Major International Business Headlines Brief::: 07 December 2022

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Major International Business Headlines Brief::: 07 December 2022 

 


 

 


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ü  Meta threatens to remove US news content if new law passes

ü  DR Congo: Miner Glencore pays $180m in latest corruption case

ü  Kyrie Irving: Nike ends sponsorship deal with Brooklyn Nets guard after
social media post

ü  Covid restrictions hit iPhone maker Foxconn

ü  Taylor Swift: 'Swifties' sue Ticketmaster over tour sale problems

ü  PwC to close offices at Christmas to save energy

ü  Meta, Amazon, Twitter layoffs: 'Tech layoffs won't destroy American
dreams of Indians’

ü  Fenwick to shut 130-year-old New Bond Street department store

ü  December strikes: Who is striking and what are their pay claims?

ü  Northampton sees one of UK's biggest shifts from retail to dining

ü  England’s World Cup run gives West's pubs 'big boost'

ü  How lockdown changed Scotland's high streets

ü  Kenya: Covid-19 Spurs Growth of E-Commerce in Kenya, Study Reveals

ü  South Africa: Diesel Prices Decrease, Increase for Petrol Consumers

ü  South Africa: Square Kilometre Array Observatory Construction Begins in
Northern Cape

ü  South Africa: New Full-Time Lotteries Boss to Be Appointed Early Next
Year

ü  South Africa: GDP Rises By 1.6 Percent

 


 

 


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Meta threatens to remove US news content if new law passes

Meta has threatened to remove news content from Facebook in the US.

 

It objects to a new law that would give news organisations greater power to
negotiate fees for content shared on Facebook.

 

A similar law, passed in Australia, led to news on Facebook being briefly
suspended last year.

 

Meta claims their platform, in fact, provides increased traffic to
struggling news outlets.

 

It says publishers put their content on Facebook because "it benefits their
bottom line."

 

The legislation, known as the Journalism Competition and Preservation Act
(JCPA) was introduced in Congress by Minnesota Senator Amy Klobuchar and has
bipartisan support.

 

It would give publishers and broadcasters greater powers to collectively
bargain with social media companies for a larger share of ad revenue.

 

Media companies argue that Meta generates huge sums of money from news
articles shared on the platform.

 

Local news in particular struggled during the pandemic, as Meta made huge
profits.

 

However Meta argues that this narrative is wrong. Instead, it says, Meta
drives traffic to news sources.

 

Meta spokesperson Andy Stone said: "If Congress passes an ill-considered
journalism bill as part of national security legislation, we will be forced
to consider removing news from our platform altogether".

 

Meta also argues that sharing news on Facebook accounts for only a fraction
of its revenue.

 

A similar Australian law, which took effect in March 2021, led to a brief
shutdown of Facebook news feeds in the country.

 

The company quickly reversed the decision after wide-ranging criticism -
brokering a deal with the Australian government.

 

In a statement about Australia's proposed law last year, a spokesperson for
Meta said, "for Facebook, the business gain from news is minimal. News makes
up less than 4% of the content people see in their News Feed."

 

The US legislation is part of a larger set of laws aimed at tackling the
dominance of Big Tech.

 

Supporters of the JCPA say social media will become America's "de facto
local newspapers" if the act doesn't pass.

 

Matt Stoller, Director of Research at the American Economic Liberties
Project, said media outlets were being "eaten alive" by Meta.

 

"Meta's efforts to blackmail Congress prove again why this monopoly is a
threat to democracies worldwide," he said.-BBC

 

 

 

DR Congo: Miner Glencore pays $180m in latest corruption case

The Swiss-based mining company, Glencore, has said it will pay $180m (£147m)
to the Democratic Republic of Congo to settle corruption claims.

 

The agreement covers an 11-year period from 2007 to 2018.

 

It is the latest in a series of corruption cases which has seen Glencore
agree to pay out more than $1.6bn in fines this year.

 

In May it admitted bribing officials in several African nations including DR
Congo (DRC).

 

The Congolese government has told the BBC it is not commenting.

 

It followed an investigation by American, British and Brazilian authorities
that also covered corruption claims in Latin America.

 

Despite the fines Glencore is expected to make record profits of around
$3.2bn this year.

 

There have been various investigations into the miner's activities in the
DRC between 2007 and 2018 which uncovered evidence of bribery.

 

In May, the US Department of Justice said that Glencore had admitted to
corruptly conspiring to pay around $27.5m to third parties to secure
"improper business advantages" in DRC, while "intending a portion of the
payments to be used as bribes".

 

Glencore owns several assets in the country, including the Mutanda
copper-cobalt mine and a controlling stake in KCC, a large copper-cobalt
project.

 

The mining firm said the settlement with the Congolese government would
cover "all present and future claims arising from any alleged acts of
corruption" by the Glencore Group between 2007 and 2018.

 

"Glencore is a long-standing investor in the DRC and is pleased to have
reached this agreement to address the consequences of its past conduct,"
Glencore's chairman Kalidas Madhavpeddi said.

 

In May, Glencore also admitted to paying millions in bribes to officials in
Cameroon, Equatorial Guinea, Ivory Coast, Nigeria, South Sudan, Brazil and
Venezuela.

 

It has received a series of penalties, with a UK court last month ordering
the company to pay more than £285m over African bribes linked to its
London-based commodities trading desk.

 

Remarking on the culture that developed at Glencore, Mr Justice Fraser said
that "bribery was accepted as part of the West Africa desk's way of doing
business".

 

"Bribery is a highly corrosive offence. It quite literally corrupts people
and companies, and spreads like a disease," he added.

 

Glencore's chairman has admitted "unacceptable practices" have taken place
but that the firm today is "not the company it was".

 

Glencore is one of the world's largest commodities companies, employing
around 135,000 people in more than 35 countries.-BBC

 

 

 

Kyrie Irving: Nike ends sponsorship deal with Brooklyn Nets guard after
social media post

Nike has ended its sponsorship deal with Brooklyn Nets guard Kyrie Irving
one month after he promoted a documentary which contained anti-Semitic
material on social media.

 

The sportswear giant initially suspended its contract with Irving, who later
apologised.

