Major International Business Headlines Brief::: 07 March 2021

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

 <http://www.bullszimbabwe.com> Bullszimbabwe.com
<mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments
<https://bullszimbabwe.com/category/blogs/bullish-thoughts/> Bullish
Thoughts        <http://www.twitter.com/BullsBears2010> Twitter
<https://www.facebook.com/BullsBearsZimbabwe> Facebook
<http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn
<https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp
<mailto:info at bulls.co.zw?subject=Unsubscribe> Unsubscribe

 


 

 


Major International Business Headlines Brief::: 07 March 2021

 


 

 


 <https://www.nedbank.co.zw/> 

 


 

 


ü  Coronavirus: US Senate passes major $1.9tn relief plan

ü  Microsoft hack: White House warns of 'active threat' of email attack

ü  John McAfee charged with fraud over cryptocurrency

ü  Tech Tent: The new 'space race' for computer chips

ü  'A side of shares': Deliveroo to offer 50 million pounds of stock to
customers

ü  Investor Chamath Palihapitiya confirms selling shares in Virgin Galactic

ü  BT denies any CEO rift behind chairman's retirement

ü  More than 20,000 U.S. organizations compromised through Microsoft flaw

ü  Nigeria: Demand By Nigerians in Diaspora Boosts Exports

ü  Kenya: State U-Turn On Changes to Kenya-UK Trade Deal

ü  Nigeria: Govt Launches Its National Cyber-Security Policy As African
Cyber-Threats Mount - How It Will Turn Policy Into Practical Action

ü  Nigeria: Bala-Usman - NPA Contributed N151 Billion to Govt in Four Years

ü  Senegal: Govt Restricts Internet As Protests Escalate

ü  South Africa: Mpumalanga Focuses On Reviving Economy

 

 

 


 <https://www.facebook.com/Hyundaizimbabwe/> 

 


 

Coronavirus: US Senate passes major $1.9tn relief plan

President Joe Biden's relief bill aimed at helping Americans deal with the
impact of the coronavirus pandemic has cleared a major hurdle.

 

The $1.9tn (£1.4tn) plan was approved in the Senate on Saturday despite
every Republican senator voting against.

 

The House of Representatives - controlled by Mr Biden's Democrats - is
expected to approve it next Tuesday.

 

Mr Biden described the Senate vote as "one more giant step forward" in
delivering the promise to help people.

 

America's worst public health crisis in a century has left nearly 523,000
people dead and 29 million infected, with a current unemployment rate of
6.2%.

 

The relief package - the third in the US since the start of the pandemic -
envisages one-off payments worth $1,400 to be sent to most Americans. Mr
Biden said such payments could start being distributed later this month.

Republicans say the plan is too costly. Some Democrats have also voiced
criticism of certain provisions and the party's leadership was forced to
make a number of compromises, notably the lowering of federal unemployment
benefit from $400 to $300 a week. The benefit will be extended until 6
September under the plan.

 

"It obviously wasn't easy. It wasn't always pretty. But it was so
desperately needed, urgently needed," President Biden said.

 

He added that he hoped for a quick passage of the bill in the House so that
he could sign it into law.

 

What's in the package?

The so-called American Rescue Plan allocates $350bn to state and local
governments, and some $130bn to schools.

 

It would also provide $49bn for expanded Covid-19 testing and research, as
well as $14bn for vaccine distribution.

 

The $1,400 stimulus cheques will be quickly phased out for those with higher
incomes - at $75,000 for a single person and for couples making more than
$150,000.

 

 

The extension of jobless benefits until September, meanwhile, would mark a
key reprieve for millions of long-term unemployed Americans whose
eligibility for benefits is currently due to expire in mid-March.

 

The bill also includes grants for small businesses as well as more targeted
funds: $25bn for restaurants and bars; $15bn for airlines and another $8bn
for airports; $30bn for transit; $1.5bn for Amtrak rail and $3bn for
aerospace manufacturing.

 

What were the sticking points?

While Republicans broadly backed two previous stimulus plans, passed when
they controlled both the White House and the Senate under Donald Trump, they
have criticised the cost of Mr Biden's bill.

 

There was a marathon 27-hour session before the final vote on Saturday, and
the 50-49 tally along party lines was indicative of the widespread
Republican opposition.

 

The even split between the parties in the Senate meant that every Democratic
senator needed to support the party's plans.

 

But on Friday a moderate Democrat, Senator Joe Manchin, objected on the
grounds that the huge bill might overheat the economy. It took 11 hours of
negotiation throughout the night to come up with a deal.

 

The compromise on lowering unemployment benefit meant the package could move
forward to a final vote.

 

Senate Democratic leader Chuck Schumer said the plan would "deliver more
help to more people than anything the federal government has done in
decades".

 

Speaking ahead of the vote, he said: "It's been a long day, a long night, a
long year, but a new day has come and we tell the American people help is on
the way."

 

Senate Republican Leader Mitch McConnell, however, criticised the aid
package. "The Senate has never spent $2tn in a more haphazard way or through
a less rigorous process," he said.

 

Mr Schumer has predicted that the House will endorse the bill and President
Biden will sign it before boosted unemployment benefits expire on 14
March.--BBC

 

 

 

Microsoft hack: White House warns of 'active threat' of email attack

The US is expressing growing concern over a hack on Microsoft's Exchange
email software that the tech company has blamed on China.

 

"This is an active threat," White House press secretary Jen Psaki said on
Friday. "Everyone running these servers - government, private sector,
academia - needs to act now to patch them."

 

Microsoft said hackers had used its mail server to attack their targets.

 

It is reported that tens of thousands of US organisations may be impacted.

 

The US has long accused the Chinese government of cyber-espionage, something
Beijing denies.

 

Ms Psaki told reporters that the White House was "concerned that there are a
large number of victims" and said the vulnerabilities found in Microsoft's
servers "could have far reaching impacts".

 

On Saturday, the US National Security Council said it was "essential that
any organisation with a vulnerable server take immediate measures" to
determine if they had been targeted.

 

Patching and mitigation is not remediation if the servers have already been
compromised. It is essential that any organization with a vulnerable server
take immediate measures to determine if they were already targeted.
https://t.co/HYKF2lA7sn

 

What do we know about the hack?

Microsoft executive Tom Burt revealed the breach in a blog post on Tuesday
and announced updates to counter security flaws which he said had allowed
hackers to gain access to Microsoft Exchange servers.

 

The Microsoft Threat Intelligence Center (MSTIC) attributed the attacks with
"high confidence" to a "state-sponsored threat actor" based in China which
they named Hafnium.

 

The tech giant said Hafnium had tried to steal information from groups such
as infectious disease researchers, law firms, higher education institutions
and defence contractors.

