Major International Business Headlines Brief ::: 04 June 2025

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Major International Business Headlines Brief :::  04 June  2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Africa: From Certification to Change: Why Africa's Food Safety Needs a
Different Approach

ü  South Africa: Court Upholds Fuel Levy Increase 

ü  Nigeria: Govt, Greenville LNG Launch LCNG Project, First in North-East

ü  Nigeria: Govts, IOCs Should Invest in New Oil & Gas Researchers - Expert

ü  Nigeria: Midterm Scorecard - Nigeria's Health Sector Remains Fragile
Despite Tinubu's Efforts

ü  Kenya: Rose Njeri Charged Over Anti-Finance Bill Website

ü  Gabon: French Mining Group Digs in as Gabon Tightens Grip on Manganese
Exports

ü  Musk calls Trump's tax bill a 'disgusting abomination'

ü  Trump's 50% tariffs on metals come into effect

ü  UK temporarily spared from Trump's 50% steel tariffs

ü  Oreo maker sues Aldi in US over 'copycat' packaging

ü  Debt and trade issues weaken UK growth, OECD says

 


 <mailto:info at bulls.co.zw> 

 


Africa: From Certification to Change: Why Africa's Food Safety Needs a
Different Approach

As the world marks June 7 as World Food Safety Day 2025 under the theme
"Food Safety: Science in Action," it is time to recognise that food
certification does not always mean food safety.

 

In many African countries, food safety has become synonymous with
certification. This framing overlooks a critical reality: certification,
while useful for trade, is not always accessible, equitable, or reflective
of the broader food environment in which most Africans eat.

 

Food Health Systems Advisory (FHSA  ) recently reviewed over 2,700 food
safety certifications across 12 African countries. More than 50% of FSSC
certifications were concentrated in South Africa. While Egypt and Kenya
followed, most countries had very low uptake, especially among small and
medium enterprises.

 

 

Why? High costs, few accredited auditors, and limited institutional support
make certification out of reach for most. Even businesses that get certified
struggle to maintain it. FHSA data show that 1 in every 25 certified firms
were suspended due to unannounced audit failure, and more than half will
need to recertify by 2026, signalling a recertification wave that many firms
may be ill-equipped to navigate.

 

Beyond the numbers lies a deeper issue: the emergence of a double-standard,
two-tiered food safety regime. Certified products often destined for export
or high-end retail receive close oversight. However, food sold in local and
informal markets, where the majority of Africans shop and eat, often
bypasses the same level of scrutiny. Why should a pineapple bound for Europe
meet food safety standards, while cassava flour sold in Lagos or Kisumu does
not?

 

To be clear, certification is not the only measure of safety; many
uncertified foods are safe, and some certified ones fail over time. But when
the safest products are reserved for global buyers, and the most vulnerable
populations face the greatest exposure to foodborne risks, we are not just
facing a technical problem, we are confronting a justice problem !

 

"Science in Action" must move beyond paperwork, audit protocols, ISO
manuals, and HACCP checklists. These are important tools, but they are not
the same as operational food safety systems. A certificate may confirm the
existence of a system, but it says little about how it is implemented when
no one is watching. Real science in action means smarter, risk-based
regulation, inclusive training, and tools that support SMEs.

 

One example is  FHSA  supporting hundreds of female-led informal
microprocessing clusters in dairy, fruit, and vegetable value chains across
Nigeria. These women serve low-income communities with fresh and minimally
processed foods. Instead of imposing complex, top-down standards, we are
translating food safety concepts like HACCP into everyday language,
reframing "hazard analysis" as common-sense hygiene, and "critical control
points" as the safety steps they already use to prevent spoilage or
contamination.

 

This is what science in action looks like in practice: adapting global
standards to local realities, without losing the essence of what they are
meant to achieve: safe food for all . This approach does not lower the bar;
it expands ownership. It brings food safety into the realm of daily
practice, grounded in the lived realities of the women who feed millions.

 

Science-based risk assessment could help policymakers and regulators
distinguish between perceived and actual hazards in traditional wet and
informal markets, guiding proportionate responses rather than blanket
crackdowns or neglect. The Codex Alimentarius Commission  recently adopted
Guidelines for Food Hygiene Control Measures in Traditional Markets  ,
signalling global recognition that traditional informal markets matter. If
Codex can acknowledge their importance, so must we. Food safety must start
where most people shop and eat.

 

Some might argue that certification is voluntary or that low-income
consumers prioritise affordability over safety. These are valid points that
strengthen the case for reimagining food safety as a public good, not a
private commodity. Just as vaccines must be safe regardless of income level,
food safety must be built into the everyday food environments of all
Africans, not just those shopping in supermarkets or shipping goods abroad .

 

To build systems that work for all, we must: Train and equip regulators to
target risk, not just compliance; Support MSMEs with coaching and tools, not
just penalties; Rethink certification as a journey, not a finish line,  with
tiered systems that reward steady improvement; Turn food safety into a
public conversation, give consumers simple ways to report, respond, and
shape change.

 

Certification will always have its place, but it cannot be the whole
picture. Food safety must be continuous, contextual, and inclusive. Because
safe food is not just good business, it is a public good.

