Major International Business Headlines Brief ::: 15 May 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  15 May 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Ethiopia's Steadfast SDGs Pursuit Draws Int'l Acclaim - WFP

ü  Ethiopia's Boosted Efficiency in Completing Mega Projects

ü  South Africa: More Than R4-Billion Has Flowed to Dodgy Water Contracts,
Siu Probe Finds

ü  South Africa: Mining Companies Are Breaking Their Promises - and the
State Is Doing Nothing About It

ü  South Africa: Minister of Finance to Deliver 2025 Budget Speech in
Parliament

ü  Nigeria: Senator Wants Informal Settlements Around Abuja Airport
Demolished

ü  Kenya: Massive Budget Cuts Throw Health Sector Into Disarray, Threaten
HIV Programmes, SHIF Rollout

ü  Mali: Govt Takes TV5 Monde Off Air

ü  South Africa: 100 Unpolished Diamonds Recovered in Operation Vala Umgodi

ü  Kenya: Mombasa Becomes First African County to Get Public Buildings
Certification

ü  Nigerian Govt Approves Revitalisation of Ikere Gorge Hydropower Plant

ü  Nigeria: Brazil's Petrobras Mulls Return to Nigeria's Oil Sector, Targets
Deep-Water Acreage

ü  Jaguar says it has no plans to build cars in the US

ü  Relief on China's factory floors as US tariffs put on hold

ü  Why India could not stop IMF bailout to Pakistan

ü  Trump touts 'record' Boeing-Qatar Airways deal

 


 <mailto:info at bulls.co.zw> 

 


 

Ethiopia's Steadfast SDGs Pursuit Draws Int'l Acclaim - WFP

ADDIS ABABA -- Ethiopia's unwavering commitment to the United Nations
Sustainable Development Goals (SDGs), particularly in the fight against
poverty and hunger, has earned high praise from the international community.

 

World Food Programme (WFP) Ethiopia Country Director Zlatan Milisic lauded
the country's significant progress toward the 2030 Agenda in an exclusive
interview with The Ethiopian Herald.

 

Zlatan commended Ethiopia's proactive approach in conducting the Voluntary
National Review (VNR), which enables the nation to assess its performance
across multiple SDG targets with technical backing from various UN agencies.

 

"It is very encouraging to see Ethiopia taking stock of its achievements,
demonstrating strong dedication to sustainable development," he said.

 

While Zero Hunger (SDG 2) remains central to WFP's mission, Zlatan stressed
that efforts to reduce poverty are equally vital. "By supporting smallholder
farmers to increase productivity and income, promoting financial inclusion,
and enhancing service delivery systems, we directly contribute to Ethiopia's
poverty alleviation goals," he noted.

 

Zlatan highlighted WFP's integrated approach, which includes
capacity-building initiatives at both governmental and community levels.
Through collaboration with partners such as the Food and Agriculture
Organization (FAO), WFP is equipping rural communities with agricultural
expertise, drought-resilient infrastructure, and improved access to water
and irrigation.

 

"We are particularly proud of our engineering teams who build
climate-resilient agricultural infrastructure, improve water access, and
help strengthen food security," he added.

 

Reaffirming WFP's enduring partnership, Zlatan expressed optimism about
Ethiopia's continued progress, applauding the strides already made and
voicing confidence in even greater achievements ahead.

 

Ethiopian Herald.

 

 

Ethiopia's Boosted Efficiency in Completing Mega Projects

Ethiopia's ambitious infrastructure and development agenda, particularly
since Prime Minister Abiy Ahmed assumed office in 2018, has been
characterized by an assertive push to execute large-scale projects that aim
to transform the nation's economic landscape. Central to this vision is the
Grand Ethiopian Renaissance Dam (GERD), a symbol of national pride and a
cornerstone of the country's energy strategy.

 

Complementing GERD are other significant initiatives such as the Halala Kela
and Wenchi projects, which indiacte the government's commitment to regional
development and environmental sustainability. These endeavors underscore
Ethiopia's growing capacity to manage and execute mega projects, even amid
challenges.

 

The GERD stands as Africa's largest hydroelectric power plant. With an
installed capacity of 5.15 gigawatts, it is poised to double Ethiopia's
electricity generation capacity upon completion. The dam's construction,
initiated in 2011, faced numerous challenges, including political tensions
with downstream countries like Egypt and Sudan. However, under Prime
Minister Abiy's leadership, Ethiopia has steadfastly pursued the project's
completion, emphasizing its significance for national development and
regional energy security.

 

Prime Minister Abiy Ahmed has been a vocal proponent of Ethiopia's
infrastructure ambitions. He in statement once said of the dam that his
government would expedite stalled mega projects that were draining national
resources and implementing new ones in short time frames has been the
hallmark of this administration's vision for prosperity,"

 

This approach indicates a strategic shift towards enhancing Ethiopia's
project execution capacity, focusing on efficient management and timely
delivery.

 

The Halala Kela project, situated in the Oromia Region, is another testament
to the country's expanding infrastructure capabilities. This initiative aims
to develop the Halala Kela area into a significant tourist and ecological
hub, promoting sustainable development and regional economic growth. The
project's scope includes the construction of eco-friendly facilities,
enhancement of local infrastructure, and the promotion of community-based
tourism.

 

By integrating environmental conservation with economic development, Halala
Kela exemplifies Ethiopia's holistic approach to mega project execution. The
Wenchi project, launched in August 2020, focuses on the development of the
Wenchi Crater Lake area in the Oromia Region. With an investment of 4.2
billion birr, the project encompasses the construction of tourism
infrastructure, environmental conservation efforts, and community
development programs. The Wenchi project is part of the broader "Dine for
Ethiopia" initiative, which aims to promote sustainable tourism and regional
development. The involvement of international partners, such as the China
Communications Construction Company, underscores Ethiopia's growing capacity
to collaborate on large-scale projects.

 

The country has strengthened institutional frameworks to oversee mega
projects effectively. The Addis Ababa City Corridor Project, initiated in
December 2022, aims to upgrade key urban routes, incorporating bicycle
lanes, pedestrian walkways, and green spaces. Managed by the Addis Ababa
City Roads Authority, this project reflects improved governance structure

 

These projects are not isolated efforts but are part of a broader strategy
to enhance Ethiopia's infrastructure and development landscape. The
government's focus on renewable energy, transportation networks, and urban
development reflects a comprehensive approach to national development.
Investments in road networks, railways, and renewable energy are
transforming Ethiopia's infrastructure, improving connectivity, and
fostering economic growth. President Taye Atske Selassie in one of his
speech highlighted these achievements, noting that Ethiopia has built nearly
27,000 kilometers of concrete asphalt roads in recent years, enhancing
connectivity within the country and with regional neighbors .

 

The execution of these mega projects has been facilitated by several
factors. First, there has been a concerted effort to streamline project
management processes, ensuring that projects are completed on time and
within budget. Second, the government has actively sought international
partnerships and investments, leveraging foreign expertise and capital to
support development initiatives. Third, there has been a focus on capacity
building within local institutions, equipping them with the skills and
resources needed to manage large-scale projects effectively.

 

Despite these advancements, challenges remain. The execution of mega
projects often involves complex logistical, financial, and environmental
considerations. Coordinating multiple stakeholders, managing resources
efficiently, and mitigating potential environmental impacts require
meticulous planning and oversight. Moreover, ensuring that the benefits of
these projects are equitably distributed among local communities is
essential for sustainable development.

 

The progress in executing mega projects since 2018 reflects a significant
enhancement in its development capacity. Initiatives like the GERD, Halala
Kela, and Wenchi projects demonstrate the country's commitment to
transforming its infrastructure and fostering sustainable development. While
challenges persist, Ethiopia's proactive approach to project execution and
its focus on capacity building position it to continue making strides in its
development journey.

 

The government's approach to mega projects involves meticulous planning and
phased implementation. For instance, the $6 billion international airport
near Bishoftu, slated for completion by 2029, is a testament to long-term
strategic planning. Similarly, the Lemi National Cement Factory, inaugurated
in September 2024, exemplifies efficient project execution, with a
production capacity of 15,000 tonnes per day.

