Major International Business Headlines Brief::: 08 January 2025

Wed Jan 8 10:26:11 CAT 2025

 <https://bullszimbabwe.com/> 

 <http://www.bullszimbabwe.com> Bullszimbabwe.com         <mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments        <https://bullszimbabwe.com/category/blogs/bullish-thoughts/> Bullish Thoughts        <http://www.twitter.com/BullsBears2010> Twitter         <https://www.facebook.com/BullsBearsZimbabwe> Facebook           <http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn          <https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp         <mailto:bulls at bullszimbabwe.com?subject=Unsubscribe> Unsubscribe

Major International Business Headlines Brief:::  08 January 2025 

 <mailto:info at bulls.co.zw> 

ü  Ghana: John Mahama Takes Oath As Ghana's President Amid Severe Economic Crisis

ü  Mozambique's Post-Election Crisis Affects Significantly Malawi

ü  Kenya: Clinicians Vow Nationwide Strike From January 19 Over SHA 'Discrimination'

ü  Central Africa: Rwanda's Horticulture Exports Rise By 29 Percent

ü  Rwanda's Industry Output Up By 14.7 Percent in 2024

ü  Kenya Upgrades Suam Border Post to Boost Trade

ü  Ghana: President Mahama Pledges Economic Reset, Governance Reforms

ü  Namibia: Significant Rainfall Boosts Dam Levels Across Namibia

ü  Kenya: Salamair to Start Sh16,788 Nairobi-Muscat Direct Flights in Feb

ü  Uganda: Luwero Stuck With Sh740 Million Debt for Road Works After Ramathan Ggoobi Declines to Pay

ü  Liberia: NPA Boss in Faceoff With Senate Pro-Temp

ü  Rwanda: St. Louis Delegation Explores Investment Opportunities in Rwanda

ü  OpenAI boss denies sister's allegations of childhood rape

ü  US launches probe of Tesla's 'smart summon' driverless tech

ü  Rolls-Royce factory to expand for more bespoke cars

 <mailto:info at bulls.co.zw> 

Ghana: John Mahama Takes Oath As Ghana's President Amid Severe Economic Crisis

The new Ghanaian president, John Mahama, is being sworn in this Tuesday, 7 January, in Accra, as the nation looks for solutions to its worst economic crisis in a generation.

He takes office as the country faces a deep economic crisis.

Mahama has already promised to find sustainable solutions to Ghana's financial turmoil, to fight corruption, to improve its energy supply, and to manage the regular power outages from which the country suffers.

"We're facing a critical situation in the energy sector," Mahama said. "The electricity company of Ghana is the 'sick man' of the whole value chain and we need to quickly fix it."

The new president also started working on reinforcing Ghana's partnership with other stable African nations, travelling to Kenya just before the end of the year to meet President William Ruto.

To display this content from X (Twitter), you must enable advertisement tracking and audience measurement.

Accept Manage my choices Emergency budget

Mahama is Ghana's main opposition figure and tried twice before to win back the country's top post.

As the leader of the National Democratic Congress (NDC) party, he defeated Mahamudu Bawumia, who represented the ruling New Patriotic Party (NPP), in elections on 7 December.

Ghana's former president Mahama wins election after ruling party concedes defeat

Ghana's parliament passed a provisional budget mid-December, which allows the government to spend 68.1 billion Ghanaian cedis (€4.2 billion) through March, narrowly averting an unprecedented government shutdown.

Parliamentary speaker Alban Bagbin said the parliament had approved the provisional budget in a sitting that stretched deep into the night.

Ghana's president faces tough start as economic crisis drives people to leave

Promises to fight corruption

Mahama recently appointed an anti-corruption task force, as he had promised in his campaign programme, to tackle graft and reclaim misappropriated state funds.

The five-member group will try to recover all the public funds embezzled along with the proceeds of corruption in the West African country in recent years. During his campaign, Mahama said that unchecked procurement processes are one of the main problems in this respect.

Ghana voters carry economic pain to the polls

Emmanuel Wilson Junior, an anti-graft advocate and lawyer with the organisation Crusaders Against Corruption, hailed the initiative and urged the incoming administration to act swiftly.

"This is a step in the right direction. Ghanaians are tired of corruption being swept under the carpet. We expect this team to be proactive and ensure real accountability," Wilson told French news agency AFP.

Finally, Mahama and his government should also seize the opportunity to ensure the promotion and protection of human rights, the NGO Amnesty International said a statement.

These issues include gender equality and women's rights, the right to freedom of peaceful assembly, and the right to a healthy environment for everyone in the country, Amnesty said Monday.-RFI website.

