Major International Business Headlines Brief ::: 30 April 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  30 April 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  South Africa: 'Gagged' Businessman Seeks to Prove He Was Right

ü  Kenya: Government Unblocks Funds, Paving Way for Resumption of
Mamboleo-Kipsitet Road Project

ü  Sudan: Jabir Briefed On Gezira State's Preparations for Currency
Replacement

ü  South Africa: Budget Limits School Security in Gauteng

ü  Africa: Who Will Lead the African Development Bank?

ü  Tanzania's Trade War Against Malawi and South Africa, Will It Get Better?

ü  Africa: Floods and Droughts Are Two Sides of the Same Crisis

ü  Tanzania's Women Miners Digging for Equality in a Male-Dominated Industry

ü  Nigeria: U.S.-China Trade War Could Hurt Nigerian Entrepreneurs - Why,
and How They Should Prepare

ü  Namibia: N$561m to Intensify Agro-Processing, Green Schemes - NNN Wants
Imports Reduced By 80 Percent

ü  Nigeria: Troops Arrest Oil Thieves, Deactivate Illegal Refineries in
N/Delta

ü  Starbucks to hire more baristas in bid to win back customers

ü  Richard Branson criticises Donald Trump's tariffs

ü  Canada will deal with Trump 'on our terms', Carney tells BBC

ü  Trump calls Bezos as Amazon says no plan to show tariff price rises

 


 <mailto:info at bulls.co.zw> 

 


 

South Africa: 'Gagged' Businessman Seeks to Prove He Was Right

The KwaZulu-Natal businessman who was gagged by a judge is seeking to prove
the truth of his allegations against solar panel company ARTsolar.

 

Brett Latimer, two former employees of ARTsolar, and a journalist, were
stopped by a judge in March from stating that Artsolar imports solar panels
while claiming to manufacture them.

 

Now Latimer's lawyers have issued a subpoena against a local shipping firm,
asking for documents about ARTsolar's imports.

 

ARTsolar tried to block the subpoena but the Durban High Court dismissed its
bid.

Businessman Brett Latimer, who was "gagged" by the Durban High Court from
making "defamatory" allegations that ARTsolar imports solar panels instead
of manufacturing them, is seeking to prove the truth of his allegations.

 

On the back of the gagging order, his lawyers issued a subpoena against
local shipping firm Turners Shipping, asking that it provide documents
detailing ARTsolar's imports over four years.

 

ArtSolar launched an urgent court application to set aside the subpoena. The
application was dismissed by Acting Durban High Court Judge Mimie Menka on
Tuesday, with costs.

 

The judge, instead, ruled in favour of a counter-application brought by
Latimer, compelling the shipping company to provide the required documents
within five days.

 

She said ARTsolar had not shown that the matter was urgent or that the
subpoena was irregular and that the documents were relevant to the ongoing
legal dispute.

 

 

The original "gagging" order against Latimer and two former employees of
ArtSolar, Kandace Singh and Shalendra Hansraj, was granted in March by
Acting Judge Perlene Bramdhew.

 

The order prevented the three from making claims that the company conducted
its business unethically and dishonestly, in that it claimed to be
manufacturing solar panels at its New Germany factory when, in fact, the
panels were being imported from China.

 

The order also barred journalist Bongani Hans from reporting on their
allegations.

 

Judge Bramdhew specifically barred the three "whistleblowers" from
communicating with the Industrial Development Corporation (IDC) which had
provided R90-million funding for the factory.

 

That interim order will return to court at the end of July when it will
either be confirmed or discharged. But in the meantime, the IDC launched its
own urgent court application, after which it was joined as a party to the
proceedings.

 

 

Reference to the IDC was removed from the order, enabling it to investigate
the allegations.

 

In early April, lawyers for the three "whistleblowers" served the subpoena
on Turners Shipping.

 

ARTsolar responded with an urgent application in which it claimed that the
subpoena was irregular.

 

It said the origin of the solar panels had nothing to do with the ongoing
interdict litigation in which it had already been found that the allegations
were "disqualified from relying on truth and public interest" (as a defence
to defamation) because Latimer was colluding with Hansraj, who was now
working for him, and Singh, who is his girlfriend.

 

Both Hansraj and Singh were "disgruntled ex employees", the company said,
and the three were acting out of malice.

 

In his affidavit, ARTsolar chairman Bebinchand Seevnaryan said the three had
no interest in where the panels came from.

 

"They are not custodians of the public interest and have no business with
these bills of loading. They are not the IDC nor are they a body with
investigative powers. What is clearly emerging is a vendetta."

 

Hansraj said the fundamental issue in the interdict application was whether
or not the bulk of the solar panels (about 95%) were manufactured locally or
imported from China. The bills of lading were directly relevant to this.

 

"The parties require the documents in the pursuit of truth, for the
preparation of their case," Hansraj said.

 

"The process of a subpoena is designed precisely to protect the right of a
litigant to obtain documents relevant to his or her case in the pursuit of
truth and justice."

 

Hansraj attached a copy of a letter written to Latimer by Minister of Trade,
Industry and Competition Parks Tau in March this year, in which the minister
thanked him for his "ethical conduct in exposing behaviour that is
detrimental to the local content prescripts and manufacturing sector in
South Africa".

 

The minister said he viewed the allegations in a serious light and had
directed the IDC to investigate them.

 

Latimer, Singh and Hansraj have also raised a constitutional challenge to
the "gagging order", contending it violates their rights to freedom of
expression.

 

The amaBhungane Centre for Investigative Journalism has applied to join the
case as an amicus curiae (friend of the court).

 

Read the original article on GroundUp.

 

 

 

 

Kenya: Government Unblocks Funds, Paving Way for Resumption of
Mamboleo-Kipsitet Road Project

Nairobi — Deputy Chief of Staff in the Executive Office of the President in
charge of performance and delivery management Eliud Owalo, says the
reconstruction of Mamboleo Junction-Kipsitet Road is set to resume after the
government resolved longstanding funding bottlenecks that had stalled the
project.

 

The 122-kilometre road that is being implemented by the Kenya National
Highways Authority (KeNHA) at a cost of Sh15.7 billion is a strategic
investment in regional infrastructure and is divided into three lots,
executed by China Railway No. 10 Engineering Group Ltd, Sinohydro JV with
Grageb Agencies, and H. Young EA Ltd.

 

 

"The government has now unlocked the funding challenge for the road sector
that we have been witnessing over the past two years. All stalled roads in
the country will be completed in the not-too-distant future," said Owalo.

 

Construction work is being carried out by China Railway No.10 Engineering
Group Limited. Speaking on site, project engineer Li Jingang confirmed
receipt of payments and pledged swift progress.

 

"The government has paid us. We are back and committed to delivering quality
work for Kenya and Kisumu," said Jingang.

 

The second lot involves reconstruction of 43.4 km stretch between Miwani and
Chemelil to bitumen standards at a cost of Ksh.4.96 billion. Synohydro JV
with Gragab Agencies are conducting construction work.