 

The ambitious infrastructure agenda has seen significant strides in the
execution of mega projects, reflecting the government's enhanced capacity to
manage and complete large-scale initiatives. This progress underscores a
commitment to economic transformation and regional integration.

 

With continued focus on institutional strengthening, transparency, and
inclusive governance, Ethiopia aims to enhance its capacity to finalize mega
projects, contributing to sustainable economic growth and regional
development. While challenges remain, the country's progress in executing
mega projects reflects a growing capacity to manage large-scale initiatives
effectively. With sustained efforts in governance and oversight, the country
is poised to achieve its infrastructure development goals.

 

Ethiopian Herald.

 

 

 

South Africa: More Than R4-Billion Has Flowed to Dodgy Water Contracts, Siu
Probe Finds

Two companies, Blackhead Consulting and LTE Consulting, are at the centre of
a Limpopo water contract that paid out R4.1-billion from an initial budget
of R90-million.

Blackhead was also involved in the Rooiwal wastewater treatment works
upgrade project in Pretoria, the failure of which contributed to the
Hammanskraal cholera outbreak in 2023.

These are just two of 14 investigations into the sector by the Special
Investigating Unit since 2008.

Blackhead Consulting, owned by corruption-accused Edwin Sodi, and LTE
Consulting each appear in more than one SIU investigation.

Neither has been prevented from doing further business with the state.

Four criminal cases have been referred for prosecution by the Special
Investigating Unit after a probe into the failed Rooiwal wastewater
treatment works upgrade in Tshwane.

 

The four cases involve Blackhead Consulting, which was part of a joint
venture company contracted by the City of Tshwane for the Rooiwal upgrade.
Blackhead is owned by Edwin Sodi, who is currently one of 17 accused in the
ongoing Free State asbestos trial. Blackhead Consulting has also been the
centre of another SIU investigation into the raising of the Tzaneen Dam
wall.

 

Together with LTE Consulting, Blackhead is fingered in irregular contracts
amounting to more than R4-billion.

 

In the Rooiwal upgrade, Blackhead was in a joint venture with CMS Water
Engineering and NJR Projects, but the urgent refurbishment was not completed
as the contractors abandoned the site, resulting in the municipality
terminating the contract in July 2022. At that point, R147-million had been
paid to the joint venture. The total contract amount was R291-million.

 

The failure to upgrade Rooiwal, which is not properly treating sewage before
releasing almost 300-million litres of effluent into the Apies River per
day, contributed to the deadly 2023 cholera outbreak in Hammanskraal which
killed 29 people.

 

Blacklist

 

But, the SIU revealed in its report to Parliament's Water and Sanitation
Portfolio Committee, Blackhead has still not been placed on the National
Treasury's blacklist of companies that may no longer do business with the
state.

 

This is in spite of a request by the City of Tshwane to the Treasury in
February last year. Blackhead was also embroiled in the Free State asbestos
corruption scandal involving former Free State Premier Ace Magashule.

 

When GroundUp reported on this last year, the Treasury stated that the City
of Tshwane had not followed the process necessary to prevent Sodi's company
from doing business with the state.

 

Treasury's "media unit" stated Treasury had communicated this to Tshwane,
but had received no response.

 

GroundUp has sent questions to the City of Tshwane on this matter, but has
received no response.

 

Questioned by MPs on the portfolio committee, SIU head Andy Mothibi said the
SIU had referred the companies involved in the Rooiwal debacle to the
Department of Water and Sanitation (DWS) so that the department could get
them blacklisted by Treasury.

 

Mothibi said the DWS was responsible for this "administrative action", but
the SIU had engaged with Treasury to "find out how far these blacklistings
are".

 

"Some have (been blacklisted), some not. We will continue to engage to
ensure they are blacklisted," he said.

 

Water and Sanitation Minister Pemmy Majodina said the department could not
get the company blacklisted while it was still under investigation. An
investigation did not exclude a company from procurement, she said. This was
one of a number of "gaps in law", she said.

 

MP Visvin Reddy (MK) said this was "the crux of the problem".

 

"These companies like LTE and Blackhead, it's not something they did
yesterday. They've been under investigation for quite some time." Reddy
bemoaned the fact that investigations went on "for years" while the
companies continued doing business with government in the meantime.

 

Procurement for pals

 

Blackhead Consulting was also part of an SIU investigation into the contract
awarded by Lepelle Northern Water for the raising of the Tzaneen Dam Wall.

 

The SIU found Lepelle Northern Water, which is a public water utility, made
it impossible for competitors to quote on the job.

 

In its presentation, the SIU said the water utility gave professional
service providers just eight hours to respond to a request for quotations
for raising the dam wall. Further, the quotations had to be handed in at the
water utility's offices in Polokwane, but all the service providers who
received the documents were based outside of Limpopo. This was despite the
fact it was not an emergency project, having been part of DWS planning since
2012.

 

The SIU found that although the project was awarded to LTE Consulting, it
was later passed on to Blackhead, and that "there is a relationship between
the directors of the two companies". Blackhead was not on the DWS panel of
preferred service providers.

 

Between March 2016 and September 2017, Blackhead invoiced the water utility
for R93-million, but the SIU is instituting civil litigation to set aside
the contract and recover the money.

 

The general manager of operations at Lepelle Northern Water was dismissed in
December 2023 following a disciplinary hearing, and the outcome of a
disciplinary hearing against the Supply Chain Management manager is awaited.
Another member of the bid evaluation committee was dismissed following a
disciplinary hearing on an unrelated matter.

 

Ballooning budgets

 

LTE Consulting was also found to have been irregularly appointed by Lepelle
Northern Water for the refurbishment of the Giyani water and wastewater
scheme, and the Mopani water and wastewater scheme.

 

LTE was initially appointed in August 2014 for the Giyani project at an
amount of R90-million. A month later, the investigation found, Lepelle
Northern Water issued LTE with another appointment letter for the Giyani
project, now with a total estimated cost of R2.2-billion. A month after
that, in October 2014, Lepelle Northern Water issued another letter to LTE,
this time folding the Mopani project into the deal.

 

The initial appointment in August 2014 was through a deviation from normal
procurement processes, and the later project cost increase of more than
R2.1-billion was without an approved budget plan, and contrary to directives
from the minister. The SIU further found that Lepelle Northern Water paid an
additional R1.9-billion to LTE.

 

Beyond the lack of budget and ministerial approval, the contract with LTE
was irregular and unlawful as the company was not registered with the
Construction Industry Development Board, as required, and thus could also
not appoint contractors for what was a turnkey project.

 

The SIU "identified a corrupt relationship" between the Lepelle Northern
Water officials, service provider and department officials, in a deal in
which Lepelle Northern Water paid "approximately R4.1 billion to the service
provider, which far exceeds the original contract value of R2.2-billion",
stated the report to Parliament.

 

Among the findings by an independent quantity surveyor appointed by the SIU,
was that LTE charged more than R7-million to drill five sample boreholes,
and charged R2.5-million for water purification plants that did not work.

 

The full assessment found costs had been inflated by just under
R900-million. The resulting civil litigation to declare the contract
unconstitutional and reclaim the money paid, was filed in the High Court in
2018. It is due to be heard in the Polokwane High Court at the end of July
this year.

 

Billions for Zuma's War on Leaks

 

In its presentation to Parliament, the SIU provided details of nine
investigations into water and sanitation projects that had been concluded,
emerging from proclamations from 2008 to 2023. Information on a further five
ongoing investigations under proclamations from 2022 to 2025 was also
provided.

 

Another investigation involving R2.2-billion, under proclamation R164 of
2024, involves three programmes initiated by the DWS. One of the programmes,
the "War on Leaks", launched by former president Jacob Zuma in 2015, in
which thousands of young people were to be trained by Rand Water and the
Energy and Water Sector Training Authority to combat water leaks, ballooned
from a R2.2-billion budget to expenditure of R4.7-billion.

 

The SIU reported that R40-million of R1.7-billion paid to Rand Water was in
"unexplained and unsubstantiated contingency fees". Additionally, 29 "role
players" (including officials, private individuals and entities) have been
identified for investigation.

