Major International Business Headlines Brief::: 21 January 2025

[Bulls n Bears]

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Major International Business Headlines Brief:::  21 January 2025 

 


 


 


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ü  Liberia, Morocco Sign 15 Landmark Agreements to Strengthen Bilateral Ties

ü  Kenya: Youth, Women, and PWDs Get Sh4bn Kenya Power Tenders

ü  Nigeria: $6bn Mambilla Power Contract Deal - Sunrise CEO Testifies in
Paris Court Today

ü  NIPDB Transitions to Strategic Investment Approaches

ü  Nigeria: Low Turnout As NAHCON Announces 2025 Hajj Fare

ü  Nigeria: Vandals Responsible for Buguma Wellhead Fire - NNPC

ü  Nigeria: EFCC to Auction 891 Forfeited Vehicles

ü  Rwanda: What's Next for Rwanda, Togo Cooperation?

ü  South Sudan: Kenya, UAE Discuss Extending Railway to Uganda and South
Sudan

ü  Uganda's Military Took Over Public-Sector Construction. Private
Contractors Are Reeling.

ü  South Africa: Eskom to Reach 300 Days of No Load Shedding At Midnight

ü  Malawians Struggle As Skyrocketing Fuel Prices Worsen Economic Hardships

 


 <mailto:info at bulls.co.zw> 

 


 

y  uLiberia, Morocco Sign 15 Landmark Agreements to Strengthen Bilateral
Ties

The Minister of Foreign Affairs, Sara Beysolow Nyanti, and her Moroccan
counterpart, Nasser Bourita, signed a series of bilateral agreements on
Friday, January 17, 2025, marking a new chapter in the growing partnership
between the Kingdom of Morocco and the Republic of Liberia.

 

The signing ceremony, which also featured the issuance of a Joint
Communiqué, underscored the shared commitment of both nations to fostering
mutual development and cooperation.

 

According to a Foreign Ministry dispatch from Morocco, during the event,
Foreign Minister Nyanti expressed heartfelt gratitude for the pivotal role
played by His Majesty King Mohammed VI in advancing the Third Joint
Commission between the two nations.

 

 

This commission aims to bolster cooperation in critical areas, including
technical assistance, healthcare system improvements, agriculture and
agribusiness, human resource development, and the promotion of good
governance.

 

Additionally, Foreign Minister Nyanti highlighted Morocco's commitment to
providing scholarships and vocational training opportunities for Liberian
students, which she described as a cornerstone for sustainable development.

 

In her remarks, Foreign Minister Nyanti applauded His Majesty King Mohammed
VI for his unwavering support in strengthening the bilateral relationship
between Morocco and Liberia. She noted the significant progress achieved
over the years in deepening ties of friendship and cooperation, citing the
opening of the Moroccan Embassy in Liberia as a symbol of renewed hope and
mutual respect.

 

For his part, Moroccan Foreign Minister Bourita praised the alignment of the
two countries' developmental goals and emphasized the importance of
exploring new opportunities for economic growth and cooperation. He affirmed
Morocco's commitment to innovative partnerships and sustainable investments
that could transform the economic landscapes of both nations and extend
benefits to the broader Mano River Union region.

 

Foreign Minister Bourita further pledged Morocco's unwavering support for
Liberia's candidacy for a non-permanent seat on the United Nations Security
Council for the 2026-2027 term.

 

Both ministers expressed admiration for the enlightened leadership of His
Majesty King Mohammed VI and Liberian President H.E. Joseph Nyuma Boakai,
Sr., whose shared vision has fostered deeper ties of fraternity and
traditional friendship. They reaffirmed their dedication to promoting peace,
sustainable development, and economic growth through enhanced bilateral
cooperation.

 

The Joint Communiqué issued at the conclusion of the ceremony outlined a
shared vision for developing trade and investment promotion between the two
nations. It emphasized the aspiration to establish a robust economic
partnership built on international cooperation mechanisms and mutual
benefits, including plans to facilitate partnership between the Port of
Monrovia and Tangiers Port in Morocco.

