional integration.

 

Ethiopia's strategy for access to ports focuses on securing reliable,
diversified, and affordable port services to support its trade and economic
development. Since Ethiopia is landlocked, having lost direct access to the
sea after Eritrea's independence in 1993, the country has developed a
multi-pronged approach:

 

The nation has invested in upgrading port facilities in Djibouti and has
discussed stakes in Berbera Port to secure better terms for access. Ethiopia
has established dry ports like Modjo, Semera, and Kombolcha to facilitate
quicker movement of goods from coastal ports into inland areas.

 

By opening up multiple access points to the sea, Ethiopia aims to reduce
over-dependence on a single port and minimize risks related to price
changes, political tensions, or logistical bottlenecks.

 

The general economic significance of access to ports and high seas for
Ethiopia involves lower trade costs: Better port access reduces the cost of
imports and exports. It facilitates Ethiopia's manufacturing, agricultural,
and export-led growth plans. It also enhances trade links with East African
countries. Ports attract better investment, local employment and efficient
transportation.

 

In addition, ports are vital nodes in transportation networks, connecting
maritime routes with inland transportation systems. Efficient transportation
connectivity allows for the seamless movement of goods between ships,
trucks, trains, and other modes of transport.

 

Moreover, ports contribute to the efficiency of supply chains by serving as
critical links in the transportation and logistics networks. A
well-functioning port can reduce transit times, lower transportation costs,
and improve overall supply chain reliability which is very important for the
economic development of Ethiopia and Somaliland.

 

Furthermore, ports generate employment opportunities directly and
indirectly. From dockworkers and port personnel to jobs in related
industries such as logistics, transportation, and warehousing, the presence
of a port stimulates economic activity and job creation.

 

Ports often foster the development of industrial clusters and economic zones
in their vicinity that is between Ethiopia and Somaliland. Companies may
establish operations near ports to take advantage of convenient access to
imported raw materials and efficient export routes.

 

Ports can attract foreign direct investment to Ethiopia by offering
strategic locations for businesses that rely on international trade. The
availability of efficient port facilities enhances the attractiveness of a
region for investors.

 

It must be noted that Ports contribute significantly to national and
regional revenue through duties, taxes, and fees levied on imported and
exported goods. This revenue can be reinvested in infrastructure development
and other public services.

 

Apart from the above mentioned economic advantages that they can bring to
the development of the national economy of a country, ports contribute to
economic diversification by facilitating the exchange of a variety of goods.
Diversification of exports and imports is of vital importance for Ethiopia
to reduce dependence on specific industries or trading partners. Accession
to ports will therefore help Ethiopia to diversify her exports instead of
depending upon agricultural commodities like coffee, oilseeds and
horticulture products.

 

Access to well-functioning ports enhances Ethiopia's competitiveness in the
global market. Ports that offer efficient services and modern infrastructure
contribute to the overall competitiveness of the nation's economy. This will
have direct and indirect bearing on the improvement of the livelihood of the
people of Ethiopia.

 

Moreover Ports are essential for regional economic integration, allowing
neighboring countries to connect and engage in cross-border trade. Shared
port facilities and collaborative infrastructure projects can promote
economic cooperation among neighboring nations. Ethiopia is already
pioneering on regional integration by providing aviation services and
hydropower supply which is the back bone for the economic development of
African countries. Economic integration is a viable pathway for Africa's and
Ethiopia's sustainable economic development

 

The development of ports often goes hand in hand with broader infrastructure
projects, including road and rail networks. This infrastructure development
contributes to the overall connectivity and economic development.

 

Ethiopia's access to ports will certainly be a major game changer not only
on the economy of the country but also on the economies of countries of East
Africa. Ethiopia develops and utilizes port facilities based on the
well-known principles of respect for the sovereignty of countries, peaceful
cooperation for mutual benefits.

