Major International Business Headlines Brief ::: 23 May 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  23 May 2025 

 


                                                                                  

 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Nigeria: Govt Launches Campaign to Change Nigerians Mindset About Credit Facility

ü  Africa: Empowering Women and Youth in Agriculture - a Success Story

ü  Rwanda: How DNA Tech Is Revealing Akagera's Hidden Wildlife

ü  Africa Must Leverage Its Wealth or Remain Trapped in Poverty

ü  Africa Day - Why Data Sovereignty is Africa's Next Liberation Struggle

ü  West Africa: Will Ecowas Survive Until 2030?

ü  West Africa: Chocolate and Rice Among Key EU Imports Facing Climate Threats

ü  Africa: How Computational Biology Is Zoning in On the Future of Agriculture

ü  Nigeria: Despite Evidence, Akwa Ibom Govt Denies Receiving N653.6 Billion Revenue

ü  Nigeria: Dangote Refinery Announces Reduction in Petrol Pump Price

ü  Nigeria: 36,359 Nigerian Pilgrims Transported As Airlift Operation Ends May 30 - NAHCON

ü  Rwanda to Spend Rwf12bn On Digital IDs Next Fiscal Year

ü  US House passes Trump's 'big, beautiful' tax and spending bill

ü  The town divided by Bitcoin

ü  US Treasury confirms the end of the penny

 


 <mailto:info at bulls.co.zw> 

 


 

Nigeria: Govt Launches Campaign to Change Nigerians Mindset About Credit Facility

Kano — The Federal Government through Nigerian Consumer Credit Corporation, CREDICORP, has kick started a cultural reorientation campaign in Kano to sensitize Nigerians on window opportunities to collect credits in order to move them out of poverty circle and better their lives.

 

Speaking at the event, the Managing Director/Chief Executive Officer, Uzoma Nwagba, said the campaign is to change the mindset and perceptions of Nigerians against collecting credits.

 

Nwagba said Nigerians should not see credits as bad or trap but as a tool for growth.

 

According to him, "CREDICORP, established under the Renewed Hope Agenda of President Bola Ahmed Tinubu, is a national institution working to democratize access to consumer credit for all hardworking Nigerians. Through its mandate, the Corporation enables Nigerians to acquire essential goods and services--such as locally assembled vehicles, solar solutions, and home improvement products--on credit, rather than relying on limited cash-based transactions.

 

"This campaign represents the third pillar of CREDICORP's national strategy Cultural Reorientation which complements the Corporation's other pillars, Infrastructure and Capital. In the last year this has already been demonstrated through the rollout of impactful initiatives such as Project S.C.A.L.E (Securing Consumer Access for Local Enterprises), which channels consumer credit toward the purchase of goods and services from local vendors and manufacturers to strengthen Nigeria's domestic industries; the C.A.L.M. Fund (Credit Access for Light and Mobility), which provides credit for CNG vehicle conversions and solar home systems; and YouthCred, a national programme offering responsible, affordable credit to young Nigerians at the very start of their economic lives beginning with 100,000 NYSC members.

 

"Cultural Reorientation is CREDICORP's effort to shift long-standing perceptions around credit--helping Nigerians see it not as a trap, but as a tool for growth. The programme reorients the public through a mix of community training sessions, digital sensitization campaigns, and on-ground activation events designed to promote responsible borrowing and financial literacy. It also engages financial institutions, encouraging a transition from traditional collateral-heavy models to more inclusive credit assessment methods that better reflect the realities of everyday Nigerians," Nwagba said.

 

The event was attended by Kano State government representative, leaders of market associations, trade cooperatives, and participating Financial Institutions.

 

Participants at the activation were sensitized on: What consumer credit is and how it works, including both interest-based and non-interest financing options. The difference between responsible credit use and harmful debt. The long-term value of building and maintaining a verifiable credit history. How CREDICORP partners with financial institutions both traditional and non-interest providers to expand access to affordable and culturally appropriate credit solutions.

 

Read the original article on Vanguard.

 

 

 

Africa: Empowering Women and Youth in Agriculture - a Success Story

In the heart of Zambia, Sylvia Chisangano Horemans is empowering women and small-scale farmers through her expanding seed business, Kamano Seed. Thanks to the World Bank-supported Zambia Agribusiness and Trade Project (ZATP) Kamano seed has seen remarkable growth, and Sylvia has increased the number of farmers she is helping from 800 to 2,900.

 

Sylvia's journey began with a passion for improving the lives of women. She has done so by supporting them in crop production and teaching them how to cook diverse types of nutritious meals from their harvest.

 

"I believe that apart from teaching life skills to women, teaching them about nutrition is also cardinal as this improves the health of the families and leads to increased productivity," said Sylvia. Her dedication to empowering women is evident in Kamano Seed's workforce, where the majority of employees are female.

 

Her company buys crops such as maize, beans, groundnuts, and soybeans from local farmers in communities and processes them into seeds. Kamano Seed also trains farmers about climate-smart agriculture to help ensure sustainable farming practices.

 

The funding from the World Bank has enabled Kamano Seed to make strides in infrastructure development to help the company grow and be able to maintain high-quality seeds. They have been able to install one of the largest processing machines in Zambia and have increased the number of female farmers and youth involved in seed production. Now 60% of the 2,900 farmers that work with Kamano seeds are youth. Benefits from the project also include land acquisition, building warehouses, offices, purchasing two vehicles, and acquiring materials for constructing a cold room which will preserve seed viability and enhance long-term profitability.

 

ZATP, a project of the Government of the Republic of Zambia implemented through the Ministry of Commerce Trade and Industry (MCTI) with support from the World Bank, seeks to boost growth-oriented agribusiness SMEs by investing in their technical and productive capabilities and business management skills. Sylvia is a beneficiary of this support, which has enabled her to link into large buyers and grow her business into a sustainable venture that is increasing agricultural production and trade and is also creating jobs.

 

Kamano Seed has successfully extended its business operations into the Democratic Republic of Congo and Angola, gaining regional recognition, and Sylvia hopes to go even further.

 

Read the original article on World Bank.

 

 

 

Rwanda: How DNA Tech Is Revealing Akagera's Hidden Wildlife

Scientists and conservationists are harnessing advanced DNA technology, known as environmental DNA (eDNA), to deepen understanding of the wildlife and ecosystems within Akagera National Park--without the need for direct animal observation or contact.

 

This innovative approach aims to enhance conservation efforts across Rwanda's renowned park.

 

ALSO READ: A story of extinction and return of lions, rhinos in Akagera Park

 

eDNA consists of tiny fragments of genetic material animals leave behind in their environment--such as feces, urine, saliva, or skin cells. These traces can be collected from soil, water, or fecal samples, providing a non-invasive means of studying biodiversity.

 

In Akagera, eDNA is being used to identify which species inhabit different park regions, understand species interactions, detect early signs of environmental stress, and generate comprehensive ecological maps of the entire park ecosystem.

 

ALSO READ: Akagera Park records 25% revenue growth

 

Park staff and scientists gather environmental samples and analyze the DNA in laboratories. The results reveal which species are present, their relationships, and potential interactions--such as predator-prey dynamics or habitat sharing.

 

This data enables the construction of ecological "networks," visual representations of how different organisms are connected within the ecosystem.

 

ALSO READ: Increase in Rwanda's lion population attributed to bold conservation efforts

 

This technology is pivotal in assessing biodiversity and ecosystem integrity, helping establish detailed inventories from microbes and plants to large mammals. Its less invasive nature minimizes disturbance to wildlife and provides a richer understanding of ecosystem functions.

 

These insights are vital for evaluating ecosystem health, identifying vulnerabilities, and informing more holistic conservation strategies that transcend simple species counts.

 

ALSO READ: Lion population in Akagera grows to 58

 

Jean-Paul Karinganire, Funding and Reporting Manager at Akagera Park, emphasizes the importance: "For us, MENA isn't just about cutting-edge science--it's about conserving one of the world's most remarkable natural treasures. By understanding these intricate connections, we are able to make smarter decisions to protect Rwanda's biodiversity for future generations."

