Major International Business Headlines Brief ::: 25 April 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  25 April 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  South Africa and Ukraine Solidify Biliteral Relations

ü  South Africa: Finance Minister Suspends VAT Hike

ü  South Africa: Power Utility Eskom Suspends Power Cuts

ü  Namibia: N$1b Transnamib Locomotive Tender Blocked

ü  African Countries Still Underfunding Health By As Much As 50%

ü  Nigeria: Air Peace Suspends Flight Operations, Gives Reason

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

ü  South Africa: Sassa's New Biometric Tests

ü  South Africa: Gold Card Deadline Cancelled

ü  Nigeria: Airlines Continue Flight Operations Despite Strike By NiMet

ü  Malawi Govt Hits Additional $30mn Jackpot Towards Mangochi-Makanjira Road
Project

ü  Company bosses warn over tariffs impact

ü  Who will win the race to develop a humanoid robot?

 


 <mailto:info at bulls.co.zw> 

 


 

South Africa and Ukraine Solidify Biliteral Relations

President Cyril Ramaphosa and his Ukrainian counterpart, President Volodymyr
Zelenskyy, have used the official visit to deepen bilateral relations for
the mutual benefit of the two countries.

 

President Ramaphosa hosted President Zelenskyy at the Union Buildings in
Pretoria on Thursday, marking the first official visit by a Ukrainian Head
of State to South Africa.

 

He expressed that it was his distinct honour to receive President Zelenskyy
and his delegation at the Union Buildings.

 

"This is a historic visit. This is the first time the Head of State of
Ukraine is visiting South Africa in the 33 years since we established formal
diplomatic relations.

 

 

"We acknowledge with great appreciation the support we received from Ukraine
during our liberation struggle. We recall that a number of exiled South
Africans received training and education in Ukraine," the President said.

 

In June 2023, President Ramaphosa had the honour of visiting President
Zelenskyy in Kyiv as part of the African Peace Initiative.

 

Since then, he said they have maintained ongoing dialogue between the two
countries and its diplomats.

 

"We have just concluded successful talks during which we exchanged views on
how to consolidate and deepen the bilateral relations between our two
countries. We noted a growing interest in expanding relations in peace
diplomacy, post-conflict reconstruction and development, and the empowerment
of women.

 

"We also discussed opportunities for cooperation in areas such as
agriculture, trade, education, infrastructure and social exchanges,"
President Ramaphosa said.

 

 

He expressed satisfaction that Ministers from both countries have held
discussions on strengthening trade and investment opportunities, including
opportunities in agriculture and agribusiness.

 

"We acknowledge the significant strides that Ukraine has taken and in
particular, the efforts of President Zelenskyy to expand relations with the
African continent.

 

"We note the provision of grain in areas of food stress in West and East
Africa, the expansion of agricultural cooperation, and the opening of a
grain hub at the Port of Mombasa in Kenya," he said.

 

President Ramaphosa said these are the direct outcomes of the discussions
that were held when he and other African Heads of State visited Kyiv in June
2023 as part of the African Peace Initiative.

 

"Our engagement today was an opportunity to discuss our shared interest in
advancing peace, security, stability and sustainable development on the
continent, in Ukraine and across the world.

 

"We have reinforced our common commitment to respect the rule of law in
international relations, multilateralism, the central role of the United
Nations in global governance, and the maintenance of global peace and
security," he said.

 

Delivering his remarks, President Zelenskyy noted that South Africa is
currently presiding over the Group of 20 (G20) and emphasised that the G20's
role in defending peace could be far more significant, a role he strongly
counts on.

 

He proposed the creation of a joint mineral hub between Ukraine and South
Africa to facilitate the production and transport of fertilisers, supporting
the broader Southern African region.

 

"Our bilateral agenda is also very important. Ukraine is keenly interested
in energy security matters and fertiliser production... We are ready to work
with the South Africans to build more modern production facilities in your
country for better resilient power sector," he said.

 

President Zelenskyy also highlighted opportunities for cooperation in the
agricultural sector, which could significantly enhance bilateral trade
between the two countries.

 

"Ukraine offers South Africa to have a joint mineral hub to produce and
transport fertilisers to support the whole of your region. There are
potential projects in the agricultural sector. This can lead to better
bilateral trade results between Ukraine and South Africa," he said.

 

He added that Ukraine is also ready to work together to develop modern
security systems for national parks, urban environments, and other areas
requiring advanced technological solutions.

