Major International Business Headlines Brief::: 28 February 2025

[Bulls n Bears]

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Major International Business Headlines Brief:::  28 February 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Africa: Former African Heads of State Sign Cape Town Declaration Calling
for Urgent Debt Relief for Developing Countries

ü  Namibia: Swakop Uranium Employees Enticed to Invest Through Voluntary Pay
Deductions

ü  Kenya: Ethiopia to Use Lamu Port to Move Imports, President Ruto Says

ü  Congo-Kinshasa: X Influencer Misleads On DR Congo Offer of Rare Minerals
to U.S., EU

ü  Nigeria: Ogoni Women Reject Planned Resumption of Oil Extraction in
Ogoniland

ü  Africa: 'AI Not a Substitute for Human Intelligence' But Innovations Are
Reshaping Global Surgery

ü  Namibia Addresses Four of 13 Greylisting Issues

ü  Ethiopia: Kessem Sugar Factory Announces Mass Layoffs Affecting Over
1,100 Employees, Sparking Protests Among Workers Already Struggling With
Displacement Due to Earthquake

ü  Nigeria: Govt Pledges to Strengthen Investment, Trade Opportunities With
UAE

ü  Nigeria: Govt Injects N107bn Into Pension Protection Fund to Support
Low-Income Retirees

ü  UK-US trade deal could mean tariffs 'not necessary', says Trump

ü  Trump says US will impose additional 10% tariff on China

ü  Goldman Sachs pledges £1.5m to support apprentices

ü  Trump says 25% tariffs on EU will be announced soon

 


 <mailto:info at bulls.co.zw> 

 


 

Africa: Former African Heads of State Sign Cape Town Declaration Calling for
Urgent Debt Relief for Developing Countries

Cape Town, South Africa — Eight former African Heads of State and Government
have signed the Cape Town Declaration, calling for critical debt relief for
highly indebted nations and advocating for lower borrowing costs for all
developing countries. The declaration was signed at the launch of the
African Leaders Debt Relief Initiative (ALDRI), which reflects the leaders'
commitment to rallying for a comprehensive debt relief strategy for
countries in dire financial situations.

 

The launch of the initiative took place on the sidelines of the first G20
Finance Ministers' meeting in Cape Town, where the South African G20
Presidency has made debt sustainability a central focus. The declaration
also aligns with the African Union's Agenda 2063, underscoring the
continent's long-term development aspirations.

 

 

The African Leaders Initiative on Debt Relief is led by a distinguished
group of former African leaders.

 

Olusegun Obasanjo, Former President of Nigeria, serves as the Chair of the
initiative.

 

Joyce Banda, Former President of Malawi, brings her experience in governance
and economic policy.

 

Jakaya Mrisho Kikwete, Former President of Tanzania, adds his expertise in
international relations and economic diplomacy.

 

Dr. Ameenah Gurib-Fakim, Former President of Mauritius, contributes her
knowledge of sustainable development and scientific innovation.

 

Macky Sall, Former President of Senegal, offers insights into economic
reforms and debt management.

 

Nana Addo Dankwa Akufo-Addo, Former President of Ghana, provides leadership
in financial restructuring efforts.

 

Hailemariam Desalegn, Former Prime Minister of Ethiopia, lends his
experience in multilateral cooperation and economic governance.

 

Yemi Osinbajo, Former Vice President of Nigeria, brings his expertise in
economic planning and fiscal policy.

 

The signatories called for intensified international cooperation to address
the debt crisis and emphasized the urgent need to reform the global
financial architecture to better support developing countries.

 

"Africa is facing unsustainable debt burdens. It is crucial that we come
together to find a solution to this crisis. Africa's future is intertwined
with the world's future, and we must work to resolve the debt crisis in
order to drive sustainable economic development across the continent. South
Africa's commitment to prioritizing debt relief and collaborating with
nations to address the root causes of high-cost debt is a welcome one," said
Olusegun Obasanjo, Former President of Nigeria.

 

The Debt Crisis and the Need for Action

 

In 2023, low- and middle-income countries collectively spent $1.4 trillion
servicing foreign debt, with interest payments reaching a staggering $406
billion. Africa, in particular, is facing disproportionately high borrowing
rates, making it harder to invest in the continent's growth and development.

 

As the 2025 G20 Summit approaches, the Cape Town Declaration offers a timely
opportunity to focus attention on Africa's debt crisis and the broader
challenges faced by developing nations, including health, education, food
and energy insecurity, and the environment.

 

The African Leaders Debt Relief Initiative continues to advocate for
policies that promote economic resilience and sustainable growth across the
continent. The signatories are committed to working collaboratively with
international stakeholders to implement these crucial reforms, ultimately
driving forward Africa's development agenda.

 

Leaders' Calls for Action

 

Macky Sall, Former President of Senegal, emphasized the urgency of debt
relief, stating:

 

"African countries are burdened with disproportionately high borrowing rates
and debt costs, often requiring repayment within a short timeframe. A
comprehensive solution to the debt crisis must be a priority for all. The
resolution of this global issue benefits everyone, everywhere."

 

Joyce Banda, Former President of Malawi, highlighted the financial
challenges facing developing nations:

 

"Countries on the frontlines of the development crisis are the same ones
grappling with record levels of debt. By 2030, these nations will need to
invest up to $6.4 trillion annually to achieve sustainable development.
However, this goal remains unaffordable given their overwhelming debt
servicing obligations."

 

Jakaya Mrisho Kikwete, Former President of Tanzania, pointed to the impact
of global economic trends:

 

"The debt crisis has been worsened by rising interest rates and a stronger
dollar, making it increasingly difficult for African countries to manage
dollar-denominated debt. A global solution to this crisis is not only vital
for our economies but will also benefit everyone around the world."

 

Nana Addo Dankwa Akufo-Addo, Former President of Ghana, stressed the need
for a fair debt relief framework:

 

"Ghana's situation underscores the need for debt relief that is both fair
and needs-based. Countries in debt distress must receive the necessary
support to invest in sustainable solutions for their people."

 

Dr. Ameenah Gurib-Fakim, Former President of Mauritius, addressed the
vulnerability of small nations:

 

"The Global South has suffered under crippling debt for far too long. This
moment, and the years ahead, must mark a turning point. We must unite to
find a global solution to this global crisis. Leadership from the Global
South is essential in advocating for a comprehensive debt relief mechanism.
Small Island Developing States (SIDS), like Mauritius, are particularly
vulnerable to the climate crisis. Many of these nations are drowning in debt
as they are forced to address the devastating impacts of climate change and
rising sea levels."

 

Hailemariam Desalegn, Former Prime Minister of Ethiopia, called for
multilateral cooperation:

 

"Multilateral cooperation between countries, multilateral banks, the private
sector, and other stakeholders is essential for reforming the global debt
system. Africa must have a voice in shaping these reforms. We fully support
the G20 presidency and the African Union's efforts to find solutions to the
debt crisis."

 

Yemi Osinbajo, Former Vice President of Nigeria, underscored the need for
urgent action:

 

"More than half of African countries now allocate more funds to interest
payments than to healthcare, leaving them with little fiscal capacity to
invest in sustainable development. Immediate action is critical, and a
breakthrough must be reached as the G20 meets this year. South Africa's
presidency of the G20 offers a vital opportunity to forge a strong, unified
stance on debt relief."

