Major International Business Headlines Brief::: 28 January 2025

[Bulls n Bears]

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Major International Business Headlines Brief:::  28 January 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Africa: Ruto, US Secretary of State Rubio Discuss Trade and M23 Crisis in
Goma

ü  Kenya: Engineers Call for Nullification of Aisha Jumwa's Appointment As
KRB Chair

ü  Rwanda: Five Things to Know As Govts Race to Power 300m Africans

ü  Rwanda: Strengthening Rwanda's Data Protection Culture - a Call to Action
Ahead of Privacy Week

ü  Malawi: Inflation Soars to 28.1 Percent in December - We Explain What It
Means for You

ü  Africa: Powering Africa - Tanzanian Summit Targets Electricity for 300
Million

ü  Kenya: Jambojet Halts Flights to Goma Amid Escalating Conflict

ü  Africa: 600 Million Africans Don't Have Electricity - the Green Energy
Transition Must Start With Them

ü  Nigeria: Group Accuses Chief Medical Director of Age Falsification

ü  Mozambique: Bank Cuts Interest Rates

ü  Uganda: Luwero Faces Coffee Quality Crisis As Authorities Struggle With
Enforcement

ü  South Africa's Naked Raises $38m to Expand Digital Insurance Platform

ü  Malawi: Chakwera Secures $250.8 Million Grant From World Bank to Raise
Access to Electricity From 25.9% to 70% By 2030

 


 <mailto:info at bulls.co.zw> 

 


 

Africa: Ruto, US Secretary of State Rubio Discuss Trade and M23 Crisis in
Goma

Nairobi — President William Ruto on Monday held a telephone conversation
with US Secretary of State Marco Rubio, focusing on Kenya-US trade
relations, regional security and the UN-led Multinational Security Support
(MSS) mission in Haiti.

 

In a statement, Ruto said he and Rubio discussed the conclusion of the
Strategic Trade and Investment Partnership (STIP), which aims to boost
investment and promote sustainable economic growth by unlocking existing
opportunities. The agreement is expected to strengthen trade ties between
the two countries.

 

"We discussed the need to conclude the STIP agreement that seeks to increase
investment, promote sustainable and inclusive economic growth by unlocking
the existing economic opportunities," Ruto stated.

 

 

The two leaders also reviewed Kenya's leadership in the MSS mission in
Haiti, agreeing on a joint strategy to ensure its effectiveness in restoring
security to the crisis-hit Caribbean nation.

 

Crisis in Eastern DRC

 

The call between Ruto and Rubio came as fierce fighting erupted in the
eastern Democratic Republic of Congo (DRC), where Rwanda-backed M23 rebels
have reportedly taken control of Goma.

 

Gunfire has raged across the city since Sunday, with residents trapped in
their homes as rebels and government forces engage in intense clashes.

 

"All we can hear [are] gunshots around the city," one Goma resident, who has
been confined to his house since the weekend, told the BBC.

 

Videos shared on social media show M23 fighters patrolling Goma's main
streets after a swift offensive that forced tens of thousands of people to
flee nearby towns.

 

While the rebels claim control of the city, Congolese authorities have
disputed the reports. At least 17 people have been killed and over 300
injured in the ongoing clashes.

 

The escalation follows accusations by DR Congo's Foreign Minister that
Rwanda has effectively declared war by deploying troops to support M23.
While Kigali does not deny backing the rebels, it insists that Congolese
authorities are harboring militias plotting to overthrow the Rwandan
government.

 

Kenya's Diplomatic Push for Ceasefire

 

As tensions rise, Ruto, who currently chairs the East African Community
(EAC), has called for an immediate ceasefire and announced an emergency
regional summit on Wednesday. Presidents of both Rwanda and DR Congo are
expected to attend the talks aimed at defusing the crisis.

 

Meanwhile, during his conversation with Rubio, Ruto reiterated Kenya's
commitment to regional peace efforts and welcomed the US government's pledge
to continue supporting Nairobi's stabilization missions in East Africa.

 

Capital FM.

 

 

 

 

Kenya: Engineers Call for Nullification of Aisha Jumwa's Appointment As KRB
Chair

Nairobi — The Institution of Engineers of Kenya (IEK) has called for the
nullification of Aisha Jumwa Katana's appointment as the chairperson of the
Kenya Roads Board (KRB), citing lack of professional qualifications and an
inappropriate appointment process.

 

Jumwa, a former Gender Cabinet Secretary, was appointed by President William
Ruto as KRB's non-executive chairperson for a three-year term, effective
January 17, 2025.

 

In a statement, IEK President Shammah Kiteme emphasized the need for a
chairperson with expertise in civil, structural, or transport engineering to
effectively oversee the board's technical responsibilities.

 

 

Kiteme argued that Jumwa's appointment contravenes the Kenya Roads Board
Act, which requires the chairperson to be selected from members nominated by
organizations listed in the First Schedule of the Act.

 

"To ensure KRB leadership aligns with its legal framework and technical
demands, appointments should prioritize individuals with relevant
professional backgrounds," Kiteme stated.

