Major International Business Headlines Brief ::: 17 September 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  17  September  2025 

 


                                                                                  

 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  South Africa: Mfuleni Taxi Users Affected by Route Ban

ü  South Africa: Wild Coast Communities and Environmental Organisations Optimistic as Judgment is Reserved in Shell Case

ü  Nigeria: Our Drivers Earn More Than Graduates - Dangote

ü  Nigeria: Afriland Properties Addresses Fire Incident At Its Towers

ü  Nigeria: Dangote Narrates Experience in Uber Taxi

ü  Ethiopia: Residents of Oromia Region Express Joy Over Inauguration of GERD

ü  Nigeria: Dangote Refinery Delivers First U.S. Petrol Export to 2 Global Oil Traders

ü  Nigeria: Lawmaker Demands Continuous Audit of Special Economic Programme

ü  Nigeria: Reforms in Oil, Gas Sector Have Delivered $18bn Fdps in 2025 - NUPRC

ü  Africa: Huawei Digital Power - Committing to Quality for Africa's Green Energy Transition

ü  GSK pledges $30bn US investment as UK's pharma woes deepen

ü  New AI deal could rapidly boost UK economy, says Microsoft boss

ü  Why the US is expected to cut interest rates

ü  Trump clashes with Australian journalist over business deals in office

ü  Deal is done to keep TikTok in the US, says Trump

 


 <mailto:info at bulls.co.zw> 

 


South Africa: Mfuleni Taxi Users Affected by Route Ban

Some taxi users in Mfuleni have raised their frustrations with the shutdown of a route to Somerset West, reports EWN. At least 10 taxi routes between Mfuleni and Khayelitsha to Somerset West, Lwandle, and Nomzamo have been closed due to violence. This follows deadly attacks on taxi operators and commuters linked to a dispute between taxi associations, the Cape Amalgamated Taxi Association (CATA) and the Cape Organisation for the Democratic Taxi Association (CODETA), over these routes. Metrorail and Golden Arrow have been brought in to provide extra capacity. The shutdown will remain in effect for the next 30 days or until the warring taxi associations reach a peace agreement.

 

Tiffany Meek, accused of murdering her 11-year-old son Jayden-Lee, is set to appear in the Roodepoort Magistrate's Court, reports SABC News. Meek was denied bail in July after the state argued she killed her son and tried to cover it up. The National Prosecuting Authority (NPA) spokesperson Phindi Mjonondwane has said that the court is expected to be updated on the progress of the investigation.

 

 

Lawyers representing communities on the Wild Coast have said that their dignity would be affirmed by consultation from oil and gas giant Shell before it explores their land for mining, reports EWN. The communities and environmental groups approached the Constitutional Court to challenge a Supreme Court of Appeal (SCA) ruling that allows Shell to bring an application for seismic exploration. They have raised concerns about potential sea contamination from seismic blasting and accused the companies of dismissive consultation practices. Lawyer Tembeka Ngcukaitobi said that the case is a lesson for future projects, warning that companies cannot override community interests without judicial pushback.

 

 

More South African news

 

 

 

 

 

South Africa: Wild Coast Communities and Environmental Organisations Optimistic as Judgment is Reserved in Shell Case

16 September 2025, Johannesburg: On Tuesday, judgment was reserved in the Constitutional Court case brought by communities along the Wild Coast and environmental organisations against oil companies, Shell and Impact Africa. Both planned to explore for oil and gas off the coastline of the Wild Coast based on an exploration right received in 2014.

 

Wild Coast communities and environmental organisations approached the Constitutional Court arguing that an order of  the Supreme Court of Appeal  (SCA) allowing Shell to renew its exploration right was incorrect and should not stand. In 2022, the High Court found the right to be unlawful and halted the seismic exploration. Shell, Impact Africa and the Minister of Mineral Resources and Energy appealed this judgment, and Shell and Impact Africa applied to renew the exploration right for the third and final time.

 

In May last year, the  SCA  agreed with the High Court judgment, but the SCA took the unusual step of providing Shell an opportunity to keep its unlawful right alive through the renewal process - and suspended the High Court's order setting aside the right, until such time as the a decision is made on the renewal application.

 

 

A full day of hearings ended with an air of optimism, as arguments on just and equitable remedy took centre stage. Wild Coast communities and environmental organisations argued that the SCA judgment was not "just and equitable." An important aspect of the case centred on the issue of the lack of meaningful public participation before the right was granted.

 

In the Constitutional Court, an important argument was raised about when public participation can happen - at the stage when the right is being renewed, or should it have happened already when the right was first applied for. If Shell and Impact Africa are allowed to continue with their renewal of their exploration right, would public participation at this late stage effectively remedy the original deficit?

 

 

Counsel for the communities argued vigorously that suspension of the High Court order constituted an unjustifiable dismissal of the gravity of the rights violated, and that the order setting aside the right should be upheld. Adv Nick Ferreira, representing the environmental organisations, argued that the appropriate remedy by the SCA would have been to dismiss the appeal and uphold the High Court's ruling, saying that we cannot allow this Court to be "a platform for unpleaded submissions and for turning back the hands of time". The community objections were based on the defense of their heritage and ancestral lands, with Adv Tembeka Ngcukaitobi SC emphasising that dignity requires that communities have a platform to express these concerns.

 

If the Court was inclined to make provision for a new consultation process, Ferreira and Ncgukaitobi argued =a proper restoration of these rights can only be achieved through compelling Shell and Impact to commence their application from the beginning.

 

 

Shell, Impact Africa, and the Minister of Mineral Resources argued that allowing public participation during the renewal process, by interpreting the legal requirements read together with the SCA judgment, should suffice in curing the initial inadequacies of their exploration right application, and be sufficient to remedy the infringement of Constitutional rights and environmental laws.

 

Shell's Counsel, Adv Adrian Friedman, argued that the Constitutional Court has the power to change the terms of the SCA remedy, and "panelbeat the SCA order" to ensure proper consultation in the renewal process.