Mozambique's Post-Election Crisis Affects Significantly Malawi

Maputo — Malawian President Lazarus Chakwera has claimed that Mozambique's post-election crisis, characterized by mass demonstrations called by the presidential candidate Venancio Mondlane to protest against the fraudulent results of the general elections held on 9 October, are significantly affecting his country's economy.

According to Chakwera's special envoy to Mozambique, Malawian Health Minister Khumbize Chiponda, who was received in audience, in Maputo, on Monday by Mozambican President Filipe Nyusi, Mozambique is a strategic partner for Malawi, which means that instability is harmful for both counties.

"We have had very strong support. President Nyusi himself has made a very strong commitment to strengthening relations and Malawi, being a landlocked country, with Mozambique's support, has been able to transport fertilizers, fuel and other goods', she said.

Peace and stability, she said, are fundamental elements for the Southern African Development Community (SADC), and therefore it is urgent to find solutions for the current post-election crisis.

"The main message I have brought', she added, "is a message of hope for the peace and stability of Mozambique'.

Kenya: Clinicians Vow Nationwide Strike From January 19 Over SHA 'Discrimination'

Clinical officers have threatened to stage a nationwide strike starting January 19 unless the government addresses their grievances.

In a letter addressed to stakeholders, including the Ministry of Health, the Ministry of Labour and Social Protection, the Council of Governors, and the Head of Public Service, Felix Koskei, the Kenya Union of Clinical Officers (KUCO) cited ongoing discrimination by the Social Health Authority (SHA) and the violation of a Return-to-Work Agreement (RTWA) signed after a prolonged strike in 2024.

According to the union, the SHA has excluded clinical officers from providing services despite their registration with the Clinical Officers Council and has failed to recognize their facilities.

Clinical officers claim that many Kenyans are suffering due to a lack of critical health services, with patients being forced to pay out-of-pocket for care--contradicting the objectives of Universal Health Coverage (UHC).

Additionally, the union alleges that clinical officers are being coerced into licensing their facilities with the Kenya Medical Practitioners and Dentists Council (KMPDC) for empanelment.

They argue that this move is both illegal and forces them into double licensure.

"The Kenya Union of Clinical Officers has noted with concern the discrimination by SHA, which has effectively excluded all clinical officers from offering services through SHA," read part of the letter signed by KUCO Secretary General George Gibore.

"This discrimination and exclusion have been caused by the blatant, illegal, and illogical refusal of the Social Health Authority to recognize facilities and practitioners registered and licensed by the Clinical Officers Council."

Breach of Return-to-Work Agreement

The clinical officers also raised concerns over what they describe as a breach of the RTWA signed in 2024, which led to the suspension of their strike.

Despite repeated follow-ups, the union contends that County Governments and the Ministry of Health have failed to implement key provisions of the agreement.

These provisions include the promotion of clinical officers, conversion to permanent and pensionable terms, and the implementation of a comprehensive medical cover.

The union has demanded immediate action, including the recognition and empanelment of health providers licensed by the Clinical Officers Council, reinstatement of pre-authorization rights, and full implementation of the RTWA by January 19, 2025.

In December, the union called off a 99-day strike following a consensus reached with county governments. Capital FM.

Central Africa: Rwanda's Horticulture Exports Rise By 29 Percent

Rwanda's horticulture exports increased by 29.1 per cent to reach slightly over $75 million (approx. Rwf104 billion) in 2023/2024, up from $58.16 million in the previous fiscal year, shows a new report.

Specifically, the annual report for 2023/24 published on Monday, January 6 by the Ministry of Agriculture and Animal Resources, indicated that vegetable exports saw a revenue increase of more than 22 per cent, while fruit exports experienced an impressive growth of nearly 61 per cent.

Also read: Horticulture: Rwanda's new cash cow

Overall, vegetables contributed over $42.3 million (or 56 per cent of the total) generated from the sale of almost 62,000 tonnes of the commodity, fruits $30.6 million (or 40.7 per cent) from more than 34,700 tonnes, while flowers contributed $2.1 million (2.8 per cent) from more than 412 tonnes.

The positive performance of the overall horticulture exports can be attributed to several factors, including heightened global demand for horticultural products, which boosted both exports and re-exports, the report pointed out.

"These gains reflect improvements in production practices, including the adoption of advanced irrigation systems, more efficient fertiliser use, and better cultivation techniques, all of which have enhanced the quality and quantity of produce available for export," the report said.

Also read: Rwanda's horticulture exports generate $46m in 8 months

During the 2023-2024 fiscal period, the report indicated, efforts were concentrated on three critical areas, namely boosting fruit and vegetable yields, enhancing strategies for pest and disease control, and building the expertise of farmers and industry stakeholders throughout the country.