 

The most recent investigation, into the eThekwini Municipality following a
proclamation in February this year, is related to allegations of serious
maladministration in the provision of water and sanitation services to
schools and homes. The allegations stretch back to 2015.

 

Cleaning house

 

The DWS told Parliament it supported the SIU's investigations and welcomed
the establishment of the Water Sector Anti Corruption Forum to be launched
on 14 May.

 

Minister Majodina said the department didn't "leave any stone unturned on
issues and matters that have been referred to the department" by the SIU.

 

Deputy Director General Nthabiseng Fundakubi told Parliament there had been
no unauthorised expenditure by the department since the 2018/19 financial
year. Irregular, fruitless and wasteful expenditure had been drastically
reduced. In 2018/19, irregular expenditure was at its highest, at
R2.5-billion. Fruitless and wasteful expenditure in that year was at
R60-million.

 

Fundakubi said internal forensic audits since 2019/20 had led to 446
allegations of financial misconduct being investigated, and 326 of them were
found to be valid. She said an additional 73 cases were under investigation
and seven cases that had been received recently were yet to be investigated.

 

She said the resulting disciplinary processes had led to various sanctions.
These included dismissal, demotion, suspension without pay, and written
warnings.

 

The cases had resulted in R1,3-million being recovered so far, and a
judgment of R27.5-million in favour of the department.

 

Additionally, SIU investigations had led to R459-million being returned to
the department from companies involved in irregular contracts, with
R77-million of this yet to be paid.

 

GroundUp.

 

 

 

 

 

South Africa: Mining Companies Are Breaking Their Promises - and the State
Is Doing Nothing About It

MACUA report finds mining companies are not sticking to their Social and
Labour Plans

 

A three-year study by Mining Affected Communities in Action (MACUA) has
found that 11 mining companies have failed to meet the promises they made to
their communities.

 

The report, titled "Looted Promises: the Crumbs Economy of Mining and the
Myth of the Just Transition", also finds that Parliament's mining portfolio
committee and the Department of Mineral and Petroleum Resources (DPMR) have
failed to hold mining companies accountable.

 

The report studied the five-year Social and Labour Plans (SLPs) submitted by
11 companies Mpumalanga, North West, Free State, Northern Cape, Limpopo and
KwaZulu-Natal ending between 2022 and 2024. Mining companies are obliged to
submit SLPs to the DMPR as part of their application for a mining right.
SLPs are valid for a period of five years, in which they need to be
implemented.

 

In their plans, the 11 companies -- South32, United Manganese of Kalahari
(UMK), Palabora Mining Company (PMC), Tumelo Colliery, Bushveld Vatmeco
Mine, Glencore Waterval Mine, Seriti Resources' Klipspruit Colliery, Ikwezi
Vanadium, Lentswe Tshipi Mine, Siyanda Bakgatla Platinum Mine (SBPM) and
Tetra4 -- promised to spend R376.25-million on community projects including
roads and schools.

 

But when MACUA visited the communities, the organisation found that only
R92-million in projects had been spent. Projects worth R284-million had not
been completed.

 

MACUA conducted the social audits between 2022 and late 2024.

 

MACUA said collectively the companies had generated profits of R72-billion
over the five-year SLP period. Yet less than 1% of profit had been spent on
SLP projects.

 

"This is not underperformance. It is developmental theft-- a system of
Crumbs Capture, in which even the legally required entitlements of the poor
are systematically looted, while mining companies and politically connected
actors continue to profit from public deception," said MACUA in the report.

 

According to the Minerals Council of South Africa mining companies claiming
to represent 59% of the industry reported spending R4.9-billion on social
investment in 2023. If the rest of the industry spent the same, the annual
spend on community projects must have been R8.3-billion, or R16.6-billion
over two years. If all the companies spent as little as the 11 surveyed by
MACUA, this means more than R12.7-billion designed for community projects
has not been spent.

 

The audits found only six of the 11 companies had made their SLPs publicly
available, and only two had provided SLPs in a locally spoken language.
Several companies, Glencore Waterval, Bushveld Vametco, Ikwezi, and Tumelo,
refused direct requests to share their SLPs, citing internal policy.

 

The MACUA audit found that in Mononono, a rural community in the Moses
Kotane Local Municipality and in Robakala in Madibeng Local Municipality,
North West, fewer than one in ten promised projects had been completed by
Lentswe Tshipi Mine and Bushveld Vatmeco Mine.

 

The auditors found Glencore Waterval Mine's had failed to build a high
school in Ikemeleng near Kroondal despite making such a commitment. Bushveld
Vatmeco Mine in Robakala had failed to finish promised roads.

 

In Magojaneng community in Northern Cape, where United Manganese of Kalahari
operates one of South Africa's most profitable manganese mines, the mine
promised to spend R172-million in its 2018-22 SLP. UMK promised that a 55km
Khathu-Hotazel road project worth R28-million would benefit both the
industry and local communities.

 

But MACUA found that the road's design only benefits mining companies who
transport minerals to Khathu. Most Magojaneng community members expressed no
knowledge of the road project. Hardly any could recall any information about
it. Three years after its supposed completion date, the road is still
unfinished and invisible to the community it was intended to benefit.

 

UMK, co-owned by Chancellor House, the ANC's investment vehicle, and Russian
oligarch Viktor Vekselberg, has never published its financials, but claims
compliance through the DMPR's self-reporting regime.

 

Many communities indicated that they had never been consulted by the mining
companies operating in their communities and had no knowledge of what an SLP
is.

 

"Decisions are made for us, not with us," said one participant in MACUA's
survey.

 

In Pullens Hope, which is affected by the operations of Tumelo Colliery in
Steve Tshwete Local Municipality in Hendrina, Mpumalanga, the mine failed to
implement a road improvement project listed in its SLP. Residents who raised
concerns at local forums were ignored or redirected, and no mechanisms were
available for follow-up or resolution.

 

In Meloding, in the Matjhabeng Local Municipality, Free State, residents
said a promised borehole and rain tanks project had vanished right after
media appearances and political announcements.

 

"We feel like our suffering is used for paperwork," one resident said during
the audit.

 

This sentiment was echoed in nearly every community MACUA visited,
reflecting the broader disempowerment and disenfranchisement that defines
the relationship between mining companies and affected communities today.

 

Christopher Rutledge, MACUA-WAMUA Advice Office's executive director, said
MACUA's findings were not based on speculation. "They are grounded in
verified audit findings and reflect a consistent under-delivery rate of 77%
--a rate that, if even partially representative of national performance,
would constitute one of the largest public development failures in
post-apartheid South Africa."

 

"We are witnessing what can only be described as a national developmental
crisis," said MACUA in the report. "The scale, consistency, and audacity of
this under-delivery -- backed by ghost infrastructure, falsified reports,
and complete absence of enforcement -- requires immediate action at the
highest levels."

 

MACUA has consistently reported its social audit findings to the DMPR, but
the department has failed to initiate any investigations or impose penalties
on mining companies.

 

Parliament has similarly failed to act.

 

Magnificent Mndebele is a media and communications manager at MACUA-WAMUA
Advice Office and a lecturer in journalism and communication at Eduvos
Midrand Campus and the University of Johannesburg. MACUA's report will be
launched on Thursday, 15 May at 87 De Korte, The Forge, Braamfontein, from
10h00 to 14h00.

 

Views expressed are not necessarily those of GroundUp.

 

Read the original article on GroundUp.

 

 

 

South Africa: Minister of Finance to Deliver 2025 Budget Speech in
Parliament

The Minister of Finance, Mr Enoch Godongwana, will deliver the 2025 Budget
Speech during the National Assembly plenary sitting scheduled for Wednesday,
21 May, at the Cape Town International Convention Centre (CTICC).

 

At the same plenary, Minister Godongwana will also introduce the
Appropriation Bill and table the 2025 Division of Revenue Bill, which
Parliament will process in the following months. During the Budget Speech,
the finance minister indicates the allocation of financial resources to the
national government's priorities outlined by President Cyril Ramaphosa in
the 2025 State of the Nation Address. Among other things, the Budget aims to
balance economic growth and support for the vulnerable in our society
despite limited resources.