 

A spokesman for the Chinese government told Reuters news agency that the
country was not behind the hack. Beijing has repeatedly rejected US
accusations of cyber-crime.

 

More than 20,000 organisations have been compromised in the US with many
more affected worldwide, Reuters reported.

 

Brian Krebs, an industry expert and blogger, put the number higher - citing
multiple security sources.

 

"At least 30,000 organizations across the United States - including a
significant number of small businesses, towns, cities and local governments
- have over the past few days been hacked by an unusually aggressive Chinese
cyber-espionage unit that's focused on stealing email from victim
organizations," he wrote in a blog post.

 

Mr Krebs warned attacks had "dramatically stepped up" since Microsoft's
announcement.

 

What is Microsoft doing?

News of the breach prompted the US Cybersecurity and Infrastructure Security
Agency (Cisa) to release an emergency directive telling agencies and
departments to take urgent action.

 

Jake Sullivan, the White House National Security Adviser, has also urged
network owners to download the security patches as soon as possible.

 

We are closely tracking Microsoft’s emergency patch for previously unknown
vulnerabilities in Exchange Server software and reports of potential
compromises of U.S. think tanks and defense industrial base entities. We
encourage network owners to patch ASAP: https://t.co/Q2K4DYWQud

 

Microsoft has not confirmed the reported figures but said in a further
statement on Friday that it was working closely with US government agencies.

 

It told customers "the best protection" was "to apply updates as soon as
possible across all impacted systems".

 

However, it also said it was deploying some mitigation techniques designed
to help those who are unable to upgrade quickly, but warned they were not "a
remediation if your Exchange servers have already been compromised, nor are
they full protection against attack".

 

This is the eighth time in the past 12 months that Microsoft has publicly
accused nation-state groups of targeting institutions critical to civil
society.

 

Microsoft said the attack was in no way related to the SolarWinds attack,
which hit US government agencies late last year.

 

Although Hafnium is based in China, it allegedly conducts its operations
primarily from leased virtual private servers in the US, Microsoft said.

 

China presence

While many US tech firms have had a tumultuous relationship with the Chinese
government, Microsoft has maintained a mainland presence since 1992.

 

Unlike Facebook and Twitter, Microsoft's business-oriented social media
platform LinkedIn is still accessible in China.

 

So, too, is its search engine Bing, although locally-grown Baidu dominates
the search market.--BBC

 

 

 

John McAfee charged with fraud over cryptocurrency

Businessman John McAfee, creator of the McAfee anti-virus software, has been
charged in the US with conspiracy to commit fraud and money laundering.

 

Mr McAfee and his bodyguard Jimmy Gale Watson Jr are accused of promoting
cryptocurrencies to Mr McAfee's large Twitter following to inflate prices.

 

The currencies were then allegedly sold, making the pair $2m (£1.45m),
prosecutors said.

 

The men have not commented on the charges.

 

Mr McAfee, 75, is currently being detained in Spain in relation to separate
criminal charges relating to tax, which he denies. He faces possible
extradition to the US.

 

Mr Watson was arrested in Texas on Thursday.

 

"Jimmy Watson is a decorated veteran and former Navy Seal. He fought for
other people's rights and liberties, and he is entitled to and looks forward
to his day in court to exercise some of those very rights," said his lawyer
Arnold Spencer.

 

The strange life of John McAfee

The latest charges were filed in the Manhattan federal court in New York.
The pair are accused of buying the cryptocurrency assets before promoting
them on Twitter, where Mr McAfee has more than one million followers.

 

They would then sell the assets as soon as Mr McAfee's endorsements saw
prices rise, according to the US justice department and the Commodity
Futures Trading Commission.

 

They allegedly made a further $11m (£8m) in payments from cryptocurrency
start-ups for promoting their assets on Twitter, payments which were not
disclosed to investors who bought them.

 

That amounted to having "exploited a widely used social media platform and
enthusiasm among investors in the emerging cryptocurrency market to make
millions through lies and deception," federal prosecutor Audrey Strauss
said.

 

In the separate tax evasion case - which was announced last October - Mr
McAfee is accused of failing to file any tax returns from 2014 to 2018.
Prosecutors also say he used other people's names to conceal his assets,
including a yacht and property.

 

Who is McAfee?

A controversial figure, he came to prominence in the 1980s when his company
released the first commercial anti-virus software - McAfee VirusScan - and
helped spark a multi-billion dollar industry.

 

Although that business has since been sold to Intel, he still develops
cyber-security products of his own.

 

The entrepreneur, who was born in the UK, also launched unsuccessful bids to
become the Libertarian Party's candidate for the US presidential elections
in 2016 and 2020.

 

Mr McAfee has previously expressed his disdain for taxes, tweeting in 2019
that he had not filed tax returns for years because "taxation is illegal".

 

In 2012, he made headlines after police in the Central American country of
Belize investigated the death of one Mr McAfee's neighbours and named him as
a "person of interest".

 

Mr McAfee left the country saying he feared for his own safety. Officials
ultimately said he was not a suspect.--BBC

 

 

Tech Tent: The new 'space race' for computer chips

Silicon chips are at the heart of many of the biggest technology stories of
our time.

 

Without them, car plants around the world have come to a halt. The
technology to make them is now seen by the United States as a key weapon in
its trade war with China. And access to the latest and most-powerful
versions will determine who wins the artificial intelligence race.

 

In this week's Tech Tent podcast, we look at the semiconductor industry and
try to answer five important questions about chips.

 

What's behind the current shortages?

>From Ford and General Motors in the US, to Honda in the UK, and electric
car-maker Nio in China: major automotive companies have had to cut back
production due to a shortage of chips. Why?

 

Well it seems the pandemic is to blame, continually making every prediction
about chip demand look out-of-date.

 

First, it made demand for gadgets soar, as years of digital transformation
happened in weeks.

 

"We've been talking about working from home and 5G and IoT and the cloud for
years. And now suddenly it's a reality," says Jodi Shelton, chief executive
of the World Semiconductor Association.

 

Meanwhile, sales of new cars fell off a cliff and automotive executives
cancelled orders for chips.

 

But then, an unexpected rebound in sales caught them flat-footed, along with
their chip suppliers.

 

Jodi Shelton says car-makers with "just in time" supply chains came up
against a semiconductor industry that cannot just quickly turn the tap on or
off.

 

"They're going to have to learn that that's not really the way it works.
These are just not products that are off-the-shelf."

 

Who is making the best chips?

The shortages have made one thing clear: there is no longer just one kind of
chip.

 

As demand shifts, so does power in the semiconductor industry.

 

For decades, Intel - with its marketing slogan "Intel Inside" - was the only
chip-maker in the minds of many.

