Major International Business Headlines Brief::: 07 February 2025

[Bulls n Bears]

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Major International Business Headlines Brief:::  07 February 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Sudan: Minister of Energy - CNPC Affirms Its Readiness to Check and
Rebuild Khartoum Refinery

ü  South Africa: G20 Provides Opportunity to Drive Developmental Agenda

ü  Somalia's Cabinet Endorses Deals Deal Azerbaijan On Education, Training,
and Energy

ü  Uganda: How Will Govt Meet Shs42bn Pension Funding Gap Amidst
Inefficiencies?

ü  Nigeria: Kaduna Govt Urges Striking Disco Workers to End Blackout in
States

ü  South Africa: Government Puts Shoulder to the Wheel to Build a Thriving
Economy

ü  Liberia: Govt Tightens Fiscal Policies, Cuts Officials' Allowances

ü  Africa: Tax the Super-Rich. We Have a World to Win

ü  Africa: Trump's Funding Cuts Will Hurt South Africa and the Region

ü  Nigeria: Trial of Shell Nigerian Oil Pollution Claims to Begin at the
High Court on 13 February

ü  Liberia: Côte d'Ivoire Cuts Electricity Supply to Liberia By 85 Percent

ü  South Africa: Pretoria Could Lose 120 Beds for People in Desperate Need
of Care

ü  Kenya: KQ Refutes Anti-Semitism Claim As Flyer Denied Boarding

ü  South Africa: Wreck of MV Ultra Galaxy Confirmed As Source of West Coast
Oil Spill

 


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Sudan: Minister of Energy - CNPC Affirms Its Readiness to Check and Rebuild
Khartoum Refinery

Portsudan — Minister of Energy and Oil Dr. Mohi-Eddin Naeem said that during
his recent visit to China accompanying President of the Transitional
Sovereignty Council (TSC) General Abdel-Fattah Al-Burhan, the China National
Petroleum Corporation (CNPC) confirmed its readiness to check the refinery
after the war for reconstruction.

 

This came during his visit to the Khartoum Refinery after its liberation
from the filth of the rebel militia.

 

The was received by the Director General of the Khartoum Refinery, Eng.
Alaa-Eddin, and a number of engineers and technicians.

 

The Minister explained the extent of the vandalism, indicating that many
units inside the refinery were damaged.

 

The Minister revealed the loss of approximately 700,000 barrels of gas oil,
equivalent to the load of a ship, stating that, despite the large losses,
the workers are very enthusiastic about the reconstruction as soon as
possible.

 

SNA.

 

 

 

 

South Africa: G20 Provides Opportunity to Drive Developmental Agenda

South Africa's Presidency of the Group of 20 (G20) presents a unique
opportunity not only for the country itself, but also for the African
continent and the Global South to foster greater economic growth for all.

 

This is according to President Cyril Ramaphosa who delivered the State of
the Nation Address to a joint sitting of Parliament in Cape Town on Thursday
evening.

 

South Africa is the first African country to hold the Presidency of the
world's premier economic cooperation grouping following the admission of the
African Union as a G20 member.

 

For its Presidency, South Africa has chosen the theme: "Solidarity, Equality
and Sustainable Development" which, President Ramaphosa explained,
underscores the "need for cooperation and partnership among the countries of
the world".

 

"It is an opportunity to place the needs of Africa and the rest of the
Global South more firmly on the international development agenda.

 

"Our G20 Presidency is a valuable opportunity for South Africa to advance
efforts towards greater global economic growth and sustainable development,"
he said.

 

'Inextricably bound'

 

President Ramaphosa told the gathering that "Africa remains at the centre of
our foreign policy" and emphasised that Africa's and, by extension South
Africa's, growth and success depends on continental peace.

 

"We continue to work to strengthen the African Union to support the
achievement of peace, development and economic integration on the continent.

 

"We know that our future prosperity is inextricably bound to the prosperity
of the African continent. For Africa to thrive, we must silence the guns on
the continent," he said.

 

For the past 30 years, South Africa has been involved in "restoring
stability" in countries across the continent - most recently in Mozambique
and the eastern region of the Democratic Republic of Congo (DRC).

 

"[We] have been part of the SADC [Southern African Development Community]
peacekeeping mission in Mozambique that has brought relative calm and
stability to the Cabo Delgado province.

 

"The presence of South African peacekeepers in the eastern DRC is testament
to our continued commitment to the peaceful resolution of one of the world's
most intractable conflicts, which has cost millions of lives and displaced
millions of people," he said.

 

Regarding conflict in the DRC, President Ramaphosa urged parties in that war
to "embrace the current diplomatic efforts to find a peaceful resolution,
including honouring the Luanda Process".

 

"We will attend the Joint Summit between SADC and the East African Community
scheduled to take place in Tanzania this weekend, where we will reiterate
our call for a ceasefire and a resumption of talks to find a just and
enduring solution," he said.

 

READ | President Ramaphosa to participate in joint SADC - EAC summit on the
DRC

 

Global solidarity

 

The President reminded South Africans that the country's own democracy was
won from the brutal hands of the Apartheid regime with the help of
international solidarity.

 

He emphasised that this "imposes a duty on us to support the struggles of
those who continue to experience colonialism and oppression" and highlighted
the country's work on the international stage in this regard.

 

"South Africa continues to stand in solidarity with the people of Palestine,
who, having endured decades of illegal occupation, are now experiencing
indescribable suffering.

 

"We continue to participate in the different peace processes seeking to
bring about a just and lasting peace in Ukraine.

 

"South Africa continues to advance its agenda of cooperation and
multilateralism through its membership of the United Nations, African Union,
the Non-Aligned Movement and BRICS group of countries."

 

The President noted that this work and "what we stand for needs to be
explained to many key players, especially to our trading partners and the
many countries and leaders we interact with on the global stage".

