Major International Business Headlines Brief::: 19 March 2025

[Bulls n Bears]

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Major International Business Headlines Brief:::  19 March 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  South Africa: Prasa Can't Say When Durban's Northern Coast Line Will Open
Again

ü  Uganda: Museveni Says Government to Create Special Fund for Fishermen

ü  Kenya: Treasury Seeks External Borrowing to Fund Counties As Cash Crisis
Linger

ü  Nigeria: Oil Workers Threaten Nationwide Strike Over Expatriate Quota
Violation

ü  Rwanda: A Rwanda Without Belgium? Six Decades Overdue

ü  South Africa: U.S. 'Deserves Better' as Expelled Ambassador Rasool
Readies for Return to South Africa

ü  South Africa: Eskom Suspends Services in Part of Khayelitsha After
Hijacking

ü  Morocco Cuts Interest Rate Again As Inflation Steadies

ü  Ethiopian Airlines Gets AfDB Backing to Build Africa's Largest Airport

ü  Sudan: Rural Areas Hardest Hit As Sudan Inflation Soars

ü  Malawi: 'We Have Worshipped Mediocrity for Too Long' Charges Mumba As
Malawi Moves to Restrict Imports Amid Forex Crunch, Pledges to Shield Local
Industry

ü  Namibia 3 Weeks Away From First Green Iron Production

ü  Google agrees to pay $28m in racial bias lawsuit

ü  Splurge or save? Americans struggle as tariffs hit economy

 


 <mailto:info at bulls.co.zw> 

 


 

South Africa: Prasa Can't Say When Durban's Northern Coast Line Will Open
Again

Repairs to Durban's KwaMashu and Northern Coast train lines have not yet
started and will probably take more than a year.

 

The Metrorail lines were heavily damaged by floods in 2022, leaving large
portions of both routes with only one track. Subsequent theft and vandalism
of overhead track equipment mean the tracks cannot be used.

 

There is a partial service on the KwaMashu line, between Durban and
KwaMashu, via Greenwood Park, from 4.10am to 8.10pm. Trains run one at a
time and are almost always behind schedule. The Northern Coast line is
completely closed, so no trains run north of Duff's Road.

 

 

In September, GroundUp reported that PRASA and Transnet, which owns and
operates the lines, were "at an advanced stage" of talks about refurbishing
the North Coast and KwaMashu lines. PRASA estimated it would take 18 months
to restore the line once an agreement was reached with Transnet.

 

PRASA spokesperson Andiswa Makanda told GroundUp this week that a Memorandum
of Understanding with Transnet is in its "final stages". This will allow
PRASA to repair the KwaMashu line from Umngeni to Duff's Road via Effingham
and the North Coast line from Duff's Road to KwaDukuza (Stanger).

 

However, Makanda said, "there are no timelines yet and the budget to repair
the lines is not yet final."

 

GroundUp spoke to Sakhiseni Nzuza, a security guard working in the Duffs
Road area, who was waiting for a delayed train to Durban at Duffs Road
Station.

 

Nzuza told GroundUp that his commute to and from his home in the Durban CBD
is usually a struggle. "The trains always run very late," he said. He often
arrives late for work. But he acknowledged that the trains are clean and
safe inside.

 

Shortly after GroundUp spoke to Nzuza, a train stopped at the station but it
was heading in the other direction and still had to travel all the way to
KwaMashu and back.

 

Since November, PRASA has been repairing signalling equipment on the
operational portion of the KwaMashu line, as part of its National Recovery
Programme, Makanda said.

 

She explained that once these repairs are completed, additional train sets
will be added to the line and travel times will be reduced. A shuttle
service between Duffs Road and Bridge City has also been added, said
Makanda.

 

Read the original article on GroundUp.

 

 

 

 

 

Uganda: Museveni Says Government to Create Special Fund for Fishermen

The government will create a special fund for fishermen, aimed at improving
their livelihoods.

 

This was revealed by President Museveni during a visit to Mr. Titus
Tumusiime's farm in Sironko village, Nyamukutu parish, Butiaba Sub-county,
Buliisa County, Buliisa district. Mr. Tumusiime is one

 

of the beneficiaries of the Parish Development Model (PDM) program in the
district.

 

The president, who is on a performance assessment tour on PDM in Bunyoro sub
region, stated that the initiative money is not enough for the fishermen,
thus suggesting that the government will come up with an additional form of
financial support for the group.

 

 

"The fishermen's fishing tools such as boats, and fishing nets are
expensive. The PDM money isn't enough for them to purchase these tools. And
so, we shall create other funds for them," he said.

 

He therefore resolved by calling for a meeting with the fishing community
leaders in May this year to discuss more on the matter.

 

On the other hand, during the visit, President Museveni who appreciated Mr.
Tumusiime for being a model farmer, contributed Shs10m to him to buy a tuk
tuk to help him in transporting pig feeds and Shs25m to buy a grinder.

 

During the same event, President Museveni asserted that he has no problem
with the Kingship of Bugungu called Butebengwa, and he promised to call for
the meeting between the Butebengwa team and

 

Bunyoro Kitara Kingdom to create sanity.