 

DETAILS OF THE BUDGET SPEECH ARE AS FOLLOWS:

 

Date: Wednesday, 21 May 2025

 

Time: 14:00

 

Venue: Cape Town International Convention Centre (CTICC)

 

Important to note:

 

Members of the Media, including photographers who wish to cover the Budget
Speech in person, should register for accreditation on the following link:
https://forms.office.com/r/WEktZgkKaL before 17:00 on Friday, 16 May 2025.

 

Minister Godongwana's 2025 Budget Speech will be broadcast live on
Parliament TV (DSTV Channel 408) and livestreamed on Parliament's website
and social media platforms, including Parliament's YouTube Channel.
Parliament will also provide live feeds to the interested broadcasters upon
request.

 

Parliamentary sittings are open to the media and the public. Members of the
public can follow parliamentary sittings live on Parliament TV (DSTV Channel
408), through a live stream on Parliament's website, Parliament's YouTube
channel, and X (Twitter) page on the links below:

 

Read the original article on Parliament of South Africa.

 

 

 

 

Nigeria: Senator Wants Informal Settlements Around Abuja Airport Demolished

The Deputy Chief Whip of the Senate, Onyekachi Nwebonyi, on Wednesday called
on the Minister of the Federal Capital Territory (FCT), Nyesom Wike, to
demolish informal settlements near the Nnamdi Azikiwe International Airport
in Abuja and relocate the inhabitants.

 

Mr Nwebonyi, who represents Ebonyi North Senatorial District, made the call
during the plenary while contributing to the debate on the 2025 statutory
budget of the FCT.

 

The senator said some of the structures around the airport do not project a
positive image of Nigeria to visitors flying into the capital, describing
the communities as an eyesore.

 

"I want the FCT minister to extend the infrastructural development of the
FCT within the surroundings of the Abuja airport. If you're descending into
Abuja airport, the inhabitants, the type of infrastructure within the
environs, ..., does not represent the good image of this country, and I
think that the FCT minister should capture it in their next budget."

 

Several informal settlements are located along the Abuja airport road. The
residents of such communities include locals who consider them their
ancestral home as well as low-income earners unable to afford the exorbitant
rent in many parts of the Nigerian capital.

 

Such communities are often marked by inadequate infrastructure and some are
classified as unauthorised by the Federal Capital Territory Administration
(FCTA).

 

In recent years, the FCTA has carried out demolition exercises in these
areas as part of efforts to enforce the Abuja Master Plan.

 

The Debate

 

Responding, the Senate President, Godswill Akpabio, questioned the rationale
behind Mr Nwebonyi's call, asking for clarification on the specific location
being referenced.

 

"Senator Nwebonyi, which part of the airport? If you're coming from the
airport, the first place you see on the right is the presidential wing,
thereafter you will come across a very beautiful flyover, you'll now descend
towards the road that comes to the airport when you get to the airport road,
you'll see road completed with streetlights particularly in the night, very
beautiful," Mr Akpabio asked.

 

In response, Mr Nwebonyi said he was referring to "shanties at the back of
the Abuja airport."

 

The senate president then told the senator that those communities are
people's homes and that the owners of the shanties built what they could
afford.

 

"When you're inside the plane? That is somebody's village. The owners of
those houses, that's what they can afford. Are you saying we should go to
those places and evacuate them so that when your plane is coming, you'll see
high rises? You're talking about when you look from the window, you want to
see beautiful Chinese infrastructure but that place belongs to people," Mr
Akpabio said.

 

Despite the senate president's comments, Mr Nwebonyi insisted that the area
lies within the capital and should, therefore, be developed.

 

Afterwards, Mr Akpabio put Mr Nwebonyi's proposal to a vote, and the
majority of the senators opposed it through a voice vote.

 

Mr Akpabio subsequently ruled Mr Nwebonyi out of order.

 

Adamu Aliero (Kebbi Central), a former FCT minister, also contributed to the
discussion, clarifying that the lands in question have already been
allocated for formal development.

 

"He's referring to the illegal settlement. The land has already been
allocated to some people but development has not reached there. When
development reaches there, the people will be pushed out," he said.

 

Read the original article on Premium Times.

 

 

 

 

Kenya: Massive Budget Cuts Throw Health Sector Into Disarray, Threaten HIV
Programmes, SHIF Rollout

Nairobi — The rollout of the Social Health Insurance Fund (SHIF),
procurement of essential HIV and family planning commodities, and payment
for Community Health Promoter (CHP) kits risk stalling following a Sh161
billion budget cut in the Ministry of Health's 2025/2026 allocation.

 

Key government programmes aimed at strengthening the country's health
system, including vaccine production, the Managed Equipment Services
programme, and operations of semi-autonomous government agencies (SAGAs),
are also facing significant funding gaps, threatening to paralyze service
delivery.

 

The alarming shortfall was revealed in budget documents tabled before the
National Assembly's Departmental Committee on Health by Medical Services
Principal Secretary Dr. Ouma Oluga.

 

The documents show that the Ministry of Health had requested Sh426.8
billion,Sh350.6 billion for recurrent expenditure and Sh76.2 billion for
development but was only allocated Sh105.4 billion.

 

This reflects a drastic reduction of Sh67.2 billion from what was initially
indicated in the Budget Policy Statement.

 

"Chair and Honourable Members, the Budget Estimates have provided funding
towards key strategic interventions in the health sector for service
delivery," said Oluga.

 

"However, there are key areas that are unfunded or underfunded, and this is
expected to affect service delivery."

 

According to Oluga, some of the most affected areas include the procurement
of HIV/AIDS, family planning and immunization commodities, historical
underfunding of SAGA staff salaries, human vaccine production, and key
presidential directive projects.

 

The SHIF rollout, a flagship programme under the recently enacted Social
Health Insurance Act, 2023, has been hit particularly hard.

 

The fund, alongside the Primary Health Care Fund and the Emergency, Chronic
and Critical Illness Fund established under new health legislation faces a
staggering shortfall of Sh145 billion.

 

According to the Ministry's projections, the Primary Health Care Fund alone
requires Sh61 billion but was only allocated Sh13 billion, leaving a funding
gap of Sh48 billion. Similarly, the Emergency, Chronic and Critical Illness
Fund needs Sh107 billion but received just Sh10 billion, creating a deficit
of Sh97 billion.

 

The procurement of essential commodities has also been severely compromised.
The department reported a Sh4.27 billion shortfall for the purchase of
life-saving vaccines and reproductive health supplies.

 

This includes Sh2 billion for traditional vaccines, Sh1.69 billion for Gavi
co-financing which is mandatory under global health agreements Sh585 million
for the Vaccine Independence Initiative (VII) payment to UNICEF, and Sh2.88
billion for family planning commodities.

 

The HIV/AIDS programme, already reeling from a freeze in U.S. government
funding, now requires Sh33.9 billion from the government to stay afloat.

 

The ministry warns that without this funding, critical services to thousands
of people living with HIV could be disrupted.

 

"The State Department further requests that these funds be ring-fenced in
the FY 2025/2026 and the Medium-Term Budget, and further be exempted from
any budgetary cuts in supplementary estimates," the documents read.

 

"The budget requirement for procurement of strategic commodities under HIV,
Family Planning, and Vaccines programmes has undergone a perpetual financial
rationalization over the years during supplementary estimates, affecting the
achievement of set targets. Further, there has been a steady reduction in
donor funding for these programmes and therefore calls for the need to
increase Government of Kenya counterpart funding."

 

Also at risk is the government's promise to equip and remunerate thousands
of Community Health Promoters (CHPs). The programme received just Sh375
million against a requirement of Sh4 billion, leaving a Sh3 billion deficit.

 

The ministry warned that this gap has created a pending bill that threatens
the entire community health strategy.

 

"During the financial year 2024/2025, the State Department was allocated
Kshs. 375 million against a funding requirement of Kshs. 4 billion,
resulting in a deficit of Kshs. 3 billion as a pending bill. The State
Department for Medical Services is requesting for an additional funding of
Kshs. 3 billion to settle the balance and clear the above pending bill," the
ministry stated.

 

Major national referral institutions, including Kenyatta National Hospital
(KNH), Moi Teaching and Referral Hospital (MTRH), Kenyatta University
Teaching, Referral & Research Hospital (KUTRRH), and the Kenya Medical
Research Institute (KEMRI), are also facing a combined funding shortfall of
Sh6.1 billion.

