Major International Business Headlines Brief::: 25 March 2025

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

 <http://www.bullszimbabwe.com> Bullszimbabwe.com
<mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments
<https://bullszimbabwe.com/category/blogs/bullish-thoughts/> Bullish
Thoughts        <http://www.twitter.com/BullsBears2010> Twitter
<https://www.facebook.com/BullsBearsZimbabwe> Facebook
<http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn
<https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp
<mailto:bulls at bullszimbabwe.com?subject=Unsubscribe> Unsubscribe

 


 

 


Major International Business Headlines Brief:::  25 March 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  South Africa: SAA and Pilots Agree on Revised Pay Package 

ü  Nigeria: Tinubu Flags Off Second Niger Bridge Access Roads'

ü  Uganda: Museveni, UAE Foreign Affairs Minister Discuss Strengthening Ties

ü  Uganda: Opposition Says Low Electricity Access Hampering Country's
Production, Job Creation

ü  Nigeria: U.S. to Remove Condition of Entry On Vessels From Nigerian Ports

ü  Nigeria: NNPC Hosts 300 Female Mechanics, Advocates Inclusivity in
Technical Fields

ü  Nigeria: Tussle Over 9Mobile Shares Ownership Gets Messier

ü  Namibia: Nandi-Ndaitwah's Cabinet Takes Shape With a Bold New Direction

ü  South Africa: Quick Explainer - What VAT Means for You

ü  Ethiopia: Govt Raises Fuel Prices By Up to 11 Birr Per Liter Amid
Widespread Shortages, Black Market Surge

ü  Hyundai unveils $21bn US expansion as Trump tariffs loom

ü  Chinese electric carmaker BYD sales beat Tesla

ü  Trump threatens tariffs on buyers of Venezuelan oil

ü  China frees staff of US consultancy firm after two years

ü  DNA testing site 23andMe files for bankruptcy protection

 


 <mailto:info at bulls.co.zw> 

 


South Africa: SAA and Pilots Agree on Revised Pay Package 

South African Airways (SAA) has reached a resolution with its pilots, who
have accepted a revised salary and benefits package, ending the work-to-rule
industrial action and concluding the 2024 wage negotiations, reports IOL.
Group CEO Prof. M John Lamola welcomed the agreement, saying it illustrates
the pilots' commitment to the airline's future and the benefits for both
employees and passengers. Lamola reaffirmed SAA's goal of financial
sustainability without reliance on public funding. He expressed optimism
about SAA's future as a key national asset, boosting economic growth through
improved trade, tourism, and operational excellence.

 

City Power Expands Electrification to Informal Settlements

 

City Power Johannesburg has reaffirmed the importance of electricity access
for socio-economic development, highlighting its efforts to expand
electrification in informal settlements despite resource constraints,
reports SABC News. The utility exceeded its 2023/24 target by connecting
2,675 households - surpassing the initial goal of 2,500 - in areas like
Alexandra, Roodepoort, and Kliptown. Spokesperson Isaac Mangena said that
despite resource constraints, the utility is exploring alternative energy
solutions to expand reliable power access, reinforcing its commitment to
ensuring safe and sustainable electricity for all residents, particularly in
underserved communities.

 

 

JMPD to Ramp Up Operations to Combat Drunk Driving During Easter

 

As Easter approaches, the Johannesburg Metropolitan Police Department (JMPD)
has expressed serious concern over the surge in drunk driving cases, with
188 motorists arrested for driving under the influence between March 17 and
23, reports EWN. JMPD spokesperson Xolani Fihla warned that the department
will ramp up enforcement operations to curb intoxicated driving. The JMPD
urges motorists to avoid drinking and driving to prevent accidents and save
lives.

 

 

 

 

 

Nigeria: Tinubu Flags Off Second Niger Bridge Access Roads

Asaba — PRESIDENT Bola Tinubu, yesterday, said that it was an open secret
that the existing infrastructure in Nigeria do not match the country's
growth aspirations.

 

He said that for Nigeria to become a global economic powerhouse, "We must
upgrade and modernise our infrastructure, which are imperative for the
country's economic prosperity."

 

Tinubu stated this during the flag-off of the construction of 17.5km access
road to the second Niger Bridge.

 

Tinubu who was represented by Governor Sheriff Oborevwori of Delta State,
maintained that a strong and resilient economy is built on the ability of
the government to build modern infrastructure, provide public amenities, and
expand social services.

 

 

Tinubu said: "The opening of the Second Niger Bridge to motorists in
December 2022, heralded a new dawn in road transportation between the south
east and the rest of Nigeria.

 

"This bridge is a landmark infrastructural project because of its
significance in linking Asaba-Benin and Onitsha-Enugu dual-carriageways, two
of the most significant highways in the country.

 

"The access road we are flagging off today is a direct response to the
challenges faced by road users as it is expected to improve connectivity,
enhance road safety and boost trade and commerce that the South-East is
known for.

 

"This project demonstrates this administration's unwavering commitment to
accelerating infrastructural development and economic growth."

 

He noted that good transportation networks facilitate easy mobility, creates
employment opportunities, boosts tourism, engenders free movement of goods
and services from production centres to sales outlets, and improves overall
quality of life.

 

 

"Consequently, governments all over the world invest heavily to develop
their infrastructure and create the enabling environment for economic and
industrial development.

 

"It is an open secret that the existing infrastructure in Nigeria do not
match our growth aspirations. Indeed, for Nigeria to become a global
economic powerhouse, we must upgrade and modernise our infrastructure, which
are imperative for the country's economic prosperity."

 

"It is against this backdrop that this administration is determined to
construct, reconstruct, expand, and modernise our road, rail, and water
networks as part of the renewed hope agenda.