However, as per the report, the horticulture sector faced challenges, particularly with flower exports, which saw a decline of 52 per cent in revenue to $2.1 million in 2023/2024 from $4.5 million in the previous fiscal year.

This downturn can be largely attributed to the impact of the Russia-Ukraine conflict, which affected supply chains and market dynamics, especially since these countries are major importers of flowers from the Netherlands--the primary market for Rwandan flowers, it said of the factor for the drop.

To sustain the overall upward trend in horticulture exports, it will be crucial to address the challenges faced in the flower export market while continuing to enhance production and marketing strategies for vegetables and fruits, the report recommended.

The horticulture sector's performance surpassing the annual target (that was slightly more than $51.5 million) by more than 68 per cent suggests that market conditions were more favourable than initially anticipated, the report concluded.

It added that if trends in demand and favourable pricing continue, the horticulture sector has strong potential for further expansion and could make a sustained positive impact on the trade balance.

Rwanda's horticultural product destinations

As per the report, Rwanda has expanded its horticultural exports, encompassing vegetables, fruits, and flowers, to various markets worldwide, including Africa, Europe, America, Asia, and Australia.

Also read: Rwanda horticulture export prospects high with UAE deal

Notably, most vegetable exports were directed towards DR Congo (67 per cent), the United Kingdom (13 per cent), and France (4 per cent), among other destinations, the report showed.

For fruit exports, it indicated, they found significant markets in DR Congo, the United Arab Emirates (UAE), and Vietnam. In the case of flower exports, Rwanda primarily shipped flowers to the Netherlands, the United Kingdom, and North Korea. New Times.

Rwanda's Industry Output Up By 14.7 Percent in 2024

Rwanda's industrial production increased by 14.7 per cent in November 2024 compared to the same period the previous year, according to the latest industrial index by the National Institute of Statistics Rwanda (NISR).

Also read: Rwanda's industrial output up by 4.8% in August

The Industrial Production Index is a statistical instrument used to monitor the monthly trends in the output of industrial activities. This includes the goods produced by factories and other industrial businesses in Rwanda.

It is also used to compare the performance and growth of goods produced in the local industrial sector. It looks at different sectors including mining and quarrying, manufacturing, electricity, water and waste management.

NISR doesn't include construction activities due to constraint of data available.

Also read: Local producer prices decrease by 3.9% in November

Data indicate that the annual average basis in November was 8.6 per cent. The industrial output increased by 6.8 per cent in October and 8.9 percent in September.

Mining and quarrying increased by 45.2 per cent, manufacturing increased by 18.4 per cent, electricity increased by 9.6 per cent, while water and waste management increased by 12.8 per cent, during the period under review.

The increase of production in manufacturing industries was driven by an increase in food processing of 26.3 percent, however, its overall performance decreased in the third quarter of the year as indicated by NISR during the presentation of GDP figures.

Beyond food processing, there was a 16.6 per cent increase in manufacturing of beverages and tobacco products, while manufacturing of textiles, clothing and leather decreased by 39.5 per cent.

Fred Mugabe, Ag Director General of Industry at the Ministry of Trade and Commerce, says there wasn't any macroeconomic shock that led to the decrease in productivity of textile industries but attributed it to minor factors such as a decreased demand in that month as many people looked forward to purchasing goods during the festive season.

However, he emphasized that the textile industry has seen tangible growth over the years with more players in the Made in Rwanda sector and increased local demand.

He said that Rwanda's industrial sector has seen growth over the past seven years with new investments that contributed to the growth of manufacturing industries from 10 to more than 70 currently, and creating more than 5,000 jobs for people.

Mugabe added that while there is improvement in the local value chain, there are various interventions that will be enforced including improving quality and standardization of products, investor incentives, and boosting industrial parks across the country.

"We also need more investments in the local value chain especially in agro-processing for value addition in tea, milk, maize, and rice. Despite the market issue we had last year for rice, there is a need for more investments in improving the quality and quantity of rice we produce so that it can be competitive on the market."

Eugene Kajigija, Division Manager of Economic Statistics and Management of Database, National Bank of Rwanda, said that the growth of industrial production implies enhanced capacity to meet local market demands and create more jobs for people.

He noted that the export market remains small given that we mainly trade with countries in the region, however, having a trade deficit is not alarming as long as local industries are able to produce consumer goods, and the imports are mainly composed of capital goods.

-New Times.

Kenya Upgrades Suam Border Post to Boost Trade

Nairobi — The Kenyan government is intensifying efforts to complete the Suam One Stop Border Post (OSBP) in Trans Nzoia County to enhance trade, regional integration, and human connectivity with Uganda, its largest trading partner.

