Major International Business Headlines Brief ::: 19 May 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  19 May 2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Rwanda: Economy Remains Resilient Despite Global Uncertainties - Central
Bank's Nsengiyumva

ü  Nigeria: Govt Urged to Revamp Education Curriculum, Increase Teachers'
Salaries

ü  Nigeria: Starlink Speed in Nigeria Slower Compared to Other African
Countries - Report

ü  Nigeria: Govt Needs $10 Billion to Salvage Power Sector - Minister

ü  Nigeria: Dangote Refinery Gets 146,000 Metric Tonnes of Oil From Global
Market

ü  Nigeria: Recovery Begins in Manufacturing Sector As Revenue, Profits Soar

ü  Nigeria: 75% of Goods From Benin Ports Bound for Nigeria - Reps Speaker

ü  Kenya: Govt On the Spot Over Court Order Defiance in Energy Dispute

ü  Nigeria: Time to Deal With Alarming Shortage of Doctors in Nigeria's
Hospitals

ü  Nigeria: Analysts Caution As Investors Await CBN's Monetary Policy
Decision

ü  Africa: AI-Driven Motion Capture Is Transforming Sports and Exercise
Science

ü  The secretive US factory that lays bare the contradiction in Trump's
America First plan

ü  UK driverless cars unlikely until 2027 - but Uber says it's ready now

ü  New buy now, pay later rules aim to protect shoppers

ü  Defence deals and palace invites: UK and EU haggle before first summit
since Brexit

 


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Rwanda: Economy Remains Resilient Despite Global Uncertainties - Central
Bank's Nsengiyumva

Last week, the National Bank of Rwanda (BNR) decided to keep its benchmark
interest rate unchanged at 6.5 per cent, citing easing inflationary
pressures and a cautious outlook on the current global trade policy shifts.

 

The decision, according to the Central Bank, was reached following the
quarterly Monetary Policy Committee (MPC) and Financial Stability Committee
(FSC) meeting.

 

In an exclusive interview with The New Times, Central Bank Deputy Governor
Justin Nsengiyumva explained that the decision reflects a data-driven
approach informed by both global and domestic indicators.

 

ALSO READ: Central Bank explains decision to hold interest rate steady

 

He pointed out that while inflation remains within the Central Bank's target
range of 2 per cent to 8 per cent, it is approaching the upper band at 6.7
per cent.

 

Nsengiyumva argued that Rwanda's exposure to recent global trade
disruptions, including U.S. tariffs and rising geopolitical tensions,
remains limited.

 

However, indirect effects, particularly through imports from China, are
being closely monitored.

 

He also said that the Central Bank is currently exploring gold as a new
reserve asset to diversify its portfolio and strengthen financial
sovereignty in light of evolving global risks.

 

ALSO READ: Rwanda to add gold to foreign reserves portfolio in next
financial year

 

Below are excerpts;

 

Briefly take us through what informed the Central Bank's decision to hold
the key interest rate at 6.5 per cent.

 

It's a comprehensive process. We begin by analyzing global economic trends.
Currently, global economic growth is projected to slow down, from a
previously forecasted 3.3% to 2.8%. Similarly, sub-Saharan Africa's growth
forecast has been revised from 4% to 3.8%.

 

We also evaluate global price forecasts. As highlighted in our briefing,
energy prices, covering petrol, gas, and oil, are expected to decline. We
monitor international agricultural commodity prices and global inflation
trends as well.

 

On the domestic front, we look at Rwanda's economic outlook. Our forecast
shows inflation is likely to remain at around 6.5% in the coming year. Since
our monetary policy framework is anchored on price stability, this inflation
forecast plays a crucial role in determining our rate decisions.

 

Considering these indicators, moderating inflation, falling energy prices,
and uncertain global economic conditions, including geopolitical tensions
and U.S. tariffs, we concluded that it was prudent to maintain the rate at
6.5%, while we continue to closely monitor future developments.

 

Although inflation is easing, it's still near the upper band of your target
range. How is the Central Bank managing this?

 

Yes, at 6.7%, inflation is on the higher side, especially when compared to
developed countries that target around 2%. However, for our context, we have
set a realistic target range of 2% to 8%.

 

Compared to Sub-Saharan Africa, where inflation is projected at 13%, down
from 18%, Rwanda's position at 6.5% remains relatively strong.

 

Although we're approaching the upper end of our target range, we believe
current inflation levels do not warrant a rate hike.

 

The global environment is still uncertain, and we prefer a cautious
approach, monitoring expectations rather than reacting prematurely.
Stability, at this point, means maintaining the policy rate.

 

With global trade disruptions and U.S. tariffs, how is Rwanda being
affected?

 

So far, the direct impact has been minimal. Rwanda has limited exposure to
the U.S. market.

 

Our exports there are quite small. Even with the new tariffs, only about
0.2% of our total exports are affected, facing a 10% duty, up from zero, but
it's still minimal.

 

How significant is the indirect risk?

 

The indirect risk is more significant. We import around 37% of our goods
from China, which is heavily impacted by U.S. tariffs. If production costs
in China rise, this could translate into higher prices for goods we import,
essentially importing inflation.

 

However, we haven't observed this effect materialize yet. The impact remains
limited and mostly indirect at this stage.

 

Where do you see the greatest external risk coming from?

 

At the moment, the primary risk could come from China due to our high import
volumes from there. While we do source some imports from Europe, we don't
expect that to pose a significant risk.

 

Additionally, about 12% of our trade is within the region. Unless
neighboring countries import inflation through higher-priced goods and
services, we don't foresee any major threat.

 

That's why our inflation forecast remains at 6.5%, stable and within target.

 

Is this the same reassurance you're giving investors in the face of global
uncertainty?

 

Of course! While global disruptions understandably make investors cautious,
the message we're sending is clear: Rwanda's economic fundamentals remain
strong and our financial sector is stable.

 

We're projecting economic growth of 7.1%, which will be supported by
increased investment and innovation. The private sector continues to receive
credit, and liquidity levels in our financial institutions are healthy.

 

So, we're saying to both domestic and international investors that Rwanda
remains a safe and promising place to invest, despite global uncertainty.

 

The Central Bank is considering gold as a reserve asset. What's the
rationale and current status of this initiative?

 

This is a strategic move aimed at diversifying our reserves. Currently, we
hold a mix of assets, including U.S. Treasury bills and central bank bonds.

 

But given increasing geopolitical unpredictability, we want to include gold,
which has proven to be one of the safest reserve assets over time.

 

Over the last 20 years, gold has shown a consistent upward trend in value.
Unlike other assets, it's less vulnerable to political or economic shocks.
It holds intrinsic value.

 

So, the goal is both diversification and safeguarding financial sovereignty.
We may store it domestically or in a secure foreign location.

 

Where will the gold be sourced from?

 

Gold must meet international standards, including a purity level of around
99.9%. We already have a certified refinery in Rwanda, so that's an option.
But we're also open to sourcing from international markets, as long as the
standards are met.

 

How far along is this decision?

 

The board has approved the decision. Now, management is in the
implementation phase. We're building the internal capacity required to
manage gold reserves for the first time and consulting with other central
banks experienced in this area.

 

So, yes, it's happening soon.

 

Parting shot?

 

Rwanda's economy is fundamentally strong. We are growing faster than both
the global and regional averages.

 

Our financial sector is well-capitalized and has adequate liquidity. This
gives us the confidence to continue supporting economic growth while
monitoring global uncertainties.

 

Read the original article on New Times.

 

 

 

 

 

Nigeria: Govt Urged to Revamp Education Curriculum, Increase Teachers'
Salaries

The chairman and founder, Innovative College of Education (ICE), Prof.
Godwin Adebola Oladejobi, has called on the federal government to revamp the
education curriculum, increase teachers' salaries to meet global standards.