 

"The ongoing multi-billion-naira Lagos-Calabar Coastal Road and other
critical road infrastructure projects in different parts of the country
will, undoubtedly, enhance rural-urban integration and connect transporters,
traders, entrepreneurs, and investors to vital commercial hubs and
industrial corridors.

 

"As we flag-off this project today, I want to commend the governments of
Delta and Anambra states for their cooperation and support.

 

"This kind of partnership and synergy are imperative for trust, good
governance, national cohesion, and sustainable development. Let me use this
opportunity to appeal to motorists to exercise calm and patience and
cooperate with the contractors during the construction process. h

 

Earlier, Governor Oborevwori had commended President Tinubu for his
exemplary leadership and unflagging commitment to national infrastructure
renewal.

 

He said: "Yesterday, the concessioning and rehabilitation of the Benin-Asaba
Expressway was flagged off in Benin, Edo State. Today we are witnessing the
flag-off of the Access Road to the Second Niger Bridge.

 

"The Benin-Asaba Expressway is a strategic link road connecting Edo and
Delta States and some parts of the South-West, while the Second Niger Bridge
is the major gateway to the South-East and South-South regions of the
country.

 

"These roads are critical for trade and commerce and, on behalf of the
government and good people of Delta State, I want to express our profound
gratitude to Mr President for his exemplary leadership and unflagging
commitment to national infrastructure renewal.

 

"The government and good people of Delta State celebrate Mr President, and
pray for God fs continued wisdom and guidance for him to achieve the noble
objectives of his Renewed Hope Agenda."

 

In his remarks, Minister of Works, David Umahi, commended Governor
Oborevwori for his commitment to peace, stability and progress of the state,
and for his support for the President irrespective of party differences.

 

Umahi said: "Delta state is now a huge construction site. When l went to
Warri, l saw the huge three flyovers that you are doing on our roads. I am
very very proud about the quality, the length, the aesthetics and the
progressiveness of those projects.

 

"We are very happy because it is a burden that you lifted up from our
shoulders. You are indeed, a man of the people considering the many other
federal road projects that you are intervening."

 

Read the original article on Vanguard.

 

 

 

 

Uganda: Museveni, UAE Foreign Affairs Minister Discuss Strengthening Ties

President Museveni has hosted the Minister of State for Foreign Affairs of
the United Arab

 

Emirates (UAE), Sheikh Shakhboot Nahyan Al Nahyan and his delegation at
State House Entebbe.

 

President Museveni and his guests discussed matters of mutual interest
between Uganda and the UAE as well as regional and international issues.

 

Members of the delegation included among others the Ambassador of the U.A.E.
to Uganda Abdalla Hassan Obaid Alshamsi.

 

Ugandan government officials present in the meeting included the Minister of
State for Foreign Affairs Okello Oryem, and the Attorney General Kiryowa
Kiwanuka.

 

The Permanent Secretary Ministry of Foreign Affairs Mr. Vincent Bagiire was
also in attendance.

 

Uganda and UAE enjoy warm relations.

 

Last year, Uganda signed a memorandum of understanding with Sharjah chamber
of commerce to build a second international airport near Kidepo national
park .

 

The MOU signed between the Sharjah chamber of commerce and the Ugandan
government to build the international airport in Kidepo will also include
high end and world tourist lodges in the national park .

 

UAE's foreign direct investment in Uganda is more than 400 million dollars
and on an upward trajectory.

 

Read the original article on Nile Post.

 

 

 

 

Uganda: Opposition Says Low Electricity Access Hampering Country's
Production, Job Creation

The Opposition in Parliament has sounded the alarm on the country's dismal
electricity access, with a mere 30% of the population having access to
power, and a paltry 7% in rural areas.

 

This glaring gap in energy access is crippling economic opportunities,
particularly in agriculture and small-scale industries, according to Evans
Kanyike, Shadow Minister of Energy and Mineral Development.

 

"This glaring gap in energy access significantly hampers economic
opportunities in these regions... Access to reliable power could drastically
improve productivity and create income-generating opportunities," noted
Evans Kanyike.

 

 

The Opposition is calling for increased investment in rural electrification
and a reduction in reliance on hydro energy, which is vulnerable to seasonal
fluctuations in rainfall.

 

Uganda's overreliance on hydropower, with more than 80% of the country's
electricity coming from hydroelectric plants, is a major hurdle in the
energy sector.

 

High electricity tariffs, among the highest in the region, are further
burdening households and deterring industrial growth, undermining Uganda's
competitiveness.

 

"One of the major hurdles in Uganda's energy sector is limited access to
electricity," Kanyike noted.

 

The Opposition's concerns are backed by data, which shows that Uganda's
energy sector remains underdeveloped, with limited access to electricity,
particularly in rural areas.

 

The situation is dire, and urgent action is needed to address the energy gap
and unlock economic opportunities for Ugandans.

 

Read the original article on Nile Post.

 

 

 

 

 

Nigeria: U.S. to Remove Condition of Entry On Vessels From Nigerian Ports

The United States Coast Guard has described Nigerian seaports as safe
following Nigeria's tremendous progress in implementing the International
Ships and Ports Facility Security (ISPS) Code at the nation's seaports,

 

LEADERSHIP reports that this new designation is geared towards providing
actionable insights and data-based decisions to lift the Condition of Entry
(CoE) placed on vessels departing Nigeria for the United States of America.

 

The United States Coast Guard, however, commended Nigeria and the Nigerian
Maritime Administration and Safety Agency (NIMASA) for their considerable
progress in implementing the ISPS Code.