 

Vivian Maduekeh is the Managing Partner of Food Health Systems Advisory.
This piece is based on findings from the Food Health Systems Advisory's 2025
Food Safety Certification Report. Learn more at http://www.fhsafrica.org

 

 

 

 

South Africa: Court Upholds Fuel Levy Increase 

Finance Minister Enoch Godongwana's court victory upheld the fuel levy
increase announced in his May budget, meaning motorists will pay an extra 16
cents per litre for petrol and 15 cents for diesel, reports EWN. The
increase, however, coincides with June's fuel price adjustment, which will
see petrol prices decrease by five cents a litre and diesel drop by 37 cents
a litre, offering motorists a slight reprieve from the hiked levy. The
Economic Freedom Fighters (EFF) had challenged the levy in court, arguing it
disproportionately affect the poor and required parliamentary approval, but
the Western Cape High Court dismissed their application.

 

Inquest Team to Inspect Scene Where Cradock Four Bodies Were Found

 

The Eastern Cape High Court in Gqeberha, presiding over the inquest into the
deaths of the Cradock Four, is expected to visit Blue Water Bay, the site
where the activists' burnt-out vehicle and bodies were discovered in 1985,
reports SABC News. Matthew Goniwe, Fort Calata, Sparrow Mkhonto, and Sicelo
Mhlauli, all anti-apartheid activists, are believed to have been killed by
the apartheid security branch while leaving Gqeberha. The inquest's legal
team conducted inspections in Nxuba, including stops at the local police
station, the Goniwe family home, and Olifantskop Pass, where the men were
abducted.

 

Asbestos Trial Resumes Without Moroadi Cholota After Extradition Overturn

 

The asbestos corruption trial resumes at the Bloemfontein High Court, now
without Moroadi Cholota, the former secretary to ex-Free State Premier Ace
Magashule, after a court overturned her extradition from the U.S, reports
EWN. The judgment found the National Prosecuting Authority (NPA)'s
extradition request unlawful and unconstitutional. Cholota, initially a
State witness turned accused, claimed her prosecution was part of a witch
hunt against Magashule. The State in the asbestos corruption trial will now
have to make its case against Magashule and 16 others without Cholota as a
witness or as an accused.

 

More South African news

 

 

 

Nigeria: Govt, Greenville LNG Launch LCNG Project, First in North-East

The federal government, in partnership with Greenville LNG, has flagged off
a Liquefied to Compressed Natural Gas (LCNG) project in Yola, Adamawa State,
marking the first-ever LCNG hub in North East.

 

The facility, inaugurated by the Minister of State Petroleum Resources
(Gas), Rt. Hon. Ekperikpe Ekpo, on Tuesday is a significant step toward
advancing the government's 'Decade of Gas' agenda and promoting cleaner,
more affordable energy alternatives to diesel and petrol in the region.

 

Greenville LNG, which is committing $1 billion investments in the country,
said it plans to expand this model nationwide, with 50 stations targeted by
2026 to further enhance Nigeria's gas infrastructure and energy security.

 

The minister, in a speech at the event, described the project by Greenville
LNG as a powerful testament to the potential of public-private collaboration
in advancing the Federal Government's 'Decade of Gas' agenda.

 

"The strategic location of this facility in the North-East also carries deep
significance. For far too long, this region has faced infrastructural
challenges that have limited its full economic potential," said Ekpo. "This
facility in Yola marks a significant turning point. It is a beacon of hope
and opportunity, not only for Adamawa State but for the entire region. It
demonstrates that the benefits of Nigeria's vast natural gas resources can
and must reach every corner of our country."

 

According to Ekpo, President Bola Ahmed Tinubu has made it a national
priority to harness Nigeria's gas resources for economic transformation,
industrialisation, and social development. He said the LCNG model is a
perfect example of such innovation. It creates an integrated solution for
powering vehicles and industrial equipment with both LNG and CNG, offering
cleaner, cheaper alternatives to diesel and petrol.

 

Said Ekpo: "This transformative project highlights the Federal Government's
unrelenting efforts to drive economic growth through gas adoption, building
on the immense promise of natural gas as a cornerstone for national energy
security.

 

"By leveraging advanced technology and innovative models like this LCNG
facility, we are setting a new benchmark for energy accessibility and
sustainability.

 

This LCNG facility is not only delivering energy but also delivering hope,
creating jobs, enabling businesses, and fostering peace through inclusive
development."

 

Ekpo also called on other investors and gas developers to invest in the LCNG
project, noting that there is still so much ground to cover and so many
communities that remain underserved. He also thanked the Government and
people of Adamawa State for their support of the project through the
provision of land and a conducive environment for construction by
contractors, saying CNG is cheaper and cleaner than petrol, and that
President Tinubu means well for Adamawa and that's why he is working to
ensure the state is hooked up for CNG gas.

 

Adamawa State governor, Ahmadu Umaru Fintiri, represented by his deputy,
Prof. Kaletapwa G. Farauta, commended the Federal Government for
facilitating the investment, saying it aligns with the vision of the state
government for cleaner and affordable energy sources.

 

The governor noted that the state has witnessed the impact of climate change
and that it is real and is behind every policy and project geared at saving
the environment and ensuring that citizens live and breathe healthy air.

 

"We will need more of the federal government's intervention, and we will do
our best to ensure that the project succeeds."

 

Chairman of Greenville, Eddy Van Ben Broeke, said the company was committing
over $1 billion as investments in the country and that similar projects will
be replicated in other states, and called on the federal and state
governments for support to bring them to fruition.

 

Read the original article on Leadership.

 

 

 

 

Nigeria: Govts, IOCs Should Invest in New Oil & Gas Researchers - Expert

The Federal and State government, international oil companies, and corporate
citizens have been urged to invest in a new generation of researchers and
manpower in the oil and gas industry.

 

Professor of Petroleum Geophysics, Prof. Godfrey Thomspon Akpabio said the
training of new sets of researchers and manpower in the industry is needed
in the light of new discoveries in petroleum geophysics.