 

Adv Ngcukaitobi said regarding Shell's failed consultation process, "How can they avoid consulting with my clients? Everyone in the industry accepts that the renewal is not the place for consultation." He went on to emphasise that corners were cut during Impact Africa's consultation process at the expense of communities.

 

Adv Nick Ferreira concluded by asking the rhetorical question: Why are Impact and Shell so keen for this Court to "panelbeat" the SCA ruling? He said that the answer is obvious - they don't want to have to go through the onerous process of consultation required by the law. "They want the easy way out."

 

Quotes:

 

"Our advocates did a great job of reminding everyone that this case is about the dignity of our people - the dignity that comes with participation in decisions that directly affect us. And furthermore, that this participation must come at the beginning of the process of a company applying for an exploration right. We have high hopes that the court will affirm our dignity by setting aside the application right, and not pander to the attempts of Shell and Impact Africa to assert economic gain over the dignity, livelihoods and human rights of our coastal fishing communities." - Sinegugu Zukulu, Sustaining the Wild Coast.

 

"I'm hoping we win this case, and Shell withdraws. We need the government to hear the voices of the community.  Our ocean is not for sale - it's our sacred place, we live and eat from it." - Fefekazi Nozaza, from the Port St Johns community.

 

"We are hopeful that the Constitutional Court will hear the plea for Justice from the communities on the Wild Coast. This coastline means so much to so many people in South Africa. It is a source of their livelihoods, and of a sacred, spiritual and cultural connection to their ancestors and their human dignity, and much more that is of intangible, incalculable value. For Shell, its only value lies in the profit they can extract from its rich waters. This should never be allowed to trump the human and environmental rights of our people." - Delme Cupido, Director at Natural Justice.

 

" It is important for companies, in particular powerful multinational corporations, to carry the consequences of their actions. The SCA's order potentially gives Shell a free pass despite dismally failing to comply with what the law requires for exploration rights. That is not the message we should be sending to corporations, in particular those in the business of fossil fuel extraction. Not only the future of the Wild Coast communities, but of the whole country, depends on it." - Wilmien Wicomb from the Legal Resources Centre.

 

"Today, the Apex Court had the challenging opportunity of balancing people versus profit. We've seen this all before. But, this time, it feels different. Win or lose, lifeline remedy or not: this case has already had a catalytic impact on public participation processes for new mining related applications, and for that, these courageous communities will go down in history as the ultimate winners in the battle for the soul of South Africa's oceans." - Ricky Stone, Cullinans and Associates.

 

"For too long, "big oil" has undertaken cursory public engagement, or side-stepped the process completely and deceptively, making the engagement anything but "meaningful". Today the Constitutional Court heard from counsel that using "legal engineering" (words of Justice Mothopo) does not absolve exploration and prospecting companies from discharging the duty of full and proper meaningful engagement. This is the only way to give legitimacy and credibility to a permit or licence - a process that recognises and respects that the livelihoods, lifestyle, cultural observations and dignity of our people cannot be underplayed or dismissed." - Eugene Perumal, Greenpeace Africa.

 

"The march and singing with different organisations outside the courtroom demonstrated the importance for coastal communities of being part of the Constitutional Court case today. People from fishing communities across the country had the chance to share their different struggles." - Siyabonga Ndovela, Wild Coast resident

 

"Today was a pivotal day for Wild Coast communities, a day for their struggle against oil and gas giants to be heard by the highest court in the land. After rigorous legal argument in the court, and the voices of communities ringing loudest outside the court, we trust that the Constitutional Court will put human rights above corporate greed to uphold our Constitution." - Melissa Groenink-Groves, Natural Justice

 

 

 

 

 

Nigeria: Our Drivers Earn More Than Graduates - Dangote

"Our drivers earn more than graduates. If you look at what they earn in a month, it's almost four times the national minimum wage," Mr Dangote said.

 

Aliko Dangote, founder and president/chief executive of the Dangote Group has revealed that his company's drivers earn significantly more than graduates.

 

Mr Dangote, in a video shared on the TVC X handle on Tuesday, made this known in reaction to the allegations made by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).

 

NUPENG had recently accused Mr Dangote and Sayyu Aliu Dantata of engaging in alleged anti-union practices. The union claims the businessmen are trying to monopolise Nigeria's downstream oil and gas distribution while suppressing workers' rights.

 

 

At the time, NUPENG said its members would commence a nationwide strike from Monday, 8 September in protest against what it described as anti-union labour practices, linked to the deployment of newly imported Compressed Natural Gas (CNG) trucks by the Dangote Refinery, for direct distribution of petroleum products.

 

NUPENG, whose membership includes petrol tanker drivers, in a statement jointly signed by its President, Williams Akhoreha, and General Secretary, Afolabi Olawale, alleged that the drivers recruited for the CNG trucks are being forced to sign undertakings not to belong to any existing union in the oil and gas industry.

 

At the time, the Nigerian Association of Road Transport Owners (NARTO) expressed support for NUPENG in its ongoing struggle against the Dangote Group.

 

 

NARTO National President, Othman Yusuf, in a statement, said it rejected Dangote's plan for free distribution of petroleum products, citing its unsustainability and potential to eliminate independent transporters who operate over 30,000 trucks across the country.

 

Similarly, the Nigeria Labour Congress (NLC) backed NUPENG as its president, Joe Ajaero, accused the Dangote Group of "exploiting Nigerian workers while disregarding their constitutional rights."

 

Dangote reacts

 

Speaking in the video, Mr Dangote said the launch of the trucks didn't stop anyone from their work, noting that joining NUPENG should be voluntary.

 

According to him, his drivers earn almost three to four times the national minimum wage, with some earning more than many graduates.

 

He emphasised that the trucks his company launched will create 24,000 jobs, with each truck supporting about six people, noting that after five years of accident-free driving, drivers can apply for housing loans.