 

Oladejobi made the call yesterday in Abuja, during the maiden Convocation
ceremony of graduands of 2022 to 2025.

 

He added that the federal government, as the regulatory body, needs to
improve the school curriculum with innovative technology ideas, as applied
globally, for the development of the education sector in the country.

 

He said, "Things will move forward and be better if the country's education
sector is revived, reformed, and transformed, especially with the
technological innovation made available to us. All the government needs to
do is implement these reforms where necessary for the educational sector to
thrive."

 

"Many trained teachers are diverting to other jobs and moving out of the
country, due to poor salary scheme and lack of developmental resources.
Teachers need to be motivated and compensated to enhance quality education
in the country."

 

Also, the keynote speaker, Prof. Silas D. John, said that the challenge of
teacher education revolves around the daily realities experienced by
teachers and education administrators in the areas of funding and resources.

 

He stressed the challenges of inadequate power supply to schools,
unreliability or nonexistent internet facilities, outdated materials in
libraries, and a shortage of furniture and other educational facilities,
which affect the morale of teachers and hence reduce the quality of
education in the country.

 

"When teacher training institutions are starved of the basic necessities, it
is unrealistic to expect educators who can deliver quality education. A
teacher trained in scarcity is more likely to perpetuate the same cycle in
the classroom," he said.

 

For his part, the Esu Karu and president of Karu Traditional Council, who
doubled as the chairman, Governing Council of Innovative College of
Education (ICE), Pharm. (Dr.) Luka Panya Baba, while commending the school
board and graduates, admonished them to continue with the good work of
putting education at the forefront and imbibing an innovative culture to
impact communities and society at large.

 

Read the original article on Leadership.

 

 

 

 

 

Nigeria: Starlink Speed in Nigeria Slower Compared to Other African
Countries - Report

Starlink Internet speed in Nigeria is slower compared to other African
countries, a report has indicated.

 

Starlink is operated by Starlink Services, LLC, an international
telecommunications provider that is a wholly owned subsidiary of American
aerospace company SpaceX belonging to US Billionaire Elon Musk.

 

The Starlink recently increased its monthly subscription rates for its
services in Nigeria.

 

However, despite its higher subscription rates, a report by broadband
intelligence firm Ookla indicated that Nigeria has emerged among countries
getting slower speeds from the satellite service.

 

The report detailed the speeds of Starlink Internet in Sub-Saharan Africa.

 

According to the report, Starlink's average speed in Nigeria is 49.6 Mbps,
while a country like Botswana enjoys 106.4 Mbps from the same network.

 

Other countries getting lower speeds than Nigeria are Zimbabwe, South Sudan,
Kenya, and Madagascar.

 

A spokesperson for Ookla in an interview with Nairametrics attributed the
slower speed in Nigeria to network congestion.

 

"Nigeria is arguably Starlink's biggest market in Africa, so its network
could be more congested than that in Botswana. The number of users connected
to the same satellite can impact speeds," he said.

 

According to the report, while Botswana topped with 106.4 Mbps speed,
Eswatini came second with 86.2 Mbps, slightly higher than Rwanda's 85.5
Mbps.

 

Burundi recorded 79.5 Mbps on the Starlink network, followed by Sierra Leone
at 77.8 Mbps.

 

Mozambique, Ghana, Malawi, and Zambia are also getting faster speeds than
Nigeria, as the countries recorded 75.7, 75.1, 71.3, and 69.7 Mbps in that
order.

 

Ookla as quoted by Nairametrics explained further that the number of
satellites over a location can also affect signal strength and speed, adding
that more satellites can lead to better coverage and higher speeds.

 

In addition, the firm noted that the quality and positioning of the
satellite dish (terminal) can also influence performance.

 

Despite the disparity in speeds, the report noted that Starlink's speed
outperforms terrestrial internet service providers (ISPs) across African
countries.

 

Read the original article on Daily Trust.

 

 

 

 

Nigeria: Govt Needs $10 Billion to Salvage Power Sector - Minister

The Minister of Power, Chief Adebayo Adelabu has said the Federal Government
needs about 10 billion dollars to salvage the power sector.

 

Speaking at the weekend during the Nigerian Electricity Regulatory
Commission (NERC) retreat in Ikot Ekpene which had the theme: "Addressing
Critical and Emerging Issues in the Nigerian Power Sector", Adelabu said the
FG owes over N200 billion electricity debt.

 

Adelabu, who said the 10 billion dollars amounts to a third of Nigeria's
national budget, wondered if the nation was willing to commit such a huge
sum into the power sector, knowing that other critical sectors like defence,
education and health also needed interventions.

 

He explained that for the expected turnaround in the power sector, foreign
and local investors, as well as the Federal and State Governments must be
willing to make the needed investment to salvage the current situation.

 

"We need about 10 billion dollars, which today is about N63 trillion. N63
trillion is almost a third of our national budget. Can we afford to put that
alone in the power sector?

 

"So there must be some level of investment flow locally by investors and
even foreign investment flows for this sector to be turned around. So those
two things we have achieved under that. So we don't have any excuse.

 

Expanding on the electricity debt burden of the FG, the Chairman, Senate
Committee on Power, Senator Enyinnaya Abaribe said the tariff shortfall
means that every month the government owes N200 billion.

 

Abaribe stated that since 2025 started, no payment has been made, bringing
the debt burden this year to N800 billion, adding that already an existing
N3 trillion debt was owed generating companies.

 

"There's a liquidity crisis in the power sector. The generating companies
are being owed so much, the distribution companies are also being owed so
much. The tariff shortfall that we have means that every month the
government owes N200 Billion of payments.

 

"In other words, for this year, 2025, no payment has been made. In other
words, we're already short by N800 billion. Prior to this time, we had about
N3 trillion debt to the generating company.

 

"And of course, the generating companies are owing the gas suppliers. The
gas suppliers cannot just continue to supply gas indefinitely," he stated.

 

Akwa Ibom State Governor, Pastor Umo Eno stated that though power was the
catalyst for economic growth and development, Nigeria was currently
grappling with the huge challenges existing in the sector.

 

Eno, who was represented by the Deputy Governor, Senator Akon Eyakenyi said
a steady supply of electricity was needed to unlock the potential of Small
and Medium Enterprises in the country, adding that SME's are the engine of
economic growth in most societies.

 

Read the original article on Daily Trust.

 

 

 

 

Nigeria: Dangote Refinery Gets 146,000 Metric Tonnes of Oil From Global
Market

Dangote Petroleum Refinery has taken delivery of 146,000 metric tonnes of
crude oil from the international market, with the vessel, Hercules, still
discharging the cargo.

 

According to checks by Vanguard, another vessel, Sienna, is scheduled to
arrive with 125,000 metric tonnes of crude oil for refining.

 

In a related development, three vessels - Microft, STI Mighty, and PS New
Orleans - have arrived to load 10,000 metric tonnes, 44,000 metric tonnes,
and 44,000 metric tonnes of jet fuel from the 650,000 barrels per day
refinery for the global market.

 

The tanker position also revealed that several vessels are scheduled to
discharge various volumes of imported Premium Motor Spirit (PMS) and diesel
for different operators, including Aiteo, A.A Rano, Obat, Pinnacle, MENJ,
and Rainoil.

 

Olatide Jeremiah, CEO of Petroleum Price NG, confirmed the developments,
stating that the deregulation of the sector has allowed marketers to buy
petroleum products from the domestic and international market, leading to
increased competition, which benefits consumers.

 

Recently, the Nigerian National Petroleum Company Limited (NNPC Ltd.) and
Dangote Petroleum Refinery & Petrochemicals (DPRP) pledged to deepen
collaboration aimed at ensuring Nigeria's energy security and advancing
shared prosperity for Nigerians.

 

Aliko Dangote, President/Chief Executive of Dangote Group, emphasized that
the two organizations are not competitors, but rather partners, stating,
"There is no competition between us... NNPC is part and parcel of our
business, and we are also part of NNPC."