 

The technology offers a clearer, more detailed picture of the park's health and allows early identification of potential problems, preventing animal losses and habitat degradation.

 

This initiative, called Molecular Ecological Network Analysis (MENA), is supported by African Parks--the organisation managing Akagera--and aims to explore the complex relationships between species through eDNA analysis.

 

Jordana Meyer Morgan, the eDNA Special Project Manager at African Parks, explains: "Fragments of DNA, shed constantly by animals in their environment, are captured from soil, water, and fecal samples. These DNA barcodes--much like grocery store barcodes--reveal the rich diversity of life in places like Akagera, including elusive species that are difficult to observe directly."

 

She highlights that beyond species detection, the technology constructs "ecological networks," which visualize the hidden structure and dynamics within ecosystems.

 

Comparing networks from healthy and stressed environments helps conservationists identify disruptions and develop targeted restoration strategies.

 

She adds: "Understanding these invisible threads of ecological relationships is crucial for maintaining healthy ecosystems. With eDNA analysis, we begin to unravel the web of life, from microbes to megafauna--revealing how interconnected and dependent everything in the ecosystem truly is."

 

Over 7,775 samples collected across five African parks

 

Over 160 park staff, volunteers, and local researchers have been trained in eDNA sampling and analysis techniques. In the past year alone, they have collected more than 7,775 fecal, soil, and water samples from diverse habitats within five parks across five countries.

 

These parks include Akagera in Rwanda, Iona National Park in Angola, Odzala-Kokoua in the Republic of Congo, Zakouma in Chad, and Kafue in Zambia.

 

Each sample contains genetic information encapsulating the species that have passed through, providing vital data to refine conservation strategies and bolster long-term protection of Africa's unique biodiversity.

 

By integrating science with management, this initiative aims to empower rangers, ecologists, and policymakers to actively monitor and safeguard wildlife for generations to come. Through unprecedented insights into species interactions and ecosystem dynamics, scientists are paving the way for smarter, more effective conservation practices--ensuring that the web of life in Akagera and beyond remains resilient and vibrant.

 

Read the original article on New Times.

 

 

 

Africa Must Leverage Its Wealth or Remain Trapped in Poverty

Frica Is Rich — but remains poor. Beneath its soil lie vast mineral reserves--gold, diamonds, cobalt, lithium--worth trillions and essential to modern industries and technologies. Above ground, ecological treasures like Rwanda's Nyungwe Forest and Volcanoes National Park offer immense environmental and economic value.

 

Yet, many African nations--resource-rich as they are--still cling to outdated financial systems, failing to embrace modern tools like Safe Keeping Receipts or asset-backed financing.

 

The result? A continent full of potential, continuously exploited and left behind.

 

African leaders must urgently rethink how to use the continent's wealth. Rwanda is making strides with smart governance, but the broader success of the continent depends on all nations stepping up.

 

For too long, African countries have operated within a colonial-style economic framework--one that treats natural resources as cheap exports, not as strategic assets to fund sustainable development. The same system persists today, only rebranded.

 

The Democratic Republic of Congo (DRC) exports raw cobalt, then imports expensive batteries made from that very mineral. Nigeria and Angola ship out crude oil only to import refined petroleum at inflated costs. Africa's forests store carbon for the planet, yet the continent must plead for climate finance from those who benefit most.

 

This flawed model has led to underdevelopment, deepening debt, and lost opportunities--while others thrive off Africa's wealth.

 

The solution lies in financial innovation, yet most African governments are slow to adopt it. Global markets now trade carbon credits and water rights, but many African countries still depend on International Monetary Fund (IMF) loans with punishing conditions.

 

Foreign direct investment is often celebrated--despite stripping Africa of its minerals--while we neglect to develop homegrown financial instruments that retain wealth on the continent.

 

Even more concerning, Africa is welcoming a new wave of foreign players who, despite their different flags, operate under the same extractive playbook.

 

Rwanda offers both inspiration and a cautionary tale. Its mountain gorillas generate millions in tourism, but conservation bonds remain untapped. Nyungwe's carbon storage is globally valuable, yet unleveraged in climate markets. Rwandan specialty coffee commands high prices, but unlike Ghana with cocoa, Rwanda has yet to build financing tools tied to this product.

 

Despite its track record in governance and security, Rwanda's conservative financial approach risks missing key opportunities. Meanwhile, new foreign partners move in--serving their own interests first.

 

The DR Congo presents a starker contrast. With an estimated $24 trillion in mineral wealth--home to 70% of the world's cobalt--the country should be a self-funded development powerhouse. Instead, it relies heavily on aid while its resources fuel the global green energy transition.

 

Chinese firms dominate the mining sector. Similar dynamics are found across the continent: Zambia's copper, Guinea's bauxite, South Africa's platinum--all extracted and exported raw, enriching others while African economies lag behind.

 

It's especially frustrating because the tools for transformation exist. Safe Keeping Receipts could allow mineral-rich countries to use underground resources as collateral without extraction. Natural capital bonds could turn forests and parks into financial assets.

 

Resource-backed loans could offer fairer alternatives to IMF packages. Yet, these instruments go unused, hindered by institutional inertia, lack of expertise, and sometimes, by corrupt deals that benefit elites--whether in partnership with Western corporations or emerging Eastern powers.

 

One core issue is a systemic lack of capacity. Many finance ministries remain staffed with economists trained in outdated methods, unfamiliar with asset-based or alternative finance.

 

Legal frameworks are not designed to accommodate advanced tools. And perhaps most damaging of all is the lingering colonial mindset--one that sees our resources as commodities for export, rather than levers for self-empowerment and growth.

 

Breaking this cycle demands bold, coordinated action. African nations need thorough valuation and mapping of natural resources--forests, minerals, water--backed by skilled professionals trained in modern financial strategies.

 

Our top students must learn beyond traditional economics, mastering innovative financing models. But most of all, Africa needs courageous leadership--leaders who reject the lure of extraction-driven growth and fight for fair, future-focused deals.

 

Investors--whether from Dubai, Washington, or Beijing--will always prioritize their own interests. African leaders must learn to negotiate from a position of strength.

 

The cost of inaction grows daily. As the global shift to green energy accelerates, Africa's critical minerals grow more valuable. Yet, without change, we risk repeating past mistakes--trading raw resources for short-term gains while others reap long-term wealth and climate finance.

 

Rwanda has already shown what's possible through strong leadership and visionary policy. Now, it must lead the charge into financial innovation, while resisting the pitfalls of a new generation of economic colonizers.

 

Africa's lands, minerals, and forests are not just environmental treasures. They are the key to the continent's economic sovereignty.

 

The time to act is now. The strategies exist. The examples are clear. What's missing is the bravery to abandon outdated systems--and the foresight to recognize that many so-called partners are just predators in new clothing.

 

And they're always one step ahead. Even as Africa begins to explore alternative financing tools, foreign actors are already evolving. From China to Turkey to the Arab Gulf, a surge of companies is sweeping into African markets with Engineering, Procurement, Construction, and Finance (EPC&F) packages. Marketed as solutions to infrastructure gaps, these deals often deepen debt and create long-term dependency.

 

Worse, these companies often operate with state backing, serving as geopolitical instruments, not just business entities. They promise roads, railways, and ports--but their real beneficiaries are economies outside Africa. Whether its Chinese infrastructure, Turkish construction, or Arab-labelled "investments," the results often mirror the exploitative patterns of colonial powers.

 

Africa's greatest challenge isn't a shortage of resources. It's the failure to convert its abundant wealth into true economic power, while being ensnared by a modern form of economic colonialism, disguised as investment.

 

The writer is a Development Finance Strategist.

 

Read the original article on New Times.

 

 

 

Africa Day - Why Data Sovereignty is Africa's Next Liberation Struggle

On this Africa Day, as we reflect on the journey of the continent and the hopes of its people, we must widen our lens to see the deeper, invisible frontiers that define sovereignty in the 21st century. One of these frontiers is data. In a world where data has become the scaffolding of how humanity experiences reality; through artificial intelligence, predictive analytics, and digital infrastructures; African states must not only protect their borders, but also their bytes.