 

The Cape Town Declaration sets the stage for renewed global attention on
Africa's debt crisis, reinforcing the urgency for action ahead of key
international financial discussions.

 

Capital FM.

 

 

 

 

Namibia: Swakop Uranium Employees Enticed to Invest Through Voluntary Pay
Deductions

NAMITVEST Investment Holdings and Swakop Uranium signed a payroll deduction
agreement on Thursday 27 February in Swakopmund for employees to invest in
NAMITVEST, an instrument floated by JTT Public Company.

 

The initiative is expected to benefit members and ex-members of the
Mineworkers Union of Namibia (MUN), along with their dependents, while also
bringing advantages to Swakop Uranium.

 

The MUN chairperson, Poco-Key Mberiuana, said that cooperation is the
cornerstone of progress. "This agreement is an example of how collaboration
between unions, employers, and investment entities can create opportunities
that benefit everyone involved," he said.

 

 

He emphasised how the MUN has continuously been committed to advocating for
the rights and welfare of its members, stating that the partnership with
NAMITVEST and Swakop Uranium is a demonstration of that commitment.

 

"By working together, we have created a platform that not only aligns with
the financial goals of our members but also strengthens the relationship
between employees and their employer," said Mberiuana.

 

Swakop Uranium, employees will be able to purchase shares through automatic
salary deductions, ensuring seamless payment processing. Swakop Uranium will
manage the collection process on behalf of NAMITVEST, making it easier for
employees to invest in shares without the burden of manual payments.

 

The Vice President of Human Resources at Swakop Uranium, Patrick Chizabulyo,
highlighted the impact the agreement would have on the mine's mandate.

 

"Opportunities which allow our employees and their families to generate
wealth through investing their money in NAMITVEST are most welcome and very
well supported," stated Chizabulyo.

 

The initiative introduces the first large-scale payroll deduction system for
NAMITVEST, enabling employees to secure shares ranging from N$15,000 to
N$25,000.

 

The signing ceremony formalizes this partnership and highlights its benefits
for employees and stakeholders alike.

 

NAMITVEST's principal officer, Jason Kasuto said that the signing of the
agreement marks a significant milestone in their commitment to financial
empowerment and economic inclusion.

 

"The signing of the payroll deduction agreement between NAMITVEST and Swakop
Uranium represents a transformative step forward in ensuring that employees,
particularly members of the Mine Workers Union of Namibia, have direct
access to long-term wealth-building opportunities," said Kasuto.

 

Since the launch of NAMITVEST, a broad-based empowerment company, owned by
subscribing members and ex-members of the MUN, it holds 25% shareholding in
Namibia Mineworkers Investment Holdings Company (NAMMIC Holdings).

 

NAMMIC has grown significantly over the past 27 years and holds interests
across sectors such as, financial services and banking, mining, health,
tourism and hospitality and property.

 

Kasuto did not clarify what the other 75% of the underlying assets consists
of or what the investment risks are for the participating employees.

 

Representatives of MUN, NAMITVEST and Swakop Uranium at the signing of the
pay deduction agreement on Thursday 27 February 2025.

 

Namibia Economist.

 

 

 

 

Kenya: Ethiopia to Use Lamu Port to Move Imports, President Ruto Says

Lamu — The Port of Lamu is set for more activity following agreements
between Kenya and neighboring countries to increasingly use it as a regional
transshipment hub.

 

President William Ruto has said he recently reached an agreement with
landlocked Ethiopia to use the port to move imported goods to the
hinterland.

 

"We have agreed with the Government of Ethiopia to start using Lamu Port so
that we can create more jobs and grow the economy of this region," he said.

 

He made the remarks when he launched the first Kenya-Off Grid Solar Access
Projects in Ndau Island, Lamu East Constituency, Lamu County, on Thursday.

 

 

President Ruto said he would soon host regional leaders at the Lamu Port,
Kenya's second biggest after the Port of Mombasa.

 

It is also a major component of the Lamu Port-South Sudan- Ethiopia
Transport (Lapsset) corridor, which has been in development since 2012.

 

The President announced that the first three modern berths at the Lamu Port
are complete and ready for use.

 

He urged Kenyans, especially those from the Coast region, to take advantage
of the facility to export and import their goods from the port.

 

Further, he said the government has set aside KSh1.7 billion to compensate
fisherfolk who were displaced to facilitate the construction of the port.

 

Present at the functions were Governors Issa Timamy (Lamu) and Godhana
Dhadho (Tana River).

 

Later, President Ruto launched the 468-unit Mokowe Affordable Housing
Project in Lamu West Constituency, which he said will create job
opportunities for young people in the area.

 

On electricity, he said the National Government will connect 7,000
households in Lamu County to power at a cost of KSh600 million in this
financial year.

 

The President reiterated that the discriminatory practices that denied parts
of the country development resources have ended, and every part of Kenya
must belong.

 

He urged Lamu residents to shun tribalism, which can ferment hatred and
division among the diverse communities living in the county.

 

In Tana River County, President Ruto commissioned the Bura Gravity Canal
(Korakora-Nanighi), which will expand the acreage under irrigation from
6,000 to 25,000 acres.

 

"Seventy per cent of the funding for this project came from the government
because we recognise the importance of agriculture in producing food to
eradicate hunger," he said.

 

The President pointed out that the government is giving priority to
investment in agriculture to make Kenya food secure and eliminate the shame
of hunger.

 

He said the plan will not only create wealth for farmers but also reduce
reliance on imports that strain the country's foreign exchange reserves.

 

At the same time, President Ruto urged Kenyans to reject politicians
dividing the country along tribal lines.

 

He said such leaders have resorted to outdated tribal politics because they
lack a plan that could take the country forward.

 

"We will not allow people who have no plan, vision or agenda for the country
to derail us with negative ethnicity and useless politics that divides the
nation," he said.

 

The President went on: "We must stay united. We are one people and one
nation with a common destiny."

 

Also in attendance were Cabinet Secretaries, Principal Secretaries, MPs, and
MCAs, among other leaders.

 

Capital FM.

 

 

 

 

 

 

Congo-Kinshasa: X Influencer Misleads On DR Congo Offer of Rare Minerals to
U.S., EU

African Hub, an X content creator with over 800K followers, misquoted
Tshisekedi, claiming he requested the U.S. military intervention in exchange
for control over his nation's vast resources.

 

This is misleading.

 

African Hub's post went viral. It seems to have originated from Tshisekedi's
Feb. 20 interview with The New York Times.

 

However, in that interview, Tshisekedi did not offer the U.S. control over
DRC's mineral resources, nor did it suggest any military intervention.

 

The DRC leader told the newspaper that he hoped international pressure
against Rwanda, coupled with investments from Western countries, would bring
stability to his war-ridden nation.

 

Tina Salama, the DRC presidential spokesperson, clarified the issue on X in
a Feb. 23 post.

 

"Setting the record straight: President Tshisekedi invites the USA, whose
companies source strategic raw materials from Rwanda -- materials looted
from the DRC and smuggled through Rwanda while our populations are massacred
-- to purchase them directly from us, the rightful owners," Salama wrote.

 

 

Salama's statement directly contradicts the claim made by African Hub.

 

Eastern DRC is facing a violent armed conflict with the Rwanda-backed M23
rebels, who occupy significant parts of the country.