 

The ministry has further reported a Sh500 million deficit in personal
emoluments, resulting in intermittent service disruptions, and a Sh2.5
billion gap in funding for health systems restructuring and process
re-engineering.

 

Read the original article on Capital FM.

 

 

 

Mali: Govt Takes TV5 Monde Off Air

French-language news channel TV5 Monde has been off the air in Mali since
May 13. The company's broadcasting rights were revoked by the country's
communications authority, reports allAfrica.fr.

 

The decision was shared in a letter on Friday, May 9, and said the reason
was the May 3 news broadcast in which TV5 Monde reported on protesters
demanding an end to the transition members of the Mali legislative body
installed by the ruling military passed the bill abolishing the country's
Charter of Political Parties on May 12.

 

The Malian junta had suspended the activities of political parties a week
before, citing "public order reasons".

 

Activists took to the streets to protest against the military's continued
rule without elections and demanded a return to constitutional order.

 

The Malian regulatory authority said the TV5 report from the 8:30pm news on
May 3 was "biased, unbalanced, and defamation of the armed and security
forces".

 

 

 

South Africa: 100 Unpolished Diamonds Recovered in Operation Vala Umgodi

Nationwide Vala Umgodi operations conducted during the month of April has
led to the arrest of 1 857 suspects of different nationalities.

 

"These suspects were arrested for illegal mining related offences and
various other crimes such as murder, attempted murder, unlawful possession
of explosives and possession of counterfeit goods," the South African Police
Service (SAPS) said in a statement on Tuesday.

 

"More than 100 unpolished diamonds were seized during three separate Vala
Umgodi operations in and around the areas of Kleinzee and Port Nolloth and
Northern Cape leading to the arrest of 15 illegal miners," the police said.

 

Other items seized during Vala Umgodi operations in April 2025 include:

 

27 unlicensed firearms,

385 rounds of ammunition,

71 vehicles that include sedans, bakkies, trucks, big mining machineries,
trailers, and tractors,

341 phendukas and 6 phenduka stands.

In the same month in the Free State, the SAPS' Bomb Disposal and Explosive
Experts, with the support of a private security company, seized 290
detonators. These explosives were allegedly left abandoned by illegal
unground miners at Kopanong mine.

 

On 21 April 2025 in Gauteng, an intelligence-driven operation in Primrose
and Rietvlei, resulted in the arrest of 10 illegal miners. In Primrose, a
joint operation at Marathon/Rasta informal settlement led to the arrest of
eight individuals found in possession of various equipment that include
phendukas, steel balls, gas cylinders, and generators. Two of these suspects
were also found in possession of unlicensed firearms and live ammunition.

 

In KwaZulu-Natal, an intelligence driven operation by members who are
deployed to Operation Vala Umgodi in the province led to the arrest of five
suspects. They were found in possession of R1.5 million worth of Eskom
property in the vicinity of Empangeni and Mtunzini policing precincts on 06
April 2025.

 

A Vala Umgodi operation in Limpopo led to the arrest of 69 illegal miners
and undocumented foreign nationals in and around Sekhukhune, Vhembe, Mopani,
and Capricorn Districts between Saturday, 12 April 2025 and Sunday, 13 April
2025. Various illegal mining equipment were also seized.

 

On 26 April 2025, the Vala Umgodi team deployed in Mpumalanga arrested 38
suspects during a disruptive operation carried out at Simile informal
settlement in Sabie and at Skoonplaas informal settlement in Pilgrims Rest.

 

In the North West, a total of 21 accused appeared in the Brits and Mogwase
Magistrates' Courts on 24 April 2025, for contravention of the Immigration
Act, 2002.

 

These suspects were apprehended during Vala Umgodi operations executed on
Wednesday, 23 April 2025 and Thursday, 24 April 2025, in Witrandjie village
near Sun City and Majakaneng village, outside Brits respectively.

 

Out of 21 accused, three were found guilty by the Brits Magistrate's Court
and sentenced to six months imprisonment or a fine of R2000 wholly
suspended. The court also ordered that the accused be deported to their
countries of origin. The other accused were remanded in custody until their
next individual appearances at both Mogwase and Brits courts.

 

Operation Vala Umgodi is government's response to prevent and combat illegal
mining activities in the country.

 

Since its inception in December 2023, more than 20 000 suspects have been
arrested while over 600 firearms, that include imitation firearms (toy guns)
and 14 000 rounds of ammunition have been seized through Vala Umgodi
operations.

 

Read the original article on SAnews.gov.za.

 

 

 

Kenya: Mombasa Becomes First African County to Get Public Buildings
Certification

Mombasa County has made history as the first sub-national government in
Africa to secure a portfolio EDGE (Excellence in Design for Greater
Efficiencies) certification for public buildings, affirming its leadership
in climate action and sustainable urban development.

 

The certification, awarded by the Kenya Green Building Society (KGBS),
covers five key facilities: the Mombasa County Assembly, Office of the
Governor, Port Reitz Sub County Hospital (Operating Theatre and Maternity
Blocks), and Kongowea Market.

 

"This certification is a bold declaration of Mombasa's commitment to climate
leadership and sustainable service delivery," said Governor Abdulswamad
Shariff Nassir.

 

"We are proud to set a continental benchmark and invite other counties to
act with similar ambition."

 

The buildings met EDGE standards for energy efficiency, water conservation,
and reduced embodied carbon, showcasing how green design can enhance both
sustainability and service quality.

 

KGBS hailed the milestone as a "continental first," with CEO Nasra Nanda
calling it "a win for Kenya and Africa, demonstrating what visionary
sub-national leadership can deliver."

 

The certification is part of Kenya's broader decarbonization and climate
resilience efforts under its Nationally Determined Contributions (NDCs) and
Vision 2030.

 

Speaker of the County Assembly Hon. Aharub Khatri and County CECM Emily
Achieng emphasized that the initiative reflects a long-term vision to embed
sustainability in governance, infrastructure, and climate resilience.

 

The project was supported by global partners including IFC, Bureau Veritas,
and the Intergovernmental Council for Buildings and Climate, with
stakeholders describing it as a transformative shift in public
infrastructure.

 

Read the original article on Capital FM.

 

 

 

Nigerian Govt Approves Revitalisation of Ikere Gorge Hydropower Plant

Mr Adelabu emphasised that the revitalised plant will prioritise energy
access for Oyo's Oke Ogun communities, with an upwardly revised concession
fee ensuring long-term viability.

 

The Nigerian government has approved two major energy projects in Oyo State
aimed at fortifying the national grid and addressing persistent power
challenges.

 

Bolaji Tunji, special adviser on strategic communication and media relations
to the Minister of Power, Adebayo Adelabu, in a statement on Wednesday, said
the decisions were ratified during Monday's Federal Executive Council (FEC)
meeting.

 

The projects approved, according to him, include reviving and concessioning
the decades-old Ikere Gorge Hydropower Plant and constructing a
high-capacity new substation in Ibadan.

 

"The new substation to be located in Lalupon/Ejioku axis of Lagelu local
government area will boost power supply to Iwo road, Monatan, Olodo and the
adjoining areas in Ibadan.

 

"Originally launched in 1979 under the military regime of former President
Olusegun Obasanjo and operationalised in 1980 during President Shehu
Shagari's tenure, the Ikere Gorge Hydropower Plant will now undergo a
significant upgrade," the statement said.

 

This, he said, signals a push to modernise infrastructure and boost
electricity access.

 

The Ikere Gorge Dam, a key project under the Ogun-Osun River Basin
Development Authority, aims to harness the water resources of the Ogun River
basin. Conceived by Olusegun Obasanjo during his military regime,
construction began in 1982 under Shehu Shagari's civilian administration,
with an initial estimated cost of $10 million.

 

The dam spans approximately 47 square kilometres and has an electricity
generation capacity of 37.55 megawatts. The project's civil works contract
was awarded to Roads Nigeria Limited in November 1980 for N35.8 million,
while Messers Noell (W.A) Limited handled the mechanical and electrical
components.