 

Data is Power. And Power Must Be Localised.

 

The digital revolution is reshaping the world as we know it, including governance, education, health, and development. But without control over how our data is generated, interpreted, and stored, we risk becoming subjects of the systems that claim to serve us. This is not just about privacy or consent; it is about narrative, value, and agency.

 

Africa's historical experiences with colonialism remind us what happens when external powers extract resources; whether gold, labour, or knowledge; without accountability or reciprocity. Today, we are witnessing a digital form of that extraction: digital colonialism. Foreign AI systems are trained on global datasets that barely reflect Africa's realities, languages, histories, and cosmologies. Worse still, our digital behaviors are harvested, commodified, and sold by companies headquartered far beyond our jurisdictions.

 

The recent Africa Declaration on Artificial Intelligence, endorsed by over 50 African states, is a powerful commitment to shape AI development around shared values: ethics, inclusion, transparency, and local benefit. It acknowledges AI as a transformative tool but insists that its foundations must reflect Africa's lived realities, not imported assumptions.

 

To fulfill that vision, we must insist on data sovereignty; the right of African nations and communities to determine how data is collected, governed, and used, particularly in the training of AI systems.

 

Digitising the intangible: Our knowledge, our dataset

 

Africa's wealth is not only in minerals or markets, it is also in stories, languages, philosophies, and systems of knowing that have guided generations.

 

Take, for instance, Indigenous Knowledge Systems in agriculture and weather forecasting. Long before meteorological apps, African farmers read the land; using animal behaviour, plant cycles, and cloud patterns to predict rain or drought. These systems, though undocumented in Western formats, are precise, time-tested, and adaptive.

 

Our languages, too, hold unique ways of reasoning and relationship. Yet most African languages; from Yoruba to Shona, Amharic to Xitsonga; are considered "low-resource" in the context of AI. This means they lack the structured digital data needed to be recognised or used by machine learning models. In effect, they are invisible to the digital systems shaping our world.

 

Beyond spoken word, artistic and symbolic knowledge; such as the Adinkra symbols of Ghana or the geometric murals of the Ndebele; encode moral, spiritual, and communal codes. These are not decorations; they are data, deserving of preservation and interpretation.

 

Pre-colonial governance systems like the Gadaa system of the Oromo in Ethiopia demonstrate that African societies understood democracy, accountability, and civic participation long before they were formalised in Western charters. These systems offer alternative logics for AI ethics and civic design; but only if we recognise and structure them as legitimate knowledge.

 

The Ubuntu philosophy, "I am because we are"; should not only inspire social cohesion but also guide how algorithms are built: communally, transparently, and with care for their social consequences.

 

For centuries, our histories have been filtered through colonial languages and ways people understand, learn, and define truth using a colonial lense, often distorting or diluting African thought. Even where African content exists, it is often reframed to fit Western categories; losing context, nuance, and authority.

 

The oral storytelling traditions of griots, custodians of memory like those who tell the Epic of Sundiata, are rich archives of culture, governance, gender, and resistance. But if they are not digitised and structured, they will not be part of the global AI knowledge corpus. Our histories, then, will not only be forgotten; they will be overwritten.

 

Our future must be African-led

 

We are at a crossroads. We can either allow our cultures, languages, and data to be absorbed and reshaped by others; or we can insist on our right to define the systems that are defining humanity.

 

At Tech for Good, an African-based consultancy committed to responsible technology, we are working alongside civil society and governments to interpret and implement the values embedded in the Africa AI Declaration. This includes developing frameworks for data privacy, AI safety, ethical procurement, and digital public infrastructure that centre African priorities. But we cannot do this alone.

 

Our data, Our destiny

 

Data sovereignty is not a luxury; it is a necessity for digital self-determination. African nations must invest in:

 

●         Digitising and structuring Indigenous Knowledge Systems, so they can inform and shape AI development.

 

●         Preserving and expanding African languages, ensuring they are visible in digital spaces and AI models.

 

●         Creating datasets from oral histories, governance traditions, and symbolic systems, so that Africa's past and present can shape the future.

 

Africa Day reminds us not only of what we have overcome, but of what we must now claim. In this digital age, that means asserting our  r ight to define ourselves through our data; on our terms, in our languages, and in line with our values.

 

Let's not just be users of AI. Let's be authors of its foundations.

 

Philani Mdingi is the Executive Director of Tech for Good, a Johannesburg-based consultancy that helps African governments and civil society organisations implement responsible technology, including data governance, digital rights, and AI policy.

 

 

 

 

West Africa: Will Ecowas Survive Until 2030?

The West African geopolitical landscape is undergoing a seismic shift. The Economic Community of West African States (ECOWAS) inability to effectively address the region's political and security challenges has eroded faith in its vision. The institution has lost its legendary prestige in the eyes of West Africans, and its conduct has caused instability in the region.

 

ECOWAS, which will celebrate fifty years of existence on May 28, 2025, appears to lack the maturity of its age. The organization, which once symbolized unity, stability, and regional integration, is now a faltering union, a nonchalant entity undermined by internal and external problems that, if not resolved, could lead to its complete disintegration in the coming years.

 

The rise of the Alliance of Sahel States (ASS), comprising Mali, Niger, and Burkina Faso, led by military juntas, represents not only a daring step but also a fundamental challenge to the existing West African organization.

 

The Alliance of Sahel States is Weakening ECOWAS' Authority

 

The ASS was not formed by impulsive acts but rather a direct consequence of the latent frustrations with ECOWAS' perceived failures. Mali, Niger, and Burkina Faso, each having experienced coups d'état and grappling with severe security challenges, have increasingly viewed ECOWAS as an obstacle rather than a reliable partner. ECOWAS' economic sanctions against those countries and its willingness to consider military intervention in Niger after a military junta seized power in July 2023 were the final reasons for the breakup.

 

The departure of the Sahel states is rooted in the perception of ECOWAS applying a double standard in holding its leaders democratically accountable. While swift condemnation and sanctions were imposed on the Sahelian states following their military takeovers, there is a palpable sense that other member states with less overt but equally damaging democratic deficiencies, such as Togo, have been allowed to operate with impunity. This discrepancy has created resentment and encouraged the narrative that ECOWAS is more concerned with maintaining a certain image than with genuinely advancing democratic values in the region and addressing the fundamental needs of its populations.

 

The Sahelian states, facing existential threats from Islamist terrorism and feeling abandoned by ECOWAS, have pursued alternative solutions. Their alignment with countries such as Russia and Turkey is a clear indication of their disillusionment with the established ECOWAS-backed order and their willingness to forge new paths to ensure their survival and sovereignty.

 

Forming the ASS represents a defiant act, a rejection of what they perceive as a biased and ineffective regional body. This bold move, while fraught with its own risks and uncertainties, reflects a deep-seated belief that the existing regional structure has failed them and that a new and assertive Sahelian bloc is necessary for their future.

 

The recent surge of support for the ASS, both on the continent and across the diaspora, and, particularly, for Capitaine Ibrahim Traoré of Burkina Faso in the face of Western scrutiny and various failed coups, articulates a clear message: The ASS represents a powerful alternative, a vision of leadership that resonates deeply within Africa. It suggests a yearning for leadership that honestly champions the continent's aspirations and exemplifies the strength and determination that the African people desire in their leaders. This unified protest heralds a profound shift in how the continent envisions its future, while ECOWAS seems to go in the opposite direction.

 

ECOWAS, from Regional Power to Agonizing Institution

 

For many decades, ECOWAS served as a cornerstone of regional integration in West Africa, promoting economic cooperation, military collaboration, peace, and stability. Initially, it achieved notable successes in fostering trade, facilitating movement, and even intervening to manage conflicts. However, it has faced significant challenges that have eroded the organization's credibility and sown the seeds of discontent and distrust, particularly among its populations.

