Major International Business Headlines Brief::: 16 January 2025

Thu Jan 16 11:25:44 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:::  16 January 2025 

 <mailto:info at bulls.co.zw> 

ü  Ethiopia: GERD Requires Additional 80 Billion Birr Despite 97.6 Percent Completion

ü  Africa: AU Adopts Ten-Year Strategy to Transform Africa's Agri-Food Systems and Enhance Food Security

ü  Ethiopia: Addis Abeba Trade Bureau Targets Fuel Stations Causing 'Unnecessary Queues,' Warns of Legal Action for Noncompliance

ü  Kenya's Horticulture Exports Down to $1.06bn in 2024

ü  Kenya: NTSA Proposes Additional Measures to Enhance the Safety of School Transport

ü  Kenya: Mutua Urges Caution Against Fake Recruitment Firm

ü  Nigeria: CBN Sanctions 9 Banks for Failing to Dispense Cash At ATMs

ü  Kenya: Jubilee Health Opens First Agency Office to Bridge Insurance Gap

ü  Nigeria: Stock Market Drops By N1.06trn On Profit-Taking in Dangote Cement, 40 Others

ü  African Development Bank Launches Pioneering Energy-Efficiency Project in Senegal

 <mailto:info at bulls.co.zw> 

Ethiopia: GERD Requires Additional 80 Billion Birr Despite 97.6 Percent Completion

Addis Abeba — The Grand Ethiopian Renaissance Dam (GERD) project requires an additional 80 billion Birr to complete its remaining construction work, despite reaching 97.6% completion, according to the GERD Project Coordination Office.

Launched 14 years ago with an initial estimated cost of 80 billion Birr, the project still faces a significant financial gap to finalize the remaining 2.4% of the work.

Speaking to Sheger Radio, Dawit Amare, a Director at the Development Bank of Ethiopia (DBE), which oversees GERD bond sales, confirmed the funding gap but noted that "specific figures are best provided by the GERD Project Coordination Office."

Dawit further disclosed that over 20.2 billion Birr has been collected through bond sales from the public to date, with the Development Bank contributing an additional 10 million Birr to support the project.

Meanwhile, the GERD Project Coordination Office has set a goal of raising 1.6 billion Birr from public contributions this year to help address the funding shortfall.

Addis Standard.

Africa: AU Adopts Ten-Year Strategy to Transform Africa's Agri-Food Systems and Enhance Food Security

Nairobi — The African Union (AU) has adopted a new agricultural development strategy aimed at increasing the continent's agri-food output by 45 percent by 2035, transforming agri-food systems.

The decision follows the African Union Extraordinary Summit on the Post-Malabo Comprehensive Africa Agriculture Development Programme (CAADP), held in Kampala, Uganda.

The summit endorsed the 10-year CAADP Strategy and Action Plan, alongside the Kampala CAADP Declaration on Building Resilient and Sustainable Agri-Food Systems in Africa, set for implementation between 2026 and 2035.

"In the Kampala declaration, the 55 AU member states set forth six commitments that should transform and strengthen the agri-food system on the continent," the AU stated.

The heads of state and government noted Africa's projected population growth to 2.5 billion by 2050, emphasizing the need for increased agricultural production, productivity, food processing, and trade to meet future food demand.

They pledged to intensify sustainable food production, agro-industrialization, and trade.

The strategy includes ambitious targets such as reducing post-harvest losses by 50 percent, tripling intra-African trade in agri-food products and inputs by 2035, and increasing the share of locally processed food to 35 percent of agri-food GDP by 2035.

Ugandan President Yoweri Kaguta Museveni urged African leaders to promote value addition, asserting that the continent must move away from dependency on food imports.

"This Africa of having no food and begging is not the real Africa, but the colonial and neo-colonial Africa. It is a shame. The battle for value addition has been a big one because lobbies want to keep Africa as a raw-materials-producing continent," Museveni said.

"Adding value to agricultural products ensures vertical integration in the agricultural sector--from the garden to the table and from the farm to the wardrobe," he said.

He also called for the elimination of non-tariff barriers (NTBs), which he said disrupt agricultural production.

