Major International Business Headlines Brief ::: 02 September 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  02  September  2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Gambia: The Gambia's Economy Maintains Growth Momentum Amid Global
Uncertainty

ü  Somalia: Somali Envoy Hails Arab League's Debt Waiver As 'Historic
Achievement'

ü  Nigeria: NNPC, TotalEnergies Sign PSC Agreement for Deepwater Blocks

ü  Civil vs Structural vs Mechanical: Types of Consulting Engineers in
Namibia Explained

ü  Nigeria: UK Announces £5 Million Partnership With AGRA to Boost African
Agricultural Trade

ü  Africa: The Rising Stakes of Foreign Investment in Africa

ü  Liberia: Arcelormittal Liberia Funds Construction of Police Depot in
Zolowee

ü  Uganda: Museveni Calls for Integrity, Patient Capital As He Opens Uganda
Devt Finance Summit

ü  Africa Must Adopt AI to Catch Up With Digital Devt, Says Communication
Minister

ü  Rwanda: How Rwanda's Upcoming Artificial Lake Will Benefit Multiple
Districts

ü  Nigeria: 40th Anniversary - Ecobank Nigeria Launches New Edition of Super
Rewards Campaign

 


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Gambia: The Gambia's Economy Maintains Growth Momentum Amid Global
Uncertainty

Banjul — The Gambia's economy continues to demonstrate resilience and steady
recovery, with real GDP growth reaching 5.7% in 2024, according to the World
Bank's Fifth Economic Update for The Gambia. This performance reflects the
country's ongoing recovery from the COVID-19 pandemic and its ability to
navigate persistent global economic headwinds.

 

The report highlights that growth was supported by robust activity in the
services sector, increased public and private investment, and a moderation
in inflation. These factors contributed to improved household consumption
and a reduction in extreme poverty. However, structural challenges and
external vulnerabilities continue to weigh on the country's economic
trajectory.

 

"The sustained improvement in The Gambia's economic performance is a
testament to the country's ongoing efforts to strengthen macroeconomic
management and stimulate domestic demand," said Franklin Mutahakana, World
Bank Group Resident Representative for The Gambia. "The expansion in
services, coupled with increased investment and consumption, and a
moderation in inflation, have all contributed to this positive trajectory.
Going forward, it will be important to address structural bottlenecks and
mitigate external risks to ensure that growth remains inclusive, resilient,
and sustainable."

 

 

 

In 2024, inflationary pressures eased, supported by a firm monetary policy
stance and declining global commodity prices, with the Central Bank of The
Gambia maintaining its policy rate at 17% to help stabilize prices. This
contributed to improved household purchasing power, alongside rising labor
incomes and increased remittance inflows, which collectively helped reduce
poverty levels. At the same time, stronger domestic revenue mobilization has
helped sustain a gradual decline in public debt. However, with debt levels
still elevated at 71.2% of GDP, the report underscores the importance of
maintaining fiscal discipline and enhancing debt management to safeguard
economic stability and support sustained growth.

 

"The Gambia's ongoing economic recovery is a positive sign of resilience and
progress," said Ephrem Niyongabo, World Bank Economist for The Gambia and
lead author of the report. "To sustain this momentum, it is important to
continue strengthening public debt management. Maintaining debt at
sustainable levels through sound fiscal policies will help ensure that
public borrowing supports development priorities without compromising
long-term economic stability."

 

Looking ahead, The Gambia's medium-term outlook remains encouraging, with
growth projected to average 5.6% through 2027, underpinned by broad-based
sectoral activity and a continued focus on fiscal and macroeconomic
stability. To sustain this trajectory, it will be essential to build on
recent progress by addressing remaining structural gaps and enhancing
resilience to external shocks. The report emphasizes the importance of
inclusive development, particularly through targeted efforts to reduce
regional disparities and expand access to essential services and
infrastructure for the most vulnerable populations.

 

Read the original article on World Bank.

 

 

 

 

Somalia: Somali Envoy Hails Arab League's Debt Waiver As 'Historic
Achievement'

Somalia's Ambassador to Egypt and Permanent Representative to the Arab
League, Ali Abdi Aware, on Tuesday praised the Arab League's decision to
cancel the majority of Somalia's longstanding membership arrears, calling it
a "historic achievement" for the Horn of Africa nation.

 

Addressing the 164th session of the League's Council of Permanent
Representatives at its Cairo headquarters, Ambassador Aware expressed deep
gratitude to member states for their solidarity and support in waiving 75
percent of Somalia's accumulated membership debts, dating back nearly four
decades.

 

"We sincerely thank the Arab League and its member states for this decision,
which represents not only financial relief but also a powerful gesture of
political support and brotherhood," said Aware in his address.

 

 

The cancellation applies to debts accrued over 38 years in unpaid annual
contributions, a burden that Somali officials say has constrained the
country's full engagement with the regional bloc.