 

The 30-year-old missed eight games during his suspension from the NBA.

 

Speaking recently, Nike founder Phil Knight said: "Kyrie stepped over the
line. It's kind of that simple."

 

Knight added: "He made some statements that we just can't abide by, and
that's why we ended the relationship. I was fine with that."

 

Seven-time NBA All-Star Irving had partnered with Nike for eight years and,
according to Forbes, had an $11m (£9m) contract with the brand as of 2019.

 

During his suspension, he met NBA commissioner Adam Silver and Jewish
community leaders, while he and the Nets pledged to donate $1m (£820,000) to
combat "hate and intolerance".-BBC

 

 

 

Covid restrictions hit iPhone maker Foxconn

Apple supplier Foxconn says its revenue in November is down 11% compared to
the same month in 2021, following unrest at the world's largest iPhone
factory.

 

It says the drop is a result of its plant in Zhengzhou, China being affected
by coronavirus restrictions.

 

Compared to October its revenue was 29% down, despite making a record 5.9
trillion New Taiwan Dollars (£160bn) from January to November.

 

That is an increase of 13.5% compared to the same period in 2021.

 

The electronics manufacturer, also makes game consoles such as the
PlayStation 5, has cited "strong sales" and "better components supply" among
the reasons for its growth, and blamed the drop in November on coronavirus
restrictions.

 

"The overall epidemic situation has been brought under control, with
November being the most affected period," said a statement from the company,
whose headquarters are in Taiwan.

 

"[We] are gradually moving toward the direction of restoring production
capacity to normal."

 

Protests affect production

Foxconn has faced discontent among its workers in the factory, and has
attempted to find new employees by offering a 1,000 yuan (£117) bonus to
people who recruit a friend or family member.

 

Footage circulated widely online in November showed angry protests at the
factory, amid mass protests in China against the country's zero-Covid
policy.

 

Since then, China has signalled a shift in its Covid stance and moved to
ease some virus restrictions, despite high daily case numbers.

 

Dozens of districts in Guangzhou and Shanghai were released from lockdown
measures at the beginning of December.

 

The country's vice-premier also announced that the country was facing a "new
situation".-BBC

 

 

 

 

Taylor Swift: 'Swifties' sue Ticketmaster over tour sale problems

A group of Taylor Swift fans is suing Ticketmaster after a chaotic, failed
bid to buy tickets for the superstar's upcoming US tour.

 

Ticketmaster was recently forced to cancel the main sale of tickets on its
website, leaving many fans frustrated.

 

The lawsuit, filed by 26 'Swifties' from across the country, alleges that
the company is guilty of fraud, price-fixing and anti-trust violations.

 

Ticketmaster has yet to comment on the filing.

 

The November sale of Swift tour tickets was marred by several issues, with
some fans later reporting that access codes meant to deter bots didn't work
properly and that tickets were being re-sold at higher prices online while
the sale was still going on. The company's website also crashed repeatedly
amid extremely high demand.

 

According to the lawsuit, filed in California, Ticketmaster and its parent
company, Live Nation, imposed artificially high pre-sale, sale and re-sale
prices on fans. The suit claims an "intentional deception" that allowed
third-party scalpers to buy the vast majority of tickets.

 

It also claims that Ticketmaster is a "monopoly that is only interested in
taking every dollar it can from a captive public".

 

In November, the company said that 3.5 million people registered in advance
as "verified fans" in the hopes of getting tickets for Swift's 52-city US
"Eras Tour" next year.

 

Soon after, it said that a "staggering numbers of bot attacks" and
"historically unprecedented demand" had overwhelmed its website.

 

Just hours after the sale began, tickets were being sold on re-sale websites
for prices of up to $22,000 (£17,950).

 

The Swift fans are seeking $2,500 for each alleged violation - a sum that
could potentially amount to millions.

 

"Millions of fans waited up to eight hours and were unable to purchase
tickets as a result of insufficient ticket releases," the lawsuit claims.
"Ticketmaster intentionally provided codes when it could not satisfy
demands."

 

Additionally, it says that artists, including Swift, "have no choice" but to
work with the company "because no other venue can hold half as many people
as the stadiums and venues working through 'Ticketmaster'".

 

Ticketmaster has not publicly commented on the lawsuit, but has previously
apologised to fans for a "terrible experience" as they tried to buy tickets.
The BBC has reached out to the company for additional comment.

 

In a November statement posted after Swift tour ticket sales were cancelled,
Live Nation said that it "takes its responsibilities under the anti-trust
laws seriously" and doesn't "engage in behaviors that could justify
anti-trust litigation, let alone orders that would require it to alter
fundamental business practices".

 

Swift has said it was "excruciating" to watch fans struggle to get
tickets.-BBC

 

 

 

PwC to close offices at Christmas to save energy

One of the UK's largest accountancy firms will close most of its offices
over Christmas and New Year for the first time to save on energy bills.

 

PwC, which employs about 24,000 people, will shut its main London office
from 23 December to 3 January, as well as some smaller sites.

 

Its chairman Kevin Ellis said having all offices open over the festive
period "doesn't make sense at a time of energy scarcity".

 

PwC has 19 offices across the UK.

 

Most staff will be taking annual leave over Christmas, but the Covid
pandemic has meant that working remotely from home is now common practice.

 

Mr Ellis said that staff wanted the company to "do our bit to reduce energy
consumption".

 

"Office life is hugely important to our culture and business," he said. "But
having all our offices open over the holiday period doesn't make sense at a
time of energy scarcity.

 

"We've taken a pragmatic approach ensuring some offices across the country
remain open for those who need them," he added,

 

The accountancy and consultancy firm said its regional offices, which are in
cities including Edinburgh, Belfast and Newcastle, would take a "similar
approach" to its main Embankment Place site in London.

 

An internal memo said that for staff based in the capital, workspace would
be available at its More London base with some regional offices setting out
specific areas for workers to access.

 

PwC has given its staff a lot of control over their working patterns,
including allowing them to start as early or as late as they like.

 

'Opportunity to recharge'

PwC is not the first of the so-called big four accountancy firms to close
offices over Christmas.