 

President Zelenskyy expressed Ukraine's willingness to partner with South
Africa to boost power generation, ranging from atomic energy to affordable
renewables.

 

"We are also ready to work together to drastically increase power generation
in your country, from atomic energy to renewable. Affordable energy has
always contributed to economic growth, and I've already tasked my
professional team to look into a joint project between our countries," he
said.

 

He also presented President Ramaphosa with a list of 400 Ukrainian children
reportedly being held against their will in Russia.

 

President Zelenskyy acknowledged South Africa's role as co-leader of the
global coalition to bring Ukrainian children home and expressed hope that
President Ramaphosa would assist in securing their return.

 

"I presented President Ramaphosa with a list of 400 Ukrainian children. It's
very important for us to look after them... We need to get them back. I
truly hope that President Ramaphosa will help us to bring them home indeed.

 

"I'd like to thank you for this visit, for the opportunity to meet you. We
strongly believe that the President, South Africa, all other partners in
Africa will help us to... to [get Russia] to engage in the full-scale
ceasefire," Zelenskyy said. - SAnews.gov.za

 

Read the original article on SAnews.gov.za.

 

 

 

 

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.

 

 

 

 

South Africa: Power Utility Eskom Suspends Power Cuts

Power utility Eskom has suspended load shedding following the recovery of
approximately 2,015 megawatts of generation capacity, an anticipated drop in
electricity demand, and adequate emergency reserves, reports SABC News.
Eskom had announced the implementation of stage 2 load shedding from 4 PM to
5 AM on Friday due to higher-than-expected demand, the loss of generation
units, and extensive planned maintenance. Eskom spokesperson Daphne Mokwena
said that planned maintenance was ongoing to prepare the system for
increased winter demand, meet regulatory requirements, and ensure
environmental compliance.

 

Gauteng and KwaZulu-Natal on Alert for Severe Thunderstorms and Flooding

 

Residents of Gauteng and KwaZulu-Natal (KZN) were warned to prepare for
continued rainy weather, with the South African Weather Service (SAWS)
issuing a level 4 warning for severe thunderstorms, reports SABC News. Both
provinces had experienced harsh weather recently, and the  SAWS indicated
that wet conditions were expected to persist throughout the week. Residents
in low-lying areas, informal settlements, and near rivers were urged to
avoid crossing water bodies during heavy rain. The yellow level 4 warning in
most parts of Gauteng signaled a drop in temperatures along with scattered
showers and severe thunderstorms, while an orange level 5 warning was issued
for the southern parts of the province. Forecaster Lehlohonolo Thobela said
that the risk of localised flooding, damaging winds, hail, and excessive
lightning exists. KZN residents were urged to exercise caution as extreme
weather conditions that could lead to flooding and further damage to
infrastructure are forecast for the province.

 

 

MK Party Demands Godongwana's Resignation Over Reversed VAT Decision

 

The uMkhonto weSizwe (MK) Party called for the resignation of Finance
Minister Enoch Godongwana after he reversed his decision to implement a
value-added tax (VAT) increase, reports SABC News. Godongwana announced that
the proposed hike would no longer be effected. MK Secretary General Floyd
Shivhambu, addressing supporters during Jacob Zuma's court case in
Pietermaritzburg, insisted that Godongwana should step down immediately.
However, the African National Congress (ANC) firmly backed the minister,
with Secretary General Fikile Mbalula declaring that Godongwana would remain
in his position, citing his consultations with political parties and
adherence to his duties.

 

More South African news

 

 

 

Namibia: N$1b Transnamib Locomotive Tender Blocked

Transport minister Veikko Nekundi has halted the procurement of 30
locomotives from a company in the United States by TransNamib.

 

He confirmed that TransNamib had initially planned to procure the
locomotives.

 

However, there were concerns about the risks associated with single-source
manufacturers. This decision follows a question raised by Job Amupanda, the
leader of Affirmative Repositioning, regarding whether approval was granted
to TransNamib for the direct procurement of 30 locomotives from an American
company.

 

"I am aware of the issue, and I have contacted the institution to cancel the
procurement of locomotives from America. I conducted research on how our
neighbouring countries, such as Zambia, Botswana and even South Africa,
source locomotives, and none of them do it in that manner," the minister
said in Parliament yesterday.

 

He further revealed that a meeting is scheduled for this Friday to resolve
the matter and chart a way forward.

 

Reacting to the news, Amupanda felt vindicated.