 

"With a view to explaining the many positions that we have taken and in
particular the objectives we wish to achieve during our Presidency of the
G20, I have decided to send a delegation of government and other leaders to
various capitals on our continent and across the world.

 

"This delegation will interact with various key players on a variety of
matters that affect South Africa's interests," President Ramaphosa said.

 

SAnews.gov.za.

 

 

 

 

Somalia's Cabinet Endorses Deals Deal Azerbaijan On Education, Training, and
Energy

Mogadishu, Somalia — The Council of Ministers of the Federal Government of
Somalia approved two significant agreements with Azerbaijan aimed at
advancing cooperation in education, training, and energy sectors.

 

The memorandum of understanding, reached between the governments of Somalia
and Azerbaijan, is expected to greatly contribute to the development of
these crucial areas, focusing on enhancing educational opportunities, energy
resources, and skill development.

 

The cabinet meeting, chaired by Deputy Prime Minister and Acting Prime
Minister of Somalia, Mr. Salah Ahmed Jama, featured various reports on
security issues and legislative matters.

 

The agreements mark a significant step forward in strengthening bilateral
ties between the two nations and are expected to foster growth and progress
in Somalia's educational system and energy infrastructure.

 

Shabelle.

 

 

 

Uganda: How Will Govt Meet Shs42bn Pension Funding Gap Amidst
Inefficiencies?

A recent special audit of Uganda's pension and gratuity payroll management
has highlighted inefficiencies and areas for improvement, raising concerns
about the country's ability to meet a significant pension funding gap.

 

Commissioned by the Minister of Finance, the audit sought to validate the
72,285 pensioners and beneficiaries on the government payroll between the
2019/20 and 2023/24 financial years.

 

Of those validated, 84.8% were fully verified, while 14.2% failed to appear
for verification.

 

The audit also uncovered 4,538 unlisted individuals, with 4,057 verified and
included in pension estimates.

 

Despite these efforts, the audit revealed substantial
overpayments--Shs11.393 billion in gratuity overpayments to 1,502
beneficiaries and Shs8.98 billion in pension overpayments to 2,193
individuals across various Ministries, Departments, and Local Governments.

 

Recovering these amounts remains uncertain.

 

Looking ahead to the 2024/25 fiscal year, Uganda's pension and gratuity
estimates project a need for Shs974.664 billion to cover 80,963 pensioners,
including Shs74.245 billion for arrears and Shs33.732 billion for
non-traditional pensioners.

 

This projection reveals a Shs42.894 billion funding gap compared to the
revised 2023/24 budget of Shs931.77 billion.

 

Further complicating matters, the audit found that the total approved budget
of Shs3 trillion for 62 MDAs and 176 LGs saw supplementary funding of
Shs0.77 trillion, but Shs0.088 trillion (2%) was left unutilized.

 

With Shs0.38 trillion (10%) of the released funds unused, inefficiencies in
fund utilization could exacerbate the pension funding challenge.

 

The government now faces the dual challenge of plugging this funding gap
while addressing inefficiencies within the system.

 

Nile Post.

 

 

 

 

 

 

Nigeria: Kaduna Govt Urges Striking Disco Workers to End Blackout in States

The Kaduna State Government has called on the management of Kaduna
Electricity Distribution Company and the National Union of Electricity
Employees (NUEE) to end the blackout affecting Kaduna, Sokoto, Kebbi, and
Zamfara states.

 

Deputy Governor of the state, Dr. Hadiza Balarabe made the call when she
presided over a crucial meeting on Thursday between the Kaduna Electric
management and labour union leaders at the Government House in Kaduna.

 

The parley at the instance of the state government was an effort to end the
ongoing strike by the electricity employees over alleged mass sacking of
workers.

 

Recall that the electricity workers' strike which began midnight on Sunday
had crippled businesses and social activities in Kaduna and other states
under Kaduna electric.

 

However, during the peace meeting, Dr. Balarabe emphasised the severe impact
of the power outage on essential services, particularly healthcare delivery
and business operations across the affected states.

 

She urged the striking workers to restore power supply while negotiations
continue.

 

In their remarks, the management of Kaduna Electric, represented by its
Managing Director, Umar Abubakar Hashidu, and Comrade Rilwan Shehu, deputy
president-general of the Senior Staff Association of Electricity and Allied
Companies, expressed appreciation for the state government's intervention.

 

Kaduna Electric and Labour union leaders pledged to work towards restoring
normal power supply and address the labour crisis.

 

Leadership.

 

 

 

 

South Africa: Government Puts Shoulder to the Wheel to Build a Thriving
Economy

Growing the economy and job creation are at the top of the seventh
administration's agenda, President Cyril Ramaphosa said on Thursday.

 

"We want a nation with a thriving economy that benefits all. To create this
virtuous cycle of investment, growth and jobs, we must lift economic growth
to above three percent," the President said, as he delivered the State of
the Nation Address (SONA) in Cape Town.

 

In the first SONA of the seventh administration, the President said
government has adopted the Medium-Term Development Plan, which sets out a
clear and ambitious programme for the next five years.

 

The actions contained in the plan advance three strategic priorities:
driving inclusive growth and job creation; reducing poverty and tackling the
high cost of living as well as building a capable, ethical and developmental
state.

 

"To achieve higher levels of economic growth, we are undertaking massive
investment in new infrastructure while upgrading and maintaining the
infrastructure we have.

 

"We are engaging local and international financial institutions and
investors to unlock R 100 billion in infrastructure financing. A project
preparation bid window has been launched to fast-track investment readiness.

 

"This includes revised regulations for public private partnerships, which
will unlock private sector expertise and funds," the President explained.

 

Focus on infrastructure

 

Over the next three years, government will spend more than R940 billion on
infrastructure. This includes R375 billion in spending by state owned
companies.

 

"This funding will revitalise our roads and bridges, build dams and
waterways, modernise our ports and airports and power our economy. Through
the Infrastructure Fund, 12 blended finance projects worth nearly R38
billion have been approved in the last year.