 

Furthermore, the communiqué reaffirmed the commitment of Morocco and Liberia
to diversifying their areas of collaboration to include emerging and
promising sectors. Both sides agreed to continue working closely to
consolidate their bilateral relations and foster mutual prosperity.

 

This historic event represents another milestone in the enduring partnership
between Morocco and Liberia. It also reflects the two nations' collective
determination to build a future defined by shared goals, mutual respect, and
innovative development strategies.

 

The 15 bilateral agreements signed serve as a testament to the strong and
enduring bonds between the Kingdom of Morocco and the Republic of Liberia,
setting the stage for a brighter and more prosperous future for both
nations. It can be recalled that in 2024, Morocco reopened its embassy in
Monrovia, further strengthening the ties between the two nations.

 

Liberian Observer.

 

 

 

 

 

 

Kenya: Youth, Women, and PWDs Get Sh4bn Kenya Power Tenders

Nairobi — Kenya Power has awarded tenders worth Sh4.15 billion to businesses
owned by youth, women, and persons with disabilities (PWDs) during the
financial year 2023/2024, surpassing the initial target of Sh3.2 billion.

 

Youths took the lion's share, securing Sh3.8 billion worth of tenders,
followed by women-owned businesses at Sh324 million and PWDs at Sh1.3
million.

 

In the 2023/2023 fiscal year, only Sh472 million worth of tenders were set
aside for the above groups.

 

Kenya Power's General Manager for Supply Chain and Logistics, John Ngenyo,
attributed the achievement to the company's ongoing efforts to engage and
educate these special interest groups on how to participate in procurement
processes.

 

 

"We sustained education forums for youth, women, and persons with
disabilities on how to navigate our procurement system," he said.

 

"These efforts have contributed to a steady increase in Access to Government
Procurement Opportunities (AGPO) uptake over the years, and we are hopeful
that more Kenyans will become aware of and benefit from these
opportunities."

 

The AGPO tenders awarded by Kenya Power primarily include non-technical
works, such as the supply of locally available materials, common user items,
services, and even cleaning contracts.

 

To facilitate greater participation, the utility firm adds that it continue
collaborating with financial institutions to provide financial support for
these groups.

 

Additionally, the company plans to expand its sensitization efforts through
workshops, pre-bid conferences, and improved publicity of available AGPO
opportunities.

 

Capital FM.

 

 

 

 

 

Nigeria: $6bn Mambilla Power Contract Deal - Sunrise CEO Testifies in Paris
Court Today

The Chairman/CEO of Sunrise Power, Leno Adesanya, will today testify before
the International Chamber of Commerce (ICC), Paris, France, in connection
with the $2.3 billion arbitration proceedings his company filed against
Nigeria over an alleged breach of contract by the federal government.

 

Yesterday, Daily Trust reported that former presidents Olusegun Obasanjo and
Muhammadu Buhari would also testify before the ICC.

 

Sunrise, on October 10, 2017, started the arbitration against Nigeria at the
ICC, Paris, seeking a $2.354 billion award for "breach of contract" in
relation to a 2003 agreement to construct the 3,050 megawatt plant in
Mambilla, Taraba State, on a "build, operate and transfer" basis valued at
$6 billion.

 

 

A former Minister of Power, Works and Housing, Babatunde Fashola, in 2017,
had described Sunrise Power as a middleman.

 

The minister had said the Buhari administration was directly contracting the
Engineering, Procurement and Construction (EPC) contractor, Sinohydro
Corporation Limited, a Chinese firm, currently handling the project.

 

After several negotiations, a former Minister of Power, Sale Mamman, had, in
2020, reportedly said the parties had reached an out-of-court settlement of
$200 million.

 

The court battle took a new turn when Sunrise later filed a $400 million
compensation claim at the ICC against the government for breaching the new
agreement.

 

The company had said the sum was to serve as an out-of-court settlement
which the government allegedly failed to honour as it had agreed to pay in
14 days after it was signed by a former Attorney-General of the Federation
and Minister of Justice, Abubakar Malami and Sale Mamman for the government
and the Chairman/CEO of Sunrise Power, Leno Adesanya.

 

The company's legal representative, Femi Falana, then filed a lawsuit at the
International Court of Arbitration on May 11, demanding $400 million as
overall claims, including penalties.