 

A significant point of contention is ECOWAS' selective approach to democratic governance. While the organization has, at times, condemned and even imposed sanctions on countries experiencing blatant military takeovers, its response to more insidious forms of democratic backsliding, such as rigged electoral processes and clinging to power beyond constitutional limits, has been conspicuously muted. ECOWAS' silence raised a sense of injustice and marginalization among populations witnessing the erosion of their democratic rights. Many citizens in West Africa, particularly in the Sahelian states and coastal countries of West Africa, are rebuffing an ECOWAS they perceive as a club for presidents whose agendas are not coordinated with the actual needs and aspirations of the people.

 

Additionally, ECOWAS has been criticized for its perceived deference to external powers, leading to accusations of being a tool of Western interests rather than a truly independent African institution. Actors seeking to undermine ECOWAS' authority and foster alternative alliances have exploited this perception, whether or not it is entirely accurate.

 

The organization's inability or unwillingness to proactively address the security challenges, development, and governance issues plaguing the region has further fueled the narrative of its insignificance in the eyes of its constituents. The rise of undemocratic regimes, often through the manipulation of elections and consolidation of power under the protection of external influences, has been a blatant wound that ECOWAS has failed to adequately heal, contributing directly to the current fracturing of the regional bloc.

 

Is ECOWAS Heading Slowly but Certainly Towards its End?

 

The world has changed, and citizens worldwide aspire to democratic governance and leaders who understand their needs. ECOWAS stands at a critical juncture where bold decisions must be taken for its survival. The persistent reluctance among some of its leaders to adhere to democratic principles, particularly regarding term limits and the suppression of political dissent, poses an existential threat to its long-term viability and moral authority.

 

The situation in Togo serves as a blunt reminder of this looming danger. The recent constitutional amendment--which effectively transfers the power to elect the president from universal suffrage to a legislature dominated by the ruling party--coupled with the creation of the post of the council of the ministers for the current president reveals the regime's absolute determination to perpetuate its hold on power indefinitely. ECOWAS' complicity in this blatant disregard for citizens' rights to universal suffrage sends a negative signal across the region.

 

Furthermore, the recent exclusion of prominent opposition figures, such as Charles Blé Goudé, president of the Pan-African Congress for Justice and Equality of Peoples, and Tidjane Thiam, president of the Democratic Party of Côte d'Ivoire, from the upcoming presidential elections in Côte d'Ivoire poses a risk to the country's stability. Lack of a significant declaration from ECOWAS raises serious questions about the institution's efficacy and commitment to democratic principles and the future of Cote d'Ivoire, while similar issues led to two civil wars in the country in 2002 and 2011.

 

After fifty years of existence, ECOWAS is at risk of disappearing if many of its current leaders continue to turn a deaf ear to the rightful desires of their people. Without any real support from its constituents, the West African bloc risks suffering the fate of many empires, kingdoms, and organizations before it.

 

The only way ECOWAS can escape this fate is the adoption of a radical and comprehensive strategy. This strategy should include a mandate for all presidents who have exceeded their terms to step down and constitutional amendments across the region establishing firm term limits. This is likely to be difficult, since many of the region's leaders refuse to embrace democratic values honestly. The consequences of failing to take some action, however, are dire. First, there is the growing influence of ASS in the region, despite its inherent challenges and uncertainties. The ASS can potentially supplant the established but seemingly nonchalant regional bloc. Second, there might be new military coups in the coming months with an alarming expansion of the influence of Russian and Islamist groups.

 

Such a trajectory would undoubtedly bury ECOWAS. By 2030, West Africans may chant, "Vive ECOWAS, ECOWAS est mort."

 

Komlan Avoulete is a Sahel researcher, geopolitical analyst, and freelance writer. His expertise lies in African affairs, with a focus on US-Africa relations, France-Africa relations, and West African terrorism. He is a regular contributor to publications such as Foreign Policy Research Institute and International Policy Digest.

 

Read the original article on FPRI.

 

 

 

 

 

West Africa: Chocolate and Rice Among Key EU Imports Facing Climate Threats

European supermarket shelves could become emptier as climate change and biodiversity loss threaten food production in countries that export to the EU, a report published on Wednesday warned.

 

The study by UK-based consultancy Foresight Transitions examined six major food imports - cocoa, maize, rice, wheat, coffee and soy - and found that more than half come from countries highly exposed to climate shocks and lacking the resources to adapt.

 

"These are not abstract threats - they are already manifesting concretely, negatively affecting businesses, jobs, and the availability and price of food for consumers," said Camilla Hyslop, one of the report's authors.

 

"And the situation is only getting worse."

 

Ominous dead tree emoji brings climate anxiety to your phone

 

Cocoa industry exposed

 

The EU is the world's biggest consumer, producer and exporter of chocolate, but most of its cocoa imports come from five countries: Côte d'Ivoire, Ghana, Cameroon and Nigeria in West Africa, and Ecuador in South America.

 

All are grappling with growing environmental pressures.

 

"Climate impacts are worsened by biodiversity loss, which makes farms and ecosystems less resilient to shocks," Hyslop said.

 

"Less biodiverse farms are more vulnerable to crop diseases, which in turn often emerge because of declining biodiversity."

 

These combined pressures have already contributed to a 41 percent increase in the total value of imports last year, Hyslop added.

 

In 2022, Pakistan - a major rice exporter to Europe - lost 80 percent of its harvest due to severe flooding. In 2023, flooding in the UK and France reduced wheat yields, while high temperatures in Eastern Europe damaged maize crops.

 

Despite these setbacks, the EU's dependence on imported food continues to rise, with the report noting that Europe has doubled its maize imports over the past 10 years.

 

Climate-driven changes to ocean colour fuel urgency ahead of UN summit

 

Relocation not viable

 

The report says shifting food production back to Europe is not a realistic solution. Many of the crops involved cannot be grown easily in the EU, and the continent is already facing its own climate and biodiversity pressures.

 

Foresight Transitions director Mark Workman, who co-wrote the report, told FranceInfo that relocation would be "a largely insufficient response".

 

Instead, he said the priority should be to strengthen the climate resilience of producers in partner countries - especially those that supply key ingredients for European food industries.

 

Workman said such support should not be seen as separate from Europe's broader security strategy. "In reality, they are two sides of the same coin," he added.

 

Read or Listen to this story on the RFI website.

 

 

 

 

Africa: How Computational Biology Is Zoning in On the Future of Agriculture

Champaign, Illinois — When pioneering agronomist and father of the "Green Revolution" Norman Borlaug set out to breed a disease-resistant, high-yielding variety of wheat, he spent years laboriously planting and pollinating different specimens by hand. He manually catalogued every outcome until he landed on the variety that would transform farming and avert famine. The result was even greater than expected: it is estimated that he saved more than a billion people worldwide from starvation.

 

Megan Matthews

 

Today, computational tools like modeling can be used to inform and anticipate the expected outcomes of early-stage experiments, helping to prioritize which strategies to pursue and cutting down the time needed to achieve the same goal.

 

With the world facing the same existential need as during Borlaug's time to transform agriculture to sustainably feed the global population, more efficient technologies and processes are critical. Computational biology and modeling offer tools that can guide scientists towards the most promising areas of emerging research and accelerate the breakthrough discoveries needed to make farming more equitable and sustainable. Combining data analysis, computer science and modelling, computational biology brings together these techniques to better understand biological systems.

 

An exciting possibility on the horizon for crop science is the early progress towards engineering cereal crops to source their own nutrients and reduce the need for fertilizer. Legumes like beans, peas and lentils already have this ability, but improving nutrient uptake and growth in non-legume plants would have a transformative impact on yields and sustainability.

 

Researchers, including those involved in the Engineering Nutrient Symbioses in Agriculture (ENSA) project working with funders like Gates Agricultural Innovations, are investigating plant interactions with a soil bacteria called rhizobia, as well as arbuscular mycorrhizal fungi (AMF), which provide the plant with nitrogen and phosphorus through biological processes.