 

Read the original article on Vanguard.

 

 

 

 

 

Nigeria: Recovery Begins in Manufacturing Sector As Revenue, Profits Soar

At the backdrop of perceived daunting macroeconomic challenges, major
operators in the manufacturing sector of the Nigerian economy may have
started witnessing a major turnaround.

 

Following a challenging 2023-2024 characterised by Naira depreciation and
steep inflation some of the country's major fast moving consumer goods
(FMCG) companies and other manufacturing concerns, seem set on a recovery
path, showing either a return to profitability or a sharp narrowing of
losses.

 

The indication of recovery is seen in the first quarter 2025 (Q1'25)
financial results of eight of the major manufacturers listed on the Nigerian
Exchange (NGX).

 

The companies include Cadbury Nigeria Plc, Nestlé Nigeria Plc, Nigerian
Breweries Plc, BUA Foods Plc, Unilever Nigeria Plc, Dangote Sugar Plc,
Champion Breweries Plc and International Breweries Plc.

 

They recorded a combined revenue of N1.6 trillion in Q1'25, representing
51.9 percent increase over the N1.05 trillion recorded in the same period of
2024 (Q1'24).

 

They also recorded a combined net profit of N218.35 billion in Q1'25, which
is a whopping 180 percent increase compared with the net loss of N272.94
billion recorded by the companies in Q1'24.

 

The combined Q1'25 performance suggests that the companies have adjusted to
the challenging economic terrain.

 

Analysts suggest that the sharp reversal in fortunes of the companies was
driven largely by macroeconomic improvements in the form of a relatively
stable exchange rate environment and easing inflation.

 

According to them, the improved performance points to a more stable outlook
for the consumer goods sector, although persistent inflation, interest rate
hikes, and FX volatility remain major risks.

 

Companies' results

 

BUA Foods reported revenue of N442.1 billion in Q1'25, a 24 percent
year-on-year increase compared with N125.3 billion in the previous year,
attributed mainly to expanded sales in its flour and rice divisions.

 

The company's profit after tax also surged 124 percent to N125.3 billion
from N55.9 billion in Q1 2024, despite rising distribution and
administrative costs.

 

Projecting for the rest of the year, Managing Director of BUA Foods, Ayodele
Abioye, said: "With a stabilising economy and growing emphasis on food
security, we are confident that our unique and integrated business model,
strong financial position, and robust execution will continue to enhance our
strategic growth and create lasting value for all stakeholders throughout
2025."

 

In its Q1'25 financial report, Nestlé Nigeria reported a 61 percent rise in
revenue to N294.9 billion from N183.5 billion in Q1'24, while profit after
tax stood at N30.2 billion indicating a remarkable 121 percent compared with
a net loss of N142.7 billion recorded in Q1'24.

 

The recovery was driven by improved sales volume across product lines,
including Maggi, Milo, and Nescafé, and tighter cost controls.

 

"Factoring Nestle's robust pricing power, solid operational execution, and a
more stable macroeconomic environment, our model estimates significant
improvements in key operating margins in 2025E," analysts at Cordros
Research stated.

 

Nigerian Breweries in its Q1'25 report posted a revenue of N383.64 billion,
up by 68.91% from 227.12 billion revenue reported in Q1'24, while profit
after tax rose by 185.53 percent to N44.55 billion from the loss after tax
of N52.089 billion reported in Q1'24, sustaining the return to profitability
that began in the last quarter of 2024.

 

Dangote Sugar recorded a 74 percent increase in revenue to N213.93 billion
in Q1'25 from N122.95 billion in Q1'24. Though the company remained in the
red, but significantly reduced its loss after tax to N23.6 billion in the
period under review compared to N68.9 billion in the corresponding period of
2024, pointing to a possible path to recovery.

 

International Breweries reported N173.6 billion revenue in Q1'25, a 68.2
percent increase on the N103.2 billion posted in Q1'24, while its profit
after tax was N29.38 billion, a substantial 148.7 percent improvement
compared to a loss of N60.39 billion in the same period last year.

 

This is primarily attributed to an increase in revenue and a reduction in
expenses related to foreign exchange losses.

 

Unilever Nigeria posted revenue of N47 billion, a 45 percent increase from
N32.3 billion in Q1'24, while its profit after tax surged 65.2 percent to
N5.55 billion from N3.36 billion in the same period of last year.

 

The turnaround was also cash-driven, as operating cash flows swung from an
outflow of N16.7 billion to an inflow of N9.56 billion, providing liquidity
strength and support for its ongoing restructuring.

 

The revenue of Cadbury Nigeria rose 57 percent to N37.23 billion in Q1'25
from N23.71 billion in Q1'24, while it also posted a net profit of N5.98
billion after losing N7.3 billion in Q1'24.

 

Similarly, Champion Breweries reported revenue of N8.483 billion, up 93.75
percent from N4.38 billion in Q1'24, while profit after tax surged by 219.51
percent to N985 million, reversing a N824 million loss in Q1'24.

 

Reflects our financial restructuring - NB

 

Speaking on the factors responsible for NB's improved performance, Chairman
of the company, Juliet Anammah, said the result reflects the full impact of
financial restructuring and cost-saving initiatives implemented as part of
the company's business recovery plan.

 

"Importantly, net finance expenses dropped by 83 percent - a direct result
of the prudent utilisation of proceeds from the 2024 Rights Issue, which
were used to reduce foreign currency liabilities and optimise the company's
capital structure.

 

This substantial reduction in finance costs has materially strengthened the
bottom line and enhanced our financial resilience," she said.

 

Anammah further stated: "In Q1, we increased volume. So, in terms of top
line revenue, sales volume and value played major roles. Tight management of
raw materials cost also helped us, if we look at it from the cost of goods
sold perspective. In terms of cost efficiencies, we were very tight on cost
management.

 

"We had identified certain assets, and promised ourselves that some of these
assets will be held steady without powering them up. So, reducing those
lines also helps in cost management. All in all, it reflected in our
operating profit for the year.

 

"Last year, the finance line made up of interest rate plus losses as a
result of FX was the biggest line item on the Profit and Loss account
statement.

 

"Usually, the biggest line item on the P&L is operating expenditure. Once
you pass the cost of goods sold, which is the cost of raw materials, plus
converting them using your factory production lines, the next big item on
the P&L is your operating expenditure. You shouldn't have your finance
expenses running into just the losses from devaluation.

 

"In some companies in our sector, it took 17% to 29% of the revenue. Those
were extremely high numbers.

 

"So, the clean-out really helped to drop both interest expenditure as well
as losses coming from FX. What has worked for us as we recover from Q4 last
year going into Q1 this year will be sustained."

 

Traceable to macroeconomic stability - CPPE

 

In his comment, Chief Executive Officer of Centre for the Promotion of
Private Enterprise CPPE, Dr Muda Yusuf, attributed the relative stability in
the foreign exchange (FX) and improvement in the macroeconomic management as
major reasons for the recovery.

 

His words: "The major factor in this change or this improvement is the
exchange rate. What took many of these companies into a loss position last
year was the exchange rate shock. The currency risk crystallized in a very
big way. Because many of these companies have foreign exchange exposure, in
terms of their liabilities, some in terms of the credits or funds that they
have borrowed and all of that. So the depreciation escalated their foreign
exchange liabilities and obligations.

 

"That is what created the shock and took many of those companies into a loss
position. That was also part of the reason some of those multinational
companies had to leave the country because they couldn't just sustain their
businesses in the current foreign exchange regime. But after that shock,
these companies have been recovering gradually. So the improvement in their
financial statements that we are seeing is a reflection of the recovery.