 

He further underscored the importance of appointing an engineer to reflect
the board's technical mandate and address the challenges in road
infrastructure development.

 

"The KRB plays a crucial role in road condition oversight, advising on
construction standards, and ensuring technical effectiveness in projects. A
leader with hands-on engineering experience is essential to achieving these
objectives," he added.

 

The IEK's push for nullification highlights the broader need for qualified
technical leadership in key infrastructure bodies to ensure effective
delivery of projects.

 

Capital FM.

 

 

 

 

Rwanda: Five Things to Know As Govts Race to Power 300m Africans

Africa's energy landscape could be poised for a major shift as governments,
investors, and financial institutions convene to forge groundbreaking
agreements. The goal is to provide sustainable energy solutions to 300
million people across the continent by 2030.

 

In Dar es Salaam, Tanzania, the Africa Energy Summit has brought together
several heads of state from across the continent, as well as over 1000 key
stakeholders governments, international organizations, and the private
sector.

 

ALSO READ: How Rwanda can attract more renewable energy investments

 

ALSO READ: Why Rwanda is updating its energy policy

 

 

The two-day summit which started on January 27 aims to, among others, drive
the continent's energy transformation and tackle the critical issue of
energy access under Mission 300 -- a groundbreaking initiative to scale
energy access and accelerate the continent's clean energy transition.

 

ALSO READ: Rwanda needs $1.5bn to achieve universal energy access

 

It is expected that the summit will unveil new initiatives aimed at boosting
domestic resource mobilization and encouraging cross-border trade to spread
risk and increase financing for energy access.

 

Here is what you should know;

 

Practical commitments

 

This week's summit, according to the organizers, is expected to yield two
significant outcomes: the Dar es Salaam Energy Declaration, outlining
commitments and practical actions from African governments to reform the
energy sector, and the first set of National Energy Compacts, which are
expected to serve as blueprints with country-specific targets and timelines
for implementation of critical reforms.

 

In the first phase, 12 countries will present their energy compacts in five
key areas including low-cost power generation, regional energy integration,
increased energy access, enabling private investment, and utility
strengthening.

 

"The time to act is now," according to Franz Drees-Gross, World Bank
Director of Infrastructure for West Africa.

 

"Mission 300 represents not just an ambitious target but a movement. We are
creating a lasting impact that will power Africa's growth and enable
millions of people to access the essential services electricity provides,"
Drees-Gross said in a virtual press briefing.

 

Mission 300, a brainchild of the World Bank Group and the African
Development Bank, seeks to bridge the persistent energy access gap on the
African continent by leveraging innovative technology and financing.

 

"Actual connections"

 

The Dar es Salaam summit is expected to highlight energy sector successes in
selected countries, establish an alliance of sector stakeholders to
accelerate energy infrastructure investments and strengthen regional power
planning, market trade, and policy frameworks to support the implementation
of the Continental Master Plan and the African Single Electricity Market.

 

Organisers say that Mission 300's approach entails both traditional grid
expansion and innovative off-grid solutions to reach remote communities.

 

The program will prioritize sustainable financing models and address
critical challenges such as currency mismatches in project funding.

 

"It's a tight journey because 2030 is only five years away and we have to
deliver, not expected connections, but actual connections to 300 million by
2030," said Daniel Schroth, African Development Bank's Director for
Renewable Energy and Energy Efficiency.

 

Schroth shared similar sentiments with the International Finance Corporation
(IFC)'s Director for Infrastructure in Africa, Sarvesh Suri.

 

"What makes this initiative different from what institutions have done in
the past is the 'all hands on deck approach' with a lot of institutions
working hand-in-hand to deliver the ambitious agenda," he explained.

 

Financial institutions, such as the International Finance Corporation (IFC)
are expected to outline new investment vehicles and funding initiatives to
support the private sector's role in advancing distributed renewable energy
solutions

 

The stark reality

 

Across Africa, nearly 600 million people which is approximately half the
continent's population still live without access to electricity.

 

For these individuals, according to Kevin Kariuki, the Vice President for
Power, Energy, Climate, and Green Growth at the African Development Bank
Group, daily life is a struggle illuminated by the dim glow of kerosene
lamps or the intermittent hum of diesel generators.

 

Kariuki argues that with the current pace of electrification and with
Africa's rapid demographic growth, the number of people without electricity
will remain largely unchanged unless 'we take bold and immediate action.'

 

For Kariuki, what makes this challenge significant in Africa is that, for
many decades, the power sector has faced numerous interlocking challenges
which include inter alia, low access rates, lack of maintenance, lack of
investment, non-cost reflective tariffs, unaffordable subsidies, and lack of
financial sustainability.

 

Most of Africa's public utilities, he pointed out, are in financial distress
- they struggle to cover their operating costs and cannot finance the
required capital expenditure to maintain their operations, thus forcing them
to rely on public subsidies.

 

At the same time, most of the financing available for energy projects today
is in hard currency, which is not always sustainable because energy services
are paid for by local populations in local currencies, thus resulting in a
currency mismatch occasioned by the volatility of local currencies against
international hard currencies.