 

"You are hereby informed that the TransNamib corrupt N$1 billion deal for 23
locomotives is now on hold. Remember that this [Desmond van Jaarsveld]
released a statement telling the public that I am lying? It is a statement
he will swallow together with his corrupt cabal," Amupanda said.

 

Read the original article on New Era.

 

 

 

 

African Countries Still Underfunding Health By As Much As 50%

Nairobi — The majority of African countries are yet to commit 15 percent of
their GDP to funding the health sector, despite the growing disease burden
weighing down the continent and two decades after the coming into force of
the Abuja declaration on health sector funding.

 

Only a few countries, including Rwanda, Botswana, and Cabo Verde, have
consistently met the 15 percent target, with some countries allocating less
than 10 percent of their budget to the crucial sector.

 

Under the Abuja Declaration of 2001, African Union (AU) member states made a
commitment to end the continent's health financing crisis, pledging to
allocate at least 15 percent of national budgets to the sector. However,
more than two decades later, only three countries--Rwanda, Botswana, and
Cabo Verde--have consistently met or exceeded this target (WHO, 2023). In
contrast, over 30 AU member states remain well below the 10 percent
benchmark, with some allocating as little as 5-7 percent of their national
budgets to health.

 

 

Countries including Nigeria, Chad, and the Central African Republic are
allocating as little as 5-7 percent to the sector, thanks to a myriad of
political and economic challenges, including a high debt burden and narrow
tax base, according to Director General of Africa Centres for Disease
Control (Africa CDC), Dr. Jean Kaseya.

 

Competing demands for security and infrastructure financing and limited
coordination between ministries of health and finance, plus the fact that
the COVID-19 pandemic "hit national budgets hard," worsened by global
economic instability, haven't helped matters, he said, while commenting on
the latest annual report of the continental health body and the 2025 concept
paper on Africa's Health Financing in a New Era, both released in April.

 

 

Wivine M'puranyi, a 30-year-old mother of six from the village of Karanda in
the Democratic Republic of Congo's South Kivu, reflects on the distressing
days when her two daughters were diagnosed with mpox, one of the pandemics
that hit Africa in 2024. Credit: WHO

 

"It also exposes just how costly underinvesting in health can be. The real
story here is political will, where leaders prioritize health, and budgets
follow," he noted.

 

The report finds that only 16-29 percent of African countries currently have
updated versions of the National Health Development Plan (NHDP) supported by
a National Health Financing Plan (NHFP), the two documents being critical in
driving internal resource mobilization.

 

"Updating National Health Development Plans (NHDPs) and National Health
Financing Plans (NHFPs) is not just a matter of paperwork--it's a heavy
lift. Countries need robust data, skilled teams, funding, and strong
inter-ministerial coordination," he said.

 

Low funding has a consequence: it has led to many health departments being
understaffed and overstretched, partly because some governments
'deprioritize' updating the two documents because they fear the plans won't
be implemented or be funded. "But without current, credible plans, it's
nearly impossible to make a case for more domestic or external investment.
These documents are not bureaucratic checkboxes--they're investment
blueprints," the DG told IPS.

 

He noted that countries that have updated and actively used their NHDPs and
NHFPs have seen tangible benefits, one such country being Burkina Faso,
where an updated NHFP had helped streamline funding and implementation for
free healthcare policy.

 

In Senegal, incorporating macroeconomic forecasting into the NHFP improved
budget predictability and donor alignment. "These tools are powerful when
they are costly, realistic, and regularly monitored. But let's be clear;
plans must be funded and used--not just filed away--to make a real
difference," Kaseya added.

 

According to the documents, Africa continues to carry a disproportionate
share of the global disease burden--25 percent--but with only 3 percent of
the global health workforce, resulting in a "dangerously overstretched
workforce," according to the documents. Should this shortage be prioritized
over all other health needs and deficiencies, or what should be addressed
first?

 

The shortage of health workers remains a fundamental challenge, with Africa
carrying 25 percent of the global disease burden but a disproportionate 3
percent of the global health workforce--a challenge that cannot be addressed
"in isolation."

 

Likobiso Posholi, 35, from Ha Sechele village in Mohale's Hoek in Lesotho,
recovering from a recent cesarean section. Many countries in Africa are yet
to commit 15 percent of the national budgets so that women like Posholi can
access affordable maternity services. Credit: WHO

 

However, recruiting en masse without sustainable financing or strategic
deployment can strain the system, and in some countries, trained
professionals remain unemployed due to fiscal constraints or wage bill
ceilings. "Kenya, for example, is piloting co-financing mechanisms between
national and local governments to overcome this. The key is to tackle
workforce gaps through integrated, context-specific reforms that link
financing, recruitment, and health system needs," Kaseya said.