 

"In the last ten months or so, we have seen minimum volatility in the
exchange rate, we have seen some relative stability generally - both in the
exchange rate and also in energy prices. So essentially this is what has
been responsible for the improvement. They have all gotten over the foreign
exchange shock or the currency shock.

 

"And of course they suffered huge losses, and are now on the path of
recovery, although many of them are still posting very high financing costs
because of the high interest rate situation. That is still a burden. If you
look at the books of many of them, finance cost is still extremely very
high. But the exchange rate situation has a bit normalized in a way. So that
for me, I think, is what has happened. And generally because of the
stability in forex, the economic situation at the macro level also seems to
have improved somewhat over the last one year.

 

"As a result of the stability in the forex market and the fact that the CBN
has been able to offset all the outstanding foreign exchange obligations,
which were inherited from the past administration, and also have a much
better capacity now, that is the CBN, to periodically intervene in the
market to ensure stability. So the confidence level too has become somewhat
elevated in the last ten months or so.

 

"So basically this, for me, is the main factor that has been responsible for
this turn around with respect to many of these companies.

 

"Many of them had high foreign exchange exposure in terms of their financing
and in terms of their procurement because they import a whole lot of things.

 

"And some of them also have some debt obligations in foreign currency. So
this is what has changed dynamics for most of them."

 

Backward integration a factor - NACCIMA

 

Also reacting, President of the Nigerian Chamber of Commerce, Industry,
Mines and Agriculture (NACCIMA), Dele Oye, stated: "The improvement could be
traced to backwards integration, local sourcing of raw materials in Nigeria.

 

"Demand for sugar elastic and is also used by almost all the industries as
by-product for manufacturing."

 

Read the original article on Vanguard.

 

 

 

 

Nigeria: 75% of Goods From Benin Ports Bound for Nigeria - Reps Speaker

The Speaker, House of Representatives, Tajudeen Abbas, has said that more
than 75 percent of goods offloaded in the Benin Republic ports are bound for
Nigeria, blaming inefficiencies and high costs at Nigerian ports.

 

Abbas stated this when he received a delegation from the Presidential
Enabling Business Environment Council (PEBEC), according to a statement by
Musa Krishi, his spokesperson.

 

According to him, Nigeria is losing massive revenue to its West African
neighbours due to persistent administrative and regulatory bottlenecks at
the nation's ports and border posts.

 

He stated: "I hear that over 75 percent of goods offloaded in Benin Republic
are actually meant for Nigerian destinations.

 

"Countries are avoiding shipping directly to Nigeria because of our
bureaucracy, delays, and high costs."

 

The Speaker warned that such inefficiencies are hurting both government
revenue and investor confidence, calling for urgent reforms in the maritime
and trade logistics sectors.

 

He cited his recent visit to Morocco, where Nigerian officials were
criticised over the sluggishness in the country's import and export systems.

 

"We cannot continue to allow our economy to bleed while our neighbours
benefit from our inefficiencies. This is a serious economic distortion that
requires immediate policy and legislative response."

 

Abbas assured the PEBEC team that the House would back reforms to simplify
port operations, customs procedures, and trade regulations, including
enforcement of the Financial Reporting Council of Nigeria (FRCN) Act and
provisions of the pending Tax Reform Bills.

 

He also pledged legislative cooperation to ensure Nigeria upholds agreements
with investors operating in free trade zones.

 

Abbas commended PEBEC's efforts, especially its youth-led approach, and
reiterated that the house is committed to tackling bottlenecks stifling
trade, investment, and economic growth.

 

On her part, Director General of PEBEC, Zara Mustapha Audu, said the visit
was on behalf of Vice President Kashim Shettima, who chairs the council.

 

Mustapha presented a letter from Vice President Kashim Shettima, who chairs
the Council, and called for the House's intervention in addressing tensions
between FRCN and the private sector.

 

Read the original article on Vanguard.

 

 

 

 

Kenya: Govt On the Spot Over Court Order Defiance in Energy Dispute

Nairobi — The Ministry of Energy and Petroleum is under pressure to comply
with a High Court ruling in a case filed by Gitson Energy Ltd, following
warnings from legal representatives of potential contempt proceedings.

 

In a letter dated May 15, 2025, W. Thuku and Associates Advocates, acting
for Gitson Energy, accused the Ministry of ignoring court directives issued
in Nairobi High Court.

 

"As per the Honourable Court's directives, we note that the timeline given
by court for compliance has since lapsed," read the letter in part.

 

"We write to inquire whether you intend to comply with the said court orders
or whether we shall have to institute contempt of court proceedings."

 

The legal standoff stems from a ruling issued by Justice Bahati Mwamuye on
April 10, 2025, and a subsequent order dated April 28, 2025.

 

The court had directed the Ministry to furnish information requested by
Gitson Energy in a long-standing dispute over energy project approvals and
government commitments.

 

Failure by the Ministry to respond within three days could prompt legal
action, the letter warns.

 

Read the original article on Capital FM.

 

 

 

 

Nigeria: Time to Deal With Alarming Shortage of Doctors in Nigeria's
Hospitals

The malady, without question, is an existential threat, which requires an
urgent and effective policy roadmap, beyond extant flip-flop measures.

 

Nigeria's broken healthcare system is worsening. There is no better evidence
than the zero response to Kwara State government's advertisement for the
recruitment of doctors. Its hospitals are operating with just 99 doctors.
The tallies for other paramedics are not better either. The crisis is not
limited to the state, but is a national human resource epidemic, which the
states in the North are more afflicted with. Under Atiku Bagudu as governor,
eight years ago, Kebbi State experienced the same shock of "No doctors to
recruit" when it advertised for their services.

 

The malady, without question, is an existential threat, which requires an
urgent and effective policy roadmap, beyond extant flip-flop measures. The
phenomenon is the net effect of decades of the mass exodus of skilled
medical personnel to other parts of the world, especially to Europe and the
Americas, for greener pastures, for which the country has no antidote just
yet.

 

The Executive Secretary, Kwara State Hospitals Management Board, AbdulRaheem
Malik, who revealed this terrifying situation in the state's healthcare
delivery services at its 2025 first quarter media briefing, said the
governor had tried to mitigate the situation with an increase in the
salaries of doctors. This attracted three doctors, who had earlier
emigrated, to return, thus minimally raising the doctors' workforce from 96
to 99 in the state's 45 healthcare facilities. This is lamentable.

 

The daily harrowing experience of patients as a result, is better imagined
than experienced. To reduce the suffering of patients, a software
application has been developed to provide information to them on the number
of doctors available before visits are made, to avoid endless waiting for
attention and the possibility of collapsing, as is often the case in these
circumstances.

 

A similar mind-boggling shortfall of medical doctors and other personnel has
been observed in Jigawa State, where the State Executive Council (SEC) had
to approve the recruitment of 2,124 health workers in December 2024, with
N959.2 million provided for the attendant financial implications. In early
January, resident doctors in the Federal Capital Territory, Abuja, embarked
on a three-day warning strike over unpaid salaries. This category of doctors
in Ondo State also began an indefinite strike in December 2024, over unpaid
hazard allowances and discrepancies in their salaries.

 

In many teaching hospitals across the country, resident doctors are often
embroiled in trade disputes with the Federal Government over poor wages,
unfulfilled welfare promises and debilitating hospital conditions. Sadly,
many of them who have completed their trainings now preoccupy themselves
more with how to exit the country or japa, than seeking jobs here, or
focusing on deploying their expertise when employed.

 

As doctors emigrate, so are nurses, pharmacists, laboratory scientists and
technicians following them. Their destinations are mostly the United
Kingdom, United States, Saudi Arabia, Canada, Australia and the United Arab
Emirates (UAE), among others.