 

Unveiling the plans

 

Industry experts stress that energy is the engine of development,
maintaining that without affordable, reliable, and sustainable electricity,
Africa cannot achieve its developmental aspirations or secure "its rightful
place" in the global economy.

 

It is expected that Mission 300 will invest in new and rehabilitation of
generation capacity, and transmission systems, including intra- and regional
interconnections, as well as distribution grids to build robust and reliable
power systems.

 

Reforms in the energy sector are also expected to complement it to ensure
affordability and sustainability of electricity service, and financially
viable utilities while partnerships with the private sector will assist in
mobilizing funding at the required speed and scale.

 

"The plan focuses on accelerating electrification through a mix of grid
extensions and distributed renewable energy solutions, such as mini-grids
and stand-alone solar home systems. These solutions are particularly
effective in reaching fragile and remote areas where traditional grid
infrastructure is impractical.

 

Complementing these efforts are investments in generation, transmission,
regional interconnection, and sector reform to ensure that power supply is
not only reliable but also affordable and sustainable," a statement from the
AfDB reads in part.

 

Leaders need to change tack

 

Experts are also calling on African leaders and their governments to lead
the charge by implementing critical reforms to make the energy sector more
efficient and utilities more robust.

 

For instance, experts pointed out that transparent and competitive tendering
processes for new generation capacity, along with cost-recovery mechanisms
for utilities, are essential.

 

Regulators will have to respond with appropriate nimbleness and innovation
to stay responsive to a fast-changing technological and business
environment.

 

Also growing are calls to Governments and development partners to amplify
the call for regional electricity trade to facilitate a shift away from the
single-buyer model as well as allow the sustainable integration of Variable
Renewable Energy (VRE) into weak grids to help shape the energy transition
pathways of African countries.

 

New Times.

 

 

 

 

Rwanda: Strengthening Rwanda's Data Protection Culture - a Call to Action
Ahead of Privacy Week

It has now been almost three and a half years since the Rwandan Law No.
058/2021 of October 13, 2021, on the protection of personal data and privacy
(the "Data Protection Act" or "DPA") came into force, following a two-year
grace period.

 

Enforcement of the DPA began on October 15th, 2023, mandating compliance for
all organisations that fall in the DPA's scope of application, whether they
process personal data within Rwanda or from abroad.

 

The DPA applies to all organisations, including third parties established or
residing in Rwanda who process personal data within Rwanda, as well as those
who are neither established nor reside in Rwanda but process personal data
of individuals located in Rwanda.

 

 

Ensuring compliance is especially imperative for organisations conducting
business in Rwanda and handling the personal information of Rwandans, as
significant penalties may be imposed for violations.

 

Non-compliance can result in administrative fines ranging from no less than
RWF 2,000,000 (approx. USD 2,000) to no more than RWF 5,000,000 (approx. USD
5,000), or 1% of the global turnover from the preceding financial year.

 

Rwanda's Data Protection Act, inspired by global standards such as the EU's
General Data Protection Regulation (GDPR), echoes the country's devotion to
creating a secure digital ecosystem. Moreover, Rwanda ratified the
Convention on Cyber Security and Personal Data Protection on November 21st,
2019.

 

This convention, adopted in Malabo, Equatorial Guinea, on 27th June 2014,
also known as the Malabo Convention, requires countries to implement
domestic laws for personal data protection that align with the rights-based
standards outlined in the convention.

 

The DPA provides a comprehensive framework for processing personal data,
emphasising principles such as accountability, transparency, and individual
rights.

 

The DPA introduces substantial provisions aimed at protecting personal data
and empowering individuals with greater control over their personal
information. Key among these provisions is the recognition of data subject
rights, granting individuals the ability to access their data, request
corrections, withdraw consent, and object to data processing.

 

In addition, the DPA places a strong emphasis on the responsibilities of
data controllers and processors. Organisations handling personal data must
demonstrate accountability by implementing comprehensive data protection
measures.

 

This includes appointing a Data Protection Officer (DPO) to oversee
compliance efforts and conducting Data Protection Impact Assessments (DPIAs)
to evaluate risks associated with high-risk data processing activities.

 

The DPA also establishes stringent requirements for cross-border data
transfers and the storage of personal data outside Rwanda.

 

Personal data may only be transferred or stored outside Rwanda upon
authorisation from the National Cyber Security Authority (NCSA), after
providing proof of proper safeguards for the protection of personal data in
the receiving jurisdiction or through other appropriate technical and
organisational measures.

 

Furthermore, the DPA emphasises the importance of compliance by introducing
significant sanctions for violations. Non-compliance with DPA's provisions
can lead to substantial penalties, serving as a deterrent and reinforcing
the serious need for organisations to adhere to data protection obligations.

 

Rwanda's Data Protection Act is not just a regulatory breakthrough; it is a
foundation for trust and innovation. Compliance with the DPA assures
businesses, investors, and consumers that their data is handled securely and
ethically.