 

The Africa CDC has drafted a three-pronged strategy and placed it at the
forefront of a health financing revolution that could potentially represent
a paradigm shift from dependency to self-determination. Some aspects of the
strategy can be implemented immediately without being subjected to a lot of
bureaucracy in view of the emergency brought about by cuts in Overseas
Development Assistance (ODA), he added.

 

Reductions in ODA went down by 70 percent between 2021 and 2025, exposing
health systems to deep-rooted structural vulnerabilities and placing immense
pressure on Africa's already fragile health systems, with overseas financing
being seen as the backbone of critical health programmes.

 

These include pandemic preparedness, maternal and child health services, and
disease control initiatives, all of which are at risk, threatening
Sustainable Development Goal 3 and Universal Health Coverage.

 

"Some components of our strategy can be rapidly deployed. Health taxes on
products like tobacco, sugar, and alcohol are politically sensitive but
technically straightforward and yield dual benefits, generating revenue and
promoting healthier populations. Strengthening health financing units within
ministries is a high-impact, low-cost intervention that can dramatically
improve budget execution and efficiency," Kaseya suggested.

 

Likewise, deploying digital tools--such as real-time dashboards to track
financing flows--can happen quickly and with limited bureaucracy. Countries
like Benin, South Africa, and Ethiopia are already implementing such reforms
with measurable progress.

 

He pitched that digitization of the health sector is no longer a luxury, as
it is foundational to the much-needed resilient, transparent, and efficient
health systems.

 

On the other hand, the platforms improve decision-making, enable better
resource tracking, and enhance service delivery. However, fragmentation of
digital solutions remains a challenge, with many platforms developed in
'silos,' often "donor-driven and poorly integrated," he commented.

 

He singled out Ghana, which offered a strong example of progress, having
developed a national platform that integrates health and financing data.
"The true value of digitization is realized when countries lead the process,
ensure interoperability, and embed digital solutions into broader system
reforms," Kaseya said.

 

On the positive side, CDC Africa for the first time led an emergency
response, putting in place a Joint Continental Incidence Management Support
Team (IMST) co-led with the World Health Organization and bringing together
over 28 partners to collaborate on the Mpox response. This work was done
under the "One team with a One unified plan, One budget, and One monitoring
framework."

 

"This is a historic first that marked a significant milestone in Africa's
leadership of public health emergencies of continental significance," the
report observed.

 

It further supported national responses to "multiple major public health
emergencies," including the mpox outbreak in 20 AU member states and the
Marburg virus disease outbreak in Rwanda. This was in declaring the former a
Public Health Emergency of Continental Security (PHECS) on August 13, 2024,
in consultation with the affected countries and relevant stakeholders.

 

Also on the positive side, the continental health body was advancing a
comprehensive three-pillar strategy centered on domestic resource
mobilization, innovative financing, and blended finance.

 

IPS UN Bureau Report

 

Follow @IPSNewsUNBureau

 

Read the original article on IPS.

 

 

 

 

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.

 

 

 

 

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.

 

 

 

 

South Africa: Sassa's New Biometric Tests

As of 5 May, all social grant beneficiaries using alternative forms of
identification other than the standard 13-digit South African ID number will
undergo compulsory biometric testing. This was announced by the South
African Social Security Agency (SASSA) on Thursday.

 

SASSA said this initiative aims to enhance the security and accuracy of
client identification, and to improve the integrity and efficiency of its
systems. The agency currently pays social grants to approximately 28-million
people each month.

 

Currently, people who don't have an identity number can still apply for a
social grant using a quad 7 number. This is a temporary reference number
issued by the Department of Home Affairs when an individual doesn't have a
valid ID or passport.

 

 

Last month, SASSA told Parliament that it had paid R140-million in social
grants to about 75,000 deceased beneficiaries. In February, SASSA also
presented findings of an investigation which found significant security
flaws, making its payment system vulnerable to fraud. This follows findings
by two Stellenbosch University students, who discovered vulnerabilities in
SASSA's payment system. They found that large numbers of fraudulent SRD
applications were being made using ID numbers of individuals who had
recently turned 18.