 

The president's response came after Allan Atugonza of Buliisa County,
informing him about the Kingship of the Bugungu called Butebengwa.

 

He expounded that all the approval and process of Butebengwa as a kingdom is
complete and the proposal has already been submitted to the Ministry of
Gender, Labour and Social development waiting for gazettement.

 

About the lake wrangles in the area, President Museveni urged the local
leaders to get involved in handling Lake Albert issues and he promised to
organize a stakeholders' meeting in May this year to discuss more about the
lake.

 

Additionally, Atugonza commended the President for initiating poverty
alleviation programs like the PDM that have improved the lives of Ugandans.

 

On his part, Mr. Tumusiime thanked President Museveni for the PDM
initiative, saying that it has been very instrumental in helping him create
household income.

 

Mr. Tumusiime who received Shs997,000 PDM money after bank charges on 15th
of November 2023, informed the president that he bought six pigs at
Shs120,000 each.

 

He then spent Shs 120,000 on pig feeds, Shs70,000 to construct a fence for
the pigs, Shs 40,000 on drugs, Shs 40,000 on transportation.

 

He added that later, two female pigs produced 26 piglets while three pigs
produced 22 piglets, making a total of 48 piglets.

 

He sold the first 26 piglets each at Shs 100,000, earning Shs2,600,000.

 

The other 22 piglets were sold at Shs. 80,000 and he earned Shs1,700,000.
All together he earned Shs 4,300,000. Since then, the rest is history.

 

The visit was also attended by Ministers, Members of Parliament, among other
leaders.

 

Read the original article on Nile Post.

 

 

 

 

Kenya: Treasury Seeks External Borrowing to Fund Counties As Cash Crisis
Linger

Nairobi — The National Treasury has defended its decision to turn to
external borrowing to fund county allocations, citing the need to sustain
service delivery in the devolved units.

 

Appearing before the Senate Finance Committee, Treasury Cabinet Secretary
John Mbadi dismissed concerns over rising public debt, arguing that external
financing remains a necessary tool in keeping counties operational.

 

Mbadi revealed that the government has outstanding arrears for county
disbursements, including two months' payments for February and March, along
with an additional balance of Sh14.6 billion for January.

 

 

"We recognize the challenges posed by our debt levels; however, securing
affordable external financing is crucial to support our counties, which are
the backbone of local development and service delivery," Mbadi said.

 

The Senate Finance Committee, chaired by Mandera Senator Ali Roba, raised
concerns over the country's debt sustainability, noting that Kenya's
debt-to-GDP ratio stood at 65.7% as of June last year, surpassing the
recommended threshold of 55%.

 

Senators questioned the government's ability to manage its fiscal
obligations, particularly in light of rising debt-servicing costs.

 

However, Mbadi assured the committee that the government is implementing a
structured borrowing strategy to prevent economic strain.

 

"We are not just borrowing for the sake of it. Every loan we secure is meant
to address critical funding gaps, especially where domestic revenue is
insufficient. The counties need these funds to pay salaries, provide
essential services, and complete ongoing projects," he stated.

 

To address the financial shortfall, the government has sought a $1.5 billion
budget support loan from the United Arab Emirates (UAE) at an 8.25% interest
rate. Discussions are also ongoing with the World Bank for a $750 million
loan under the Development Policy Operations program, which is contingent on
policy reforms.

 

"We are also in talks with other international lenders, including the World
Bank and the African Development Bank, to secure financing that will allow
us to meet our obligations without putting too much pressure on domestic
borrowing," Mbadi explained.

 

Revenue Automation

 

Beyond borrowing, the Treasury is ramping up efforts to improve revenue
collection through automation, aiming to reduce leakages and curb
mismanagement of public funds.

 

The Kenya Revenue Authority (KRA) has already made strides in this area,
rolling out the e-TIMS system and expanding digital payment platforms to
enhance tax compliance.

 

The Treasury is also working on an integrated financial management system
for counties to improve transparency in public funds utilization. However,
Mbadi noted that its rollout is yet to begin due to ongoing stakeholder
consultations with intergovernmental agencies.

 

"Automation is the future. We are committed to ensuring that every shilling
collected is accounted for, and that counties can access their funds
efficiently without unnecessary bureaucratic hurdles," he said.

 

He expressed optimism that these reforms would help the country reduce its
reliance on borrowing over time.

 

"As we enhance revenue collection through automation and streamline our
financial management processes, we expect to reduce the need for borrowing
in the long term," he added.

 

Read the original article on Capital FM.

 

 

 

 

 

 

Nigeria: Oil Workers Threaten Nationwide Strike Over Expatriate Quota
Violation

The Petroleum and Natural Gas Senior Staff Association of Nigeria
(PENGASSAN) has threatened a nationwide strike over what it described as the
blatant violation of Nigeria's expatriate quota laws by an Indian oil firm,
Sterling Oil Exploration and Energy Production Company Limited (SEEPCO).