 

According to Sunrise in its claim document, the amount was to be paid
"within 14 days" of the execution of the terms of the agreement on January
21, 2020, along with a 10 per cent penalty if there is a default in the
settlement terms.

 

The company had also said it was agreed in the pact signed that it would be
restored as the local partner for the current $5.8 billion Mambilla power
project.

 

A follow-up on this showed that the pact was revised and the local partner
condition was removed. The federal government later requested a review of
the negotiation, citing the COVID-19 pandemic effects on the Nigerian
economy.

 

 

Daily Trust.

 

 

 

 

NIPDB Transitions to Strategic Investment Approaches

Windhoek — The Namibia Investment Promotion and Development Board (NIPDB)
has transitioned to a proactive investment strategy, focusing on targeted
global engagement. By carefully selecting international markets and
partners, NIPDB has significantly enhanced its outreach, attracting 54
business delegations from key regions like Germany, UAE, and China in 2024.
This shift ensures each mission is purpose-driven, aligning with Namibia's
specific investment priorities for long-term growth.

 

In addition to attracting foreign investment, NIPDB has strengthened its
support for local businesses, particularly MSMEs, through partnerships with
organizations like Coca-Cola Beverages Africa Namibia and Sanlam Namibia. A
notable success was the 3rd AU MSME Forum, which highlighted Namibia's
growing entrepreneurial ecosystem and secured global recognition for the
High Potential Pool program. These efforts demonstrate NIPDB's commitment to
fostering a sustainable and inclusive economic environment.

 

These purpose-driven missions are designed to yield tangible results,
including increased international delegations visiting Namibia, aligning
with NIPDB's commitment to driving meaningful investment for sustainable
economic growth.

 

 

 

 

Nigeria: Low Turnout As NAHCON Announces 2025 Hajj Fare

The announcement of the 2025 Hajj fare by the National Hajj Commission of
Nigeria (NAHCON) was yesterday greeted with mixed reactions from
stakeholders and intending pilgrims, Daily Trust can report.

 

This is just as there is a low turnout of people registering for the 2025
Hajj less than a month before the deadline given by NAHCON.

 

Intending pilgrims who spoke with Daily Trust, yesterday said the
announcement of fare by NAHCON came rather too late, saying they had thought
the Hajj fare would be around N10m and they had diverted the money to other
things.

 

NAHCON had announced fare for the 2025 Hajj pegging it at N8.7million for
intending pilgrims in the South and N8.3million for those in the North.

 

 

The Chairman of NAHCON, Prof. Abdullahi Saleh Usman, said the commission
exerted lots of efforts to ensure the Hajj fare did not go beyond N9million.

 

In an interview with BBC Hausa, the chairman said the fare was kept at
N8.3million for intending pilgrims from Borno and Adamawa zone, N8.4million
for those in the Northern zone and N8.78million for those in the southern
states following extensive discussions with the authorities in Saudi Arabia.

 

Initially, we were worried that this year's hajj seat fee could go up to N10
million or more, but with God's help and consultations with those who assist
pilgrims in Saudi Arabia, we were able to make it easier.

 

Prof. Abdullahi also announced the final deadline for payment of Hajj seat
fee for 2025, stating, "Any pilgrim who does not pay by February 5, 2025,
should consider deferring their participation to next year.

 

"We have an agreement with the Saudi authorities, where we set a deadline
for payment to make necessary arrangements. So if someone does not pay by
February 5, which is the final deadline, they will have to wait for the 2026
Hajj season."

 

Meanwhile, a statement by NAHCON's Assistant Director, Information and
Publication, Fatima Sanda Usara, noted that the fare was announced sequel to
approval from the Office of the Vice President of the Federal Republic of
Nigeria.

 

Findings by Daily Trust across the country showed low turnout of intending
pilgrims even as many had to suspend the plan with the fear that the fare
could exceed N10m.

 

A highly placed source told our correspondent that only about two states in
the North have close to 1000 intending pilgrims who are about completing the
payment process.