 

The aim of the Infrastructure Fund is to use committed government funding to
leverage much higher levels of private sector investment in public
infrastructure. Managed by Infrastructure South Africa, the fund is a
portfolio of blended finance projects and programmes.

 

"These are projects in water and sanitation, student accommodation,
transport, health and energy. Construction of the Mtentu Bridge continues.
This bridge will rise above the river between Port Edward and Lusikisiki,
and will become the tallest bridge in Africa," the President said.

 

The Polihlali Dam will feed 490 million cubic metres of water a year from
the Lesotho Highlands into the Vaal River System, securing water supply to
several provinces for years to come.

 

In addition, government is working with international partners to
revitalises small harbours and unlock economic opportunities for coastal
communities.

 

"We are steadily removing the obstacles to meaningful and faster growth," he
said.

 

Operation Vulindlela

 

As government continues to implement economic reforms through Operation
Vulindlela, the President said a new sense of optimism and confidence in the
economy has been created.

 

"We have made progress in rebuilding and restructuring a number of our
network industries. We are seeing positive results in the improvement of the
functioning of our network industries as well as the investment
opportunities that are opening up and are being taken by investors leading
to job creation.

 

"Working together with business, labour and other social partners we must
now finish this work. Over the coming year, we will initiate a second wave
of reform to unleash more rapid and inclusive growth," the President said.

 

Operation Vulindlela is a joint initiative of the Presidency and National
Treasury to accelerate the implementation of structural reforms and support
economic recovery.

 

The initiative aims to modernise and transform network industries, including
electricity, water, transport and digital communications.

 

"Our immediate focus is to enable Eskom, Transnet and other state-owned
enterprises that are vital to our economy to function optimally.

 

"We are repositioning these entities to provide world-class infrastructure
while enabling competition in operations, whether in electricity generation,
freight rail or port terminals.

 

"We continue with the fundamental reform of our state-owned enterprises to
ensure that they can effectively fulfil their social and economic mandates."

 

READ | New wave of reforms to propel SA economy

 

This includes the work underway to put in place a new model to strengthen
governance and oversight of public entities.

 

"We will ensure public ownership of strategic infrastructure for public
benefit while finding innovative ways to attract private investment to
improve services and ensure public revenue can be focused on the provision
of public services," the President said.

 

Meanwhile, government is in the process of establishing a dedicated
State-Owned Enterprise (SOE) Reform Unit to coordinate this work.

 

Energy Action Plan

 

"The measures we have implemented through the Energy Action Plan have
reduced the severity and frequency of load shedding, with more than 300 days
without load shedding since March 2024.

 

"While the return of load shedding for two days last week was a reminder
that our energy supply is still constrained, we remain on a positive
trajectory.

 

"We now need to put the risk of load shedding behind us once and for all by
completing the reform of our energy system to ensure long-term energy
security."

 

The President said the Electricity Regulation Amendment Act, which came into
effect on 1 January, marks the beginning of a new era.

 

READ | President Ramaphosa signs Electricity Regulation Amendment Act into
law

 

The act sets out far-reaching reforms of the country's electricity sector,
including the establishment of a competitive electricity market.

 

"This year, we will put in place the building blocks of a competitive
electricity market. Over time, this will allow multiple electricity
generation entities to emerge and compete.

 

"We will mobilise private sector investment in our transmission network to
connect more renewable energy to the grid," Ramaphosa said.

 

Rail network

 

The President said Transnet's performance has stabilised and is steadily
improving.

 

"We released a Network Statement in December 2024 which, for the first time,
will enable private rail operators to access the freight rail system

 

"Open access to the rail network will allow train operating companies to
increase the volume of goods transported by rail, while our network
infrastructure remains state owned," the President said.

 

This will ensure that South African minerals, vehicles and agricultural
produce reach international markets, securing jobs and earning much needed
revenue for the fiscus.

 

New cranes and other port equipment are being commissioned to speed up the
loading and unloading of cargo and reduce waiting times for ships at ports.

 

SAnews.gov.za.

 

 

 

 

Liberia: Govt Tightens Fiscal Policies, Cuts Officials' Allowances

In an effort to address current economic challenges and promote fiscal
discipline, the Government of Liberia has announced a series of strict
fiscal rules to be implemented in the 2025 budget year.

 

These measures, which cover salary deductions, fuel allowances, consultancy
services, and state-owned enterprise (SOE) compensation, are aimed at
ensuring more efficient use of government resources amid recent suspension
of U.S. government aid to Liberia through USAID.

 

The new fiscal rules, released by the Ministry of Finance and Development
Planning, include detailed guidelines on salary cuts based on income
thresholds. The salary deductions are designed to progressively scale with
income levels.

 

Employees earning between US$1,001 and US$1,500 will face a 3.5% deduction,
while those earning between US$1,501 and US$2,500 will see a 5% cut. For
individuals earning between US$2,500 and US$5,000, a 7.5% deduction will be
applied, and employees making between US$5,001 and US$7,861 will be subject
to a 10% deduction. For those earning above US$7,861, salary deductions will
align with the ministerial payroll.

 

The Ministry of Finance and Development Planning also announced restrictions
on fuel allowances for government officials. In line with the ongoing
austerity measures, fuel allowances will be limited to specific thresholds
for operational use by various government entities.

 

The Office of the Head of Entity will receive a maximum of 150 gallons per
month, while the Office of the Deputy Head of Entity is allowed a maximum of
125 gallons. The Office of Principal Assistants and other units within the
entity are both capped at 100 gallons per month.

 

In addition to fuel allowances, scratch card allowances for government
officials will also be tightly regulated. The new guidelines specify that
the Office of the Head of Entity will have a monthly scratch card allowance
of up to US$200, while the Office of the Deputy Head of Entity will be
allowed up to US$175. Principal Assistants may use up to US$150 for scratch
cards, and other government units within the entity are allocated a maximum
of US$125 per month.