 

The urge to leave Nigeria is not only that of young doctors. Already
established senior consultants are also on the move, having become totally
fed-up with a system that is grossly underfunded and ill-equipped, without
any indication of improving soon. The practice has denuded tertiary medical
institutions of specialist doctors. Inevitably, it has spiked the number of
Nigerians seeking medical attention abroad at great cost. According to the
Minister of Health, Professor Mohammed Pate, this sucks away about $2
billion annually in medical tourism. Not done yet, Mr Pate said 16,000
doctors have left Nigeria in the past seven years. The figure could be
staggeringly more when stretched to the past 20 years or more.

 

The tally of registered doctors, in 2021, as disclosed by the then President
of the Nigerian Medical Association (NMA), Innocent Ujah, was 80,000. But
the current NMA President, Bala Audu, recently said that mass exodus has
left only 30,000 doctors practicing in the country. In 2023, the NMA branch
chairperson for Jigawa State, Aminu Abdullahi, disclosed that the
doctor/resident (patients) ratio was 1/21,000. "The ratio is similar to that
of nurses and other health workers in the state. This is one of the worst
ratios in the country."

 

Undoubtedly, healthcare in the state is anything but deliverable, with this
doctor/patient ratio mismatch, which is nowhere near the global standard of
1/600, as recommended by the World Health Organisation (WHO). Closing this
gap is a tall order in a country where poor salaries conflate with poor
working conditions and ravaging insecurity, to drain the enthusiasm of
health workers to stay in the country.

 

Doctors have become constant targets of kidnapping. One of them, Ganiyat
Popoola, a registrar at the National Eye Centre, Kaduna, was abducted on 27
December, 2023. She remained in her captors' den till September 2024, with
this earlier sparking an indefinite strike action by resident doctors in
that state, in demanding for her release.

 

To change this eerie landscape requires more than the tokenism of pay
increase, which, in real terms, is of no value presently, as inflation has
effectively eroded the value of the naira. The working environment must be
made conducive through conscious efforts at equipping our hospitals and
providing opportunities for in-house training and retraining. Equally
important is the necessity of easing the difficulties in the housemanship
system in our teaching hospitals, which is a crucial source of building up
our critical mass of doctors.

 

Health, as it is often said, is wealth. Where the Nigerian State cannot
provide it, this lays the foundation for failure in other spheres of our
national life - economy, productivity and education. Health, taken together
with education, as as acritical element of human development should be taken
seriously by all levels of government. The production of doctors and other
health personnel begins with the provision of sound education, beginning
from the basic level.

 

Unfortunately, education is not given the priority it deserves, leading to
the collapse of the public primary school system in the country. The
haunting spectacle of dilapidated school blocks, leaking or blown off roofs,
pupils sitting on the bare floor to learn, insanitary environments and
teachers, and pupils arriving late to schools, would greet any inquisitive
visitor. These inhibitive scenarios are replicated across many public
secondary schools.

 

Where a basic science teacher, Musa Abdul, in Yobe State, has not been paid
his N70,000 salary since he was employed in 2022, as PREMIUM TIMES reported
last week, does not prepare the stage for the grooming of brilliant pupils
who would become future medical doctors.

 

A country where budgeted funds for the building/equipping of primary
healthcare centres are looted by some corrupt lawmakers in the National
Assembly, through dubious constituency project contracts, cannot encourage
the retention of doctors within its system. BudgetIT, a non-profit that
tracks government expenditure, has provided copious evidence of the
non-existence of many of such projects in the budget, through its meticulous
search for them, which turned up nothing.

 

The decadent state of University College Hospital (UCH) Ibadan, bogged down
by epileptic electricity supply as a result of its inability to foot a N99
million monthly bill, chronic water shortage, inability to carry out medical
tests for prompt treatment, the cancellation of surgeries, and the forceful
demand of some patients to be discharged in order to seek treatment
elsewhere, coupled with the dearth of vital equipment, have opened the door
for many of its specialist to emigrate. Other teaching hospitals are mired
in similar rot or dysfunction.

 

When a state like Lagos, with its huge finances, underfunds its health
sector, evident in the N46 billion it released to its Ministry of Health in
2024, as against N162 billion provided in the budget for health services,
this speaks volumes about what less endowed states go through; and why the
health sector in the country offers no nectar to medical personnel.

 

Yet, this is a critical challenge that must be addressed. Studying and
possibly toeing the line of how Cuba manages to run its health system
efficiently, despite not being in the wealth league of Western nations, is
an imperative, for lives to be saved in Nigeria. This is what leadership is
about, not mere rhetoric.

 

Read the original article on Premium Times.

 

 

 

Nigeria: Analysts Caution As Investors Await CBN's Monetary Policy Decision

Analysts have warned stock market investors to trade cautiously as
sentiments would depend on the Central Bank of Nigeria, CBN's monetary
policy decision this week.

 

Meanwhile, trading on the Nigerian Exchange Limited, NGX, extended its
positive momentum last week, marking the fourth consecutive week of gains as
investors reacted to the April inflation report and global trade
developments. Specifically, the NGX All-Share Index (ASI) advanced by 0.9%
Week on Week, W/W to close at 109,710.37 points from 108,733.40 points the
previous week.

 

The positive performance was supported by strong performances from Oando
shares , which gained 20.7%, Transcorp shares 6.0%, Trandcorp Hotel shares
6.2%, Nestle shares 10.0%, and Access Holdings shares 10.3%, to push the
Month-to-Date, MtD and Year-to-Date, YtD returns to 3.7% and 6.6%,
respectively.

 

On the W/W, market capitalisation, which shows the total value of stocks on
the Exchange gained over N461 billion to close at N68.800 trillion from
N68.339 the previous week.

 

Meanwhile, trading volume increased by 3.8% W/W, while trading value fell by
12.5% W/W. Generally, sector performances were positive, as the Consumer
Goods Index grew by 4.1%, Insurance Index 2.5%, Banking Index 1.2%, Oil &
Gas 0.7% and Industrial Goods Index 0.1%.

 

Meanwhile, commenting on the inflation figure released last week and the
effect on the market and economy , former President of Chartered Institute
of Stockbrokers, CIS, Olatunde Amolegbe, said: "Investors should trade
cautiously. Well the fact that the inflation rate showed a slight decline is
a welcome relief I guess. But it's clear we do not have a trend in terms of
general direction of the rate yet as it has been fluctuating up and down in
the last four months.

 

"This could be the reason why the Monetary Policy Committee, MPC has not yet
adjusted its stance regarding monetary policy for now. For the month of
April the decline in aggregate rate can be attributed to relatively lower
food prices probably due to harvest season as well as increased inflow of
imported grains. The relatively stable energy price also played a role in
the decline. We will need to see consistent drop in rates over the next few
months before citizens can start heaving a sigh of relief."

 

Reacting on market outlook, analysts at Cordros Research stated: "This week,
market sentiment is likely to hinge on the CBN's monetary policy decision,
with cautious trading expected as investors assess the broader macroeconomic
backdrop. However, we do not rule out sustained bargain-hunting,
particularly in Consumer Goods stocks, as risk-on sentiment gradually
reemerges amid easing global trade tensions."

 

Read the original article on Vanguard.

 

 

 

Africa: AI-Driven Motion Capture Is Transforming Sports and Exercise Science

In sport, the margin between success and failure is often measured in
milliseconds. It could be a cricketer adjusting their foot positioning, a
runner refining their sprint start or a footballer perfecting their passing.

 

This is where motion capture comes in - among the many approaches being used
for athletic performance and movement analysis.

 

Conventional motion capture tracks a person's movements by using sensors or
reflective markers linked to cameras. This provides data that helps sport
scientists analyse how to improve an athlete's performance, personalise
their training programme and prevent possible injury.

 

But for decades, motion capture in sport has been done using cumbersome
suits and complex camera systems. These technologies offer high precision,
but have remained out of reach for many because of their cost, technical
demands and rigid laboratory constraints.