 

"The trucks we launched didn't stop anyone from their work. We hear there will be a loss of jobs. Will our tankers be driven by robots? Every truck has about six people.

 

"So these trucks they are fighting over will create 24,000 jobs. What we are saying is that our salary is almost three or four times their own. After five years of free accidents, a driver can apply and get a house loan.

 

"Our drivers earn more than graduates. If you look at what they earn in a month, it's almost four times the national minimum wage," Mr Dangote said.

 

Read the original article on Premium Times.

 

 

 

 

Nigeria: Afriland Properties Addresses Fire Incident At Its Towers

Afriland Towers, a commercial property in one of Lagos Island's busiest districts, houses offices and businesses.

 

Afriland Properties Plc confirmed on Wednesday that a fire broke out at its headquarters, Afriland Towers, on Broad Street in Lagos Island, a day after panicked workers smashed windows for air as smoke swept through the six-storey building.

 

The company said in a statement by its Head, Marketing and Corporate Communications, Chukwunonso Okafor, that the blaze started in the building's inverter room before smoke quickly filled multiple floors, including emergency exits, even as evacuation procedures were being observed.

 

 

"From the moment the incident was reported, the Federal Fire Service, Lagos State Fire Service and other emergency services were promptly alerted and on the scene to contain the fire and coordinate rescue efforts. Their swift intervention was instrumental in mitigating further damage and managing the situation," the company said.

 

 

It added: "We are deeply saddened by this incident. Our thoughts and prayers are with all those impacted, and we extend our heartfelt sympathies to their families and loved ones."

 

The company said an immediate investigation had begun and that "initial reports indicate, the incident began in the inverter room, and, regrettably, smoke spread quickly through the building, including the emergency exits even as standard safety protocols were being observed during the evacuation."

 

The Lagos State Fire and Rescue Service said nine people were rescued from the building on Tuesday. "Five individuals have been successfully resuscitated," Deputy Controller General Ogabi Olajide said, adding that several others escaped unhurt while efforts were ongoing to revive four others.

 

 

Videos posted online showed some occupants leaping onto foamy materials spread below, while others clung to ledges until ladders were raised for their escape.

 

By late afternoon the blaze had been contained, though rescue operations and safety checks on the building continued.

 

Afriland Properties said it was working closely with authorities and thanked emergency responders, first aid workers and members of the public, describing their efforts as "heroic."

 

Afriland Towers, a commercial property in one of Lagos Island's busiest districts, houses offices and businesses.

 

Read the original article on Premium Times.

 

 

 

 

 

 

Nigeria: Dangote Narrates Experience in Uber Taxi

He emphasised the importance of adapting to new technologies and developments, stating that failure to do so would render one 'archaic'

 

Aliko Dangote, founder and president/chief executive of the Dangote Group, has shared an interesting experience he had while riding in an Uber taxi in Italy.

 

Mr Dangote in a video shared on the TVC X handle on Tuesday, said while waiting for his driver who was unavailable, his assistant called an Uber to take them to a restaurant.

 

During the ride, he said he had a conversation with the driver about the vehicle. According to him, the driver was nice, offering them mint or chewing gum, which he declined.

 

 

Mr Dangote said he complimented the vehicle, and the driver mentioned that it was a Tesla electric car, adding that the driver informed him that it costs about €20 to fully charge the car, which allows him to drive approximately 500 kilometres.

 

"I was waiting for my driver and we did not see him in Italy on Tuesday and my assistant called an uber. We just got into the uber me and him trying to go to a restaurant. The guy was nice to us and gave us mint or chew gum if we wanted and I said no thank you.

 

"And I said 'this vehicle is nice' and he said 'Tesla electric'. I said 'oh that's good'. He said our electricity is very expensive here and I said, 'ok what does it cost' and he said about €20 to fully charge and I said how many kilometres do you run and he said 500 so you can see that €20 for 500 kilometres," Mr Dangote said.

 

He emphasised the importance of adapting to new technologies and developments, stating that failure to do so would render one 'archaic'

 

 

"So things have changed and all of us will have to keep changing because if not, you will become archaic," he added.

 

Read the original article on Premium Times.

 

 

 

 

 

Ethiopia: Residents of Oromia Region Express Joy Over Inauguration of GERD

Addis Ababa — Residents of Oromia Region staged public rallies to express their joy over the inauguration of the Grand Ethiopian Renaissance Dam (GERD).

 

Ethiopia inaugurated its national flagship project, GERD, last week in the presence of leaders from Africa and the Caribbean.

 

Following GERD's inauguration, Ethiopians across all regional states are expressing their excitement in large rallies.

 

Today, public rallies are being held in various cities in the Oromia Regional State under the theme "We have achieved it together".

 

During the rallies conducted in Assela town, the Vice President of the Oromia Regional State, Awelu Abdi, remarked, "We will strive to duplicate the success attained with the Grand Ethiopian Renaissance Dam in other peace and development initiatives by uniting the community.

 

 

Awelu emphasized that the residents of the region have consistently backed the success of the GERD through the purchase of bonds and various donations.

 

The Vice President confirmed the government's persistent endeavors to replicate the achievements obtained from GERD across other development initiatives focused on establishing sustainable peace, stabilizing living costs, and enhancing service delivery through the coordination of the regional populace.

 

He also mentioned the government's continuous initiatives to assist those who choose the path of peace in returning to a normal life, thereby ensuring enduring peace in the region.

 

Moreover, he stated that the regional government will persist in enhancing law enforcement measures against individuals who have not embraced the path of peace, enabling the populace to concentrate on developmental efforts and attain enduring peace.

 

 

He mentioned that the regional government will intensify its oversight of unlawful business operations to stabilize living costs, while also increasing the availability of products.

 

Read the original article on ENA.

 

 

 

 

 

Nigeria: Dangote Refinery Delivers First U.S. Petrol Export to 2 Global Oil Traders

Two top global oil traders, Vitol and North American fuel distributor Sunoco, have received the first U.S. petrol import from Dangote refinery.