 

Deloitte has shut its offices over the festive period for several years. All
of its UK offices will be closed from 23 December and will reopen on 3
January.

 

Meanwhile, KPMG said it would be closing its UK offices over the same period
as it has done previously.

 

"It's a key opportunity for our people to spend time with their friends and
family, as well as recharge," a spokesman said.

 

"During that period, our offices will only be accessible to a very small
number of people who have a business critical need and where remote working
isn't possible."

 

The move by PwC comes as Enel, one of the world's largest energy firms,
warned it "will take years" to get energy prices back to levels seen before
Russia's invasion of Ukraine.

 

The war has caused global energy prices to soar as countries, particularly
those in the EU, look to reduce Russian gas and oil supplies.

 

In a bid to reduce the risk of blackouts, National Grid has offered
households and businesses discounts on their electricity bills if they cut
peak-time use on a handful of days over the winter.-BBC

 

 

 

Meta, Amazon, Twitter layoffs: 'Tech layoffs won't destroy American dreams
of Indians’

Many Indians who work on temporary visas in the US are facing an uncertain
future after mass layoffs at big tech firms. Surbhi Gupta, who lost her job
at Meta, tells her story of in her own words.

 

It was my mum's birthday. I was staying up late to wish her and that's when
I started getting messages from my friends about layoff announcements. They
were all anxious.

 

At around 6am here, I received an email that I'd been let go. I had joined
Meta earlier this year as a product manager. My team was shocked because I'd
been performing really well.

 

It went against my motto, work is worship, instilled early by my favourite
teacher at school. Initially, it felt like the Titanic sinking because I was
losing access to things one by one - workplace, then email, then laptop. But
I was pleasantly overwhelmed and surprised in a positive way by my network
on LinkedIn. Many colleagues, ex-colleagues and friends reached out in a
very supportive way, making introductions and referrals. It made me feel
like I have so many people in this country who care for me, made me feel
like I belong to this country.

 

My last day at Meta is in January and my H1-B visa [a non-immigrant visa
that allows firms in the US to hire foreigners for up to six years] allows
me to stay in the US for another 60 days, so early March is the deadline for
me to find another job.

 

The job search is going to be difficult now as hiring will be slow in
December because of the holidays. But I'm very focused. I am in touch with
multiple companies and exploring options.

 

What I'll miss most about Meta is the workplace and my colleagues. Being at
Meta meant not only being able to build an amazing product for millions of
people, but also being able to participate in fireside chats and growth and
learning opportunities. As a product manager, it would have been rewarding
to see the project I was working on go further.

 

My parents taught me to never give up in life. They tell me to stay strong
because I'm a person who can convert problems into opportunities. They tell
me 'aur kuch accha mil jayega' [you'll find something better].

 

But my ability to work and stay in the US depends on my H1-B visa. I moved
to the US in 2009 and I have worked very hard to build my career on my own
strength and intellect. I have worked in prominent companies like Tesla,
Intuit, etc., built great products, got top ratings, paid taxes, and
contributed to the US economy for more than 15 years, but I feel that I am
in the same place as far as permanent residency goes because of the
limitations of the H1-B. I was crowned Miss Bharat California [a beauty
pageant] by my idol, Bollywood actress Sushmita Sen. I have walked the ramp
at New York Fashion Week. I have my own podcast.

 

What is behind the big tech companies' job cuts?

Tech layoffs threaten American dream of India workers

We face unnecessary stress because the US has a country cap which takes
forever for Indian H1-B holders to get a green card (permanent residency).
Even though I am in the green card queue, when I track my status, I
sometimes get a wait-time of two decades, and at other times, 60 years.

 

Our personal life suffers because of the uncertainty. Buying a home has been
a question mark in my mind - do I invest in a home and then what if I have
to leave. In spite of having gone ahead with the YC [Y Combinator is an
American technology start-up accelerator], I can't start a company even
though I have a great idea because I don't have a green card.

 

I travelled to 30 countries before turning 30 years old, but now I'm unable
to travel much, even though it's my dream to travel the world, because I'm
nervous about facing problems while trying to get my H1-B visa re-stamped. I
have heard from my friends who work at great companies like Google and
PayPal about getting stuck abroad.

 

I have even curtailed my travels home to India. A few years back, I got
stuck in India. I had gone to attend a wedding and I had to get my H1-B visa
stamped. But that took several months as it went into random administrative
processing and I wasn't even sure when it would come through. The
uncertainty and the wait caused problems in my marriage. The visa issues had
a very big role in my marriage. It was not the only reason, but it became
one of the major reasons for the break-up of my marriage. I also had to drop
out of a semester at New York University, where I was studying at the time,
because I didn't know when I would be able to return to the US. Why do
people on H1-Bs have to deal with this?

 

I have not met my parents since the Covid-19 pandemic because they haven't
been able to come to visit me for three-and-a-half years. They are elderly,
and don't keep too well. I constantly think - if my parents need support,
will I be able to go to help them? Nobody realises how it impacts our life.

 

But despite whatever has happened, I believe this experience too has a
silver lining. Spirituality is a significant part of my life. I am a
believer and follower of Sadhguru ji [as followers refer to Indian yoga guru
Jaggi Vasudev]. He says that we should not be identified only by or limit
our identity to our professional role. In Silicon Valley, the most
frequently asked question is - Which company do you work for? But I am still
me, not just a product manager. Everyone should realise that they are more
than just the company they work for.-BBC

 

 

 

Fenwick to shut 130-year-old New Bond Street department store

Lazari Investment's director, David Silverman, said their plans for the site
include creating a "mixed use development"

Department store Fenwick has announced it will close its 130-year-old store
on New Bond Street in central London.

 

The store, along with the adjoining property, has been sold to Lazari
Investments and will shut in 2024.

 

In a statement, the company said it would sell the site to fund "significant
investment" in its online business and its other stores.

 

Simon Claver, Fenwick's chairman, said the sale had "been a difficult
decision for the Fenwick family".

 

The department store first opened in London's shopping district in 1891.

 

Following its sale Fenwick will be left with eight stores in the UK,
including its flagship in Newcastle, York, Brent Cross, Colchester and
Kingston.