 

One of the most significant changes outlined in the new fiscal rules
pertains to consultancy services. The government has established a clear
policy on individual-based consultancy contracts, stating that remuneration
for these contracts should not exceed the salary of the principal deputy of
the institution.

 

Furthermore, the rules emphasize that consultancy contracts must be
task-based and include provisions for knowledge transfer to ensure that
civil servants can take over the tasks once the contract expires. In a move
to prevent misuse, consultancy contracts for recurrent tasks within
government institutions will not be approved unless they are for specialized
units, such as the Presidential Delivery Unit or the ECOWAS Secretariat. In
such cases, Presidential approval will be required.

 

The new fiscal rules also address compensation for state-owned enterprises
(SOEs) and public corporations. It is now explicitly stated that board
members of SOEs will not receive sitting fees, and Cabinet Ministers serving
on SOE boards will not be entitled to additional board or sitting fees.

 

Any proposal for board fees must be submitted to the President for approval,
and commissions without oversight boards must submit senior management
compensation proposals for Presidential approval. The government has also
outlined that, in cases where a board has performed exceptionally, any bonus
proposals should be submitted to the President for approval.

 

Another key provision within the fiscal rules concerns vehicle maintenance
and repair. The government has clarified that it will only be responsible
for maintaining and insuring utility vehicles and vehicles assigned to
Presidential Appointees, provided those vehicles were not purchased under
the Fleet Management Program.

 

In such cases, maintenance and insurance responsibilities will fall to the
vehicle's owner. The General Services Agency (GSA) will oversee the
maintenance of government vehicles assigned to Presidential Appointees.

 

These new fiscal rules come at a time when the Government of Liberia is
grappling with economic challenges and the need for fiscal sustainability.
The austerity measures, which aim to create savings for the government,
reflect a commitment to fiscal responsibility and the effective use of
public resources.

 

The Ministry of Finance and Development Planning has indicated that these
rules are part of broader efforts to ensure that Liberia's financial
resources are managed in a way that supports the country's long-term
development goals.

 

As the country prepares for the 2025 budget year, it is clear that these new
fiscal policies will play a critical role in shaping the financial landscape
of Liberia in the coming years.

 

Liberian Observer.

 

 

 

 

 

Africa: Tax the Super-Rich. We Have a World to Win

Nairobi/Bangkok — Why can't there be education for every child? Why can't
there be healthcare for everyone who needs it? Why can't everyone be freed
from hunger and deprivation? Though these are promised to all as rights,
people are repeatedly told that there is no money.

 

The wonderful news is that this is false: there is money, we know where it
is going missing, we know how to get hold of it, and this year brings vital
new opportunities for progress.

 

Across the world, US$492 billion is lost to tax abuse by the rich and
powerful a year: two-thirds, US$347.6 billion, is lost to multinational
corporations shifting profit offshore to underpay tax; one-third, US$144.8
billion, is lost to wealthy individuals hiding their wealth offshore.

 

This revelation, set out in the latest State of Tax Justice report, is
shocking and appalling. But it can and should also be recognised as cause
for hope: we have a world to win.

 

Taxation is technical and complex, and this technical complexity is often
weaponised to claim that any policies to raise revenues from the wealthy
won't work. But expert economic analysis that the G20 has commissioned shows
that wealth taxes would be effective in unlocking vital resources to tackle
poverty and fulfil the Sustainable Development Goals.

 

Indeed, some countries are already taking action to do this. Spain has
successfully introduced a wealth tax on the richest 0.5%. Calculations by
the Tax Justice Network have demonstrated that the world could raise US $2.1
trillion by copying Spain's example.

 

Likewise, the policy framework required to prevent profit shifting by
multinational enterprises is known - a combination that needs to include
them having to register who owns them, having to report on the tax they paid
in each country they operate in, and having to pay tax in the places where
they generate profit.

 

The major challenge then is ultimately less technical and more political.
But even for this political challenge, a path through can be seen.

 

This year, countries finally begin negotiations on a United Nations
Framework Convention on International Tax Cooperation, which will include
"commitments on equitable taxation of multinational enterprises [and]
addressing tax evasion and avoidance by high-net worth individuals and
ensuring their effective taxation."

 

This year, too, momentum will be further boosted by the International
Conference on Financing for Development, hosted 30th June to 3rd July by
Spain, the draft outcome document of which includes commitments to ensuring
that "profit shifting" by multinational enterprises is tackled so that they
"pay taxes to the countries where economic activity occurs and value is
created", and to "strengthening the taxation of high-net-worth Individuals."

 

Taxing the wealthy has been shown to be hugely popular across countries. And
civil society campaigning is picking up pace. Building on the wave of
mobiisation for tax justice worldwide, over forty organisations from across
the world have united a joint campaign to "tax the super-rich".

 

Their common platform calls for:

 

· Implementing ambitious tax rates on the richest people that are high
enough to reduce inequality· Using revenues raised to invest ending poverty,
reducing inequality, and tackling the world's most pressing social and
environmental issues· Ensuring global cooperation to curb illicit financial
flows that allow the super-rich to evade tax responsibility· Shifting
decision-making on taxation to a fair and globally inclusive forum, ensuring
that all countries - particularly poorer ones - have an equal voice

For too long it has been normalised that whilst international law and
national constitutions promise people inalienable rights, the resourcing
needed to realise those rights is denied. But what does it mean for a child
to be promised a notional right to an education if there is no school
nearby, if fees prevent her attending, if there are not enough teachers, or
if the conditions of the school make learning impossible?

 

What does it mean for a person to be promised a notional right to health if
health centres are not staffed with enough nurses and doctors - and
medicines? Fiscal policy is the instrument that makes the promise of rights
a lived reality.

 

The extent of resources that can be deployed, and the measures that can
secure those resources, are not mysteries, they are political choices.