 

 

 

Ambassador Aware credited the development to sustained diplomatic engagement
by the Somali Embassy in Cairo, carried out under the guidance of Somalia's
national leadership. He said the move reflects the success of a concerted
foreign policy approach aimed at reinvigorating Somalia's role in regional
institutions.

 

"This outcome was not accidental. It is the fruit of deliberate and
consistent efforts in diplomacy, anchored in the vision and instructions of
our leadership," he said.

 

The debt relief comes as Somalia seeks greater integration within Arab and
international institutions, following years of conflict, institutional
fragility, and economic hardship.

 

 

The Federal Government of Somalia has in recent years intensified its
engagement with multilateral bodies as part of broader state-building and
recovery efforts.

 

The Arab League, which groups 22 member states, has supported Somalia on
various fronts including peacebuilding, economic development, and political
stabilization.

 

There was no immediate comment from League officials on whether additional
financial support or reforms to the bloc's funding mechanisms were being
considered following the Somali waiver.

 

Read the original article on Shabelle.

 

 

 

 

 

Nigeria: NNPC, TotalEnergies Sign PSC Agreement for Deepwater Blocks

The state-owned oil company explained that the contract is the first to
comprehensively cover both crude oil and natural gas exploration and
production.

 

The Nigerian National Petroleum Company Limited (NNPC Ltd), in partnership
with the TotalEnergies-Sapetro Consortium, has executed a Production Sharing
Contract (PSC) for Petroleum Prospecting Licences (PPLs) 2000 and 2001.

 

The NNPC Ltd in a statement on Monday night, said this marks a significant
milestone in Nigeria's upstream oil and gas sector.

 

 

The state-owned oil company explained that the contract is the first to
comprehensively cover both crude oil and natural gas exploration and
production.

 

 

The event, which took place at the Nigerian Upstream Petroleum Regulatory
Commission (NUPRC) Headquarters in Abuja on Monday, according to the
statement, signifies a major milestone in the federal government's efforts
to harness Nigeria's vast hydrocarbon resources responsibly and profitably.

 

Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, noted that the
significant event represents the first of its kind with high-impact
prospects that will improve energy security and drive Nigeria's economic
growth.

 

"This particular PSC is unique in many respects. It is the first PSC that
comprehensively covers its scope, both crude oil and natural gas. It is the
first PSC with robust gas terms including a profit gas fleet that
incentivises monetisation of non-associated gas," he stated.

 

 

He highlighted that the ceremony was not merely a contract signing, but a
powerful testament to the success of the Petroleum Industry Act (PIA) 2021
and a clear signal to the global investment community that Nigeria is indeed
poised for business.

 

Mr Ojulari emphasised NNPC Ltd's commitment to leveraging such partnerships
and expertise in deepening upstream operations to surpass the successes
achieved in previous deepwater projects, by applying cutting-edge technology
and high operational standards to ensure commercial viability and
sustainability.

 

Also speaking, the NUPRC Chief Executive, Gbenga Komolafe, said the award of
the two offshore blocks, spanning about 2,000 square kilometres, is a direct
product of a transparent, competitive, and reform-driven framework
introduced under the PIA 2021.

 

He also commended NNPC Ltd and the contractors, TotalEnergies (holding 80
per cent interest) and Sapetro (holding 20 per cent interest), for their
commitment to exploration and production activities in the country, citing
success in previous assets such as Egina and Akpo.

 

In his remarks, Managing Director/Chief Executive Officer of TotalEnergies
E&P Nigeria Limited, Matthieu Bouyer, described the signing as a
reaffirmation of TotalEnergies' deep and enduring commitment to Nigeria,
where the company has operated for over 60 years.

 

Mr Bouyer stated that the blocks, awarded through an open and transparent
bid process, represent the first international oil company (IOC) to secure
such deepwater assets in over 10 years.

 

The Managing Director of South Atlantic Petroleum Limited (Sapetro),
Chukwuemeke Anagbogu, expressed his delight in the partnership, noting that
the signing reaffirms Sapetro's alignment with the government's vision for
responsible resource utilisation, local content advancement, and inclusive
economic progress.

 

He added that the blocks provide a clear path to increasing reserves and
assuring long-term production growth, playing a vital role in sustaining
value creation for shareholders, stakeholders, and the nation.

 

According to the statement, the PSC includes provisions for signature and
production bonuses, a defined minimum work programme with performance
guarantees, cost recovery and profit-sharing rules, royalties and taxes, gas
utilisation to reduce flaring, and obligations for decommissioning,
environmental remediation, and host community development; all in line with
the PIA.

 

Read the original article on Premium Times.

 

 

 

 

 

 

Civil vs Structural vs Mechanical: Types of Consulting Engineers in Namibia
Explained

In Namibia’s rapidly developing built environment, consulting engineers play
a vital role in shaping infrastructure that is safe, sustainable, and suited
to the country’s diverse conditions.

 

Among the major specialisations, civil, structural, and mechanical engineers
are often at the forefront of public and private sector projects. While
their work sometimes overlaps, each type of consulting engineer brings a
distinct set of skills and responsibilities to the table.