 

Harnessing this ability would reduce the need for inorganic fertilizers to provide these key nutrients, ensuring multiple benefits. For one, fertilizer is often a big expense for farmers, especially given price volatility over the last several years. This can be a prohibitive cost for farmers in low-income countries or communities.

 

Furthermore, the overuse of fertilizers can cause negative environmental impacts. Nitrogen fertilizer production and use accounts for around five percent of greenhouse gas emissions and the nitrous oxide produced is 300 times more potent than carbon dioxide. Fertilizer run-off also causes dangerous algal blooms that develop in waterways, killing off aquatic biodiversity.

 

While the benefits of giving more plants the ability to source nutrients biologically are evident, it has not been clear until now what the exact effect of these nutrient symbioses would be on plants. More specifically, scientists know the interactions between soil bacteria or fungi and plants impact growth, but not by how much.

 

Recent research by my group has examined this for the first time using a metabolic model for maize. It analyzed the hypothetical growth rate of maize if it were to acquire the ability to interact with rhizobia, which it does not currently have. The model also assessed the growth rate when maize is associated with AMF.

 

Rhizobia aids in nitrogen fixation, pulling nitrogen from the air and sharing it with plants in exchange for carbon. AMF, instead, help plants access more nutrients in the soil beyond what can be accessed by their roots alone. The findings suggest that stacking these traits to allow for interactions with both rhizobia and AMF could more than double maize growth rates in nutrient-limited conditions. While the model does not predict changes in yield, it is reasonable to expect that higher growth rates under these conditions would also lead to higher yields.

 

The results of the modelling are particularly significant given the global importance of maize as a food security crop. For example, maize is one of the most important crops in sub-Saharan Africa, providing a third of all consumed calories, yet the region experiences chronically lower maize yields than other parts of the world. For an average smallholder maize farmer in sub-Saharan Africa with a two-hectare plot, doubling maize yields would equate to an additional $1000 each year.

 

Using a model that was developed and validated with experimental data, we were able to quantitatively highlight the potential of combining these two approaches, which may not have been prioritized otherwise. Without modeling, this kind of analysis would take years to collect, evaluate and classify, on top of the time needed to successfully engineer nitrogen-fixing maize, which does not currently exist.

 

Too often, modeling and experimental science are treated as separate and distinct from one another. And yet, when combined, the two offer enormous potential to accelerate crop science for the public good.

 

It does not take a vivid imagination to consider the many ways in which modeling can help validate and justify research priorities.

 

By uniting scientists across these disciplines at the Society of Experimental Biology's annual conference later this year, I hope to ignite a conversation about how modeling can support and enhance translational experimental science. And by working together, we can compound the advances we are making towards more sustainable food systems for all.

 

Megan Matthews, a principal investigator with the Enabling Nutrient Symbioses in Agriculture (ENSA) project and Assistant Professor at the University of Illinois

 

IPS UN Bureau

 

Follow @IPSNewsUNBureau

 

Read the original article on IPS.

 

 

 

Nigeria: Despite Evidence, Akwa Ibom Govt Denies Receiving N653.6 Billion Revenue

The government's reaction follows a report by a newspaper in the state.

 

Despite glaring evidence, Akwa Ibom State Government has refuted a media report that said it has received N653.6 billion as revenue in the first three months of 2025.

 

The State Commissioner for Information, Aniekan Umanah, made the rebuttal in reaction to a publication by a newspaper in the state.

 

The newspaper, theMail in its Tuesday edition ran a story with a banner headline, "Akwa Ibom Govt gets N653.6 billion revenue in first three months of 2025". The report said the government has spent 199.6 billion.

 

Citing the state government's 2025 first quarter Budget Performance Report (BPR), the newspaper provided details on how it arrived at N653.6 billion as the total revenue and N199.6 billion as the total expenditure of the state within the said period.

 

Of the N653.6 billion, the newspaper gave a breakdown that the state government has an "opening balance of N375.69bn brought forward from the revenue remnant of the 2024 fiscal year."

 

The state government, the newspaper reported, has received "N261.56bn revenue from the Government share of Federation Account Allocation Committee (FAAC)" and "N16.31bn from the Internally Generated Revenue (IGR)"

 

It also reported an expenditure of "N199.6bn with a breakdown of N65.73bn on recurrent expenses and N133.9bn on capital expenditure."

 

Report erroneous, says Akwa Ibom Govt

 

In the statement, the state government described the publication as "false claims, misleading and inaccurate," and urged the public to disregard it.

 

Mr Umanah, the commissioner for information, said the report was not only "false but reflects a gross misrepresentation of the state's financial position".

 

However, the commissioner did not provide any figure as revenue and expenditure for the said period to counter the paper's report.

 

"The figures quoted are inaccurate, misleading, and entirely detached from verified financial records," Mr Umanah said, discrediting the report whose data is obtained from the Akwa Ibom State Government's website.

 

"The publication appears to be the product of a flawed interpretation and a lack of basic understanding of public finance, particularly the concept of carry-over balances from the previous year, which are standard components of budgetary and treasury frameworks.

 

"It is unprofessional to misinform the public through unchecked extrapolations and a wrong reading of complex financial documents," Mr Umanah said, urging the public to disregard it and continue to support Governor Umo Eno.

 

'We stand by our report' - theMail

 

Reacting to the Akwa Ibom State Government's rebuttal, theMail, in a statement on Wednesday said it stands by its report.

 

"It is very surprising and shameful, to say the least, that the Government of Akwa Ibom State came out to dispute the data published in its own report yet disappointingly failed to provide the supposed correct revenue and expenditure profile of the State," said Mr Simon, an editor with the newspaper.

 

The quarterly BPR of the sub-nationals in the federation is published two weeks after every quarter to promote transparency in public finance.

 

The state government, which in the past adhered to this deadline, only published that of the first quarter of 2025 on 12 May, prompting theMail to suspect that something was wrong.

 

"Surprisingly, even after the late publication, the Government of Akwa Ibom State conspicuously left behind a salient part of the report, which would aid accountability. For instance, the Budget Performance Report, which is usually a 46-page report capturing how each Ministries, Departments, and Agencies (MDAs) generated revenue (Revenue by Administrative classification), Revenue by Economic Classification, Expenditure by Administrative classification- personnel, Overhead, and Capital, among other imperatives, were all exempted.

 

"The State only published a three-page summary of the report, leaving citizens in the dark on where the money actually went to.

 

"Seeing the government of Akwa Ibom State come out to cry foul on why our newspaper published the financial portfolio of the State, coupled with its decision to hold back a detailed report from the public, we are forced to ask: What really is Akwa Ibom State Government trying to hide in its finances," the newspaper said.

 

Findings by PREMIUM TIMES

 

The state government BPR is a publication from the Budget Office, an agency under the Ministry of Budget and Economic Planning.

 

PREMIUM TIMES checks on the 2025 first quarter report obtained from the agency's website indicate that the state government received N653.6 billion, representing 68.4 per cent of its projected revenue for the 2025 fiscal year, and has spent N199.6 billion within the first three months in 2025 as reported by theMail.

 

However, it must be noted that of the N653.6 billion, N375.6 billion, representing over 50 per cent, is the opening balance, the amount carried over from the 2024 budget, which is yet to be audited.

 

Since budget performance reports are not audited financial statements of governments, there are likely to be changes in figures when an audited account is released to the public.

 

Read the original article on Premium Times.

 

 

 

 

 

Nigeria: Dangote Refinery Announces Reduction in Petrol Pump Price

On Monday, the company reaffirmed its commitment to maintaining price stability for petrol, despite global crude oil price fluctuations.

 

The Dangote Refinery has announced a reduction in petrol pump price to N875 per litre.

 

The company disclosed this in a post on its official X handle on Thursday.

 

"New reduction in PMS petrol pump price. Buy from our partners' retail outlets nationwide at the following prices per litre: For MRS Holdings stations, it will be sold for N875 per litre in Lagos, N885 per litre in the South-West, N895 per litre in the North-West and Central, and N905 per litre in the North-East and South-South regions, respectively.