Deputy President Kithure Kindiki said Tuesday that the modern OSBP will enable border management officers from both nations to operate within shared facilities, significantly expediting the clearance of human and vehicular traffic.

During a site visit to the Suam Point of Entry/Exit in Endebess Constituency, DP Kindiki emphasized Uganda's critical role in Kenya's economic landscape.

"Uganda is not just a friendly and neighboring country; it is Kenya's biggest trading partner," Kindiki said during the visit to assess progress of the ongoing works.

"Trade between Kenya and Uganda is extremely crucial for the government and the people of Kenya because much of our regional trade is driven by business interactions between ourselves and our brothers and sisters from Uganda."

This visit also served to follow up on the implementation of presidential directives aimed at ensuring the expeditious completion of the Kenyan side of the OSBP.

The project's scope includes the development of state-of-the-art terminal buildings, auxiliary facilities, and the expansion of the 45-kilometer Suam-Kitale road to facilitate seamless transportation and trade between the two countries.

He acknowledged the collaborative nature of the project, commending Uganda's progress on its side of the border while expressing the Kenyan government's commitment to matching these efforts.

"We are aware that this project is a joint project between the two countries and there is what each country needs to do to have the project ready for commissioning," Kindiki said.

"We are aware that Ugandan side has made some good progress and are almost ready and therefore we came also to assess on the Kenyan side what has been done and what remains to be done, so that we can prepare for the commissioning of the project by the two heads of state at an appropriate time to be announced but hopefully very soon."

The CS lauded the milestones achieved so far, particularly the ongoing expansion of the Suam-Kitale road, which will further ease transportation and enhance trade efficiency upon completion.

The Suam OSBP is part of broader regional efforts to facilitate cross-border trade and strengthen economic ties within the East African Community.

Once operational, the facility is expected to significantly reduce delays, cut costs, and foster deeper integration between Kenya and Uganda, benefiting businesses and citizens on both sides of the border.

DP Kindiki was accompanied by Principal Secretary for Internal Security and National Administration Raymond Omolo, alongside other government officials.

Capital FM.

Ghana: President Mahama Pledges Economic Reset, Governance Reforms

President John Dramani Mahama has pledged to reset Ghana and transform its economy and governance structures.

He announced this during his swearing-in ceremony with his vice president, Prof. Naana Jane Opoku Agyemang in Accra on Tuesday.

"We need a reset with our faith in our country and our leadership. We need a reset with our faith in our institutions," he stated.

Mr Mahama stated that he would be decisive in his actions during his term as president of Ghana, despite the dire circumstances the country finds itself in.

According to him, these circumstances are a result of the changes in the current global landscape, disclosing that in 2023, the G7's combined total of world GDP was 30%, but by 2029, that number is predicted to drop to 27%. In 2023, the BRIC's percentage of world GDP was 37.3%,

He said that his government would focus on four critical areas to aid the reset agenda.

"The first is economic restoration and stabilisation of the macroeconomic environment. The second is the improvement of the business and investment environment to ensure that Ghana is once again open for business. The third is governance and constitutional reforms. And the final, but not the least, is accountability and the fight against corruption, "he outlined.

On health, Mr Mahama announced that his government would work diligently to strengthen the country's public health systems while monitoring the global health situation to ensure the minimal loss of lives in Ghana, should an epidemic or pandemic occur.

"Let us not forget the toll that the past epidemics of viruses like Ebola, COVID and M-pox had on the families and communities and medical infrastructure in several of our neighbouring countries and the sub-region," he emphasised.

Addressing the business community, President Mahama stated that, his government, together with the private sector and captains of business, would create decent and well-paying jobs.

He noted that the ambitions of the youth would drive the government's policies as he strives to create an inclusive, equitable society where everyone has a seat at the table, stressing that "Our vision hinges on the introduction and implementation of a 24-hour economy."

"As we embark on this new chapter, I assure you that our decisions will champion diversity in all facets of governance, ensuring that every Ghanaian, regardless of ethnicity, gender, age, religion or any background, will have the opportunity to contribute to our nation's story. Ghana's youth represent the heartbeat of our democracy," he promised.

This approach, according to him, would unlock the potential that has remained dormant for long, enabling the country to harness the energy and creativity of all our people.

"Just imagine a Ghana where our markets are alive and bustling at all hours of the day, with responsive public services accessible at all times such that businesses can operate flexibly to meet the diverse demands that they are subjected to. And young people, including entrepreneurs, can find opportunities regardless of traditional institutions," he quizzed.