 

Speaking as the 113th inaugural lecturer on the topic, "The 'Wonders' of
Applied Geophysics," Akpabio, a professor in the Department of Geoscience,
Faculty of Physical Sciences, University of Uyo, said petroleum geophysics
is central to oil and gas exploration, development and production business.

 

He however lamented the lack of researchers and manpower needed for sound
teaching and practice, geophysical equipment and workstation for the
industry.

 

"Petroleum Geophysics is central to oil and gas exploration, development and
production business. For sound teaching and practice, geophysical equipment
and workstation are required.

 

"Unfortunately, this is lacking in our universities and this narrative is
not good for Akwa Ibom State as a leading oil and gas producing state in the
Niger Delta region.

 

"I therefore recommend that International Oil and Gas Companies, corporate
citizens and Akwa Ibom State Government should intervene by donating
geophysical equipment and workstation to promote the training of a new
generation of researchers and competent manpower for the state, largely, in
the Nigerian oil and gas industry," he added.

 

Read the original article on Daily Trust.

 

 

 

 

Nigeria: Midterm Scorecard - Nigeria's Health Sector Remains Fragile Despite
Tinubu's Efforts

Despite some positive policy moves and funding efforts by the Tinubu
administration, the persistence of challenges in the health sector raises
questions about his capacity to improve healthcare in Nigeria through the
"Renewed Hope" agenda.

 

Two years into President Bola Tinubu's tenure, Nigeria's health sector
remains fragile, swamped with various interventions, yet still burdened by
old challenges.

 

Despite campaign promises of reforms and some execution, the country
continues to grapple with underfunding, inadequate infrastructure, workforce
shortages, recurring disease outbreaks, electricity crises in hospitals, and
limited access to healthcare services.

 

In his Renewed Hope manifesto, Mr Tinubu laid out an ambitious vision for
the sector, centred on Universal Health Coverage (UHC) and strengthening the
systems.

 

He pledged to expand insurance coverage to at least 40 per cent of the
population within two years, scale up the National Health Insurance
Authority (NHIA), and revitalise primary healthcare facilities.

 

Mr Tinubu also committed to addressing the brain drain in Nigeria's
healthcare sector.

 

However, despite some positive policy moves and funding efforts by the
Tinubu administration, the persistence of old challenges in the sector
raises questions about its capacity to improve healthcare in Nigeria through
the "Renewed Hope" agenda.

 

Promising starts

 

Since assuming office in May 2023, Mr Tinubu has introduced various reforms
to transform healthcare delivery in the country.

 

The Nigeria Health Sector Renewal Investment Initiative (NHSRII) was
launched in December 2023 with the goal of achieving UHC by 2030. This
initiative, backed by the National Council on Health, focuses on leveraging
the Basic Health Care Provision Fund (BHCPF).

 

The NHSRII aims to enhance Reproductive, Maternal, Newborn, and Child Health
(RMNCH), and to strengthen primary healthcare by revitalising 17,000 PHCs.

 

By mid-2024, the State House confirmed that over $2.2 billion in external
financing had been mobilised for the NHSRII through financial commitments
from various development partners.

 

In a recent interview, the Director-General of NHIA, Kelechi Ohiri, reported
a growth in health insurance coverage from "16.7 million to 20 million
people" in just one year.

 

Mr Ohiri said Nigeria has already surpassed its 2025 enrolment target, "and
we are at the 2026 target." Also, a 2024 survey by NOI Polls revealed that
only about 19 in 100 Nigerians have health insurance. All these highlight
the need for continued efforts to expand coverage.

 

In June 2024, Mr Tinubu signed an Executive Order on Healthcare, which
became operational in October. The order wants to make healthcare more
affordable, expand access, and prioritise local pharmaceutical production.

 

While these policy moves and investments signal a shift toward reform,
experts say there is a long way to go. At the 2025 Strategic Health Summit,
government officials and health advocates assessed the sector's progress and
acknowledged that significant gaps persist.

 

Health sector funding

 

Adequate funding remains a persistent challenge in Nigeria's push for
Universal Health Coverage. One of Mr Tinubu's early promises was to boost
funding for the health sector through increased investment and budget
allocation.

 

However, funding levels still fall short of global standards two years
later.

 

In the 2024 budget, the federal government allocated N1.23 trillion to the
health sector, about 5.46 per cent of the total budget. While this was a
slight increase from N1.17 trillion in 2023, it represented a drop in
percentage terms from 5.8 per cent allocation the previous year.

 

The funds were directed largely at expanding health insurance and
strengthening primary care through the BHCPF.

 

For 2025, the allocation nearly doubled to N2.48 trillion, accounting for
5.18 per cent of the total N47.9 trillion national budget. This includes
more support for infrastructure and further investment in the BHCPF.

 

In response to the US aid cuts, Nigeria's National Assembly approved an
additional N300 billion for the health sector in the 2025 budget. The
overall budget was N54.99 trillion, reflecting an increase of over N700
billion from the N54.2 trillion proposed by Mr Tinubu.

 

While this signals an increased domestic investment in health, it still
falls short of the Abuja Declaration's 15 per cent benchmark for health
spending, raising doubts about whether current investments are enough to
support Mr Tinubu's vision for the sector.

 

The move, however, indicates an effort to reduce overreliance on foreign aid
and enhance the country's capacity to fund critical health initiatives such
as HIV/AIDS treatment and immunisation.

 

Workforce Shortage

 

Mr Tinubu's priorities include addressing the shortage of skilled health
workers and improving their welfare.