 

Understanding the differences between these roles is essential for anyone
engaging in construction and infrastructure planning, or industrial
development.

 

Civil Engineers are the Infrastructure Architects

 

Civil consulting engineers are perhaps the most broadly involved in
infrastructure development . In Namibia, they are typically responsible for
the planning, design, and supervision of construction projects such as
roads, bridges, water supply systems, stormwater networks, and municipal
services.

 

Their work often begins with site assessments and feasibility studies,
continuing through to project design, tender documentation, and on-site
quality control.

 

Given Namibia’s arid climate and vast distances between urban centres, civil
engineers also focus heavily on water conservation systems, road durability
under extreme conditions, and sustainable land use.

 

In rural and semi-urban areas, civil engineers are essential to delivering
essential infrastructure for sanitation, irrigation, and water access -
issues that are central to long-term national development goals.

 

Structural Engineers are the Load-Bearing Specialists

 

While structural engineering is technically a sub-discipline of civil
engineering, it requires a highly specialised focus. Structural consulting
engineers  are tasked with ensuring that buildings, bridges, towers, and
other structures are safe, stable, and capable of withstanding both
environmental pressures and daily use.

 

In Namibia, structural engineers often work in collaboration with architects
and civil engineers to design the “bones” of a structure.

 

They determine the correct types of materials (such as reinforced concrete,
steel, or timber) and calculate how these materials will behave under
various loads. Earthquake resistance , wind shear, and foundation stability
are some of the many factors they must consider.

 

In urban areas like Windhoek and Walvis Bay, where commercial and
multi-storey buildings are more prevalent, structural engineers play an
increasingly important role in supporting the country’s economic growth
through safe and efficient design.

 

Mechanical Engineers are the Systems and Machinery Experts

 

Mechanical engineers in Namibia typically work on the design and integration
of mechanical systems within buildings and industrial environments. These
include heating, ventilation and air conditioning (HVAC), water pumps,
elevators, fire suppression systems, and renewable energy systems like solar
water heating or wind turbines.

 

In sectors such as mining, manufacturing, and agriculture - pillars of the
Namibian economy - mechanical engineers are responsible for designing,
maintaining, and upgrading machinery and equipment. Their expertise provides
operational efficiency, safety, and environmental compliance across a range
of industries.

 

Mechanical engineering consultants are particularly important in remote or
high-temperature areas, where energy efficiency and durability are critical
to long-term viability.

 

Conclusion

 

Civil, structural, and mechanical consulting engineers each contribute
uniquely to Namibia’s infrastructure and industrial landscape. Understanding
their distinct roles helps businesses, municipalities, and developers select
the right expertise for their projects, and provides better outcomes for the
nation as a whole.

 

 

 

 

Nigeria: UK Announces £5 Million Partnership With AGRA to Boost African
Agricultural Trade

The partnership, according to him, aims to support the Kampala declaration
and tap into the vast potential of Africa's agribusiness.

 

The United Kingdom (UK) has announced a £5 million partnership with Alliance
for a Green Revolution in Africa (AGRA) to boost agricultural trade and
strengthen African food systems.

 

Lord Collins of Highbury, Minister for Africa, Foreign, Commonwealth &
Development Office (FCDO), United Kingdom, made the announcement while
speaking at the ongoing Africa Food Systems Forum (#AFSForum2025) in Dakar,
Senegal, on Monday.

 

 

 

The partnership, according to him, aims to support the Kampala declaration
and tap into the vast potential of Africa's agribusiness sector, which
employs over half of the continent's workforce and contributes nearly 20 per
cent to its Gross Domestic Product (GDP).

 

 

"It gives me huge pleasure today to announce a new £5 million UK partnership
with AGRA, including working with the African Union. This funding will help
deliver the Kampala declaration supporting efforts to grow agricultural
trade and strengthen key food corridors across Africa.

 

"We know that Agriculture remains underinvested despite it employing over
half of Africa's workforce and making up nearly 20 per cent of its GDP. With
the global food market worth $7 trillion, this represents the opportunity
for Africa's agribusinesses," he said.

 

He further stated that the UK was inspired by Africa's response to the
climate crisis and its efforts to improve food systems.

 

"We meet at a critical time of real challenges, climate shocks, economic
uncertainty and declining aid are affecting lives across the continent. But
what stands out is Africa's response, decisive leadership, homegrown
solutions, and a renewed commitment to transforming agriculture," he added.

 

 

He noted that the Kampala declaration and the 10-year strategy are exactly
the kind of bold African-led frameworks that can drive lasting change,
adding that Africa is signalling its intent to shape its own future.

 

"The United Kingdom is proud to be a partner in these efforts. We are
committed to a new approach to working with Africa. An approach built on
long-term partnerships, mutual respect, and shared interests. Across all of
our consultations, we've heard a clear message.