 

DRC is rich in vital minerals, including coltan and cobalt, which are
crucial for high-tech industries such as electronics and electric vehicles.

 

In her X post, Salama further emphasized that Tshisekedi's offer was not
exclusive to the U.S. but was extended to European countries as well:

 

"And it's not just the Americans, it's also offered to Europeans and all the
receivers of our resources who get their supplies from Rwanda."

 

In February 2024, the European Union negotiated a $935 million deal with
Rwanda for access to minerals such as tin, tungsten and gold.

 

Tshisekedi has accused Rwanda of plundering DRC's resources using the M23
rebels. European involvement is facilitating this illegal trade, Tshisekedi
said.

 

In response, the EU has halted its deal with Rwanda and instead is
considering sanctioning Kigali for its role in the DRC war.

 

On Feb. 25, the United Kingdom imposed sanctions on Rwanda and paused
bilateral financial aid, signaling increased international pressure. As part
of the sanctions, the U.K. said it would suspend defense training assistance
to Rwanda and review export licenses for the Rwandan Defense Force.

 

Additionally, the U.S. Treasury Department imposed sanctions on James
Kabarebe, a Rwandan official accused of facilitating support for M23 rebels.

 

Conclusion: Tshisekedi invited international companies to buy minerals
directly from the DRC. He did not request military intervention or promise
control over DRC natural resources. His spokesperson clarified that the
mineral deal was open to multiple international players and was aimed at
combating Rwanda's illegal resource trade through M23 rebels.

 

VOA.

 

 

 

 

 

 

Nigeria: Ogoni Women Reject Planned Resumption of Oil Extraction in
Ogoniland

President Bola Tinubu recently met with Ogoni leaders to discuss the
recommencement of oil operations, which had been suspended since 1993 due to
widespread unrest caused by environmental pollution.

 

A coalition of 17 Ogoni women groups in Rivers State has opposed the federal
government's proposed resumption of crude oil extraction in Ogoniland.

 

The coalition, comprised of thousands of Ogoni women, made its position
known in a news conference in Port Harcourt on Wednesday.

 

It insisted that implementing the Ogoni Bill of Rights must be a
precondition for oil-related activities in the area.

 

President Bola Tinubu recently met with Ogoni leaders to discuss the
recommencement of oil operations, which had been suspended since 1993 due to
widespread unrest caused by environmental pollution.

 

The initiative is part of efforts to increase the nation's oil production to
over two million barrels per day by December.

 

 

Grievances

 

Speaking on behalf of the coalition, Barileloo Patricia, programme
coordinator, gender and livelihood at Lekeh Development Foundation,
criticised the government's approach.

 

She condemned the plan to resume oil extraction after 30 years without first
addressing the long-standing environmental devastation in Ogoniland.

 

"It is disconcerting that, amid the rush to resume oil extraction in
Ogoniland, the concerns outlined in the Ogoni Bill of Rights - which led to
the suspension of oil extraction - have not been addressed," Mrs Patricia
stated.

 

She explained that the Ogoni Bill of Rights, adopted in 1990, was a
declaration of the Ogoni people's demand for environmental protection and
self-determination.

 

According to her, the proposed resumption of oil activities was destined to
fail as justice has not yet been secured for the countless families who lost
lives, livelihoods, and property in the 1990s crises.

 

"The atrocities committed against the Ogoni people by the Nigerian security
forces remain one of the worst attacks on an indigenous population in
Nigeria's history.

 

"Those responsible for genocide and human rights abuses against unarmed
populations have never been brought to justice, despite openly boasting
about their actions.

 

"For most Ogonis, the events of the 1990s remain an open and painful wound,
still awaiting healing through truth and justice," Mrs Patricia added.

 

Ogoni clean-up

 

Also speaking, Lezina Ntetep, the coordinator of Eedee Ladies of Tai,
questioned the government's decision to restart oil exploration while the
clean-up of Ogoni's polluted sites remains incomplete.

 

She reminded the government that in 2012, it established the Hydrocarbon
Pollution Remediation Project (HYPREP) to implement the 2011 UN Environment
Programme (UNEP) Report on oil contamination in Ogoniland.

 

Mrs Ntetep said it was a deep concern that the government was pushing for
oil resumption when the environmental damage from past extraction remained
unaddressed and that the UNEP recommendations were yet to be fully
implemented.

 

"How can a site supposedly being cleaned up be deemed fit for a full-scale
oil extraction, with all the pollution that comes with it?" she asked.

 

Mrs Ntetep further highlighted the suffering the Ogoni people endured due to
oil extraction, with little or no development to show for it.

 

"No apology has been made for the destruction of our environment, the
killing of our people, the loss of livelihoods, the destruction of our
villages, and the murder of our leaders, among others.

 

"To assume that oil extraction can commence while these injustices remain
unresolved is naïve at best and cruel at worst," she stated.

 

The coalition urged the government to halt the planned resumption of oil
activities in Ogoniland and instead focus on addressing the ecological
disaster in the area.

 

The group further called for the implementation of UNEP's clean-up
recommendations, decommissioning aged oil infrastructure, providing
alternative livelihoods for the people and securing justice for the
countless Ogonis who still await closure.

 

The News Agency of Nigeria reports that the coalition includes the Mba Okase
Initiative, Eedee Ladies of Tai, De Voice of Eleme Women Association, and
League of Queens International.

 

Others are Gbogbia Feefeelo Women, Lekeh Foundation, We The People,
Kebetkache Women Development and Resource Centre, Concern Ogoni Daughter,
Peoples Advancement Centre, and Miideekor Environmental Development
Initiative, among others.

 

Premium Times.

 

 

 

 

 

Africa: 'AI Not a Substitute for Human Intelligence' But Innovations Are
Reshaping Global Surgery

Kigali, Rwanda — In the health sector, the fast adoption of artificial
intelligence (AI) will lead to a major shift

 

"Surgeons are innovators by the very virtue of what we do - we cut, we
dissect, and we need gadgets. We think of innovations and inventions to help
us care for patients who need surgical care," Dr. Kathryn Chu, the director
of the Center for Global Surgery at Stellenbosch University in South Africa
said at the  Pan African Surgical Conference in Kigali, Rwanda.

 

There are critical challenges facing the global healthcare system, including
the lack of access to essential services for 4.5 billion people and the
predicted shortage of 10 million healthcare workers by 2030, primarily in
low- and middle-income nations, according to the World Economic Forum (WEF).
It's estimated that 1.3 billion people are being pushed deeper into poverty,
or extreme poverty, due to the financial hardship caused by health services
payments, according to the World Health Organization (WHO).

 

 

However, some of the gaps can be addressed using artificial intelligence.

 

"AI is not the future - it's the present. It's here to expand our time, take
away repetitive tasks, and make our lives better," said Dr. Allyn Ausländer,
Associate Vice President of Research at Operation Smile, the non-profit that
has provided free cleft lip and palate surgeries to more than 300,000
patients worldwide.

 

Experts predict that AI will aid clinicians in making more accurate and
timely decisions by automating routine administrative tasks and reducing
time spent on electronic health record systems.  But even though AI has so
much potential, it's not being used widely yet, and there's a risk we might
miss out on its full benefits.

 

However, the healthcare sector lags behind other industries in adopting
artificial intelligence despite rapid technological advances.