 

But that is no longer the case. Analyst Richard Windsor of Radio Free Mobile
says the world has moved on.

 

He outlines two trends: the use of chips for data storage, and the growing
importance of graphics chips (GPUs), which aren't just for making games come
to life but play a vital role in artificial intelligence applications.

 

And he points to new superpowers in this industry, in particular the
Taiwanese company TSMC.

 

"TSMC is by far the world's number one manufacturer of cutting-edge silicon
chips at this point in time," he explains.

 

"It's very different from Intel. What Intel does is it designs the chips;
makes its own chips; and then sells those chips. What TSMC does is make
chips for other people."

 

And building chip factories - or foundries as they are known - is a hugely
expensive business. Richard Windsor tells us that it can cost as much as $25
billion (£18bn) to open a new foundry with state-of-the art equipment.

 

What is the most important company in chip-making?

Mr Windsor also talks about the vital role played by ASML, a company that is
the only supplier of what is effectively a printing press for the very
latest and smallest silicon chips.

 

"A relatively obscure Dutch company," is how my colleague Leo Kelion, the
BBC's technology desk editor, described the company in an article last year.

 

While not a household name, it is has a huge market capitalisation of about
184bn euros ($220bn; £159bn).

 

In any case, ASML liked the description so much that it printed it on
hoodies for staff.

 

"We build the tools that the carpenter uses to build your house," says Jos
Benschop of ASML, explaining how the likes of TSMC, Intel and Samsung all
need its equipment.

 

When the company was founded in 1984 there were 10 big players in the chip
lithography market. Now it is the only one left.

 

"As the technology became progressively more difficult to master, and the
investment needed became progressively larger, then you had the survival of
the fittest. Fewer and fewer companies were able to keep up."

 

But that means ASML is caught in the trade war between the US and China. The
Trump administration put pressure on the Dutch government to halt the sale
of ASML technology to a Chinese customer. That seems to have worked -
shipment of the equipment has been delayed.

 

Why do chips play a role in the US-China trade war?

As China and the United States battle for supremacy in artificial
intelligence, access to equipment that builds the latest AI chips is a key
weapon.

 

Dr Pippa Malmgren, a former advisor to President George W. Bush, says the
stakes are as high as they were in another technological battle: the space
race.

 

"The new space race at the geopolitical level is for computational power.
Who can gather the most data and process that data the fastest? That is why
both China and the US, frankly the EU as well, are spending a lot of money
on quantum computers, incredibly fast supercomputers. And all of these
things require chips," she explains.

 

Taiwan, home of TSMC, is on the front line of this battle. Given its fight
to be independent from China, you might think it would do whatever the US
wanted.

 

But Dr Malmgren warns that things are not so simple :"Chinese money is
heavily invested in Taiwan.

 

"And I think if you were to ask, can you extricate Chinese backing from the
Taiwanese economy, the answer is that it would be very difficult."

 

Is Moore's Law over?

Since the 1960s, the chip industry has been governed by Moore's Law, which
predicts that the capability of computers will double every two years as
manufacturers cram ever-smaller transistors on to their chips.

 

But given that the transistors are now so unimaginably small, can we expect
this pattern to continue?

 

I asked Sophie Wilson, who in the 1980s played a key role in designing what
is now the world's most popular chip, the Arm processor.

 

She tells us progress is still possible because the industry keeps on
finding new ways of cramming more into a smaller space.

 

"We've reached the end of the road many times. And each time we've reached
the end of the road, there has been some sort of way out," she explains.

 

And the future may be 3D.

 

"What you'll see over the next few years is stuff working in three
dimensions. We can still up the density in a given volume by building more
and more silicon layers on top of each other. The silicon layers are very
thin, so you can stack them on top of each other," she says.

 

And don't expect China to opt out of this battle.

 

As it is denied access to current chip equipment, the Chinese government
will pour huge sums into research into new approaches with the aim of
leapfrogging the United States in the next era of the chip economy.--BBC

 

 

 

 

'A side of shares': Deliveroo to offer 50 million pounds of stock to
customers

LONDON (Reuters) - Deliveroo said shares worth 50 million pounds ($69
million) would be earmarked for customers in its upcoming flotation, with
the offer branded “Great food with a side of shares”.

 

The Amazon-backed food delivery firm announced plans on Thursday to list in
London, with a potential value of $7 billion making it the biggest market
debut in Britain for three years.

 

Founder and chief executive Will Shu said Deliveroo’s customers had
supported the firm’s growth and he wanted to give them the chance to share
in the next stage of its journey.

 

“Far too often, normal people are locked out of IPOs, and the only
participants are the institutional investors,” he said on Sunday.

 

“I wanted to give as many customers as possible the chance to become
shareholders, which is why we’re making 50 million pounds of shares
available to them, alongside our restaurant partners and riders.”

 

Deliveroo said any customer who had placed an order would be able to
register their interest via the company’s app from Monday.

 

Each would be able to apply for up to 1,000 pounds of shares, it said,
adding that loyal customers would be prioritised if the offer were
oversubscribed.

 

Russ Mould, investment director at online platform AJ Bell, said a year of
lockdowns had fuelled demand for companies like Deliveroo and there was an
expectation that habits formed during the pandemic would remain long into
the recovery.

 

“All this suggests there is likely to be a bun fight for the 50 million
pounds worth of customer shares in Deliveroo at the IPO offer,” he said.

 

Deliveroo said it would also recognise the role played by its delivery
riders in its success with a 16 million pound reward programme to be
launched on the day of listing.

 

Cash rewards from 10,000 pounds to 200 pounds will be available to riders in
Deliveroo’s 21 markets based on the number of orders delivered. It said the
average per eligible rider would be 440 pounds.

 

($1 = 0.7225 pounds)

 

 

 

Investor Chamath Palihapitiya confirms selling shares in Virgin Galactic

(Reuters) - Venture investor Chamath Palihapitiya on Saturday confirmed in a
tweet that he has freed up some capital by selling shares in Virgin Galactic
Holdings Inc, for investing at scale without impacting his pace and
strategic view.

 

"I hated to do it but my balance sheet shrank by almost $2B this week," he
mentioned in the tweet here thread, adding a sad emoji.

 

In the long tweet thread, mentioning about reviewing and remodeling of
everything he invested in, Palihapitiya also clarified that he did not sell
any shares of any other SPAC he launched.

 

A regulatory filing showed Palihapitiya sold 6.2 million shares in the space
tourism company he helped take public in 2019, for around $213 million.

 

In an emailed statement through a spokesman on Friday, Palihapitiya said he
would redirect the funds from the share sale toward a “large investment”
focused on the fight against climate change.

 

Virgin Galactic did not immediately respond to request for comment.