 

"Countries want to diversify economies, get more value from natural
resources, and build resilience to global shocks. We've also heard the
desire to make sure people feel the benefit, especially through good jobs,
productive sectors like manufacturing and agri-businesses. The United
Kingdom welcomes these ambitions and is ready to support them. We've already
started work and look forward to sharing more later this year.

 

"We also want to help Africa meet growing global demand for food. For
example, British international investment has invested close to 32 million
pounds in cashew processing in Côte d'Ivoire," he said.

 

This, he said, is helping 230,000 farmers and creating close to 3,500 jobs.

 

"Our work with the Economic Community of West African States (ECOWAS) and
the Common Market for Eastern and Southern Africa (COMESA) is helping set up
platforms that bring together governments and businesses in rice and
creating new opportunities in horticulture. This is cutting down on imports
and creating new opportunities across Africa," he said.

 

In January this year, the African Union (AU) convened an Extraordinary
Summit in Kampala, Uganda. The summit culminated in the adoption of the
Kampala Declaration, which outlines a transformative strategy for
overhauling Africa's agrifood systems over the next decade.

 

Read the original article on Premium Times.

 

 

 

 

 

Africa: The Rising Stakes of Foreign Investment in Africa

With labour's contribution to economic growth steadily growing, Africa must
focus on improving inward financial flows.

 

In the early stages of development, economic growth is largely driven by the
contribution of labour. After that, capital and eventually technology
increase in relative importance. This happened with the Asian Tigers and
China when they were poor, reflecting the progression in growth drivers as
countries move towards prosperity.

 

For its 2025/26 financial year, the World Bank considers 22 African
countries to be low-income, with a gross national income (GNI) per person
equivalent to or below US$1 145. Economic growth in these countries
essentially comes from their better-educated, healthier and employed labour
force.

 

 

Then, as countries develop and enter middle-income status, the availability
and role of capital to boost manufacturing begin dominating, eventually
becoming more important for economic growth than labour or technology. That
generally applies to the 23 African countries the World Bank considers
lower-middle-income.

 

 

Fast forward, as countries settle into upper-middle-income status (Africa
has eight) and try to achieve sufficient velocity to become high-income. At
this stage, the role of technology in enhancing high-value service output
starts dominating.

 

Only Seychelles has escaped Africa's notorious middle-income trap.
Inadequate access to capital for manufacturing and technology advancement
largely explains lower-middle- and upper-middle-income countries' inability
to escape the trap.

 

 

Access to capital is vital for development. It enables countries to invest
in health, infrastructure and education, diversify from commodities, and
pursue a manufacturing-led growth path for sustained and rapid growth.

 

So, attracting foreign direct investment (FDI) at scale becomes crucial. To
this end, governments compete with one another on tax incentives, Special
Economic Zones, regulatory incentives, infrastructure development and
governance reforms.

 

With above-average FDI, countries like Senegal, Uganda, Rwanda, Niger,
Djibouti, Togo, Ethiopia, Benin and Côte d'Ivoire are projected to grow at
rates exceeding 6% - above global averages. In 2025, these are among the
world's fastest-growing economies.

 

Nigeria, Africa's largest economy, is however expected to grow at only 3.2%
in 2025. With an annual population increase of 2.6%, its income per capita
remains stagnant. In addition to poor governance and insecurity, its
notorious low levels of FDI (around 0.5% of GDP) are an important driver of
lacklustre growth.

 

 

Other African countries are struggling, including Equatorial Guinea, South
Africa, Tunisia, Lesotho, Gabon, Angola, and the Central African Republic.
All are growing slowly, and except for Gabon, have low or negative FDI
inflows. Gabon attracts modest investment to its oil and gas sector despite
the 2023 coup and subsequent instability.

 

Gabon reflects the history of most FDI to Africa, which has been in oil and
gas, such as in Mozambique, Tanzania, Uganda and Namibia. These inflows have
limited forward and backward linkages to other sectors like agriculture and
manufacturing.

 

Once fossil fuels investments are excluded, it's clear that most FDI flows
to upper-middle-income African countries, which is why development-oriented
aid is so important for low- and lower-middle-income Africa. USAID provided
around 26% of aid to Africa, and its dissolution has increased the
significance of FDI, remittances and better domestic revenue mobilisation.

 

Much can be done to improve domestic revenue generation, particularly
through technology. Yet, Africa's average tax-to-GDP ratio is only 16% (with
a large spread when comparing rates per country), compared to 19.1% in
Asia-Pacific, 21.5% in Latin America and the Caribbean, and 34% across
Organisation for Economic Co-operation and Development nations.

 

Using the International Futures forecasting platform, African Futures'
updated Financial Flows theme examines the effect on Africa of increased
FDI, remittances and aid in a post-Donald Trump world, compared to a
business-as-usual forecast.

 

In 2023, FDI inflows represented 3% of gross domestic product (GDP). The
business-as-usual forecast shows a modest increase to 3.6% of GDP by 2043 as
Africa's population and market growth steadily attract more investment.
Under the Financial Flows scenario, inward FDI is modelled to increase more
aggressively to 5.3% of GDP (US$351 billion vs US$230 billion).