 

 

Speaking to newsmen, Joe Prince Larson of the US Coast Guard, who led a team
from the International Port Security Programme on a working tour of some
terminals and ports in Nigeria to ascertain the level of implementation of
the ISPS Code across Nigerian port facilities, said Nigeria's compliance
with the ISPS Code ranks amongst the best globally.

 

The team had earlier conducted assessment visits to the Dangote Port and
Lekki Free Trade Zones in Lekki, Lagos State, and private port facilities
operated by Matrix and Julius Berger in Warri, Delta State.

 

While delivering an interim assessment report to NIMASA Management, Larson
added that his team would report their findings to the US Coast Guard
leadership accordingly and expressed confidence that NIMASA could maintain
the high standards attained to date.

 

"We had the pleasure of visiting Matrix and Julius Berger in Warri, Delta
State, before proceeding to the Lekki Deep Seaport and Dangote Port in
Lagos, with the overall assessment being very positive.

 

"We noted that there is a clear and deep understanding of the implementation
of the ISPS Code in Nigeria with the level of compliance observed to be at
par with some of the best maritime nations globally."

 

On his part, NIMASA DG, Dr Dayo Mobereola, spoke about the Agency's
commitment to sustaining the improved compliance levels at the nation's
ports while noting the effect this has on how Nigeria is perceived
internationally.

 

He added that the Agency would continue to support efforts under the
Minister of Marine and Blue Economy, Adegboyega Oyetola, to improve
standards in the Nigerian maritime industry.

 

He expressed happiness at the positive feedback received from the USCG
delegation, saying it serves as a reward for the federal government's
commitment to the development of the sector, and the work of the Agency,
under the supervision of the Federal Ministry of Marine and Blue Economy, to
ensure international standards are adhered to in the area of port security.

 

Read the original article on Leadership.

 

 

 

 

Nigeria: NNPC Hosts 300 Female Mechanics, Advocates Inclusivity in Technical
Fields

NNPC Retail Limited (NRL) has hosted She-Fix 2025, an event dedicated to
empowering women in automotive, technical, and energy sectors and
commemorating International Women's Day.

 

The event, which took place at The Stable Center, Surulere, Lagos, attracted
over 300 active participants as part of global celebrations marking this
year's International Women's Day (IWD).

 

A statement by the NNPC spokesman, Olufemi Soneye, said the programme had as
its theme: "Driving Diversity and Powering Progress."

 

He added that hands-on activities, engaging discussions, and technical
demonstrations served to showcase the diverse talents and contributions of
women in traditionally male-dominated industries at the event.

 

 

NNPC Retail's Managing Director, Mr. Huub Stokman, highlighted the
transformative vision behind She-Fix. "She-Fix 2025 transcends the idea of a
mere event--it represents our collective commitment to recognizing and
elevating women's voices and contributions across various industries," he
said.

 

Senior Business Adviser, Mr. Cyprian Onwuegbu, representing the Executive
Vice President, Downstream, NNPC, reiterated the company's dedication to
gender inclusivity. "NNPC is steadfast in promoting diversity, equality, and
inclusion. She-Fix symbolizes our ongoing commitment to creating an
equitable and progressive workplace for women," Onwuegbu stated.

 

Attendees actively participated in Car Care 101 sessions, live car
diagnostics, and explored a lively marketplace promoting female-led
businesses. Special discounts on Oleum Lubricants and LPG NR-GAS further
supported NNPC Retail's commitment to empowering women in the energy sector.

 

Read the original article on This Day.

 

 

 

Nigeria: Tussle Over 9Mobile Shares Ownership Gets Messier

The ongoing dispute over the ownership and control of Emerging Markets
Telecommunication Service (EMTS), which is the holder and operator of
9Mobile Telecommunication licence, got messier last Tuesday when the Federal
High Court sitting in Abuja resumed hearing the suit.

 

Keystone Bank brought a Motion seeking to be to be joined as a party to the
suit, a proposed statement of defence and counter-claim which discloses
triable and fecund issues, and also demonstrates the Applicant's interest in
the subject-matter of this suit.

 

The Plaintiff, Abubakar Isa Funtua had dragged General Theophilus Yakubu
Danjuma (Rtd) and his company LH Telecommunication Limited, as well as the
other Defendants to court over the ownership and control of Emerging Markets
Telecommunications Limited trading under the name of 9Mobile.

 

 

The other Defendants are: Seltrix Limited (sued as the 1st Defendant); The
Corporate Affairs Commission; Nigerian Communications Commission (NCC);
Hayatu Hassan Hadeija; Teleology Nigerian Limited and one Mohammed Edewor, a
Director in Teleology Nigeria Limited.

 

At the resumed hearing of the case on Tuesday, parties were confronted with
a Motion by Keystone Bank seeking to be joined as a party to the suit with a
Statement of Defence, counter-claim and allegation of fraud against some
parties in the suit No. /ABJ/CS/1971/2024.

 

The Motion states among other things that: "The Applicant - Keystone Bank,
also intends to present a counter-claim and has prepared a proposed
statement of defence and counter- claim which discloses triable and fecund
issues and also demonstrates applicant's interest in the subject of this
suit. The case of the Applicant, is that the resolution passed by the 3rd
defendant on 9th May, 2023 approving the change of control/ownership of the
5th Defendant from the 3rd Defendant to the 8th Defendant, in violation of
the Facilities Agreements (Deed of Share Charge) between the Applicant and
3rd Defendant, and the orders of the court made on 20th February, 2023 in
Suit No. FHC/L/CS/297/2023 is illegal, null and void.

 

 

"The Applicant also asserts in the proposed statement of defence and
counter-claim that the resolution of the 5th Defendant passed on 7th
December, 2023, increasing the share capital of the 6th Defendant to
counterclaim from N90,000,000 to N2,000,000,000 and reducing the 3rd
Defendant's percentage stake/interest/shareholding in the 6th Defendant to
counterclaim to approximately 4.5% is null and void.