 

Reuters reported that the delivery was made on Monday, according to vessel-tracking data and two sources familiar with the matter.

 

The delivery of the tanker Gemini Pearl marks a major milestone for the 650,000-barrel-per-day Dangote refinery. Energy market participants had been waiting to see when its production would start meeting strict U.S. motor fuels standards.

 

According to one source and ship-tracking data, Vitol purchased the Gemini Pearl's cargo of around 320,000 barrels of gasoline from Geneva, Switzerland-based Mocoh Oil and sold most of it to Sunoco. It was not immediately clear what volume Vitol sold to Sunoco and how much it would keep.

 

 

The vessel was discharged at Sunoco's Linden facility in the New York Harbor area, vessel-tracking data showed.

 

The sources requested anonymity to discuss confidential details. Vitol and Sunoco did not immediately respond to requests for comment.

 

Mocoh Oil, which confirmed a partnership with Dangote to export products from the refinery earlier this year, did not immediately comment outside of business hours in Switzerland.

 

After a string of startup delays, the Dangote refinery, one of the world's biggest, has reshaped global energy flows by ramping up output sharply since last year. It is expected to significantly reduce Nigeria's fuel imports, while exporting its surplus mainly to Europe.

 

 

A second cargo of gasoline from Dangote to the U.S. was sold by Glencore to Shell on the vessel MH Daisen, which is set to arrive in the New York Harbor area around September 19, one of the sources said and ship-tracking data showed.

 

Glencore declined to comment, and Shell did not immediately respond.

 

Vitol also purchased from Mocoh a third cargo of gasoline made by the Dangote refinery, with the vessel Seaexplorer set to deliver that in the New York Harbor area around September 22, the sources said.

 

The sources said the destination of the undelivered cargoes could change based on market conditions.

 

While the cargoes support expectations that the Dangote refinery is set to sharply alter global energy trade, they are likely to be the only ones for a while. Industry monitor IIR Energy said earlier this month that the refinery's gasoline-producing unit could be shut for two to three months for repairs.

 

Dangote did not respond to Reuters' earlier requests for comment on the outage.

 

Read the original article on Leadership.

 

 

 

 

 

 

Nigeria: Lawmaker Demands Continuous Audit of Special Economic Programme

A Member of the National Assembly (NASS) has called for financial auditing and strict oversight to secure the future of Nigeria's National Growth and Knowledge Sharing (NG-CARES) initiative.

 

At a national retreat on NG-CARES in Katsina State, the member representing Akwanga/Wamba/Nasarawa Eggon Federal Constituency and deputy chairman of the Public Accounts Committee, Hon. Jeremiah Umaru, said the programme's success depends on continuous auditing and full transparency.

 

"There must be a deliberate effort to ensure proper auditing and accountability," Umaru declared, adding that both the House of Representatives Committee on NG-CARES and state governments must carry out proper oversight to prevent misuse of funds.

 

The lawmaker linked sound auditing to the programme's sustainability, urging that companies be required to dedicate a percentage of their profits before or after tax, directly to NG-CARES projects.

 

This earmarked funding, he explained, would give every state a clear budget line for community initiatives.

 

Other participants at the retreat echoed the call for strong financial controls, stressing the need for coordinator capacity building, inclusive sensitisation campaigns, more awareness campaigns on the programme, and a community-driven development approach to complement the proposed audit measures.

 

Read the original article on Leadership.

 

 

 

 

 

 

Nigeria: Reforms in Oil, Gas Sector Have Delivered $18bn Fdps in 2025 - NUPRC

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has said that the country's reform agenda delivered 28 Field Development Plans (FDPs) valued at $18.2 billion in investment commitments in 2025 alone.

 

The commitments, he said, are also expected to unlock 1.4 billion barrels of oil and 5.4 TCF of gas, adding an expected 591,000 barrels of oil per day and 2.1 billion SCFD of gas and boosting the country's aspiration to deliver over 3 million bpd in oil output.

 

Komolafe spoke yesterday at the ongoing Africa Oil Week (AOW) in Accra, Ghana, even as he attributed these feats to President Bola Tinubu's renewed hope vision, a statement by the NUPRC's Head, Media and Strategic Communications, Eniola Akinkuotu, stated.

 

 

The commission's chief executive, whose presentation was titled: 'Nigeria's Competitive Reform Agenda for Unlocking Potentials in Upstream Oil & Gas,' reiterated the importance of energy security as the cornerstone of economic growth, national resilience, and shared prosperity in Africa.

 

He said Nigeria's new energy regime under the Petroleum Industry Act (PIA), 2021, ushered in a new era of governance, fiscal reform, and institutional realignment.

 

Komolafe said the NUPRC, which is birthed under the new regime, has shown itself as a dedicated and forward-thinking regulator, explaining that in nearly four years, the commission has rolled out 24 transformative regulations, 19 of which are now gazetted to operationalise key provisions of the PIA.

 

 

According to him, the NUPRC has unveiled a comprehensive Regulatory Action Plan (RAP), aligned with the PIA, to tackle regulatory bottlenecks, vacate entry barriers, and ensure timely and transparent licensing rounds.

 

He said the initiatives of the commission have delivered results, including raising rig counts from eight in 2021 to 43 as of September 2025.

 

He said: "In 2025 alone, the commission has approved 28 new field development plans, unlocking 1.4 billion barrels of oil and 5.4 TCF of gas, adding an expected 591,000 barrels of oil per day and 2.1 BSCFD of gas. These FDPs, with $18.2 billion in CAPEX commitments, underscore Nigeria's transformation into one of the most dynamic and attractive upstream investment frontiers in the world."

 

"Other results include the $5 billion FID for the Bonga North deep offshore development and the $500 million Ubeta Gas Project signal renewed long-term commitments, with additional FIDs expected in projects like HI NAG Development, Ima Gas, Owowo Deep Offshore, and Preowei Fields."