 

Although inflows in the Financial Flows scenario are much larger, Africa's
stock of FDI in 2043 is still significantly below that of South America in
absolute terms, and slightly less than half if expressed as a percentage of
GDP.

 

In this scenario, Africa's GDP would be US$243.5 billion larger in 2043 than
the business-as-usual forecast. Average GDP per capita would increase by
US$160, with Seychelles and several upper-middle- and lower-middle-income
countries doing exceptionally well.

 

Among the types of inward financial flows modelled, FDI outperforms aid and
remittances in improving productivity, especially in countries with skilled
labour, strong institutions and deeper financial markets. Because FDI
generally advantages skilled labour, its impact on extreme poverty in the
Financial Flows scenario is limited to a one percentage point decline below
the business-as-usual forecast.

 

Upper-middle-income countries simply gain more from FDI than poorer African
countries. Furthermore, most FDI in Africa still goes to extractives such as
minerals, gas and oil, although that is changing.

 

However, the African Continental Free Trade Area's (AfCFTA) full
implementation generally does best when comparing the various sectors
modelled on the African Futures website. Except for aid, positive signs on
larger inward financial flows abound.

 

Intra-African investment is rising, especially from Kenya, Nigeria and South
Africa, in areas such as IT, finance and manufacturing. This trend will
likely accelerate with the AfCFTA's implementation, which the World Bank
suggests could boost FDI by up to 120%, with intra-African investment also
rising by about 85%.

 

Emerging economies like China, the Gulf states and India are all growing
their investments in Africa's energy, infrastructure and logistics,
reshaping the continent's economic and geopolitical landscape.

 

As global competition intensifies, African countries can increasingly
negotiate investment terms that serve their long-term goals. Investment in
agro-processing, renewable energies, manufacturing and digital
infrastructure tends to enable technology transfer, generate more jobs and
build economic resilience.

 

African governments must improve conditions to absorb and retain capital by
offering a favourable investment climate, policy stability, and ease of
doing business. Investments should align with national priorities and
structural transformation goals, following the East Asian example of
leveraging FDI for technological upgrading and industrialisation. Countries
like Egypt, Senegal, Morocco, Ethiopia, and Zambia are doing well, but many
are still struggling.

 

FDI can be a powerful tool when managed strategically and in tandem with
robust domestic reform.

 

Africa's development trajectory is both promising and precarious. With the
contribution of labour to economic growth steadily improving, Africans
should mobilise more inward financial flows, particularly FDI. At the same
time, they should reduce the costs of remittances and lobby for aid to poor
countries, which typically struggle to attract FDI.

 

This article was first published in Africa Tomorrow, the blog of the ISS'
African Futures and Innovation programme.

 

Jakkie Cilliers, Head, African Futures and Innovation, ISS Pretoria

 

Read the original article on ISS.

 

 

 

 

 

 

Liberia: Arcelormittal Liberia Funds Construction of Police Depot in Zolowee

Zolowee — ArcelorMittal Liberia (AML), in partnership with the Liberia
National Police (LNP), has broken ground for the construction of a modern
police depot in Zolowee, Nimba County. The project, fully financed by AML,
is expected to be completed by December this year, after which police
officers will be deployed to the area.

 

The initiative follows a request from residents of Zolowee during a 2024
visit by Police Inspector General Gregory Coleman. At the time, the
community faced heightened insecurity risks around the mines and reported
being unfairly stigmatized as a "troublemaking town." Residents stressed
that criminal activities, including fuel theft, were carried out by
outsiders allegedly colluding with some equipment operators at the mines.
They recommended the deployment of police officers to enforce the law and
restore the town's reputation.

 

 

The groundbreaking ceremony, held on September 1, 2024, drew participation
from high-level officials including Assistant Commissioner of Police and
Nimba County Commander Mendin Larmie, AML Security Manager Francis Bangura,
representatives of the Security Expert Guard Agency of Liberia (SEGAL),
local chiefs, AML's Department of Sustainable and External Relations, staff
of AML's Infrastructure team, and representatives of A & E International,
the contracted construction company.

 

Welcoming guests, Zolowee Town Chief Roland Dolo expressed gratitude and
relief:

 

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"We gave this land ever since and we have been expecting this project.
People have been lying on Zolowee, and we want a depot here to see if it is
Zolowee people really doing what they are accused of. This project is
overdue."

 

 

ACP Larmie thanked AML for funding the project and highlighted how Zolowee
had been misrepresented.

 

"Because these people live in Zolowee and Gbapa, they are branded as
troublemakers. The fact that the community people have willingly provided
this piece of land for the Government of Liberia to construct a police depot
is a clear manifestation that the people of Zolowee have been
misrepresented," he said.

 

He assured residents that the police would be "a friend to the people,"
working to maintain peace and protect citizens from harassment and
intimidation.

 

AML Security Manager Francis Bangura noted that the idea of building a
police station was conceived in April 2024, emphasizing the company's role
as a development partner.