 

"The same product will also be available at the following prices in AP (Ardova Petroleum) and Heyden, Optima Energy, Techno Oil and Hyde stations: N875 per litre in Lagos, N885 per litre in the South-West, N905 per litre in the North-East and South-South and South-East, and N895 per litre in the North-West and Central," it said.

 

The refinery urged customers to report non-compliance, via its hotline.

 

"Our quality petrol and diesel are refined for better engine performance and are environmentally friendly," it said.

 

On Monday, the company reaffirmed its commitment to maintaining price stability for petrol, despite global crude oil price fluctuations.

 

The company's Group Chief Branding and Communications Officer, Anthony Chiejina, said the decision reflects the company's unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.

 

Read the original article on Premium Times.

 

 

 

 

Nigeria: 36,359 Nigerian Pilgrims Transported As Airlift Operation Ends May 30 - NAHCON

The National Hajj Commission of Nigeria (NAHCON) says it has successfully transported 36,359 Nigerian pilgrims to the Kingdom of Saudi Arabia, saying that the airlift operation will end on May 30.

 

The commission disclosed this in a statement issued by its Assistant Director, Information and Publication, Hajiya Fatima Usara, in Madina on Thursday.

 

Usara said that, as of the report's publication, 5,494 pilgrims from the government quota were still awaiting airlift.

 

"Air Peace is projected to conclude its final Hajj flight on May 24, having secured a slot for the date.

 

"Similarly, UMZA Aviation is expected to complete its operations from Kaduna on the same day, with only three flights remaining.

 

"Max Air will round off its airlift operations on May 25.

 

"The extension is due to an increase in the number of pilgrims that continued to register in some of the states assigned to the airline after formal allocation," Usara said.

 

According to her, in a special arrangement, FlyNas will conclude its operations on May 30.

 

"The final FlyNas flight will depart with a full complement of pilgrims, including the Governor of Kebbi State.

 

"The commission will conduct mop-up flights on May 24 in Kaduna by Umza, Abuja by Air Peace, and Max Air in Kano. Max Air's final flight will take off from Katsina on May 25," she said.

 

Regarding the Nusuk card, the NAHCON spokesperson reassured the few pilgrims who have yet to receive their cards to remain calm, as they will receive their cards soonest.

 

"The Saudi Ministry of Hajj and Umrah, which oversees its issuance in partnership with designated service providers, has directed immediate resolution of all outstanding issues.

 

"NAHCON is monitoring the process closely to ensure compliance and timely distribution." she said

 

The NAHCON spokesperson recalled that on April 23, the commission announced that its VIP service provider, the Rawaf Mina, secured 2,800-bed spaces in the Tent A + facility.

 

According to her, as the only VIP location secured this year, distribution to interested parties has continued following the announcement.

 

Meanwhile, the NAHCON Chairman, Prof. Abdullahi Saleh, praised Almighty Allah for the successes achieved so far and prayed for their continuation throughout the Hajj season.

 

He thanked the commission's numerous stakeholders who contributed to achieving this feat.

 

The chairman also praised the intending pilgrims for their patience and civil conduct so far.

 

Read the original article on Vanguard.

 

 

 

 

 

Rwanda to Spend Rwf12bn On Digital IDs Next Fiscal Year

The government plans to spend Rwf12.2 billion in 2025/2026 on the national digital identification and authentication project, an initiative aimed at giving every citizen a single digital identity.

 

This was revealed by the Minister of ICT and Innovation, Paula Ingabire, who recently appeared before the Parliamentary Committee on State Budget and Patrimony to present her ministry's spending priorities in the next fiscal year.

 

ALSO READ: Rwanda's $40m digital ID project 'back on track' - official tells lawmakers

 

"This is a project which will cost a total budget of Rwf54.2bn," the minister told MPs.

 

"In the 2024/2025 fiscal year, we had allocated Rwf5.3 billion for the project, but delays in the tendering process for upgrading the Single Digital Identification System (SDID) core system caused setbacks. However, by the end of June, we expect to reach planned activities for this fiscal year," she explained.

 

ALSO READ: Six things to know about Rwanda's proposed digital ID

 

The Single Digital Identification System is designed to unify the identity of every Rwandan for easy access to services such as banking, government programs, mobile registration, among others.

 

Yves Iradukunda, the Permanent Secretary in the ICT Ministry, explained that the delays were mainly due to procurement issues, but these are now being resolved.

 

"We're finalizing contracts with bidders, and implementation will move forward without further disruption," he said.

 

ALSO READ: Rwanda's Digital ID: Iris scans, fingerprints help recovery when lost

 

He noted that the next phase involves important groundwork, setting up infrastructure and launching field operations to register people nationwide, collecting biometric data like fingerprints and iris scans.

 

The registration process is scheduled to begin in June 2025.

 

"This is a foundational step, we're laying the groundwork to eventually include every citizen in a secure national registry," Iradukunda said.

 

The project is being rolled out in four phases, with feasibility studies already completed and the ministry currently working on a pre-enrollment system to process civil registry data and adapt it to digital formats.

 

The final phase of building the core ID system is underway, with procurement documents already issued and bidders submitting proposals.

 

ALSO READ: Digital IDs could save Africa $50bn annually, report shows

 

To ensure that every Rwandan receives a digital ID, the ministry has outlined a broad strategy. A Public Key Infrastructure (PKI) system will anchor the digital identity's security, while modern ICT upgrades will provide the capacity to manage millions of secure registrations.

 

Registration centers equipped with biometric kits will be established across the country. These will include user-friendly enrollment systems, identity verification tools, and digital civil archives for instant document checks. Special provisions will be made for remote and marginalized populations through mobile units and multilingual support desks.

 

According to David Byabagamba, a planning specialist at MINICT, the system's backbone will be the automated biometric identification system (ABIS), which guarantees that each ID is unique and core functions will include biometric de-duplication, real-time authentication, and secure ID card printing.

 

"To boost public trust and participation, a national communication campaign will explain how the system works, the benefits of digital identity, privacy protections, and support available throughout the process," he added.

 

Read the original article on New Times.

 

 

 

 

 

US House passes Trump's 'big, beautiful' tax and spending bill

House Republicans have passed a sweeping multi-trillion dollar tax breaks package, a narrow victory for President Donald Trump and House Speaker Mike Johnson after weeks of negotiations with conservative hold-outs.

 

Trump's "big, beautiful bill" passed with a vote of 215 votes to 214, with two Republicans joining Democrats to oppose it and one voting present.

 

It now heads to the Senate, which will have the chance to approve or change provisions of the bill.

 

The US President's allies on Capitol Hill have celebrated its passage as a victory, with Johnson saying it "gets Americans back to winning again".

 

A look at the key items in House Republican's 'big, beautiful bill'

 

Long a policy priority of Trump's, the legislation extends soon-to-expire tax cuts passed during his first administration in 2017, as well as provides an influx of money for defence spending and to fund the president's mass deportations.

 

It also temporarily eliminates taxes on overtime work and tips - both key promises Trump made during his successful 2024 presidential campaign.

 

"What we're going to do here this morning is truly historic, and it will make all the difference in the daily lives of hard working Americans," Johnson said on the floor before the vote.

 

Additionally, the bill makes significant spending cuts, including to the Medicaid healthcare programme for lower-income Americans as well as Snap, a food assistance programme used by more than 42 million Americans.

 

These cuts were the subject of intense friction among Republicans, which was finally overcome after the President travelled to Capitol Hill on Tuesday. He privately told lawmakers to put aside their objections or face consequences.

 

Democrats also fiercely opposed the bill and warned that the cuts could have dire consequences for millions of lower-income Americans.

 

"Children will get hurt. Women will get hurt. Older Americans who rely on Medicaid for nursing home care and for home care will get hurt," Minority Leader Hakeem Jeffries, a New York Democrat, said on the House floor.

 

"People with disabilities who rely on Medicaid to survive will get hurt. Hospitals in your districts will close. Nursing homes will shut down," he added. "And people will die."

 

The next day, a statement from the White House warned that the administration would see a failure to pass the bill as the "ultimate betrayal".