 

 

The CCE said, since taking office, Tinubu has also approved five major acquisition deals worth over $5 billion, unlocking opportunities for ambitious indigenous players.

 

He noted that recent bid rounds and concession awards, including the 57 Petroleum Prospecting License (PPL) awards in 2022, the 2022 mini-bid round, and the 2024 licensing round, were executed with unprecedented transparency and competitiveness, drawing exceptional investor participation.

 

He explained how optimising signature bonus requirements and removing barriers to entry ensured wider accessibility, resulting in 27 out of 31 blocks offered in 2024 being successfully taken up. According to him, these developments are laying a strong foundation for fresh investments and accelerated sectoral growth.

 

"With the PIA as our foundation, reinforced by bold Presidential Executive Orders and transformative regulatory initiatives, we are not just opening our doors to investment; we are building a world-class upstream oil and gas environment that rewards ambition, innovation, and responsibility," Komolafe stated.

 

Meanwhile, Nigeria's Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has reaffirmed the country's leadership role in advancing Africa's energy security, calling for deeper regional integration.

 

Speaking at the ongoing Africa Oil Week (AOW) 2025 Ministerial and CEO Leadership Forum in Ghana, Lokpobiri stressed that integration remains the most effective strategy to end Africa's energy poverty.

 

He noted that shared infrastructure, harmonised standards, and technical expertise will enable the continent to secure its energy future, a statement in Abuja by the minister's Special Adviser on Media and Communication, Nneamaka Okafor, said.

 

Lokpobiri highlighted Africa's heavy reliance on imports, revealing that the continent spends over $120 billion annually on hydrocarbon imports. "This is capital flight. These funds should remain within Africa to fuel our own development priorities," the minister stated.

 

The minister emphasised that the real challenge is not access to capital but the lack of aligned regulatory frameworks and fiscal regimes. "Investors make long-term decisions based on stability and predictability. Africa must harmonise its policies to attract and retain investment," he said.

 

As part of Nigeria's leadership drive, Lokpobiri announced the creation of a West African Reference Market (WARM)--an initiative to leverage Nigeria's growing refining capacity to supply petroleum products across West Africa and beyond.

 

On the global energy transition, he clarified that the Paris Agreement does not require abandoning fossil fuels, but rather a reduction in emissions. "Africa contributes only 3 per cent of global CO2. We cannot lead an energy transition when we don't even have energy. Our priority must be to responsibly harness our abundant resources to power growth," he added.

 

Besides, Lokpobiri urged African nations to unite around a shared purpose: "Africa has the market, the population, and the resources. What we need now is to keep value within our continent and finance our own energy future," he maintained.

 

Read the original article on This Day.

 

 

 

 

Africa: Huawei Digital Power - Committing to Quality for Africa's Green Energy Transition

As governments worldwide intensify efforts to cut greenhouse gas emissions, respond to the climate crisis, and secure reliable energy supplies in the face of rising demand, the global energy sector is undergoing a profound and accelerated transformation.

 

At the center of this shift is the rise of green energy, particularly renewable sources such as solar, wind, and hydropower, which are no longer peripheral alternatives but central pillars of national energy strategies. This momentum is reinforced by rapid technological advances, declining costs of renewable generation, and growing recognition that clean energy is not only a climate imperative but also a driver of economic resilience, energy independence, and industrial competitiveness. The transition to green energy has therefore become an essential path for sustainable development, shaping how countries invest, innovate, and collaborate to meet both environmental and economic goals.

 

 

In this interview, Philippe WANG, president of Digital Power, H uawei  Northern Africa (North, West and Central Africa), shares the company’s approach to “high-quality” deployment, what that means in practice, and how it aligns with the region’s opportunities and challenges.

 

M r . Wang, you mentioned the "commitment to high quality." What does this commitment mean for the energy industry in Africa?

 

In Africa, the shift to green energy is not just a technological step; it is a responsibility. The continent faces some of the toughest conditions anywhere: salty coastal air, temperature above 50°C in some regions, and fine desert dust that can cut equipment efficiency by up to 30% if systems are not well designed & maintained. Without robust design, equipment fails more often, costs more to maintain, and lets people down when it matters most. Our High-quality systems are built for these realities. They last longer, work more reliably, and need less maintenance which makes the transition more climate-resilient.

 

 

Quality also speaks to urgent human needs. Around 600 million people in sub-Saharan Africa still lack electricity, and many others face routine outages.  The impact is felt across public services and critical infrastructure: as of 2021, only 28% of healthcare facilities had reliable power; in education, a 2025 study found that 32% of school-age children live near unelectrified schools. In many countries, hospitals, banks, airports and other essential services operate under the constant risk of blackout, relying on costly diesel backup. High-quality green energy solutions such as PV power generation and grid forming energy storage systems can address this by providing stable, continuous electricity etc. This not only strengthens communities but also supports the development of local economies.

 

 

When I talk about a “commitment to high quality,” I mean building systems that people and employers can depend on for years, not quarters. The point is simple: make the transition deliver lasting benefits, lower lifetime costs, low failure rate, and a stronger foundation for communities and local economies.

 

You mentioned that Africa's climate and environmental variability impose high demands on energy equipment. How does Huawei address these challenges?

 

To meet those demands, testing sits at the core of our quality strategy at Huawei Digital Power. We test complete systems, not just parts. The process runs in four stages: component, system, solution and semi-realistic simulation, each to strict standards. We then verify performance in the field, in conditions that match deployment: extreme heat and cold, prolonged dryness, high humidity, dust and corrosive salt-mist. By building these stresses into design and validation, we ensure our inverters, controllers and battery systems operate stably for years in complex environments.

 

We back this with sustained R&D: in 2024, 20.8% of annual revenue was reinvested in R&D of innovative technologies such as AI and foundational technologies, thus offering high-quality and competitive products and solutions. That keeps our equipment reliable in the field and aligned with customer needs.