 

The third lot involves reconstruction of 44.7 km stretch between Chemelil to
Kipsitet to bitumen standards at an estimated cost of Ksh.5.7 billion under
H. Young EA Ltd.

 

The move marks a turning point for the country's road sector, particularly
in the Nyanza region, where construction has resumed on one of its most
strategic highways.

 

Once complete, the road will significantly boost mobility, trade, and
economic integration across Kisumu, Kericho, Nandi, and Nyamira Counties.

 

Read the original article on Capital FM.

 

 

 

 

Sudan: Jabir Briefed On Gezira State's Preparations for Currency Replacement

Member of the Transitional Sovereignty Council (TSC) and Assistant
Commander-in-Chief of the Armed Forces, Lt. Gen. Ibrahim Jabir, was briefed
on the overall situation in Al-Gezira State and the state government's
arrangements for the currency replacement process during the coming period,
as well as the measures taken by the state to ensure the success of the
summer agricultural season.

 

During a meeting at his office in Portsudan on Tuesday with Al-Gezira State
Wali (governor), Al-Tahir Ibrahim Al-Khair, His Excellency pledged to
overcome all obstacles and challenges impeding the progress of the
replacement process, including opening bank accounts and networking to
facilitate procedures and bank transfers. He urged citizens to expedite the
opening of bank accounts.

 

 

The meeting touched on proposed solutions to overcome the challenges of
ensuring a successful summer agricultural season in the state, including the
provision of seeds, the opening of irrigation canals within Al-Gezira
Scheme, taking advantage of the large uncultivated areas, and coordination
with relevant authorities to provide microfinance to farmers.

 

For his part, the Wali of Gezira State explained that the meeting discussed
the state's preparations to begin the currency replacement process in the
coming period. He explained that a number of new applications have been
activated to facilitate the movement of money transfers between citizens'
various bank accounts.

 

Regarding the summer season, the Wali of Al-Gezira State said that TSC
Member pledged to overcome all obstacles and to support the agricultural
sector and provide seeds and production inputs.

 

He noted that the state has already begun opening irrigation canals within
Al-Gezira, Al-Hurga Nour-El-Din, and Al-Hilaliya projects, in addition to
exploiting the large areas, amounting to 1,770,000 acres, outside the
project for rain-fed irrigation.

 

Read the original article on SNA.

 

 

 

South Africa: Budget Limits School Security in Gauteng

The Gauteng Education Department said  it could not afford to place security
personnel at every school following a fire at Riverlea High School that
destroyed 11 classrooms and several toilets, reports SABC  News. Locals
reported seeing people at the school before the fire broke out. At least 280
Grade 8 learners, whose classrooms were among those destroyed, were to be
temporarily accommodated in the school hall. Department spokesperson Steve
Mabona said the budget did not allow for security at all schools. Security
was only deployed at high-risk schools where criminal activity or gang
violence was more prevalent.

 

Manhunt Underway After Double Fatal Shooting in Durban

 

A manhunt was underway for a suspect who shot and killed two people and
injured another in the Umbumbulu area, south of Durban, reports EWN. A
family's car broke down on the R603, and a gunman approached and opened
fire. Police found the mother and son, who had run to a nearby house with
multiple gunshot wounds; the boy died at the scene, while the mother was
taken to the hospital for treatment. The father was later found dead on a
riverbank. ALS Paramedics spokesperson Garrith Jamieson confirmed that
paramedics responded to three scenes resulting from the single shooting
incident.

 

 

Long Weekend Leads to Numerous Drunk Driving Arrests in Eastern Cape

 

At least 257 drunk drivers were arrested on Eastern Cape roads over the
Freedom Day long weekend, with Mthatha in the OR Tambo District identified
as a hotspot, reports SABC News. Eastern Cape Transport spokesperson Unathi
Binqose said Transport MEC Xolile Nqatha praised officers for their efforts
and urged motorists to change their behaviour, warning that continued
arrests of drunk drivers posed a serious threat to road safety. The arrests
came shortly after the province had released its Easter weekend road safety
statistics.

 

More South African news

 

 

 

Africa: Who Will Lead the African Development Bank?

The top job at the African Development Bank is up for grabs, with the
election slated for May 29. Five candidates vying to lead the bank have been
sharing their visions for the next five years.

 

The search for a new president of Africa's top financial institution, the
African Development Bank (AfDB), is gathering momentum.

 

The current head, Dr. Akinwumi Adesina, who is serving his second five-year
term, will step down from the position on August 31, 2025.

 

Under his leadership, the AfDB has largely prioritized promoting   economic
and social development on the continent.

 

It is a vision that Adesina told DW he has passionately pursued during his
tenure and one he believes has helped stabilize many African economies over
the past five years.

 

"Despite the headwinds that Africa has faced globally in terms of global
inflation, but also in terms of rising debt levels and depreciation of
currencies   and of course   climate change, Africa continues to post very
resilient growth," he said.

 

 

Eleven out of the 20 fastest-growing economies in the world last year came
from Africa, according to the AfDB, and Adesina says this shows the bank is
doing something right.

 

However, he told DW that there are still challenges that require real
solutions.

 

"We still need to provide a lot of concessional financing to African
countries because there is still a tapering effect of the Covid-19 situation
that many of the countries are still coping with," Adesina said.

 

Who are the candidates?

 

The five candidates seeking to take over from Adesina includeSenegal's
Amadou Hott, who served as Senegal's Minister of Economy, Planning and
Cooperation (2019-2022), Dr. Samuel Munzele Maimbo from   Zambia, who is
currently the Vice President for Budget, Performance Review, and Strategic
Planning at the   World Bank   and   Mauritania's   Sidi Ould Tah, a former
President of the Arab Bank for Economic Development in Africa.

 

 

The other two contenders are   Chad's Abbas Mahamat Tolli, an economist and
a former Governor of the Bank of Central African States, as well as the only
female candidate, South African Bajabulile Swazi Tshabalala. She is the
former Senior Vice President of the African Development Bank.

 

The five candidates have utilized various public engagements to highlight
the key priority areas they would focus on if elected to the top job.

 

What are the key priorities?

 

Senegal's Amadou Hott says the bank needs to invest more in education to
develop the continent's human capital.

 

"We have to invest more in education; we need to invest more in skilled
development. It is not just to have education and skills, but to have job
opportunities," he told a recent session held for the five candidates at the
Brooklyn institution.

 

"Our biggest challenge is that we have tens of millions of young people, men
and women, who are on the job market and they are not finding opportunities.
So, whatever we do, we have to make sure that our economies are generating
more jobs and activities so that people can have incomes," he stressed as he
made a case for his bid.

 

Dr. Samuel Munzele Maimbo from Zambia told DW that his focus would be to
ensure that most governments receive the necessary financial support to grow
their respective economies.

 

Kenya is one of the biggest beneficiaries of AfDB loans, which went into the
Lake Turkana Wind Power project (LTWP) for example.Image: Getty
Images/AFP/Y. Chiba

 

"I want to make sure that we are supporting governments as best we can to
navigate a very complex, polarized environment," Maimbo said, adding that
the bank has a sizable amount of concessional financing to support
governments, but that ultimately their number one goal was "ensuring that
economies are growing quickly."