 

Securing the resources needed to deliver on rights will not be easy. The
concentration of wealth has also brought a concentration of power. But that
is another reason why taxing the super-rich in each country across the world
is vital: it won't only raise essential revenue to provide essential
services and prevent the most vulnerable from slipping deeper into poverty;
it will also help restore democracy.

 

Attiya Waris is Professor of Fiscal Law at the University of Nairobi and UN
Independent Expert on foreign debt, other international financial
obligations, and human rights.  IPS.

 

 

 

 

 

Africa: Trump's Funding Cuts Will Hurt South Africa and the Region

Despite Ramaphosa's downplaying of their potential impact, the reality is
that South Africa and the continent are at grave risk.

 

It has been four days since United States (US) President Donald Trump
declared on Truth Social that he would be 'cutting off all future funding to
South Africa' until an investigation into the Land Expropriation Act was
complete. He called the act 'a massive human rights violation' and falsely
accused the South African government of 'confiscating land and treating
certain classes of people very badly.'

 

Trump's claims have since been widely refuted by government leaders and
civil society organisations countrywide, with the notable exception of
AfriForum - which is reportedly behind Trump's misinformation campaign
against South Africa. The Land Expropriation Act, similar to the law of
eminent domain in the US, grants the government the power to acquire private
land for public use as long as fair compensation is provided.

 

South African President Cyril Ramaphosa's response was measured. He said
South Africa was a 'constitutional democracy deeply committed to the rule of
law, justice and equality.' And that apart from PEPFAR (President's
Emergency Plan for AIDS Relief) Aid, which accounts for 17% of the country's
HIV/AIDS programme, 'there is no other significant funding provided by the
United States in South Africa.'

 

Despite Ramaphosa's best efforts to confront Trump's threats and alleviate
public concerns about the potential loss of US funding, the reality is quite
different.

 

In 2024 alone, the US provided US$453 million (R8.5 billion) in direct
funding to South Africa under PEPFAR, with a projected US$439 million (R8.2
billion) in 2025.

 

In 2024, US Agency for International Development (USAID) programmes invested
nearly US$60 million in initiatives to address climate change, promote
gender equality, support community-based violence prevention, and uphold
democratic principles. That is hardly insignificant considering the many
non-governmental organisations in South Africa relying on international
donors, among which USAID has always been a major player.

 

On 4 February, John Steenhuisen, leader of the Democratic Alliance -
formerly South Africa's main opposition party and since 2024, a Government
of National Unity (GNU) member - expressed this heightened sense of concern.
He said it would be a 'tragedy' for South Africa to lose funding over the
misunderstanding, and that the GNU would engage with Trump to clarify the
situation.

 

The decision to cut US funds to South Africa comes just one week after Trump
announced a freeze on all foreign aid. The world is still grappling with the
repercussions, particularly for African countries that have relied on this
support for decades. The crisis is compounded by the rapid dismantling of
USAID over the weekend.

 

Although a US federal court temporarily blocked the freeze last week, Trump
seems uninterested in respecting the limits of his executive power. He has
enlisted Elon Musk to purge whatever he considers 'wasteful' expenditure by
the federal government.

 

Over the weekend, two USAID senior security officials were placed on
administrative leave for denying members of Musk's newly established
Department of Government Efficiency (not even an official government
department) access to USAID information systems.

 

Shortly thereafter, USAID's website went offline. By Monday, USAID
headquarters in Washington DC was closed, and CNN reported that Musk said
the agency was 'beyond repair' and a 'criminal organisation' that should be
'shut down.'

 

Trump and Musk clearly view lifesaving forms of aid - not just to South
Africa but globally - as an unnecessary expense.

 

While concerns were growing about the implications of Trump's potential
re-election for South Africa amid a global rise in authoritarianism and a
retreat from human rights principles, few anticipated South Africa would be
targeted. And no one thought the US would cut funding entirely - not even
drafters of that country's controversial far-right Project 2025.

 

Considering Trump didn't visit Africa once during his first term and made
derogatory statements about the continent, his ignorance about the facts in
South Africa and Africa more generally comes as no surprise.

 

Trump's disinterest in Africa is underscored by a bulletin issued on Sunday
by new Secretary of State Marco Rubio. Titled Bringing U.S. Foreign Policy
Home: Advancing American Interests First, the bulletin talks about building
'a prosperous Western Hemisphere' by prioritising US relations in Central
and South America over those in Africa and the rest of the world.

 

What could this mean for Africa?

 

According to USAID and US State Department data for 2022, every African
country received some form of US aid, ranging from US$125 million to US$500
million. A total or partial withdrawal would hinder economic progress and
exacerbate poverty, worsening humanitarian crises.

 

The US has offered vital financial and technical assistance to countries
facing escalating security challenges. In 2024, programmes supporting
democracy, human rights, governance and security accounted for 10% of
USAID's proposed US$8 billion African aid package. Leading recipients of US
non-humanitarian aid were Nigeria (US$622 million), Mozambique (US$564
million), Tanzania (US$560 million), Uganda (US$559 million), and Kenya
(US$512 million).

 

Discontinuing this funding raises the risk of increased human rights abuses
and diminishing public trust in their governments, making countries
vulnerable to more violent extremism. Terrorist groups often exploit low
levels of citizen trust, security force abuses and underlying poverty and
exclusion as their primary recruitment tools. The potential consequences are
alarming, especially in West African nations, Somalia and Mozambique, where
violent extremist groups cause widespread violence.

 

What could this mean for the US?

 

A partial or total withdrawal from Africa would create a significant void,
allowing authoritarian powers like China and Russia - already increasing
their influence on the continent - to extend their reach. This could
restrict US access to emerging markets, leading to missed trade
opportunities in a region brimming with potential and fostering the
development of policies that counter US interests.

 

Pulling back from Africa might also increase security risks for the US,
creating a vacuum for insurgents to exploit and compromising the safety of
Americans everywhere. The fallout from diminished public health and
humanitarian assistance to Africa would fuel the perception of abandonment
and could further damage long-term diplomatic relations.