 

The source, an official of one of the state Muslim pilgrims' boards
confirmed the low turnout to our correspondent. He however said they are
hoping that with the announcement of the actual fare by NAHCON, the turnout
would increase in a few days.

 

A pilgrim who performed the Hajj last year who identified himself as Alhaji
Ayuba said the announcement from NAHCON came too late.

 

Also in Lagos, the turnout of pilgrims has been extremely low as many of
them were said to be awaiting the final Hajj fare.

 

As of yesterday, only about 500 have paid, according to a credible source
who confirmed that many people actually collected forms.

 

Only 200 intending pilgrims for this year's Hajj have registered with the
Taraba State Muslim Pilgrims Welfare Board even as the state was allocated
1400 seats. Hamza Baba Muri, Public Relations Officer of the State Muslims
Pilgrims' Welfare Board told Daily Trust.

 

Yesterday, a statement signed by the Public Relations Officer of Kaduna
State, Yunusa Muhammad Abdullahi, disclosed that intending pilgrims for the
year 2025 hajj would pay N8, 457,685.59, adding that they are expected to
complete payment by 31 January 2025 in order to remit all deposits to NAHCON
on time.

 

Private tour operators under the aegis of the Association of Hajj and Umrah
Operators of Nigeria (AHOUN), say the fare announced is not different from
last year's fare.

 

National President of AHOUN, Alhaji Nasidi Yahaya, told our correspondent
that the fare announced by NAHCON was "a fair deal."

 

>From Abdullateef Aliyu (Lagos), Faruk Shuaibu (Abuja), Suleiman Hassan
(Jos), Magaji Isa Hunkuyi (Jalingo) & Mohammed Ibrahim Yaba (Kaduna)

 

 

Daily Trust.

 

 

 

 

Nigeria: Vandals Responsible for Buguma Wellhead Fire - NNPC

The company said the vandals attempted to compromise the Christmas tree and
steal crude oil, resulting in a devastating fire severely damaging the
well's back pressure valve.

 

The Nigerian National Petroleum Company Limited (NNPC Ltd) said that the
fire incident at its Buguma wellhead 008, operated by its subsidiary, NNPC
Eighteen Operating Ltd (NEOL), was directly caused by the activities of
pipeline vandals.

 

The company said the vandals attempted to steal crude oil, resulting in a
devastating fire that also severely damaged the well's back pressure valve.

 

 

Olufemi Soneye, the chief corporate communications officer of NNPC Ltd,
disclosed this in a statement on Monday night.

 

"The Nigerian National Petroleum Company Limited (NNPC Ltd) reports that the
fire incident at its Buguma wellhead 008, operated by its subsidiary, NNPC
Eighteen Operating Ltd (NEOL), was directly caused by the activities of
pipeline vandals attempting to compromise the Christmas tree and steal crude
oil.

 

"This unfortunate act of sabotage, which also resulted in severe damage to
the well's back pressure valve, reflects a disturbing pattern of repeated
attacks on wellheads in the zone," Mr Soneye said.

 

He said since March 2023, crude oil theft on this asset has been persistent,
with criminals now resorting to extreme measures, including the use of
dynamite to destroy installations and illegally access hydrocarbons.

 

He explained that NNPC Ltd remains committed to combating these fires and
mitigating the financial losses associated with these criminal activities,
which place a significant burden on the nation's economy.

 

"The company is working closely with relevant security agencies to put an
end to these acts of vandalism.

 

"Additionally, NNPC Ltd reaffirms its commitment to supporting communities
affected by these destructive activities and will continue to provide
necessary relief efforts to mitigate the impact on those affected," he said.

 

Premium Times.

 

 

 

 

 

Nigeria: EFCC to Auction 891 Forfeited Vehicles

Some vehicles listed for auction include Lexus Panamera Porsche, Crosstour,
Mercedes Benz, and Venza, among others.

 

The Economic and Financial Crimes Commission (EFCC) says it will conduct an
electronic auction of 891 forfeited cars between 20 January and 27 January.

 

The commission announced this on its social media handle on Monday.

 

It stated that the vehicles were forfeited in line with the EFCC
(Establishment) Act, 2004, Public Procurement Act, 2007 and the Proceeds of
Crime (Recovery & Management) Act, 2022.