 

Chad's Abbas Mahamat Tolli wants the bank to champion the push for African
economies to diversify and shore up their revenue base. He said that this
can be achieved by investing in renewable energy.

 

"We need to focus on renewable energy so that we can have reliable and
sustainable energy. We also need to invest in the infrastructure and
agriculture sectors," Tolli said, signaling that these would be priorities
for him.

 

Maximizing the youth's potential

 

For Mauritania's Tah, his key focus would be maximizing the potential of the
continent's youthful population, and investing in agriculture.

 

"We need to work on my demography and turn it into power. We need to use our
natural resources and transform our wealth into prosperity," he stated.

 

Many African countries still grapple with basic infrastructure, such as a
steady supply of electricity.Image: Ahmed Jallanzo/epa/picture alliance

 

He said the bank must encourage African countries to add value to their
natural resources   and transform those products into a vital source of
revenue for growth. Investing in women and children is also a key focus for
Tah.

 

Bajabulile Swazi, the only female candidate in the race, wants the bank to
focus on productivity and infrastructure enhancement.

 

"Africa's productivity is behind those of many other regions in the rest of
the world and that productivity gap arises because of the infrastructure
gap," she highlighted.

 

"In my view it is not possible to create jobs to industrialize to do any of
these ambitious things without basic infrastructure. That includes roads,
that includes electricity."

 

The key vote to select one of the five candidates will take place during the
2025 Annual Meeting of the Bank in Abidjan, the Ivorian capital, on May 29.

 

The focus likely will be on identifying who among the five shortlisted
candidates can best advance the bank's agenda into the future.

 

Mitigating the impact of climate change 

 

AfDB's current President Adesina admitted that in the future, the bank must
also tackle the impact of climate change on African countries,   whose
economies are reeling under its effects, despite not being major
contributors to it.

 

"The issue is to make sure that we support African countries that did not
cause climate change to be able to adapt to climate change and that is what
we are doing at the African Development Bank," he said.

 

The African Development Bank provides loans, grants, and technical
assistance to African governments and private companies for projects and
programs that support development.

 

These support programs aim to reduce poverty, improve living conditions, and
foster sustainable growth on the continent. Adesina's tenure has also been
focused on projecting Africa as a conducive investment destination, an
initiative he says is a priority area for the bank.

 

"We take pride in marketing as an investment destination and one of the
areas that we believe African countries can do better is how they get paid
for their natural resources," he said. "If we are able to get good public
financial management and make sure we are managing our natural resources
very well, we can mobilize enough resources to deal with many of [our]
issues."

 

 

 

 

 

Tanzania's Trade War Against Malawi and South Africa, Will It Get Better?

Last week but one, on Thursday, Hussein Bashe, Minister for Agriculture,
gave a nearly one-week ultimatum to the Republics of Malawi and South Africa
to reverse their position on import policies over Tanzania's maize, rice,
maize flour, plantains and ginger.

 

While the statement, posted on X platform (formerly Twitter) didn't
specifically mention types of crops from Tanzania that were blocked by the
government of South Africa, the most industrialised nation in Africa wasn't
spared.

 

This decision was reached after failed diplomatic efforts by the government
of Tanzania to change the status. Mr Bashe went on to recall a similar
situation that Tanzania faced when tried to open up avocado market in South
Africa before it was allowed.

 

 

"The government (of Tanzania) has received an official communication that
the Government of Malawi has banned importation of various agricultural
crops from Tanzania, including, flour, Rice, Ginger, Plantains and Maize.
This measure has directly affected activities of our businessmen who exports
crops to Malawi".

 

"It should be understood that for the past five years the Government has
taken a lot of efforts to open up a market for Plantains in South Africa to
no avail. This situation is akin to challenges we faced for the past ten
years in finding the market for avocadoes, till we decided to take actions
to protect our interests.

 

" Once this ultimatum elapses without any change in position by the
Governments of Malawi and South Africa Tanzania would retaliate by
Wednesday, last week. Well, it happened.

 

 

The governments of Malawi and South Africa didn't budge in, they literally
stood they ground and as promised the youthful Minister of Agriculture came
back , again on X, this time with a video announcing retaliatory steps. It
was worse on both sides, whereas crops imports from Malawi were blocked,
fertilisers that have been transiting through the port of Dar es Salaam
would also be blocked. South was not in good shape as well, all agricultural
crops expected to Tanzania were banned, this included apples and grapes.

 

"By this time, 6 pm, as Minister for Agriculture, I have not received any
notice (from Malawi and South Africa). Therefore, I officially announce
staring this night the following issues to these two countries. South Africa
has been exporting to Tanzania fresh apples, therefore from today it's
illegal to import South African fresh apples. South Africa exports different
fruits, including grapes, now from today it's illegal to import South
African fruits.

 

Therefore, we will not allow any agricultural crop from South Africa to come
to our country".

 

"Regarding Malawi, by this time they haven't deleted their notice that they
issued. Therefore, I officially declare it's illegal to import, to the
United Republic of Tanzania, any agricultural crop from Malawia starting
today. Apart from that to the two countries especially Malawi, we will not
allow any crop that is on transit to pass through the United Republic of
Tanzania".

 

The Minister went on to state that trade war will be extended to maize
grains that were bought by Malawi from Tanzania and fertilisers:

 

"All maize that they bought to solve their hunger problem will not be
allowed to leave the country for Malawi, we will not send there.

 

"Thirdly, on first of May, they were supposed to start taking fertilisers
from Tanzania or the next agricultural season, we will not allow any
fertilisers to go to Malawi".

 

The Minister finished by assuring Tanzanians that this measure will not
affect Tanzania's food security. "And this measure is not endangering
national security, food security. There is no Tanzanian that will die due to
lack of South Africa's grapes nor apples".

 

Nevertheless, on Friday, 25th April 2025, the Minister realised a notice
that the government has paused all trade restrictions giving room for
negotiations that are taking place between Tanzania and South Africa as well
as the Republic of Malawi. These efforts are led by the Minister for Foreign
Affairs. We may discuss more on this in the coming essays.

 

Read the original article on Daily News.

 

 

 

 

Africa: Floods and Droughts Are Two Sides of the Same Crisis

United Nations — Water emergencies are deeply personal to us. Coming from
Southeast Asia and southern Africa--two regions that struggle with water
challenges--we have witnessed firsthand how water defines the fate of
communities and nations.

 

In many areas of the world, floods have become a persistent risk, displacing
millions and causing severe economic losses. Extreme rainfall has led to
destroyed homes, infrastructure, and livelihoods. In 2022 alone, floods
affected more than 90 million people globally, with damages surpassing $120
billion.

 

Yet in others, prolonged droughts have had devastating consequences. In
southern Africa, rivers are drying up, crippling agriculture and energy
production. The severe droughts of recent years have left millions without
reliable access to water, and created cascading economic and social
challenges.

 

The extremes of too much or too little water are connected by a simple
truth: we cannot solve our water challenges without protecting the
ecosystems that regulate them.