 

SASSA acting CEO Themba Matlou previously acknowledged the vulnerabilities
in the agency's system but said that steps were being taken to address them.
This, Matlou said, included risk mitigation processes and implementing
security updates.

 

In a statement on Thursday, SASSA said: "This initiative, which aligns with
Regulation 13(1) of the Social Assistance Act, is a proactive measure aimed
at enhancing security, improving the integrity of our systems, and
preventing potentially fraudulent activities related to identity
misrepresentation."

 

SASSA said its Information and Communication Technology (ICT) team has
collaborated with the State Information Technology Agency (SITA) to provide
training to identified "super-users". A super-user is someone within an
organisation who receives advanced training on a new computing system or
process.

 

"These super-users are now well-equipped to train regional staff on
biometric enrolment. This will ensure that every SASSA office will have
trained officials when the biometric enrolment process commences," SASSA
stated.

 

The agency says it is "pulling all the stops in tightening its systems and
measures" to safeguard social grants and ensure that "the right person is
paid at the right time and place".

 

Read the original article on GroundUp.

 

 

 

 

 

South Africa: Gold Card Deadline Cancelled

The card swap has been chaotic, causing panic and inconvenience for millions
of grant beneficiaries.

Postbank has temporarily stopped issuing the new Black Cards and says both
Black and Gold Cards will remain valid.

SASSA Gold Cards will keep working after 31 May, Postbank announced on
Thursday.

 

The Gold Card was initially set to expire on 28 February, but the deadline
was then changed to 20 March. Less than a month ago, Postbank again moved
the deadline to 31 May to allow more time to help beneficiaries switch to
the Black Cards.

 

 

This came shortly after the South African Reserve Bank said it would allow
the Gold Cards to keep working until all beneficiaries have swapped to the
Black Card.

 

The card swap has been marred by difficulties. Hundreds of thousands of
beneficiaries have had to travel long distances to reach a limited number of
service points, endure lengthy queues for hours, and deal with frequent
system failures.

 

Now Postbank, which has spent more than R200-million on the card swap, says
the Gold Cards can be used "until further notice". The cards will remain
fully operational across all existing payment platforms, including ATMs,
point-of-sale machines, and Postbank's partner retail outlets.

 

Thursday's announcement will come as a relief to grant recipients who have
not yet changed to the new cards.

 

Before the switch started at the end of last year, Postbank paid grants to
about 2.9-million beneficiaries every month. By April, Postbank spokesperson
Bongani Diako said only 1.4-million people had switched to the new card.
This means that more than a million people had not switched.

 

During the chaotic switch, the South African Social Security Agency (SASSA)
encouraged beneficiaries to swap to private banks if they can.

 

But Postbank on Thursday said "Social grant beneficiaries are strongly
advised to ignore any call that they must change banks, as this is
unnecessary."

 

Postbank has also temporarily stopped issuing new Black Cards at its sites.
"This, however, has no impact on anyone who currently has a Postbank Black
Card, as that card will continue to work as normal," Postbank said.

 

Postbank Black Card distribution sites will remain open to provide other
essential services. These include PIN resets, reissuing Black Cards in cases
of loss or theft, and registering beneficiaries for cardless payment
alternatives.

 

Black Sash spokesperson Oliver Meth welcomed the announcement but said
clarity was needed on why Black Cards are no longer being issued.

 

He added that recurring system outages and unauthorised deductions remain a
serious concern and urged both Postbank and SASSA to intensify their efforts
to resolve them.

 

Read the original article on GroundUp.

 

 

 

 

Nigeria: Airlines Continue Flight Operations Despite Strike By NiMet

Some domestic airlines have continued flight operations despite the strike
embarked by the workers of the Nigeria Meteorological Agency (NIMET), which
is the agency that provides weather reports to airlines.

 

Domestic airlines including Ibom Air, United Nigeria Airlines, Aero
Contractors, Arik Air have continued to operate but on Thursday, Air Peace
announced that it would suspend flight service due to the strike by NIMET.

 

However, THISDAY gathered that apart from domestic airlines, foreign
airlines are also operating into Nigeria, as indicated by flight radar,
which captures all aircraft operating in the airspace globally) on Thursday
morning.

 

 

Flight radar showed aircraft flying in Nigeria airspace, including flights
en-route Lagos, Kano and Port Harcourt, both domestic and aircraft operated
by international carriers.