 

Some vehicles listed for auction include Lexus Panamera Porsche, Crosstour,
Mercedes Benz, and Venza, among others.

 

It listed locations of the vehicles to include Abuja, Benin, Sokoto, Uyo,
Lagos, Kaduna, Ilorin, Port-Harcourt, Enugu, Kano, and Ibadan.

 

"Interested parties have been directed to the following websites:
www.rihogo.com, https://biznjeg.ng, www.areogunresourcesniglid.com.ng," it
stated.

 

(NAN)

 

Premium Times.

 

 

 

Rwanda: What's Next for Rwanda, Togo Cooperation?

Rwanda and Togo's cooperation is set to gain momentum in various sectors
such as agriculture, trade and investment, green financing, and energy,
following the visit of Togolese President Faure Gnassingbé to Rwanda, on
January 18.

 

He had a two-day visit to Rwanda where he held a tête-à-tête meeting with
President Paul Kagame before joining delegations from both sides for
bilateral talks to advance cooperation.

 

 

According to the Ministry of Foreign Affairs and International Cooperation,
the two Heads of State reaffirmed their commitment to continue strengthening
political, economic, and social cooperation, through the finalization of
already negotiated agreements.

 

 

These include general cooperation agreement, an agreement establishing a
permanent joint commission, an agreement on periodic political
consultations, reciprocal visa exemption, and the double taxation avoidance
agreement.

 

It stated that these projects, along with new areas of cooperation, could be
examined further and signed later.

 

Speaking to The New Times, Prudence Sebahizi, the Minister of Trade and
Industry, said establishing a joint permanent commission will enable other
sector-specific agreements to follow.

 

Although no trade agreement was signed, he said that he held a meeting with
the Togolese Minister of Trade, discussing matters of trade and investment
in both countries.

 

As the delegations held extensive discussions with their Rwandan
counterparts exploring various areas of cooperation, it was also agreed to
send reciprocal study missions to deepen technical discussions on the
various fields and sectors of cooperation.

 

"I always want to remind people that once we have visited each other, we
have discussed, we have reached agreements, what remains is just to get to
business and do what we have to do," President Kagame said following the
bilateral discussions.

 

According to the African Development Bank, the West African nation is
expected to have an economic growth of 5.3 per cent in 2024 and 6 percent in
2025, driven by the dynamism of agriculture and private investment.

 

Food and cash crop production employs the majority of the Togolese labor
force and contributes about 42 per cent to the gross domestic product (GDP).

 

The main sources of export earnings are minerals such as phosphate, calcium,
and clinker, which accounted for 22 per cent of total goods exports between
2019 and 2021, followed by plastics, textiles and clothing, and agricultural
products (soybeans, oilseeds, cashew nuts).

 

In March 2024, Togo adopted a new constitution that changed its governing
structure from presidential to parliamentary. Under the new system,
Parliament will elect the president.

 

New Times.

 

 

 

 

South Sudan: Kenya, UAE Discuss Extending Railway to Uganda and South Sudan

Kenya is in discussions with the United Arab Emirates (UAE) to extend its
Standard Gauge Railway (SGR) to Uganda and South Sudan, President William
Ruto announced. The initiative aims to enhance regional integration and
boost East African trade.

 

 

A feasibility study for the railway extension has been agreed upon as part
of the partnership, underscoring its potential to streamline regional
connectivity. This builds on Uganda's October agreement with Yapi Merkezi
Holdings AS to finance its portion of the SGR, connecting Kampala to the
Kenyan border.

 

Previously, plans for a Kenya-Uganda link stalled after China halted funding
for Uganda's segment of the SGR, forcing reliance on trucking to Kenya's
port. President Ruto's announcement came during a summit in Abu Dhabi, where
he also discussed UAE investments in Kenya's Galana-Kulalu agricultural
project and a $1.5 billion loan to support Kenya's budget and currency
reserves.