The president announced that his government would look at the tax regime and rationalise it to be more transparent and fairer, assuring the business community that Ghana is open for business again.

Among the dignitaries that graced the swearing-in ceremony were heads of state from the Democratic Republic of Congo, Botswana, Liberia, Guinea Bissau, Kenya, Senegal, and Uganda. GhanaToday.

Namibia: Significant Rainfall Boosts Dam Levels Across Namibia

Widespread rains over Namibia have provided an early boost to dam levels in the new year.

Dams that have received an inflow of water during the past week include Hardap Dam near Mariental, Neckartal Dam near Keetmanshoop, the Von Bach, Swakoppoort and Omatako dams, which provide water to Windhoek, and dams in the Gobabis area, the Namibia Water Corporation (NamWater) reported yesterday.

Hardap Dam received an inflow of about 27.4 million cubic metres of water over the past week, while nine million cubic metres of water flowed into Neckartal Dam.

The inflow raised Hardap Dam's level from 5.5% of its storage capacity at the start of last week to 14.8% yesterday.

With an inflow of about 5.4 million cubic metres of water, Swakoppoort Dam's level increased from 15.9% at the start of last week to 24.4% yesterday.

Von Bach Dam received an inflow of 6 million cubic metres, raising its level from 10.7% on Monday last week to 23.5% yesterday.

The Von Bach, Swakoppoort and Omatako dams received a combined inflow of about 12.5 million cubic metres over the past week.

The main dam levels reported by NamWater yesterday, with the dams' readings at the corresponding time a year ago in brackets, are:

· Swakoppoort 24.4% (46%)

· Von Bach 23.5% (13.3%)

· Omatako 2.4% (empty)

· Hardap 14.8% (18.9%)

· Neckartal 77.8% (86.2%)

· Naute 29.7% (45.3%)

· Oanob 31.8% (47%)

· Dreihuk 6.7% (unavailable)

· Otjivero Main 1.5% (5.4%)

· Otjivero Silt 2.5% (empty)

· Tilda Viljoen 1.4% (16.7%)

· Daan Viljoen 11.2% (3.7%)

· Olushandja 38.8% (42.2%)

· Goreangab 133% (87%).

-Namibian.

Kenya: Salamair to Start Sh16,788 Nairobi-Muscat Direct Flights in Feb

Nairobi — Omani low-cost airline SalamAir plans to enter the Nairobi-Muscat flight route next month with a one-way ticket costing from Sh16,788.

The airline, which will operate two weekly flights, will see it offer 70 percent cheaper tickets than currently available fares.

"We are really thrilled to add Nairobi to our expanding network, marking a significant milestone in our expansion into the African market. Nairobi is not only a hub for international travelers but also a growing center for business, technology, and education, making it a vital link for those looking to connect with opportunities in both regions, emphasizing Nairobi's position as the key gateway to East Africa," SalamAir CEO Adrian Hamilton-Manns said.

"With Nairobi added to our network, we can now connect passengers from East Africa to India, Thailand, Central Asia, and other points on our network for very low fares."

Nairobi expansion is part of SalamAir's strategic growth plan of offering cheaper travel options to passengers.

"SalamAir is dedicated to a low-cost model and remains committed to offering affordable fares. Our approach to low-fare travel ensures that Nairobi, and more points in Africa and beyond, becomes accessible to everyone," Hamilton-Manns added.

SalamAir's expected entry into Kenya follows the entry of AirAsia X (AAX), the low-cost arm of AirAsia, a Malaysian airline, which made its inaugural flight from Kuala Lumpur to Nairobi in November 2025.

AirAsia X earlier said that it will operate four weekly flights on the Nairobi-Kuala Lumpur route, offering more than 156,000 seats annually, with fares starting at Sh25,685 (USD 199) for one-way tickets.-Capital FM.

Uganda: Luwero Stuck With Sh740 Million Debt for Road Works After Ramathan Ggoobi Declines to Pay

Luwero — Authorities in Luwero District are grappling with a sh740 million debt related to road works after the Ministry of Finance, Planning, and Economic Development rejected their request to settle the amount.

The debt dates back to 2014, when the district contracted Busenvi Enterprises Limited for sh522 million to construct three access roads--Kagembe-Kawumu-Mawale, Kagugo-Namyeso-Bakijjulula, and Mawu-Kasambya--under the District Livelihood Support Programme (DLSP).

However, the contractor exceeded the contract sum, carrying out works not captured in the bill of quantities. The district declined to pay for the extra costs. The contractor petitioned the Uganda Institute of Professional Engineers, which certified the works and directed Luwero to pay sh216 million and adjudication costs of sh5.2 million.