 

'Fresh capital required'

In a statement, the company explained: "Amid the turbulent economic
environment, fresh capital investment is required in order to return the
business to profitable growth."

 

Mr Claver added the company's leadership team was "committed to providing
the business with the means to thrive for the long term".

 

Funds from the sale will go towards making major investments in stores
across the country, including at its Newcastle and Kingston branches, the
firm said.

 

Lazari Investment's director, David Silverman, said their plans for the
London site include creating a "mixed use development".-BBC

 

 

 

December strikes: Who is striking and what are their pay claims?

Strikes have disrupted everything from train services to postal deliveries
and teaching in schools.

 

More workers are expected to walk out, as demands grow for better working
conditions and pay increases to keep up with rising prices.

 

A graphic showing who is striking in the run-up to Christmas

Ambulance staff

 

10,000 ambulance workers - including paramedics, control room staff and
support workers - will strike across most of England and Wales on 21 and 28
December

The walkout by the three main ambulance unions - Unison, GMB and Unite -
will affect non-life threatening calls only. The military are on standby to
help out

All the unions have asked for above-inflation pay rises

The governments in England and Wales have given NHS staff an average rise of
4.75%, with a minimum £1,400 rise

 

Nurses

 

Nurses in England, Wales and Northern Ireland are set to strike on 15
December and 20 December

The Royal College of Nurses wants a rise of 5% above the Retail Price Index
(RPI) measure of inflation - currently 14%

The government in England says this year's pay award - a 4.75% average
increase - is in line with the independent NHS Pay Review Body
recommendation

 

Rail workers

 

Rail workers first called strike days in June, with further walkouts planned
across December and January

The National Union of Rail, Maritime and Transport Workers (RMT) wants a pay
offer reflecting the rising cost of living - and a guarantee of no
compulsory job losses

Rail-industry bosses say changes need to be agreed to afford pay increases
and modernise the railway

 

Royal Mail workers

 

Postal workers plan strikes on 9, 11, 14, 15, 23 and 24 December

Deliveries are affected, with the last days for Christmas post now 12
December for second class and 16 December for first class

Royal Mail has offered a pay deal it says is worth up to 9% over 18 months -
but with inflation at 11.1%, the Communication Workers Union wants more

The CWU also objects to proposed changes to working conditions, including
compulsory Sunday working

 

Teachers

 

Teachers in Scotland walked out on 24 November, with further strikes in
December, January and February

A 6.85% increase for the lowest paid was rejected, with teachers arguing for
10%

Teaching unions in England and Wales are balloting members over pay, which
could mean further strikes

 

 

University staff

 

Tens of thousands of staff at 150 UK universities walked out on three days
in November

The University and College Union wants a pay rise worth either 2% above RPI
inflation, or 12%, whichever is higher, pension benefits restored and
"excessive workloads" tackled

An increase in pay "puts jobs at risk", the Universities and College
Employers Association says

 

Baggage handlers

 

Ground-handling staff for Menzies Aviation at Heathrow Airport will strike
for 72 hours from 16 December

Airlines likely to be affected are Air Canada, American Airlines, Lufthansa,
Swiss Air, Air Portugal, Austrian Airlines, Qantas, Egypt Air, Aer Lingus
and Finnair

The Unite union says cargo workers were offered a backdated 9.5% pay
increase and a further 1% from January 2023, but baggage handlers have been
offered only a flat-rate increase and face a real-terms pay cut

 

Driving examiners

 

Driving examiners will hold rolling strikes from 13 December to 16 January

The Public and Commercial Services Union is calling for a 10% pay rise,
better pensions, job security and no cuts to redundancy terms

The government says the strike might affect driving tests but not theory
tests

 

Bus drivers

 

Bus drivers in south and west London will strike on 9, 10, 16 and 17
December

The Unite Union is calling for a pay rise to reflect higher cost of living

Transport for London (Tfl) has urged Unite and Abellio to work together to
avoid disruption for passengers

 

Who else is considering industrial action?

About 100,000 civil servants have voted to strike across different
government departments

Junior doctors in England, represented by the British Medical Association,
are planning to hold a ballot in January, over a pay deal which will give
them 2% this year

Three days of strikes, involving 2,000 Metroline bus drivers in London, have
been called off while a pay offer is considered

Which workers are allowed to go on strike?

 

What's the gap between public and private sector pay?

 

Have any disputes been resolved?

Some workers have settled disputes:

 

Criminal barristers in England and Wales accepted a 15% pay rise in October

Refuse workers in Eastbourne negotiated a deal worth over 11%

2,000 Arriva bus drivers in London won an 11% pay deal

Union bosses of BT workers agreed a pay deal worth up to 16% for some
workers

How many days have been lost to strikes?

In September, 205,000 working days were lost to strikes, according to the
Office for National Statistics.

 

Graph showing an increase number of strike days in since 2017

The latest monthly total remains significantly less than the 11,716,000 days
lost in September 1979 - the month in which strikes peaked during the
"winter of discontent".

 

Chart showing days lost to strikes between 1970 to September 2022. It shows
strike days peaking in 1979.

Does the public support strike action?

A poll at the end of October by Savanta ComRes found that 60% generally
support workers taking industrial action, with 33% opposed.

 

Asked about strikes over pay and conditions, support varied widely between
different industries.-BBC

 

 

 

Northampton sees one of UK's biggest shifts from retail to dining

Businesses in a soon-to-be-revamped town centre have said they are quickly
adapting to changing shopping habits.

 

Research has revealed central Northampton has seen a net loss of 26 shops,
but a net growth of 23 eating and drinking venues.

 

The Ordnance Survey statistics compared the first quarters of 2020 and 2022
in the NN1 postcode area.

 

It was believed to be one of the most significant shifts from retail to
restaurants in any UK postcode area.

 

Earlier this year, a report by Centre for Cities revealed 24.5% of the town
centre's units were empty after June 2021.

 

About £33m has been allocated for Northampton town centre's regeneration.

 

A committee of MPs previously encouraged local councils to attract shoppers
back to the High Street by offering "experiences".

 

Leslie Walker is the manager at Playhouse Northampton which offers customers
dancing and games based on racing and golf.