 

"ArcelorMittal wants to see the people of Zolowee, Makinto, Gbapa and
surrounding towns living in peace. AML cannot exist without the support of
the surrounding towns," Bangura said, commending community leaders for
donating land for the project.

 

He stressed that while the police will oversee the project, AML is covering
all costs and will provide additional support if needed.

 

According to AML's Superintendent for Construction and Infrastructure,
Jenkins W. Teaway, the project is a joint effort between AML's Security
Department, the Community Relations Section, and the LNP. In line with AML's
employment policies, most workers will be recruited from Zolowee.

 

The depot will meet government and AML standards, featuring three detention
cells (for juveniles, females, and males), a Chief Inspector's office, a
Charge of Quarter office, and other essential facilities.

 

Prince Zee, Manager of A & E International, assured stakeholders that with
materials and manpower in place, the project will be completed and dedicated
in December 2024.

 

Beyond this initiative in Zolowee, ArcelorMittal Liberia has a record of
supporting development projects across its concession areas in Nimba, Bong,
and Grand Bassa counties. These include investments in housing renovation,
water and sanitation projects, scholarship programs, and road maintenance,
which collectively reinforce the company's reputation as a responsible
investor committed to improving the welfare of host communities.

 

Read the original article on FrontPageAfrica.

 

 

 

 

 

Uganda: Museveni Calls for Integrity, Patient Capital As He Opens Uganda
Devt Finance Summit

President Museveni has emphasized the central role of development finance
institutions in Africa's transformation, urging planners and financiers to
balance infrastructure spending with "results-generating projects" that draw
millions of Ugandans into the money economy.

 

The president, accompanied by the First Lady and Minister of Education and
Sports, Maama Janet Kataaha Museveni, made the remarks while officially
opening the inaugural Uganda Development Finance Summit at the Commonwealth
Resort Hotel, Munyonyo.

 

The two-day conference, hosted by the Uganda Development Bank (UDB),
convened policymakers, government leaders, financiers, the private sector,
and international partners to deliberate on how development finance can
accelerate Africa's social and economic transformation.

 

 

Citing Uganda's fiscal choices such as diverting resources to the Parish
Development Model, Museveni urged policymakers to prioritize investments
that boost productivity over those that merely provide utility.

 

 

 

He stressed that cheap capital, electricity, and reliable transport are the
backbone of industrial growth, criticizing past technocrats for focusing on
social infrastructure while neglecting economic enablers like railways and
power.

 

Tracing the origins of UDB, Museveni said it was established to provide
patient capital for commercial agriculture, manufacturing, services such as
tourism and ICT, and artisanship.

 

He reiterated that wealth creation depends on these four sectors, while
broader development benefits everyone.

 

He further called for African market integration, value addition to local
resources, and affordable credit to drive industrialization.

 

 

The president also warned against exploitative lending practices by
commercial banks, arguing that UDB remains the solution for financing
productive sectors.

 

Finance Minister Matia Kasaija noted that Africa remains one of the
fastest-growing regions globally, projecting Uganda's GDP to grow from
nearly $50 billion in 2023 to $500 billion by 2040, anchored on
agro-industrialization, tourism, mineral development, and ICT innovation.

 

UDB Managing Director Dr. Patricia Ojangole underscored the importance of
national development banks in financing agriculture, manufacturing, energy,
education, and health, noting that over 80% of UDB's lending goes to
productive sectors.

 

Board Chairman Geoffrey T. Kihuguru stressed that development banks are
uniquely positioned to expand inclusion, support underdeveloped regions, and
drive industrialization amidst global economic challenges.

 

The summit was attended by Cabinet ministers, Members of Parliament,
diplomats, civil society, and private sector representatives.

 

Read the original article on Nile Post.

 

 

 

 

 

Africa Must Adopt AI to Catch Up With Digital Devt, Says Communication
Minister

Abuja — The Minister of Communications, Innovation and Digital Economy, Dr.
Bosun Tijani, has urged African countries to adopt Artificial Intelligence
(AI), or risk been left behind in digital development.

 

The minister stated this on Monday in Abuja at the 2025 Gulf Information
Technology Exhibition (GITEX) with the theme: "Building Continental Digital
Foundations for Equitable AI Development."

 

He said the continent should invest in digital infrastructure to support AI.

 

 

The minister stated: "If we are not delivering, AI will widen the gap
between nations around productivity. Countries that are already ahead will
move even faster and those that are still catching up will find it even more
difficult to catch up.

 

 

"If we cannot close this gap, Africa risks becoming a continent of
consumers, importing food, importing services, and importing innovation
instead of producers and leaders; and we know that is not the Africa that we
want.

 

"AI can disrupt jobs, but it will also create new ones. We must prepare our
youth now with initiatives like Clean Energy for Talent, and similar
projects across the continent. This is the only way we can build a workforce
that is future-ready.

 

"In South Africa, satellite imaging and drone technology combined with AI
models are now allowing farmers to monitor crops in real time and to respond
to threats way faster.