 

Nigeria's Minister of State for Health and Social Welfare, Iziaq Salako,
recently revealed that 50,000 frontline workers have been trained to reach
120,000 communities to provide integrated, people-centred care.

 

While this is a positive move, the major challenge is not just training but
also retaining these professionals.

 

Nigeria loses its health workforce at an alarming rate every year. The
Coordinating Minister of Health and Social Welfare, Muhammad Pate, recently
revealed that over 16,000 doctors left the country in the last five to seven
years, causing the doctor-to-population ratio to drop to 3.9 per 10,000
people.

 

In 2024, Mr Pate also disclosed that Nigeria had about 55,000 licensed
doctors serving a population of over 200 million. This figure falls below
the WHO threshold density of 4.45 health workers per 1000 people needed to
deliver essential health services.

 

The problem is compounded by the migration of over 1,300 consultants in the
past five years and the looming retirement of more than 1,700 senior
professionals.

 

Poor working conditions, low pay, and limited opportunities are the major
factors behind the exodus of health workers. Although about 3,000 doctors
graduate yearly, many prefer to migrate shortly after qualifying. In 2024,
only 58,000 of Nigeria's 130,000 registered doctors renewed their licenses,
a signal of growing disengagement.

 

In response, the government approved a National Policy on Health Workforce
Migration and allocated N46 million in the 2025 budget for its
implementation. However, there are concerns that this amount is inadequate
to address the scale of the problem.

 

The chairperson of the Lagos State branch of the Nigerian Medical
Association (NMA), Babajide Saheed, argued that there has been little
progress in the health sector, citing persistent issues such as the Japa
syndrome, human resource shortages, poor infrastructure, and rising medical
tourism.

 

Mr Saheed urged President Tinubu to "rejig the federal health system to
ensure the delivery of qualitative, accessible, and affordable healthcare."

 

According to him, tackling the Japa trend requires better remuneration for
healthcare workers, including non-taxable call duty allowances and improved
welfare packages.

 

Disease outbreaks

 

Despite various health sector interventions, Nigeria remains vulnerable to
recurring disease outbreaks, exposing the weakness of its healthcare system.

 

These outbreaks, which include diphtheria, cholera, and Lassa fever, not
only reveal gaps in emergency preparedness but also underscore the country's
limited investment in public health infrastructure, particularly in
Infection Prevention and Control (IPC).

 

In 2024, the country faced a significant diphtheria outbreak, with over
24,000 cases and 1,264 deaths reported by February 2025. The outbreak
predominantly affected children in northern states such as Kano, Borno, and
Katsina, where vaccination coverage remains minimal.

 

The WHO has continued emphasising the urgent need for stronger immunisation
systems and routine vaccination coverage to curb future outbreaks.

 

Cholera also posed a major challenge, with Lagos State accounting for 43 per
cent of the 17,139 cases and 603 deaths reported nationwide in 2024. The
outbreak was linked to water contamination, highlighting the need for
enhanced water sanitation and hygiene practices.

 

Between January and March 2025, Nigeria recorded 1,227 cholera cases and 28
deaths, placing it among the most affected countries in the African region.
This situation underscores the critical importance of investing in Water,
Sanitation, and Hygiene (WASH) infrastructure to prevent future outbreaks.

 

Lassa fever remained endemic, with 1,059 confirmed cases and 175 deaths
reported across 28 states in 2024. The disease's impact was exacerbated by
the infection of 35 healthcare workers, highlighting gaps in infection
prevention and control measures.

 

As of early 2025, 18 states had recorded at least one confirmed case across
93 Local Government Areas (LGAs), with 4,881 suspected cases, 717 confirmed
cases, and 138 deaths.

 

While routine immunisation remains a challenge, some progress was made in
2024. Nigeria became the first country to roll out the new MenFive
meningitis vaccine and also launched the Oxford R21 malaria vaccine in pilot
programmes in Kebbi and Bayelsa states, with plans for nationwide expansion.

 

Still, gaps persist. According to UNICEF, Nigeria has the world's highest
number of unvaccinated children, with 2.1 million out of 8.7 million
children under one year yet to receive a single routine vaccine dose.

 

Infection Prevention and Control (IPC)

 

Beyond vaccination, experts advocate that stronger investments in IPC are
needed to curtail future outbreaks. Yet, funding has remained a persistent
issue.

 

There was no dedicated budgetary allocation for IPC in 2024, despite the
WHO's global action plan for IPC running from 2024 to 2030.

 

Data from Nigeria's 2025 budget shows that N740 million was allocated for
IPC activities to the Nigeria Centre for Disease Control and Prevention
(NCDC) and N540 million for the National Primary Health Care Development
Agency (NPHCDA).

 

Experts have urged the Federal Ministry of Finance to ensure early release
of the funds to allow the timely implementation of IPC programmes,
particularly hand hygiene and facility-level safety protocols.

 

According to the WHO, implementing effective IPC strategies, including hand
hygiene, can result in substantial economic savings by reducing
hospital-acquired infections, treatment costs, and the overall burden on
healthcare facilities.

 

More Concerns

 

Beyond recurring disease outbreaks and workforce challenges, several other
systemic issues undermine Nigeria's healthcare delivery.

 

One persistent concern is the poor power supply hampering operations in
health facilities. There were disturbing reports from major hospitals like
University Teaching Hospital Ibadan, Lagos University Teaching Hospital
(LUTH), IBB Specialist Hospital and General Hospital, Minna, and Chukwuemeka
Odumegwu Ojukwu University Teaching Hospital (COOUTH).

 

This lack of stable electricity not only delays services but also affects
cold chain systems vital for vaccine storage.