 

"Instead of being that big night out where people are just drinking, we've
seen families, groups, celebrations, team-building, date nights,
speed-dating and things like that, so we've opened it up as more of a usable
space for everybody," he said.

 

Josh Fitzgerald, director of Brother's Pub Co., is preparing to open a new
venue in Abington Street, offering entertainment and "social gaming".

 

"There is an opportunity here for turning town centres into more social
community hubs where people can get together, like they do in Spain, and
have alfresco dining," he said.

 

Northampton's town centre regeneration includes plans to revamp the market
by installing a new water feature, public seating and a reduction in
permanent market stalls.

Northampton's town centre regeneration includes plans to revamp the market
which includes installing a new water feature, public seating and having a
reduction in permanent market stalls.

 

British Home Stores, Marks & Spencer and House of Frasier are among the
well-known chain stores that have pulled out of Northampton town centre in
the last 10 years.

 

The media regulator Ofcom last year reported a 48% increase in online
shopping sales during the pandemic.

 

Mark Mullen, operations manager for Northampton's Business Improvement
District, which has the aim of attracting people to the town centre, said:
"Since the pandemic, businesses have proven they can adapt and evolve to
become experiential providers to complement their offer."

 

Kardi Somerfield, senior lecturer in advertising and digital marketing at
the University of Northampton, said the changing landscape of High Streets
could "revitalise independent hyper-local retail" in the long run.

 

"The more recreational and experiential types of shopping, which may include
eating, drinking, and health and beauty services, are more likely to stay
which seems to be borne out in the research," she said.-BBC

 

 

 

England’s World Cup run gives West's pubs 'big boost'

Football fans cheering on England at the World Cup have given the industry a
much-needed "boost".

 

Emma McClarkin, chief executive of the British Beer and Pub Association,
said the trade had endured a tough year and it was a welcome relief.

 

She said fans are thought to have drunk an extra five million pints during
Sunday's match alone.

 

"We really hope that supporters still keep coming out to support two great
institutions," she said.

 

"We really hope that England do well on Saturday [against France] because
when England do well, so do we."

 

The association estimates the World Cup hosted in Qatar could boost business
by up to 10%.

 

As well as seeing huge crowds for weekend fixtures, it said that England's
mid-week games had delivered more than expected in some cases.

 

England's first group game against Iran saw a 62% uplift in beer sales,
according to data consultancy CGA Insight, the equivalent of three million
more pints worth almost £12m.

 

Ronnie and Nathan Freeman are the co-owners of the Industry Sports Bar in
Gloucester Road.

 

Ronnie said there would be a maximum of five tables occupied in their pub
for any other game.

 

But during England's 3-0 victory over Senegal in the competition's last 16
on Sunday they were "packed to the rafters, turning people away in fact".

 

They are already fully-booked for Saturday's quarter-final clash with
France.

 

Ronnie added: "We've had phone call after phone call since the game finished
last night."

 

Nathan said it was "brilliant" after they were closed for long periods
during the pandemic.

 

"Now it's kind of 'make hay while the sun shines'," he added.

 

Ms McClarkin said with the competition taking place during the winter in
Qatar, alongside the Christmas rush, "we are hoping that we will see a boost
to our sales in this period of time".

 

"It is a critical time of year for our businesses, our pubs and brewers make
10% of their year's takings in that month.

 

"So we're really hopeful that we'll see a strong support of the Great
British pub this Christmas."

 

Brendan Murphy, the founder of Bristol Independent Bar Association, said the
money pubs take this month should "get them through January and February,
which is the quiet time for the industry".

 

-BBC

 

 

 

How lockdown changed Scotland's high streets

Scotland's high streets have more fast food outlets and beauty services but
fewer clothes shops, research shows.

 

New analysis by the BBC data team reveals the big changes to the retail and
hospitality sectors across the country since lockdown.

 

Scotland-wide, there are now 8% fewer clothes shops but 12% more fast food
outlets since 2020.

 

And in the city centre of Glasgow there are now more beauty service
providers than pubs.

 

The BBC Data team looked at every town and city across the UK to see how
they had changed since March, 2020.

 

After Covid lockdowns: How our High Streets changed

What emerged in Scotland was a picture of high streets transforming fast -
squeezed by the Covid lockdown and the rise in demand for internet shopping
and eating out.

 

To find out how the nearest High Streets and shopping areas near you have
changed since the beginning of the pandemic, type in your postcode below.

 

 

How have high streets changed in my area?

Enter a postcode eg G51 1DA

Type in 4 or more characters for results.

 

If you can't view the postcode lookup, click here. For further detail on the
Ordnance Survey data used in the postcode search above, please see full
methodology at the bottom of the page.

 

Traditional retail destinations have suffered the most. Edinburgh's Princes
Street lost 27% of its retailers since March 2020, while Clackmannanshire
has 9% fewer shops than it did two years ago.

 

Analysis of Ordnance Survey's Points of Interest mapping data revealed other
Scottish findings including:

 

A 7% rise in tattoo parlours

The loss of more than one in ten cashpoints

A 9% rise in hair and beauty salons, including a 23% hike in Falkirk alone

The number of fish and chip shops increasing by 6%

Eating and drinking

In positive news for the hospitality sector, Scotland has 936 more more
eating and drinking establishments than before the pandemic - the highest
increase in the UK - driven by more cafes and fast food outlets.

 

But the decline of some parts of this sector is illustrated in the G1 and G2
postcodes of central Glasgow.

 

Hair and beauty services are now the most common type of shop here -
overtaking pubs and bars which were the most prevalent in March 2020.

 

Map showing the location of hair and beauty services and pubs and bars in
central glasgow

Ewan MacDonald-Russell, deputy head of the Scottish Retail Consortium, said
the Covid lockdown accelerated many of the changes that were already being
seen on the high street before the pandemic.

 

He said: "The way that huge change happened, it meant we got about five or
six years of change in the space of five or six months.

 

"The consequence of that is a lot of retailers now operate from fewer shops
and where they have shops there is a distinct reason to go to them.

 

"We have to be careful about phrases like 'death of the high street' because
actually it is about the transformation of the high street, retail might not
be as big a footprint but hospitality and others will."