 

"In a number of countries across our continent, many farmers still rely on
guesswork and traditional practises because they lack access to these tools.

 

 

"The result, of course, is that farmers elsewhere are producing four to five
times more food on the same line.

 

"These innovations mean that while workers elsewhere are becoming productive
with AI, some of our own economies risk losing competitiveness if we do not
adopt the same tools."

 

He noted that

 

According to him, the central challenge is that while AI is becoming the
engine for productivity, "I am waiting for our nation's attempt to also
adopt this technology."

 

Speaking earlier, the Executive Vice President (EVP), of Dubai Trade Centre,
Trixie LohMirmand, said that GITEX was not just an exhibition but a global
digital ecosystem of diverse stakeholders cutting across industries,
geographical areas and continents of the world.

 

LohMirmand explained that Nigeria was hosting GITEX because there was the
need for a strong partnership between the public and private sectors, adding
that the landscape was evolving in a mysterious space.

 

"We want Nigeria not to be an outlier or on the fringe, we want Nigeria to
be having a firm seat at that global table in the new digital AI economy.

 

"Nigeria is not defined by the headwinds or the challenges and the macro
challenges that is out there. It is defined by the scale of opportunities of
tomorrow," he said.

 

The Director-General of the National Information Technology Development
Agency (NITDA), Kachifu Abdullahi said that African countries would require
building capabilities in proper frameworks, develop infrastructure and
building human capital to lead in AI revolution.

 

"We need to look at human capital development, Africa has the talent and we
have the digital native population and we can position ourselves to be a
leader in this revolution," he said.

 

Read the original article on This Day.

 

 

 

Rwanda: How Rwanda's Upcoming Artificial Lake Will Benefit Multiple
Districts

Eight districts will benefit from the Nyabarongo multi-purpose dam, now
under construction, which will have a capacity of 800 million cubic metres
and create an artificial lake formed by damming the river's water.

 

ALSO READ: Nyabarongo hydro power station will give Rwanda a competitive
edge

 

Officials explained that once the dam is put in place, a new lake will be
created, stretching 67km all the way to Vunga, transforming the landscape of
Nyarugenge, Rulindo, Gakenke, Muhanga, Kamonyi, Nyabihu, Ngororero and
Musanze districts.

 

 

It will be like any other lake in Rwanda and all possible economic and
recreational activities will be allowed on the lake, the officials added.

 

 

 

In 2020, the governments of Rwanda and China signed a framework agreement
that will allow China, through China Exim Bank, to extend a concessional
loan worth $214 million to facilitate the construction of the Nyabarongo II
Hydropower Plant.

 

The Nyabarongo dam is currently halfway completed, said Jean De Dieu
Uwihanganye, the Minister of State for Transport in the Ministry of
Infrastructure.

 

He explained that the dam, which will form a lake, will be double the size
of Lake Muhazi.

 

"The Nyabarongo Dam is currently halfway completed and is expected to be
fully operational in 2028, generating 40 MW and creating a water reservoir
of 800 million m³ (the 4th biggest water storage in Rwanda after Kivu,
Burera - same size as Ruhondo)," he explained.

 

 

"The opportunities are endless, from maritime transport, real estate, water
sports to irrigation possibilities that will revolutionise the way we
connect in Kigali, the North, South, West and beyond," he added.

 

ALSO READ: Nyabarongo hydro power plant to cost $214 million

 

Felix Gakuba, the Managing Director of Energy Development Corporation Ltd,
told The New Times that the dam will be a good facility for the
transportation of goods and people from the northern part of the country to
the city of Kigali and vice versa.

 

"This is because the water body will border all five districts including
Muhanga, Kamonyi, Gakenke, Nyabihu and Ngororero. Other neighbouring
districts can have easy access as well," he explained.

 

"The tourism and real estate sectors will also benefit from this water body,
as the surrounding community and investors will want to invest in hotels and
tourism activities all around the lake to be created," he said.

 

 

The dam is designed as a multi-purpose dam, especially for flood control,
irrigation, water supply and power generation.

 

ALSO READ: Nyabarongo II hydroelectric dam construction works force road
closure

 

Nyabarongo II Hydropower Plant will generate 43.5 MW to be injected into the
national grid.

 

"Today, the peak demand is 260 MW and 43.5 MW will be a boost."

 

China's Sinohydro was awarded the engineering, procurement, and construction
contract for the project.

 

The company is also responsible for the installation of the 110 kV
transmission line.

 

ALSO READ: Rwf100 billion dam to cut power shortage

 

"The dam will control flooding and water flow downstream and hence the
marshland of about 20,000 ha will be reclaimed for agricultural activities,"
he noted.

 

He explained that farmers from downstream districts will benefit, since the
water flow will be regulated and released in a controlled manner to support
their crops during both the dry and rainy seasons.

 

"Those in the upstream district will benefit in one way or another,
especially through using the water bodies to transport their harvests to the
market, fish farming, among others."