 

Many of these risks contrast with US interests, especially considering the
continuing threat of terrorism in Somalia, where al-Shabaab is strengthening
ties with Houthis in Yemen.

 

Withdrawing the US' role in Africa would halt vital development initiatives,
exacerbate instability and poverty, and disrupt geopolitical alignments.
That will weaken America's ability to promote democracy and human rights
while undermining its influence in Africa and standing across the globe.

 

Kelly E Stone, Senior Consultant, Justice and Violence Prevention, ISS
Pretoria

 

ISS.

 

 

 

 

 

Nigeria: Trial of Shell Nigerian Oil Pollution Claims to Begin at the High
Court on 13 February

Oil giant Shell will stand trial  at the High Court in London   from 10.30am
Thursday 13 February to Friday 7 March 2025  over claims it is responsible
for oil pollution which has devastated two Nigerian communities and breached
their right to clean and healthy environment.

 

The trial is a key moment in the legal claim by the Ogale and Bille
communities in the Niger Delta (combined population of 80,000), who have
been fighting UK-based Shell plc and its Nigerian subsidiary SPDC for a
clean-up and compensation since 2015. Each community has suffered from
hundreds of spills, allegedly from Shell's infrastructure, which has left
them without clean water, unable to farm and fish and created serious risks
to public health.

 

Neither community has had a proper clean up and both communities continue to
live with chronic levels of pollution with no end in sight.

 

The case is set to proceed to a full trial in late 2026. If the villagers
win, it will be the first time in legal history that a UK multinational will
have been found to have breached a community's human rights because of
environmental pollution.

 

The February trial, to be heard by Mrs Justice May, is a 'preliminary issues
trial' that will determine the scope of the legal issues to be heard at the
full trial which will take place in 2026. It will consider, among other
issues, two important issues that have wide implications for the future of
all environmental claims:

 

Whether oil pollution by a private company can be a violation of the
communities' fundamental human rights under the Nigerian Constitution and
African Charter on Human and People's Rights.  Importantly, fundamental
human rights claims have no limitation period, meaning Shell would not be
able to evade liability on the grounds the communities were unable to bring
their claims within a narrow timeframe.

Whether Shell can be held liable for damage resulting from oil theft from
pipelines, known as "bunkering," or for the waste produced as a result of
illegal artisanal refining of spilled or stolen oil. Shell blames much of
the pollution in the Niger Delta on these activities, but the communities
say Shell has repeatedly failed to take basic steps to prevent pollution
caused by widespread oil theft. 

Shell says it has no legal responsibility for the chronic pollution caused
in the Niger Delta by its subsidiary, the Shell Petroleum Development
Company of Nigeria Ltd (SPDC) and has offered the Ogale and Bille
communities no remedy or compensation.

 

Shell continues to try to sell off its onshore operations in Nigeria having
made billions of pounds of profit over more than 70 years and without a
clear plan for cleaning up the environmental devastation it has caused.

 

The Bille and Ogale communities are represented by in the trial by Leigh Day
international team partners Daniel Leader and Matthew Renshaw who have
instructed Fountain Court's Anneliese Day KC, Matrix's Phillipa Kaufmann KC,
Anirudh Mathur and Catherine Arnold, 2 Temple Gardens' Alistair McKenzie and
Blackstone's George Molyneaux.

 

Representatives of the Bille and Ogale communities, King Okpabi and Chief
Bennett, will attend the trial and are available for interviews on the
effect the oil pollution has had on their communities. King Okpabi will be
available for interviews outside the High Court on the first day of the
trial, before the hearing begins.

 

Notes 

 

Since a Supreme Court ruling in 2021, Leigh Day has been preparing for the
trial on behalf of the two communities as well as the thousands of
individuals the firm represents. Shell has served its legal Defence, arguing
that it has no legal responsibility for any of the pollution.

Regardless of the Court's decision on these preliminary issues, there will
be a full trial of the Bille individual claims (and likely the Bille
Community claim) in late 2026. The parties have agreed a case management
order which sets out the next steps leading up to the 2026 trial, including
two further case management conferences, the identification of lead
claimants, standard disclosure of documents all by late 2025.

The Ogale and Bille communities in the Niger Delta (estimated combined
population of 80,000) have been fighting for justice against the British oil
and gas giant, Shell plc, for ten years. They simply seek to ensure that the
oil pollution which has devastated their communities is cleaned up to
international standards (which Shell concedes they are legally obliged to
do) and that compensation is provided for their loss of livelihoods and the
destruction of their way of life, given that these rural communities'
ability to farm and fish has been largely destroyed.

On 12 February 2021, the UK Supreme Court unanimously ruled that there was a
"good arguable case" that Shell plc, the UK parent company, was legally
responsible for the pollution caused by its Nigerian subsidiary and that the
case would proceed in the English courts. The judgment represented a
watershed moment in the fight for corporate accountability. The Supreme
Court confirmed in both Okpabi v Shell and its earlier 2019 decision in
Lungowe v Vedanta (environmental pollution from a Zambian copper mine) that
parent companies of multinational companies in the UK can be held legally
responsible for harms committed by their foreign subsidiaries, and the scope
of that potential liability is much wider than previously understood.

Shell has shown no interest in providing remedy to the Ogale and Bille
communities at a time when they are making unprecedented global profits ($40
billion in 2022). The case is proceeding to trial to determine whether
Shell's parent company in London, as well as its Nigerian subsidiary, are
legally responsible for the harm caused to the communities in Nigeria. 

 

 

 

 

 

Liberia: Côte d'Ivoire Cuts Electricity Supply to Liberia By 85 Percent

Monrovia — Liberians are bracing for severe power outages as the Liberia
Electricity Corporation (LEC) announces a drastic reduction in electricity
supply due to an emergency directive from its primary power supplier,
Compagnie Ivoirienne d'Électricité (CIE) of Côte d'Ivoire.