 

Like many places in Scotland, Stirling has seen an increased number of 'To
Let' signs since the Covid pandemic.

 

Retailers in the city say there is a vicious circle of fewer shops resulting
in fewer people on the streets.

 

Mary Morrow, owner of Blooming Wonderful florists, managed to keep her
business going by working from home during the pandemic. But she has not
seen the customers return to her shop in the same numbers since.

 

She said: "If you don't have anyone going past then you won't have anyone
coming in, the streets are so empty.

 

"This time of year a few years ago it would be buzzing. There would be
people in the shop, it would be busy, but there is just not the footfall
now.

 

"It is the price of the units, people can't afford the rent - reduce the
price of the units and get more people in."

 

The shifting sands of shopping

'More than 1,200' Scottish chain stores closed in 2020

Josine Atsma, owner of the Stirling Health Food Store, ramped up her online
presence during lockdown and says it can now account for 50% of her sales
some days.

 

She said: "It is the main reason why we are still here, I dare say.

 

"There are fewer people coming in and people are spending less.

 

"I try to be friendly and know my customers. Also, you don't need to only
buy from Amazon if you are buying online, independents are on there too."

 

The pandemic delivered a hammer blow to many high street stores. Some didn't
survive the experience. The lockdown prompted a stampede towards online
shopping and for many customers, they're found they like it.

 

There's no way back.

 

So retail chains have been forced to cut back on the number of stores they
own; it saves them money but leaves yawning gaps in high streets. And in
their place, what appears? Shops which sell a service - not a thing.

 

To state the obvious, you can't get a haircut, tattoo or a fish supper
online. The future of these new shops looks safe for now. But what a
difference we've seen, in just a couple of years.

 

Perhaps one lesson stands out from this research and that is high streets
can change very fast. And much needs to be done to nurture, support and
protect our town and city centres.

 

 

Methodology

The data is a combination of two datasets from Ordnance Survey (OS).

 

To report which businesses have opened and closed we have used the Points of
Interest dataset.

 

This is a comprehensive, location-based directory of all public and
privately-owned businesses, education and leisure services in England,
Scotland and Wales. Points of Interest contains over four million records
and is updated four times a year. The BBC has analysed data from a selected
number of categories within the Points of Interest database.

 

For the purpose of this research we have used one data release in March 2020
and one in March 2022, to give a snapshot of the points of interest across
Great Britain that were active at those times.

 

Glasgow

For the interactive postcode look-up, to report the number of businesses on
10 of the High Streets and shopping areas close to the postcode entered, we
have used the OS Retail Geographies dataset.

 

This is an experimental dataset from the Ordnance Survey describing the
geography of shopping across Great Britain. It clusters retail areas using
street names and includes local High Streets, retail parks and shopping
centres. Longer streets are divided into smaller sections where there is a
change of road name or retail addresses are more then 150m apart. The
resulting clusters must also meet the minimum threshold of 15 retail
addresses for highly populated urban areas and five retail addresses for
smaller rural areas.

 

To find the 10 nearest shopping areas to the postcode you have entered, we
have chosen the 10 where the middle of the box surrounding the area is
closest to the centre point of the postcode boundary as the crow flies.
There may be some streets that are very close to the postcode, but do not
quite fit this criteria; or there may be some which are very close as the
crow flies as we have defined it, but may not be the easiest to travel to.

 

Everywhere else that we have reported the number of businesses, we have
counted the number of points from the Points of Interest dataset that fall
within the relevant geographic area, regardless of whether they fall within
a street as defined by the Retail Geographies datas-BBC

 

 

 

Kenya: Covid-19 Spurs Growth of E-Commerce in Kenya, Study Reveals

Nairobi — The Covid-19 pandemic has unlocked the growth of e-commerce
opportunities, with millions of consumers preferring to shop online.

 

This is according to a recent global survey conducted by MARCO, a
Madrid-based communications agency.

 

Dubbed "MARCO Survey: Post-COVID-19 Consumption Behaviour II", the survey,
conducted from May to June, covers more countries and is a sequel to "MARCO
Research: Post Covid Consumer Behaviour" carried out in April to May 2022.

 

In Africa, the survey was conducted in Kenya, South Africa, Morocco, and
Ivory Coast.

 

 

Kenya is notably on the cusp of an e-commerce revolution, with 99 per cent
of the surveyed consumers in the country saying they preferred buying online
and would continue to do so post-Covid.

 

The survey also reveals that 58 per cent of Kenyan consumers started buying
more online when the pandemic struck, while 76 per cent of their British
counterparts did the same.

 

Clothing and fashion (56 per cent), show tickets (54 per cent), and travel
(52 per cent) are the leading products purchased online more than from
physical stores.

 

E-commerce, also known as electronic commerce, allows businesses and
consumers to make online purchases.

 

Founder and CEO of MARCO, Didier Lagae said businesses and consumers find
e-commerce to be more efficient than brick-and-mortar stores.

 

"Businesses save on costs, and customers can select from a wide variety of
product choices and shop from anywhere in the world, at any time of day,"
said Lagae, adding that "The Covid-19 pandemic has ushered in the growing
use of e-commerce services by small firms to sell their products, and this
may become central to the growth-led prospects of Africa".

 

 

Besides, the CEO noted that helping the firms gain access to a larger
market, e-commerce platforms also helped build consumer trust and ultimately
create branding through customer ratings of sellers and strategies such as
liberal product return policies.

 

According to the survey, television and digital media are the most effective
means of influencing consumers.

 

TV advertising takes the lead with 64 per cent and both online advertising
and online articles with 51 per cent being the channels that have the
greatest influence on Kenyans when it comes to choosing one brand over
another.

 

This, the survey shows contrasts sharply with consumers in the United
Kingdom, where only 38 per cent and 33 per cent of respondents were
influenced by TV and online advertising respectively when choosing one brand
over another.

 

 

The survey also reveals that at 37 per cent, adverts on public transport and
recommendations from influencers are the channels that connect the least
with the average Kenyan consumer.

 

Even so, recommendations from influencers are a great determinant in the
preference of one brand over another, with 84 per cent of Kenyans having
bought something based on the recommendation of an influencer.