 

Besides promoting the development of Ethiopia's national economy, access to
ports is instrumental in exchange of maritime scientific knowledge and
cooperation between Ethiopia and nearby countries in the areas of higher
education, cross cultural exchange and to advance people to people
relations.

 

Editor's Note: The views entertained in this article do not necessarily
reflect the stance of The Ethiopian Herald

 

BY SOLOMON DIBABA

 

THE ETHIOPIAN HERALD THURSDAY 24 APRIL 2025

 

Read the original article on Ethiopian Herald.

 

 

 

 

Nigeria: Govt Set to Inaugurate Ports, Customs Efficiency Committee

Determined to sustainably improve efficiencies in port operations and
service delivery, the Federal Government (FG) through the Presidential
Enabling Business Environment Council (PEBEC) is set to inaugurate the Ports
and Customs Efficiency Committee (PCEC).

 

The inauguration which is scheduled to take place at the Nigerian Ports
Authority (NPA) headquarters in Lagos is to be chaired by the Vice-President
of the Federal Republic of Nigeria, Senator Ibrahim Kashim Shettima, and
comprises of over 50 heads of Government agencies and private sector
captains of industries cutting across the entire gamut of value chains that
contribute significantly to Nigeria's economic growth.

 

 

The PCEC is a multi-stakeholder (public/private sector) initiative aimed at
infusing greater efficiency and improved service delivery within Nigeria's
ports and customs sector. Its overarching objective is to identify gaps and
implement solutions to enhance the ease of doing business by reducing
inefficiencies that impede trade facilitation and slow the pace of national
economic prosperity.

 

The quick wins expected from the PCEC include improved efficiency and
reduced cargo dwell time, enhanced transparency and accountability in port
operations, better coordination among stakeholders and improved
customer-centric focus.

 

Speaking on the readiness to host the meeting, the Managing Director,
Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho said .

 

"We are greatly delighted to host this all-important collaborative
process-improvement meeting, as it is very much in tandem with our efforts
at eliminating bottlenecks and bursting red tapes on the path of trade
facilitation".

 

Read the original article on Vanguard.

 

 

 

South Africa: Proposed VAT Increase to Be Reversed

National Treasury's proposed 0.5% Value-Added Tax (VAT) increase is expected
to be withdrawn when Finance Minister Enoch Godongwana introduces the Rates
and Monetary Amounts and the Amendment of Revenue Laws Bill (Rates Bill) to
Parliament.

 

The VAT increase was to be implemented from 1 May 2025 as announced in the
Budget speech in March.

 

READ | Government proposes VAT increase over two years

 

According to Treasury, the decision to withdraw the increase follows
"extensive consultations with political parties and careful consideration of
the recommendations of the parliamentary committees".

 

Treasury noted that the withdrawal is expected to create an estimated
revenue shortfall of some R75 billion over the medium term.

 

"As a result, the Minister of Finance has written to the Speaker of the
National Assembly to indicate that he is withdrawing the Appropriation Bill
and the Division of Revenue Bill, in order to propose expenditure
adjustments to cover this shortfall in revenue.

 

 

"Parliament will be requested to adjust expenditure in a manner that ensures
that the loss of revenue does not harm South Africa's fiscal
sustainability."

 

"The decision not to increase VAT means that the measures to cushion lower
income households against the potential negative impact of the rate increase
now need to be withdrawn and other expenditure decisions revisited. To
offset the unavoidable expenditure adjustments, any additional revenue
collected by SARS [South African Revenue Service] may be considered for this
purpose going forward," the Ministry of Finance said on Thursday.

 

Godongwana is expected to introduce a revised Appropriation Bill and
Division of Revenue Bill in the coming weeks.

 

"The initial proposal for an increase to the VAT rate was motivated by the
urgent need to restore and replenish the funding of critical frontline
services that had suffered reductions necessitated by the country's
constrained fiscal position.

 

"There are many suggestions, however some of them would create greater
negative consequences for growth and employment and some of them, while
worthwhile, would not provide an immediate avenue for further revenue in the
short term to replace a VAT increase.