 

Following the 1983 military coup that ousted Shagari's government, led by
Tunde Idiagbon and Muhammadu Buhari, work on the dam came to a grinding
halt. For decades, successive administrations neglected the project, leaving
it abandoned.

 

Minister speaks

 

Mr Adelabu revealed that the facility's capacity will expand from 6MW to
20MW under a 30-year public-private partnership (PPP) concession.

 

"The project, initially stalled due to a preferred bidder's failure to
finalise terms, was re-concessioned to a reserve contractor, Messrs Quaint
Power and Infrastructure Nigeria Limited, after the original offer lapsed,"
the statement said.

 

The minister emphasised that the revitalised plant will prioritise energy
access for Oyo's Oke Ogun communities, with an upwardly revised concession
fee ensuring long-term viability.

 

According to the statement, the government also approved the construction of
a 2 x 60MVA, 132/33KV substation in Lalupon/Ejioku in Lagelu local
government area of the state, to alleviate pressure on the grid and improve
energy supply.

 

It said the substation, part of the Siemens-backed Presidential Power
Initiative (PPI), is to be funded directly by the Federal Ministry of Power
and aims to resolve frequent outages and grid instability plaguing the state
capital.

 

Mr Adelabu, according to the statement, noted that the infrastructure will
serve as a backbone for strategic investments, enhance service delivery, and
align with President Tinubu's Renewed Hope Agenda for sustainable energy.

 

"The project includes upgrades to the 60-year-old 330kv Ayede substation and
the construction of a new Asejire 330kv substation, further stabilising the
grid for over 5 million residents. Completion is estimated at 24 months."

 

It said both initiatives are expected to catalyse socio-economic growth by
improving power reliability for households, small businesses, industry,
educational and health institutions.

 

The minister underscored the role in resolving decades-old infrastructure
gaps, noting that "These interventions will directly uplift livelihoods,
attract industries, and position Oyo State as a model for Nigeria's energy
transition."

 

"The approvals mark a critical milestone in federal efforts to tackle grid
vulnerabilities, with stakeholders anticipating ripple effects on national
productivity," the statement said.

 

Read the original article on Premium Times.

 

 

 

 

Nigeria: Brazil's Petrobras Mulls Return to Nigeria's Oil Sector, Targets
Deep-Water Acreage

The state oil company of Brazil, Petrobras, is seeking to re-enter Nigeria's
oil sector, with a specific interest in frontier deep-water acreage.

 

As the economic reforms of the administration of President Bola Tinubu take
root, the company, which had previously wound down its operations in Nigeria
at the Agbami Field, is now actively engaging with Nigerian authorities as
part of broader efforts to revitalise bilateral cooperation ahead of the
2025 Nigeria-Brazil Strategic Dialogue Mechanism (SDM).

 

This formed part of the discussions on Wednesday during the interministerial
review meeting chaired by Vice-President Kashim Shettima at the State House,
Abuja, to coordinate Nigeria's preparations for the second session of the
SDM scheduled for June 2025.

 

Speaking at the meeting, Shettima said: "The presence of six ministers and
the Solicitor-General of the federation in this review meeting ahead of the
second session of the Nigeria-Brazil Strategic Dialogue Mechanism shows the
importance we have attached to our relationship with Brazil.

 

"We have not maximally capitalised on the fraternity between us and Brazil,
but it is better late than never. The upcoming SDM presents an opportunity
to execute sector-specific Memoranda of Understanding (MOUs) and unlock
investment flows."

 

The vice-president particularly noted that 2025 represents a critical moment
of interface with Brazil, emphasising that the convergence of international
events provides Nigeria a unique opportunity to advance its interests on the
global stage.

 

"This year is our moment of interface with Brazil. Brazil is hosting so many
global events this year, from the BRICS Summit to the G20 Summit and COP30.
This convergence of events provides us with a unique opportunity to advance
our interests on the global stage," he said.

 

Shettima commended the ministers for their passion and aggression in
pursuing Nigeria's national interest, noting that: "There is a sea change in
our attitude, disposition and commitment."

 

Earlier, the Foreign Affairs Minister, Ambassador Yusuf Tuggar, confirmed
ongoing engagements with Petrobras, saying: "Apart from Ethanol, which they
are hoping to engage the NNPCL for blending, Petrobras is also being
actively engaged, and we expect they will form part of the delegation to
Nigeria. Petrobras is no longer active in Nigeria, but they are very keen on
coming back to Nigeria. They said they want frontier acreage in deep
waters."

 

Tuggar further reported that Brazil's preparations for the dialogue are well
advanced, with both government agencies and private sector players being
actively engaged by the Brazilian vice-president.

 

The Ministry of Foreign Affairs, which is coordinating the interministerial
working groups, has compiled at least 12 draft MoUs

 

covering areas such as energy, health, culture, and agriculture pending
approval from the Ministry of Justice.

 

Also speaking, the Minister of Art, Culture, Tourism and Creative Economy,
Hannatu Musawa, emphasised the historical and ancestral connections between
Nigeria and Brazil, noting that a significant percentage of Brazilians trace
their roots to Nigeria.

 

"We must not only preserve this relationship but deepen it. We've finalised
MoUs with the Nigerian Film Corporation on audiovisual co-productions, the
National Gallery of Arts for joint exhibitions, and the Centre for Black and
African Arts and Civilisation ahead of FESTAC at 50 next year," Musawa said.

 

On agriculture, the Minister of Agriculture, Senator Abubakar Kyari,
outlined completed MoUs focused on research collaborations.

 

"We have finalised MoUs that focus on research in three areas of soybean
value chain development, cassava research and technology transfer and
agro-forestry systems, which promote integrated crop and livestock models
and erosion control and climate adaptation," he said.

 

The minister noted that these efforts build on the previously signed Green
Imperative Project (GIP) agreement between Nigeria and Brazil.

 

On his part, the Coordinating Minister of Health and Social Welfare, Prof.
Muhammad Pate, pointed to Brazil's achievements in universal health coverage
as a model for Nigeria.

 

According to him, "There are important opportunities for us in several areas
in our efforts to achieve universal health coverage and primary health care
between Nigeria and Brazil. They have done a lot that we can learn from
them. There is the aspect of knowledge sharing and workforce and human
capital training in specialised areas.

 

"We see potential for collaboration in pharmaceutical research, local drug
manufacturing, and workforce training. Brazil's experience in addressing
tropical and sub-tropical diseases makes it an ideal partner for joint
research and development."

 

Other ministers present at the meeting included the Minister of Livestock
Development, Idi Mukhtar Maiha and his Environment counterpart, Balarabe
Lawal.

 

Read the original article on This Day.

 

 

 

Jaguar says it has no plans to build cars in the US

Reuters A member of staff works on the production line at Jaguar Land
Rover’s factory in Solihull, Britain, 15 December, 2022.Reuters

UK-based carmaker Jaguar Land Rover has said it does not intend to produce
vehicles in the US, as President Donald Trump's tariffs impact the motor
industry.

 

"Following articles based on comments made by the JLR CEO in the full year
earnings media call, we can confirm we have no plans to build cars in the
US," a spokesperson told the BBC.

 

Jaguar, which has no factories in the US, paused shipments to the country in
April after Trump's first tariff announcements, before resuming exports to
the country this month.

 

This week, the firm joined a growing list of companies to hold back on
giving profit forecasts, as Trump's unpredictable trade policies continue to
impact businesses around the world.

 

 

On Trump's self-declared 'Liberation Day' in early April he announced that
the UK would be subject to 10% tariffs on all the the goods it exports to
the US. More stringent measures were later applied to cars, steel and
aluminium.

 

But last week, the US agreed to allow some steel and aluminium into the
country tariff-free, and reduced the levies on a set number of British cars.

 

A blanket 10% tariffs on imports from countries around the world still
applies to most UK goods entering the US.

 

Rival luxury carmaker Mercedes-Benz, and Chrysler-owner Stellantis have also
held back on giving forecasts, while Ford said the US levies will cost it
about $1.5bn (£1.13bn) this year.

 

Outside the motor industry, top executives at well-known firms have warned
recently about the impact that tariffs are having on their companies and the
wider economy.