 

Speaking to journalists in Abuja yesterday, PENGASSAN president, Comrade
Festus Osifo, accused SEEPCO of violating local content regulations by
employing over ten thousand Indian workers for jobs meant for Nigerians.

 

According to Osifo, the current frustrations were fueled by previous
attempts to address these concerns through regulatory bodies, which have
yielded little fruit.

 

 

LEADERSHIP reported that PENGASSAN picketed the company's headquarters at
Victoria Island, Lagos State, last week over anti-labour practices and other
grievances.

 

However, the company responded via a statement that it adhered to federal
laws and industry regulations as a responsible corporate citizen.

 

But Osifo pointed to violations of Nigeria's Local Content Act, particularly
Section 35, which states that only Nigerians should be employed in junior
and intermediate positions, and Section 32 which allows a maximum of 5 per
cent expatriate workers in management roles.

 

According to Osifo, SEEPCO has brought in over 10,000 Indian workers, many
of whom are employed in low and mid-level positions such as welders,
vulcanisers, security guards, cooks, and panel operators - roles that, by
law, should be reserved for Nigerians.

 

Osifo demanded immediate repatriation of all Indian expatriates occupying
jobs meant for Nigerians and called for the reinstatement of the 18 sacked
workers, full unionisation rights for contract staff and strict enforcement
of local content laws by government agencies, with SEEPCO held accountable
for past violations.

 

He warned that if the government fails to intervene and the demands are
unmet, the union would have no choice but to shut down the country's oil and
gas sector.

 

He said, "In a country where unemployment is at an all-time high, these are
jobs that Nigerians should do, but every Tuesday, between 200 and 500
Indians arrive in Nigeria, replacing local workers. This is unacceptable.

 

"While other oil companies comply with these laws, SEEPCO occupies 100 per
cent of its management positions by Indians.

 

"Sterling Oil Energy Exploration and Production Company has operated in
Nigeria for quite a while. They have consistently violated our laws and
regulations by bringing everyone to work in Nigeria.

 

"If other companies, indigenous producers and multinationals can comply with
our laws, why should Sterling be an exception? Sterling cannot be bigger
than Nigeria."

 

PENGASSAN also accused SEEPCO of anti-labour practices, including the
unlawful termination of the appointment of 18 Nigerian workers who raised
concerns about their welfare and career growth.

 

Osifo added that the company had prevented contract workers from unionising
despite Ministry of Labour and Employment directives.

 

Read the original article on Leadership.

 

 

 

 

 

Rwanda: A Rwanda Without Belgium? Six Decades Overdue

After our ancestors fought for independence, a resistance that cost more
than an arm and a leg, it hasn't been easy for African countries to cut ties
with colonial powers. Instead, they kept a heavy dependence on finance,
military, and politics.

 

Among these countries was unfortunately Rwanda, but as of March 17, not
anymore, because the country severed diplomatic relations with Belgium,
ordering all Belgian diplomats to leave the country within 48 hours.

 

ALSO READ: Belgium funds genocide denial organizations, says Minister
Bizimana

 

 

For years, Belgium has positioned itself as Rwanda's watchdog, even after
independence in 1962. Although its stance on the ongoing DR Congo crisis may
have been the last straw, it is not their worst when it comes to colonial
and neo-colonial destruction.

 

The country's role in dividing Rwandans into made-up ethnicities led to
decades of persecution that culminated into the 1994 Genocide Against the
Tutsi. In fact, the genocidal governments since independence were closely
allied with Belgium. Even today, this country remains the safest haven for
genocide fugitives and their families that openly negate or deny the
Genocide.

 

ALSO READ: Rwanda cuts diplomatic ties with Belgium

 

The ongoing conflict in DR Congo has its roots in the Genocide, as well as
colonization by Belgium. Nevertheless, the country's open hostility against
Rwanda is not justified and may give the impression that Rwanda answers to
Belgium.

 

Rwanda's decision to cut ties with Belgium raises questions about the future
of the countries, but for a moment, we should imagine a Rwanda without
Belgium six decades ago, or perhaps, a century ago.

 

Read the original article on New Times.

 

 

 

 

South Africa: U.S. 'Deserves Better' as Expelled Ambassador Rasool Readies
for Return to South Africa

The U.S. expects a certain level of respect from other nations, U.S. State
Department spokesperson Tammy Bruce said in a press briefing. Bruce said
that America "deserves better" regarding the standard of diplomatic
relations, calling for a representative who can facilitate constructive
dialogue between the two nations.

 

She was talking about Ebrahim Rasool, South Africa's ambassador to the U.S.
who was declared "persona non grata" after comments he made about President
Donald Trump's administration.

 

"If we don't have a standard about the nature of someone ... who is supposed
to be a diplomat to help facilitate the relationship between two countries
... we deserve better," said Bruce.

 

The decision to expel Rasool was announced by Secretary of State Marco
Rubio, who called Rasool a "race-baiting politician" who hates Trump,
according to a post on the social media platform X.