 

"The National Treasury will, however, consider these and other proposals as
potential amendments in upcoming budgets as mechanisms to increase the
resources available," said the Ministry.

 

Read the original article on SAnews.gov.za.

 

 

 

 

 

Kenya: Ruto Welcomed to China With 21-Gun Salute Ahead of Talks With XI

Beijing, China — President William Ruto was officially welcomed to the
People's Republic of China by his host, President Xi Jinping, with a 21-gun
salute at the Great Hall of the People in Beijing.

 

He is expected to hold bilateral talks with President Xi as part of his
four-day State Visit.

 

In a keynote address at Peking University on Wednesday, Ruto warned that
ongoing trade tariff wars between the United States and other nations risk
dismantling the post-World War II global order.

 

"The post-war multilateral system is broken, dysfunctional, and no longer
fit for purpose. The escalating trade tariff war may be its final death
blow," he said.

 

 

Ruto was referencing former U.S. President Donald Trump's decision to impose
high tariffs on several global trading partners, citing unfair trade
practices. The move triggered retaliatory measures from other major
economies, including China, with economists cautioning the standoff could
trigger a global recession.

 

Accompanied by Prime Cabinet Secretary and Foreign Affairs CS Musalia
Mudavadi, Ruto used his address to also question the legitimacy of the
United Nations Security Council.

 

"The Security Council, once a beacon for peace and diplomacy, now has one
permanent member invading another country, while another member sides
against its own resolutions," he noted.

 

He called for urgent reforms to expand the Council's permanent membership
from five to twelve to ensure fair representation across Africa/Middle East,
Europe, Asia-Pacific, and the Americas.

 

 

"We must imagine a new peace and security architecture--rooted in democracy,
equity, transparency, and equal regional representation," he added.

 

Ruto reaffirmed Kenya's non-aligned foreign policy and support for key
global positions, including the One-China policy, a two-state solution to
the Israel-Palestine conflict, and diplomatic resolution of the
Russia-Ukraine war.

 

Highlighting Africa's demographic edge, he said the continent is well
positioned to drive global growth.

 

"If the first half of this century belongs to China, the second half
definitely belongs to Africa," he said.

 

Ruto made history as the first African Head of State to deliver a public
lecture at Peking University--joining an elite list that includes Russian
President Vladimir Putin, former U.S. President Bill Clinton, ex-German
Chancellor Gerhard Schroeder, and philanthropist Bill Gates.

 

Earlier, the President chaired the Kenya-China Investor Roundtable and
witnessed the signing of seven agreements between Chinese firms and Kenyan
entities. The projects span transport, agriculture, manufacturing, and
hospitality, and involve companies such as China Wu Yi, Rongtai Steel,
Zonken Group, and Chongqing Shancheng Apparel Group.

 

In an interview with China's CCTV and CGTN, Ruto lauded Beijing as a
reliable partner in Kenya's development journey.

 

He also laid a wreath at the Monument to the People's Heroes in Tiananmen
Square and held talks with Chinese Premier Li Qiang and National People's
Congress Chairman Zhao Leji, who reaffirmed China's commitment to deepening
trade ties and South-South cooperation.

 

During a meeting with Kenyans living in China, Ruto urged the diaspora to
support ongoing reforms in Kenya's health, education, and agriculture
sectors.

 

"It won't be easy, and it won't happen overnight--but it will be worth every
effort," he said.

 

The President is accompanied by Cabinet Secretaries William Kabogo (ICT),
Lee Kinyanjui (Trade), Davis Chirchir (Energy), Members of Parliament, and
senior government officials.

 

Read the original article on Capital FM.