 

Also, drug price inflation, driven by naira devaluation, import dependency,
and supply chain disruptions, makes essential medications unaffordable for
millions of Nigerians.

 

Mr Saheed of NMA suggests reducing tariffs on drugs, medical equipment, and
consumables.

 

For Tinubu's administration to make a lasting impact, experts emphasise the
need to implement practical solutions: improved welfare for health workers
to curb brain drain, investment in specialised centres to reduce medical
tourism, infrastructure upgrades, and a stronger push for universal health
coverage.

 

Signs of progress

 

The National President of NMA, Bala Audu, acknowledges meaningful progress
in the health sector under the current administration.

 

Mr Audu highlighted the enactment and implementation of the health workforce
retention policy, which aims to reduce the brain drain and encourage
Nigerian doctors abroad to return.

 

He also pointed to improvements in the medical and pharmaceutical value
chain, with government efforts to build a local production ecosystem for
drugs and medical supplies, alongside advances in research and training.

 

He noted an increase in the number of health graduates admitted into
tertiary institutions and referenced the Renewed Hope Housing Agenda that
seeks to provide housing for health workers across states, improving their
welfare and retention.

 

Mr Audu commended the government's free cesarean section programme, part of
the Maternal Mortality Reduction Innovation and Initiatives (MAMII), which
targets indigent patients to reduce maternal deaths.

 

Despite these advances, he emphasised the need for "further improvements in
budget allocations to health and expanding universal health coverage through
greater enrollment in the National Health Insurance Scheme."

 

Read the original article on Premium Times.

 

 

 

 

 

Kenya: Rose Njeri Charged Over Anti-Finance Bill Website

Nairobi — Software developer Rose Njeri Tunguru was on Tuesday formally
charged in a Nairobi court with unauthorized interference with a computer
system, following her arrest over a website used to mobilize public
opposition to the Finance Bill 2025.

 

According to the charge sheet presented at the Milimani Law Courts, Njeri is
accused of creating and hosting a website that allegedly automatically
generated and sent mass emails to the official address of the National
Assembly's Finance Committee on May 19, 2025.

 

The prosecution claimed this interfered with the normal functioning of
government systems.

 

The charge is based on Section 16 of the Computer Misuse and Cybercrimes Act
No. 5 of 2018, which criminalizes unauthorized interference with computer
systems.

 

Njeri was arrested on May 30, 2025, with police citing her website's role in
a digital campaign that flagged controversial tax proposals and allowed
citizens to directly email lawmakers in protest.

 

She was held in custody for four days, with her whereabouts unknown until
Tuesday morning, when she was moved from Pangani Police Station.

 

The prosecution presented a list of witnesses, including digital and
cybercrime experts, as well as investigating and arresting officers.

 

The Office of the Director of Public Prosecutions (ODPP) confirmed that
investigations were led by the Directorate of Criminal Investigations'
Serious Crimes Unit.

 

Njeri's case sparked national attention, with civil society groups and legal
experts calling it a crackdown on dissent and digital activism.

 

A section of leaders, including former Deputy President Rigathi Gachagua,
condemned Njeri's arrest and called for her immediate and unconditional
release.

 

The court set the case for mention later in June 2025 and released Njeri on
bond as her legal team prepares to contest the charges.

 

Read the original article on Capital FM.

 

 

 

 

Gabon: French Mining Group Digs in as Gabon Tightens Grip on Manganese
Exports

French mining group Eramet has pledged to safeguard over 10,000 jobs in
Gabon as Libreville pushes forward with a plan to ban raw manganese exports
from 2029.

 

The move, led by President Brice Oligui Nguema, was announced at the weekend
as part of a broader national strategy to industrialise Gabon’s economy and
add more value to its abundant natural resources.

 

Eramet, the main shareholder in Comilog – Gabon’s leading manganese mining
firm – said it has acknowledged the government’s decision and will continue
to engage with officials “in a spirit of constructive partnership and mutual
respect”.

 

The French firm also committed to preserving the 10,460 local jobs sustained
by Comilog and its transport arm, Setrag.

 

'Upskilling' Gabon's workforce

 

President Oligui, who took power following a 2023 coup and was elected in
April 2025 with nearly 95 percent of the vote, is seeking to reshape Gabon’s
economic model.

 

Manganese – a key ingredient in steelmaking and increasingly in electric
vehicle batteries – is one of Gabon’s top export earners alongside oil and
timber.

 

The export ban on unprocessed manganese, which will take effect from 1
January 2029, is designed to encourage local processing, upskill the
workforce, and boost tax revenues.

 

“Gabon is giving the mining sector three years to prepare,” the government
said in a statement on Saturday, outlining plans to support the transition
with a new public-private investment fund.

 

Push for domestic refining

 

The policy shift echoes a growing trend across Africa, with countries such
as Guinea, Zimbabwe, and Tanzania also moving to retain more value from
their mineral wealth by restricting raw material exports and encouraging
domestic refining and processing.

 

Eramet – which operates the world’s largest manganese mine at Moanda –
processes some ore locally in Gabon but still relies heavily on exports to
international markets including China, Europe, and the United States.

 

The company had temporarily suspended operations in Gabon during the 2023
coup and scaled back production targets in 2024 amid market headwinds.

 

What's at stake for French businesses after the coup in Gabon?

 

Stock market turbulence

 

Shares in Eramet fell by over five percent in Paris on Monday following news
of the ban, before recovering slightly to trade 4 percent lower by
mid-morning.

 

Analysts say the impact of the export restrictions will depend on how
quickly Gabon and its partners can develop local processing capacity.