 

 

Water is running out where we need it most and arriving in excess where we
don't. One in four people lacks access to safe water. Droughts and floods
are intensifying, putting not just people, but entire economies at risk.

 

But the global response remains reactive rather than preventative--billions
are spent on disaster relief, yet the fundamental role of nature in water
resilience remains overlooked.

 

Across our regions, we have seen how wetland ecosystems sustain life. Rice
paddies in Southeast Asia sustain food production while also acting as
natural reservoirs, capturing and regulating seasonal water flows. Mangrove
forests along coastlines protect from storm surges while helping to
stabilize freshwater supplies.

 

In southern Africa, wetlands help sustain livestock and agriculture, with
floodplains and seasonal wetlands providing grazing land and water storage
during dry periods. The Okavango Delta in Botswana, a Ramsar-listed Wetland
of International Importance, is just one example--critical for regional
water resilience, supporting biodiversity and sustaining livelihoods in one
of Africa's driest regions.

 

 

Cracked earth, from lack of water and baked from the heat of the sun, forms
a pattern in the Nature Reserve of Popenguine, Senegal. Credit: UN
Photo/Evan Schneider

 

Wetland ecosystems are nature's most effective water managers, yet they are
disappearing three times faster than forests. The destruction of wetlands in
urban areas has increased the severity of floods, while the degradation of
inland wetlands has led to worsening desertification.

 

We tend to focus on large-scale water infrastructure projects--dams,
pipelines, and desalination plants--to address water shortages. While these
projects play an important role, they cannot fully replace the natural
functions of wetlands. Wetlands naturally store water, filter pollutants,
and regulate floods and droughts, yet their conservation and restoration
remain underfunded.

 

Every wetland lost further weakens our ability to manage water sustainably.

 

The global water financing gap is estimated at $1 trillion annually, but
only a fraction of this goes toward nature-based solutions. Restoring
wetlands is often a cost-effective complement to traditional infrastructure,
reducing the need for costly flood defences and water treatment facilities.
So why does it continue to be undervalued in water governance?

 

The international community has already taken some important steps in the
right direction. The Sustainable Development Goals (SDGs), particularly SDG
6 on clean water and sanitation, depend on addressing wetland loss.

 

Wetland conservation and restoration are essential to building climate
resilience and can no longer be sidelined in global funding mechanisms.
Governments must integrate wetland protection into national water policies,
and the private sector must step up with investment in ecosystem-based water
management.

 

One truth is undeniable: We must rethink water governance. As co-authors of
this piece, we know that solving global water issues requires integrated
solutions. The Triple A approach presented at the One Water
Summit--Advocate, Align, Accelerate--provides a framework for putting
wetlands at the centre of water strategies through collaboration.

 

The upcoming COP15 of the Convention on Wetlands, hosted in Victoria Falls,
Zimbabwe, in July 2025, presents an opportunity to reinforce commitments to
wetland restoration as a solution for water resilience.

 

Delaying action only deepens losses, as floods and droughts continue to
wreak havoc on both people and the planet. Investing in wetlands now
prevents far greater costs in the future. Each restored wetland means
cleaner water, fewer disasters, and a stronger foundation for resilience.

 

If we want reliable water both now and for future generations, we must
protect the ecosystems that sustain it. Keeping wetlands intact means
keeping water flowing--clean, available, and accessible to all.

 

Retno Marsudi and Musonda Mumba

 

Source: Africa Renewal, United Nations

 

IPS UN Bureau

 

Follow @IPSNewsUNBureau

 

Read the original article on IPS.

 

 

 

 

 

Tanzania's Women Miners Digging for Equality in a Male-Dominated Industry

Dar es Salaam — Under the scorching Tanzanian sun, Neema Mushi wipes sweat
from her dust-covered face and swings her pickaxe into the earth. The impact
sends dust swirling into the air, coating her tattered clothes. She barely
notices. For the past eight years, this has been her life--digging, sifting,
sieving, and hoping to strike gold in the male-dominated pits of Geita. It
is a grueling task riddled with obstacles.

 

"I want to own a mining pit myself," she says. "But in this industry, women
are always ignored when it comes to land ownership issues."

 

Despite years of hard work, women like Mushi remain on the wobbly edge of
survival.

 

 

One evening, after hours of rock crushing, she spots a tiny twinkle of gold.
Before she can pocket it, a male miner comes close to her.

 

"This is my spot," he growls, snatching the gold from her hands. Mushi
clenches her fists, knowing she can't fight back--not in a system that was
never built for her.

 

She once tried to register a mining plot in her name. At the local office,
the clerk barely looked up.

 

"You need your husband's permission," he muttered, shuffling papers on his
desk. Mushi hesitated--she had no husband, only three children to feed. The
clerk shrugged. "Then find a male partner," he said, waving her away.

 

Before joining Umoja wa Wanawake Wachimbaji, a cooperative for women miners,
Mushi struggled to pay her children's school fees. Now, she watches them
walk to school in clean uniforms, their laughter filling the air. She has
struck more than gold--she has found hope.

 

 

A group of women miners formed Umoja wa Wanawake Wachimbaji, pooling
resources and fighting for a mining license of their own. Credit: Kizito
Makoye/IPS

 

Crushing Male Chauvinism

 

Tanzania is Africa's fourth-largest gold producer, with mining contributing
nearly 10 percent of the country's GDP. An estimated one to two million
people work in artisanal and small-scale mining (ASM), and nearly a third of
them are women. Yet, despite their numbers, female miners struggle for
recognition, battling land ownership restrictions, lack of financing, and
discrimination in a sector where men hold the power.

 

For years, Mushi worked informally at the edges of licensed mines, sifting
through gold-bearing rocks discarded by male miners. Without a mining
license or land of her own, she relied on middlemen who bought her finds at
exploitative prices.

 

"If you don't have your own claim, you are at their mercy," she says. "They
can chase you away at any time."

 

Tanzania's mining laws technically allow women to own licenses, but in
practice, few manage to acquire them. The bureaucratic process is complex,
and costs are prohibitive.

 

"Most mining land is allocated to men or big companies," says Alpha
Ntayomba, a mining activist and Executive Director of the Population
Development Initiative. "Women often end up working on borrowed land or as
laborers on someone else's claim."

 

Beyond land rights, financial barriers loom large. Mining requires
investment--equipment, processing facilities, and sometimes heavy machinery.
But banks see women miners as too risky, denying them loans and locking them
into a cycle of dangerous, low-paying work.

 

As a light rain drizzles, a dozen women trudge through dust-choked paths,
carrying heavy sacks of ore on their heads. Many are single mothers,
struggling to survive in an industry where they are often underpaid,
exploited, and subjected to harassment.

 

"Women in artisanal mining are at the bottom of the chain," says Ntayomba.
"They do the hardest jobs--crushing rocks, washing ore in
mercury-contaminated water--yet they earn the least and are most vulnerable
to abuse."

 

Sexual Exploitation and Harassment

 

For many female miners, exploitation is a daily reality. Reports of sexual
harassment and coercion in exchange for job opportunities are widespread.
Women working in gold-processing areas often depend on male pit owners or
brokers to access ore, making them vulnerable to abuse.