 

The legislation, however, comes with a massive price tag. It is estimated to add $5.2tn (£3.9tn) to US debt and increase the budget deficit by about $600bn in the next fiscal year.

 

Those eye-popping figures - and the prospect of ballooning interest payments on the debt - were among the reasons that financial rating agency Moody's downgraded the US credit rating last week.

 

The lengthy document of over 1,000-pages was released just hours before lawmakers were asked to vote on it, meaning there could be other provisions and line items yet to be discovered.

 

The Senate must also approve the bill and could make some changes in the process. If lawmakers there do, it will return to the House for another high-stakes vote with potential to go wrong.

 

On Truth Social, Trump urged the Senate to send the bill to his task "as soon as possible".

 

One of the first items senators will have to tackle is a report from the Congressional Budget Office that the debt increase in the House bill would trigger a provision of a 2011 law that mandates approximately $500bn in spending cuts to Medicare, the health insurance programme for the elderly.

 

Trump had pledged not to touch that popular government service – and Republicans would likely face a political price if they don't tweak the rules to avoid the mandatory reductions.

 

Democrats are pledging to use today's vote against Republicans in next year's midterm congressional elections, highlighting other spending cuts – including to the low-income health insurance programme, government research and environmental spending – and tax reductions for the wealthy.

 

Even Congressional Republicans celebrate a win, the narrowness of the Republican House majority is vulnerable to even small shifts in public sentiment. The midterms could flip control of that chamber to the Democrats and grind Trump's legislative agenda to a halt.-BBC

 

 

 

 

The town divided by Bitcoin

For the last five years, a loud hum has been a continual backdrop to birdsong and the occasional barking dog in the village of Dresden, New York state.

 

Coming from the nearby Greenidge Generation power plant, which had been mothballed for years before, the sound has angered some local people.

 

"It's an annoyance," says Ellen Campbell, who owns a house on Seneca Lake a short distance away. "If I sit out by the lake, I would rather not hear that.

 

"We didn't sign up for the constant hum."

 

The issue here in Dresden, a village of about 300 people surrounded by winding country roads, single-track rail lines and farms growing grapes and hops, sounds like a familiar story about the tension between nature-loving locals and economic development.

 

But their annoyance is also a signal of something less expected – policies of US President Donald Trump meeting resistance from people in the rural areas whose votes drove his return to the White House.

 

And the cause? Bitcoin mining.

 

An energy-intensive process that relies on powerful computers to create and protect the cryptocurrency, Bitcoin mining has grown rapidly in the country over recent years. The current administration, unlike Joe Biden's, is intent on encouraging the industry.

 

Trump has said he wants to turn the US into the crypto-mining capital of the world, announcing in June 2024 that "we want all the remaining Bitcoin to be made in the USA". This has implications for rural communities throughout the US – many of whom voted for Trump.

 

 

Associated Press Aerial shot of Greenidge power plantAssociated Press

A Bitcoin mine started operating at Greenidge power plant in 2020

Installations like the one at the power plant near Dresden are appearing across the country, drawn by record-high cryptocurrency prices and cheap and abundant energy to power the computers that do the mining. There are at least 137 Bitcoin mines in the US across 21 states, and reports indicate there are many more planned. According to estimates by the US Energy Information Administration (EIA), Bitcoin mining uses up to 2.3% of the nation's grid.

 

The high energy use and its wider environmental impact is certainly causing some concern in Dresden.

 

But it's the unmistakable hum that is the soundtrack for discontent in many places with Bitcoin mines - produced by the fans used to cool the computers, it can range from a mechanical whirr to a deafening din.

 

 

Ellen Campbell on the porch of her home overlooking Seneca Lake

Ellen Campbell is annoyed by what she describes as a constant hum from the Greenidge Bitcoin mine

"We can hear a constant buzzing," says another Dresden resident, Lori Fishline. "It's a constant, loud humming noise that you just can't ignore. It was never present before and has definitely affected the peaceful atmosphere of our bay."

 

Such is Ms Campbell's annoyance with Trump's Bitcoin backing, her political allegiance to the Republicans is being tested. "Right now I'm not real happy about that party," she says.

 

 

Backlash in Trump's backyard

The conflict in Seneca Lake is being played out nationwide, which could pose problems for a White House intent on pursuing a pro-cryptocurrency agenda.

 

A little over 100 miles west of Dresden, a backlash in the US border town of Niagara Falls prompted the local Mayor Robert Restaino - a Democrat - to issue a moratorium on new mining activity in December 2021, and the following year noise limits of 40 to 50 decibels near residential areas were imposed. He said: "The noise pollution of this industry is like nothing else."

 

Locals described the sound as similar to that of a 747 jet, or as grating as having a toothache 24 hours a day, claiming that the noise drowned out the sound of the nearby waterfalls.

 

And in Granbury, Texas, a 24ft-high sound barrier was erected in 2023 at a mining site after residents complained to public officials that the nonstop roar was keeping them awake and giving them migraines.

 

All these Bitcoin operations opened before Trump's return to the White House. But the opposition they have generated suggests public officials in Republican-voting areas are likely to find themselves coming under continued pressure from local people who oppose further Bitcoin mining expansion.

 

If this happens, could Trump's crypto dreams be derailed in his own backyard?

 

Trump's crypto U-turn

Less than four years ago, Trump said Bitcoin "just seems like a scam". Yet those reservations have now gone: the Trump family has since started the crypto firm World Liberty Financial, and Trump launched his own cryptocurrency, $TRUMP – 220 of its top buyers were invited to a private gala dinner with the president on Thursday.

 

 

SOPA Images via Getty A billboard showing a cartoon of Trump holding a BitcoinSOPA Images via Getty

In the space of four years, Trump has reversed his stance on cryptocurrency

Trump's sons Eric and Donald Jr are behind a crypto mining venture called American Bitcoin, which plans to trade on the Nasdaq stock exchange, and aims to build one of the world's largest and most efficient Bitcoin mining platforms, rooted in American soil.

 

Bitcoin mining has boomed in the US partly because of a crackdown in China in 2021, which was due to concerns over its environmental damage. Alexander Neumueller, an expert at the University of Cambridge's Centre for Alternative Finance, says that although it's hard to trace every last mine, it's clear that the US is now the leading Bitcoin producer, mining about 40% of the world's supply.

 

 

>From village halls to state legal battles

Dresden is in New York's Finger Lakes region – a rural area sliced through with deep glacial lakes, which attracts tourists drawn by its wineries, breweries and outdoor pursuits. In Yates County, home to Dresden and the Greenidge plant, around 60% of voters picked Trump last November.

 

According to the owners of the mine, Greenidge Generation, anywhere from 40 to 120 Bitcoin a month are being produced at the plant, along with some energy that flows back to the grid.

 

 

 

The company – which turned down requests for an interview – has argued that they converted a coal-burning operation into a relatively cleaner gas-fired power installation that complies with state environmental laws.

 

But amid public concern, New York state and Greenidge are currently engaged in a protracted legal battle over the plant's future. With some of the strictest environmental laws in the country, New York officials are challenging whether the gas-fired plant is permitted under the regulations that allowed the old coal plant. Power generation – and Bitcoin mining – has been allowed to continue during appeal proceedings.

 

Abi Buddington, who owns a house in Dresden and has been at the forefront of the fight against the crypto mine, says it has become a big issue locally.

 

"The climate changed, both environmentally as well as in our quiet little community," she says, recalling raised voices at contentious town hall meetings.

 

Abi Buddington in a field

Abi Buddington has been fighting the Bitcoin mine near Dresden

 

Ms Buddington is trying to change minds in Dresden and, through her network, elsewhere around the country.

 

"There are some who are environmentally concerned, and who may be Republican-leaning," she says. "What we've found nationally is even in red states, once elected officials are educated properly and know the harms, they are very opposed."

 

But not all are convinced. "They've been a good corporate neighbour," says Dresden's recently elected mayor, Brian Flynn, about the mine. "I'm pro-business, whether it be Greenidge or local agriculture… I think it's important to have a mix of both industry and recreation."