 

The Salam Office project in Chad shows what this looks like in practice. It has an installed solar PV capacity of 300 kWp, paired with 1 MWh of energy storage systems, to store energy for use after sunset or during grid cuts. Huawei 50 kW inverters convert the solar power into electricity the campus can use. Since its launch in November 2024, the system has covered most of the site’s daily electricity needs and has operated for several months in conditions with temperatures reaching up to 45 °C. It is a commercial and industrial setup that can operate with or without the national grid, clear evidence that stable, high-quality power is achievable in extreme conditions.

 

Power supply in Africa faces instability challenges, particularly in remote areas. How does Huawei ensure that its grid   forming  energy storage systems maintain high quality and stable operation in these environments?

 

In remote areas, storage has to be safe and steady first, day and night. Our grid   forming  energy storage systems (ESS) are built so that if a single battery cell overheats, the issue is confined to its module and does not spread to the rest of the modules. We call this pack-level thermal-runaway non-propagation. Additionally, we use a layered battery management system (BMS), the control center, that detects temperature, voltage and current, balances cells, and can switch a module off to protect the whole. In practice: a cell overheats; the BMS detects it; fire-resistant barriers and venting isolate the module; the rest keeps running. That’s what lets remote sites ride out heatwaves, voltage dips and long grid outages while power stays on.

 

We also combine four core technologies, what we call 4T, to keep storage stable in tough conditions and reduce the diagnosis error rate. BiT adds digital control and analytics for early fault detection and remote diagnostics; WatT brings high-efficiency power electronics that stabilize charging and discharging; HeaT manages temperature precisely, so cells stay within safe ranges in hot or humid climates; BatTery covers balancing, state-of-charge and state-of-health, which protects cycle life. This convergence is the point: one system, managed end-to-end, rather than separate boxes that don’t “communicate” to each other.

 

This ensures that we can provide a continuous power supply in complex environments, supporting Africa's green energy transition and meeting the region’s need for long-term stable electricity.

 

What is your vision for the sustainable development of new energy in the future?

 

My vision starts with long-termism. The sustainable development of new energy will be a profound and steady transformation. True high quality is not about technological leadership at one moment in time or in one market; it is about building solutions that withstand the test of time in changing environments.

 

For me, that means being a partner, not just a passing supplier. We commit for the full life of a project from planning and financing structures that work over time, to operations, maintenance, and upgrade paths that don’t force clients to start from scratch. The goal is simple: low failure rate, low maintenance costs, and an optimized cost per kilowatt-hour as assets age.

 

Long-termism is also an economic choice. It ensures that the technologies we deploy meet today’s needs while maintaining efficiency and stability for years, even under extreme climate and environmental conditions. Reliable power reduces risk for investors, keeps businesses and essential services running, and frees public budgets from constant emergency fixes, allowing fast-growing regions to develop without being held back by fragile infrastructure.

 

This is the role I see for Huawei Digital Power in Northern Africa: a stable, accountable partner whose solutions provide a solid foundation for the energy transition and the momentum to drive it into the future, specifically supporting the long-term energy goals of the region.

 

 

 

 

GSK pledges $30bn US investment as UK's pharma woes deepen

British pharmaceutical firm GSK has pledged to invest $30bn (£22bn) in research and manufacturing in the US over the next five years.

 

Announced at the start of US President Donald Trump's visit to the UK, the money will fund the development of next-generation factories, artificial intelligence (AI) and research labs in the US, said GSK.

 

British Prime Minister Sir Keir Starmer said the investment was a "powerful example" of collaboration between the countries and would create new jobs and boost drug development.

 

The move comes as drugmakers face pressure from the Trump administration to move production to the US.

 

 

GSK said in a statement that $1.2bn would be allocated to build a new factory in Pennsylvania to develop medicines for respiratory diseases and cancer. Construction is planned to start next year.

 

The money will also fund new AI and digital technology tools across GSK's five American manufacturing sites, including those in North Carolina and Maryland.

 

The rest of the $30bn investment will support GSK's supply chain and drug research efforts, the company said.

 

Chief executive Emma Walmsley said GSK plans to keep investing in its UK manufacturing base and will continue spending over £1.5bn yearly on research and development from the country.

 

GSK is the latest pharma firm to have either reduced spending in the UK or diverted it to the US, which has threatened tariffs as steep as 250% on pharmaceutical imports.

 

Threats to the sector have caused major disruption, with drugmakers pausing or cancelling nearly £2bn in planned investments in Britain this year.

 

Last week, US pharmaceutical company Merck - known as MSD in Europe - announced it would scrap its £1bn London research centre. Shortly after, AstraZeneca halted its planned £200m expansion of its research facilities in Cambridge.-BBC

 

 

 

 

New AI deal could rapidly boost UK economy, says Microsoft boss

Microsoft says its new $30bn (£22bn) investment in the UK's AI sector - its largest outside the US - should significantly boost Britain's economy in the next few years.

 

The package forms a major part of a £31bn agreement, dubbed the "Tech Prosperity Deal", between the UK government and several US tech giants as part of President Donald Trump's second state visit to the UK.

 

The deal will see Google, Nvidia and others invest in British-based infrastructure to support AI, largely in the form of data centres. Microsoft will also now be involved in the creation of a powerful new supercomputer in Essex.

 

Microsoft CEO Satya Nadella told the BBC he expected AI investment to drive UK growth and productivity.

 

 

"It may happen faster, so our hope is not 10 years but maybe five," he said.

 

"Whenever anyone gets excited about AI, I want to see it ultimately in the economic growth and the GDP growth."

 

Prime Minister Sir Keir Starmer said the deal would create highly skilled jobs "putting more money in people's pockets and ensuring this partnership benefits every corner of the United Kingdom".

 

Mr Nadella compared the economic benefits of the meteoric rise of AI with the impact of the personal computer when it became common in the workplace, about ten years after it first started scaling in the 1990s.

 

But there are also growing mutterings that AI is a very lucrative bubble that is about to burst.