 

Rasool had described Trump ally Elon Musk's outreach to far-right figures in
Europe as a "dog whistle" in the global movement to rally people who view
themselves as members of an "embattled white community". During his speech,
Rasool didn't comment on Trump, but offered tips for dealing with his
administration: "This is not the moment to antagonize the United States."

 

 

Bruce said that Rubio announced Rasool's expulsion, their senior-level
diplomats convoked the South African embassy staff for an in-person meeting
at the State Department. "Our officials delivered the official notification
of Ambassador Rasool's persona-non-grata status, and it was done," she said.

 

"These remarks were unacceptable to the United States – not just to the
President, but to every American. It was – they were pretty much obscene
when it came to the nature of what was – of what was alleged. And so that
is, I think, at the very least what we should expect, is a standard of some
respect – basic, low-level respect – if you're in a position that is going
to help facilitate any kind of diplomatic relationship with another
country," said Bruce.

 

 

She said Rasool's diplomatic privileges expired three days after the notice,
and he will then need to leave the country.

 

Rubio's decision was the latest move targeting South Africa by the Trump
administration

 

In February, Trump signed an executive order that described South Africa's
white minorities as "victims of unjust racial discrimination" after a land
policy bill passed. Trump said that the land policy discriminates against
white Afrikaner farmers and violates human rights. In addition, he directed
his officials to prioritize the resettlement of white Afrikaners and their
families to the U.S., as refugees. The South African government denied there
was any land confiscation or racial discrimination, saying the law under
review targets land that is not being used or that does not serve the public
interest. They claimed that Trump's claims about the country and the law
contain misinformation and distortions.

 

Trump also ordered his administration to halt foreign assistance to South
Africa.

 

"The unjust land expropriation law, as well as its growing relationship with
countries like Russia and Iran, that's what prompted the serious review of
our South Africa policy, which continues to be underway. They have taken
also the South African government's aggressive positions toward the United
States and its allies, including accusing Israel, not Hamas, of genocide in
the International Court of Justice and reinvigorating its relationship with
Iran to develop commercial, military, and nuclear arrangements", said Bruce.

 

According to the U.S. State Department spokesperson, the U.S. views South
Africa's actions as detrimental to global security and prosperity, not
merely as issues of diplomatic tone or behavior.

 

Bruce said U.S. policy toward South Africa is "to encourage a change, adding
that "the nature of the Secretary of State is to make things better for
people. It is not to punish or to target people or countries."

 

 

 

 

 

 

South Africa: Eskom Suspends Services in Part of Khayelitsha After Hijacking

Eskom has suspended its services to part of Khayelitsha in Cape Town after
employees were hijacked and robbed over the weekend. In other parts of the
township, residents have started escorting Eskom workers themselves to
protect them from being attacked or robbed.

 

On Saturday, Eskom employees who had been called out to fix a problem in
Makhaza were approached by three armed men.

 

According to police spokesperson Captain FC van Wyk, the men pointed
firearms at the employees and forced them to hand over the car keys. "The
employees were forced into their work vehicle by the men whose faces were
covered. They were dropped in Green Point (in Khayelitsha). Four cellphones,
a car battery, two step ladders and devices belonging to Eskom were stolen."

 

A case of carjacking is under investigation and no arrests had yet been
made, he said.

 

 

Eskom has suspended services in Makhaza until further notice. In a statement
on Sunday, Eskom said this would mean delays with repairs. Eskom management
and security services would meet police and community leaders to try to find
ways to ensure the safety of staff before services resume.

 

Ward 95 councillor in Makhaza Ayanda Tetani said he was already receiving
complaints from residents about problems with electricity. "Unfortunately,
this is not the first time that Eskom services have been suspended in
Makhaza due to crime. This has happened in Nkanini and Zwezwe before."

 

Last year GroundUp reported two occasions where Eskom withdrew its services
in Khayelitsha in the Endlovini informal settlement due to crime. On one
occasion the security vehicle accompanying Eskom workers into Endlovini was
hijacked. On the second occasion, Eskom employees who were repairing a fault
were held at gunpoint. They escaped unharmed, but their vehicle was shot at.

 

In at least two parts of Khayelitsha, Site C and Harare, residents have
started guarding Eskom employees themselves. "The last time we had an
incident of violence in our area was about two years back, where contractors
were almost robbed," said Harare ward councillor Anele Gabuza. He said since
then whenever Eskom workers or City of Cape Town services staff came to the
area "they let us know in advance and we make sure that enough people are
around to guard them."

 

"Sometimes it is up to us as residents to stand up and keep our communities
safe," said Gabuza.

 

Read the original article on GroundUp.

 

 

 

 

Morocco Cuts Interest Rate Again As Inflation Steadies

Morocco's central bank, Bank al-Maghrib, has cut its benchmark interest rate
to 2.25% from 2.5%, marking the second consecutive reduction. The move comes
despite global trade uncertainties, particularly due to the protectionist
policies of former U.S. President Donald Trump, which have stirred concerns
about Morocco's trade relations. The central bank's decision surprised
analysts, as two of the country's main banks had expected the rate to remain
unchanged.