 

 

 

BT denies any CEO rift behind chairman's retirement

LONDON (Reuters) - BT denied any “misalignment” between board and management
on Saturday after Sky News said that CEO Philip Jansen had indicated he
might resign unless the company replaced its chairman.

 

The British broadband and mobile telecoms operator said on Monday that Jan
du Plessis, who was appointed chairman in November 2017, had informed the
board of his intention to retire once a successor has been appointed.

 

“The chairman throughout his tenure has demonstrated strong leadership ...
been extremely supportive of management and any suggestion that he has
impeded the transformation of BT is without foundation,” BT said in a
statement on Saturday.

 

“There has been no misalignment between the board and executive management
over the company’s strategy,” BT added.

 

On Friday Sky News reported that Jansen, who joined BT as CEO in 2019, had
told fellow directors he was frustrated with the speed at which it was
taking key strategic decisions.

 

Jansen indicated that he was prepared to resign unless a new chairman who
could accelerate the pace of change was appointed, Sky News said, citing
several people close to the company.

 

Jansen is seeking to make the former monopoly more agile.

 

He wants BT to accelerate Britain’s shift to fibre and 5G networks, and he
is pushing the government and regulator Ofcom to create the conditions that
would allow him to turn on the taps to billion of pounds of investment.

 

That aim was boosted by changes to corporation tax announced on Wednesday to
incentivise investment.

 

Jansen said in November he was open-minded about selling a stake in the
company’s networks unit Openreach.

 

However, he said any decision would come after Ofcom publishes its new
framework.

 

Du Plessis sought to build bridges with Ofcom during his tenure. “Above all,
our relationship with Ofcom has improved significantly over the last three
years,” he said on Monday.

 

 

 

More than 20,000 U.S. organizations compromised through Microsoft flaw

WASHINGTON (Reuters) - More than 20,000 U.S. organizations have been
compromised through a back door installed via recently patched flaws in
Microsoft Corp’s email software, a person familiar with the U.S.
government’s response said on Friday.

 

The hacking has already reached more places than all of the tainted code
downloaded from SolarWinds Corp, the company at the heart of another massive
hacking spree uncovered in December.

 

The latest hack has left channels for remote access spread among credit
unions, town governments and small businesses, according to records from the
U.S. investigation.

 

Tens of thousands of organizations in Asia and Europe are also affected, the
records show.

 

The hacks are continuing despite emergency patches issued by Microsoft on
Tuesday.

 

Microsoft, which had initially said the hacks consisted of “limited and
targeted attacks,” declined to comment on the scale of the problem on Friday
but said it was working with government agencies and security companies to
provide help to customers.

 

It added, “impacted customers should contact our support teams for
additional help and resources.”

 

One scan of connected devices showed only 10% of those vulnerable had
installed the patches by Friday, though the number was rising.

 

Because installing the patch does not get rid of the back doors, U.S.
officials are racing to figure out how to notify all the victims and guide
them in their hunt.

 

All of those affected appear to run Web versions of email client Outlook and
host them on their own machines, instead of relying on cloud providers. That
may have spared many of the biggest companies and federal government
agencies, the records suggest.

 

The federal Cybersecurity and Infrastructure Security Agency did not respond
to a request for comment.

 

 

Earlier on Friday, White House press secretary Jen Psaki told reporters that
the vulnerabilities found in Microsoft’s widely used Exchange servers were
“significant,” and “could have far-reaching impacts.”

 

“We’re concerned that there are a large number of victims,” Psaki said.

 

Microsoft and the person working with the U.S. response blamed the initial
wave of attacks on a Chinese government-backed actor. A Chinese government
spokesman said the country was not behind the intrusions.

 

What started as a controlled attack late last year against a few classic
espionage targets grew last month to a widespread campaign. Security
officials said that implied that unless China had changed tactics, a second
group may have become involved.

 

More attacks are expected from other hackers as the code used to take
control of the mail servers spreads.

 

 

The hackers have only used the back doors to re-enter and move around the
infected networks in a small percentage of cases, probably less than 1 in
10, the person working with the government said.

 

“A couple hundred guys are exploiting them as fast as they can,” stealing
data and installing other ways to return later, he said.

 

The initial avenue of attack was discovered by prominent Taiwanese cyber
researcher Cheng-Da Tsai, who said he reported the flaw to Microsoft in
January. He said in a blog post that he was investigating whether the
information leaked.

 

He did not respond to requests for further comment.

 

 

Nigeria: Demand By Nigerians in Diaspora Boosts Exports

Nigeria is exporting more products by air than it has ever done in the past
and most of the products are meant for Nigerians who live abroad, THISDAY's
findings showed.

 

The development was confirmed by aviation handling companies, which stated
that export of perishables and other Nigerian edible products was on the
rise.

 

The Managing Director of Skyway Aviation Handling Company Plc (SAHCOL),
Basil Agboarumi told THISDAY in a telephone chat that Nigerians in Diaspora
long for Nigerian foods and other items, adding that Nigerian businessmen
and women have risen to the occasion by providing and packaging these
products according to required specification to export them.

As a handling company, Agboarumi said his organisation has the needed
facilities to keep the product in the standard condition as required by each
country it is to be exported to before such products are taken out of the
country.

 

The SAHCOL boss said that most of the products are taken to Europe, the
United States and other places and each country has its specifications for
the screening and preservation of the products.

 

He also said the handling companies, which provide services for the export
of these products, are expected to have certification that would qualify
them to handle the exports.

 

He also acknowledged that the rate of export cannot be matched with the
volume of imports but what is interesting is that there were not much
exports few years ago, so the increase in the export of Nigerian products is
a recent development.

"There are a lot of things that are being exported from Nigeria and these
include farm produce; edibles, manufactured goods, hair extension and even
vehicle spares that are exported to some countries in Africa.

 

"So now that export is rising, the handling companies ought to have certain
facilities and to meet the standard of each exporting country.

 

"These requirements are known by Customs so they inspect the products to
ensure they meet the standard of the countries they are being taken to.

 

"Other agencies such as the National Drug Law Enforcement Agency (NDLEA),
Quarantine and others inspect the products before they are packaged and
loaded in aircraft and exported," Agboarumi said.

 

The Chief Executive Officer of Mainstream Cargo Limited, Seyi Adewale, told
THISDAY that Nigeria was building big business around the export market.

He stated that airline cargo export has significantly increased, adding that
most of the exports are going to the UK, where Nigeria has high population
and also other parts of Europe.

 

"Airline cargo export has significantly increased. For example, one of the
major cargo airlines only recently moved up its export tariff because it
couldn't cope with approximately 60 tonnes of general foodstuff item to UK.