 

Mr Nadella conceded that "all tech things are about booms and busts and bubbles" and warned that AI should not be "over-hyped or under-hyped".

 

He acknowledged that its energy consumption remains "very high" but argued that its potential benefits, especially in the fields of healthcare, public services, and business productivity, were worthwhile.

 

The campaign group Foxglove has warned that the UK could end up "footing the bill for the colossal amounts of power the giants need".

 

The supercomputer, to be built in Loughton, Essex, was already announced by the government in January, but Microsoft has now come on board to the project.

 

Big tech comes to town

Mr Nadella was speaking exclusively to BBC News as Donald Trump arrived in the UK on a three-day state visit.

 

The deal seeks to strengthen ties between the countries on AI, quantum computing and nuclear power.

 

Questions have been asked about what if anything the UK has agreed to give in return.

 

Technology Secretary Liz Kendall told the BBC the deal did not include guarantees over scrapping a tax for big tech or on copyright for AI companies.

 

The Digital Services Tax - a 2% levy which raises about £800m a year mainly from US tech companies - was previously said to be part of trade discussions.

 

But Ms Kendall told the Today programme "that wasn't part of the partnership" now agreed.

 

She also said no guarantees were made to AI companies on copyright, a major issue for the UK's creative sector - which has expressed concerns its work is being used by AI companies without permission.

 

Meanwhile, a number of tech companies have pledged billions of pounds in investment alongside Microsoft.

 

Google has promised £5bn for AI research and infrastructure over the next two years.

 

Nvidia also pledged to develop AI in the UK, which will help fuel innovation, economic growth and jobs, a spokesperson for the chip giant told the BBC.

 

The company said that along with its partners it will invest up to £11bn in the UK, in what it called the largest AI infrastructure rollout in the country's history.

 

 

AI growth zone in north-east England

The government also said there was "potential for more than 5,000 jobs and billions in private investment" in north-east England, which has been designated as a new "AI growth zone".

 

Last year, the government announced a £10bn investment into a data centre to be built near Blyth, Northumberland.

 

It has now announced another data centre project in Northumberland dubbed Stargate UK from OpenAI, chipmaker Nvidia, semiconductor company Arm and Nscale.

 

OpenAI boss Sam Altman said Stargate UK would "help accelerate scientific breakthroughs, improve productivity, and drive economic growth".

 

However the UK version is a fraction of the firm's US-based Stargate project, which OpenAI launched in January with a commitment to invest $500bn (£367bn) over the next four years building new AI infrastructure for itself.

 

The Tony Blair Institute described the news as a "breakthrough moment" but added Britain had some work to do.

 

Dr Keegan McBride, an emerging tech and geopolitics expert at the institute, said that work included "reforming planning rules, accelerating the delivery of clean energy projects, and building the necessary digital infrastructure" for growth.

 

Matthew Sinclair, UK director of the Computer & Communications Industry Association, hailed the agreement as "a powerful demonstration of the scale of the AI opportunity for the UK economy".

 

But the Conservative Party highlighted that other big international companies such as the pharmaceutical giant Merck have recently cancelled or delayed their UK expansion plans.

 

Satya Nadella spoke to BBC News shortly before he and other tech leaders, including OpenAI's Sam Altman and Nvidia's Jensen Huang, were due to attend the Royal state banquet on Wednesday.

 

He said he would use Microsoft's AI tool, Copilot, to help him decide what to wear.

 

"I was very surprised that there was a very different dress protocol, which I'm really not sure that I'm ready for," he said.-BBC

 

 

 

 

Why the US is expected to cut interest rates

After months of economic debate and mounting attacks from US President Donald Trump, the US central bank is poised to cut interest rates on Wednesday.

 

The Federal Reserve is widely expected to announce it is lowering the target for its key lending rate by 0.25 percentage points. That will put it in a range of 4% to 4.25% - the lowest level since late 2022.

 

The move - the bank's first rate cut since last December - is expected to kick off a series of additional reductions in the months ahead, which should help bring down borrowing costs across the US.

 

 

But they carry a warning about the economy, reflecting increased consensus at the Fed that a stalling job market needs a boost in the form of lower interest rates.

 

Nor are they likely to satisfy the president, who has called for far deeper cuts.

 

In many ways, it is no surprise that the Fed, which sets interest rate policy independent of the White House, is cutting.

 

The inflation that ripped through the post-pandemic economy and prompted the bank to raise interest rates in 2022 has come down significantly.

 

In the UK, Europe, Canada and elsewhere, central banks have already responded with lower rates, while the Fed's own policymakers have said for months that they expected to lower borrowing costs by at least half a percentage point this year.

 

At the Fed's last meeting, two members of the board even backed a cut.

 

They were outvoted, as other members remained worried that Trump's economic policies, including tax cuts, tariffs and mass detentions of migrant workers, might cause inflation to flare back up again.

 

And it's true that the US in recent months has seen inflation tick higher. Prices rose 2.9% over the 12 months to August, the fastest pace since January, and still above the Fed's 2% target.

 

But in recent weeks, those concerns have been eclipsed by weakness in the labour market. The US reported meagre job gains in August and July and an outright loss in June - the first such decline since 2020.

 

 

"It really comes down to what we've seen in the jobs market - the deterioration that we've seen over the past few months," said Sarah House, senior economist at Wells Fargo, which is expecting rates to drop by 0.75 percentage points by the end of the year.

 

"The Fed knows that when the labour market turns, it turns very quickly, so they're wanting to make sure they're not stepping on the brakes of the economy at the same time the labour market has already slowed."

 

Though Trump has rejected concerns about economic weakness, the rate cut should not be unwelcome to him - he has spent months blasting the Fed's hesitance to cut rates, which he says should be as low as 1%.

 

On social media, he has called Federal Reserve chairman Jerome Powell "a real dummy", accusing him of holding back the economy by leaving interest rates too high for too long.