 

Last month, technology giant Intel, footwear maker Skechers and consumer
goods firm Procter & Gamble either cut their profit forecasts or withdrew
them, citing economic uncertainty.

 

Meanwhile, sportswear giant Adidas warned import taxes imposed by Trump will
lead to higher prices in the US for popular trainers including the Gazelle
and Samba.

 

This month, Barbie maker Mattel said it will put up the prices of some of
its toys in the US as tariffs increase its costs.-BBC

 

 

 

 

Relief on China's factory floors as US tariffs put on hold

There's a vast empty space in the middle of the factory floor in Foshan in
southern China where workers should be welding high-end air fryers for the
US market.

 

Derek Wang says his American customers were wowed by his air fryer models -
which are controlled via smartphones and can also bake, roast and grill.

 

But then on 2 April, Donald Trump's "Liberation Day" tariffs hit all Chinese
goods entering the US, eventually reaching 145% - and his clients asked him
to pause production.

 

"I tried to keep smiling through my anxiety for the sake of my 40 workers,"
he told the BBC.

 

On Wednesday, as a deal to ease the trade war came into effect, Mr Wang said
his US buyers were back on the phone.

 

Both countries still face some tariffs. There is at least a 30% tax on all
Chinese goods entering the US and Beijing has kept a 10% levy on American
goods coming into the country, down from 125%.

 

But this surprise agreement after a weekend of negotiations in Switzerland
has given factories and businesses some breathing room.

 

"At this time, our US client is willing to pay for the tariffs. Of course,
we had to bargain with them as they asked us to lower some of our costs," he
said.

 

 

BBC/Joyce Liu Derek wangBBC/Joyce Liu

Derek Wang spent almost half a million dollars setting up his company

Mr Wang, who studied engineering in Delaware in the US, spent three years
helping develop the air fryer model. It cost him $500,000 to set up his
company and he said the tariffs came as a shock.

 

"It felt like my parents were getting a divorce. China and US are the most
important economic and cultural powers in the world. Their sudden separation
would lead to a world that we cannot imagine. Tariffs as high as 145% would
mean we have to say goodbye to one another.

 

But he adds, "there's a saying in Chinese: good fortune comes out of bad".

 

Mr Wang believes his "good fortune" is that this trade war has accelerated
his plan to diversify away from doing business with America.

 

This is one of the reasons why Beijing believes it has the upper hand in its
negotiations with Washington. China has choices and officials have been
actively encouraging the country's firms to do more business in places like
Africa, South America and South East Asia.

 

Many other Chinese businesses have also told the BBC that they are looking
to diversify away from the US to reduce their reliance on the market -
suggesting in the long-term there could be more of a separation between the
US and China, rather than a divorce.

 

 

BBC/Xiqing Wang A wide shot of the interior of a sparsely filled factory.
Workers are sitting at a long table near the windows, surrounded by shelves.
Behind them, some distance away, are shelves with boxes stacked on
them.BBC/Xiqing Wang

Tariffs meant that some factory orders were paused...

Donald Trump has suggested that he may speak to Chinese President Xi Jinping
by the end of this week. The world's two largest economies will now enter
talks after agreeing to a ceasefire in their economic war for 90 days.

 

Beijing has framed this deal as a win - not just for China but for all
countries facing US tariffs.

 

But it has come at a cost.

 

A short walk through Shunde district - known as the "capital of home
appliances" - presents a sobering assessment of a struggling manufacturing
sector.

 

Factory workers use the cooler evenings in Foshan to let off a little steam.
They spill out into every corner of the local park.

 

During the day they pack, mould and assemble nearly everything that you
would find in your kitchen - from gas stoves and washing machines to kettles
and fridges.

 

At night, after leaving work, one group line dances in one corner of the
small park, while a heated basketball match takes place in another part.

 

Posters lining the walls of the streets tout "stable work and easy" jobs
involving packing and screwing products for 30 days in a home appliance
factory for 16 yuan an hour, to assembling air conditioning units for 20
yuan an hour.

 

But agents told us that several factories had stopped hiring, especially
those linked to the US - some had even shut down parts of their production
line.

 

 

BBC/Joyce Liu Three unemployed men sit on a ledge in a park with some
distance between each of them. One is wearing a blue shirt and squatting,
looking at his phone; another wearing a bright yellow shirt is leaning on
his hand with one foot on the ledge, looking at the camera; beside him is
another man in a white shirt with his legs crossed and looking down at his
phone.BBC/Joyce Liu

... leaving workers struggling to find jobs

The BBC was told that several of these workers will sleep in the park to
save money. Many of them travel to Foshan from their home towns, which can
be hundreds of kilometres away.

 

Several nearby hostels offer rooms for 20 yuan a night, which can be at
least an hour's pay. Many will want to pocket whatever they earn to send it
back to their families.

 

This is the picture of China that President Trump's team have tried to
present – one of sluggish growth, rising unemployment and a chronic housing
crisis.

 

"We're not looking to hurt China," Mr Trump said after the trade agreement
was announced, while adding that China was "being hurt very badly".

 

"They were closing up factories. They were having a lot of unrest, and they
were very happy to be able to do something with us."

 

This may be overstating Beijing's economic woes. This country is still
leading the world when it comes to the production of electric vehicles and
solar panels, and it is making significant headway in artificial
intelligence technology.

 

Officials in China have also continued to stress this country can take the
pain of an economic war. But it is being keenly felt by some on the
frontline and that may be part of why Beijing has started talking to the US.

 

 

BBC/Joyce Liu Two men in white shirts, the bosses of a sofa factory, bend
over to examine a white sofa in a factory. BBC/Joyce Liu

Chinese business owners say their confidence in the US has been shaken

This latest "ceasefire" has prompted a rush of orders between the two
countries as businesses wonder if it can last.

 

He Ke, or HK to his American clients, has called his workers back from their
home towns to restart his sofa business, Gongyuan Furniture.

 

It ground to a halt even before Mr Trump's tariffs hit 145%.

 

"We had a day off straightaway," said Mr He. "Once the tariffs hit 50%, we
had already come to a standstill. When they hit 145%, we certainly could not
do business. It was just not possible."

 

His production line with around 200 workers once took up all four floors of
the building.

 

Since the Covid pandemic, he has only needed one floor and around 40 staff.
But he still has the odd high-profile client – he claims Elon Musk sits on
one of his sofas.

 

 

BBC/Joyce Liu A woman wearing a grey t-shirt at a sofa factory sits in front
of a sewing machine. She is wearing white earbuds and holding a large piece
of green fabric at the table.BBC/Joyce Liu

At a sofa company, production was halted and workers sent home when Trump's
tariffs kicked in

Some workers have already returned and are lifting a soft chair onto a
compressor machine to get it ready to box and ship.

 

Sewing machines hum in the background as workers stitch fabric into the
right shape to cover memory foam cushions.

 

Mr He says he has seen many changes in Foshan since he started making sofas
in 2013.

 

"We feel that the global economy is not good. The domestic economy has also
been hit and this affects the life of people here. In the past, when we went
out to spend money, we spent a lot of money. We did not think about whether
the price was high or cheap. We will buy it as long as we like it. Now, when
we want to buy a relatively expensive things, we have to think twice,
because the money is not easy to earn."

 

Like Mr Wang and his air fryers, Mr He also says he is looking at
diversifying his sales away from the US, but he has hope that the world's
two biggest economies can come to an agreement in the next 90 days.

 

"I am just a small businessman. But I do understand that the game between
these two countries is temporary. I think if they want to survive with each
other for a long time, they will definitely sit down and talk things
over."-BBC

 

 

 

Why India could not stop IMF bailout to Pakistan

Indian paramilitary soldiers stand guard in Srinagar in Indian-administered
Kashmir

Last week the International Monetary Fund (IMF) approved a $1bn (£756m)
bailout to Pakistan – a move that drew sharp disapproval from India as
military hostilities between the nuclear-armed neighbours flared, before a
US-led ceasefire was unexpectedly declared.

 

Despite India's protests, the IMF board approved the second instalment of a
$7bn loan, saying Islamabad had demonstrated strong programme implementation
leading to a continuing economic recovery in Pakistan.