 

"UK remains Nigeria's primary destination of foodstuff followed by Germany
and USA. In fact, German authorities appear to be placing strict
restrictions on foodstuff items from Nigeria. Secondly, repair of spares,
such as turbines are very significant exports out of Nigeria

 

"Another European carrier that uses half of its passenger aircraft belly for
cargo moves principally foodstuff to both UK and Germany.

 

It moves converters/ fibers of an average of five tonnes per week to
Brussels, Prague and Frankfurt and spare parts when they have available
space Lastly, we have seen increase in perishables such as vegetables
although this could be categorised under foodstuff. Nigeria is already
building big business around the export market. For example, three
consolidators in Nigeria are already moving approximately 80 tonnes of
foodstuff per week from Nigeria," he said.

 

THISDAY investigation also revealed that the Nigerian Export Promotion
Council (NEPC) is helping businesses that are into export by easing the
process and even engaging airlines with cargo planes to airlift the products
to their intending destinations.

 

An entrepreneur and the Chief Executive Officer (CEO), Bubex Foods, Miss
Ijeoma Ndukwe who is into export of consumables, said recently that the
company embarked on exportation of Bubex pap to Europe and America due to
the encouragement received from the government.-This Day.

 

 

 

Kenya: State U-Turn On Changes to Kenya-UK Trade Deal

The Executive has bowed to pressure from Parliament and allowed MPs to make
amendments to the Kenya-UK trade deal. However, the changes shall be
considered a year after the deal comes into force.

 

Trade and Cooperatives PS Johnson Weru appealed to lawmakers to pass the
ratification of the pact with reservations.

 

"Should Kenyans through their representatives in Parliament express
reservations, they can be considered one year upon ratification of the
agreement," Mr Weru said.

 

The PS said the memorandum sent to Parliament by Trade Cabinet Secretary
Betty Maina barring MPs from making any changes to the pact was not part of
the Economic Partnership Agreement (EPA).

 

"We want to convince members to become our ambassadors during debate on the
ratification," Mr Weru said.

 

Ms Maina said Kenya has a choice to continue with the partnership or abandon
it altogether within a year if it is not working for its people.

Trade Chief Administrative Secretary Lawrence Karanja said though MPs cannot
change the agreement that has already been signed, there is room for review.

 

"They can pass it with recommendations. We shall then communicate the
reservations to our trade partners so that they can be considered during the
implementation," Mr Karanja said.

 

The about-turn by the ministry came a day after lawmakers threatened to
shoot down the trade agreement if they are not allowed to make changes.

 

The MPs were angered by paragraph 16.1 of the EPA that accompanied the
memorandum of the trade pact sent to Parliament, which stipulates that EPA
Act does not permit any amendments during ratification.

 

The lawmakers argued that the clause that bars them from making changes to
the pact interferes with the sovereignty of Kenya.

Kiambu Town MP Jude Njomo yesterday said there is no point of taking the
memo to Parliament if nothing can be amended.

 

"Parliament must be allowed to do its duty," he said.

 

Trade stakeholders yesterday expressed mixed opinions about over the
Kenya-UK agreement.

 

Those in support said the benefits outweigh the fears expressed by those
against it.

 

Flower Council of Kenya chairman Richard Fox told the Adan Haji-led National
Assembly Trade, Industry and Cooperatives Committee that the deal gives the
organisation a level-playing field with competitors from Colombia and
Ethiopia.

 

Mr Fox said the eight per cent import duty being charged by the UK is too
high and not sustainable to the Kenyan flower stakeholders.

 

"If the agreement is not implemented, our businesses will collapse," Mr Fox
said.

 

Fresh Produce Association chief executive Geoffrey Rimbere said the pact is
a favour to local traders.

 

However, Econews Africa said the deal does not comply with the East African
Community customs union protocol- Nation.

 

 

 

Nigeria: Govt Launches Its National Cyber-Security Policy As African
Cyber-Threats Mount - How It Will Turn Policy Into Practical Action

London — At the end of February the Nigerian Government launched its
National Cyber-Security Policy and Strategy, a weighty document that tackles
an increasingly pressing issue. Russell Southwood spoke this week to
Abdul-Hakeem Ajijola, the Chair of the Committee that oversaw the production
of the report.

 

An excellent article by Nathaniel Allen, Africa Centre for Strategic Studies
at the beginning of this year sets out some excellent African examples of
cyber-threats (see link at bottom of this article):

 

- In June 2020, the Ethiopian Information Network Security Agency (INSA)
thwarted a cyberattack from an Egypt-based actor known as the Cyber_Horus
Group. According to INSA, the purpose of the attack was to create
significant "economic, psychological, and political pressure on Ethiopia"
over the filling of the Nile River's Grand Ethiopian Renaissance Dam
(GERD)... Though Ethiopian authorities claimed to have averted a broader
attack, the Cyber_Horus Group did manage to hack into a dozen or so
government webpages, posting messages threatening war if Ethiopia began
filling the dam.

 

 

- The rapid diffusion of cyber capabilities and surveillance technology
gives a wide range of actors operating in or targeting Africa the ability to
conduct cyber espionage. For example, Pegasus malware, among the most
sophisticated pieces of espionage software ever invented, was recently
discovered to have infected systems in 11 African countries. The attackers
were likely engaged in both espionage and domestic surveillance and appear
to have come both from within and outside of Africa, with some targeting
multiple countries.

- The espionage threat to the AU from China is so far reaching, in part,
because of China's role in providing the AU with ICT infrastructure. The
Chinese built the African Union's headquarters, which enabled it to build
backdoors into AU servers and plant listening devices. China may have
similar capabilities elsewhere in Africa, where it has built up to 80
percent of all existing telecommunications networks and set up government
networks in over 20 countries.

 

- The National Security Agency of Nigeria and the municipal government of
Johannesburg have each been victims of attacks that shut down services or
leaked sensitive information.

 

According to Allen, only 15 African countries have completed national
cyber-security strategies, which lay out strategic objectives and assign
government-wide responsibilities for cyber threat monitoring and response.
Eighteen have established the equivalent of national computer incident
response teams (CIRTs), or multi-stakeholder groups of cybersecurity
professionals who help countries respond to and recover from major security
incidents. Only six African countries have ratified the Budapest Convention
on Cyber Crime and eight the African Union Malabo Convention on
Cybersecurity and Personal Data, two important treaties that help African
nations share threat information, set uniform standards, and benefit from
technical assistance and cooperation from the international community.

Nigeria had its first ratified Cyber-Security Policy in 2015 and the current
one is an updating and development of this original strategy. Ajijola told
me:"We called it a review." And as he pointed out to me many of the threats
are as much analogue as digital. The Committee responsible for the review
was multi-stakeholder with members from civil society, academia and the
private sector, as well as Ministries and Government agencies.