"Uganda easily produces all types of agricultural products. However, production is disrupted when some brother countries say they have bumper crops and delicense Ugandan products", he added.

African Union Commission (AUC) Chairperson Moussa Faki Mahamat expressed concern about the slow progress of the CAADP Programme, implemented since 2014 under the Malabo Declaration.

"The various biennial evaluations of the commitments made by Member States, initiated in 2017 under this declaration, certainly show progress towards achieving the set objectives, but at an unsatisfactory pace," Faki said.

He commended the preparatory work by the African Union Commission, AUDA-NEPAD, Regional Economic Communities, member state experts, and partners in drafting the Kampala Declaration.

Ethiopian President Taye Atske Selassie emphasized the urgent need for collective commitment and action to achieve Africa's vision for a food-sovereign and prosperous continent.

AU Commissioner for Agriculture, Rural Development, Blue Economy, and Sustainable Environment, Amb. Josefa Sacko, described the Kampala Declaration as distinct from the Malabo and Maputo declarations due to its comprehensive strategy and action plan.

"We now have a clear roadmap, a theory of change that outlines the pathway to transformation, realistic and implementable strategic objectives, a broad policy scope enhancing food system approaches, and targets that reflect the continent's aspirations," she said

The Comprehensive African Agricultural Development Programme (CAADP) is a cornerstone of the AU's Agenda 2063, aimed at raising agricultural productivity, increasing public investment in agriculture, and stimulating economic growth through agriculture-led development to eliminate hunger and reduce poverty across Africa.

Capital FM.

Ethiopia: Addis Abeba Trade Bureau Targets Fuel Stations Causing 'Unnecessary Queues,' Warns of Legal Action for Noncompliance

Addis Abeba — The Addis Abeba Trade Bureau has issued a warning that it will take action against fuel stations responsible for creating unnecessary queues, following the recently approved proclamation by the parliament with the aim of regulating the petroleum products trade system.

During a press briefing held on 14 January, 2025, Habiba Siraj, head of the Bureau, underscored that legal measures would be taken against stations engaging in practices such as selling fuel exclusively for cash, artificially creating shortages, or failing to operate on a full-time basis.

She highlighted that, on average, 2 million liters of diesel and 1.45 million liters of gasoline, amounting to a total of approximately 3.45 million liters of fuel per day, have been supplied to 125 fuel stations across the city over the past six months.

"There had been no fuel shortages in the city over the past six months," Habiba stated.

The Bureau's head further disclosed that legal action had already been taken against nine fuel stations found selling fuel improperly. Habiba added that some stations were caught smuggling fuel abroad and conducting transactions exclusively in cash.

"As part of the enforcement measures in the past six months, 18,985 liters of gasoline, 9,434.5 liters of diesel, and 189 liters of white gas were seized," she explained.

Addis Standard.

Kenya's Horticulture Exports Down to $1.06bn in 2024

(Xinhua) -- Kenya's horticulture export earnings declined in 2024 due to reduced shipments to key markets in Europe and Asia, a government official said Tuesday.

The East African nation earned 137 billion shillings (about 1.06 billion U.S. dollars) from horticulture exports in 2024, down from 1.21 billion dollars in 2023, said Kipronoh Ronoh Paul, principal secretary of the State Department for Agriculture in the Ministry of Agriculture and Livestock.

Speaking in Nairobi, the capital of Kenya, Ronoh said the drop was due to a stronger Kenyan shilling, which made exports more expensive and dampened demand. He also noted the challenges stemming from insecurity in the Red Sea that forced horticulture exporters to use alternative routes.

"The change of export routes not only lengthened transit times for those highly perishable products but also increased airfreight costs," Ronoh said.

Kenya's main horticulture exports include vegetables, fruits and cut flowers. While vegetables account for the largest shipment volume, flowers, primarily sold in Europe, generate the bulk of the revenue.

Despite steady growth in recent years, Ronoh said that the industry faced significant hurdles in 2024, such as climate change, high production costs, pests and diseases, market competition, and stringent regulatory requirements in export markets, which negatively impacted the performance.