 

"Some women are forced into exploitative relationships just to get access to
the gold they help extract," says Ntayomba. "Sexual favors become a hidden
cost of doing business for many women in this sector."

 

Many hesitate to report harassment for fear of retaliation or job loss.
Others lack the legal knowledge or support networks needed to seek justice.

 

"I know women who were kicked out of their jobs after rejecting advances
from male mine owners," Ntayomba says. "The system is rigged against them,
and the lack of strong legal protections worsens it."

 

Health Risks and Mercury Exposure

 

Beyond exploitation, women in artisanal mining also face severe health
risks. Many spend hours washing gold with mercury--a toxic metal that can
cause neurological damage and birth defects--without any protective
equipment.

 

"Most women don't know how dangerous mercury is," says Ntayomba. "They mix
it with their bare hands and inhale toxic fumes, exposing themselves and
their children to long-term health problems."

 

Activists like Ntayomba are pushing for change through advocacy and training
programs. His organization has been lobbying for stricter regulations to
protect women's rights, provide safer mining practices, and ensure equal
access to economic opportunities.

 

"We need the government to recognize women miners as key players in the
sector," he says. "That means formalizing their work, providing safety
training, and ensuring they have legal rights to mining claims."

 

But progress is slow.

 

"Women in artisanal mining deserve dignity, fair pay, and protection from
exploitation," Ntayomba emphasizes. "The industry cannot continue to thrive
on their suffering."

 

Breaking Rocks, Breaking Barriers

 

Determined to change their fortunes, Mushi and a group of women miners
formed Umoja wa Wanawake Wachimbaji, pooling resources and fighting for a
mining license of their own--in line with Sustainable Development Goal 8,
which focuses on "Decent Work and Economic Growth, a crucial building block
for achieving gender equity and women empowerment.

 

With support from the Tanzania Women Miners Association (TAWOMA) and
government programs for female entrepreneurs, they secured a small mining
plot and invested in better equipment.

 

"We had to prove that we belong here," says Anna Mbwambo, a founding member
of the cooperative. "For too long, women have been treated like helpers, not
miners."

 

For Mushi, the cooperative has changed everything. "Before, I could barely
afford school fees for my children," she says. "Now, I can save, and I dream
of expanding."

 

Despite persistent challenges, change is underway. Organizations like
STAMICO, Tanzania's State Mining Corporation, are training small-scale
miners in safer, more efficient techniques. The government has also
established gold-buying centers to ensure fairer prices, reducing women's
dependence on exploitative middlemen.

 

Internationally, calls for gender inclusivity in mining are growing. The
World Bank has pushed for reforms to make the industry more accessible to
women, while the Extractive Industries Transparency Initiative (EITI) is
advocating for policies that empower female miners.

 

TAWOMA, which has fought for women's rights in mining since 1997, continues
to push for a future where women are not just included but leading.

 

"We want to see women owning mines, running businesses, and making
decisions," says its chairwoman.

 

Carving a New Future

 

Standing at the edge of her mine, Mushi watches her fellow miners work the
land they now own. It is a small plot, overshadowed by larger male-run
operations, but to her, it represents something bigger--hope.

 

"I want my daughters to see that a woman can do anything," she says. "She
can work, she can own it, and she can succeed."

 

She grips her pickaxe and swings again, sending another spray of dust into
the air. Each strike brings her closer to a future where women miners are
not just surviving but thriving.

 

This article is brought to you by IPS Noram, in collaboration with INPS
Japan and Soka Gakkai International, in consultative status with the UN's
Economic and Social Council (ECOSOC).

 

IPS UN Bureau Report

 

Follow @IPSNewsUNBureau

 

IPS UN Bureau, IPS UN Bureau Report, SDGs for All

 

Read the original article on IPS.

 

 

 

 

Nigeria: U.S.-China Trade War Could Hurt Nigerian Entrepreneurs - Why, and
How They Should Prepare

As China and the United States lock horns in a trade war, slamming tariffs
on each other, entrepreneurs in Nigeria are vulnerable to the fallout. In
2024, 27.8% of imports into Nigeria came from China. In the same year, US
exports to Nigeria reached US$4.2 billion. Economist and entrepreneurship
researcher Tolu Olarewaju unpacks what could happen if Chinese products
destined for the American market were diverted to developing economies,
including Nigeria.

 

What dangers do the tariff tensions pose to Nigeria's entrepreneurs?

 

China is the world's biggest manufacturing nation, producing far more than
its population consumes domestically. It is already running an almost US$1
trillion goods surplus, meaning it exports more goods than it imports.

 

China is often producing those goods at below the true cost of production
due to domestic subsidies and state financial support, like cheap loans for
favoured firms.

 

If the goods it currently exports are unable to enter the US because tariffs
have made them too expensive, Chinese firms could seek to divert them to
other countries. This could be beneficial for some consumers. But it could
undercut entrepreneurs who make competing products in these countries and
threaten jobs and wages.

 

Looking at the past profile of Chinese exports to Nigeria, these are some
Nigerian goods that could be replaced by cheaper goods from China:

 

Textiles and garments: Nigeria is the largest producer of textiles in west
Africa. The Nigerian textile, apparel, and footwear sector contributed 2.97%
to Nigeria's GDP in 2023 and contracted by 1.75% in the first quarter of
2024. Locally made fabrics, garments and leather goods can easily be
replaced by Chinese products, especially in the low-cost and mass-market
segment. This is because China is one of the sector's largest producers
globally and can export at low cost.

 

 

In 2024, the US was the top destination for China's textiles exports.

 

Furniture and home décor: Nigerian artisans are skilled at producing wooden
furniture, home décor items, and other interior products. However, China is
a global leader in furniture manufacturing. It offers mass-produced,
inexpensive items. The wide variety and affordability could displace
Nigerian furniture makers. The furniture market in Nigeria is expected to
generate revenue of US$5.11 billion in 2025 and experience an annual growth
rate of 2.93% between 2025 and 2029.

 

Footwear: The Nigerian footwear market is valued at US$2.57 billion in 2025
and is expected to grow annually by 9.83%. The Nigerian footwear industry
produces around 50 million pairs of shoes annually and employs over 500,000
people. China is one of the largest producers of footwear. In the US, 61.9%
of all shoes are imported from China. Nigerian shoe manufacturers may find
it difficult to compete with the flood of affordable Chinese-made footwear.

 

 

Beauty, cosmetic, and skincare products: The Nigerian soap market is
growing. It generated revenue of US$660.5 million in 2024 and is expected to
reach US$1.07 billion by 2030. With a population of over 200 million, the
demand for soap products is increasing. China is a major supplier of
inexpensive, mass-produced beauty products.

 

What are the biggest challenges holding back Nigerian entrepreneurs?

 

Weak infrastructure: Frequent power outages make it difficult for businesses
to operate and distribute their products. This is a significant barrier,
especially in the age of digital technologies, machine learning and
artificial intelligence. Poor road conditions also make it difficult to
transport goods.