 

 

 

 

 

Africa: Senegal Will Be Sub-Saharan Africa's Fastest-Growing Economy in 2025

Senegal is projected to lead economic growth in sub-Saharan Africa in 2025,
with GDP expected to expand by 8.4%, according to the latest IMF data

The West African country is ahead of Rwanda (7.1%), Guinea (7.1%), and
Ethiopia (6.6%) on the continent's top-performers list

While sub-Saharan Africa is projected to grow at 3.8% in 2025, growth
remains uneven, with commodity-exporting economies lagging

Senegal is projected to lead economic growth in sub-Saharan Africa in 2025,
with GDP expected to expand by 8.4%, according to the latest IMF data. The
West African country is ahead of Rwanda (7.1%), Guinea (7.1%), and Ethiopia
(6.6%) on the continent's top-performers list.

 

 

The surge is driven by energy and infrastructure investments, particularly
the launch of oil and gas production from the Greater Tortue Ahmeyim (GTA)
and Sangomar fields. These developments are expected to significantly
improve export revenues and reduce the country's reliance on imports.

 

Senegal's continued commitment to economic diversification and public
infrastructure has also attracted investor confidence. Its performance
contrasts with the broader regional trend. While sub-Saharan Africa is
projected to grow at 3.8% in 2025, growth remains uneven, with
commodity-exporting economies lagging due to external shocks and structural
weaknesses.

 

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

 

Key Takeaways

 

Senegal's economic outlook underscores a growing divergence between
resource-intensive economies (RICs) and reform-driven countries. While oil
exporters like Nigeria and Angola struggle with stagnant incomes and fiscal
imbalances, Senegal's focus on diversification and structural reform is
yielding results. The IMF attributes weak performance in RICs to poor
governance, pro-cyclical fiscal policies, and underinvestment in
productivity-enhancing sectors. In contrast, countries like Senegal have
maintained more stable macroeconomic environments and invested in long-term
drivers of growth, such as infrastructure and human capital.

 

Read the original article on Daba Finance.

 

 

 

 

Kenya: Poor Internet, One of the Hindrances to SHA Registration in Baringo

Nakuru — Poor internet connectivity has been singled out as one of the main
hindrances to Social Health Authority (SHA) registration in the vast Baringo
County.

 

Other draw backs were identified as the rough terrain, poor infrastructure,
insecurity due to cattle rustling, and natural calamities such as the
constant drought and floods.

 

Dandelion Africa Executive Director, Wendo Sahar said Electronic
Communication Health Information System was a noble idea in terms of
registering people to SHA but internet network coverage was a major
impediment in far flung counties.

 

She said the gap was where the system connects to the government health
facility because they may not be in a position or ready to offer services to
the people.

 

"The health Information system is great in terms of risks cause assessment
by Community Health Promoters (CHPs) and referring clients to health
facilities but the health facilities may not be ready for the support or to
give communities the support that they need," she said.

 

Speaking at Dandelion Health Centre during a SHA awareness training for CHPs
and health workers from Baringo County who included County Executive
Committee Member for Health and his Chief Officer, Sahar said urged
telecommunication providers to enhance connectivity in the area.

 

"Connectivity should not be a reserve for the rich, it should be provided to
the needy community in the remote areas who need it most," she said.

 

On insecurity, Shahar said CHPs may not traverse different sub-counties of
Baringo due to cattle rustling and ethnic clashes that have affected the
region over decades.

 

 

"The overall SHA registration in the county is at 27 per cent which can be
attributed to all these factors," she said during the workshop where CHPs
were taught about electronic community health information system.

 

Sahar said Dandelion Africa hoste the County Government of Baringo
Department of Health and other stakeholders to create awareness about SHA
Community Health Strategy Maternal Health and ways to improve health
outcomes in the region.

 

"SHA has been a very contentious issue across the country and while the
government is doing its best to ensure that people get the support that they
require in every facility there is also a lot of gaps when it comes to
training CHPs," she said.

 

She observed that registration was slow because of the mistrust that
communities have due to lack of awareness of how they can benefit from the
SHA.

 

 

She called on stakeholders from across Baringo County from CEC to directors,
people in charge of community health strategy to discuss how best they could
have 100 per cent SHA registration.