In 2016, High Court Judge Anna Mugenyi ordered the district to pay these costs and an annual interest of 26%. By 2024, the debt had accumulated to sh740,820,158. On October 2, 2024, the Luwero District Chief Administrative Officer (CAO) petitioned the Ministry of Finance to settle the debt, arguing that the project was executed by the Ministry of Local Government.

However, Ramathan Ggoobi, the Finance Ministry Permanent Secretary, declined the request. "In view of the above, you are advised to prioritize this payment using your local revenue collections over the medium term. The purpose of this letter is therefore to guide you as above," Ggoobi stated in a letter to the CAO.

In response, CAO Innocent Asaba Birekayaho described the guidance as "unfair" and revealed that he has written back to the Finance and Local Government Ministries to reconsider their position. "Although the contract was signed by the district, the executing agency was the Ministry of Local Government, which should cater for the court costs," he said.

Luwero District Chairman Erastus Kibirango expressed concern over the financial strain on the district. "The district runs a meager budget from local revenue, and paying it in court costs may cripple service delivery," Kibirango said. The district collects UGX 2.8 billion annually in local revenue, which has been allocated to other projects.

Busenvi Enterprises Limited has not commented on the delayed payment, but there are fears the contractor may resort to impounding official district vehicles to recover the money. In 2022, the contractor secured a garnishee order to freeze the district's Stanbic Bank account.

However, Lady Justice Mugenyi blocked the move, ruling that executing such an order on a government account containing consolidated funds for salaries would be illegal. "For that reason, whereas it's in the interest of justice that the appellant (contractor) be paid his outstanding debt, the only hiccup is the mode of execution, and the court won't sanction illegalities," the judge ruled.

-Independent (Kampala).

Liberia: NPA Boss in Faceoff With Senate Pro-Temp

Monrovia — All is not well between the Managing Director of the National Port Authority (NPA) Sekou A.M. Dukuly and Senate President Pro-Tempore, Nyonblee Kangar Lawrence.

The bad blood is brewing from a legislation making ports under the NPA autonomous much to the dislike of Director Dukuly, who expresses frustrations against Pro-Temp Kangar Lawrence over the passage of a bill that seeks to establish a Sea Port Authority that will grant autonomy to smaller ports across the country and in effect, scratch the power of the National Port Authority that he presently heads.

The Liberian Senate on Tuesday, November 19, 2024 controversially passed into law a bill seeking to create the Liberia Sea Port Regulatory Authority and the Liberia Sea Port Decentralization, thereby granting ports across the country autonomy.

The bill, when concurred by the House of Representatives, will provide for the regulation and sustainable development of Seaports and Inland Ports' operations and services in Liberia. It will also facilitate a safer, orderly, and transparent development of port facilities and services and other purposes.

The Senate made the decision following a recommendation by the Joint Committee on Public Corporation and Judiciary, Human Rights, Claims, and Petitions.

The bill is consistent with the decentralization strategy of the Government, which includes but is not limited to, decentralization of the Management and operation of the four seaports that had been managed by the National Port Authority, including the Freeport of Monrovia, the Port of Buchanan, Port of Greenville, and the Port of Harper, respectively.

However, speaking in an interview with The NEWDAWN over the weekend in his Office on Bushrod Island, Director Dukuly said arguments provided by the Senate for the enactment of the bill are marked with flaws and are incorrect, purely meant to support selfish desire of few people.

He names nobody but according to him, it's too early for the Senate to remove the rug from under his administration, being fully cognizant that ports in Liberia lack facilities and best practices to become self-sustainable.

He notes that after the decision was made by the Senate, he spoke with some senators, expressing his disagreement privately, why ports should not be granted autonomy.

"I have communication; I have discussed with lots of them and they will tell you I'm sorry; we just have to do it because we don't want to disagree with the Pro-Temp. Fine. Is that how you're going to make national decision because you don't want to disagree with the Pro-Temp? I will not gross [disrespect] you. But I can tell you that the arguments are flaws", Mr. Dukuly counters.

The NPA boss clarifies that he is not against outstation ports becoming autonomous; rather what he wants are facilities and infrastructures that are best suited with international standard and development to make them sustainable when granted autonomy.

MD Dukuly continues that he is frustrated over the way things are going and if he were to tell anyone that he is not stunned by those actions, he would be lying.

Providing suggestion for a potential mitigation of the process, he reveals that within coming days, he will engage the Executive and the Speaker of the House of Representatives since there is now a clarity on the speakership, concerning the bill and how it's not intended to boost job opportunity but rather to please some political actors.

"We were talking to the House before that leadership issue. Now, that it getting some clarity, we will be talking to the Speaker on where our positions are and we will talk to the President at the end of the day, who will make the final decision on what he wants. We trust his decision for the country. So, we leave it with the House."