Okisegere Ojepat, chief executive officer of the Fresh Produce Consortium of Kenya, called for market diversification to mitigate reliance on traditional destinations in Europe, where shifting standards have limited Kenya's export opportunities.

"We need to embark on market and product diversification to reduce overdependence on a narrow range of products and destinations," Ojepat said.

Capital FM.

Kenya: NTSA Proposes Additional Measures to Enhance the Safety of School Transport

Nairobi — The National Transport and Safety Authority (NTSA) has proposed new measures aimed at improving children's safety as they board and disembark from school buses.

NTSA revealed plans to introduce crossing guards at designated locations among key measures.

The guards will be responsible for directing, controlling, and managing traffic in areas where students enter or exit schools or at designated pedestrian crossings.

The Authority also proposes vehicle attendants in school transport vehicles to assist students during embarking and disembarking.

"Pick-up and drop-off hours within school zones can be very dangerous for children, and measures must be taken to safeguard their safety," NTSA said on Wednesday.

Stop signals

Additionally, NTSA proposes equipping school buses with a reflectorized red 'stop signal arm' at the front and rear for vehicles longer than 30 feet.

The 'stop signal arm' is a device that extends outward from the side of a school bus to signal other motorists to stop while students are boarding or alighting.

"Motorists will be expected to stop until the arm folds away and the lights stop flashing," NTSA added.

NTSA proposed in the Draft Traffic (School Transport) Rules 2024 that anyone who fails to stop for a school bus would be guilty of an offense and, upon conviction, would face suspension of their driving license for at least six months.

Also proposed, is a requirement that all school transport vehicles be equipped with at least one fire extinguisher conforming to applicable standards, readily accessible for use.

Furthermore, all school buses are to be fitted with a vehicular telematics system, including a passenger-facing camera.

The buses will also be required to display the words 'SCHOOL BUS' on both the front and rear.

Additionally, the rear of the buses must include the words 'DO NOT PASS WHEN RED LIGHTS ARE FLASHING' in block letters at least 8 inches tall in black.

Capital FM.

Kenya: Mutua Urges Caution Against Fake Recruitment Firm

Labour Cabinet Secretary Alfred Mutua has warned Kenyans to be cautious of a company named CSC Compliancy, which has been identified as fake.

In a statement issued on Wednesday, CS Mutua stated that the company is not registered among the organizations recruiting Kenyans for overseas jobs.

The CS further noted that CSC Compliancy has not uploaded any job advertisements and that its activities are unknown to the ministry.

"The company CSC Compliancy is fake and unregistered. It has not uploaded any job demands, and its activities are unknown to us," Mutua said.

Mutua indicated that the matter had been forwarded to the Directorate of Criminal Investigations (DCI) alongside his compliance team for investigation.

"We are dispatching our compliance team and the Directorate of Criminal Investigations (DCI) to take necessary action," he added.

Kenyans seeking employment through CSC Compliancy have been advised to exercise caution and avoid engaging with the company until it is officially cleared by the National Employment Authority (NEA).

"Do not engage with this company until it is officially cleared by the National Employment Authority (NEA)," Mutua advised.

In its advertisements, CSC Compliancy, allegedly based in Dubai, United Arab Emirates (UAE), had posted various job openings, including waiters and waitresses, cleaners, logistics assistants, chefs, technicians, pest controllers, drivers, storekeepers, cashiers, bakers, butchers, bartenders, lifeguards, cooks, salad makers, and other roles.

Applicants were required to submit a curriculum vitae, a valid passport copy, and a recommendation letter, among other documents. Shortlisted candidates were scheduled for interviews on January 15, 2025.

Capital FM.

Nigeria: CBN Sanctions 9 Banks for Failing to Dispense Cash At ATMs

The Central Bank of Nigeria (CBN) has sanctioned nine Deposit Money Banks (DMBs) with a cumulative fine of ₦1.35 billion for failing to dispense naira notes through Automated Teller Machines (ATMs) during the Yuletide period.

Each of the banks was fined ₦150 million for violating the CBN's cash distribution guidelines. The penalties followed spot checks conducted at various branches of the affected banks, revealing their non-compliance.