 

United Nigeria Airlines on Wednesday announced that it was not shutting down
operations and expressed its unwavering commitment to "ensuring the safety,
comfort, and confidence of its passengers during this period of
uncertainty."

 

THISDAY spoke to an operator who is also a pilot and he said that weather
report from NIMET is advisory; that airlines have other sources of
information on weather conditions in the airspace, disclosing that he has
weather station, which provides him all the needed information. He said that
as a pilot, he refers to NIMET weather report for comparison.

 

He also noted that it was at the discretion of the pilot to decide whether
to fly or not to fly in reception of weather report because the size of the
aircraft, the ability of the aircraft determine whether a pilot should fly
in any weather condition.

 

"A pilot may decide to request for special VFR (Visual Flight Rule) if he
feels that he can fly despite inclement weather report. That is why the
weather report from NIMET is advisory," he said.

 

Speaking in the same vein, the Managing Director of Aero Contractors,
Captain Ado Sanusi, told THISDAY that the airline was operating, noting that
international airlines were also coming to Nigeria and landing, so also are
domestic airlines, adding that no pilot can take-off without getting the
basic information to ensure that there is no hazard in the fight.

 

"International airlines are coming and we are operating. We have en-route
radar and we know what the weather is en-route. Every pilot must have that.
So, what we need is destination weather but we can also get that from PIREP
(Pilot Report). Pilots are trained to read weather; to know wind direction
and speed and ground temperature. So, we are flying and international
airlines are also coming," he said.

 

Read the original article on This Day.

 

 

 

 

Malawi Govt Hits Additional $30mn Jackpot Towards Mangochi-Makanjira Road
Project

The Organization of Petroleum Exporting Countries (OPEC) Fund for
International Development has signed a $20 million loan agreement with
Malawi towards the Mangochi-Makanjira road project.

 

The OPEC Fund approved $20 million for this project on December 10, 2024,
focusing on transportation infrastructure.

 

This comes at a time when Malawi has already received $20 million loan from

 

the Abu Dhabi Fund for Development in the UAE providing the
Mangochi-Makanjira road project.

 

The Mangochi-Makanjira road project aims at improving infrastructure in the
region.

 

 

While on the same, Malawi Government has received $10million from the Kuwait
fund contribution for Mangochi Makanjira.

 

Speaking during the cerermony , Minister of Finance and Economic Affairs,
Simplex Chithyola Banda, who was flanked by Dr. Abdulhamid Alkhalifa,
President of the OPEC Fund for International Development and Dr. Betchani
Tchereni, Secretary to the Treasury said the signing of this agreement
represents a key milestone in as far as rehabilitation of the very strategic
Mangochi - Makanjira Road Project is concerned.

 

"As you are aware, Distinguished Guests, Ladies and Gentlemen, mobilization
of resources for the project started a while ago. So far, the Saudi Fund for
Development already committed USD20 million to the Project; the Kuwait Fund
for Arab Economic Development has committed USD9.6 million; and the
Government of Malawi is expected to contribute around USD28 million," he
said.

 

He said the main objective of the Project is to enhance trade, tourism, and
transportation by constructing and rehabilitating the Mangochi-Makanjira
(S129) road.

 

According to the Minister, the resources signed with the OPEC Fund will be
used to upgrade the existing section of the road from Mangochi to Mwanjati
(about thirty-six kilometres) from a single lane paved road to a full two
lane bitumen paved standard road.

 

"Currently, this is an earth road, which is continuously deteriorating due
to environmental factors and becomes very slippery in some sections during
the rainy season. Upgrading this road promises improved safety for road
users; transport efficiency; and reduced costs for both road users and the
overall economy," he said.

 

Chithyola said the Project is expected to bring several benefits to the
area, including enhanced access to social infrastructure such as schools,
and health centre

 

Read the original article on Nyasa Times.

 

 

 

Company bosses warn over tariffs impact

Several US companies have cut profit forecasts or withdrawn them citing
economic uncertainty

Top executives at well-known US firms are warning about the impact that
tariffs are having on their companies and the wider economy.

 

Technology giant Intel, footwear maker Skechers and consumer goods firm
Procter & Gamble, have either cut their profit forecasts or withdrawn them
citing economic uncertainty.

 

US President Donald Trump has been trying to rebalance relations with key
trading partners by using steep tariffs to bring them to the negotiating
table.

 

No new trade agreements between the US and other countries have been
announced yet but there have been signs of progress in talks with South
Korea.