 

Dr. Chu traced key milestones in surgical innovation, which include stents,
bypass procedures, and implants. The surgical stapler, which was originally
invented by the Russians in the early 1900s and has since evolved
significantly, was one of the breakthroughs she referred to. She said the
surgical stapler drastically changed how procedures are performed,
particularly in colorectal surgery.

 

"The field of artificial intelligence is the broad field where the
development of smart systems and machines carry out tasks that were normally
done by humans," she said.

 

"Artificial intelligence is the broad field of developing systems that
perform tasks typically done by humans. Within AI, machine learning uses
algorithms and big data to make decisions based on patterns, while deep
learning involves artificial neural networks to reach conclusions without -
though I disagree - always needing human intervention," said Dr. Chu.

 

"The idea of global surgery is to improve access to surgical care worldwide.
I think that's why we're all here," she said. "These advances must, however,
be guided by ethical considerations.  We must ask: Is the innovation
equitable, sustainable, and respectful of the local context? "These are
critical questions when introducing new technologies or methods."

 

Dr. Chu emphasized the critical role of ethical principles, including doing
good (beneficence), avoiding harm (non-maleficence), ensuring fairness
(justice), and respecting patients' rights to make their own decisions
(autonomy).

 

"As surgeons, we take the Hippocratic Oath, which includes doing no harm and
prioritizing patient well-being. But justice - ensuring fairness and equity
- is more complex. We must consider not just the patient in front of us, but
also those we aren't treating, whether in our hospital, health district, or
entire country."

 

Challenges of data privacy

 

As healthcare systems embrace digital transformation, cybersecurity has
become a top priority as data breaches, cyberattacks, and system failures
endanger patient safety.

 

"When it comes to data privacy, the key is to balance risk," Dr. Ausländer
said. Operation Smile emphasizes, for example, that refusing to participate
in research will not affect their treatment, even if data are collected with
the best intentions. We must ensure patients are fully informed and have the
option to opt out without affecting their care."

 

She raised concerns about the widespread absence of strong data protection
measures globally. The challenge lies, however, in applying AI responsibly,
a concern that will become more and more important as discussions about AI
integration in healthcare continue.

 

Ausländer said that while ethical considerations are crucial, an overly
cautious approach to healthcare could exclude African data from AI training.
This could limit the advancement of medical technologies for patients. "As a
global community, we haven't figured out data protection. While health is
one of the most ethically conscious fields, I worry we might overthink it to
the point where African data isn't included in AI training, which would be a
missed opportunity for progress."

 

Dr. Ausländer said that AI will not replace humans, but rather boost their
performance and productivity. Healthcare providers would be able to reduce
their administrative workload, especially in areas like Africa, where
medical professionals are overburdened with administrative tasks.

 

Watch this Operation Smile video to see the potential of AI and how it can
transform a surgeon's daily work

 

However, she said that the main challenge in bringing AI tools, such as
note-taking software for doctors, to Africa is not the complexity of the
technology but the need for locally relevant data. "For example, if an AI
tool trained in the U.S. or Europe is used here, it might not work because
the way doctors dictate notes or prioritize information could be completely
different. The time-consuming part is gathering enough local data to train
the model so it's relevant and unbiased for the context."

 

"Telemedicine is one of the simplest ways AI can change healthcare access,"
she said. "By enabling virtual consultations, follow-ups, and scheduling,
patients won't need to travel for certain types of care, which can be
transformative, especially in underserved areas."

 

As far as surgery goes, said Dr. Ausländer, AI will not directly solve the
shortage of surgeons, but it may improve patient detection, like cleft lip
and palate at birth, and optimize supply chain management and cost savings.
AI may enhance efficiency in healthcare, however, she warned against
over-reliance on it and said that human expertise and compassion remain
irreplaceable.

 

Innovation - Real Impact?

 

Dr. Chu is concerned about whether innovations within local healthcare
systems are sustainable, and whether patients have meaningful choices or are
simply forced to accept what is presented to them.

 

She worked on a project developed by UK engineers and piloted in South
Africa to develop a rugged prosthesis for lower-limb amputees in rural
Africa. The prosthetics were tested on young male trauma patients, not the
entire amputee population, and data was sent back to a UK university for
refinement, mirroring how many AI-driven innovations operate.

 

While the intent was beneficence - to help patients - we must ask: What if
it doesn't work or causes harm? Was it equitable? Were local patients
involved in its development? Who owns the data collected, and will it
benefit the local population or just the developers?"

 

"Simulation is now here to stay as part of our medical education."

 

The purpose of using simulation in surgical training is to allow surgeons to
develop skills and competence without practicing on patients, said Dr. Chu.
Simulators enable trainees to rehearse rare but critical scenarios, such as
accidental injuries to major blood vessels, which is important for operating
room readiness.

 

"For example, as an abdominal surgeon, cutting into the inferior vena cava
is a dreaded complication. Simulators let us practice such scenarios so
we're prepared if they occur." She drew parallels to aviation: "Pilots use
simulators to practice emergencies, like the Hudson River landing. In
surgery, simulators help us simulate high-stakes situations, such as trauma
cases with limited resources, before they occur."

 

Dr. Chu said the role of AI and simulation in surgical training has the
potential to be a "great equalizer", but we must ask: Will simulators widen
the gap between low-resource and high-resource settings, or will they close
it?"

 

The beauty of low-tech simulators is that they can be connected to laptops,
making them accessible even in resource-limited settings. However, in
high-resource countries, virtual reality simulators are already in use,
creating a disparity in training opportunities."

 

She said medical students are already using advanced technologies such as
virtual reality (VR) simulators in some parts of the world.

 

"When we learned colonoscopy, we did not have virtual reality 3D colonoscopy
simulators to practice on. For most of us in the African continent, this is
still not available," she said. This disparity raises a critical question
about whether surgical education is "leapfrogging ahead in certain
countries" while others lack access to these essential training tools.

 

"AI can help us make decisions before the operation, in the operating room,
and afterward."

 

AI can assist in several ways, Dr Chu said. "... this is a 42-year-old woman
with rectal bleeding, and we found colon cancer during colonoscopy. The AI
can help you decide what the best prehabilitation and pre-op steps needed,
which pre-op antibiotics to give, what type of operation would be best for
this patient given the risk factors, and help predict the surgical site
infection risk and anastomotic leak rate afterward."

 

To demonstrate the limitations of artificial intelligence when trained on
inadequate or biased data, Dr. Chu used a mHealth app designed to detect
surgical site infections. Despite its success in the UK, the app failed in
Africa because it was developed with data from emergency abdominal surgeries
and light-skinned patients. AI's effectiveness depends solely on the quality
and relevance of the data it is trained on.

 

She said that while this technology can make accurate decisions without
human intervention, it also poses risks. How transparent is the process of
how AI came up with the answers that it did?

 

Can AI make better decisions than the human surgeon?

 

AI can assist surgeons by identifying the critical view of safety during
gallbladder surgery, showing the cystic artery and cystic duct in real-time,
Dr Chu said. But what happens if the AI is wrong and misidentifies the
common bile duct? Who takes responsibility for that error, she asked,
"certainly not ChatGPT".

 

While AI can be a valuable tool in the operating room, she said, it does not
replace the surgeon's training and decision-making abilities. "AI is a tool
for us as surgeons. But we went to medical school, and we did all the
surgical training to be able to also input our decisions."