 

Gakuba said some of the residents affected by the dam construction have
already been compensated and relocated.

 

ALSO READ: Six dams to help cope with climate quirks

 

"Only a few of them who didn't have completed files are being helped to
complete the requirements and get paid. For those who will be affected by
the dam reservoir, their properties and livelihoods are being assessed, and
they will be housed in modern resettlements to be created nearby and
provided with all primary facilities such as schools, health facilities and
others. They will also benefit from economic activities linked with the dam
to be created," he said.

 

The relocation of people who will be affected by the lake is being done in
two phases.

 

Some people have already been compensated and relocated to new areas,
especially those who had to move quickly at the start of the project, in
areas where the dam is currently being constructed.

 

The second group comprises people who will be affected by the reservoir
itself. These residents are currently being surveyed to assess their assets
and understand their way of life so they can be properly resettled.

 

"This process is being carried out quickly to ensure they are resettled
before the lake is filled.

 

Regarding environmental protection, assessments conducted during the project
design stage show that the lakeshore will be carefully preserved. Trees such
as bamboo and others that prevent soil erosion and protect water bodies will
be planted along the banks.

 

Moreover, in accordance with the law, a buffer zone of 50 metres from the
lake has been established to ensure proper conservation of the lake and its
aquatic life."

 

"Once the dam is created, it's like any other lake we have in Rwanda. All
possible economic and recreational activities will be allowed on the lake,
including but not limited to fishing, water sports, transportation, hotels
on the lakeshore, etc.," he added.

 

He said the government is closely monitoring the project, stating that the
contractor must ensure that the schedule is implemented as planned, and that
payments are made on time to minimise delays that may arise due to cash flow
issues.

 

Read the original article on New Times.

 

 

 

 

 

 

Nigeria: 40th Anniversary - Ecobank Nigeria Launches New Edition of Super
Rewards Campaign

Ecobank Nigeria, a subsidiary of the leading pan-African banking group, has
announced the launch of its Super Rewards campaign in celebration of the
Group's 40th anniversary.

 

As part of the campaign, more than N60 million in cash rewards has been
earmarked for loyal customers. The campaign will run from September 2025
through January 2026.

 

Over the five-month period, a total of 914 customers will be rewarded with
various cash prizes amounting to N61.2 million, in addition to enjoying a
range of benefits that comes with banking with Ecobank.

 

 

 

Announcing the launch in Lagos, the Head of Products & Analytics, Consumer &
Commercial Banking at Ecobank Nigeria, Victor Yalokwu, explained that the
campaign is designed both to commemorate the Group's four decades of service
in Africa and to reward customer loyalty.

 

 

According to Yalokwu, "This year's campaign is a special celebration of
Ecobank Group's 40 years of operations across Africa and show appreciation
to our customers by rewarding their loyalty even as we deliver first-class
banking services to them. The campaign is open to new and existing
individuals, businesses (including SMEs and schools), and youth (students)
customers nationwide, including those who reactivate dormant accounts and
meet specified deposit and transaction requirements. Monthly draws will be
held, ending with a grand finale draw in January, 2026."

 

Customers stand a chance to be rewarded with monthly cash prizes, stipends,
education scholarships, business funding, and other lifestyle-enhancing
rewards. The breakdown of the rewards includes:

 

 

Individual accounts: 420 customers from the monthly draws will get N16.8
million, with eight customers getting the grand prize of N8 million in
January.

 

Business accounts: 420 customers from the monthly draws will get N16.8
million, with four customers getting the grand prize of N16 million to
support their businesses.

 

Student accounts: 50 customers will be rewarded during the monthly draws,
each receiving N40,000 (totalling N2 million), with four youth customers
taking the grand reward, receiving education grant of N400,000 each
(totalling N1.6 million).

 

Yalokwu emphasized the simplicity of the qualification process to encourage
broad participation.

 

New individual customers must open an account with a minimum of N10,000 and
maintain it for 30 days to qualify for monthly draws. For the grand prize,
customers must maintain a minimum deposit of N40,000 for three consecutive
months.

 

Business customers need to open accounts with at least N40,000 and maintain
the balance similarly, with grand prize qualifications requiring deposit
growth of at least N400,000.

 

All participants must transact through Ecobank's digital channels--including
the Ecobank Mobile app, USSD (*326#), Ecobank Business app, OMNIPLUS,
internet banking, or debit card.

 

Monthly draw eligibility requires a minimum of four transactions, while
grand prize qualification requires 12 transactions. Each deposit increment
of N10,000 (individual) or N40,000 (business) increases chances to earn
rewards.

 

Prospective customers can open accounts via the Ecobank Mobile app, while
customers with dormant accounts can reactivate by visiting
www.ecobank.com/ng/personal-banking.

 

"We encourage everyone to join and experience the benefits of banking with
Ecobank, while getting rewarded for their loyalty," Yalokwu concluded.

 

Read the original article on This Day.

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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

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

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INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


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

 


 

 


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

 


 

 

 

 

 

 

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