 

High inflation: Nigeria's headline inflation rate on a year-on-year basis
stood at 24.48% in January 2025, and 29.90% in January 2024. High inflation
raises the cost of raw materials, fuel, utilities and transport.

 

Inflation also means a reduction in the purchasing power of consumers. While
inflation should make Nigeria a less attractive market, Chinese goods are
typically cheaper than local or western alternatives, even when inflation
affects import costs.

 

Interest rates for business loans are high in Nigeria. This reduces profit
margins and makes it harder to maintain affordable prices for consumers.

 

A poor business environment: Nigeria's unpredictable political and economic
landscape, characterised by shifting policies, and inconsistent regulations,
makes it difficult for entrepreneurs to plan. They need to be able to
forecast expenses, set pricing strategies or invest in long-term projects.

 

Corruption also increases the costs of doing business and makes the business
environment more uncertain.

 

While it might seem logical for the government to protect the domestic
business environment with blanket tariffs as suggested by the Lagos Chamber
of Commerce and Industry, a more strategic approach is needed, one that
focuses on targeted tariffs and investing in sectors with strong growth
potential.

 

Limited access to finance and high interest rates: Access to finance is a
major barrier due to high interest rates and unreasonable collateral
requirements for business credit.

 

Currency depreciation and exchange rate volatility: The Nigerian naira has
depreciated against foreign currencies in recent years. Entrepreneurs who
rely on imports for raw materials or equipment have been hit hard by
fluctuating exchange rates. Rising import costs can lead to even higher
production costs. For businesses looking to export, this volatility can
reduce the profitability of foreign sales, discouraging expansion into
international markets.

 

What should Nigeria's entrepreneurs do to prepare for any potential fallout
from the China-US trade war?

 

Identify niche market needs: They should identify a market need that is not
being met or that is under-served and cannot easily be met by Chinese goods.

 

Focus on customer service: This way, entrepreneurs can build customer
loyalty and reputation despite the influx of cheap goods.

 

Embrace innovation: Nigerian entrepreneurs should be open to new ideas and
technologies that can help them create new products and services, increase
efficiency and reduce costs.

 

Diversify supply chains: Relying heavily on imports from one country,
especially raw materials, machinery, or electronics, can lead to shortages
and price hikes if trade tensions escalate. Businesses should identify
alternative suppliers, explore local sourcing options, and build stockpiles
of essential inputs.

 

Explore new export markets: Nigerian entrepreneurs should exploit regional
trade agreements like the African Continental Free Trade Area for easier
access to African markets.

 

Adaptability and value creation: Businesses that focus on value creation are
best positioned not just to survive but to thrive amid global shifts. Raw
material exporters (for example, cashew and cocoa) may be vulnerable to
price shocks. Value-added products offer better margins and greater market
protection. Entrepreneurs should consider investing in light manufacturing
or local processing, such as turning cocoa into chocolate.

 

Tolu Olarewaju, Economist and Lecturer in Management, Keele University

 

This article is republished from The Conversation Africa under a Creative
Commons license. Read the original article.

 

 

 

 

Namibia: N$561m to Intensify Agro-Processing, Green Schemes - NNN Wants
Imports Reduced By 80 Percent

In an ambitious bid to reset, modernise and intensify the overall output of
the country's agriculture sector, government will invest over N$561 million
in agriculture infrastructure, including in various green schemes and
agro-processing segment.

 

The planned N$561 million investment will be made during the 2025/26
financial year.

 

This was announced by President Netumbi Nandi-Ndaitwah during her recent
State of the Nation address in Parliament.

 

She shared her desire to see the country's overall import of agricultural
products reduced by 80%. "In 2024, Namibia experienced a devastating
drought, with agriculture, which accounts for at least 23% of total direct
employment, negatively affected. However, in 2025, large parts of the
country received good rainfall, reviving prospects for agricultural
productivity," she stated. "We cannot realise the ambitious undertakings
contained in our manifesto if we continue to do things in the same manner,
yet expecting different results. I will repeat it again here. We are too few
to be poor. We can eradicate poverty. The plan that we have, which clearly
outlines seven priority areas, is spearheaded by agriculture," said
Nandi-Ndaitwah.

 

 

The President targets the revival and boosting of the country's Green
Schemes and agro-processing sector.

 

In addition, she plans to beef up the country's meat sector and its overall
throughput through the introduction of the Cattle Breed Improvement (Bull)
and Cattle Herd Restocking Schemes.

 

In the global context, Namibia's over 1.2 million cattle represent less than
a quarter percent of the global herd, which amounted to over 1 billion in
2022.

 

 

The production of beef worldwide was estimated to amount to 59 million
tonnes in 2022, compared with Meatco's meat processed at 8 588 tonnes in
2022/23.

 

Due to Namibia's nominal share of global beef production, it is imperative
for the country to focus on selected niche and premium markets for its
high-quality products.

 

Value chains

 

Even though agriculture's contribution to the Namibian gross domestic
product (excluding the fishing sector) over the last five years has been
just under 5%, it remains one of Namibia's most important sectors.

 

This is because most of Namibia's population is dependent directly or
indirectly on the agricultural sector for their livelihoods.

 

Livestock farming contributes to approximately two-thirds of Namibia's
annual agricultural production.

 

Crop farming and forestry make up the remaining one-third.

 

The sector already supplies high-quality beef, sheep and goat products to
international markets. In March 2020, Namibia became the first and only
African country to export beef to the United States.

 

Investment opportunities exist in value- chain activities, particularly
meat-processing and related industries, such as canning, tannery and leather
products.

 

Veterinary service provision, animal vaccine and medicine production may
offer equally viable investment opportunities.

 

"The aim is to improve the beef industry. The breed improvement schemes are
targeting emerging, resettled and communal farmers. As our Founding
President Sam Nujoma taught us, a nation that cannot feed itself will never
be respected. By placing emphasis on food security, climate-resilient and
competitive agriculture, we aim to reduce agriculture imports by 80%,"
Nandi-Ndaitwah stated.

 

The President admitted that the recurring drought has made life harder for
most local farmers, as many were forced to destock their animals. Many
others were left with no choice but to close their farming operations
altogether due to the drought.

 

Agro sector potential

 

There are currently only three agronomic crops that are gazetted as
controlled, namely white maize, pearl millet and wheat.

 

These crops are also considered to be staple food of Namibia.

 

The agronomic industry in Namibia is faced with many challenges, such as
drought, high input cost, pests and diseases, although the number one
challenge is recurrent drought.

 

At the same time, Namibia remains a net importer of the three agronomic
crops.

 

Farmers have a secured market through the grain marketing mechanisms,
whereby import restriction or close border periods are implemented during
times of sufficient local production.

 

Production of agronomic crops, mainly white maize and pearl millet, takes
place in both the commercial and communal areas under irrigation.

 

They are rain-fed and marketed to millers.

 

However, pearl millet is predominately produced in communal areas under
rain-fed production. Wheat production takes place under irrigation in the
commercial areas and government projects situated in the communal areas.
There are currently no exports of agronomic products due to limited
production.

 

The lack of water is an ever-present constraint in most parts of the
country.