He notes that there are even some legislators who don't understand there is a Port Director here in Monrovia, and some of them call him Port Director.

"But, at the end of the day, they made decision that they think is in the best interest of the country. So, do I believe their decision? Of course not. Now, our goal is to educate the Executive and make the President understands the overall establishment of the NPA. I think one thing that the President has stressed over and over is best practices. We are also going to be engaging the Speaker of the House of Representatives to make them understand that this is not about opportunity; rather, political point", Mr. Dukuly says.- New Dawn.

Rwanda: St. Louis Delegation Explores Investment Opportunities in Rwanda

Rwanda Development Board (RDB) Deputy CEO, Juliana Muganza, and other government officials on Monday, January 6, welcomed Rodney Boyd, head of a 15-member delegation from St. Louis, Missouri, United States, to Rwanda.

According to RDB, the visiting delegation is in the country "to explore business partnerships and investment opportunities across sectors such as research and development, technology transfer, education, health, and sports, as well as to establish the Kigali-St. Louis sister-city relationship."

The visit builds on engagements initiated during

the 23rd World Travel and Tourism Council (WTTC) Global Summit held in Kigali, last November.

Today, RDB Deputy CEO, @JulianaMuganza, alongside @RwandaGov officials, welcomed Mr. Rodney Boyd, head of a 15-member delegation from St. Louis, Missouri, United States. The delegation is in Rwanda to explore business partnerships and investment opportunities across sectors such... pic.twitter.com/j0cx6rstwI-- Rwanda Development Board (@RDBrwanda) January 6, 2025

- New Times.

OpenAI boss denies sister's allegations of childhood rape

OpenAI chief executive Sam Altman's sister, Ann Altman, has filed a lawsuit alleging that he regularly sexually abused her between 1997 and 2006.

The lawsuit, which was filed on 6 January in a US District Court in the Eastern District of Missouri, alleges that the abuse started when she was three and Mr Altman was 12.

In a joint statement on X, with his mother and two brothers, Mr Altman denied the allegations, saying "all of these claims are utterly untrue."

"Caring for a family member who faces mental health challenges is incredibly difficult," the statement added.

"This situation causes immense pain to our entire family."

In the filing, which has been seen by the BBC, Ms Altman alleged that the abuse, which took place over many years, included rape.

The lawsuit added the last instance of the alleged abuse took place when Mr Altman was an adult but she was still a minor.

The lawsuit requested a jury trial and damages in excess of $75,000 (£60,100).

Ms Altman has previously made similar allegations against her brother on social media platforms such as X.

Mr Altman is one of the technology world's most high profile figures.

In late 2022, OpenAI launched the ChatGPT generative artificial intelligence (AI) chatbot.-BBC

US launches probe of Tesla's 'smart summon' driverless tech

US safety regulators have opened an investigation of a Tesla feature that allows drivers to summon parked cars without being in the vehicle after numerous accidents were reported linked to the technology.

The National Highway Traffic Safety Administration said the Tesla cars operating in the "Actually Smart Summon" mode were reported to be unable to detect posts or parked cars.

The feature is in place on nearly 2.6 million cars made by Tesla since 2016, including its Model S sports car, Model 3 sedan, and Model X and Y sports utility vehicles.

Tesla did not immediately comment.

Boss Elon Musk has previously been an outspoken defender of Tesla's push into self-driving, arguing that it is more safe than regular driving and represents the future of transportation.

NHTSA said in this case, at least four crashes had been reported involving the Actually Smart Summon technology, which the company released in September and allows drivers to move their cars using their phones.

The agency said it was also aware of about a dozen other incidents involving its predecessor "Smart Summon".

None of the accidents that sparked this investigation led to injuries, NHTSA said.

But the probe is likely to raise new questions about the automated driving technology Tesla has made available to drivers across its fleet.

The electric car company is also facing NHTSA investigations of its wider autopilot features sparked by accidents, some of them fatal.

This probe is the first step in a process that can lead to a recall.

NHTSA said it would look into how fast cars can go while the Actually Smart Summon feature is in use and what restrictions are in place to prevent drivers from using it on public roads, among other issues.

Tesla's manual advises drivers that Actually Smart Summon is intended for use in private, familiar areas, like driveways and recommends a clear line of sight between the driver and the car.

It also says that Actually Smart Summon will be disabled on public roads.