The sanctioned banks include Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union Bank Plc, Globus Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, and Sterling Bank Plc.

Confirming the development, the acting Director of Corporate Communications at the CBN, Mrs. Hakama Sidi Ali, stated that the fines would be directly debited from the accounts of the defaulting banks with the apex bank.

"The CBN will not hesitate to impose further sanctions on any institution found violating its cash circulation guidelines," she said.

Mrs. Ali emphasised that the CBN's monitoring efforts would continue, with investigations aimed at exposing cash hoarding and rationing practices at bank branches and by Point-of-Sale (POS) operators.

"The Central Bank is working with security agencies to crack down on illegal cash sales and operational violations, including enforcing the daily cumulative withdrawal limit of ₦1.2 million for POS operators," she added.

The enforcement action came on the heels of repeated warnings from the CBN to financial institutions to ensure seamless cash availability, particularly during periods of high demand.

LEADERSHIP reports that CBN Governor, Olayemi Cardoso, had earlier cautioned banks to adhere strictly to cash distribution policies or face stringent penalties. Speaking at the Annual Bankers' Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in November 2024, he reaffirmed the CBN's commitment to ensuring efficient cash circulation across the financial system.

"Our focus remains on fostering trust, ensuring stability, and guaranteeing seamless cash circulation across the financial system," Cardoso stated.

Content Writer/Digital JournalistI am a dedicated reporter at Leadership Newspaper, where I bring a keen eye for detail and a passion for storytelling to a diverse range of topics, including business, sports, politics, and international affairs. My work aims to provide readers with accurate, timely, and engaging reports that break down the complexities of current events.

>From covering high-profile political shifts and court cases to exploring the latest in economic developments and sporting events, I strive to offer insightful and comprehensive coverage. My stories include in-depth analyses of economic trends, detailed political reports, and human interest pieces that highlight significant global and local events.

I am committed to delivering news that informs and fosters a deeper understanding of the issues shaping our world. My goal is to engage readers with well-researched and thought-provoking content

Leadership.

Kenya: Jubilee Health Opens First Agency Office to Bridge Insurance Gap

Nairobi — Jubilee Health Insurance Limited (JHIL) has launched its inaugural Center of Excellence and Agency Office at the Jubilee Exchange building on Mama Ngina Street, Nairobi.

This initiative seeks to address Kenya's low insurance penetration rate, currently at 2.3 percent of GDP, by empowering agents to enhance awareness and deliver tailored health insurance solutions nationwide.

"This office is more than a working space; it is a launchpad for agents' growth and success," said Njeri Jomo, CEO of Jubilee Health Insurance.

The Center of Excellence will serve over 3,000 agents, offering access to training facilities, client meeting spaces, operational support, and advanced digital tools.

The professional environment aims to increase efficiency, collaboration, and agents' ability to meet the rising demand for affordable healthcare solutions.

The move underscores JHIL's commitment to breaking barriers to healthcare access while supporting agents with tools for success.

Jubilee Health Insurance remains a leader in East Africa, providing affordable and innovative healthcare solutions for individuals, families, and businesses.

Capital FM.

Nigeria: Stock Market Drops By N1.06trn On Profit-Taking in Dangote Cement, 40 Others

The Nigerian stock market yesterday saw continued profit-taking, as the market capitalisation declined by N1.06 trillion driven by the losses in Dangote Cement Plc and 40 others.

As the stock price of Dangote Cement depreciated by 9.98per cent, the Nigerian Exchange Limited All-Share Index (NGX ASI) lost 1,745.16 basis points or 1.66 per cent to close at 103,622.09 basis points, with the Year-to-Date returns moderated to +0.7per cent.

Also, market capitalisation declined by N1.06 trillion to close at N63.188 trillion from N65.252trillion the stock market opened for trading.

Analysing by sectors, the NGX Industrial Goods Index depreciated by five per cent, NGX Insurance Index was down by 2.8per cent, NGX Consumer Goods Index decreased by 0.3per cent, and NGX Banking index plummets by 0.1per cent while the NGX Oil & Gas gained 0.3 per cent, the sole gainer.