 

This climate means that the potential for arable agriculture is generally
limited.

 

Agricultural potential is therefore confined mainly to livestock farming and
high-value crops such as dates and grapes, which are focused on the export
market.

 

However, climate-smart farming is gaining more attention as a needed area
for development to allow Namibia to reap more from its agriculture sector.

 

Read the original article on New Era.

 

 

 

 

Nigeria: Troops Arrest Oil Thieves, Deactivate Illegal Refineries in N/Delta

Troops of the 6 Division, Nigerian Army, have arrested 23 suspected oil
thieves and deactivated 13 artisanal refineries during intensified
operations across the Niger Delta region.

 

The operations, conducted between April 21 and 27, 2025, also led to the
confiscation of over 180,000 litres of stolen petroleum products. The Acting
Deputy Director, 6 Division Army Public Relations, Lt. Col. Danjuma Jonah
Danjuma, disclosed this in a statement issued Monday in Port Harcourt.

 

Lt. Col. Danjuma said the operations spanned Rivers, Bayelsa, Akwa Ibom,
Abia, and Delta States, as troops, working in synergy with other security
agencies, sustained an aggressive crackdown on oil theft and related crimes.

 

He quoted the General Officer Commanding (GOC) 6 Division, Major General
Emmanuel Eric Emekah, as urging troops to maintain the momentum against all
forms of economic sabotage. The GOC also appealed to residents of the Niger
Delta to support military efforts by providing credible information on
criminal activities.

 

Daily Trust reports that just last weekend, a deadly explosion at a site
used for storing illegally refined crude oil in Omoku, Ogba/Egbema/Ndoni LGA
of Rivers State, claimed over four lives.

 

Read the original article on Daily Trust.

 

 

 

 

 

Starbucks to hire more baristas in bid to win back customers

Starbucks will hire more baristas and scale back plans to roll out
automation, the coffee shop giant's chief executive Brian Niccol says.

 

The move, which is part of his strategy to win back customers, comes as
other food and drink chains increasingly adopt technology to cut costs.

 

Also on Tuesday, the firm announced worse-than-expected financial results as
its sales continue to fall.

 

Mr Niccol was brought into Starbucks last year tasked with turning the
business around as it struggles with rising prices and consumers cut back
spending.

 

 

"Over the last couple of years, we've actually been removing labour from the
stores. I think with the hope that equipment could offset the removal of the
labour," Mr Niccol said during a call with investors.

 

"What we're finding is... that wasn't an accurate assumption with what
played out."

 

Increasing staff numbers was tested in a handful of stores around the time
Mr Niccol joined the firm in September 2024. He has been expanding the
approach to include around 3,000 stores this year.

 

At the same time the firm said it will pull back from deploying its Siren
Craft System. Named after the iconic Starbucks logo, it is a suite of
technology and equipment that was introduced in 2022 to streamline
drink-making.

 

Mr Niccol highlighted that taking on more staff would mean higher costs but
said he was "banking on some growth to come with the investment".

 

Alongside recruiting more baristas, Starbucks is also revamping its coffee
shops, menus and the company's dress code.

 

Starbucks said in April that its baristas would wear dark, single coloured
shirts to "allow our iconic green apron to shine and create a sense of
familiarity for our customers".

 

In January, it reversed rules for its cafes in North America that allowed
people to use their facilities even if they had not bought anything.

 

The changes were a U-turn from a policy introduced six years ago that
allowed people to linger in Starbucks outlets and use their toilets without
making a purchase.

 

So far Mr Niccol's turnaround efforts have seen limited results.

 

The company's latest financial figures showed that global sales fell by 1%
in the three months to the end of March, the fifth quarterly decline in a
row.

 

But while trading continued to show weakness in the US, which is its biggest
market, sales rose in China and Canada.

 

Starbucks shares fell by more than 6.5% in extended trading after the
earnings were announced.-BBC

 

 

 

 

Richard Branson criticises Donald Trump's tariffs

The UK remains a "fantastic" place to start a business despite the "setback"
of Brexit and the impact of Donald Trump's tariffs, Sir Richard Branson
says.

 

Speaking at the launch of his Virgin Group's hotel in Shoreditch, east
London, the entrepreneur said that the world of business would "have to deal
with... the complete uncertainty" of the impact of the US president's
tariffs.

 

The 74-year-old also told the BBC that he wanted to "make London prosperous
for everybody" following the UK's decision to leave the EU.

 

Sir Richard said: "I still think it's a good time to start in the UK and...
if we businesspeople can generate enough income for the UK, then taxes will
start going down for people."

 

 

Richard Branson

Sir Richard told BBC London he thought Trump "got a nasty shock"

He told the BBC that, more than 50 years after launching Virgin Records in
London, the UK remained "really special" and was "one of the few countries
in the world that is stable".

 

Sir Richard said: "I think that he [Trump] got a nasty shock when the whole
world looked like it was going to melt down.

 

"When he thought he could get away with ridiculous tariffs, he had to
backtrack and hopefully he's learned his lesson and there will be a more
sensible regime put in place - but with him you never know what's going to
happen.

 

"It's that unpredictability that has done a lot of damage in the world in
the last couple of months."

 

 

Tourist tax could revive London's arts and culture

Branson's rocket company cuts majority of workforce

James Bermingham, chief executive of Virgin Hotels, said: "Londoners will
weather any storm, and we've seen that decade after decade and crisis after
crisis.

 

"The way people bounce back in the city truly sets a standard for the world
to follow."

 

On the possible introduction of a tourist tax in the capital, Mr Bermingham
said he would support a "small, reasonable fee", that "doesn't restrict
demand, is industry-led and focused on... improving the tourist experience
and improving tourism".-BBC

 

 

 

 

Canada will deal with Trump 'on our terms', Carney tells BBC

Canadian Prime Minister Mark Carney has said his country deserves respect
from the US and will only enter trade and security talks with President
Donald Trump "on our terms".

 

Speaking exclusively to the BBC as the polls were closing, Carney said he
would only visit Washington when there was a "serious discussion to be had"
that respected Canada's sovereignty.

 

Carney and Trump have since spoken and agreed to meet in the near future,
according to the Canadian prime minister's office.

 

"The leaders agreed on the importance of Canada and the US working together
– as independent, sovereign nations – for their mutual betterment," the
statement reads.

 

 

Trump was also said to congratulate Carney on the election.

 

Since Trump's re-election to the White House, the US president has
repeatedly mentioned making Canada the "51st state" of America, and earlier
on Tuesday this was reiterated by the White House on Tuesday.

 

"The election does not affect President Trump's plan to make Canada
America's cherished 51st state," White House deputy spokesperson Anna Kelly
said.

 

Carney, who secured a historic victory for his Liberal Party in a snap
election on Monday, said such a scenario was "never, ever going to happen".

 

"Frankly, I don't think it's ever going to happen with respect to any other
[country]... whether it's Panama or Greenland or elsewhere," he added.

 

However, he said there was a "win-win possibility" for his country if it
could secure a deal with the US and also build on trading relationships with
the European Union and the UK.