 

 

The central bank cited confidence in inflation, which it forecasts will
remain around 2% over the next two years. The rate cut aims to support
economic activity and employment, and follows previous reductions in June
and December 2024. Inflation, which surged to a record high in 2023, has
been controlled, and the government hopes to encourage investment,
especially ahead of the 2030 FIFA World Cup.

 

However, the global trade landscape remains complicated by Trump's tariffs,
which could affect Morocco's trade, particularly with the U.S. and China.
Despite these challenges, March's strong rainfall offers a glimmer of hope,
with expectations of improved domestic food supplies.

 

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Download here

 

Key Takeaways

 

Morocco's decision to cut interest rates further signals confidence in its
ability to manage inflation despite external economic pressures. While
concerns about the U.S.-China trade war persist, the rate cuts are designed
to support the country's economic recovery and investment drive, including
preparations for the 2030 World Cup. The strong rainfall in March also
brings relief after years of drought, potentially helping to ease food
inflation. However, challenges remain, particularly for Morocco's livestock
sector, which has suffered significantly due to the drought, and the
political ramifications of this could affect public sentiment.

 

Read the original article on Daba Finance.

 

 

 

 

 

Ethiopian Airlines Gets AfDB Backing to Build Africa's Largest Airport

The Bishoftu International Airport project, valued at $7.8 billion, will
increase Ethiopia's passenger capacity from 17 million to over 60 million
annually by 2040

The new airport, located about 40 kilometers southeast of Addis Ababa, will
handle more than 100 million passengers annually once fully operational.

Ethiopian Airlines has partnered with the African Development Bank (AfDB) to
develop a new airport near Addis Ababa. The Bishoftu International Airport
project, valued at $7.8 billion, will increase Ethiopia's passenger capacity
from 17 million to over 60 million annually by 2040. This will make it the
largest airport in Africa upon completion.

 

The partnership is expected to address the growing demand for air travel and
cargo services, which the current Bole International Airport can no longer
accommodate. The new airport, located about 40 kilometers southeast of Addis
Ababa, will handle more than 100 million passengers annually once fully
operational.

 

 

In August 2024, Ethiopian Airlines signed a memorandum of understanding with
Dubai-based consulting firm Dar to design the new facility. The project is
slated for completion in five years and is expected to significantly enhance
Ethiopia's economic development while boosting Africa's global air
connectivity. The mega airport will reinforce Africa's position as a key
aviation hub.

 

Key Takeaways

 

The Bishoftu International Airport project underscores the growing demand
for air travel in Africa, particularly in East Africa, which is becoming a
key player in global aviation. Ethiopian Airlines' initiative highlights the
continent's ambitions to develop world-class infrastructure that can handle
rising passenger and cargo volumes. With the support of the African
Development Bank, this mega-airport will not only facilitate trade and
tourism but also contribute to Ethiopia's broader economic growth and
Africa's regional integration. This development signals a shift toward
stronger intra-African connectivity and greater investment in the
continent's aviation infrastructure.

 

Read the original article on Daba Finance.

 

 

 

 

 

Sudan: Rural Areas Hardest Hit As Sudan Inflation Soars

Port Sudan — The annual inflation rate in Sudan, measured in February, has
risen 142.34% higher than the corresponding month last year, with the
monthly rate from January to December 2025 increased by 1.15%, the Central
Bureau of Statistics (CBS) says. The year-on-year inflation rates show that
rural areas are impacted hardest, with an increase in the Consumer Price
Index (CPI) of 155.84%, as opposed to 123.32% for their urban counterparts.

 

According to the data released by the CBS in a statement this week, the CPI
recorded 382533.02 points for February 2025, while it was 157847.54 points
in February 2024, an increase of 224685.48 points. The rate of change of the
general level of prices in January 2025 increased by 145.14% compared to the
previous year.

 

 

The general CPI for February 2025 recorded an increase of 382533.02 points
compared to 378186.19 points in January 2025, an increase of 4346.83 points,
a monthly rate of change of 1.15%.

 

The general CPI of the food and beverage sector recorded 162439.07 points
for the month of February 2025 compared to 161179.17 points in January 2025,
an increase of 1259.90 points, i.e. a monthly rate of change of 0.78%.

 

The CBS says stated that the price index of consumer and service goods for
the food and beverage sector recorded 162439.07 points for the month of
February 2025, while it was 71106.19 points in February 2024, an increase of
91332.88 points, with an annual rate of change (inflation) of 128.45% (that
is, the rate of change of prices for the food and beverage sector in
February 2025 increased by 128.45% compared to its counterpart in the
previous year).

 

Urban inflation

 

The urban CPI recorded 273560.25 points for February 2025, compared to
122498.23 points in February 2024, an increase of 151062.02 points, with an
annual rate of change (inflation) of 123.32% (i.e. the rate of price change
for urban areas in February 2025 increased by 123.32% compared to the
previous year).