 

CIE, which supplies a significant portion of Liberia's electricity under a
Power Purchase Agreement, has cut power delivery by 85%, citing production
challenges and urgent maintenance activities. As a result, the supply from
CIE to LEC has plummeted from 50 megawatts (MW) to just 7.5MW, exacerbating
power shortages in Monrovia and surrounding areas.

 

With this sudden reduction, thousands of households, businesses, and
essential services in Liberia's capital and nearby regions will experience
prolonged blackouts beyond the usual load-shedding schedule.

 

"This adjustment is necessary to ensure the long-term stability and
efficiency of operations," LEC stated, acknowledging the hardship the
situation will cause.

 

To address the crisis, LEC says it activated its thermal power plant to
supplement the shortfall. However, officials warn that this measure will
only provide limited relief, as water levels at the Mt. Coffee Hydropower
Plant remain critically low, further hampering electricity generation.

 

Despite these efforts, the energy gap remains substantial, and authorities
are urging the public to prepare for extended periods without power while
the situation is being managed.

 

The news has sparked concerns among businesses and residents already
grappling with inconsistent electricity supply. Many fear the impact on
daily life, economic activity, and essential services such as hospitals and
communication networks.

 

LEC has assured the public that it is in constant communication with CIE to
resolve the issue and will provide timely updates as more information
becomes available.

 

"We sincerely apologize for the inconvenience and appreciate the patience
and cooperation of all our customers during this difficult period," the LEC
statement read.

 

Meanwhile, consumers are advised to conserve power, use alternative energy
sources where possible, and stay informed about further developments.

 

Liberian Investigator.

 

 

 

 

 

South Africa: Pretoria Could Lose 120 Beds for People in Desperate Need of
Care

The special needs housing units were funded by the government, yet Yeast
City Housing's state-owned creditors want the units to be sold off for cash.

Yeast City Housing, a social housing institution in Pretoria currently in
business rescue, risks losing at least 120 beds designed to cater for
vulnerable people, including people who are terminally ill, elderly people,
female victims of violence and people with mental health conditions.

 

The business rescue practitioners and state-owned creditors want the
properties to be sold for cash, because Yeast City Housing (YCH) is not
compliant with the Social Housing Act, they say.

 

Yet the units have been funded by the government through, among other
entities, the Gauteng Partnership Fund (GPF), which is one of YCH's
creditors, and the Social Housing Regulatory Authority (SHRA).

 

Several of Yeast City Housing's (YCH) special needs units were started as
pilot projects with funding from state entities. YCH owns thousands of
social housing units in addition to the special needs units. But since the
Social Housing Act of 2008, which does not make provision for special needs
housing, by law the special needs housing units must be separated from YCH's
social housing stock.

 

"The state has an obligation towards vulnerable communities," said a source
familiar with the matter. "If social housing policy changes, then surely
these assets should not be lost. The units were funded by government
entities who now want them to be sold."

 

The Tshwane Leadership Foundation (TLF), a non-profit organisation which
founded YCH in 1997, was given an opportunity to purchase the properties
from YCH. But according to TLF's CEO Wilna de Beer, one property housing 36
elderly people who live on SASSA grants and are unable to pay rent, is
already in the process of being sold to a private company, because TLF was
unable to raise sufficient funds in time. The current residents are being
moved to another of YCH's properties.

 

TLF would need to raise about R5.4-million to purchase the remaining special
needs facilities. "We can raise the money, but we need time," said De Beer.
TLF will make offers on the properties and then ask for time to raise the
funds.

 

De Beer noted that TLF has invested millions of rands in the properties
through renovations, increasing the value of the properties, and several of
the properties were donated to TLF and later transferred to YCH.

 

GroundUp visited two of YCH's special needs housing facilities in Pretoria
from which TLF runs social care programmes. One facility has 20 beds for
palliative and frail care, catering for elderly people and people who are
terminally ill.

 

We also visited a facility with 20 beds for people living with chronic
mental conditions. Many of them have received psychiatric treatment at state
facilities, but cannot live alone and are unable to return to their family
homes.

 

Programme manager Nompumelelo Nhlapo said that some residents have been
staying there for more than 20 years.

 

"This is their home. This is the only home they have. They have bonded with
this place," said Nhlapo.

 

Most of the residents, should they be evicted, will be homeless.

 

Alternatives to selling off

 

YCH is an accredited social housing institution. Its social housing units
were subsidised by and are regulated by the SHRA. Social housing units by
law are only to be made available for rental to households that earn less
than R22,000 a month.

 

The special needs housing units owned by YCH are not social housing and
therefore, according to YCH's creditors and business rescue practitioners,
are not compliant with the Social Housing Act.

 

YCH placed itself in voluntary business rescue last year after failing to
pay its loans to the GPF and the National Housing Finance Corporation
(NHFC), both of which are government entities that provide loans for social
housing projects. This was mainly due to an ongoing rental boycott at
Thembelihle Village, its largest housing facility with 738 units. Evictions
are currently underway to put an end to the boycott.

 

According to the business rescue plan, which has been approved by the NHFC
and GPF, the special needs units must be sold for cash. The business rescue
plan was voted on by the YCH's creditors and the company's board had no say.

 

EngagedBT, the appointed business rescue practitioner, says that because of
the non-compliance with the Social Housing Act, YCH could lose its
accreditation as a social housing institution if it does not separate the
120 special needs housing units from its social housing stock, either by
ring-fencing them or selling them to another entity.

 

The creditors have opted for the units to be sold.

 

SHRA spokesperson Lesego Diale confirmed to GroundUp that by law, the units
should be separated from the social housing stock. Although the SHRA did
fund some of the units, the properties "do not fall within the mandate of
the social housing programme".

 

"The presence of special needs housing within SHRA's portfolio is a
historical matter," said Diale.