 

Strained US relations

The US is a big market for Canadian businesses with roughly 75% of Canada's
exports heading south.

 

Canada accounts for a much smaller 17% of US exports.

 

Canada is also America's largest foreign supplier of crude oil. America's
trade deficit with Canada - expected to be $45bn in 2024 - was mostly driven
by US energy demands.

 

 

 

Canada and US relations have been strained in recent months, driven by
Trump's talk of a "51st state" and referring to previous Prime Minister
Justin Trudeau as "governor" - the title for leaders of individual American
states.

 

The US president has also sparked a global trade war in which Canada was one
of the first countries targeted with tariffs.

 

Trump has partially imposed a blanket 25% tariff on various Canadian goods,
along with 25% import taxes on all aluminium and steel imports, but has
exempted products covered by a US, Canada and Mexico trade deal known as
USMCA.

 

Canada has retaliated with some C$60bn ($42bn; £32bn) worth of tariffs on US
goods.

 

Carney said talks with Trump would be "on our terms, not on their terms".

 

"There is a partnership to be had, an economic and security partnership," he
said.

 

"It's going to be a very different one than we've had in the past."

 

 

Live coverage: Carney celebrates historic win in Canada

Carney has touted his experience handling global economic crises as a way to
deal with Trump on tariffs.

 

Before becoming PM in early March, Carney had never held political office.

 

He is a banker by trade, leading the Bank of Canada during the 2008 global
financial crisis before becoming the first non-British person to take on the
top job at the Bank of England from 2013 to 2020.

 

The PM said Canada was the "biggest client for more than 40 states" in the
US.

 

"Remember that we supply them [the US] with vital energy. Remember that we
supply their farmers with basically all their fertiliser," Carney told the
BBC.

 

"We deserve respect. We expect respect and I'm sure we'll get it in due
course again, and then we can have these discussions."

 

Canada and the US, along with Mexico, have deeply integrated economies, with
billions of pounds worth of manufactured goods crossing the borders on a
daily basis, for example, car parts.

 

The introduction of tariffs, which are taxes levied on goods as they enter a
country and paid for by the importer, threatens decades of collaborations
between the nations.

 

Trump has argued tariffs will encourage more Americans to buy
domestically-made goods, which will ultimately boost US manufacturing and
jobs.

 

Trade with allies being 'put to the test'

While America's main opponent in the global trade conflict is China, the
introduction of Trump's blanket, so-called "reciprocal tariffs" on the likes
of the UK and other European countries has led to allies seeking fresh
agreements in response to barriers to trading with the world's largest
economy.

 

Carney, who endorsed UK Chancellor Rachel Reeves during the British general
election, said "one would think" that Canada and the UK could sign a stalled
free trade agreement as part of diversifying trade, but highlighted about
95% of trade between the countries is effectively tariff-free already.

 

"We could expand the level of integration between our countries, like-minded
countries. You think about defence partnerships, and those conversations
have just just begun, so there's a lot that we can do," he added.

 

In a statement congratulating Carney, UK Prime Minister Sir Keir Starmer
said: "I know we will continue to work closely on defence, security, trade
and investment."

 

Carney said the G7 summit hosted by Canada in June would be "very important"
in deciding the future path of the global trade war, adding it would "put to
the test" whether the group of the world's seven most advanced economies -
which includes the US - was still the most "like-minded of like-minded
countries".

 

The summit will occur just before the 90-day pause on some of Trump's higher
tariffs is set to expire.-BBC

 

 

 

Trump calls Bezos as Amazon says no plan to show tariff price rises

US President Donald Trump has called Amazon founder Jeff Bezos after it was
reported that the retail giant planned to detail the cost of trade tariffs
to its customers.

 

Amazon said it had looked into itemising the impact for shoppers using
Amazon Haul, a low-cost site it launched in the US last year to compete with
Shein and Temu.

 

But it said it had decided not to move forward and the idea had never been
under consideration for its main platform.

 

The White House decision to go on the attack over the report is an
indication of the pressure it is facing over its new import taxes, which
analysts say will lead to higher prices for consumers and increase the
chances of a recession.

 

 

At a news conference marking the president's first 100 days in office on
Tuesday, press secretary Karoline Leavitt said she had discussed Amazon's
reported move with the president and argued it represented "another reason
why Americans should buy American".

 

"This is a hostile and political act by Amazon," she said. "Why didn't
Amazon do this when the Biden administration hiked inflation to the highest
level in 40 years?"

 

Trump has ramped up tariffs since re-entering office in January, measures he
argues will boost manufacturing and raise tax revenue for the US.

 

Even after rolling back some of his initial plans this month, Trump's
announcements have left many foreign imports facing new duties of at least
10%, while products from China are facing import taxes of at least 145%.

 

The measures have prompted a sharp drop in trade between the two countries,
and raised fears of supply shocks and shortages of products from baby prams
to umbrellas, items for which China is a major supplier.

 

Some businesses are starting to detail the costs of the measures for
customers, with Shein and Temu, known for business models that ship directly
from Chinese manufacturers to customers, among the online platforms to
already announce price hikes.

 

Merchants from China represent about half of the sellers on Amazon in the
US, according to analysts.

 

Amazon's plan to detail the tariff impact for customers was first reported
by Punchbowl News on Tuesday, citing an anonymous source.

 

Asked about the report, Amazon spokesperson Tim Doyle confirmed that the
company had considered the idea of listing import charges on certain
products for its Amazon Haul store.

 

"This was never approved and is not going to happen," he said in a statement
to the BBC.

 

A source familiar with the Amazon discussions said they had been sparked by
the end of the exemption from tariffs for shipments from China worth less
than $800.

 

The person said the decision not to spotlight the new costs was not a
response to the White House complaints on Tuesday.

 

But asked by reporters about his call with Mr Bezos, Trump said the
billionaire, who stepped down as chief executive in 2021, had "solved the
problem".

 

"Jeff Bezos was very nice. He was terrific. He solved the problem very
quickly. He did the right thing. He's a good guy," he said.

 

Amazon was among the many businesses to donate money to the president's
inauguration and Mr Bezos was given a seat of honour at the event.

 

Mr Bezos, who owns the Washington Post, met Trump after the election and has
praised his push for deregulation and lower taxes.

 

But the two men have had a tense relationship in the past.

 

Trump repeatedly criticised Amazon and the Washington Post during his first
term, while Mr Bezos in 2016 accused Trump of using rhetoric that "erodes
our democracy around the edges" and once joked about blasting him to space
in a rocket.

 

In 2019, Amazon filed a lawsuit against the Pentagon, alleging that it had
been denied a $10bn contract due to Trump's decision to "pursue his own
personal and political ends" to harm Mr Bezos, "his perceived political
enemy".-BBC

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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

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

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

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

Twitter (X):        @bullsbears2010

LinkedIn:           Bulls n Bears Zimbabwe

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



 

 

 


 

INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


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

 


 

 


 (c) 2025 Web:  <http://www.bullszimbabwe.com> www.bullszimbabwe.com Email:
<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
5557 | +263 71 944 1674

 


 

 

 

 

 

 

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