 

"In terms of the institutional architecture, different organizations have
different responsibilities but we all have a collective responsibility.
Everybody has a stake from the street vendor with a new phone to the
Presidency." There will be a Nigerian Cyber Security Co-ordination Centre
and he asks me to highlight the word co-ordination:"We want to reduce the
silos."

 

"There's already a national CERT team within the Office of the National
Security Advisor and this will be a departmental unit of the Centre. It's
not an agency but a Centre. The Administration doesn't have the appetite for
a new agency but we thought let's get something moving (with a Centre).
We're looking forward to a Centre that has a much more public-facing
capacity, a reach-out function."

 

The Centre will encourage different sectors of the economy to work on their
own policies and structures:"For example, the Central Bank will do its own
banking and finance operation and all regulators will be encouraged to do
this: for example, sectors like civil aviation, telecoms and so on."

 

The strategy has a focus on two key things:"Firstly, how do we foster
cyber-security solutions as a sub-sector. We had virtual meetings with
global and indigenous players. Secondly, let's not make it a problem and a
cost-centre, let's make it a societal profit centre. The African
cyber-security market is estimated to be worth around US$1 billion and will
rise to US$4-5 billion. What jobs and taxes can you create from this
opportunity?"

 

In strategic terms, the Policy has eight pillars plus one:

 

Strengthening Governance and Co-ordination

Strengthening legal and regulatory frameworks

Assurance: Monitoring and evaluation

Fostering protection of critical national information infrastructure

Enhancing Cyber Defence Capability

Enhancing international co-operation (recognizing the need for a cadre of
cyber-diplomats)

Improving cyber-security incident management

Promoting a thriving digital economy

The plus one is how it might support anti-corruption activities:"We key into
some of the themes of Government: how it can be used to try and moderate
corruption and support anti-corruption activities?"

 

This week has also seen the launch of the Africa Online Safety Fund. The
exponential increase in internet, smartphone and mobile network usage has
created extraordinary new opportunities for socio-economic development on
the African continent. However, this rapid growth rate has simultaneously
created a range of safety concerns, including:

 

Identify theft

Bullying and harassment

Sex trafficking

Hate crimes

Terrorist recruitment and promotion

Mis or disinformation

Financial scams

To address these issues, Impact Amplifier has created the Africa Online
Safety Fund, with financial support from Google.org, and domain expertise
from the Institute for Strategic Dialogue to finance innovative existing and
new solutions to these challenges.

 

After a continent wide search, Impact Amplifier will be awarding grants from
$10,000 - $100,000 to 26 organisations, from nine African countries. Click
here to read more about the awardees and the online safety issues they will
be addressing.

 

https://www.impactamplifier.co.za/news/impact-amplifiers-africa-online-safet
y-fund-award-winners?utm_source=Newsletters&utm_campaign=580154c010-EMAIL_CA
MPAIGN_2020_08_07_10_13&utm_medium=email&utm_term=0_126c8fa69c-580154c010-36
722139

 

Worth following up:

 

Africa Centre for Strategic Studies

 

Africa's Evolving Cyber Threats

 

https://africacenter.org/spotlight/africa-evolving-cyber-threats/

 

Download a copy of the policy:

 

https://cert.gov.ng/ngcert/resources/NATIONAL_CYBERSECURITY_POLICY_AND_STRAT
EGY_2021.pdf

 

In Brief

 

MTN Rwanda has launched a new music streaming service, MusicTime, that
charges by the minute. The pay-as-you-go music streaming service allows
customers to access both local and international music content at zero data
cost. MTN customers can download the music app and can buy 120 minutes for
around $0.20 or 300 minutes for $0.45. In both cases, the minutes are only
valid for a week. The registration process requires customers to input their
mobile number, the One Time Password (OTP) and a username to complete
registration. The service is exclusive to MTN customers. MusicTime is new to
Rwanda but not to the African market. MTN first launched MusicTime in South
Africa in 2019 then shortly after acquired Simfy. (Source: Nexttv News)

 

Telecom Egypt, one of the largest subsea cable operators in the region,
announces its plans to launch Hybrid African Ring Path (HARP) by 2023, a new
subsea system that will outline the African continent, forming the shape of
a harp. (Source: Tech News Africa)

 

The Botswana Research and Education Network (BotsREN) has become a
registered member Research and Education Network (NREN) of UbuntuNet
Alliance for Research and Education Networking.

 

UbuntuNet Alliance is an Association of NRENs of Eastern and Southern
Africa, connecting them to each other and the general Internet through the
UbuntuNet Network. (Source: Press release)

 

Mobile operator Expresso Telecom in Senegal, a subsidiary of Sudanese
Sudatel, has finally obtained the confirmation of the telecom regulator to
launch 4G, after several months of negotiations. The arrangement was signed
last February 26, 2021, when a delegation of the Sudanese telecom group
arrived in Senegal. Led by Magdi Taha the CEO of Sudatel, the delegation was
offered an audience by President Macky Sall himself. The telecom regulator
said, "Thanks to a balanced electronic communications sector, the launch of
4G by Expresso Senegal is a great leap in the promotion of digital
technology as a growth driver." Expresso Telecom received the 4G license a
few days after the telecom regulator provided a formal notice to the
company, accusing it of insufficient investment in its network.

 

ImaliPay, an African-based fintech start-up is making waves by reshaping the
future of work in the gig economy. The Australian venture capital firm TEN13
reputed for investing in top-tier start-ups has invested an undisclosed
amount of pre-seed funding in ImaliPay. ImaliPay joins TEN13's growing
fintech portfolio; the likes of Chipper Cash and Bookipi. Other investors
included in the raise are; Finca Ventures, Optimiser Foundation, Mercycorps
Ventures, Changecom, and super angels from Norway, Nigeria, UK, and Kenya.
The primary aim of the investment is to expand and accelerate its growth and
footprint in Kenya, Nigeria, and South Africa to be the one-stop-shop for
gig workers' financial needs. (Source: Press release)

 

Vodacom DRC and Mondia have announce the rollout of the Mum & Baby maternal
health service across the DRC. Mum & Baby is a free-of-charge mobile health
intervention service that provides Vodacom DRC subscribers with maternal,
neonatal and child health information designed to encourage good health
practices amongst pregnant women, mothers, partners and caregivers. Mondia
creates Mum & Baby's tailored content in the local language, and includes
expert articles, videos and information-sharing SMS messages.

 

The Central Bank of Somalia (CBS) has announced it has awarded the country's
first mobile money licence to Hormuud Telecom (HorTel). The licensing and
regulation of mobile money service providers has been a key priority area
for the CBS, as it seeks to ensure financial inclusion, consumer protection
and financial stability.

 

Balancing Act publishes a wide range of video and other resources, which can
be found on the original of this article on their website.