 

As sport evolves, so too must the technology that analyses it. The way we
measure human movement is experiencing a major transformation. Markerless
motion capture (enabled by artificial intelligence, computer vision, depth
sensors and multiple-camera systems) is set to revolutionise sports
performance analysis.

 

As a health and sports scientist with a focus on data, innovation and
technology, I co-authored a study on markerless motion capture in sports and
exercise. We reviewed and compared various motion capture options so that
users can choose what system is best for their needs and budgets.

 

This matters because markerless motion capture provides a practical
alternative that's accessible, scalable and adaptable to real-world
settings. It's a shift that promises to transform how athletes train, how
they move, how injuries are assessed and how coaches refine performance.

 

The problem with traditional motion capture

 

Marker-based motion capture has long been considered the gold standard for
analysing movement. Various systems use optoelectronic (devices that emit or
detect light) tracking. They've provided researchers and coaches with
precise three-dimensional (3D) data on joint angles, movement efficiency and
biomechanical load. But these systems come with challenges.

 

Firstly, the need for reflective markers placed on the body introduces
variability. Even slight misplacements can compromise data accuracy.

 

Secondly, these systems are largely confined to laboratory environments.
While they work well for controlled studies, they can't always capture the
dynamics of real-world sports performance.

 

Thirdly, the cost of such setups, often reaching tens of thousands of
dollars, limits their use to elite teams and well-funded research labs. This
financial barrier places the technology out of reach for grassroots sport,
where talent development is crucial.

 

The rise of markerless motion capture

 

Markerless motion capture, driven by deep learning and computer vision,
allows movement to be tracked directly from video footage, without requiring
physical markers. Models such as OpenPose, TensorFlow Pose Estimate and
MeTRAbs can now identify and analyse human joint positions in 3D, all from a
single video feed.

 

This approach has profound implications. It means that coaches can capture
real-time movement data from training sessions without interrupting the
natural flow of play. Athletes can analyse their technique with nothing more
than a smartphone camera. It opens the door for motion capture to move
beyond the lab and onto the field, the court or the gym floor.

 

Where markerless motion capture works best

 

The ability to track movement in real-world environments makes markerless
motion capture particularly valuable in high-speed and dynamic sports.

 

In football, tracking player movement during passing drills can inform
tactical decisions. In sprinting, coaches can analyse stride length and
ground contact time without disrupting training sessions. In baseball and
cricket, batting mechanics can be assessed without requiring players to wear
cumbersome tracking suits or markers.

 

Beyond performance analysis, the implications for injury management and
rehabilitation are just as compelling.

 

By integrating markerless motion capture into injury rehabilitation
programmes, physiotherapists can monitor movement deficiencies in real time.
A player recovering from an anterior cruciate ligament injury, for example,
can have their gait and knee valgus angles monitored remotely. This reduces
the need for repeated clinic visits.

 

Barriers

 

Despite its potential, markerless motion capture is not without its
challenges. While deep learning models are improving, they still struggle
with occlusion: where body parts become temporarily hidden from view.
Variations in lighting, camera angles and player body types can affect
tracking accuracy too.

 

To improve robustness across diverse sports settings, these issues need
ongoing refinement in pose estimation algorithms. (These are computer vision
techniques used to locate and track key points of the body on a person in a
video.)

 

Read more: Supershoes have transformed competitive distance running, but
they remain controversial

 

Another key limitation is validation. Traditional motion capture systems
have been extensively tested for accuracy, but markerless models are still
undergoing further validation in sport-specific contexts.

 

Ensuring consistency and reliability will be crucial in convincing elite
teams to transition away from marker-based setups.

 

A future without markers?

 

The question remains: will markerless motion capture completely disrupt and
replace traditional systems? The reality is likely to be more nuanced.

 

While marker-based motion capture will retain its place in highly controlled
research settings, markerless alternatives will dominate practical,
field-based applications. The accessibility, ease of use and real-time
capabilities of markerless systems make them a game-changer.

 

Read more: VAR and peace? Why tech-assisted refereeing won't do away with
disputed decisions at the World Cup

 

As AI models become more sophisticated and sensor technology advances, the
precision of markerless systems will continue to improve. The future of
motion capture lies not in replacing one method with another, but in
integrating multiple approaches to create a seamless, scalable and accurate
framework for movement analysis.

 

It's no longer a question of whether markerless motion capture will take
over, but when. And as the technology matures, the benefits for coaches,
athletes and scientists alike will only continue to grow. It's set to play
an integral role in shaping the next generation of athletic performance and
movement analysis.

 

Habib Noorbhai, Professor (Health & Sports Science), University of
Johannesburg

 

This article is republished from The Conversation Africa under a Creative
Commons license. Read the original article.

 

 

 

 

The secretive US factory that lays bare the contradiction in Trump's America
First plan

Among the cactuses in the desert of Arizona, just outside Phoenix, an
extraordinary collection of buildings is emerging that will shape the future
of the global economy and the world.

 

The hum of further construction is creating not just a factory for the
world's most advanced semiconductors. Eventually, it will mass produce the
most advanced chips in the world. This work is being done in the US for the
first time, with the Taiwanese company behind it pledging to spend billions
more here in a move aimed at heading off the threat of tariffs on imported
chips.

 

It is, in my view, the most important factory in the world, and it's being
built by a company you may have not have heard of: TSMC, Taiwan
Semiconductor Manufacturing Company. It makes 90% of the world's advanced
semiconductors. Until now they were all made on the island of Taiwan, which
is 100 miles east the Chinese mainland. The Apple chip in your iPhone, the
Nvidia chips powering your ChatGPT queries, the chips in your laptop or
computer network, all are made by TSMC.

 

Its Arizona facility "Fab 21" is closely guarded. Blank paper or personal
devices are not allowed in case designs are leaked. It houses some of the
most important intellectual property in the world, and the process to make
these chips is one of the most complicated and intensive in global
manufacturing.

 

 

A factory building, next to solar panels, in the middle of the desert.

TSMC's Arizona factory is closely guarded

They're hugely protective of the secrets that lie within. Important
customers, such as Apple and Nvidia, trust this company to safeguard their
designs for future products.

 

But after months of asking, TSMC let the BBC in to look at the partial
transfer of what some argue is the most critical, expensive, complex and
important manufacturing in the world.

 

 

The poster child for Trump's policy

President Trump certainly seems to think so. He often mentions the factory
in passing. "TSMC is the biggest there is," he has said. "We gradually lost
the chip business, and now it's almost exclusively in Taiwan. They stole it
from us." This is one of the US President's regular refrains.

 

TSMC's recent decision to expand its investments in the US by a further
$100bn (£75bn) is something Trump attributes to his threats of tariffs on
Taiwan and on the global semiconductor business.

 

The expansion of the Arizona facility, which was announced in March is, he
believes, the poster child for his economic policies - in particular the
encouragement of foreign companies to relocate factories to the US to avoid
hefty tariffs.

 

Getty Donald Trump standing in front of a podiumGetty

Trump heralded TSMC's decision to invest in the US as proof of success for
his tariff policy

 

China is also watching developments carefully. Taiwan's chip-making prowess
has been part of what its government has called its "Silicon Shield",
against a much-feared invasion. While the original strategy was to make
Taiwan indispensable in this area of critical technology, the pandemic
supply chain difficulties changed the calculus because relying on a single
country seemed like a greater risk.

 

China claims the self-ruled Taiwan as its territory but Taiwan sees itself
as distinct from the Chinese mainland.

 

So, many currents of the world economy, frontier technology and geopolitics
flow through this one site and within it lies the essential contradiction of
Trump's economic and diplomatic policy.

 

He sees this plant as the exemplar of America First, and the preservation of
economic and military superiority over China. Yet the manufacture of these
modern miniaturised miracles at the frontier of physics and chemistry
inherently relies on a combination of the very best technologies from around
the world.