 

Inflation in rural areas

 

The CPI in rural areas recorded 497221.82 points for February 2025, compared
to 194350.49 points in February 2024, an increase of 302871.33 points, with
an annual rate of change (inflation) of 155.84% (meaning that the rate of
price change for rural areas in February 2025 increased by 155.84% compared
to the previous year).

 

Famine

 

As previously reported by Radio Dabanga, prices, especially for food and
basics, have soared across Sudan, as supplied dwindle and amid dire
logistical challenges.

 

The UN aims to reach nearly 21 million vulnerable people with life-saving
aid and protection in 2025, however, sudden funding cuts by top government
donors present "a catastrophic blow to humanitarian assistance in Sudan",
with an estimated $4.2 billion needed for humanitarian support, yet only 6.3
per cent of the funding has been received, the UN says. In its latest Global
Humanitarian Overview, the UN says that "this is the highest number of
people in any UN-coordinated plan this year" in terms of its 2025
Humanitarian Needs and Response Plan (HNRP) for Sudan.

 

Read the original article on Dabanga.

 

 

 

 

Malawi: 'We Have Worshipped Mediocrity for Too Long' Charges Mumba As Malawi
Moves to Restrict Imports Amid Forex Crunch, Pledges to Shield Local
Industry

Government has rolled out a sweeping import restriction on a list of
commonly consumed goods in a bid to curb foreign exchange depletion and
stimulate local production.

 

In a robust statement issued during a press briefing on Monday, Minister of
Trade and Industry, Vitumbiko Mumba, justified the gazetted Control of Goods
(Import and Export) (Commerce) (Prohibition) Order, 2025, describing it as a
bold move to "safeguard the economy, create jobs, and build a resilient
Malawi."

 

The new order, which was gazetted on March 13, 2025, temporarily bans the
importation of several goods that authorities say can be sourced from
Malawian producers. The affected products range from staple food items like
maize flour, fresh milk, and Irish potatoes, to manufactured goods such as
security boots, wooden furniture, toothpicks, and bottled water.

 

 

"This restriction is not a permanent ban, but a necessary intervention given
our acute foreign exchange shortages and the alarming surge in demand for
imports," said Mumba.

 

He stressed that the move is anchored in Malawi's long-term development
agenda to reduce dependency on imports and empower domestic producers.

 

Mumba framed the measure as a deliberate effort to insulate local industries
from what he called "crippling foreign competition," while accelerating job
creation across agriculture and manufacturing sectors.

 

"We cannot continue being a supermarket economy," Mumba declared. "This is
the time for our farmers, cooperatives, and manufacturers to step up, scale
up, and claim their rightful share in the domestic market."

 

 

He cited success stories of local businesses such as Chatha Leather Design
Studio, which recently supplied 1,300 security boots for the Malawi Defence
Force, and local dairy companies that are capable of meeting the nation's
milk demands.

 

Mumba called on producers to prioritize quality and certification. "Get MBS
certification and your products will be supermarket-ready," he urged,
referring to the Malawi Bureau of Standards.

 

Beyond import restrictions, Mumba revealed that the ministry has uncovered
"rampant cartel behavior" and illegal business practices exacerbating
Malawi's economic woes.

 

"We have witnessed shameful acts such as hoarding essential goods like
sugar, illegal price collusion among cooking oil manufacturers, and
discriminatory selling practices where foreigners bypass local vendors in
the kaunjika (secondhand clothes) sector," he revealed.

 

 

He warned that such conduct borders on economic sabotage, pledging new
legislation to crack down on anti-competitive behavior. "The ministry will
soon introduce the Essential Goods and Services Act and the Economic
Sabotage Act to restore order to Malawi's trade environment," Mumba said.

 

Citing regional examples like Botswana's seasonal import controls on
vegetables, Mumba argued that Malawi's move is aligned with global best
practices aimed at empowering domestic producers.

 

He also pointed to Malawi's untapped potential, referencing thriving
cooperatives and SMEs in areas such as Phalombe and Jenda that are already
producing certified, market-ready goods.

 

"This is a strategic shift toward self-reliance, in line with Malawi's
vision of becoming an industrialized, upper-middle-income country," Mumba
stated.

 

Anticipating criticism, the minister emphasized that the order is a stopgap
measure intended to stabilize the economy while giving local industries
breathing room.

 

"We are not closing Malawi off to the world. We are protecting ourselves
from unsustainable practices," he said. "If local producers fail to rise to
the occasion, we will reconsider this order."

 

Mumba also took a swipe at business owners who claim political connections
to avoid regulatory compliance. "Supporting the ruling party is not a
license for illegality," he warned.

 

Mumba pledged to work closely with supermarkets to integrate more
locally-sourced goods into their supply chains and encouraged commercial
banks to increase financing to the productive sector.

 

He further announced that the Ministry of Trade and Industry will soon
automate the export/import licensing process and intensify efforts to
attract genuine foreign direct investment (FDI).

 

"We want investment that brings real value, not middlemen who siphon profits
while Malawians suffer," he said.

 

The restriction order will remain in force until March 2027, with periodic
reviews to assess its impact. The ministry also plans to collaborate with
the Malawi Investment and Trade Centre (MITC) to improve the country's trade
facilitation and ensure meaningful participation of local investors in
Special Economic Zones.