 

Dr. Ausländer agrees that healthcare providers should use AI tools
thoughtfully and with a clear understanding of their capabilities.

 

"As medical providers, if you're going to use AI, it's your responsibility
to understand what you're using and how it works. You should be able to
answer questions about it and not blindly trust the tool," Dr. Ausländer
said. "ChatGPT is a good starting point, but it's not the ending point. You
have to fact-check everything it generates and verify it with reliable
sources. You can't just copy-paste and assume it's correct."

 

Dr. Chu reiterated that while surgical innovation and AI are integral to
modern practice, the challenge lies in their appropriate
application."Simulators can bridge the gap between resource-limited and
high-resource settings, but they can also widen it. The question is, how can
we creatively use simulators to provide the best education for all
trainees?"

 

She said integrating ethical considerations into AI and innovation training
is key, ensuring surgeons understand both the benefits and limitations of
these tools.

 

"AI can improve surgical decision-making, but we must balance its power with
our own expertise. The ethics of innovation and AI should be a mandatory
part of surgical training, as understanding its benefits and pitfalls can
make us better surgeons," said Dr. Chu.

 

"Artificial intelligence is not a substitute for human intelligence; it is a
tool to amplify human creativity and ingenuity."

 

Edited by Juanita Williams

 

 

 

 

Namibia Addresses Four of 13 Greylisting Issues

Namibia has addressed four out of the 13 strategic deficiencies that led to
the country being greylisted.

 

In February 2024, the Financial Action Task Force (FATF) - a global money
laundering and terrorist financing watchdog - greylisted Namibia,
essentially putting the country under stricter economic monitoring and
regulation. After a plenary meeting on Friday in Paris, the FATF confirmed
that Namibia continues to make progress in addressing the deficiencies in
the action plan adopted at the time of greylisting.

 

Bryan Eiseb, director of the Financial Intelligence Centre, says Namibia
needs to remediate all 13 identified deficiencies by May 2026 in order to be
removed from the list. "We are pleased with the progress made by Namibia and
as recognised by the FATF. This shows that our commitment to addressing
these issues is being taken seriously," says Eiseb.

 

 

According to Eiseb, Namibia's action plan aims to strengthen domestic
anti-money laundering and counter-terrorism financing frameworks.

 

Eiseb says apart from the four action items which have been "largely
addressed", the remaining items in the action plan have been partially
addressed, with one item yet to be tackled.

 

The next reporting cycle - before the next FATF assessment in May - will
focus on legal entities filing beneficial ownership information with the
Business and Intellectual Property Authority (Bipa). This requirement is
considered a key step in enhancing transparency and preventing the misuse of
legal entities for illicit purposes.

 

"We encourage all companies and close corporations who have not done so to
file their beneficial ownership information with Bipa as required by law.
The timely filing of this information will enhance Namibia's chances of an
enhanced rating by the FATF in May 2025," says Eiseb.

 

May's assessment will determine Namibia's progress and the possibility of
being removed from the greylist.

 

Namibian.

 

 

 

Ethiopia: Kessem Sugar Factory Announces Mass Layoffs Affecting Over 1,100
Employees, Sparking Protests Among Workers Already Struggling With
Displacement Due to Earthquake

Addis Abeba — Kessem Sugar Factory's management has issued a preliminary
warning about plans to lay off more than 1,100 employees in the coming
months, raising "deep concerns" among workers already struggling with
displacement caused by a series of seismic activities in the Afar region.

 

A factory worker, who requested anonymity for safety reasons, told Addis
Standard that Kessem Sugar Factory posted a notice on 18 February, 2025,
announcing the termination of employees' contracts. "However, the factory
later made a correction, stating that employees would receive a preliminary
notice of contract termination within one to three months, depending on
their length of service," he revealed.

 

 

The notice, posted on the factory's announcement board and reviewed by Addis
Standard, states that due to "significant damage to the factory's property
caused by repeated earthquakes" and the resulting "complete suspension of
operations," the employment contracts of the listed workers will be
terminated with prior notice, effective 18 February, 2025.

 

However, the factory later revised this decision, informing employees--based
on their tenure--that they would receive a notice period ranging from one to
three months before their contracts are officially terminated, Addis
Standard learned from the workers.

 

The factory worker explained that the termination timeline is structured
according to each employee's length of service. "For example, those who have
worked for less than five years were given a one-month notice; those who
worked between five and ten years received two months; and those who have
worked for more than ten years were allotted a three-month notice period,"
he disclosed.

 

Another employee, who had worked in various departments of the factory for
11 years, criticized the decision as "ill-timed and inconsiderate of
employees' circumstances."

 

He pointed out that the termination notice came at a time when workers were
completely unprepared, with many still sheltering in temporary housing due
to the recent earthquake.

 

"I am the head of a family with three children," he stated. "At this time,
our minds are focused on the earthquake, and we did not expect such a sudden
decision."

 

He added that factory employees were already enduring significant hardships
due to their displacement following a series of seismic activities in the
area. "At the very least, if such a decision had to be made, the management
should have considered the workers' situation," he emphasized. "Instead,
they simply decided to let us go."

 

Reports indicate that recent earthquakes in the Afar region have caused
significant damage to the Kesem Sugar Factory, located in the Dulesa
district.

 

According to Ali Hussein, the factory's general manager, the facility
sustained "moderate to severe" damage, including the collapse of the power
distribution building, cracks across the sugarcane fields, and damage to
both warehouses and residential areas.

 

In January 2025, Addis Standard reported that more than 58,000 individuals,
including 4,000 Kesem Sugar Factory workers, have sought refuge in temporary
shelters and are receiving humanitarian assistance following their
displacement by recurring earthquakes in the Dulesa and Awash Fentale
districts of the Gabi Rasu Zone.

 

Belay Abebe (name changed for security reasons), another factory worker,
told Addis Standard that many employees have been living under makeshift
tents at the "New Vision" shelter in Awash Arba since 29 December, 2024,
after being displaced by the earthquake in the Afar region. However, he
stated that they recently learned Kessem Sugar Factory had issued a notice
terminating the employment contracts of 1,100 workers.

 

This worker, whose name appeared on the termination list, further revealed
that following negotiations between the workers' association and factory
management, the initial notice was revised. "As a result, employees were
informed that their contracts would end within a period of up to three
months, depending on their tenure," he added.

 

Emphasizing that he has a family to support, the worker noted that he has
been employed at the factory for approximately 11 years.

 

"No one has approached us to check on our condition or even to ask what we
need," he stated. "The workers are now left in confusion and uncertainty."

 

Getahun Arsiicho, chairman of the Kessem Sugar Factory Workers' Union,
confirmed to Addis Standard that the factory has announced the termination
of employment contracts for 1,135 permanent employees and 34 contract
employees, effective 18 February, 2025. The termination will be carried out
over a period of up to three months, depending on each employee's length of
service.

 

"Currently, the employees are in a state of distress," said Getahun,
expressing disappointment that the decision was made despite the
availability of alternative solutions.

 

He argued that options considered for employees of other sugar
factories--such as Wolkait, Tendaho, and Arjo Dedessa, which were closed due
to man-made problems--should also have been explored for Kessem Sugar
Factory workers.