As measured by market breadth, market sentiment was negative, as 23 stocks gained relative to 41 losers. Northern Nigeria Flour Mills (NNFM) emerged the highest price gainer of 10 per cent to close at N45.10, per share. Livestock Feeds followed with a gain of 9.91 per cent to close at N6.10, while Academy Press advanced by 9.90 per cent to close at N3.22, per share.

University Press rose by 9.82 per cent to close at N4.81, while NEIMETH International Pharmaceuticals appreciated by 9.76 per cent to close at N3.15, per share. On the other side, Honeywell Flour Mills led others on the losers' chart with 10 per cent to close at N9.54, while Julius Berger and Dangote Cement followed with a decline of 9.98 per cent each to close at N139.80 and N431.00 respectively, per share.

Sovereign Trust Insurance lost 9.68 per cent to close at N1.12, while Prestige Assurance depreciated by 9.30 per cent to close at N1.17, per share.

The total volume traded rose by 1.1 per cent to 511.157 million units, valued at N12.759 billion, and exchanged in 13,052 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) led the activity with 54.352 million shares worth N3.152 billion. Nigerian Breweries followed with account of 32.198 million shares valued at N1.029 billion, while Universal Insurance traded 30.822 million shares valued at N22.558 million.

AIICO Insurance traded 26.586 million shares worth N47.172 million, while Chams Holding Company traded 19.945 million shares worth N40.901 million.

This Day.

African Development Bank Launches Pioneering Energy-Efficiency Project in Senegal

The African Development Bank has approved an €8.51 million loan for Senegal's "Programme to Promote Efficient Lighting Lamps" (PPLEEF), a trailblazing initiative to advance energy efficiency in the country. This marks the Bank's first fully dedicated demand-side energy efficiency investment project, setting a new benchmark for sustainable development across Africa.

The PPLEEF initiative is poised to transform energy usage in Senegal, benefiting nearly 700,000 households and 80,000 small businesses across Dakar, Thiès, and Diourbel regions. By replacing outdated incandescent bulbs with modern LED lighting, the project will deliver substantial energy savings, reduce electricity costs, and significantly cut carbon emissions. Central to the initiative is its innovative on-bill financing model, which enables consumers to repay the cost of the new lighting through monthly energy savings. This model ensures the program is both accessible and affordable for all participants.

Jalel Chabchoub, Chief Energy Efficiency Officer in the Renewable and Energy Efficiency Department at the African Development Bank, highlighted the broader significance of the initiative: "The PPLEEF is a milestone for Senegal's national commitment to sustainable development and universal energy access. This program will reduce energy demand and consumption during peak hours, and the on-bill financing approach will be used subsequently to introduce more efficient appliances. As the first phase of Senegal's general lighting program, PPLEEF will pave the way for a more sustainable energy future not only in Senegal but across Africa."

Beyond its immediate benefits to Senegal, the PPLEEF is a replicable and scalable model for other African nations. By reducing energy consumption, the program delays the need for costly investments in new power plants, particularly during periods of peak demand.

"This project will have a positive impact on household and small business budgets by reducing their energy bills," said Mame Coumba Ndiaye, General Director of Senegal's Agence pour l'Économie et la Maîtrise de l'Énergie (AEME). "It will relieve the grid with annual electricity savings of more than 189 GWh. These savings will be redirected to reinforce electricity availability and improve access for the population," she stated.

>From 2019 to 2024, the Bank committed approximately $6 billion to energy projects across Africa.

With the launch of the PPLEEF and the momentum of the 'Mission 300' initiative, jointly launched by the African Development Bank and the World Bank Group, alongside other partners, Africa is taking significant strides toward closing its energy access gap. These efforts underscore a growing commitment to sustainable development and energy equity across the continent.

African Development Bank (AfDB).

 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/20250116/dfb4eebf/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/20250116/dfb4eebf/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/20250116/dfb4eebf/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/20250116/dfb4eebf/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/20250116/dfb4eebf/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 29329 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250116/dfb4eebf/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65574 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250116/dfb4eebf/attachment-0001.obj>