 

"Too Late" MUST CUT INTEREST RATES, NOW, AND BIGGER THAN HE HAD IN MIND. HOUSING WILL SOAR!!!" Trump wrote in a social media post this week, referring to Powell.

 

Trump's pressure is not just rhetorical. He moved quickly to install the chairman of his Council of Economic Advisers, Stephen Miran, on the Fed in time for this week's meeting after a short-term vacancy opened up last month.

 

His administration has also threatened Powell with firing and investigation and is locked in a legal battle over its effort to fire economist Lisa Cook, another member of the board.

 

 

To critics, Trump's moves amount to an assault on the Fed's independence that is unprecedented in recent history.

 

But whatever awkwardness in the air at this week's Fed meeting, analysts say they believe the Fed's decision to cut would have come regardless of his campaign.

 

"The president's policies are certainly causing the economic activity that is forcing the hand of the Fed," said Art Hogan, chief market strategist at B. Riley Wealth.

 

"The president's jawboning of the Fed to lower rates I think has had zero impact whatsoever."-BBC

 

 

 

 

Trump clashes with Australian journalist over business deals in office

Donald Trump has accused an Australian journalist of "hurting Australia" after the leader was asked about his business deals while in office.

 

The US president was asked by John Lyons from the Australian Broadcasting Corporation (ABC) how much wealthier he had become since returning to the White House in January.

 

"I don't know," Trump replied, saying his children handled the family businesses. "In my opinion, you are hurting Australia very much right now, and they want to get along with me."

 

Trump said he was going to be meeting Australian Prime Minister Anthony Albanese "very soon", adding: "I'm going to tell him about you. You set a very bad tone."

 

 

When Lyons tried to ask another question, Trump held his index finger to his lips before saying "quiet" and moved away to speak to another journalist.

 

For months, Albanese has been seeking a meeting with the US president after talks between the pair were cancelled at the last-minute when Trump left the G20 summit in June earlier than expected to deal with the war in the Middle East.

 

Albanese - who will be in the US for the UN General Assembly next week - told ABC radio on Monday that he and Trump would "see each other in New York".

 

"He's hosting a reception on Tuesday night of next week. And as well, we'll see each other at various forums that are taking place between now and the end of the year."

 

Getty Images Donald Trump, mouth open as he's speaking, wearing dark suit an red tieGetty Images

Trump said the journalist was "hurting Australia very much"

 

In recent months, US-Australia relations have become strained since the Trump administration announced a review into Aukus, a major submarine deal worth £176bn ($239bn; A$368bn) between the US, UK and Australia which was signed in 2021.

 

In April, Australia was also hit with a tariff of at least 10% on all exports to the US, which Albanese said was "not the act of a friend".

 

Lyons said after the terse response from Trump that it was an "absurd notion" that asking legitimate questions politely would hurt relations between the long-time allies.

 

"For me, it was a perfectly normal thing to do to ask questions that I don't think were provocative," he told the ABC, adding his enquiries were fair, based on research and not asked in an abusive way.

 

The ABC said his questions were part of an investigation by their Four Corners programme looking into Trump's business dealings since returning to office.

 

Shortly after the tense exchange, a social media post on an official White House account showing the response was captioned: Trump "smacks down a rude foreign Fake News loser".-BBC

 

 

 

Deal is done to keep TikTok in the US, says Trump

A deal has been made between the US and China to keep TikTok running in the US, according to President Donald Trump.

 

"We have a deal on TikTok, I've reached a deal with China, I'm going to speak to President Xi on Friday to confirm everything up," Trump told reporters as he left the White House for a state visit to the UK.

 

The social media platform, which is run by Chinese company ByteDance, was told it had to sell its US operations or risk being shut down.

 

However, Trump has repeatedly delayed the ban since it was first announced in January. Later on Tuesday, he ordered the deadline extended again, until 16 December.

 

 

The US president said a buyer will be announced soon.

 

The Wall Street Journal reported that under a deal being negotiated between the US and China, TikTok's U.S. business would be controlled by an investor consortium that would include tech company Oracle, private equity firm Silver Lake, and venture capital firm Andreessen Horowitz.

 

In a new US entity created under the deal, US investors would hold a roughly 80% stake and Americans would dominate the board, with one member selected by the US government, according to the Journal, which cited people familiar with the matter.

 

US users, meanwhile, would move to a new app, currently in the testing phase, that will have content-recommendation algorithms using technology licensed from ByteDance. TikTok's algorithms are a top reason for the app's success.

 

Earlier, CNBC reported the deal would include a mix of current and new investors, and would be completed in the next 30 to 45 days.

 

It also said Oracle would keep its existing agreement to host TikTok servers inside the US. That had been one of the main concerns of American lawmakers, over worries about data being shared with China.

 

On Monday, a US trade delegation said it had reached a "framework" deal with China amid wider trade negotiations in Madrid.

 

China confirmed a framework agreement but said no deal would be made at the expense of their firms' interests.

 

After the talks, Wang Jingtao, deputy head of China's cyberspace administration, suggested in a press conference that the agreement included "licensing the algorithm and other intellectual property rights".

 

He added: "The Chinese government will, according to law, examine and approve relevant matters involving TikTok, such as the export of technology as well as the license use of intellectual property."

 

 

After initially calling for TikTok to be banned during his first term, Trump has reversed his stance on the popular video-sharing platform.

 

In January, the US Supreme Court upheld a law, passed in April 2024, banning the app in the US unless its Chinese parent company ByteDance sold its US arm.

 

The US Justice Department has said that because of its access to data on American users, TikTok poses "a national-security threat of immense depth and scale".

 

However, ByteDance has resisted a sale, maintaining its US operations are completely separate, and says no information is shared with the Chinese state.

 

TikTok briefly went dark in January, but this lasted for less than a day before the initial ban was delayed.

 

The deadline for a sale has since been extended four times, and the latest delay to the ban is due to end on 16 December.-BBC

 

 

 

 

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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

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

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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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