 

 

"The very fluid trade policies in the US and beyond, as well as regulatory
risks, have increased the chance of an economic slowdown with the
probability of a recession growing," said Intel's chief financial officer,
David Zinsner, during a call with investors.

 

"We will certainly see costs increase," he added as the California-based
firm announced gloomy profit and revenue forecasts.

 

Intel's shares dropped by more than 5% in extended trading after those
remarks.

 

Beyond the technology industry, footwear maker Skechers also disappointed
investors. The firm saw its shares fall after it withdrew its annual results
forecast.

 

"The current environment is simply too dynamic from which to plan results
with a reasonable assurance of success," Skechers' chief operating officer,
David Weinberg, told investors in a post-earnings call.

 

Skechers - like rivals Nike, Adidas and Puma - uses factories in Asia,
particularly in China, to make its products.

 

Comments from Procter & Gamble (P&G) executives also hinted at how tariffs
could mean higher prices for its customers.

 

The maker of Ariel, Head & Shoulders and Gillette said it was considering
changes to its prices to make up for the extra cost of materials sourced
from China and other places. It also said it expected sales to grow this
year less than previously forecast.

 

"We'll be looking for every opportunity to mitigate the impact," said Andre
Schulten, P&G's financial chief, adding that there will be adjustments to
"some level of consumer pricing".

 

The Japanese owner of the 7-Eleven convenience stores, Seven & I, said it is
also feeling the impact of the trade tensions.

 

North America account for more than 70% of its sales.

 

Its incoming chief executive, Stephen Dacus, told the BBC about the
uncertainty faced by the business.

 

"We don't know what those tariffs are going to be. We've seen some news
recently where they have changed quite a bit so it's a little bit difficult
to understand what the ultimate effect is," he said.

 

"Lowering prices and lowering quality typically doesn't work... so what you
have to do... is find ways to maintain quality while bringing the cost
down".

 

They join a growing list of examples of companies around the world that have
warned about the impact of Trump's trade policies.

 

China tells Trump: If you want trade talks, cancel tariffs

Reeves says she understands Trump's trade concerns

 

Meanwhile, there were signs that talks on Thursday between US and South
Korean trade officials in Washington DC, aimed at removing tariffs, have
been positive.

 

US Treasury Secretary Scott Bessent said the two sides had a "very
successful" meeting.

 

"We may be moving faster than I thought, and we will be talking technical
terms as early as next week," he told reporters after the meeting.

 

South Korea's industry minister, Ahn Duk-geun, who also took part in the
talks, echoed Bessent's optimism and added that they are working toward a
"July package".

 

A 90-day pause on higher tariffs affecting dozens of countries is set to
expire on 8 July.

 

Trump has said more than 70 countries have reached out to start negotiations
since the tariffs were announced.0BBC

 

 

 

 

Who will win the race to develop a humanoid robot?

The Unitree G1 has been charming people at trade shows

It's a bright spring morning in Hanover, Germany, and I'm on my way to meet
a robot.

 

I have been invited to see the G1, a humanoid robot built by Chinese firm,
Unitree, at the Hannover Messe, one of the world's largest industrial trade
shows.

 

Standing at about 4'3" (130cm), G1 is smaller and more affordable than other
humanoid robots on the market, and has such a highly fluid range of motion
and dexterity that videos of it performing dance numbers and martial arts
have gone viral.

 

Today the G1 is being controlled remotely by Pedro Zheng, the Unitree sales
manager.

 

He explains that customers must program each G1 for autonomous functions.

 

Passers-by stop and actively try to engage with the G1, which cannot be said
for a lot of the other machines being shown off in the cavernous conference
room.

 

They reach out to shake its hand, make sudden movements to see if it will
respond, they laugh when G1 waves or bends backwards, they apologise if they
bump into it. There's something about its human shape that, uncanny as it
is, sets people at ease.

 

 

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permission before anything is loaded, as they may be using cookies and other
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before accepting. To view this content choose ‘accept and continue’.

 

Accept and continue

Unitree is just one of dozens of companies around the world developing
robots that have a human form.

 

The potential is huge - for business it promises a workforce that doesn't
need holidays or pay rises.

 

It could also be the ultimate domestic appliance. After all, who wouldn't
want a machine that could do the laundry and stack the dishwasher.

 

But the technology is still some way off. While robotic arms and mobile
robots have been common in factories and warehouses for decades, conditions
in those workplaces can be controlled and workers can be kept safe.