 

Despite its natural wealth, around one-third of Gabon’s 2.3 million people
live in poverty.

 

The government hopes that keeping more of the value chain within the country
will change that.

 

While the path ahead presents challenges, there are signs of optimism, as
Eramet has already shown its willingness to adapt in Indonesia, where it
recently signed a memorandum of understanding to invest in local nickel
processing – a similar transition, after Jakarta banned raw nickel exports.

 

Read or Listen to this story on the RFI website.

 

 

 

 

Musk calls Trump's tax bill a 'disgusting abomination'

Elon Musk has hit out at President Donald Trump's signature tax and spending
bill, describing it as a "disgusting abomination", in a widening rift
between the two allies.

 

The budget - which includes multi-trillion dollar tax breaks and more
defence spending while also allowing the US government to borrow more money
- was passed by the House of Representatives last month.

 

"Shame on those who voted for it," Musk said in a post on X about the
legislative linchpin of Trump's second-term agenda.

 

The tech billionaire left the administration abruptly last week after 129
days working to cut costs with his team, known as Doge.

 

 

The comments mark his first public disagreement with Trump since leaving
government, after having previously called the plan "disappointing".

 

The South African-born tech billionaire's time in the Trump administration
came to an end on 31 May, although Trump said that "he will, always, be with
us, helping all the way".

 

In its current form, the bill - which Trump refers to as the "big beautiful
bill" - has been estimated to increase the budget deficit - the difference
between what the government spends and the revenue it receives - by about
$600bn (£444bn) in the next fiscal year.

 

It's Musk's last day - what has he achieved at the White House?

In a series of posts on X on Tuesday, Musk said that the "outrageous,
pork-filled" spending bill will "massively increase the already gigantic
budget deficit to $2.5 trillion (!!!) and burden America [sic] citizens with
crushingly unsustainable debt".

 

In American politics "pork" refers to spending on projects in lawmakers'
constituencies.

 

Musk, who had previously vowed to fund campaign challenges against any
Republican that votes against Trump's agenda, added a political warning in
another post.

 

"In November next year, we fire all politicians who betrayed the American
people," he wrote.

 

-BBC

 

 

 

 

 

Trump's 50% tariffs on metals come into effect

US President Donald Trump has signed an order doubling tariffs on steel and
aluminium imports from 25% to 50%.

 

The move hikes import taxes on the metals, which are used in everything from
cars to canned food, for the second time since March.

 

Trump has said the measures, which came into effect on Wednesday, are
intended to secure the future of the American steel industry.

 

However, critics say the protections could wreak havoc on steel producers
outside the US, spark retaliation from trade partners, and come at a
punishing cost for American users of the metals.

 

 

Hours before he hiked the duties, many firms directly affected could hardly
believe the plan was moving forward, hoping it would turn out to be
temporary or some kind of negotiating ploy.

 

Even as Trump signed the orders, the UK was granted a carve-out from the
measures, leaving duties on its steel and aluminium at 25%, a move Trump
said reflected its ongoing trade discussions with the US.

 

"Always the question with Mr Trump is, is this a tactic or is this a
long-term plan?" said Rick Huether, chief executive of Independent Can Co, a
Maryland-based business, which brings in steel from Europe and turns it into
decorative cookie tins, popcorn boxes, and other products.

 

Trump's moves earlier this year had prompted him to put investments on hold
and raise prices. He said he feared his customers would turn to alternatives
such as plastic or paper boxes due to all of the uncertainty.

 

"There's a lot of chaos," he said.

 

The US is the biggest importer of steel in the world, after the European
Union, getting most of the metal from Canada, Brazil, Mexico and South
Korea, according to the US government.

 

During his first term, Trump imposed tariffs of 25% on steel and 10% on
aluminium, citing a law that gives him authority to protect industries
considered vital to national security.

 

But many imports ultimately escaped the duties after the US struck trade
deals with allies and granted exemptions to certain imports at the request
of firms.

 

Trump ended those carve-outs in March, saying he was unhappy with the way
the protections had been weakened.

 

At Friday's rally at the US Steel factory, he said he wanted to make tariffs
so high that US businesses would have no alternative but to buy from
American suppliers.

 

"Nobody's going to get around that," he said of the 50% rate. "That means
that nobody's going to be able to steal your industry. It's at 25% - they
can get over that fence. At 50%, they can no longer get over the fence."

 

As of May, imports and the rate of raw steel production in the US had
changed little since last year before Trump raised tariffs, according to the
American Iron and Steel Institute.

 

But steel imports fell 17% in April, compared to March. And businesses
selling the metals into the US said they expected Trump's latest
announcement to lead to an even more dramatic drop.

 

 

Three American goods that could rise in price due to metal tariffs

Trump's moves in March had already prompted Canada and the European Union to
prepare to hit back with tariffs of their own American products.

 

On Tuesday, Olof Gill, spokesperson for economic security and trade for the
European Commission told the BBC the two sides were engaged in intense talks
to try to make progress toward an agreement.

 

"We're negotiating hard to try and make good deals," he said.

 

"We really hope that the Americans will roll back on this latest tariff
threat, as they have done on others, but that remains to be seen."

 

 

In the UK, Trump's announcement put new pressure on the government to pin
down the trade deal in the works with the US, which had been expected to
provide some protection from the March metals tariffs.

 

Trade Secretary Jonathan Reynolds met with US Trade Representative Jamieson
Greer in Paris on Tuesday.

 

His office said it was "pleased" that the trade talks had protected UK steel
from the latest duties.

 

"We will continue to work with the US to implement our agreement, which will
see the 25% US tariffs on steel removed," he said.