 

"The Applicant intends to seek the following reliefs, endorsed on the
proposed statement of defence and counter-claim, at the hearing of the case:
"A Declaration that the 1st Defendant to counterclaim is not a shareholder,
either directly or indirectly, of the 6th Defendant to counterclaim.

 

"A Declaration that the consent/approval granted on 26th May, 2023 by the
3rd Defendant/4th Defendant to counterclaim (under the hand of the 4th
Defendant/5th Defendant to counterclaim) in respect of the investment of the
8th Defendant in the 5th Defendant, leading to a reduction of the 99.99%
shareholding of the 3rd Defendant in the 5th Defendant to less than 4.5% is
illegal, unlawful, null and void among other reliefs."

 

The Bank also seeks for an "An Order Of Perpetual Injunction, restraining
the Defendant to counterclaim from altering or taking any step to alter or
give effect to the alteration or continuing to give effect to the alteration
of the 99.9% beneficial ownership of Teleology Nigeria Limited in Emerging
Markets Telecommunication Service Limited (EMTS) among other reliefs.

 

The matter was adjourned to 27/3/2025, for the hearing of all Preliminary
Objections.

 

Read the original article on This Day.

 

 

 

 

Namibia: Nandi-Ndaitwah's Cabinet Takes Shape With a Bold New Direction

In Tanzania, Netumbo Nandi-Ndaitwah is known as 'Mama Swapo', a title
bestowed upon her by the late president Julius Nyerere, who instilled in her
the belief that corruption is treason. It is a principle she says she still
holds dear.

 

On Friday, Nandi-Ndaitwah was sworn in as Namibia's first woman president,
making history in her own right.

 

The following day, she revealed a new-look Cabinet of 14 ministers, a
reduction from 21 in the previous administration. This includes eight women
and six men, totalling 53.3% women and 40% men.

 

The previous administration had 12 men and nine women in Cabinet and had 20
deputy ministers, of which 17 were women and three men.

 

Only three ministers survived in the current administration.

 

The president's team is tasked with creating 550 000 jobs by 2029 and
delivering on the promises she made to the public during her political
campaign.

 

 

The implementation plan now promises to create 250 000 jobs instead.

 

Speaking on Saturday during her swearing-in ceremony, Nandi-Ndaitwah said
Namibian citizens voted for Swapo, because they have confidence in the
promises the party made in its election manifesto, which is based on clear
principles.

 

"Namely unity in diversity, natural resources beneficiation, and youth
empowerment for sustainable development," she said.

 

To realise these goals, Nandi-Ndaitwah said they have developed an
implementation plan as blueprint for the new government.

 

She said she merged some ministries and transferred others to "maximise
outcomes".

 

A new public entity will manage government properties and assets nationwide,
she said, and the oil and gas industries will be overseen by the Office of
the President to maximise national benefits.

 

THE TEAM

 

 

Nandi-Ndaitwah has appointed Lucia Witbooi, the former deputy minister of
home affairs, immigration, safety, and security, as vice president.

 

According to sources, the president initially considered leaving the
position vacant, but may have felt compelled to make an appointment.

 

In the end, she opted for Witbooi - a decision insiders describe as
strategic and cautious.

 

Witbooi, a member of parliament since 2010, has never held a full
ministerial post. Party insiders suggest she is a politically 'safe' choice,
given her perceived lack of presidential ambition.

 

The party is reportedly looking at 2027 to elect a vice president who could
succeed Nandi-Ndaitwah.

 

"I see this as a big responsibility. I will fulfil it to the best of my
ability," Witbooi said yesterday.

 

Nandi-Ndaitwah appointed Elijah Ngurare as prime minister, marking a
significant rise from his previous role as deputy executive director of
agriculture, water and land reform.

 

Ngurare, who once served as Swapo Party Youth League (SPYL) secretary
general, now takes on one of the country's most influential positions.

 

His appointment is widely seen as an effort to consolidate support in the
Kavango regions, a key voting bloc where Swapo has maintained a strong
electoral presence.

 

In recent years, Nandi-Ndaitwah and Ngurare have reconciled, a significant
shift from a decade ago when they were estranged.

 

In 2015, Nandi-Ndaitwah, then deputy prime minister, reportedly tabled a
motion within Swapo to expel Ngurare from the party.

 

"My work is to assist her excellency in the mandate given by the Namibian
people," Ngurare said over the weekend.

 

Once labelled a Swapo rebel, he saw himself as an advocate for Swapo's youth
agenda, including empowerment, informal settlements, and rural development.

 

"We must ensure all 121 constituencies feel the impact of the marching
order. Villages, rural areas, and local authorities must get services. To
achieve this, we must unite," he said.

 

Former deputy finance minister Natangwe Ithete emerged as one of the biggest
winners after being appointed as deputy prime minister and the minister of
industry, mines and energy.

 

Ithete has over the years made public comments about mining and oil, saying
the government should own a bigger stake in oil discoveries.

 

In 2019, former finance minister Calle Schlettwein criticised his deputy,
Ithete, for travelling to China without ministerial approval.

 

That same year, Ithete and opposition Namibian Economic Freedom Fighters
parliamentarian Kalimbo Iipumbu had to be separated after they got involved
in a physical confrontation.

 

THE PURSE

 

Former finance executive director Erica Shafudah returns to homeground as
finance and social grants minister, She resigned in 2021 to join the United
Nations World Food Programme. Now 62, she returns to the ministry she served
for 22 years.