 

Real-world impacts of crypto

Legal battles like the one in Seneca Lake are bringing home the realities of an industry that at first glance might seem contained to banks of data servers, removed from the real world.

 

Bitcoin "miners" – who are not actually extracting anything from the earth – verify transactions by solving extremely difficult cryptographic problems that require powerful computers. In return, they are rewarded with Bitcoin.

 

 

LARS HAGBERG/AFP via Getty A man in a safety helmet stands on a platform in front of a bank of Bitcoin mining computersLARS HAGBERG/AFP via Getty

Without a central bank or watchdog, Bitcoin operates on a decentralised system, relying on a network of miners with powerful computers

As the price of Bitcoin has shot up to its current value of around $100,000 (£75,000), ever-increasing amounts of computing power have been needed to win crypto rewards, shutting out smaller miners in favour of large collectives and companies.

 

As well as the hum, mining's energy use has environmental impacts. A Harvard study published in March in the peer-reviewed science journal Nature Communications found that Bitcoin mining exposes millions of Americans to harmful air pollution each year - and that 34 Bitcoin mines consumed a third more electricity than the city of LA. (There was some pushback from the crypto industry to the study, which was called The environmental burden of the United States' Bitcoin mining boom.)

 

According to the Cambridge Bitcoin Electricity Consumption Index, mining globally uses approximately 0.7% of global electricity consumption.

 

 

A bar chart showing the annual increase of Bitcoin's energy consumption. Since 2019, the figure has risen from around 55 to almost 160 Terawatt hours in 2024. This is based on estimates by the Cambridge Centre for Alternative Finance, with the assumption that the average electricity cost is 0.05 US dollars per Kilowatt hour. The figures to date up to May 2025 are already higher than the total for 2020 and previous years, suggesting ongoing growth.

That has a knock-on effect on local energy prices, which is also provoking a backlash in some areas.

 

In 2017, Bitcoin miners flooded into Plattsburgh, New York – a city of about 20,000 people a couple of hours to the north of Dresden – because of cheap hydroelectricity rates. "We were getting Bitcoin applications from operators all around the world," says the city's mayor at the time, Colin Read.

 

Yet they used so much power that electricity rates shot up. Within a year, some residents were paying up to 40% more during winter months, Read says.

 

The following year, he and other local lawmakers passed rules against buildings blasting out hot air.

 

"Fortunately we put a stop to it," he says, noting that all but one Bitcoin mining operation left the city.

 

 

Opposition in Maga heartlands

Resistance to Bitcoin mines extends to places with the biggest Trump support.

 

Cyndie Roberson was retired and unaware of the crypto industry until a Bitcoin mining operation moved to her small town in North Carolina in 2021. The locals banded together and managed to ban new Bitcoin developments in their area - but the existing one was allowed to stay and the bitterness of the fight made her decide to move south, to Gilmer County in Georgia.

 

There, Ms Roberson has campaigned against crypto mining in a region that is solidly pro-Republican. In the county where she lives, she says that around 1,000 people came to a public meeting to oppose a mine, which then wasn't allowed to operate.

 

Just north of Gilmer, the Fannin County Commission has enacted a ban on crypto mining, while a Georgian commission representing 18 primarily rural counties has published advice on how to restrict the development of Bitcoin mines.

 

"When you're in my backyard, when you're in my town, trying to wreck our property and our peace, people will tell you, it's a hard 'no'," says Ms Roberson.

 

Although 80% of local people backed Trump last November, that support doesn't appear to stop people opposing one of his key crypto goals.

 

'You can build your own power plant'

The Trump administration is not planning to do away with all regulations around crypto mining - but it is ready to actively help companies open power plants next to the mines.

 

In an interview with Bitcoin Magazine in April, commerce secretary Howard Lutnick said: "We're going to make it so that if you want to mine Bitcoin, and you find the right place to do it, you can build your own power plant next to it," going on to argue that such projects would stop "these stories about 'You're taking too much power and now the cost of operating my refrigerator is higher'."

 

 

Seneca Lake, with a jetty

Rural areas like Seneca Lake are encountering the real-world effects of Bitcoin

"The next generation of miners in America will be able to control their destiny, control the cost of power, and I think that is going to turbocharge Bitcoin mining in America," Lutnick told the magazine.

 

According to Zack Shapiro, head of policy at the Bitcoin Policy Institute, a US think tank that researches emerging monetary networks, that process has already begun. "There are states that are passing laws specifically prohibiting municipalities from banning Bitcoin mines," he says. "It's a mechanism by which mining companies can fight back."

 

And the nature of Bitcoin mining means that, if it meets resistance, it can quickly move on to somewhere more favourable.

 

When Colin Read tackled the mines in Plattsburgh, he saw how easily they could change location.

 

"This industry is really footloose," he said. "When we told these companies they couldn't have more power without going through hoops, they packed up and went to a community where they didn't have such strict requirements."

 

 

Offshore mines of the future?

Local opposition is not Trump's only challenge. Could the sea, for example, be a better location for Bitcoin mining?

 

Mr Shapiro believes that, with miners looking for the lowest cost, they could turn to leftover renewable energy that can't be used by other applications. "Wind power in the ocean can't be used to power a city, but you can set up an offshore platform that captures offshore wind and tidal energy, and use that to mine Bitcoin – because there's not another buyer to use that energy, it's probably ultimately where Bitcoin mining operations move."

 

It could also be that in the cryptocurrency race, Bitcoin might not be the best bet. Read - who is an energy economist - is sceptical about the staying power of energy-intensive Bitcoin because he believes other more efficient alternatives are going to emerge.

 

With the White House egging on the industry, fights over Bitcoin mining will inevitably play out in smaller forums, in state and local governments and tiny places like Dresden.

 

But one constant in the short history of Bitcoin has been volatility. It might be boom times now – yet a downturn in the price, shifts in energy sources and changing crypto needs could fundamentally reshape the Bitcoin mining landscape, no matter how much Trump wants to keep it in the US.-bbc

 

 

 

US Treasury confirms the end of the penny

The US Mint says there will be an immediate annual saving of $56m (£42m) it they ceases production

One cent coins will stop being produced in the US next year, the Treasury Department has confirmed.

 

It marks the phasing out of the coins, commonly known as pennies, which have been in circulation for more than two centuries.

 

President Donald Trump told Treasury Secretary Scott Bessent in February to stop minting the coins, calling them "wasteful".

 

There has been a long debate over the cost and usefulness of pennies in the US.

 

 

In January, Elon Musk's unofficial Department of Government Efficiency (Doge) drew attention to the cost of minting pennies in a post on X.

 

Final order

The penny was one of the first coins made by the US Mint, entering circulation in 1793.

 

But over the past 10 years, the cost of producing it has risen from 1.3 cents to 3.69 cents per coin, according to the Treasury.

 

The Mint estimates that stopping production will result in an immediate annual saving of $56m (£42m) in reduced material costs.

 

Critics of the zinc and copper coin say producing it is a waste of money and resources, while those who want to keep it argue it keeps prices lower and boosts fund-raising for charities.

 

The phasing out of the coins will mean businesses will need to round prices up or down, according to the Wall Street Journal (WSJ), who first reported the story.

 

"Confirming the WSJ story, the Treasury has made its final order of penny blanks this month and the United States Mint will continue to manufacture pennies while an inventory of penny blanks exists," a Treasury spokesperson said.

 

Other countries have discontinued similar coins. Canada ditched its one cent coin in 2012, citing the cost of minting it and its falling purchasing power due to higher prices.

 

The declining use of cash meant the UK did not mint any new coins in 2024, after officials decided there were already enough coins in circulation.

 

The UK Treasury has said that 1p or 2p coins are not being scrapped, but with more people living cashless lives, there have been several years when no 2p coins were produced.-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 subscribe for any securities. The information contained in this report has been compiled from s believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other  Indices quoted herein are for guideline purposes only and d from third parties.

 


 

 


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

 


 

 

 

 

 

 

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