 

For businesses, this translates into a competitive advantage. Organisations
that comply with the DPA can differentiate themselves by exhibiting their
commitment to privacy, enhancing their reputation and customer loyalty.

 

Moreover, compliance may open doors to international partnerships and
markets that prioritise stringent data protection standards like the EU, the
United States, Canada, the United Kingdom, Australia, and Japan.

 

As Rwanda observes Privacy Week from January 27th to 31st, coinciding with
Data Privacy Day celebrated each year on January 28th, the focus will be
firmly on building a privacy-conscious culture.

 

This initiative, spearheaded by the National Cyber Security Authority, aims
to raise awareness about data protection rights and responsibilities.

 

Organisations are strongly encouraged to take proactive steps to ensure
effective data protection and privacy within their operations. One essential
approach is to educate employees by conducting training sessions that embed
privacy principles into everyday workplace practices.

 

Engaging stakeholders is another important strategy. Organisations should
communicate their commitment to data protection not only through client
interactions but also through public campaigns.

 

Additionally, organisations must continuously review and enhance their
internal data privacy policies. It is important to update these policies
regularly to ensure they align with the latest regulations and industry best
practices.

 

Since the introduction of the Rwandan Data Protection Act, many
organisations, including offshore entities conducting business in Rwanda and
those involved in business relationships requiring data transfer and storage
outside Rwanda, have made efforts to comply with the DPA.

 

These efforts include putting in place both technical and organisational
measures for protection of personal data, registering with NCSA as data
controllers or data processors, appointing local representatives, and
seeking authorisation for the sharing, transfer, and storage of personal
data outside Rwanda.

 

As organisations and individuals come together to celebrate Privacy Week
2025, let this be a moment of reflection and recommitment to the principles
of data protection and privacy, values that reinforce trust in the digital
age.

 

The writer is a practicing commercial lawyer specialising in Data Protection
and Privacy.

 

New Times.

 

 

 

 

Malawi: Inflation Soars to 28.1 Percent in December - We Explain What It
Means for You

Malawi's Year-on-Year inflation rate has increased to 28.1% in December
2024, up from 27.0% in November, according to the latest report from the
National Statistics Office (NSO). This rise signals continued pressure on
household budgets as the cost of living surges.

 

Food Inflation Hits 35.6%

 

The NSO report highlights that food inflation has climbed to 35.6%, compared
to 33.7% in November. This sharp increase means that essential commodities
like maize, cooking oil, and sugar are becoming even less affordable for
most Malawians. Food prices have been the main driver of inflation, and the
upward trend is expected to place more strain on families, especially those
living in poverty.

 

 

Non-Food Inflation Slows Slightly

 

On the other hand, the cost of non-food items, such as clothing and
household goods, has shown a slower rate of increase. Non-food inflation
dropped marginally from 17.2% in November to 16.8% in December. While this
is a small relief, it does little to offset the rising food costs, which
make up a significant portion of household spending.

 

A Tough Year for Inflation

 

The report also reveals that the annual average inflation rate for 2024
stands at 32.2%, higher than the 28.8% recorded in 2023. This confirms that
2024 was a particularly difficult year for Malawians, with prices rising at
a faster pace than in the previous year.

 

Food inflation averaged 40.2% for the year, compared to 37.1% in 2023, while
non-food inflation averaged 21.2%, up from 18.8%. This disparity underscores
the growing burden of food costs on Malawian households.

 

The Impact on Malawians

 

Rising Costs for Families:

 

The steady increase in food prices means many families are struggling to
afford basic meals. For low-income households, the situation is even direr
as a significant portion of their earnings is spent on food.

 

Business Struggles:

 

For businesses, inflation raises production and operational costs, forcing
many to increase prices. This reduces consumer spending, further slowing
economic activity.

 

Reduced Purchasing Power:

 

As prices rise, the value of people's income diminishes, leaving them with
less money to meet other needs, such as education, health care, and
transportation.

 

What's Next?

 

Experts warn that without decisive interventions, inflation could remain
high, continuing to erode the purchasing power of Malawians. Calls for
increased investment in agriculture and policies to stabilize food prices
have grown louder as many look to the government to address the root causes
of inflation.

 

For now, Malawians must brace for more financial challenges as they navigate
the rising cost of living.

 

Nyasa Times.

 

 

 

 

Africa: Powering Africa - Tanzanian Summit Targets Electricity for 300
Million

Dar es Salaam — In a landmark effort to tackle Africa's energy access
crisis, the World Bank Group and the African Development Bank Group will
host the Africa Energy Summit on January 27-28 in Dar es Salaam, Tanzania.
The event aims to advance Mission 300, an ambitious initiative to deliver
electricity to 300 million Africans by 2030.

 

The summit will bring together African leaders, international partners,
philanthropic organizations, and private sector stakeholders to accelerate
energy access and support the continent's transition to clean energy.

 

"The time to act is now," said Franz Drees-Gross, World Bank Director of
Infrastructure for West Africa. "Mission 300 represents not just an
ambitious target but a movement... we are creating a lasting impact that
will power Africa's growth and enable millions of people to access the
essential services electricity provides."