The notice of the probe comes just weeks before Donald Trump, a close ally of Mr Musk, is poised to enter the White House. He was elected on a campaign platform that included promises to dramatically cut regulation and government spending.-BBC

Rolls-Royce factory to expand for more bespoke cars

Rolls-Royce Motor Cars A Rolls-Royce Phantom, Ghost, Cullinan and Spectre displayed on Festival’s Laundry Green, next to Goodwood HouseRolls-Royce Motor Cars

Luxury carmaker Rolls-Royce will expand its Goodwood factory and global headquarters to meet the growing demand for bespoke models.

It will invest more than £300 million so it can build more highly-customised versions of its cars for its super-rich clientele.

The 120-year old British brand came under full control of German carmaker BMW in 2003 and officially opened the site in West Sussex the same year. Rolls Royce says this expansion secures its future in the UK.

Rolls-Royce sold 5,712 cars in 2024, the third highest total in its history.

While that number may seem tiny compared with the millions of cars delivered each year by mainstream manufacturers, Rolls-Royce operates in a highly rarefied market.

The brand said it "does not disclose prices" but it is understood its cheapest model, the Ghost saloon, sells from about £250,000 upwards. Its Cullinan sports utility vehicle and electric Spectre models are thought to start at around £340,000.

In comparison, the average UK house price was £297,000 last year, according to Halifax.

The price of bespoke models can vary widely. When it comes to the most elaborate creations, the final product can cost several times the base price of the car.

There are relatively few buyers who can afford to pay so much for a car. Among those who can are celebrities, who often do not mind flaunting their wealth.

Among them are US stars Kim Kardashian and Nicki Minaj, as well as British rapper Stormzy who was banned from driving after being caught using a mobile phone behind the wheel of his Wraith in London.

'Holographic paint and one-off artworks'

For some customers, simply owning a Rolls-Royce isn't exclusive enough. In recent years, the company has increasingly focused on building highly-customised versions of its cars, which can then be sold at even higher prices.

Rolls-Royce describes this strategy as "creating value for clients through individualised products and experiences and providing opportunities for meaningful personal expression".

In practice, this has included cars with holographic paint, containing one-off artworks, or featuring intricate hand-stitched embroidery. One model, designed as a homage to the 1964 James Bond film Goldfinger, includes features made out of solid 18-carat gold.

Rolls-Royce is not alone in this. Other high-end manufacturers such as Bentley, McLaren and Ferrari also offer detailed customisation.

But making individually tailored cars, while profitable, is a labour-intensive process that requires time and space. At the same time, like other manufacturers the company is preparing for a future in which conventional cars will be phased out and replaced by electric models.

Rolls-Royce said the extension of its factory would "create additional space for the increasingly complex and high value bespoke and coachbuild projects sought by clients who define luxury as something deeply personal to them".

It added that the plan would "also ready the manufacturing facility for the marque's transition to an all-battery electric vehicle future".

The carmaker has already been granted planning permission for the expansion of the Goodwood plant, which was built in 2003 and initially housed 300 workers. There are currently more than 2,500 people working on the site.

"This represents our most substantial financial commitment to Goodwood since its opening," said the Rolls Royce chief executive, Chris Brownridge.

"It is a significant vote of confidence in the Rolls-Royce marque, securing our future in the UK," he added.

Rolls-Royce Motor Cars An aerial view of Rolls-Royce's Goodwood site in West Sussex with a sunburst and reflection on its lakeRolls-Royce Motor Cars

As a luxury carmaker focused on export markets, Rolls-Royce is insulated from many of the challenges currently facing the wider European motor industry. However, it has been affected by a fall in demand in China, one of its most important markets.

Earlier this year, Mr Brownridge said rising demand for personalised vehicles was helping to offset that decline.

The announcement comes weeks after another famous British brand generated controversy while setting out its own plans for the future.

Jaguar – a part of Jaguar Land Rover – is to be relaunched as an all-electric marque and moved sharply upmarket as part of a major restructuring at the company.

In December, it unveiled a dramatically styled concept car, which together with a new logo and a divisive online advert sparked a social media storm – and generated plenty of column inches.-BBC

 Invest Wisely!

Bulls n Bears 

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

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

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

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

Twitter (X):        @bullsbears2010

LinkedIn:           Bulls n Bears Zimbabwe

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

INVESTORS DIARY 2025

Company

Event

Venue

Date & Time

Companies under Cautionary

CBZH

GetBucks

EcoCash

Padenga

Econet

RTG

Fidelity

TSL

FMHL

 <mailto:info at bulls.co.zw> 

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

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

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250108/cbe92f93/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250108/cbe92f93/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 29356 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250108/cbe92f93/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 29321 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250108/cbe92f93/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250108/cbe92f93/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 29353 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250108/cbe92f93/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65553 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250108/cbe92f93/attachment-0001.obj>