 

"The is find out how best can we ensure that CHPs are better equipped to
register households and how to involve other stakeholders including county
commissioners in ensuring that every household know the benefits of SHA.

 

She said Dandelion Africa's work an a non-profit organisation was to
complement the government's work and ensure that communities got the right
and timely information.

 

"We are segmenting all the information, bringing on all the stakeholders
with the right information to that the community gets the rights and timely
information," she added.

 

SHA Rift Valley Regional Manager, Shalom Kiptum echoed Sahar's sentiments
saying that the mantra of Universal Health Coverage (UHC) which is captured
in SHA was to ensure that nobody was left behind.

 

She promised that SHA shall ensure that registration is done smoothly to
cover all regions regardless of network or infrastructural challenges.

 

On issues of poor net work, Kiptum said SHA may have to reach out to
partners such as safaricom to ensure that connectivity gets to the furthest
terrain

 

"Baringo County is vast and without network, we may not register some of the
community members because SHA is highly digitised," she said

 

She emphasized the need to use the CHPs because they were at the grassroots
and could go door to door to ensure that everyone was brought on board.

 

She urged the CHPs to use schools during opening and closing days to
register the children and capture the parents in the process

 

Read the original article on Capital FM.

 

 

 

 

Namibia: Busch Backs Budget

Member of Parliament and former executive chairperson of the National Youth
Council (NYC) Sharonice Busch, has thrown her full support behind the
2025/26 national budget, describing it as a "manifesto of progress".

 

She said the budget has the potential to radically transform the lives of
ordinary Namibians -- if stewarded with vision and courage.

 

Delivering her maiden speech in the National Assembly this week, Busch
lauded minister of Finance Ericah Shafudah and her team for crafting a
budget that addresses critical sectors such as youth development,
agriculture, healthcare and sports.

 

 

"This Appropriation Bill is not just numbers on a page - it is a pledge to
the people. It lays the tracks for infrastructure, cultural revitalisation,
entrepreneurship and economic justice," Busch said.

 

She welcomed key interventions outlined in the Bill, including the support
for livestock farmers through the Equalisation Fund, the revitalisation of
the Affirmative Action Loan Scheme, and the doubling of youth sector
allocations through institutions like the National Youth Council and the
National Youth Service.

 

"Food security is sovereignty," she said, stressing the need for Namibia to
grow what it eats while supporting local producers. "Doubling youth-related
funding is not a favour - it is a long-overdue commitment."

 

The parliamentarian also praised the allocation of N$450 million to the
sport sector, noting that sport must be recognised "not only as play, but as
profession, platform and pride."

 

The young Swapo politician also welcomed the N$780 million investment
earmarked for healthcare infrastructure, calling for the urgent clearance of
bureaucratic hurdles that delay service delivery.

 

"Our people deserve hospitals that heal, not halls that crowd," Busch said,
drawing applause from across the House.

 

While firmly supporting the Appropriation Bill, she cautioned that its true
impact would depend on how efficiently and empathetically it is implemented.

 

"This Bill has the potential to transform lives - if we dare to steward it
well," she said.

 

Beyond the fiscal matters, Busch used her maiden speech to reflect on her
personal journey -- from a child Speaker in the Children's Parliament to a
full-fledged MP -- and to honour the giants who shaped her path, including
the late Dr Theo-Ben Gurirab, Dr Hage Geingob, and Mandela Kapere.

 

Quoting George Bernard Shaw, she reminded her fellow lawmakers: "Don't just
look at the world and ask why - dare to imagine the unseen and ask, why
not?"

 

She then urged the House to embrace their sacred duty with empathy, courage
and people-centred leadership.

 

"The crossroads is here. The choice is ours:

 

Will we shape a Namibia that is inclusive, equitable and united in its
prosperity? Or will we allow history to choose for us?"

 

Read the original article on New Era.

 

 

 

 

 

 

 

 

 

 

 

 

 


 


 


 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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