 

Addressing the energy gap

 

 

Launched in April 2024, Mission 300 is an unprecedented collaboration
between the World Bank, the African Development Bank, and global partners.
The initiative leverages cutting-edge technologies and innovative financing
to address a glaring energy gap in Africa, where nearly 600 million
people--83% of the global population without electricity--remain without
power.

 

Of these, 365 million live in sub-Saharan Africa. Eastern and Southern
Africa alone account for over half of the world's unelectrified population
and nearly a quarter of those without access to clean cooking technologies,
a group totaling 2.4 billion globally.

 

"The upcoming summit will unveil new initiatives aimed at boosting domestic
resource mobilization and encouraging cross-border trade to spread risk and
increase financing for energy access," said Wale Shonibare, African
Development Bank Director for Energy Financial Solutions, Policy, and
Regulation.

 

The initiative has already garnered significant support. The Global Energy
Alliance for People and Planet (GEAPP) and The Rockefeller Foundation have
pledged $10 million to establish a technical assistance facility supporting
electricity projects across 11 African nations.

 

"What makes this initiative different from what institutions have done in
the past is the 'all hands-on deck' approach, with a lot of institutions
working hand-in-hand to deliver the ambitious agenda," said Sarvesh Suri,
Director for Infrastructure in Africa at the International Finance
Corporation (IFC).

 

Key outcomes and commitments

 

The two-day summit will culminate in the signing of the Dar es Salaam Energy
Declaration, a commitment by African governments to fast-track energy
access, promote renewable energy, and attract private investment.

 

Twelve countries, including Nigeria, the Democratic Republic of Congo, and
Côte d'Ivoire, are set to pledge reforms in five critical areas: low-cost
power generation, regional energy integration, increased energy access,
enabling private sector investment and strengthening utilities

 

Financial institutions such as the IFC are expected to announce new funding
mechanisms to support the private sector in advancing distributed renewable
energy solutions.

 

The summit will also showcase successful energy projects across Africa, form
an alliance of stakeholders to accelerate infrastructure investments, and
reinforce regional power planning and trade policies aligned with the
Continental Master Plan and the African Single Electricity Market.

 

A vision for the future

 

Mission 300 adopts a dual approach, combining traditional grid expansion
with innovative off-grid solutions to reach remote communities. The program
prioritizes sustainable financing models while addressing challenges such as
currency mismatches in project funding.

 

Daniel Schroth, African Development Bank's Director for Renewable Energy and
Energy Efficiency, underscored the urgency of achieving the initiative's
goals. "It's a tight journey because 2030 is only five years away, and we
have to deliver, not expected connections, but actual connections to 300
million by 2030."

 

The summit is expected to attract over 1,000 people across the African
continent and beyond.

 

Independent (Kampala).

 

 

 

Kenya: Jambojet Halts Flights to Goma Amid Escalating Conflict

Nairobi — Jambojet, Kenya's budget airline, has suspended flights between
Nairobi and Goma, Democratic Republic of the Congo (DRC), due to escalating
conflict and the closure of Goma's airspace.

 

The airline announced that the temporary suspension takes effect
immediately, citing safety concerns following the recent takeover of Goma by
the M23 rebel group.

 

"The safety and security of our guests and staff is our utmost priority. We
are closely monitoring developments and will deliberate on the next steps
with key stakeholders in both Goma and Nairobi," Jambojet said in a
statement.

 

The airline added that its Customer Service team is reaching out to affected
passengers and JM Cargo clients through official communication channels,
apologizing for the inconvenience caused.

 

The situation in Goma has worsened following reports of intensified fighting
and the displacement of over a million people. The M23 rebel group's actions
have prompted military responses, including the closure of Goma's airspace,
resulting in a severe humanitarian crisis.

 

President William Ruto, chair of the East African Community (EAC), has urged
an immediate cessation of hostilities in the region.

 

Meanwhile, UN Secretary-General António Guterres has called on Rwanda to
withdraw its forces from DRC territory and for the M23 rebels to halt their
offensive.

 

Rwanda has denied supporting the rebels, accusing the DRC government of
provoking the conflict.

 

Jambojet began operations on the Nairobi-Goma route in 2021 as part of its
expansion into Central Africa.

 

Capital FM.

 

 

 

 

Africa: 600 Million Africans Don't Have Electricity - the Green Energy
Transition Must Start With Them

The world is fast transitioning towards renewable energy systems. But in
many African countries, this transition is not solving historical
inequalities or socio-economic challenges. This is because moving away from
fossil fuels is costly and governments have largely not involved
historically disadvantaged communities in the transition.

 

Instead, African countries are focusing on how much clean energy technology
costs and how to get companies to invest in it. Government and policymakers
are overlooking concerns about social equity, environmental protection and
political inclusion.

 

This can lead to human rights violations and protests by communities who
oppose renewable energy projects because they fear a repeat of past
injustices associated with extractive projects, such as losing their land.

 

 

The shift to renewable energy must be a just transition. It must not leave
behind people who currently lack electricity. The justice dimension must be
included in energy policies in African countries.