 

Sources say Shafudah is open to funding projects like reviving Air Namibia,
a stance her predecessor, Iipumbu Shiimi, allegedly opposed.

 

"I feel honoured to continue serving the public. My priorities will align
with the president's directives," she said over the weekend.

 

Shafudah left public service under a final warning over her role in the
controversial N$5.5-billion fuel storage tender.

 

"Whoever is resurfacing such information after my appointment, don't mind
them. Just wish them well," she said.

 

Former deputy minister of works Veikko Nekundi was appointed as works and
transport minister.

 

Nekundi was one of the SPYL leaders who led the purge against Ngurare 10
years ago.

 

Nekundi was recently caught on video pushing and shoving an Electoral
Commission of Namibia (ECN) commissioner during an observation trip in South
Africa.

 

Former high commissioner to Ghana, Selma Ashipala-Musavyi, is the minister
of international relations and trade. She used to be Nandi-Ndaitwah's
right-hand woman as the executive director of international relations and
cooperation.

 

Ashipala-Musavyi was implicated in an Anti-Corruption Commission
investigation around widespread favouritism and cronyism in the Ministry of
International Relations and Cooperation.

 

Among those who served in the last administration only three were retained
as ministers. This includes minister of information and communication
technology Emma Theofelus.

 

Frans Kapofi was retained as minister of defence and veterans affairs, while
Lucia Iipumbu was moved to the Ministry of Home Affairs, Immigration, Safety
and Security.

 

Festus Mbandeka was retained as attorney general.

 

Medical doctor Esperance Luvindao was appointed as minister of health and
social services, which has attracted public debate.

 

Former health minister Bernard Haufiku in an audio recording over the
weekend said he was not approached for the position.

 

"The audio is a response to viral clips saying I have rejected an offer from
the new administration, which is not true. I was never approached, and there
is no bad blood between the new administration and myself," he told The
Namibian yesterday.

 

Wise Immanuel, who presided over Swapo elections last year, was appointed as
minister of justice and labour relations.

 

Sanet Steenkamp was elevated from executive director to minister of
education, innovation, youth, sport, arts and culture. Dino Ballotti is her
deputy.

 

Emma Kantema moved from being deputy minister of sport to become the new
minister of gender equality and child welfare.

 

James Sankwasa takes charge as minister of urban and and rural development,
with the task of building 50 000 houses by 2029.

 

Mac Hengari has been appointed as minister of agriculture, fisheries, water
and land reform.

 

Indileni Daniel is the new minister of environment and tourism.

 

Nandi-Ndaitwah's former Swapo campaign manager, Kaire Mbuende, has been
given the position of director general at the National Planning Commission.

 

"You must assist me to give this team a chance to do their work. What's
important is not who is there for me and should not be who is there for you.
For you ... wait for the service to be delivered," Nandi-Ndaitwah said.

 

Read the original article on Namibian.

 

 

 

South Africa: Quick Explainer - What VAT Means for You

If Parliament passes the 2025/6 budget, the VAT rate will go from 15% to
15.5% on 1 May this year. This means that the price of all but a few goods
and services will go up, and buyers will pay 15.5c on every rand in tax
instead of 15c. Then, from 1 April 2026, VAT is set to go up again, to 16%.

 

What is VAT?

 

VAT is an indirect tax levied on the sale of goods and services. Consumers
don't pay the tax directly to SARS, like income tax, but pay it indirectly
when paying for goods and services. The seller charges VAT and then passes
it on to SARS. The seller (the VAT "vendor" gets refunded for the VAT
previously paid on supplies purchased, and so this is a tax on the "value
added" in the production or retail chain.

 

Many countries have VAT systems. Rates vary widely, with VAT at 7% in
Thailand, 14% in Egypt, 15% in Ethiopia, 18% in Uganda, 19% in Algeria, 20%
in the United Kingdom and as high as 27% in Hungary.

 

 

In South Africa this year, VAT is expected to bring in nearly R500-billion
out of total tax revenue of R2,006-billion. Of this, the increase in the VAT
rate is expected to bring in R13.5-billion in the 2025/6 year and
R29.8-billion in 2026/7.

 

Who will be affected by the increase?

 

Everyone will be affected by the higher VAT rate. But poor people will be
harder hit than rich people. This is because everyone pays the same VAT rate
on their consumption expenditure, regardless of income (unlike income tax),
so it is a bigger burden on small incomes than an income tax. High income
households typically spend a lower percentage of their income than poor
households, so the VAT increase has a smaller effect.

 

Cushioning the effect

 

Announcing the increase in his budget speech last week, finance minister
Enoch Godongwana said three things would be done to cushion the effect of
the VAT increase on the poor:

 

 

social grants would be increased;

the fuel levy (charged on petrol and diesel) would stay the same (rises in
the fuel levy affect taxi users as well as those who own cars); and

the list of goods on which VAT is not paid (zero-rated goods) would be
lengthened.

Zero-rated goods

 

At the moment, 21 food items are "zero-rated" for VAT, which means no VAT is
paid on them. Brown bread, maize meal, mealie rice, samp, dried maize, dried
beans, lentils, tinned sardines, milk powder, and dairy powder blends have
been zero-rated since 1991, when VAT was first introduced.

 

Nine more items - rice, vegetables, fruit, vegetable oil, milk, cultured
milk, brown wheat flour, eggs - were added to the zero-rated list in 1993,
when the VAT rate was increased from 10% to 14%.

 

Then, in April 2018, when the VAT rate went up from 14% to 15%, an
independent panel of experts was appointed to consider zero-rating on more
items. They recommended the list be lengthened to include white bread, white
flour, cake flour, sanitary pads, school uniforms and nappies.