 

The cleanest environment on Earth

Greg Jackson, one of the facilities managers, takes me around in a golf
buggy. The factories are almost a carbon copy of the TSMC spaces in Taiwan,
where he trained. "I would say these facilities are probably some of the
most advanced and complicated in the world," he says.

 

"It's quite the dichotomy. You've got really, really small chips with really
small structures, and it takes this massive facility with all the
infrastructure to be able to make them... Just the sheer complexity, the
amount of systems that it takes, is staggering."

 

Inside the "Gowning Building", workers dress in protective clothing before
crossing a bridge that is supposed to create the cleanest environment on
Earth, in order to protect the production of these extraordinary microscopic
transistors that create the microchips underpinning everything.

 

Konstantinos Ninios, an engineer, shows me some of the very first
productions from TSMC Arizona: a silicon wafer with what is known as "4
nanometre chips".

 

 

"This is the most advanced wafer in the US right now," he explains. "[It]
contains about 10 to 14 trillion transistors... The whole process is 3,000
to 4,000 steps."

 

If you could somehow shrink your body to the same scale and get inside the
wafer, he says that the many different layers would look like very tall
streets and skyscrapers.

 

 

Manufacturing manipulation of atoms

TSMC was founded at the behest of the Taiwanese government in 1987, when
chip executive Morris Chang was directed to start the business. The model
was to become a dedicated foundry for microchips - manufacturing other
companies' designs. It became wildly successful.

 

Driving the advancement of the technology is the miniaturisation of the
smallest feature on chips. Their size is measured these days in billionths
of a metre or nanometres. This progress has enabled mobile phones to become
smartphones, and is now setting the pace for the mass deployment of
artificial intelligence.

 

It requires incredible complexity and expense through the use of "extreme
ultraviolet (UV) light". This is used to etch the intricate building blocks
of our modern existence in a process called "lithography".-BBC

 

 

 

 

UK driverless cars unlikely until 2027 - but Uber says it's ready now

Uber has said it is "ready to go" now with driverless taxis in the UK - but
the government has put back the date it expects to approve fully
self-driving vehicles.

 

The previous administration said fully autonomous cars were "set to be on
roads by 2026", but the new government says it is now more likely to happen
in the second half of 2027.

 

While limited self-driving technology is already permitted on UK roads, a
human driver must be at the wheel and responsible for the vehicle, even if
automated technology is being used.

 

With some companies trialling more advanced tech on British streets, I took
an automated car ride across central London in a car using a system
developed by UK AI firm Wayve.

 

 

"We're ready to launch robotaxis in the UK as soon as the regulatory
environment is ready for us," said Andrew Macdonald, senior vice president
of mobility at Uber, who joined me for the ride.

 

The ride-hailing firm is working with 18 automated car tech companies
including Wayve.

 

It is one of several companies which already offers robotaxis in the US.

 

They are also on the roads in China, the UAE and Singapore.

 

But Mr Macdonald disagreed that the UK was behind the rest of the world,
arguing that the US and China were ahead largely because that is where the
majority of the tech had been developed.

 

"We are working quickly and will implement self-driving vehicle legislation
in the second half of 2027", the Department for Transport said in a
statement.

 

"We are also exploring options for short-term trials and pilots to create
the right conditions for a thriving self-driving sector," it added.

 

'Hands-off' experience

In the US, Mr Macdonald said robotaxis typically operate for 20 hours per
day, seven days per week.

 

Even though there is no driver to pay, Uber says the fare is currently the
same as a ride with a human behind the wheel.

 

The option to take one appears on the app if one is available, and customers
can opt in or out.

 

That's partly because, aside from the regulatory environment, another
potential barrier to their uptake is the public's reticence about travelling
in a self-driving vehicle.

 

A poll by YouGov in 2024 suggested that 37% of Brits would feel "very
unsafe" travelling in a car without a driver.

 

But Mr Macdonald insisted new customers' initial nervousness was short-lived
and the experience soon "becomes the new normal".

 

That was certainly my experience during our ride.

 

 

The steering wheel of the Ford Mach-E is shown turning to the right. A
safety operator is in the driving seat, with both hands hovering in the air
away from the wheel as it turns.

Future pilots of self-driving cars in the UK will allow for an entirely
"hands-free" - and human-free - experience behind the wheel

I was in a Ford Mach-e, fitted with Wayve's autonomous driving sensors and
software.

 

It uses a radar and seven cameras. In the boot there's is a computer which
is running the AI-driven software that processes all that sensor data in
real time and controls the car's responses.

 

The automated tech handled every scenario without a hitch, including
pedestrians in the road, parked cars, heavy traffic, temporary traffic
lights and delivery bikes.

 

George, our safety driver, did not touch the controls once and a big red
button, which shuts off the automated system immediately, was not deployed.

 

If anything the robo-ride was a far more patient city driver than I am – and
has no voice, making it a lot less chatty.

 

Whether autonomous vehicles are more or less safe than human-driven ones is
still being investigated.

 

But numerous studies suggest that automated vehicles are less accident-prone
than human drivers, based on US data.

 

But there have been a number of incidents involving robotaxis in the
countries where they operate, ranging from road accidents to passengers
being locked in.

 

In January, a man in Arizona, in the US, documented how his robotaxi drove
round in circles in an airport carpark, with him trapped in the vehicle,
unable to stop the car or get help.

 

General Motors paused its driverless taxi service Cruise in San Francisco in
2023 because of safety concerns.

 

"The reality is that one accident is too many," said Uber's Mr Macdonald.

 

"That said, with EV (electric vehicles), human drivers
 we operate in the
real world and stuff happens."

 

In the UK there are also practical questions around insurance, ownership and
liability when a self-driving vehicle is involved in an accident. Mr
Macdonald said they were all still being worked out.

 

 

Andrew MacDonald and Zoe Kleinman in the back seat of the taxi as it drives
around London

Andrew Macdonald, of Uber, and the BBC's Zoe Kleinman in the robotaxi

Tom Leggett, vehicle technology manager at Thatcham Research - an
independent car safety centre - said robotaxis would have to be "safety-led"
in the UK.

 

"Secondly, they will have to make sure the data is available to those who
need it – insurers and those investigating incidents when they occur."

 

The government says self-driving vehicles have the potential "to build an
industry worth £42bn and provide 38,000 jobs by 2035."

 

But of course they are source of concern for people who earn a living
driving.

 

Andy Prendergast, GMB national secretary, said the "significant social
implications" driverless cars and taxis could have - such as potential less
work or unemployment - for workers and the public must be fully considered.

 

Uber's Mr Macdonald meanwhile believes automated vehicles will transform the
way many people travel in the near future.

 

"I've got young kids," he said.

 

"Do I think my daughters will necessarily get their drivers licences when
they turn 16?" [the legal age in his home country, Canada].

 

"No – I think the world is changing a lot."-BBC

 

 

 

 

 

 

 

New buy now, pay later rules aim to protect shoppers

The government has announced new rules aiming to protect shoppers using buy
now, pay later services, saying it wants to end the "wild west" of
unregulated borrowing.

 

Under the legislation, lenders will have to carry out affordability checks
to stop people taking on too much debt and shoppers will have faster access
to refunds.

 

The use of buy now, pay later (BNPL) has surged recently, with 11 million
people in the UK estimated to have used it in the last year, but there have
been fears some are spending more than they can afford.

 

Consumer groups welcomed the move and said many users did not realise they
were taking on debt they might struggle to repay.

 

 

Under BNPL, rather than paying the full amount of a purchase in one go,
shoppers can spread payments into smaller amounts over a short period of
time, usually only weeks or months.

 

For some people this can be a convenient way of spreading the cost of
shopping, but there are fears some consumers could be taking on too much
debt.

 

BNPL products are currently unregulated and Citizens Advice said the new
measures were a "crucial step" towards better protection for shoppers.