 

We are research specialists in the fields of business and human rights, law
and development, resource governance, energy, environment, and African
development.

 

We investigated how energy justice principles can guide and shape the green
transition in Africa. These principles are geared towards the social,
ethical and environmental aspects of producing, distributing and consuming
energy. Energy justice sets out to ensure that energy is delivered to
everyone in a sustainable way.

 

Read more: Green energy: South Africa's transition plan must be careful not
to deepen inequality - the 3 top issues

 

We looked at laws, articles, research databases and government reports on
energy justice. We also examined reports from African countries on the just
transition, on human rights-based approaches to energy and on the role of
renewable energy sources in Africa today.

 

About 600 million African people still lack access to reliable and
affordable energy. Our research found that this energy poverty creates
barriers to development and human rights concerns.

 

For example, it stifles industrial growth and limits the productivity of
small and medium-sized businesses. It reduces agricultural efficiency (for
example, irrigation systems need energy). It reduces access to education -
students study by poor lighting and have no way to charge devices.
Healthcare (a lack of refrigeration for vaccines) is affected. And people
don't have clean cooking technologies like electric ovens.

 

Our findings indicate that the transition to renewable energy must primarily
aim to eradicate energy poverty. This requires careful planning, and
co-operation between all organisations, communities and institutions
involved in providing energy. It also needs targeted interventions to suit
different African countries.

 

Africa's complicated energy transition

 

Africa's energy landscape is still shaped by inequality and exclusion that
dates back to colonial times. Colonial-era infrastructure and development
prioritised urban centres and extractive industries, such as coal and gold
mines. Vast rural populations were deprived - and remain so.

 

The transition must expand energy access at the same time as introducing
low-carbon energy systems. This is a dual challenge which creates tensions
between development needs and environmental sustainability goals. For
instance, South Africa, Nigeria, the Democratic Republic of Congo and Angola
rely heavily on fossil fuel revenues and extractive industries. This creates
resistance to adopting renewable energy policies.

 

Read more: South Africa's move to green energy was slowed down by government
to protect coal mining

 

When making the change, communities dependent on industries like coal mining
face job losses. They have limited opportunities to find other sources of
income. Workers in fossil fuel sectors lose their jobs and don't get enough
support (like training) to find other work in renewable energy.

 

When this happens, food security and incomes are reduced, and rural poverty
becomes worse. Some communities are displaced from their land to make way
for big renewable energy projects. This weakens community cohesion and
undermines trust in government and developers. Communities usually have
little access to legal recourse or compensation when big companies
expropriate land.

 

Social justice is part of energy justice. It is essential to make a
concerted and transparent effort to dismantle barriers to energy justice, to
include all groups who may be at the margins of society in various ways.

 

Unclear rules and weak government practices in many African countries also
make it difficult to plan the energy transition effectively. Poor management
and lack of enforcement of environmental laws add to the difficulties.

 

Another problem is that although developed countries have pledged financial
support to African nations for the transition, the amount of money they've
disbursed has fallen short. This leaves African nations with insufficient
resources to invest in renewable energy infrastructure and the just
transition.

 

How to end energy injustice

 

Our research found that it is possible for the transition to give everyone
access to clean, green energy. This will happen if governments integrate
energy justice into all their energy policies.

 

Governments can start by making sure that rural and historically
disadvantaged communities are put first.

 

African governments should reduce their dependence on extractive industries
such as mining. Investing in renewable energy industries and creating new
employment opportunities through green job initiatives can help with this.

 

The impact of renewable energy projects on the environment and people must
be carefully investigated. Communities need to be fully involved in planning
large renewable energy projects. People who are displaced by energy projects
must be compensated. The benefits of green energy must be shared with
affected communities.

 

Policymakers need to create clear, fair and enforceable rules and laws to
make sure that clean energy is delivered in a just way. Stronger
institutions, actions to prevent corruption, and training programmes are
essential to make these rules work.

 

 

 

 

Nigeria: Group Accuses Chief Medical Director of Age Falsification

The Advocate Against Corruption in Public Service in Nigeria has accused
Theo Onyuku, the acting Chief Medical Director (CMD) of Federal
Neuro-Psychiatric Hospital, Calabar, of falsifying his age and employment
records.

 

Akiki Inam, solicitor to the Calabar-based group, made the allegation in a
petition to the minister of state for Health and Social Welfare, which was
made available to reporters in Calabar on Monday.

 

Mr Inam said Mr Onyuku, a medical doctor, was unfit to hold the position of
the CMD because of his "questionable character and dented records of
service".

 

 

He said that there were discrepancies between the year the acting CMD was
admitted into service and the year he completed his residency.

 

According to him, Mr Onyuku also provided three different age declarations
in his employment records.

 

"His employment records with the Human Resources Department of the hospital
show different dates of birth, such as 20 June 1965, 20 June 1967 and 20
June 1968.

 

"Upon his employment in 1997, his date of birth was 20 June 1965, but a
record of service personally completed by him shows 20 June 1967.

 

"His curriculum vitae, as found in his file in the hospital, shows his date
of birth as 20 June 1968; this is contradicting," he said.