 

This is not the case in the UK, where only 41 per cent of respondents bought
a product following the recommendation of an influencer.

 

A curious finding was that even with the increase in cybercrime, people do
not mind sharing their personal data in exchange for some goodies.

 

According to the survey, 68 per cent and 64 per cent of British and Kenyan
consumers respectively were willing to share their personal data in return
for something for free.

 

It is also noteworthy that the pandemic has not changed the taste and demand
of Kenyans when it comes to the purchase of second-hand products, with 50
per cent of the respondents reporting buying more second-hand products than
before the pandemic.

 

Linda Weaver, Chief Operations Officer ACG MARCO, said: "Going forward
post-pandemic, the change in customer and merchant behaviour during the
pandemic is likely to stay, with an increasing number of people adopting
e-commerce and becoming more aware of brands as we approach the Christmas
festivities."

 

More businesses have decided to open up online shops, and it is expected
that e-commerce in Kenya will further accelerate and grow.

 

According to Statista, a German company specialising in market and consumer
data, Kenya has one of the most vibrant e-commerce ecosystems in Africa and
has shown steady growth.

 

Revenue in the Kenyan e-commerce market is expected to result in an
approximated market volume of USD 2 billion by 2024.

 

Online sales allow businesses to reach more customers, both at home and
abroad. New jobs are also created in supporting sectors such as technology
companies, payment service providers such as Visa, and logistics companies.

 

The convenience of 24-hour online shopping and home delivery, combined with
much greater product choice, is likely to become increasingly valuable to
customers everywhere.

 

-Capital FM

 

 

 

South Africa: Diesel Prices Decrease, Increase for Petrol Consumers

There will be relief for some consumers from tomorrow when the price of all
grades of diesel and illuminating paraffin decrease.

 

Petrol and LP Gas consumers, however, will have to dig deeper into their
pockets as prices of the two are expected to increase.

 

The new prices, as announced by the Department of Mineral Resources and
Energy (DMRE), are as follows:

 

All grades of petrol will increase by at least 59c

 

Diesel 0.05% sulphur will decrease by some R1.57

 

Diesel 0.005% will decrease by R1.52

 

Wholesale illuminating paraffin decreases by 57c

 

 

The Single Maximum National Retail Price for illuminating paraffin will go
down by 57c

 

Maximum LP Gas Retail Price will increase by 95c

 

The department explained the factors behind the increase in petrol prices.

 

"Petrol prices increased due to higher demand by motorists travelling for
the thanksgiving season in the US amid limited supply emanating from the
Russia Ukraine conflict. Increased demand resulted in a decrease of gasoline
inventories and higher prices.

 

"Refiners are producing more middle distillates, such as diesel,
illuminating paraffin and gas to meet extra winter demand in the Northern
Hemisphere and consequently producing less petrol.

 

"These factors led to higher contributions to the Basic Fuel Price of petrol
by 64.87 cents per litre and lower contributions to diesel and illuminating
paraffin by 122.47 c/l and 9.09 c/l, respectively," the department said.

 

Higher gas prices has been driven by the increase in propane and butane
prices.

 

-SAnews.gov.za.

 

 

 

South Africa: Square Kilometre Array Observatory Construction Begins in
Northern Cape

Higher Education, Science and Innovation Minister, Blade Nzimande, unveiled
on Monday the kick-start of the on-site construction of the Square Kilometre
Array Observatory (SKAO) telescopes infrastructure in Carnarvon, Northern
Cape.

 

Radio astronomy, according to Nzimande, has begun to revolutionise our
understanding of the universe.

 

The Higher Education, Science and Innovation Minister described the
development of the SKAO as a major innovation that will provide scientists
with data to push the explanatory frontiers of modern cosmology.

 

"I cannot help but be intrigued by the idea that significant discoveries on
cosmological origins may well be made on African soil through the work of
the SKA - the very place where we know through science the origin of all
humanity is found," Nzimande said.

 

The Minister was speaking at the onsite commencement of the construction
ceremony of the world's largest radio astronomy infrastructure and
telescopes in South Africa and Australia.

 

 

The ceremony marks a significant milestone, with the project being 30 years
in the making, including several years of detailed design and engineering
work.

 

"SKA is pioneering, and in some ways unique international scientific project
which demonstrates the power of multilateral collaboration in science to
help us tackle the big challenges of humanity," he told delegates.

 

"We owe a great deal to people who have worked incredibly hard to make this
day possible, and it would not do justice to mention all."

 

Nzimande paid homage to the SKAO leadership, governments of all the SKA
international partners and the managerial, scientific and technical staff
both in South Africa, the United Kingdom, Australia and other parts of the
world who are working on this groundbreaking project.

 

He also mentioned China, which is a crucial partnership with the SKA as the
manufacturer of the telescope dishes for the mid-frequency array.

 

 

Return on investment

 

He welcomed the SKA-mid infrastructure contract awarded to a South African
company as part of the construction of the mid-frequency components of the
SKA telescope in the Karoo.

 

Power Adenco Joint Venture was named a successful bidder for the tender to
build the major civil infrastructure, which includes the rollout of power,
fibre and roads - the biggest contract awarded by SKAO to a South
African-based company, amounting to close to R890 million.

 

A total estimated value of contracts worth R1.2 billion has now been awarded
to South African entities, with further contracts expected.

 

In addition, he said, the leasing of buildings to be constructed, and SKAO's
ongoing technical maintenance and operations for the next 50 years will
deliver long-term, sustainable foreign investment to South Africa with about
11 200 construction job opportunities in the next six years of construction.

 

Skills development

 

Meanwhile, he said the South African Radio Astronomy Observatory (SARAO)
will continue to invest about R80 million per year through bursary
programmes to develop the requisite skills in South Africa and the African
partner countries.

 

He announced that the SARAO would fund about 100 bursary recipients per year
and the skills that will be targeted include artisans, technicians,
astronomers, engineers and data professionals.

 

MeerKAT telescope

 

Over the past five years, Nzimande said, South Africa's investment in the
development of astronomy, specifically the MeerKAT radio telescope, has
realised socio-economic spin-offs.