 

Furthermore, Getahun pointed out that the factory, with access to 20,000
hectares of land, sufficient water from the Kessem Dam, and a favorable
climate, could have allowed workers to engage in short-term cash crop
farming to sustain themselves until production resumed. "Terminating their
employment under these circumstances," he stressed, "was unjustified."

 

Getahun added that the workers' union has written letters to the Ethiopian
Trade Unions Confederation and other relevant bodies. "The union will
continue its efforts to find a resolution," he emphasized.

 

Addis Standard recently reported that more than 200 workers at the Tana
Beles Sugar Factory are protesting their reassignment to temporary
employment and manual labor positions. The workers revealed that this
demotion and reassignment to daily labor roles occurred following the
implementation of a new organizational structure one month ago.

 

Addis Standard's efforts to interview the management of Kessem Sugar Factory
were unsuccessful.

 

Addis Standard.

 

 

 

Nigeria: Govt Pledges to Strengthen Investment, Trade Opportunities With UAE

The Federal Government has expressed its commitment to strengthen investment
opportunities and trade partnerships with the United Arab Emirates (UAE) and
other countries.

 

This is contained in a statement issued by Dr Adebayo Thomas, Director of
Press and Public Relations, Ministry of Industry, Trade and Investment, in
Abuja on Thursday.

 

Thomas said Dr Jumoke Oduwole, the Minister of Industry, Trade and
Investment, made the pledge in an exclusive interview at a prestigious
Investopedia conference in the UAE.

 

According to him, Oduwole highlighted the transformative reforms undertaken
by President Bola Tinubu's administration over the past 18 months,
describing Nigeria as an attractive investment destination.

 

 

"The president has implemented crucial reforms addressing currency
stability, inflation, and fiscal policies, which are already yielding
positive results.

 

"Now, our focus is on trade policy and investment.

 

We are open for business and eager to expand trade with the UAE.

 

"The strong diplomatic ties between our countries create a fertile ground
for investment, particularly in construction services, energy, food
security, digital trade and mining," he stated.

 

Thomas also quoted the minister as saying that the global business landscape
was shifting towards sustainable and impact-driven investments.

 

According to him, Oduwole emphasised that the Federal Government was
aligning its policies towards ensuring that Nigeria remained an attractive
destination for responsible investors.

 

He said the minister further explained the country's strategy for risk
transactions and fostered sovereign wealth-backed partnerships, particularly
with priority nations like the UAE.

 

"We are structuring investment deals to create a win-win scenario for all
stakeholders.

 

"Beyond bilateral trade, Oduwole assessed Nigeria's role in intra-African
trade under the African Continental Free Trade Agreement (AfCFTA).

 

"Nigeria is a digital trade champion and leader in the tech sector," the
minister said.

 

"With over 200 million people and five out of nine African unicorns coming
from Nigeria, we are leveraging digital trade and services.

 

"These contribute over 50 per cent of our Gross Domestic Product (GDP)," she
stated.

 

Thomas said that the minister also acknowledged the evolving geopolitical
landscape and the increasing importance of self-reliance in Africa's
economic strategy.

 

According to him, Oduwole stressed that Nigeria must move beyond dependency
and leverage new capital sources and trade partnerships.

 

"Africa's multilateral institutions mobilised over 70 billion dollars last
year, demonstrating the continent's potential to drive its own growth.

 

"As Nigeria continues to optimise its trade agreements and attract strategic
investments, the government is strongly committed to fostering an enabling
environment for business.

 

"We keep our trade and investment strategies close to our chest, but one
thing is certain: Nigeria is prepared to lead and excel in the new global
economy," Oduwole was quoted as saying.

 

"With Investopedia providing a platform for critical trade dialogues,
Nigeria stands poised to strengthen its economic ties.

 

"Nigeria will continue to drive sustainable investments and champion
regional trade across Africa and beyond," the minister said. (NAN)

 

Vanguard.

 

 

 

Nigeria: Govt Injects N107bn Into Pension Protection Fund to Support
Low-Income Retirees

"This is a major step towards ensuring that pensioners--particularly
low-income earners--receive a living wage in retirement,"

 

The Federal Government has allocated N107 billion to the Pension Protection
Fund (PPF) in a bid to safeguard the financial security of low-income
retirees under the Contributory Pension Scheme (CPS).

 

This is part of the N758 billion bond approved by the Federal Government to
clear outstanding liabilities under the Contributory Pension Scheme while
enhancing retirement benefits for vulnerable pensioners.

 

The Director General of the National Pension Commission (PenCom), Omolola
Oloworaran, disclosed this at a press conference in Abuja on Thursday after
the Quarterly PenCom/Operators Consultative Forum.

 

 

According to her, including the PPF in the settlement plan reflects the
administration's recognition of the economic difficulties pensioners face on
the lower end of the earnings scale.

 

"This is a major step towards ensuring that pensioners--particularly
low-income earners--receive a living wage in retirement," Ms Oloworaran
said.

 

"With this intervention, the government is addressing long-standing funding
gaps and reinforcing the sustainability of the pension system."

 

The PPF was established under the Pension Reform Act 2014 to provide
financial assistance to pensioners with low balances in their Retirement
Savings Accounts (RSAs). However, its implementation has remained largely
ineffective due to a lack of funding.

 

This injection of funds is expected to provide much-needed relief to
retirees who struggle with the rising cost of living.

 

Beyond the PPF, the N758 billion bond also covers N253 billion in accrued
pension rights for retirees from treasury-funded Ministries, Departments,
and Agencies (MDAs), as well as N388 billion to clear outstanding pension
increases dating back to 2007.

 

"Pension Increases Since 2007 - N388bn has been provided to clear pension
increases that have remained unpaid for nearly two decades. This
long-overdue entitlement, benefiting over 250,000 retirees, reflects the
administration's commitment to ensuring pensions remain fair and responsive
to economic realities," she said.

 

An additional N11 billion has been earmarked to ensure university professors
receive full retirement benefits.

 

The bond issuance follows persistent complaints from pensioners over delayed
and inadequate payments, with many retirees falling into financial distress.

 

Under the new framework, the government has pledged to ensure that accrued
pension rights are incorporated into the monthly personnel cost general
warrant, guaranteeing timely disbursement going forward.

 

The intervention also comes when Nigeria is grappling with high inflation
and a depreciating naira, which have significantly eroded the purchasing
power of pensioners.

 

Ms Oloworaran commended President Bola Ahmed Tinubu for what she described
as a decisive intervention in pension administration. She also acknowledged
the role of the Minister of Finance, Wale Edun, in facilitating the funding
arrangement.

 

"This resolution of pension liabilities restores confidence in the CPS and
positions the pension industry for long-term growth. Beyond immediate
payments to retirees, it will stimulate the economy, deepen the capital
market, and enhance overall financial stability.

 

"With this burden lifted, the pension industry can now focus on innovation,
improved service delivery, and optimising investment returns. A renewed
emphasis will also be placed on expanding the Micro Pension Plan, ensuring
that Nigerians in the informal sector can save securely for their future,"
she said.

 

Premium Times.

 

 

 

 

 

UK-US trade deal could mean tariffs 'not necessary', says Trump

A trade deal between the US and UK could happen "very quickly", President
Donald Trump said at a joint press conference with Sir Keir Starmer.