 

The government accepted some of these recommendations but not all, and white
bread, wheat flour, cake wheat flour and sanitary pads have been zero-rated
from 1 April 2019.

 

If the budget is passed, more items will be added to the list of zero-rated
foods: canned vegetables, dairy liquid blends, and organ meats, such as
liver and kidneys from sheep, poultry and other animals.

 

If these foods had not been zero-rated, SARS would have collected an
additional R2-billion this year and R2.1-billion next year.

 

Why is this happening?

 

Godongwana said in his speech that the government had to increase VAT in
order to finance necessary spending on health, education, transport and
security.

 

Critics of the VAT increase have said he could have financed this in other
ways, for instance by taxing the rich more heavily, by borrowing more, or by
"taking a holiday" from the government's contribution to the Government
Employees Pension Fund, which has a surplus.

 

Godongwana said before increasing VAT the government had considered other
options, such as increasing company tax or personal income tax, or taking on
more government debt, but had come to the conclusion that this was not a
good idea.

 

He did not comment in his budget speech on the other proposals.

 

SARS has also said it is capable of collecting much more tax if its capacity
is increased. The budget does give an extra R4-billion to SARS over the next
three years to do this.

 

This is part of an occasional series explaining issues in economics.
GroundUp is grateful to Andrew Donaldson of the Southern Africa Labour and
Development Research Unit for advice on the series.

 

Read the original article on GroundUp.

 

 

 

 

 

Ethiopia: Govt Raises Fuel Prices By Up to 11 Birr Per Liter Amid Widespread
Shortages, Black Market Surge

Addis Abeba — The government has increased the retail price of gasoil to
112.67 birr, representing an 11% rise.

 

Effective in Addis Abeba starting from 23 March, 2025, the price of a liter
of diesel and kerosene has also increased to 107.93 birr, reflecting a nine
percent rise.

 

According to the Ministry of Trade and Regional Integration, this adjustment
is part of the regular quarterly fuel price revisions. However, the latest
increase occurred in less than three months since the previous adjustment.

 

On 07 January, 2025, Addis Standard reported that the price of a liter of
gasoil had surpassed the 100-birr mark, reaching 101.47 birr, an increase of
11.5%.

 

The latest price hike comes just days after Prime Minister Abiy Ahmed told
parliament that the government is allocating substantial funds to subsidize
fuel prices and mitigate the rising cost of living.

 

 

He stated that while the global market price of fuel stands at 129 birr per
liter, the government covers 28 birr per liter in subsidies, allowing
domestic sales at 101 birr per liter.

 

The prime minister also revealed that the government had previously spent 72
billion birr on fuel subsidies. "Despite this, the government continues to
provide significant subsidies on various essential products to reduce the
financial burden on low-income citizens," he said.

 

Alongside the sharp rise in fuel prices, the country is also experiencing a
severe fuel shortage. Addis Standard has been covering the fuel crisis
across various regions, most recently in the Afar region, where Bajaj
drivers have been unable to purchase gasoline from official stations for
nearly a year. As a result, they have been forced to rely on the black
market, where prices have surged to 300 birr per liter.

 

Drivers in Adama City, in the Oromia region, are also facing an escalating
fuel shortage, which they attribute to the widespread proliferation of
black-market fuel sales.

 

Similarly, in November 2024, Addis Standard reported that drivers in the
Amhara region were struggling with a severe gasoil shortage, prompting the
regional government to implement a weekly quota system. Residents in cities
such as Bahir Dar, Gondar, and Debre Birhan described the situation as dire,
with black-market fuel prices soaring to 225 birr per liter.

 

The crisis extends to Hawassa, the capital of Sidama Regional State, where
drivers report an acute fuel shortage, also linked to black-market sales.

 

Read the original article on Addis Standard.

 

 

 

 

Hyundai unveils $21bn US expansion as Trump tariffs loom

South Korean carmaking giant Hyundai has unveiled $21bn (£16.3bn) of
investment in the US just days before President Donald Trump is set to
impose new tariffs on trading partners.

 

The plan includes a new $5.8bn steel plant in the southern state of
Louisiana.

 

Hyundai also said it will expand its American vehicle production and invest
billions of dollars in new technology including autonomous driving and
artificial intelligence (AI).

 

"This investment is a clear demonstration that tariffs very strongly work,"
Trump said during the event at the White House on Monday.

 

 

He added that more tariffs on vehicle imports are likely to be announced
this week.

 

Hyundai said the new steelmaking facility will produce more than 2.7 million
metric tons of steel a year and create more than 1,400 jobs.

 

It is expected to make steel for Hyundai's plants in Alabama and Georgia.

 

The announcement also included plans to invest $9bn to boost the firm's
production in the US to 1.2 million vehicles a year by 2028.

 

Hyundai also said it had earmarked $6bn to expand partnerships with US firms
to develop technologies including self-driving vehicles, robotics and AI.

 

On Wednesday, Hyundai Motor is set to hold an opening ceremony for a new
$7.59bn car and battery factory in Georgia.

 

It already has a manufacturing facility in Alabama and its affiliate Kia has
a factory in Georgia.

 

When fully operational, the three plants will have capacity to make a
million vehicles a year, the company said.

 

Hyundai also said it would buy $3bn worth of liquefied natural gas (LNG)
from the US.

 

Since Trump's return to power several companies have announced plans to make
major investments in the US.

 

But some of the announcements have been reiterations of previously
publicised plans.

 

During the Biden administration, Hyundai said it would invest about $10bn in
new technology by 2025.

 

The latest announcement came a little over a week before 2 April, when Trump
has said he will impose reciprocal tariffs on countries around the world.

 

The new round of import taxes could potentially target Hyundai's home
country South Korea, which has a large trade surplus with the US.