 

Concluding the press briefing, Mumba called on all Malawians to rise above
mediocrity and embrace a new economic paradigm.

 

"We have worshipped mediocrity for too long," he said. "This is our moment
to chart a new path - one that prioritizes local innovation, production, and
empowerment."

 

Read the original article on Nyasa Times.

 

 

 

 

Namibia 3 Weeks Away From First Green Iron Production

Hyiron Oshivela is set to produce its first green iron ore in three weeks
after the company announced the successful production of green hydrogen last
week.

 

This will be the continent's first production of green iron, which is iron
produced using sustainable, low-carbon methods.

 

HyIron chief executive and co-founder Johannes Michels says the company
produced a few kilograms of green hydrogen last week, another milestone for
the country.

 

"Since we are still busy optimising the system, we only produced small
amounts of a few kilograms of hydrogen. But subsequently we are ramping up
the volumes until we can produce around 215kg of green hydrogen per hour,"
says Michels.

 

 

Green hydrogen is needed for the production of green iron, which is used in
steel production.

 

"We plan to do the first production of iron in two to three weeks," said
Michels.

 

Last year HyIron's signed an offtake agreement with German steelmaker
Benteler, which will buy up to 200 000 tonnes (t) of direct reduced iron
(DRI) from the company, more than 13 times HyIron's production capacity (15
000t) in the first phase of the project's development.

 

The initial phase required investments of 30 million euros (about N$595
million), over 40% of which took the form of grants from the German
government.

 

The remaining sum was mustered by the company's founders.

 

HyIron expects the second phase of development to begin in mid-2025, which
will result in a tenfold increase of solar power capacity and will require
an investment of 230 million euros (about N$4.56 billion).

 

The third phase is envisioned to start in 2026 and will once again increase
capacity tenfold.

 

This will require another 2.3 billion euros (about N$45.6 billion).

 

By 2030, HyIron aims to produce two million tonnes of DRI per year.

 

HyIron's DRI production process is entirely carbon-free due to its use of
hydrogen as fuel. The water utilised in the process is recycled infinitely
meaning no water source is being depleted.

 

HyIron is one of the green hydrogen projects operating in Namibia after the
first official perspective on the implications of green hydrogen was
officially released in the Harambee Prosperity Plan II (HPP II) in March
2021.

 

The company is currently in the process of launching a similar project in
Australia and is also considering projects in Angola and Brazil, as well as
up to four additional locations in Namibia.

 

The Green Hydrogen Strategy published in November 2022 states that "hydrogen
could accelerate Namibia's socio-economic development" and that "by 2030 the
hydrogen industry could contribute up to US$6 billion (about N$119 billion)
to gross domestic product (GDP), 30% more than 2030 GDP estimates with no
hydrogen industry development. This would boost labour demand by generating
up to 80 000 additional jobs by 2030 and up to 600 000 by 2040".

 

Read the original article on Namibian.

 

 

 

 

 

Google agrees to pay $28m in racial bias lawsuit

Google has agreed to pay $28m (£21.5m) to settle a lawsuit that claimed
white and Asian employees were given better pay and career opportunities
than workers from other ethnic backgrounds, a law firm representing
claimants says.

 

The technology giant confirmed it had "reached a resolution" but rejected
the allegations made against it.

 

The case filed in 2021 by former Google employee, Ana Cantu, said workers
from Hispanic, Latino, Native American and other backgrounds started on
lower salaries and job levels than their white and Asian counterparts.

 

The settlement has been given preliminary approval by Judge Charles Adams of
the Santa Clara County Superior Court in California.

 

 

The case brought by Ms Cantu against Google relied on a leaked internal
document, which allegedly showed that employees from some ethnic backgrounds
reported lower compensation for similar work.

 

The practice of basing starting pay and job level on prior salaries
reinforced historical race and ethnicity-based disparities, according to Ms
Cantu's lawyers.

 

The class action lawsuit was filed for at least 6,632 people who were
employed by Google between 15 February 2018 and 31 December 2024, according
to Reuters news agency.

 

Cathy Coble, one of the lawyers representing them, praised the "bravery of
both the diverse and ally Googlers who self-reported their pay and leaked
that data to the media".

 

"Suspected pay inequity is too easily concealed without this kind of
collective action from employees," Ms Coble added.

 

The technology giant denied that it had discriminated against any of its
employees.

 

"We reached a resolution, but continue to disagree with the allegations that
we treated anyone differently, and remain committed to paying, hiring, and
levelling all employees fairly," a Google spokesperson told the BBC.

 

Earlier this year, Google joined a growing list of US firms that are
abandoning commitments to principles of diversity, equity, and inclusion
(DEI) in their recruitment policies.

 

Meta, Amazon, Pepsi, McDonald's, Walmart and others have also rolled back
their DEI programmes.

 

It comes as US President Donald Trump and his allies have regularly attacked
DEI policies.