 

Speaking during the prime minister's visit to the White House, Trump
envisaged "a real trade deal" which could see the UK avoid the kind of
tariffs the president has been threatening on some of the US's other trading
partners.

 

The trip had been seen as a key moment in Sir Keir's premiership as he
sought to influence Trump's decisions on topics including Ukraine, as well
as trade.

 

Sir Keir kicked off his White House visit by presenting Trump with a letter
from King Charles inviting him to an "unprecedented" second state visit to
the UK.

 

Receiving the letter in front of cameras in the Oval Office, Trump said it
would be a "great honour" and described the King as "a wonderful man".

 

Sir Keir said the offer of a second state visit was "truly historic".
Traditionally US presidents have only been given one state visit.

 

Having confirmed he would be accepting the invite, Trump, along with Sir
Keir took questions from reporters for 30 minutes.

 

The US president did most of the talking, setting out his stance on many
subjects including the possibility of a Ukraine deal and the UK's potential
agreement with Mauritius over the Chagos Islands.

 

On the plane to the US, Sir Keir reiterated his willingness to send British
troops to Ukraine as part of a peace deal.

 

However, he argued that, without US security guarantees, Russian President
Vladimir Putin could re-invade Ukraine.

 

Asked if he would provide such assurances, Trump said a minerals agreement
he plans to sign with Ukraine on Friday could provide a "backstop".

 

He said "nobody will play around" if US workers were in the country, as part
of the deal on minerals.

 

The US president was pressed on whether he stood by his accusation that
Ukrainian President Volodymyr Zelensky was a "dictator".

 

"Did I say that? I can't believe I said that," he said.

 

He later added he had "a lot of respect" for Zelensky, who he will host in
Washington DC on Friday.

 

 

 

2:01

King invites Donald Trump for second UK state visit

The UK's planned agreement with Mauritius over the Chagos Islands was one
potential source of tension between the UK and US leaders.

 

However, Trump appeared to back the UK's approach saying he was "inclined to
go along with it".

 

The deal would see the UK cede sovereignty of the Indian Ocean archipelago,
but maintain control over the island of Diego Garcia, which includes a US-UK
military airbase, by leasing it back.

 

After taking questions in the Oval Office, the two leaders took part in
talks and then held a formal press conference, during which Trump repeatedly
spoke about a possible US-UK trade deal which could be agreed "very
quickly".

 

Referring to an economic, rather than a trade deal, Sir Keir said the UK and
US would begin work on an agreement centred on the potential of artificial
intelligence.

 

"Instead of over-regulating these new technologies, we're seizing the
opportunities they offer," he said.

 

He said the UK and US had shaped the "great technological innovations of the
last century" and now had the chance to do the same in the 21st Century.

 

"Artificial intelligence could cure cancer. That could be a moon shot for
our age, and that's how we'll keep delivering for our people," he said.

 

Trump has repeatedly threatened to impose tariffs - import taxes - on many
of its allies, including 25% on goods made in the European Union.

 

He also ordered a 25% import tax on all steel and aluminium entering the US
- which could hit the UK.

 

Asked if Sir Keir had tried to dissuade the president from ordering tariffs
against the UK, Trump said: "He tried."

 

"He was working hard I tell you that. He earned whatever the hell they pay
him over there," he said.

 

"I think there's a very good chance that in the case of these two great,
friendly countries, I think we could very well end up with a real trade deal
where the tariffs wouldn't be necessary. We'll see."

 

In a bid to convince the president against UK tariffs, Sir Keir said the
US-UK trade relationship was "fair, balanced and reciprocal".

 

Since leaving the European Union, successive British leaders have hoped to
get a general free trade deal with the US.

 

In his first term as president, Trump said talks about a "very substantial"
trade deal with the UK were under way.

 

However, negotiations stalled with disagreements over US agricultural
exports and UK taxes on tech companies causing problems.

 

The head of trade policy at the British Chambers of Commerce - a former
Labour MP and minister - told BBC Radio 4's Today programme on Friday that
businesses will be encouraged by what he called an "important first step".

 

"In trade negotiations, relationships matter," says William Bain, adding
that seeing the two leaders find common ground on their respective economies
and trade is "helpful".

 

He added that a deal to keep tariffs low would most benefit automotive and
pharmaceutical industries in the UK.-bbc

 

 

 

Trump says US will impose additional 10% tariff on China

Donald Trump said he planned to hit goods from China with a new 10% tariff,
the latest salvo in the US president's steadily escalating trade fights.

 

Imports from China already face taxes at the border of at least 10%, after a
Trump tariff order that went into effect earlier this month.

 

China's ministry of foreign affairs said it "strongly" expressed its
"dissatisfaction and resolute opposition" to the plans.

 

Trump also said on Thursday he intended to move forward with threatened 25%
tariffs on imports from Canada and Mexico, which are set to come into effect
on 4 March.

 

 

Trump's comments came as officials from Mexico and Canada were in Washington
for discussions aimed at heading off that plan.

 

Trump had announced the plans for 25% tariffs on Mexico and Canada for 4
February unless the two nations increased border security.

 

He paused the measures for a month at the last minute after the two
countries agreed to increase border funding and talk more about how to
combat drug trafficking.

 

On social media on Thursday, Trump wrote that he did not think enough action
had been taken to address the flow of fentanyl to the US.

 

"Drugs are still pouring into our Country from Mexico and Canada at very
high and unacceptable levels," he wrote, adding that "a large percentage" of
the drugs were made in China.

 

Mexican President Claudia Sheinbaum, at a press conference from the
country's National Palace, said in response: "As we know, [Trump] has his
way of communicating."

 

She added: "I hope we can reach an agreement and on 4 March we can announce
something else."

 

Canadian Prime Minister Justin Trudeau also said his country was working
hard to reach a deal, warning tariffs from the US would prompt an "immediate
and extremely strong response".

 

Trump's threats against Mexico and Canada have raised widespread alarm, as
the North American economy is closely connected after decades of operating
under a free trade agreement.

 

Leaders of the two countries have previously said they would impose
retaliatory tariffs on the United States if the White House went ahead with
its plans.

 

 

Tariffs are a tax collected by the government and paid for by the business
bringing the goods into the country.

 

China, Mexico and Canada are America's top three trade partners, together
accounting for more than 40% of imports into the US last year.

 

Economists have warned tariffs on goods from the three countries could lead
to higher prices in the US on everything from iPhones to avocados.

 

Trump's call for an additional 10% levy on goods from China - which he said
would also go into effect on Tuesday - had not been previously announced,
though during his presidential campaign he backed border taxes on Chinese
products of as much as 60%.

 

A spokesperson for China's ministry of foreign affairs, Lin Jian, said that
Trump was using the issue of the drug fentanyl entering the US from China as
an "excuse" to threaten tariffs, adding it had one of the "strictest" drug
control policies in the world.

 

"Pressure, coercion, and threats are not the correct way to deal with
China," he said.

 

Liu Pengyu, spokesperson for the Chinese Embassy, had earlier said that his
country was already working with the US to address the concerns about
fentanyl, and had made "visual progress" in areas such as information
exchange, case cooperation and online advertisement cleanup.

 

"Reducing domestic drug demand and strengthening law enforcement cooperation
are the fundamental solutions," he said in a statement, which warned that
Trump's tariff moves were "bound to affect and undermine future
counternarcotics cooperation between the two sides".