 

"For too long, people have been exposed to unaffordable debt from a BNPL
sector that has operated in a regulatory grey area," said Tom MacInnes,
director of policy at Citizens Advice.

 

"For some, this has had dire consequences. Many people are struggling to
repay credit they can't afford, falling behind on essential bills and often
needing emergency support, like food bank vouchers."

 

Measures to tighten oversight of the sector have been discussed for years,
and the previous government unveiled plans in 2023.

 

Under the new legislation, which is due to take effect next year, the
government says BNPL firms will have to follow consistent standards so
shoppers know what they are signing up to, whether they can afford the
purchase and how to get help if needed.

 

It says this means "upfront" checks on affordability, faster access to
refunds, and the right to complain to the Financial Ombudsman.

 

Emma Reynolds, economic secretary to the Treasury, said BNPL had
"transformed shopping for millions", but had left consumers exposed and
operated as a "wild west".

 

"These new rules will protect shoppers from debt traps and give the sector
the certainty it needs to invest, grow, and create jobs," she added.

 

Last week, a comprehensive survey by the UK financial regulator, the
Financial Conduct Authority (FCA), found the number using BNPL had "risen
significantly", climbing by two million in the past three years.

 

It said 40% of lone parents and 35% of women aged between 25 and 34 use BNPL
products.

 

Lisa Webb, consumer law expert at the Which? consumer association, said its
research indicated "many users do not realise they are taking on debt or
consider the prospect of missing payments".

 

A spokesman for Klarna, one of the biggest suppliers of BNPL services in the
UK, said the company had supported regulation for the sector since 2020.

 

"It's good to see progress on regulation, and we look forward to working
with the FCA on rules to protect consumers and encourage innovation," he
said.

 

Another major BNPL provider, Clearpay, said it would "support the FCA to
deliver fit-for-purpose regulation that ensures consumer protection,
provides much-needed innovation in consumer credit, and supports the UK's
thriving FinTech sector".-bbc

 

 

 

 

 

Defence deals and palace invites: UK and EU haggle before first summit since
Brexit

"Don't expect miracles. But do know - everyone wants this to work."

 

On Monday in London the EU and UK hold their first bilateral summit since
Brexit. Symbolically, this is a big moment.

 

Officials and analysts I speak to, on and off the record, like the
individual I just quoted, are quick to point out difficulties that exist
between the two sides.

 

But all acknowledge the bilateral bitterness provoked by Brexit is no more.
It's been eviscerated by the gravity of global events.

 

Concerns about Russia and China, the war in Ukraine, the shock of the US
under Donald Trump no longer prioritising European defence, plus a growing
sense of voter insecurity is propelling the two powers to work closer
together.

 

 

European leaders pressure Russia over 30-day Ukraine ceasefire

Trump has blown up the world order - and left Europe's leaders scrabbling

"Failure to do so, in the current international context, would not be a good
look," says Anand Menon, director of the think tank UK in a Changing Europe.

 

Most European countries realise that, he adds: "Even the French."

 

More than most EU countries, France has been playing hardball in pre-summit
negotiations.

 

Is it a coincidence that as talks went to the wire before Monday's summit,
the UK announced that France's president has been invited for his first
state visit?

 

King Charles and Queen Camilla will host Emmanuel Macron and his wife at
Windsor Castle in July. A UK attempt to butter up the French leader,
perhaps?

 

"It'll be interesting to see if they can agree common language [for a summit
agreement]," says Georgina Wright, European policy expert at the Institut
Montaigne.

 

"Everyone in the EU wants closer relations with the UK right now and France
doesn't want to be seen as the one country blocking closer UK-EU
cooperation. But that does not mean that Paris is willing to give up on core
interests."

 

Interests like fishing rights in UK waters and bidding for EU defence
contracts.

 

 

The Telegraph/PA King Charles and French President Emmanuel Macron talk and
walk together. Behind and to the side of them, Queen Camilla and Brigitte
Macron do the same. Behind them is the British Normandy Memorial in
Ver-sur-Mer, France.The Telegraph/PA

French President Emmanuel Macron and his wife Brigitte have been invited to
the UK for a state visit

Negotiating - or to be more accurate - haggling over the "meat" of the
summit will, I'm told, continue till the last moment.

 

On the day itself, we can expect three separate announcements:

 

A joint declaration that addresses the worrying geopolitical situation and
emphasises UK-EU shared foreign policy priorities - such as supporting
Ukraine, keeping up pressure on Russia, and ending civilian suffering in
Gaza

An EU-UK security and defence pact

A package of measures targeted at removing some trade barriers between the
EU and UK that have come about because of Brexit

 

Closer economic ties to Europe

These trade measures are the "reset" of relations with the EU that UK Prime
Minister Sir Keir Starmer has promised since his party won a general
election last summer.

 

They are far from an economic gamechanger for the UK, though. Hardly what
you'd call ambitious.

 

Destroying all trade barriers with the EU is impossible if the Labour
government keeps to its own "red lines" of not rejoining the bloc's customs
union or single market.

 

Despite promising to prioritise UK economic growth, and polls suggesting the
majority of Britons want to do more trade with the EU, Labour will feel
hemmed in by the increasingly popular, Eurosceptic Reform Party.

 

It performed well in recent local elections in the UK.

 

While some in Labour (quietly) admit they are tempted by a customs union
with the EU to boost growth, any economic benefits would likely not be
apparent to voters before the next UK election.

 

Party members fear they would risk being punished at the polls, amidst
accusations by the opposition Conservatives and Reform that the government
would have betrayed Brexit.

 

These concerns make the Starmer government "more cautious, less bold", says
Mr Menon.

 

So what will be agreed at the summit?

The UK is taking a sector-by-sector approach to try to reduce costly trade
barriers with the EU.

 

Many EU-UK negotiating hours have gone into agreeing a plant and animal
health deal, known as an SPS agreement.

 

This will facilitate the export and import of meat and plant products
between the EU and UK and help reduce post-Brexit trade complications
between Northern Ireland and Britain.

 

In exchange, the EU insists the UK must agree to following any new SPS rules
introduced in the future and accept a role for the European Court of Justice
in policing the agreement.

 

Those conditions will likely be unpopular with ardent Brexit supporters.

 

They might also put backs up in Washington and complicate the UK doing a
wider future deal on agriculture with the US, as the UK would be tied to
stringent EU standards.

 

 

PA A fishing trawler heading out to sea. Homes can be seen dotted along the
shoreline in the distance.PA

A new fishing agreement for UK waters is needed as the current one expires
next year

But the Labour government knows public opinion polls suggest most people in
the UK prioritise trade with the EU over the US.

 

Currently the EU counts for 41% of UK exports; the US for 21%.

 

The UK government will probably insist the SPS agreement is good for the
British economy. Though animal and plant exports and imports are, in fact, a
small part of overall GDP.

 

In reality "growth is a bit of a red herring here", says Mr Menon.

 

On the EU side, the French, backed by other fishing nations like the
Netherlands and Denmark, have taken a tough stance in these talks - refusing
to sign up unless the UK agrees to long-term EU fishing rights in UK waters.

 

The current post-Brexit fishing agreement expires next year.

 

 

Free-er movement for some

The reset we'll hear about at Monday's summit will also include a "mobility"
section.

 

Starmer will get his ask, for the EU to recognise UK professional
qualifications, to encourage cross-border business.

 

There will also be a reduction in visa restrictions for UK musicians
travelling and performing in the EU.

 

In exchange, the EU - and Germany, most passionately - wants a youth
mobility scheme, allowing young EU citizens to travel, study, and even work
in the UK.

 

The UK has similar schemes with Canada, Australia, South Korea and Japan,
amongst others. But this has been tricky to agree.

 

Reducing migration figures is a number one priority for the Labour
government.

 

It's a hot-button issue and the UK Home Office will seek to toughen
conditions and limit EU numbers.-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
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any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


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