 

Daba's investment platform offers seamless access to Africa's best
opportunities. Download here

 

Key Takeaways

 

The UAE's engagement with Kenya exemplifies Gulf states' increasing
investments in African infrastructure. By extending the SGR, Kenya and the
UAE seek to strengthen trade ties and connectivity across East Africa,
fostering economic integration. This aligns with Gulf nations' strategy to
channel petrodollars into Africa, balancing influence with global powers
like the US and China. Kenya's collaboration with the UAE highlights the
importance of infrastructure projects in unlocking regional economic
potential. If successful, the SGR extension could ease logistics, reduce
costs, and enhance trade routes for Uganda and South Sudan, further
integrating East African markets.

 

Daba Finance.

 

 

 

Uganda's Military Took Over Public-Sector Construction. Private Contractors
Are Reeling.

Kampala, Uganda — The government's move to transfer many public construction
projects to the military has worsened fears about President Museveni's
concentration of power.

 

In 2021, the Ugandan government announced a policy that the military would
take on all new government-funded construction projects in the health and
education sectors. In the years since, the scope of the directive has
unofficially widened to include most public-sector projects, and private
contractors say they're struggling to maintain their businesses. There's
growing concern that the directive is the latest in a series of moves to
consolidate and centralize power.

 

 

DN, who asked that his name not be used for fear of retaliation from the
government, says his construction company was working on a project at a
public institution when he was notified that the Ugandan military would take
it over -- even though work at these institutions was exempt from the
policy. He had to lay off his workers.

 

"About 20 of them all lost their jobs," he says.

 

The government says delays in the work led to the contract's termination,
but DN believes it was due to the presidential directive that sends all
construction work at government education and health facilities to the
Uganda People's Defence Forces (UPDF) Engineering Brigade and the National
Enterprise Corporation, the business arm of the country's military. Existing
projects, DN says, were supposed to be exempt.

 

DN's experience is not an isolated incident. Uganda's prime minister,
Robinah Nabbanja, transferred the construction of Luweero General Hospital
and the Luweero District Administration headquarters from private
contractors in March 2024 to the UPDF Engineering Brigade. The contractor
for Luweero General Hospital had been working on it for about 12 years. The
government cited delays as the reason for the transfer of work.

 

Multiple sources from construction companies, all of whom were concerned
about being named publicly, confirmed the trend of the government taking
over their public-sector projects.

 

Felix Kulayigye, a brigadier general and official spokesman for the Uganda
People's Defence Forces, says the directive prevents corruption and bloated
project budgets, and eliminates unnecessary delays that chronically crippled
work done by private contractors.

 

"[They] were affecting the president's manifesto implementation," he says,
referring to the promises that Uganda President Yoweri Museveni made to
provide better services to citizens.

 

The directive tightens the military's grip on Uganda's civil infrastructure.
Already, the country's military and political power are fused. The military
holds parliamentary seats, as well as key roles in government. It plays an
increasingly large role in the fisheries and agricultural sectors. More
controversially, it has made inroads into the judiciary and the electoral
process.

 

There's "no accountability," says Zahara Nampewo, deputy principal of the
Makerere University School of Law and co-author of a study on the
militarization of Uganda's economy. "Who is [the army] reporting to? This
undermines civilian oversight."

 

The problem is much bigger than the monopolization of one sector, she says.
Over the last four decades, the role of Uganda's military has expanded
beyond its traditional defense roles to other aspects of social, economic,
political and cultural life.

 

"There is lack of a clear framework at both the local and institutional
level. The army and civilians should be able to work together. We are
building a culture of 'Musevenism,' and institutions are not working as they
should," Nampewo says, referring to an ideology associated with the
president, which she describes as "a military dictatorship disguised as a
democracy."

 

James Katongana, public relations officer for the National Enterprise
Corporation, denies that his division of the military lacks accountability.
Its representatives appear before the Committee on Commissions, Statutory
Authorities, and State Enterprises, which oversees and ensures
accountability within the government. That's in addition to internal audits,
which are submitted to the auditor general, he says.

 

Kulayigye, the military spokesman, says he isn't sure whether those audit
results are public, and declined to share them with Global Press Journal.
But, he says, military engagement in construction projects has proven
effective in saving money and delivering work on time.