 

 

 

Nigeria: Bala-Usman - NPA Contributed N151 Billion to Govt in Four Years

The Managing Director of the Nigerian Ports Authority (NPA), Hadiza
Bala-Usman, has revealed that the agency has contributed N151 billion to the
Consolidated Revenue Account (CRA) in four years.

 

Bala-Usman, who stated this in an interview with editors of newspapers in
the country, said the NPA contributed N42 billion in 2017, N33 billion in
2018, N31 billion in 2019 and N45 billion in 2020 .

 

According to her, "Our cargo for 2019 was 80 million metric tons in the
whole country. In 2020 we recorded 78 million metric tons, so we can see the
difference in how much we were able to attract into the country within that
period and the differential.

"For container traffic, 1.84 million TEUs in 2019 and 1.86 million in 2020,
called vessels was 4,251 in 2019 and 3,972 in 2020. Gross registered for the
vessels

 

was 29.4 million in 2019 and 24.6 million in 2020. "There is a marginal drop
because of the pandemic and we even thought it would be less but it is not
materially different."

 

The Tin Can Island and Port, she said, had the highest number of called
vessels -1,197 vessels while Apapa port recorded 986 vessels within that
period.

 

The NPA, Bala-Usman added, recorded total revenue of N305.3 billion in 2019
and N360 billion last year.

 

"This contribution to CRF is in line with the fiscal responsibility act
which requires for government agencies to make remittance surplus to the
government coffers.

 

"Ensuring strict compliance to that is what we have sworn to do so that we
are meeting the full compliance to the Fiscal Responsibility Act. So this is
the general overview of what we have been doing and our area of focus," she
added.

She said one of the key issues that have been bedeviling the NPA's
operations within the Lagos area has been the traffic congestion in Apapa
and Tin Can Island.

 

"That is a monster that we have been grasping with, it's a bit challenge. I
have always had a particular perception of how to resolve it, there are
different layers of intervention that kept coming on but for me I had a
particular thing I thought was the right thing. It took a while for people
to sort of come to terms with it but I will just give a quick overview about
what it is - it is an electronic app - it is e-toll, some of you might have
heard the jingle on the radio.

 

"It is an e-call up system which seeks to remove the human intervention in
the process of calling up trucks and an integral part of it is the provision
of Approved Truck Park, meaning that all trucks coming into the port will go
and park in a designated Truck Park and then use an electronic call up to be
called upon to the port when the cargo is ready to be picked up, "she said.

She said trucks going into the port you must be parked in a Truck Park,
stressing that trucks must be called upon using the e-column going forward.

 

"So for me sanitising the port corridors is to have a designated parking
space, if you don't tell people where to park, they park anywhere. So the
onus is on you to provide them with where to park.

 

"We have had this debate over the past two/three years with the Presidential
Taskforce, the vice president.

 

"You must define your parking and you now need to call people up
electronically, remove that control from the taskforce and make it
electronic, and then make it transparent and make it also first come, first
serve.

 

"We have deployed, we have done the advert, we have seven Truck Parks that
are available for use, and we are doing this in conjunction with Lagos State
Government. We will be kicking this off on 27thmeaning that you cannot go
into the port if you are not parked in these Truck Parks.

 

"We are going to get a lot of push backs, we have seen push backs already,
there are various taskforce that are being re-introduced, we are focus on
implementing the e-call ups.

 

"If you are found on the round around the port environ, your truck will be
impounded - we are working with the Road Safety, LASTMA and the Police
command on that. We will have a few months of hitches but I believe this
will really be the solution to our congestion, "she said.

 

Speaking further, Bala-Usman added: "There is also another things that has
been a critical issue for consignees, is that when you get your cargo from
the port with the container, you are required to return your empty container
to the port, so your inability to drop the container you lose a deposit.

 

"So shipping companies have been milking Nigerians for that. So you collect
your cargo and then you want to return the empty container to the port but
you are not able to get access to the port."-This Day.

 

 

 

Senegal: Govt Restricts Internet As Protests Escalate

Angered by opposition leader Ousmane Sonko's arrest, his supporters took
part in the worst unrest seen in years in the West African country.

 

Unrest continued of Friday amid are mixed reports of restricted internet
access in Senegal.

 

Senegalese police and supporters of detained opposition leader Ousmane Sonko
returned to the streets following unrest on Thursday that left one person
dead.

 

The leader of the Pastef party was arrested on Wednesday for disturbing
public order ahead of his court appearance on a rape charge in the West
African country.

 

Reports of an internet blackout

 

Internet monitor NetBlocks said social media and messaging apps including
Facebook, WhatsApp, and Youtube had been restricted early on Friday ahead of
a planned demonstration by civil society and opposition parties led by
protest movement "Y En A Marre" (Enough is Enough).

"It's true that all of last night, beginning at 9 p.m. [local time, 21:00
UTC] my WhatsApp connection stopped working properly. But at the same time,
I also did not experience any difficulties sending Emails," DW correspondent
Robert Ade reported from capital city Dakar.

 

DW digital security expert Oliver Linow tweeted that the demand for
so-called Virtual Private Networks (VPNs) to circumvent social media
platforms blocks had risen in Senegal, according to Google Trends.

 

He advised internet users to "only install trustworthy VPN apps" or to "use
Tor" -- otherwise known as the onion router, the free software helps users
conceal their location while on the internet.

 

Another DW correspondent, Mamadou Alpha Diallo reported no internet slowdown
in Casamance region, south of the Gambia.

 

What happened during the unrest?

 

Hundreds of people followed Sonko's motorcade on Wednesday, as he traveled
to a court to deny rape charges filed against him last month by an employee
at a salon where he received massages.

Supporters sounded horns and sang before clashes erupted, and Sonko was
arrested before even reaching the court.

 

Angry protesters attacked the headquarters of state-owned Le Soleil and
radio station RFM on Thursday evening for their close government ties.

 

Authorities suspended two private television stations, Sen TV and Walf TV,
for 72 hours from 5 p.m. on Thursday. Government officials accused them of
"stirring up hatred and violence."

 

The death happened after clashes on Thursday in Bignona town in the southern
Casamance region, the police official said. Four police were also injured in
the fighting.

 

At Dakar's Cheikh Anta Diop University, students on Thursday threw concrete
blocks at police.

 

The police responded with tear gas and stun grenades, a reporter for news
agency AFP reported from the scene.

 

Who is Ousmane Sonko?

 

A 46-year-old Muslim, Sonko is frequently critical of Senegal's ruling elite
andis popular with young people.

 

He ran against President Macky Sall in the 2019 vote but finished third in a
race that delivered the incumbent a second term.

 

Sonko is considered a key potential challenger to Sall in elections in three
years.