 

Since his return to the White House, Trump has ordered government agencies
and their contractors to eliminate such initiatives.-BBC

 

 

 

 

Splurge or save? Americans struggle as tariffs hit economy

A few days after Donald Trump won the US presidential election, Amber
Walliser stocked up, spending $2,000 (£1,538) on appliances she believed
would get more expensive as the White House started to put new taxes on
imports

 

But that was a temporary splurge. These days, her family is buckling down,
worried about job security, and a possible economic downturn, which experts
believe could be more likely because of US President Donald Trump's tariffs.

 

It means no new car, or big vacation this year. They have even shelved plans
to start trying for a second child.

 

"We are saving as much as possible, just hoarding cash, trying to bulk up
our emergency fund," the 32-year-old accountant from Ohio said.

 

 

Amber's worries are being echoed across the US, as tariffs and other changes
by the White House hit the stock market, spark turmoil for businesses, and
add to inflation concerns.

 

That is the tricky scenario that officials at the US central bank will have
to address at their interest rates meeting on Wednesday.

 

The Federal Reserve, which is supposed to keep both prices and employment
stable, typically lowers borrowing costs to help support the economy, or
raises them to slow down price rises, as it did when prices shot up in 2022.

 

Though analysts widely expect the Fed to leave interest rates unchanged on
Wednesday, they are far more divided about what to expect in the months
ahead, as tariffs could both raises prices and slow economic growth.

 

"Their job has become a lot harder," said Jay Bryson, chief economist at
Wells Fargo.

 

Bar chart showing actual and forecast US quarter-on-quarter GDP growth for
2024 and 2025. The figures were: Q1 2024 (1.6%), Q2 2024 (3%), Q3 2024
(3.1%), Q4 2024 (2.3%),Q1 2025 (0.4%), Q2 2025 (0.9%), Q3 2025 (1.8%), Q4
2025 (1.8%).

 

In a speech earlier this month, the head of the Federal Reserve, Jerome
Powell, noted that surveys of sentiment have not been good indicators of
spending decisions in recent years, when the economy has performed well
across many mainstream metrics, despite sour views.

 

He said policymakers could afford to wait to see the overall impact of the
White House policy changes before responding.

 

Dave Gold Dave Gold is wearing reflective sunglasses and a purple hat with a
mountainous area in the backgroundDave Gold

 

But households are responding to the uncertainty now.

 

After his investments were hit in the recent stock market sell-off, Dave
Gold drew up a budget and started slashing his spending.

 

He cancelled Netflix, challenged himself to avoid Amazon purchases for a
month and scaled back his travel, managing to cut his expenses in half.

 

"It's just really hard to plan and be confident about what next month looks
like," said the 37-year-old, who lives in Wyoming and works in finance.

 

"I thought it was time to reel it back in and protect myself in case things
do happen," he added.

 

Is the US really heading into a recession?

Stocks slide as Trump warns of US economy 'transition'

 

Dave is not the only American reigning in their spending. Retail sales also
fell last month, while firms from Walmart to Delta Air Lines have warned of
slackening demand.

 

Meanwhile, job growth has slowed and the stock market is now trading at its
lowest levels since September.

 

In this month's survey of consumer sentiment by the University of Michigan,
concerns about the job market surged to the highest level since the Great
Recession, while household expectations of long-term inflation also jumped,
in the biggest one-month rise since 1993.

 

Those are troubling signals for the US, in which consumer spending accounts
for roughly two thirds of the economy.

 

"It's not like the consumer is falling apart, but we're seeing some cracks,"
said Mr Bryson, who puts the odds of a recession at one in three, up from
one in five at the start of the year.

 

"If consumers retrench... the entire economy is going to go down with it,"
he said.

 

Getty Images A woman in a purple puffy coat pushes a shopping cart past eggs
in the grocery storeGetty Images

Prices for eggs have risen sharply over the last few months

 

White House officials have acknowledged the likelihood of "a little
disturbance", while promising that the short-term pain will lead to
long-term gain.

 

But polls suggest Trump's handling of the economy is a point of concern for
the public, especially for Democrats and independents, but increasingly for
Republicans as well.

 

Software engineer Jim Frazer, who did not vote for Trump, said the
administration's assurances have done little to ease his concerns, as he
sees policies change by the hour, the stock market sink, and prices for
staples such as eggs rise.

 

Around the end of last year, the 49-year-old, who lives in Nebraska,
purchased a new phone and television, betting such items would be affected
by the tariffs Trump said he planned to put on imports from China.

 

More recently however, he's trying to cut back, both as a buffer against
rising costs and because he has been spooked by the Trump administration's
talk - not just about tariffs, but other moves, like annexing Canada as the
51st state.

 

He and his wife recently hit pause on their plan to replace an old loveseat,
and have scaled back their ambitions for renovating the bathroom.

 

"I just feel like right now, we need that money squirrelled away in a safe
spot," he said.

 

"It's that feeling like we're heading towards something and we've got to get
prepared."

 

BBC

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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

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

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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.

 


 

 


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

 


 

 

 

 

 

 

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