 

"The unilateral tariffs imposed by the US will not solve its own problems,
nor will it benefit the two sides or the world."

 

Stacked area chart showing main countries for US imports from 1992 to 2024.
It shows the five countries with the highest import share in Nov 2024.
Mexico (in purple) accounted for 15.6% of US imports, followed by China (in
blue, 13.5%) and Canada (in green, 12.6%). Together, they made up over 40%
of US imports. The other two countries are Germany and Japan, in grey.

 

Trump's comments, which called for drug flow to stop or be "severely
limited", seemed to set the stage for Mexico and Canada to negotiate, said
trade expert Christine McDaniel, a senior research fellow at the Mercatus
Center at George Washington University.

 

On Thursday, as tariff talks intensified, two imprisoned alleged leaders of
the violent Zetas cartel long sought by the US - Miguel Angel Trevino
Morales and his brother Oscar - were extradited.

 

Mexican media said they were part of a larger group of drug lords sent from
Mexico to the US - a major step in terms of US-Mexico security relations.

 

Ms McDaniel said Trump's demands of China were less clear, raising the
likelihood that those measures will come into effect.

 

Trump's initial round of tariffs on China was eclipsed by his threats
against Canada and Mexico. But the potential for further duties raises
questions about how businesses will respond.

 

Ms McDaniel said she expected the hit to be felt more in China.

 

"It's not costless for the US, but so far it seems more costly for China,"
she said.

 

The impact of tariffs, if they go into effect, is expected to be felt more
in the Canadian and Mexican economies, which count on the US as a key export
market.

 

But analysts have warned that the threat of the levies, even if they are
never imposed, is still likely to have a chilling effect on investment,
including in the US.

 

China has already responded to the first round of tariffs from the US with
its own tariffs on US products, including coal and agricultural machinery.

 

Trump has dismissed fears about damage to the American economy.-BBC

 

 

 

 

Goldman Sachs pledges £1.5m to support apprentices

Sachs has pledged £1.5m to a West Midlands apprenticeship fund to help
businesses in the region to develop their staff.

 

The investment bank announced it would be committing funds from its
apprenticeship levy to the West Midlands Combined Authority (WMCA) levy
transfer scheme.

 

The money will help small and medium-sized businesses, charities and social
enterprises to invest in and develop staff.

 

West Midlands Mayor Richard Parker said the WMCA's apprenticeship levy
scheme had already raised £50m, funding 4,800 apprentices in the region.

 

 

Parker added more residents could get access to apprenticeships and smaller
businesses could train workforces for the future following the boost in
funding.

 

"Only by working together can we tackle one of the biggest problems faced by
our region, unemployment, particularly among young people," he said.

 

"Goldman Sachs has already shown their dedication to the region with their
offices in Birmingham, but now they are showing how they are supporting our
residents too."

 

The investment firm established its Birmingham office in 2021 and now has
more than 450 employees in the city, moving to a permanent office at One
Centenary Way last year.

 

Gurjit Jagpal, head of Goldman Sachs Birmingham, said they were proud to
support the expansion of apprenticeships in the region.

 

"This reflects our ongoing commitment to Birmingham and our belief in the
importance of digital and workplace skills," he said.

 

"The depth and quality of talent in the region has been a differentiator
since we opened our Birmingham office," he said, "and we look forward to
continuing to engage positively with local communities to invest in talent
across all levels of experience."-BBC

 

 

 

Trump says 25% tariffs on EU will be announced soon

US President Donald Trump has said he is planning to hit goods made in the
European Union with tariffs of 25%, claiming the bloc was created to "screw
the United States".

 

"We'll be announcing it very soon," he told reporters at an appearance with
members of his cabinet. "It'll be 25% generally speaking and that will be on
cars and all other things."

 

The European Union said it would react "firmly and immediately against
unjustified tariffs".

 

Trump's appearance sparked questions about his trade plans, as he also
appeared to raise the possibility that looming tariffs on imports from
Mexico and Canada, set to come into force on 4 March, might be postponed
again.

 

An administration official later said the deadline remained in place, with
the president planning to review Mexico and Canada actions related to border
security over the coming days.

 

Trump made clear on Wednesday that trade with Europe also remained in his
sights, repeating his criticism of European policies, which he said put
American exporters of food products and cars at a disadvantage.

 

"The European Union was formed to screw the United States - that's the
purpose of it and they've done a good job of it," he said. "But now I'm
president."

 

The EU rejected the president's claims, saying the creation of a regional
market had made doing business in Europe easier for American firms.

 

"It has been a boon for the United States," a spokesperson for the
commission said. "We're ready to partner if you play by the rules. But we
will also protect our consumers and businesses at every turn. They expect no
less from us."

 

What are tariffs and why is Trump using them?

'Is it for a day or four years?' Tariff uncertainty spooks small businesses

Tariffs are a tax on imports that is collected by the government and paid
for by the companies bringing in the goods.

 

Trump has vowed to use the levies to boost US manufacturing, raise money and
push other countries to change policies he opposes.

 

But there are concerns such measures could fuel inflation, with warnings
that Americans could face higher prices for goods as businesses may choose
to pass on some or all of the cost of tariffs to customers.

 

Since taking office, he has raised tariffs of 10% on goods from China and
taken steps to hit other imports with duties, including directing his staff
to develop recommendations for custom "reciprocal" tariffs for each country.

 

But he has also suspended some of those plans, leaving many businesses and
analysts guessing as to whether he is prepared to carry out his threats.

 

"The 25% threat that he threw out today is in line with the high end of the
range that he previously indicated," said Tobin Marcus, head of US policy
and politics at Wolfe Research.

 

"It's a number that's concerning - certainly should be concerning - for the
trans-Atlantic trade relationship, but not totally out of the blue."

 

'Worried, not afraid'

Antonin Finkelnburg, of the Federation of German Wholesale, Foreign Trade
and Services which represents businesses, told the BBC that a 25% tariff on
EU goods entering the US would created a "difficult" but "not an impossible"
situation for Germany's economy.

 

"We are worried but we shouldn't be afraid," he told the BBC's Today
programme.

 

Germany's car industry's products are popular in the US.

 

Mr Finkelnburg said many German car manufacturers were "already producing in
the American market, so they wouldn't be directly affected by the tariffs",
but said tariffs would still drive up prices.

 

"The car parts that are manufactured in to those cars are crossing the
borders of Mexico and Canada several times so that already is driving the
prices up," he added.

 

Earlier this month, Trump ordered 25% tariffs on goods from Mexico and
Canada, America's top two trading partners. But he suspended the duties
before they went into effect until 4 March, to allow for talks on border
security.

 

On Monday, Trump said he expected tariffs of 25% on goods from Mexico and
Canada to come into effect "on schedule".

 

At Wednesday's meeting, when asked for an update, he said the 25% tariffs on
Mexico and Canada would go into effect on 2 April.

 

That is the same day that the Commerce Department is supposed to deliver its
wider recommendations for "reciprocal" tariffs.

 

Commerce Secretary Howard Lutnick told reporters that "the overall is April
2" , distinguishing between tariffs tied to concerns about drug trafficking
and migration from Mexico and Canada.

 

The Dow Jones Industrial Average, S&P 500 and Nasdaq all headed lower in
mid-day trade, while the peso and Canadian dollar gained.-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 

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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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