 

He cites the renovation of Entebbe Airport, Uganda's only international
airport, for which he says a private contractor quoted 425 billion Ugandan
shillings (about 114 million United States dollars). It cost the military
just 195 billion shillings (about 52 million dollars), he says. And that
project, he adds, is one of more than 100 like it.

 

But revelations of the military's financial mismanagement have cast doubt
over these cost-cutting claims.

 

The Committee on Commissions, Statutory Authorities, and State Enterprises
is under the purview of the Public Accounts Committee, which oversees
financial aspects of various government institutions, including the
military. During a parliamentary session in October 2024, the Public
Accounts Committee reported that the military lost 28.9 billion shillings
(around 7.8 million dollars) in a government farming project launched in
2022 to address food shortages.

 

In the same parliamentary session, the committee also reported delays in the
completion of projects, including work at the UPDF National Referral
Hospital in Mbuya.

 

According to a 2024 study published by the Human Rights Peace Center, a
semi-autonomous department of Makerere University's School of Law, as of
2023, there was little evidence supporting the cost efficiency of employing
the UPDF Engineering Brigade for construction projects, and significant
concerns -- including fair procurement and competition, transparency, work
quality and the exclusion of local suppliers and businesses -- remain
regarding the near-monopoly granted to the UPDF in public and semi-public
construction.

 

Holding the military accountable is generally challenging, says Muwada
Nkunyingi, an opposition member of Parliament. Government officials, he
says, often avoid questioning military generals, fearing repercussions.

 

Many private construction companies have responded negatively to the
military construction directive, but others have a rosier outlook.

 

Rogers Segawa, an engineer and managing director of Nexus Construction, says
there's no problem with the military taking on government projects. Most
private contractors can't afford them because they require multiple
financial guarantees to ensure a project will be completed. There are lots
of opportunities in the private sector to keep private contractors busy, he
says.

 

And at least some people who benefit from the military's construction work
appreciate the change. Livan Ayebare is a student at Makerere University and
lives in a university hostel that the government renovated in 2023. She
thinks the work, had it been done by a private company, would have taken
longer than the three months it took the military.

 

The government can't let private construction companies fail people, says
Kulayigye, the military spokesman.

 

"We respect the private sector," he says, "but if the private sector means
stalling services to the people, we have no choice but to circumvent them."

 

Nakisanze Segawa is a Global Press Journal reporter based in Kampala,
Uganda.

 

Patricia Lindrio contributed to this article.

 

Global Press Journal.

 

 

 

 

 

South Africa: Eskom to Reach 300 Days of No Load Shedding At Midnight

At midnight tonight, Eskom will reach 300 days without implementing load
shedding - a milestone not seen since June 2018.

 

Eskom has shown vast improvement since the implementation of the Energy
Action Plan introduced by President Cyril Ramaphosa in July 2022, as well as
the implementation of the power utility's own Generation Recovery Plan.

 

"This performance has also resulted in year-to-date diesel savings of R16.42
billion [year-on-year], which is about 62.9% less than the R26.09 billion
spent during the same period last year, as a result of the continued
execution of the Generation Operational Recovery plan.

 

"In August, Eskom shared its summer outlook for the period from 1 September
2024 to 31 March 2025, predicting a likely scenario of a load shedding free
summer due to structural generation improvements. This outlook remains
unchanged," Eskom said.

 

The power utility listed the following as its key performance highlights:

 

 

Year-to-date unplanned outages average 12 040MW, remaining below the summer
base case of 13 000MW by 960MW.

As of Friday, unplanned outages stand at 12 566MW, while available
generation capacity is 28 145MW.

The Unplanned Capacity Loss Factor (UCLF) is at 25.22% for the financial
year-to-date (1 April 2024 to 16 January 2025), improving from 32.78% in the
corresponding period last year. This represents a 7.6% improvement.

Ongoing planned maintenance at 6799MW aligns with our summer maintenance
strategy to further improve reliability in preparation for winter 2025 and
beyond.

Strategic use of peaking stations, including pumped storage and OCGTs,
remains available to manage electricity demand during peak times,
particularly during evening peaks (5pm to 10pm).