 

Mr Inam said it was criminal and unlawful for any employee to present
inconsistent dates of birth in their employment records.

 

The lawyer further stated that Mr Onyuku was employed as a resident doctor
on 1 September 1997, presumably after undertaking the compulsory National
Youth Service Corps programme.

 

"Available records show that he completed his national youth service in
2003. So he was not qualified to be employed as a resident doctor in 1997,"
he said.

 

He said the foundation of the CMD's employment was morally dubious,
questionable, and suspicious and required proper investigations and
sanctions.

 

When contacted, Mr Onyuku said he was aware of the petition but declined
comment on it.

 

"I can't say anything about it now because it is currently before the
ministry, for investigation.

 

"I won't preempt the outcome of their investigation with any response. I am
sure that all this will be made open by February.

 

"I, however, want you to know that anyone in a position of authority will
always have opposition," he stated.

 

(NAN)

 

Premium Times.

 

 

 

 

Mozambique: Bank Cuts Interest Rates

Maputo — The Monetary Policy Committee of the Bank of Mozambique (CPMO), at
a meeting in Maputo on Monday decided to cut its benchmark interest rate,
the MIMO rate, by 50 base points.

 

Thus, the MIMO rate fell from 12.75 to 12.25 per cent. A CPMO statement said
this decision "arises from the continued prospects of single digit inflation
over the medium term, despite the increased risks and uncertainties
associated with the projections, notably those arising from the
post-election tensions, fiscal risks and climatic shocks'.

 

At the same time the CPMO cut sharply the Compulsory Reserves Coefficient
(the amount of money the commercial banks must deposit with the central
bank) from 39 to 29 per cent for meticais and from 39.5 to 29.5 per cent for
foreign currency. The statement from the CPMO said that this measure "seeks
to make more liquidity available to support the economy in restoring its
productive capacity and in the supply of goods and services'.

 

 

Towards the end of 2024, the inflation rate rose. According to the CPMO,
annual inflation rose from 2.84 per cent in November to 4.15 per cent in
December. This reflected a decline in the supply of goods and services,
arising from the post-election riots.

 

Underlying inflation (which excludes fruit and vegetables, and goods with
administered prices) also rose. Nonetheless, the CPMO was confident that the
prospects for single digit inflation remain valid, and essentially reflect
the stability of the metical and the impact of the measures taken by the
CPMO.

 

The pressure on domestic indebtedness worsened, the CPMO added. In January,
the internal public debt stood at 435.6 billion meticais (about 6.8 billion
US dollars), which was an increase of 20.1 billion meticais on the December
figure.

 

International reserves remained at what the central bank regarded as a
"comfortable' level - enough to cover five months' worth of imports of goods
and services, excluding the mega-projects.

 

The risks and uncertainties associated with the inflation projections have
increased, the CPMO admitted. The factors that could lead to a rise in the
inflation rate "are the impact of the post-election tensions, climatic
shocks and worsened pressure on public expenditure, in a context of reduced
capacity to finance the expenditure'.

 

 

 

 

 

Uganda: Luwero Faces Coffee Quality Crisis As Authorities Struggle With
Enforcement

Grace Ewiku, deputy commander of the Agriculture Police's Crop Protection
Unit, has voiced her frustration over the ongoing decline in coffee quality
in Luweero, despite efforts to enforce quality standards.

 

Speaking at a meeting in Kasana, Ewiku highlighted the negative impact of
premature harvesting, poor post-harvest handling, and improper wet coffee
processing on the region's coffee industry, which has tarnished Uganda's
reputation on the international market.

 

"It's unfortunate that traders and processors, who are fully aware of the
policies governing quality coffee production, continue to engage in
harvesting green coffee. This coffee rots in stores, affecting the
international market," Ewiku lamented.

 

 

While the Ministry of Agriculture, the police, and other stakeholders have
taken steps to confiscate green cherries from traders, the practice
persists, driven by financial greed, Ewiku explained.

 

However, allegations of corruption and misconduct within the enforcement
process have surfaced. Kawonawo Kizza, a coffee trader, criticized law
enforcement for only partially destroying confiscated coffee and accused
them of reselling the rest.

 

"Law enforcers pour only a small percentage of the confiscated coffee. They
keep the larger portion and sell it later. How does this promote quality
coffee production when the enforcers themselves are culprits?" Kizza
charged.

 

Richard Mutiibwa, a farmer, also alleged corruption within the Uganda
Quality Coffee Traders and Processors Association (UQCTPA), claiming that
his coffee was confiscated unfairly and that he overheard one officer
admitting to the act due to a financial dispute.

 

In defense, Sammy Yiga Muwonge, Project Coordinator of UQCTPA, dismissed the
allegations as unfounded, maintaining that the association's focus was on
improving coffee quality, not personal gains.

 

He also reassured that the team previously part of the Uganda Coffee
Development Authority (UCDA) would continue their efforts to support coffee
quality, though under the Ministry of Agriculture.