 

Last month, Trump ordered a 25% import tax on all steel and aluminium
entering the US.

 

He also extended the levies to include hundreds of metal products from nuts
and bolts to drinks cans.

 

In recent weeks, US carmakers, including General Motors and Ford, have been
calling on the US president to exempt imports of cars and vehicle parts from
new tariffs.--BBC

 

 

 

 

 

Chinese electric carmaker BYD sales beat Tesla

Impact Arena convention venue in Bangkok. A man in a mid-blue jacket, white
shirt and blue-striped tie is looking into the left hand back door. There
are other cars and people in the background.Getty Images

Chinese electric vehicle maker BYD has reported annual revenue for 2024 that
has leapfrogged rival Tesla.

 

The Shenzhen-based firm says revenue rose by 29% to come in at 777 billion
yuan ($107bn; £83bn), boosted by sales of its hybrid vehicles. This topped
the $97.7bn reported by Elon Musk's Tesla.

 

BYD has also just launched a lower-priced car to rival Tesla's Model 3,
which has long been the top selling electric vehicle (EV) in China.

 

It comes as Tesla faces a backlash around the world over Musk's ties to US
President Donald Trump, while Chinese carmakers have been hit with tariffs
in Western countries.

 

 

BYD sold around the same number of EVs as Tesla last year – 1.76 million
compared to 1.79 million, respectively.

 

But when sales of the Chinese company's hybrid cars are taken into account
it is much bigger, selling a record 4.3 million vehicles globally in 2024.

 

On Sunday, BYD announced a new model to take on Tesla.

 

Its Qin L model has a starting price in China of 119,800 yuan, while a basic
version of Tesla's Model 3 is priced at 235,500 yuan.

 

It comes as Chinese consumers are cutting spending in the face of economic
challenges, including a property crisis, slowing growth, and high local
government debt.

 

Last week, BYD's founder Wang Chuanfu announced new battery charging
technology, which he said could charge an EV in five minutes.

 

That compares with around 15 minutes to charge a Tesla using its
supercharger system.

 

In February, BYD announced that its so-called "God's Eye" advanced
driver-assistance technology would be available free in all its models.

 

Tesla's challenges run deeper than 'toxic' controversy around Elon Musk

Tesla vandals face up to 20 years in prison, says attorney general

Tesla makes largest ever Cybertruck recall

Shares in the firm, which is backed by veteran US investor Warren Buffett,
have jumped by more than 50% so far this year.

 

A backlash against Musk and his carmaker has gathered momentum since he was
appointed head of the Trump administration's Department for Government
Efficiency (DOGE), which has been tasked with slashing federal government
spending.

 

Musk has also intervened in politics abroad, including giving his backing to
far-right party Alternative für Deutschland ahead of Germany's parliamentary
election and criticising UK politicians such as Prime Minister Keir Starmer.

 

Meanwhile, China's EV manufacturers have been targeted with tariffs in large
parts of the world, including the US and the European Union.-BBC

 

 

 

 

 

Trump threatens tariffs on buyers of Venezuelan oil

Donald Trump has threatened to impose tariffs of 25% on US imports from
countries that purchase oil from Venezuela.

 

Trump described the move as a "secondary tariff" aimed at punishing the
Latin American country "for numerous reasons", including allegedly
"purposefully" sending gang members to the US.

 

Separately, Trump suggested he was softening his plans for tariffs on
imports from other countries, saying he "may give a lot of countries
breaks".

 

Markets ended the day higher after the comments, which appeared to confirm
reports that he was narrowing the taxes he plans to announce on 2 April.

 

 

Trump has previously said he was looking to impose "reciprocal" tariffs on
countries around the world, outlining plans for a system whereby "they
charge us, we charge them".

 

But on Monday he suggested the White House might be "nicer than that" when
it came to the new tariff rates.

 

"We may take less than what they're charging because they've charged us so
much, I don't think they could take it," he said, while also acknowledging
that some countries might be spared from the measures.

 

Leading share indexes in the US, which have fallen steeply in recent weeks
following Trump's tariff threats, all rose on Monday.

 

The S&P 500 closed 1.7% higher, the Dow Jones Industrial Average closed up
1.2% while the Nasdaq finished 2.2% ahead.

 

Trump cancels oil deal in major blow to Venezuela

US deportations to Venezuela resume after dispute

 

Tariffs are a tax on imports. They are paid by the company that is buying
the goods as opposed to the overseas business that is selling the product.

 

Since taking office in January, Trump has repeatedly used tariffs - or the
threat of them - in an attempt to gain leverage in a range of disputes, only
some of which are related to trade.

 

He said on Monday he still planned to impose tariffs on specific products,
including cars, lumber and computer chips, claiming the possibility of such
measures were already helping to spur investment in the US.

 

His latest threat against Venezuela is expected to raise pressure on current
buyers of oil - which include China, India and Spain - to reduce their
dealings in the country, which have provided a critical financial lifeline
to the Venezuelan government.

 

Trump has already raised tariffs on Chinese imports to at least 20% since
February. He told reporters he intended the latest announcement to be added
on top of existing levies.

 

For Venezuela, China is a major buyer of its oil. But Venezuela is not a big
source of crude for China, which imported more than 11 million barrels per
day last year.

 

The US is a major buyer of Venezuelan oil, as a result of exemptions from
economic sanctions granted to US oil firm Chevron.

 

The Trump administration has previously signalled its intention to end those
exemptions.

 

On Monday, the administration updated its order, giving Chevron until 27 May
to wind down its operations in Venezuela, extending the deadline by two
months.

 

Chevron declined to comment.