 

Introducing a humanoid robot to a less predictable environment, like a
restaurant or a home, is a much more difficult problem.

 

To be useful humanoid robots would have to be strong, but that also makes
them potentially dangerous - simply falling over at the wrong time could be
hazardous.

 

So much work needs to be done on the artificial intelligence that would
control such a machine.

 

"The AI simply has not yet reached a breakthrough moment," a Unitree
spokesperson tells the BBC.

 

"Today's robot AI finds basic logic and reasoning – such as for
understanding and completing complex tasks in a logical way – a challenge,"
they said.

 

At the moment their G1 is marketed at research institutions and tech
companies, who can use Unitree's open source software for development.

 

 

For now entrepreneurs are focussing their efforts on humanoid robots for
warehouses and factories.

 

The highest profile of those is Elon Musk. His car company, Tesla, is
developing a humanoid robot called Optimus. In January he said that "several
thousand" will be built this year and he expects them to be doing "useful
things" in Tesla factories.

 

Other carmakers are following a similar path. BMW recently introduced
humanoid robots to a US factory. Meanwhile, South Korean car firm Hyundai
has ordered tens of thousands of robots from Boston Dynamics, the robot firm
it bought in 2021.

 

Thomas Andersson, founder of research firm STIQ, tracks 49 companies
developing humanoid robots - those with two arms and legs. If you broaden
the definition to robots with two arms, but propel themselves on wheels,
then he looks at more than 100 firms.

 

Mr Andersson thinks that Chinese companies are likely to dominate the
market.

 

"The supply chain and the entire ecosystem for robotics is huge in China,
and it's really easy to iterate developments and do R&D [research and
development]," he says.

 

Unitree underlines that advantage - its G1 is cheap (for a robot) with an
advertised price of $16,000 (£12,500).

 

Also, Mr Andersson points out, the investment favours Asian nations.

 

In a recent report STIQ notes that almost 60% of all funding for humanoid
robots has been raised in Asia, with the US attracting most of the rest.

 

Chinese companies have the added benefit of support from the national and
local government.

 

For example, in Shanghai there is a state-backed training facility for
robots, where dozens of humanoid robots are learning to complete tasks.

 

Getty Images Six humanoid robots walk at a trade fair in China, on March 26,
2025.Getty Images

Chinese firms are well positioned to dominate the humanoid robot market

 

So how can US and European robot makers compete with that?

 

Bristol-based Bren Pierce has founded three robotics companies and the
latest, Kinisi has just launched the KR1 robot.

 

While the robot has been designed and developed in the UK, it will be
manufactured in Asia.

 

"The problem you get as a European or American company, you have to buy all
these sub-components from China in the first place.

 

"So then it becomes stupid to buy your motors, buy your batteries, buy your
resistors, shift them all halfway around the world to put together when you
could just put them all together at the source, which is in Asia."

 

As well as making his robots in Asia, Mr Pierce is keeping costs down by not
going for the full humanoid form.

 

Designed for warehouses and factories, the KR1 does not have legs.

 

"All of these places have flat floors. Why would you want the added expense
of a very complex form factor... when you could just put it on a mobile
base?" he asks.

 

Where possible, his KR1 is built with mass-produced components - the wheels
are the same as you would find on an electric scooter.

 

"My philosophy is buy as many things as you can off the shelf. So all our
motors, batteries, computers, cameras, they're all commercially available,
mass produced parts," he says.

 

Like his competitors at Unitree, Mr Pierce says that the real "secret sauce"
is the software that allows the robot to work with humans.

 

"A lot of companies come out with very high-tech robots, but then you start
needing a PhD in robotics to be able to actually install it and use it.

 

"What we're trying to design is a very simple to use robot where your
average warehouse or factory worker can actually learn how to use it in a
couple of hours," Mr Pierce says.

 

He says the KR1 can perform a task after being guided through it by a human
20 or 30 times.

 

The KR1 will be given to pilot customers to test this year.

 

Kinisi Bren Pierce with the KR1 robotKinisi

Bren Pierce says Kinisi's robot will be easy to train

 

So will robots ever break out of factories into the home? Even the
optimistic Mr Pierce says it's a long way off.

 

"My long term dream for the last 20 years has been building the everything
robot. This is what I was doing my PhD work in I do think that is the end
goal, but it's a very complicated task," says Mr Pierce.

 

"I still think eventually they will be there, but I think that's at least 10
to 15 years away."-BBC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

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Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


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