Meanwhile, the power utility has appointed Dr Candice Hartley as Chief
People Officer and Rivoningo Mnisi as Group Executive for Renewables.

 

Eskom Group Chief Executive, Dan Marokane, said: "In the last ten months, we
have focussed on strengthening our executive team not only to bring in
specialist skills to drive the delivery of our strategy in a fast-moving and
increasingly competitive marketplace, but to also drive interventions to
address the legacy management control issues that have characterised our
recent audit findings".

 

Hartley, who boasts two decades of experience in Human Resources, served as
Executive Partner and Head of People at KPMG South Africa before joining
Eskom.

 

Mnisi also brings to Eskom some two decades of experience in digitalisation,
innovation, and sustainability and was Chief Strategy Officer at Exxaro
before joining the power utility.

 

"A key area of [Hartley's] focus will be to ensure Eskom has the skills the
organisation requires to operate in a competitive marketplace. She will also
transition Eskom's human capital practices and workforce plans to align with
the strategy and ensure the wider adoption of technology across the
organisation.

 

"[Mnisi's] focus will be on delivering an Eskom renewable energy business
that will become a significant player in this segment, focussing on work
already in progress for an executable initial pipeline of at least 2GW of
clean energy projects by 2026. He will also lead the advancement of Eskom's
pipeline of more than 20GW of clean energy projects to diversify its energy
mix as part of the emissions reduction strategy," Eskom said in a statement.

 

SAnews.gov.za.

 

 

 

 

 

Malawians Struggle As Skyrocketing Fuel Prices Worsen Economic Hardships

Malawians are reeling from the country's ranking as the fourth most
expensive fuel market in Africa, with petrol prices soaring to $1.459 per
litre. This grim reality has left many families struggling to survive as the
ripple effects of high fuel costs devastate the economy.

 

According to Global Petrol Prices' January 2025 data, only the Central
African Republic ($1.718), Senegal ($1.546), and Zimbabwe ($1.480) have
higher petrol prices on the continent. Meanwhile, Malawi stands at 48th
globally for petrol prices and 36th for diesel--alarming figures for one of
the world's poorest nations.

 

The foreign exchange crisis has made matters worse, with black market petrol
prices exceeding K10,000 per litre, compared to the official price of
K2,530. This has left businesses struggling to operate, transport costs
skyrocketing, and basic goods becoming unaffordable for ordinary citizens.

 

Economic expert Marvin Banda attributes the crisis to factors such as the 44
percent currency devaluation and poor pricing policies in recent years.
"Transport costs have risen sharply, inflating wholesale and retail prices
while eroding consumer purchasing power. Farmers can't afford fertilizers,
and food production costs have soared, meaning more hunger for Malawians,"
Banda said.

 

 

A key indicator of the crisis is maize, Malawi's staple food. Prices have
soared beyond the reach of many families, with transport costs pushing up
the price of the grain even further. "People are not just struggling to put
food on the table; they can't even afford the soap to wash their hands,"
Banda added.

 

The high fuel prices are also exacerbated by Malawi's landlocked position,
according to Parliamentary Committee on Natural Resources Chairperson Werani
Chilenga. "We incur high transportation costs, with our main route, Dar es
Salaam, being 2,000 kilometers away. We also have too many fuel
levies--reducing some of these could ease the burden," Chilenga said.

 

The government has promised interventions, including talks with five
countries for government-to-government agreements and securing fuel from Abu
Dhabi through Kenya. But for many Malawians, these promises feel like a
distant hope as their daily struggles intensify.

 

While Energy Minister Ibrahim Matola highlights global issues such as the
Russia-Ukraine conflict and OPEC+ production decisions, critics argue that
poor planning and corruption have worsened the local crisis.

 

Malawians, already burdened by rising transport fares and inflation, feel
abandoned. As one frustrated citizen put it, "We don't need reports; we need
affordable fuel and food now. The government must act before we lose
everything."

 

This fuel crisis, coupled with economic instability, threatens to push
Malawi further into poverty, leaving many families wondering how much longer
they can endure.

 

Nyasa Times.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
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been compiled from s believed to be reliable, but no representation or
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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.

 


 

 


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<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
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