 

Oil prices rose more than 1% after the announcement.-BBC

 

 

 

 

China frees staff of US consultancy firm after two years

China has released five staff members of US due diligence firm Mintz Group,
two years after they were detained as part of a crackdown on consulting
firms working with foreign businesses.

 

Their detention in March 2023 came at a time of heightened suspicion of
foreign espionage in China and kicked off a wave of raids on consultancy
firms such as Bain & Company and Capvision Partners.

 

"We are grateful to the Chinese authorities that our former colleagues can
now be home with their families," Mintz Group said in a statement.

 

Their release comes at the conclusion of a business forum in Beijing
attended by dozens of top foreign executives, including Apple's Tim Cook and
Pfizer's Albert Bourla.

 

 

China has been trying to revive foreign investment in its sluggish economy.
Government data released in February showed that foreign direct investments
plunged 99% in the last three years.

 

At the forum on Sunday, Vice Premier He Lifeng reassured business leaders of
the country's "unswerving" commitment in "welcoming multinational
corporations and sharing development opportunities [with them]".

 

Mintz Group noted that all five employees who were released are Chinese
nationals.

 

They were detained by China's public security bureau after a raid of the
company's Beijing office in March 2023.

 

Mintz Group said at that time that it did not receive any official legal
notice about the raid.

 

Chinese authorities have not commented on the detentions and the subsequent
release.

 

Later in 2023, Mintz Group was fined $1.5 million for doing "unapproved
statistical work". By the time, the company had closed all its offices in
mainland China and Hong Kong.

 

Reuters news agency had reported on the company's involvement in examining
the possible use of forced labour in supply chains linked to China's
Xinjiang region.-BBC

 

 

 

DNA testing site 23andMe files for bankruptcy protection

Popular DNA testing firm 23andMe has filed for bankruptcy protection, and
announced that its co-founder and CEO, Anne Wojcicki, has resigned with
immediate effect.

 

The company will now attempt to sell itself under the supervision of a
court.

 

23andMe said in a press release that it plans to continue operating
throughout the sale process and that there "are no changes to the way the
company stores, manages, or protects customer data."

 

The Information Commissioner's Office (ICO), the UK's data protection
watchdog, said on Monday it had notified the company of its intent to hand
down a £4.59m fine over a 2023 data breach.

 

 

The ICO, which launched a joint investigation with Canada's data watchdog
into the genetic testing company last June, said the findings were
provisional.

 

And deputy commissioner Stephen Bonner said the regulator was aware of the
company's bankruptcy filing in the US and "monitoring the situation
closely".

 

"As a matter of UK law, the protections and restrictions of the UK GDPR
continue to apply and 23andMe remains under an obligation to protect the
personal information of its customers," he said.

 

The Attorney General in 23andMe's home state of California issued a consumer
alert on Friday advising customers to delete their data from the site given
the company's "reported financial distress."

 

23andMe's saliva-based test kits were once celebrated among customers and
investors, who helped to push the company's value as high as $6bn (£4.6bn).

 

But it has been struggling for survival.

 

Founded in 2006, the company went public in 2021 but has never turned a
profit.

 

In September, the firm settled a lawsuit alleging that it failed to protect
the privacy of nearly seven million customers whose personal information was
exposed in a 2023 data breach.

 

In some cases, hackers gained access to family trees, birth years and
geographic locations, by using customers' old passwords. The data stolen did
not include DNA records, according to the company.

 

Two months after the settlement, it cut 200 employees, amounting to 40% of
its workforce.

 

23andMe said its finance chief, Joe Selsavage, will take over as interim
chief executive.

 

Ms Wojcicki will continue to serve as a member of the board.

 

She had tried to take the company private but was not open to a third-party
takeover.

 

23andMe - which once had high-profile endorsements from the likes of Oprah
Winfrey, Eva Longoria, and Snoop Dogg - struggled to redefine its business
model.

 

Customers did not have much to return for once they had paid for a DNA
report, and an effort to launch a subscription service proved unsuccessful.

 

Efforts to use its massive trove of data to move into drug development also
faltered.

 

All of the company's directors, except for Ms Wojcicki resigned last summer,
saying in a letter they were quitting after not receiving a satisfactory
buyout offer from her.

 

Questions around DNA

In its statement on Sunday, 23AndMe's board chair Mark Jensen said the
company is "committed to continuing to safeguard customer data and being
transparent about the management of user data going forward".

 

He said it would be "an important consideration in any potential
transaction".

 

But this may not ease concerns of some users about what happens to the DNA
they shared with the company.

 

In the UK, it is considered special category data under data protection
laws.

 

This provides legal protections if a firm goes bust or changes hands.

 

When a DNA testing company called Atlas Biomed appeared to have ceased
trading last year, some customers were left with more questions than answers
about what it meant for them.

 

Prof Carissa Veliz - author of Privacy is Power - previously told the BBC it
is arguably the most valuable personal data you have.

 

"If you gave your data to 23andMe, you also gave the genetic data of your
parents, your siblings, your children, and even distant kin who did not
consent to that," she said.-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

Website:             <http://www.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:                  <http://www.bullszimbabwe.com/blog>
www.bullszimbabwe.com/blog

Twitter (X):        @bullsbears2010

LinkedIn:           Bulls n Bears Zimbabwe

Facebook:           <http://www.facebook.com/BullsBearsZimbabwe>
www.facebook.com/BullsBearsZimbabwe



 

 

 


 

INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


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

 


 

 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250325/b9b36ef9/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250325/b9b36ef9/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 29356 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250325/b9b36ef9/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 29321 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250325/b9b36ef9/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250325/b9b36ef9/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 29361 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250325/b9b36ef9/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65563 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20250325/b9b36ef9/attachment-0001.obj>