 

A source familiar with the matter says that although the government's policy
has changed since the properties were first funded by the SHRA and GPF,
Yeast City Housing has been fully compliant with the original funding
provisions for special needs housing and should not be called non-compliant.

 

There is also no debt on the special needs housing units.

 

There are various ways to ring-fence the properties without selling them.
The source believes that the creditors should have been considered
alternatives, such as allowing Yeast City Housing to ring-fence the
properties within a new subsidiary, which would not incur substantial costs
for the company.

 

This has been done before by Communicare, the Western Cape's largest social
housing institution, which like Yeast City Housing is a non-profit public
benefit organisation. Communicare holds social housing units, special needs
units and open-market units.

 

Communicare CEO Anthea Houston told GroundUp that although there has been no
pressure from the SHRA, they are in the process of ring-fencing the stock
into three different portfolios under wholly-owned subsidiaries.

 

Because Communicare and its subsidiaries are public-benefit organisations,
they are exempt from transfer duties, although there are conveyancing fees
and taxes related to improvements made to the properties.

 

Another alternative would be to donate the properties to Tshwane Leadership
Foundation, although this would incur transfer fees as TLF is not a
subsidiary of YCH.

 

The GPF, responding to GroundUp's questions, said the business rescue
process "limits the GPF's ability to intervene further". This is not
strictly true, as the GPF voted in favour of the business rescue plan and,
according to EngagedBT, is regularly consulted by the business rescue
practitioners.

 

The NHFC did not respond to our questions.

 

GroundUp.

 

 

 

 

 

Kenya: KQ Refutes Anti-Semitism Claim As Flyer Denied Boarding

Nairobi — Kenya Airways has denied claims that it denied the boarding of
three passengers in South Africa based on how they appeared.

 

This comes after a video circulating online showed three passengers alleging
that they were denied entry on a KQ plane at O.R. Tambo International
Airport in Johannesburg based on how they appeared.

 

"We take all allegations seriously and conduct thorough investigations to
address inappropriate behavior, always adhering to aviation and industry
best practices," KQ stated.

 

In a statement, the national carrier clarified that the three passengers
were observed to be behaving disruptively and appeared to be intoxicated,
which sabotaged the safety of the other guests and violated the
international civil aviation regulations.

 

"Our staff addressed three passengers for their behavior, which is in line
with our commitment to ensuring the safety and comfort of all our guests,"
it stated.

 

"Our personnel explained to them that our safety management protocol and
international civil aviation regulations require us not to board any
passenger who appears to be intoxicated or disruptive," it added.

 

KQ has further assured that the four passengers were to be allowed to board
the next flight once they were deemed safe to fly.

 

"Although the guests expressed dissatisfaction and suggested they were being
profiled because of their religion, this was not the case, as the rest of
their group traveled on the same flight," it stated.

 

Kenya Airways has emphasized its zero-tolerance policy against any form of
discrimination, harassment, or bullying based on race, sex, disability,
gender, age, beliefs, or socio-economic background.

 

Capital FM.

 

 

 

South Africa: Wreck of MV Ultra Galaxy Confirmed As Source of West Coast Oil
Spill

Clean-up operations are continuing on West Coast beaches after the recent
oil spill that has now been confirmed as originating from the wreck of MV
Ultra Galaxy.

 

A workforce of some 180 people in 12 teams are cleaning beaches along a 40km
section of coastline and are making "steady progress", according to a
statement by the South African Maritime Safety Association (SAMSA) this
week.

 

The organisation said the oil had leaked during the complex wreck removal
operation now underway at the Duiwegat site just south of Brand se Baai,
where the stricken vessel ran aground in severe weather in July. It broke up
just days later after only eight tons of bunker oil had been removed,
spilling more than 500 tons of fuel and oil and a full cargo of fertiliser
into the sea.

 

Shanghai Salvage Co, also known as China Ocean Engineering Solutions
Limited, was appointed last year to undertake the wreck removal operation.

 

SAMSA said it had immediately activated its pollution response plan in
response to the latest spill. This had included a full survey of the
affected areas to assess the extent of the pollution.

 

Preliminary assessments indicated that the spill had several areas

 

·Tormin mineral sands mine: ramps 3, 4 and 7,

 

· small parts of the Transhex mining area,

 

· Robbe Eiland [Seal Island],

 

· Papendorp, 700m south of the mouth of the Olifants River,

 

· Strandfontein North: patchy coverage, and

 

· Strandfontein South: Kommetjie and Die Hel.

 

Doringbaai had been surveyed and remained clear.

 

"SAMSA emphasises that during operations of this nature, the risk of oil
escaping is anticipated, and robust contingency measures are always in
place. SpillTech, a dedicated spill management company, has been on site
from the onset of the removal operation to handle such incidents promptly
and effectively."

 

Veteran West Coast conservationist Suzanne du Plessis, who was one of the
first to alert authorities to the oil spill, said on Thursday that she was
impressed by the immediate response. "The clean-up operation began within
hours and the teams have been consistent."

 

Easterly winds had pushed the oil slick offshore and a red tide had arrived.

 

"We'll have to wait and see with the next cold front or northerly wind if
there is still any oil floating around," she said.

 

Cape Nature confirmed that no oiled birds had been found on the affected
beaches or at the 45,000-strong Cape Gannet colony at Bird Island in nearby
Lambert's Bay - a site initially regarded as of "primary concern". Also, the
biologically critical Olifants River estuary had not been impacted.

 

SAMSA said that since the wreck removal operation began in December, just
over 4,200 tons of material had been successfully removed from the seabed.
The wreck had been transported by tug and barge for safe disposal in
Saldanha Bay.

 

In accordance with its waste management plan, salvaged steel was processed
in Cape Town. Other hazardous materials was being handled at the Vissershok
hazardous waste disposal site.

 

Any sightings of affected wildlife or oil residue should be reported
urgently to SAMSA on 021 938-3310.

 

GroundUp.

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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

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

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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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