 

Gareth Stace, director general of UK Steel, which represents steelmakers,
told the BBC that his members had already seen orders cancelled and delayed
as a result of the 25% tariffs put in place in March.

 

He warned that a 50% tariff would be "catastrophic" for UK exports to the
US, about 7% of overall exports.

 

"The introduction of 50% tariffs immediately puts the shutters up," he said.
"Most of our orders, if not all of them, will now be cancelled."

 

Economists said the US economy is also facing damage, as prices rise as a
result of the new measures.

 

A 2020 analysis estimated that Trump's first term tariffs created roughly
1,000 jobs in the steel industry, but cost the economy 75,000 jobs in other
sectors, such as manufacturing and construction.

 

Erica York, vice president of federal tax policy at the Tax Foundation, said
that she expected to see even more extreme job losses this time.

 

"Some of the strongest evidence is against tariffs on intermediate inputs
like steel and aluminium, finding they are much more harmful because they
increase the cost of production in the United States," she said. "It's just
very foolish to double down on this type of tariff in particular."

 

Chad Bartusek is director of supply chain management at Drill Rod & Tool
Steels, a small, family-owned manufacturing business in Illinois, which
brings in about 800,000 pounds of Austrian-made steel each year, at
specifications he says are not produced in the US.

 

Mr Bartusek said he was currently waiting on three containers worth of steel
rod, which would have entered the US without duties at the start of the
year.

 

As of last week, he had expected to pay tariff costs about $72,000. Instead,
he is looking at a tariff bill of almost $145,000.

 

"I woke up Saturday morning, looked at the news and my jaw dropped," he said
of Trump's announcement.

 

Mr Bartusek said business had been steady until a few weeks ago.

 

But his firm raised prices earlier this year by 8% to 14% to help cover the
new cost of the tariffs. Now customers have been ordering more cautiously
and he has had to cut back hours for workers.

 

"It's one punch after the other," he said. "Hopefully, this settles down
quickly."-BBC

 

 

 

 

 

UK temporarily spared from Trump's 50% steel tariffs

The UK has been temporarily spared from US President Donald Trump's
executive order doubling steel and aluminium tariffs from 25% to 50%.

 

The order raises import taxes for US-based firms buying the metals from
other countries from Wednesday - but the levy remains at 25% for the UK.

 

However, the UK could end up facing the higher rate if its deal signed with
the Trump administration last month, which would see steel and aluminium
tariffs axed, does not come into force.

 

Imports of UK steel into America are currently subject to tariffs, but the
UK government said it wanted to implement the agreement to remove them "as
soon as possible".

 

 

A spokesperson said the government was "committed to protecting British
business and jobs", but the Conservatives said the order was a "fresh tariff
blow" and accused Labour of leaving "businesses in limbo".

 

Trump said in the order that the UK needed "different treatment" because of
the US-UK Economic Prosperity Deal (EPD) signed on 8 May 2025.

 

However, Trump later added that the US might increase the tariff on the UK
"on or after July 9 2025" if it "determines that the United Kingdom has not
complied with relevant aspects of the EPD".

 

What is in the UK-US tariff deal?

US steel and aluminium tariffs doubled to 50%

 

How we reached this point

10 February: Trump announces 25% tariffs on all steel and aluminium imports
to the US - the new duties kicked in on 12 March

2 April: Trump announces most countries - including the UK - will face a 10%
"baseline" tariff on all goods sent to the US

8 May: UK and US agree to reduce or remove some levies

4 June: US raises import taxes for steel and aluminium to 50% - the levy
temporarily remains at 25% for the UK

The UK's carve-out in the executive order comes after Business Secretary
Jonathan Reynolds met with US Trade Representative Jamieson Greer in Paris
on Tuesday.

 

Last month, the US and UK agreed a deal to reduce or remove tariffs on some
goods, which included cutting tariffs on UK steel and aluminium to zero and
reducing import taxes on cars to 10%. The agreement is yet to come into
force.

 

The US is the biggest importer of steel in the world, after the European
Union, getting most of the metal from Canada, Brazil, Mexico and South
Korea, according to the US government.

 

When it comes to the UK, America is the destination for about 7% of the
country's steel exports worth more than £400m, meaning tariffs have a big
impact on the industry.

 

The UK is also home to suppliers of specialist steel products, which ship
most of their goods to customers across the Atlantic.

 

 

Uncertainty and confusion

Gareth Stace, the chief executive of UK Steel, said it had been "a
rollercoaster ride of uncertainty in the last months, weeks and days", but
that the industry could "breathe a temporary sight of relief" that the UK
faced tariffs of 25%, rather than 50%.

 

He said "what we really want to get to is those tariffs removed" as agreed
by the US and UK in May.

 

"We hope that deal can be made soon enough," he added.

 

Rowan Crozier, chief executive of metal-stamping firm Brandauer in
Birmingham, said in the carve-out would mean UK-based firms would not be
seeing the same import tariffs as global competitors, but he warned "far
reaching" uncertainty was "the more damaging element".

 

"That's one thing that the Trump administration continues to do, is to
create confusion, with the hope of getting a deal," he told the BBC's Today
programme. "Essentially, our customers are less confident in forward
planning, or ordering what they need".

 

However, he said that as a specialist manufacturing business, his US
customers had little choice but to pay the tariffs at present.

 

President Trump has imposed tariffs on many countries since returning to the
White House in an attempt to encourage businesses and consumers to buy more
American-made goods.

 

Tariffs are taxes paid by businesses importing goods from foreign countries.