 

Presidents in the former French colony are limited to two consecutive terms,
but Sall launched a constitutional review in 2016, raising suspicions he
intends to run again.

 

Sonko maintains the charge against him is politically motivated.

 

Dakar residents speak to DW

 

"It is all so political, everything that has happened to him [Ousmane Sonko]
is political," Khalifa, who only wanted to be identified by his first name,
stressed to DW in Dakar.

 

Aicha another resident in Dakar told DW: "We cannot judge or decide what
exactly happened, but his arrest will only make things worse, while there
are things that are more urgent. It is developing into a case within another
case. But to clarify whether there was a rape, in my opinion, remains the
priority and the most important thing."

 

Analyst Mor Gassama said he felt the whole story was not being told:
"Someone who leaves his house to answer a judge's summons should not be so
provocative. They [the police] could have made it easier for him [to reach
the court] with a motorcycle escort. All this gives the impression that
there are things in this affair that remain unspoken."

 

What's next?

 

Sonko was scheduled to be transferred on Thursday evening to a Dakar
courthouse where his case will be heard by a judge, but his lawyers said the
hearing had been postponed to Friday.

 

The streets of Dakar were quiet early on Friday, despite the planned
protests.-kmm/msh (AFP)

 

 

 

South Africa: Mpumalanga Focuses On Reviving Economy

Mpumalanga Premier, Refilwe Mtshweni-Tsipane, has committed to prioritising
economic transformation and mass job creation by aligning the province's
plans to the national Economic Reconstruction and Recovery Plan.

 

The recovery plan was unveiled by the President in October 2020, in an
effort to assist the country's economy recover from the devastating effects
of the COVID-19 pandemic.

 

Delivering the State of the Province Address on Friday, the Premier said the
province will intensify the roll out of the Mpumalanga Industrial
Development Plan, the Nkomazi Special Economic Zone (SEZ) and the Mpumalanga
International Fresh Produce Market.

 

The Nkomazi SEZ and Mpumalanga International Fresh Produce Market have the
potential to place the agricultural sector on a growth trajectory, create
massive job opportunities and investments for the province.

 

"These initiatives will open opportunities for value chains development,
agro-processing, trade and export, including the agricultural development of
the Southern African Development Community (SADC) region.

 

"We are beginning to see progress in the construction of the Mpumalanga
International Fresh Produce Market. As we speak, we anticipate the
finalisation of the main market by the end of the upcoming financial year,"
the Premier said.

 

The province is working together with the Department of Trade, Industry and
Competition, the Nkomazi Local Municipality, the Ehlanzeni District
Municipality and traditional authorities to finalise all the statutory
requirements needed to ensure that the SEZ site is legally compliant.

 

The province is also working on concluding all the planning and design work,
so that the development of the site can commence in the upcoming financial
year, and on strengthening the investment pipeline.

 

"The Nkomazi SEZ has received a boost following a very ambitious investment
proposal by a Mpumalanga based property development company. As a province,
we have been actively engaging private sector partners, who wish to work
with us in creating an agri-processing facility around the Kruger Mpumalanga
International Airport (KMIA).

 

"These discussions are at an advanced stage and include proposals that
encompass a wide range of investment initiatives, anchored on a regional
beneficiation hub and trade port," Mtshweni-Tsipane said.

 

The province will ensure that the development of small businesses is
prioritised in the projects, especially enterprises owned by young people,
women and people with disabilities.

District Development Model

 

The province has introduced a new integrated district-based approach to
address service delivery challenges, prioritise procuring locally and create
jobs within communities

 

"Embedded within the implementation of the District Development Model are
individualised Economic Recovery Plans per district, which will direct the
economic potential of the Districts by leveraging local resources across the
three spheres of government, business and communities in order to address
the economic challenges confronting each district.

 

"The public-private partnership component within the District Development
Model is beginning to bear fruit. In Steve Tshwete local municipality, we
will be working together with private sector partners to build a R350
million four-star hotel," the Premeir said.

 

This public-private partnership project has Akani Properties, a black-owned
property development company, as a partner, along with the internationally
renowned Raddison Hotel Group.

 

"The hotel will have a capacity of 150 beds and a convention centre of 1 000
seats. Part of the conditions of the award is that 10% ownership should be
local and 30% of the construction work should be sub-contracted to local
businesses. This project will create hundreds of jobs during the
construction phase and permanent jobs once operational," the Premier said.

 

The sod-turning ceremony for this project is expected to take place by the
end of the month.

 

The province has also identified other important economic measures as part
of its drive to create more jobs and fight the scourge of poverty and
inequality.

 

These include, but are not limited to:

 

Ensuring that all departments eliminate bottlenecks and pay valid invoices
within 30 days;

 

Providing relief funding to small, micro and medium enterprises (SMMEs);

 

Implementing the Mpumalanga Tourism Recovery Plan;

 

Fast-tracking support to Highveld Steel in order to promote the
establishment of the Mining and Metal Industrial Technology Park, and

 

Also fast-tracking the establishment of the Petro-chemical Industrial
Technology Park and Forestry Industrial Technology Park.

 

Fighting corruption

 

The Premier expressed the province's commitment to fight corruption.

 

"We will fight corruption in government whenever and wherever it rears its
ugly head. I have instructed Provincial Treasury to collaborate with the
Office of the Auditor-General to vigorously implement the provisions of the
Audit Amendment Act to ensure that perpetrators of financial misconduct not
only incur criminal prosecution but are also held personally liable for the
mismanagement of public resources," she said.

 

Mtshweni-Tsipane said the province will continue to petition the Special
Investigating Unit to probe instances of prima-facie financial
mismanagement.

 

"This administration will strive to give our people the confidence they are
looking for in the management of public funds," she said.-SAnews.gov.za.

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> info at bulls.co.zw  

Website:         <http://www.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:
<https://bullszimbabwe.com/category/blogs/bullish-thoughts/>
www.bullszimbabwe.com/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:
<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
bwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA>
www.facebook.com/BullsBearsZimbabwe

Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2021

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


ART

PPC

Dairibord

 


Starafrica

Fidelity

Turnall

 


Medtech

Zimre

Nampak Zimbabwe

 


 

 

 

 


 <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 sources 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 sourced from third parties.

 


 

 


(c) 2021 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:
<mailto:info at bulls.co.zw> info at bulls.co.zw Tel: +263 4 2927658 Cell: +263 77
344 1674

 


 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210307/7171aac3/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210307/7171aac3/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 31039 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210307/7171aac3/attachment-0002.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.png
Type: image/png
Size: 184580 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210307/7171aac3/attachment-0004.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210307/7171aac3/attachment-0005.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 22328 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210307/7171aac3/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65561 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20210307/7171aac3/attachment-0001.obj>