 

It also said the fund would continue to support Pakistan's efforts in
building economic resilience to "climate vulnerabilities and natural
disasters", providing further access of around $1.4bn in funding in the
future.

 

In a strongly worded statement India raised concerns over the decision,
citing two reasons.

 

Delhi questioned the "efficacy" of such bailouts or the lack thereof, given
Pakistan's "poor track record" in implementing reform measures. But more
importantly it flagged the possibility of these funds being used for
"state-sponsored cross-border terrorism" – a charge Islamabad has repeatedly
denied - and said the IMF was exposing itself and its donors to
"reputational risks" and making a "mockery of global values".

 

The IMF did not respond to the BBC's request for a comment on the Indian
stance.

 

Even Pakistani experts argue that there's some merit to Delhi's first
argument. Pakistan has been prone to persistently seeking the IMF's help –
getting bailed out 24 times since 1958 – without undertaking meaningful
reforms to improve public governance.

 

"Going to the IMF is like going to the ICU [intensive care unit]. If a
patient goes 24 or 25 times to the ICU then there are structural challenges
and concerns that need to be dealt with," Hussain Haqqani, former Pakistani
ambassador to the US, told the BBC.

 

 

A sign for the IMF is seen during the 2025 IMF and World Bank Spring
Meetings at IMF Headquarters in Washington, DC, USA 25 April 2025.

As one of the 25 members of the IMF board, India's influence at the fund is
limited

But addressing Delhi's other concerns – that the IMF was "rewarding
continued sponsorship of cross-border terrorism" thereby sending a
"dangerous message to the global community" – is far more complex, and
perhaps explains why India wasn't able to exert pressure to stall the
bailout.

 

India's decision to try to prevent the next tranche of the bailout to
Islamabad was more about optics then, rather than a desire for any tangible
outcome, say experts. As per the country's own observations, the fund had
limited ability to do something about the loan, and was "circumscribed by
procedural and technical formalities".

 

As one of the 25 members of the IMF board, India's influence at the fund is
limited. It represents a four-country group including Sri Lanka, Bangladesh
and Bhutan. Pakistan is part of the Central Asia group, represented by Iran.

 

Unlike the United Nations' one-country-one-vote system, the voting rights of
IMF board members are based on a country's economic size and its
contributions – a system which has increasingly faced criticism for
favouring richer Western countries over developing economies.

 

For example, the US has the biggest voting share - at 16.49% - while India
holds just 2.6%. Besides, IMF rules do not allow for a vote against a
proposal - board members can either vote in favour or abstain – and the
decisions are made by consensus on the board.

 

"This shows how vested interests of powerful countries can influence
decisions," an economist who didn't want to speak on the record told the
BBC.

 

Addressing this imbalance was a key proposal in the reforms mooted for the
IMF and other multilateral lenders during India's G20 presidency in 2023.

 

In their report, former Indian bureaucrat NK Singh and former US treasury
secretary Lawrence Summers recommended breaking the link between IMF voting
rights and financial contributions to ensure fairer representation for both
the "Global North" and the "Global South". But there has been no progress so
far on implementing these recommendations.

 

Furthermore, recent changes in the IMF's own rules about funding countries
in conflict add more complexity to the issue. A $15.6bn loan by the fund to
Ukraine in 2023 was the first of its kind by the IMF to a country at war.

 

"It bent its own rules to give an enormous lending package to Ukraine -
which means it cannot use that excuse to shut down an already-arranged loan
to Pakistan," Mihir Sharma of the Observer Research Foundation (ORF) think
tank in Delhi told the BBC.

 

Indian People walk past the newly unveiled G20 logo in New Delhi, India on 1
December 2022. 

Reforms to the IMF's voting structure were discussed during India's G20
presidency in 2023

If India really wants to address its grievances, the right forum to present
them would be the United Nations FATF (Financial Action Task Force), says Mr
Haqqani.

 

The FATF looks at issues of combating terror finance and decides whether
countries need to be placed on grey or black lists that prevent them from
accessing funds from bodies like the IMF or the World Bank.

 

"Grandstanding at the IMF cannot and did not work," said Mr Haqqani. "If a
country is on that [FATF] list it will then face challenges in getting a
loan from the IMF – as has happened with Pakistan earlier."

 

As things stand though, Pakistan was officially removed from the Financial
Action Task Force (FATF) grey list in 2022.

 

Separately, experts also caution that India's calls to overhaul the IMF's
funding processes and veto powers could be a double-edged sword.

 

Such reforms "would inevitably give Beijing [rather than Delhi] more power",
said Mr Sharma.

 

Mr Haqqani agrees. India should be wary of using "bilateral disputes at
multilateral fora", he said, adding that India has historically been at the
receiving end of being vetoed out by China in such places.

 

He points to instances of Beijing blocking ADB (Asian Development Bank)
loans sought by India for the north-eastern state of Arunachal Pradesh,
citing border disputes between the two countries in the region.-BBC

 

 

 

Trump touts 'record' Boeing-Qatar Airways deal

Qatar Airways has agreed to buy up to 210 jets from American manufacturing
giant Boeing, according to US President Donald Trump, who announced the
$96bn (£72.4bn) order as part of his tour of the Middle East.

 

The White House said the deal would support 154,000 jobs in the US each year
of production and marked the largest-ever order of 787 Dreamliners, a
wide-body jet used for longer flights.

 

Qatar Airways and Boeing later confirmed the agreement.

 

It is the second deal involving Boeing to be announced as part of Trump's
trip, marking a win for the company as it tries to rebuild its business
after a series of manufacturing and safety issues.

 

 

The blow-out of a panel on one of its planes in January 2024 forced a
dramatic slowdown in its manufacturing operations and sparked a more than
$10bn loss last year.

 

But shares in the company, which was also hurt by a seven-week strike by
some of its workers, have climbed roughly 20% since January, an indication
of increased optimism about the firm's prospects.

 

Boss Kelly Ortberg told investors in April that the firm's recovery plan was
in "full swing" after the firm delivered a greater-than-expected 130
aircraft in the first three months of the year.

 

Executives said the firm still had a backlog of 5,600 planes, amounting to
more than seven years of production.

 

The Qatar Airways deal, which includes 130 Dreamliners, 30 777-9s and the
option for 50 other planes, was part of more than $240bn in "economic deals"
between the US and Qatar that the White House announced as part of the trip.

 

It would deepen a longstanding relationship between Boeing and the
state-owned airline, which already had 150 Boeing airplanes in its fleet and
more than 130 jets on order, according to Boeing's website.

 

"It's the largest order of jets in the history of Boeing, that's good,"
Trump said at the signing "So that's a record, Kelly, and congratulations to
Boeing. Get those planes out there, get them out there."

 

As part of Trump's trip, Boeing had previously announced it had won a
commitment from Saudia Arabia's Avilease, which leases planes to airlines,
to buy 20 737 MAX planes, with options for 10 more.

 

British Airways owner IAG also said earlier this month that it had placed an
order for 32 787-10 aircraft worth $13bn, a deal Trump previewed as part of
his US-UK trade announcement. Those are set to start being delivered in
2028.

 

The trade truce between the US and China has also helped to ease a challenge
for the firm, whose customers in China had stopped accepting planes as
tariffs escalated.

 

 

Richard Aboulafia, managing director of US-based consultancy firm
Aerodynamic Advisory, said the timing of the Qatar Airways order was
"politically savvy" and a "nice win" for Boeing.

 

However, he added: "It doesn't indicate an accelerated need for aircraft or
that Boeing has won any battle," noting that airlines often make orders for
delivery dates far into the future.

 

Boeing's problems in recent years have stemmed from the difficulty it has
had meeting delivery deadlines - not a fall in demand.

 

"You can add more jets to the backlog - thank you Qatar Airways - but the
problem for some time now, and it will continue to be a problem, is on the
production side," he said. "They need to build more planes."

 

John Grant of aviation analytics firm OAG said the Qatar Airways deal was
"an important statement for Boeing in terms of re-establishing" itself in
the market, but that it was not a surprising development, given the
relationship between the two firms.

 

BBC

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


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

 


 

 


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<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
5557 | +263 71 944 1674

 


 

 

 

 

 

 

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