 

Trump hopes his policy will boost US manufacturing and jobs but many
economists have warned it could lead to higher prices for consumers.-BBC

 

 

 

 

Oreo maker sues Aldi in US over 'copycat' packaging

The corporation behind Oreo has filed a lawsuit in the US against the budget
supermarket Aldi, accusing it of "blatantly" copying the packaging of its
famous snacks.

 

Court documents showed that Mondelēz International said Aldi uses similar
packaging likely to "deceive" consumers and "ride the coattails" of the
company's "attraction, fame and prestige".

 

The snack giant also is behind Wheat Thins, Nutter Butter, Chips Ahoy!, and
Ritz - all products the company accuses Aldi of copying with its "discount"
versions.

 

Aldi US didn't respond to the BBC's request for comment, but its British
counterpart stressed that it is not involved in the lawsuit.

 

 

A spokesperson for Aldi UK told the BBC, that they are "under the same
ownership but operate as completely separate businesses".

 

Mondelēz, which submitted the lawsuit in May, said it had reached out to
Aldi several times about the "confusingly similar packaging".

 

Although Aldi did discontinue or alter the packaging of some products, the
supermarket has continued making "unacceptable copies", the lawsuit stated.

 

The company claimed that if Aldi is allowed to continued with its product
lines, it will "irreparably harm" the Mondelēz brand.

 

The lawsuit included side-by-side pictures comparing the appearances of
Mondelēz' product with Aldi's.

 

Mondelēz lawsuit A side-by-side picture of Mondelēz snacks and Aldi
snacksMondelēz lawsuit

The snack giant included side-by-side pictures of their products (L) next to
Aldi's biscuit brands (R)

 

In the lawsuit, Aldi is accused of trademark infringement, unfair
competition and unjust enrichment. Mondelēz said it is seeking damages.

 

Mondelēz described Aldi's business model as hinging on "low-priced private
label products that resemble the look and feel of well-known brands".

 

Aldi, which has its headquarters in Germany, is known as a discount
supermarket offering affordable alternatives to well-known brands.

 

There are over 2,500 Aldi shops in the US.

 

This is not the first time Aldi has been embroiled in a trademark battle.
Earlier this year, it lost a battle with Cider producers Thatchers, which
accused the supermarket of copying its drink in "taste and appearance".-BBC

 

 

 

 

 

Debt and trade issues weaken UK growth, OECD says

UK economic growth will suffer because of US tariff barriers and high
interest payments on government debt, an influential global policy group has
said.

 

The Organization for Economic Co-operation and Development (OECD) cut its
expectations for UK growth this year to 1.3% from the 1.4% it had predicted
in March.

 

The think tank has cut forecasts globally due to trade tensions, but said
the UK faced particular issues due to its "very thin" buffer in public
finances, calling on Chancellor Rachel Reeves to boost tax take and cut
spending.

 

In response to the OECD's comments, Reeves said she was "determined to go
further and faster to put more money in people's pockets through our plan
for change".

 

 

Next week, Reeves will set out her Spending Review where she faces tough
choices on allocating departmental budgets.

 

The government has already committed billions of pounds to defence, while
the NHS is also expected to be a focus amid Labour's pledge to reduce
waiting lists.

 

In March, Reeves was forced to announce £14bn in measures, including £4.8bn
in welfare cuts, to restore headroom against her self-imposed fiscal rules.

 

While the OECD highlighted better-than-expected UK economic growth, which
strengthened to 0.7% between January and March, it cautioned that "momentum
is weakening" due to "deteriorating" business sentiment.

 

It forecast the UK economy would expand by 1% in 2026, compared to the 1.2%
it pencilled in a few months ago.

 

"The state of the public finances is a significant downside risk to the
outlook if the fiscal rules are to be met," the OECD said.

 

It suggested that Reeves should adopt a "balanced approach" of "targeted
spending cuts" and tax increases to improve the UK's public finances.

 

"Strengthening the public finances remains a priority... including through
the upcoming Spending Review," the OECD said.

 

It suggested closing tax loopholes and re-evaluating council tax bands based
on updated property values.

 

Under the current system, council tax in England is calculated based on the
price the property would have sold for in April 1991. For Wales, it is
evaluated on property prices in April 2003.

 

'Modest' global growth

Meanwhile, worldwide growth is now expected to slow to a "modest" 2.9%, down
from a previous forecast of 3.1%, the OECD said.

 

It blamed a "significant" rise in trade barriers and warned that "weakened
economic prospects will be felt around the world, with almost no exception".

 

The OECD's comments come as Bank of England governor Andrew Bailey told a
Treasury Select Committee on Wednesday that the global system of trade
agreements had been "blown up to a considerable degree" by global trade
tensions.

 

Since US President Donald Trump returned to the White House, a long list of
countries have been targeted by tariffs, but Trump's unpredictable approach
to implementing the measures has created widespread uncertainty.

 

"We are forecasting basically a downgrade for almost everybody," Alvaro
Pereira, the OECD's chief economist told the BBC.

 

"We'll have a lot less growth and job creation than we had forecasted in the
past."

 

The group also slashed the outlook for the US economy this year from 2.2% to
1.6% and predicted growth would slow again in 2026.

 

It warned that the US was at risk from rising inflation, something that
Trump repeatedly promised would fall during his presidential campaign.

 

Prior to the release of the OECD report on Tuesday, Trump wrote on social
media: "Because of Tariffs, our Economy is BOOMING!"

 

However, the most recent official data showed the US economy shrank at an
annual rate of 0.2% in the first three months of this year, the first
contraction since 2022.-BBC

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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

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

 


 

 


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