 

Ewiku further called for improved security measures to prevent theft of
coffee and urged the Ministry of Agriculture to set up a dedicated site for
destroying substandard coffee, as the current lack of such a facility
complicates enforcement.

 

As discussions continue, the coffee industry in Luwero remains at a critical
juncture, with hopes that concerted efforts from all stakeholders will help
restore the country's coffee reputation globally.

 

Nile Post.

 

 

 

 

South Africa's Naked Raises $38m to Expand Digital Insurance Platform

South African insurtech startup Naked has secured $38 million in a Series B2
funding round led by BlueOrchard, with participation from existing backers
Hollard, Yellowwoods, International Finance Corporation (IFC), and DEG. This
brings its total funding to $66 million.

 

 

Launched in 2018, Naked offers an AI-powered platform enabling customers to
manage insurance entirely online. Users can insure cars, homes, and
standalone items, with the ability to get quotes, switch, or pause coverage
in under 90 seconds, all without speaking to agents. The funds will drive
investment in automation, market expansion, product development, and
advertising. Naked also plans to meet regulatory capital requirements tied
to its growth.

 

Co-founder Alex Thomson said the investment validates the company's model
and its progress in making insurance more accessible. BlueOrchard's Richard
Hardy noted the alignment with their strategy to enhance financial inclusion
through technology.

 

Key Takeaways

 

Naked's success highlights a shift in emerging markets toward digital-first
financial services. Emerging markets face challenges like regulatory hurdles
and low insurance penetration, but companies like Naked are leveraging
technology to address these gaps. Traditional insurance models often rely on
face-to-face interactions, limiting accessibility and scalability. Naked
uses automation and AI to lower costs and offer a seamless digital
experience, attracting a growing segment of tech-savvy consumers. The
insurtech's funding journey reflects increasing global investor interest in
African fintechs.

 

Daba Finance.

 

 

 

Malawi: Chakwera Secures $250.8 Million Grant From World Bank to Raise
Access to Electricity From 25.9% to 70% By 2030

In a groundbreaking move for Malawi's development, President Lazarus
Chakwera has successfully secured a $250.8 million grant from the World Bank
under the Accelerating Sustainable and Clean Energy Access Transformation in
Malawi (Ascent Malawi) Project. This significant investment will transform
the country's energy landscape, with a bold target to raise electricity
access from the current 25.9% to 70% by 2030.

 

The grant, signed during a ceremony at the Julius Nyerere International
Convention Centre in Tanzania, marks a milestone in Chakwera's commitment to
addressing Malawi's chronic energy challenges. The World Bank's Managing
Director, Anna Bjerde, expressed her admiration for the progress made,
noting that Malawi had doubled its electricity access from 12% to 25% in
just four years. "This is a remarkable achievement. Looking ahead, reaching
70% access by 2030 is ambitious, but very achievable," Bjerde said.

 

 

For Chakwera, the grant represents not only a victory for his administration
but also the fulfillment of a personal mission. Reflecting on his upbringing
in a village without electricity, Chakwera shared his deep commitment to
ensuring that no Malawian is left behind. "I grew up in an area where
electricity was a luxury, and I made it my personal goal to change that for
all Malawians," he said. "This funding from the World Bank is a gift to the
Malawian people and an endorsement of our vision to use these resources
effectively."

 

The grant is part of a broader effort to create lasting change in Malawi,
with Chakwera's leadership at the helm. The Ascent Malawi Project will not
only provide clean and sustainable energy but will also create numerous
economic opportunities, particularly for young people and women. With more
reliable electricity, businesses will thrive, and new enterprises will
emerge, from small-scale ventures like barbershops and salons to larger
industries needing stable power to scale up production.

 

This energy initiative promises to have far-reaching impacts on Malawi's
economy. As electricity access improves, so too will the quality of life for
millions of Malawians. Rural areas, which have long been left in the dark,
will experience a dramatic shift as power reaches homes, schools, hospitals,
and businesses. Farmers will benefit from irrigation systems powered by
electricity, boosting agricultural productivity and food security.

 

In addition to the social benefits, the increase in electricity access is
expected to attract foreign direct investment (FDI), which has been hindered
by unreliable power supply. International companies will now have confidence
in Malawi's energy stability, leading to more factories, hotels, and
large-scale businesses setting up shop, which will create thousands of jobs
for the youth and stimulate the economy.

 

Furthermore, the grant will play a key role in addressing Malawi's foreign
exchange issues. The influx of investment and the boost to the country's
manufacturing sector will improve foreign currency reserves, leading to
greater economic stability and enabling the government to reduce debt and
improve public services, such as education, healthcare, and infrastructure
development.

 

Chakwera's ability to secure this funding from the World Bank is a testament
to his leadership and the trust the international community has in his
administration. The project is not just about providing electricity--it is
about transforming the entire economy, empowering the youth, creating jobs,
and lifting millions out of poverty.

 

By 2030, as a result of Chakwera's vision and leadership, Malawi will not
only be a beacon of energy access in Africa but also an emerging economic
powerhouse, thriving on sustainable, clean energy and the limitless
possibilities it brings.

 

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
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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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