 

This includes the installation of 110 km of overhead power lines, the
resurfacing of 80 km of road and the construction of complex foundations for
the 64 dishes, which created more than 8 700 direct and indirect jobs for
the local communities surrounding the SKA site.

 

The MeerKAT radio telescope is a precursor to the SKA telescope and will be
integrated into the mid-frequency component of SKA's phase one.

 

The telescope was completed in 2018 for R3.2 billion with 75% local content,
which boosted the local industry in terms of manufacturing various
components for the telescope.

 

The Minister said 1 400 grants and scholarships have been awarded in the
field of science and engineering.

 

In addition, about 400 technicians have been trained in trades related to
the work being done on the telescope.

 

More than R130 million was spent on local businesses during the construction
phase of the MeerKAT.

 

-SAnews.gov.za.

 

 

 

South Africa: New Full-Time Lotteries Boss to Be Appointed Early Next Year

GroundUp has learned that Jodi Scholtz will take over as Commissioner of the
National Lotteries Commission

 

GroundUp has learnt that Jodi Scholtz will take over as Commissioner of the
National Lotteries Commission early next year.

Her current title is chief operating officer of the Department of Trade,
Industry and Commerce.

She has been lead administrator since February 2020 of the South African
Bureau of Standards after it was placed under administration.

Chief operating officer Jodi Scholtz of the Department of Trade, Industry
and Commerce (DTIC) will take over as Commissioner of the National Lotteries
Commission early next year. Her appointment is yet to be officially
announced, but GroundUp has confirmed it with three different sources with
knowledge of the appointment.

 

 

Scholz was deployed to the South African Bureau of Standards (SABS) as
co-administrator in 2018, after it was placed under administration. She was
promoted to lead administrator in 2020 but has retained her DTIC COO title
throughout her deployment.

 

Lionel October, a former DTIC director-general, ended a three-month contract
as acting commissioner at the end of last month. Mary-Anne Nkuna Tintswalo,
NLC executive manager for regulatory compliance, will act as Commissioner
until Scholtz takes over.

 

Scholtz takes over as NLC Commissioner at a time when the NLC is facing a
credibility crisis and is under investigation by the Hawks and the Special
Investigating Unit (SIU), which recently told Parliament it is probing dodgy
Lottery grants worth over R14-billion.

 

 

The entire NLC board has been replaced and the former Commissioner, Thabang
Mampane, resigned with immediate effect in August, just weeks before her
term ended. Her resignation came shortly after GroundUp revealed that money
from a grant to build a school in Limpopo had been used to buy a home for
her in a luxury North West golf estate.

 

Former NLC COO Phillemon Letwaba resigned with immediate effect just over a
week after Mampane quit, and shortly before he was due to appear before a
disciplinary hearing to answer charges of abusing his position to enrich
himself and his family.

 

Several senior staff members have also been suspended and will face
disciplinary hearings early in 2023.

 

Scholtz, who has worked for DTIC since 2002, is well-qualified for the task
of repairing the damage caused to the NLC by years of rampant corruption.

 

SABS was placed into administration in July 2018 by then-minister Rob Davies
after he lost confidence in its directors. Davies axed the entire board for
"underperformance", saying they had "failed effectively to exercise the
fiduciary duties imposed upon them". Local industry had also suffered
because of poor performance by SABS, Davies said in a statement at the time.

 

In a CV published on LinkedIn, Scholtz said that since her appointment as
SABS Lead Administrator in February 2020, she had taken over the leadership
and operations of SABS as the accounting authority.

 

She says in the CV that she also developed and is "currently implementing" a
revised turnaround strategy for SABS, focused on cost reduction and revenue
generation to ensure financial sustainability, with a new operating model
and organisational structure.

 

"I am a motivated, resourceful, and results-driven ... with a proven
strategic ability to efficiently prioritise and manage multiple projects and
lead C-level executives in fast-paced, high-pressure environments.

 

"I have proven myself able to behave in a courteous, professional manner
while proactively aiding my co-workers and seniors."

 

-GroundUp.

 

 

 

South Africa: GDP Rises By 1.6 Percent

South Africa's gross domestic product (GDP) increased by 1.6% between July
and September, Deputy Director General for Economic Statistics, Joe de Beer,
announced on Tuesday.

 

The main attributors, Statistics South Africa (Stats SA) said, were the
agriculture, forestry and fishing industries, which increased by 19.2% in
the third quarter, contributing 0.5 of a percentage point to GDP growth.

 

During this period, said Stats SA, increased economic activities were
reported for field crops and horticulture products.

 

"Finance, real estate and business services increased at a rate of 1.9% in
the third quarter, contributing 0.5 of a percentage point to GDP growth.
Increased economic activity was reported for financial intermediation,
insurance and pension funding, auxiliary activities, real estate activities
and other business services.

 

 

"The transport, storage and communication industry increased by 3.7%,
contributing 0.3 of a percentage point. Increased economic activities were
reported for land transport, transport support services and communication
services," said de Beer.

 

Stats SA said the manufacturing industry during this period increased by
1.5%, contributing 0.2 of a percentage point to GDP growth.

 

"Seven of the 10 manufacturing divisions reported positive growth rates in
the third quarter. The motor vehicles, parts and accessories and other
transport equipment division made the largest contribution to the increase
in the third quarter.

 

"The food and beverages division and the basic iron and steel, non-ferrous
metal products, metal products and machinery division also made significant
contributions to growth.

 

 

"The unadjusted real GDP at market prices for the first nine months of 2022
increased by 2.3% compared with the first nine months of 2021," Stats SA
said in a statement.

 

Expenditure on GDP

 

Expenditure on real gross domestic product increased by 1.6% in the third
quarter of 2022, the agency said.

 

Household final consumption expenditure decreased by 0.3% in the third
quarter, contributing -0.2 of a percentage point to total growth. The
largest contribution to negative growth was non-durable goods.

 

Stats SA said the main contributors to the decline in household final
consumption expenditure (HFCE) were expenditures in the 'other' category
(-3.8%, contributing -0.5 of a percentage point), food and non-alcoholic
beverages (-0.9%, contributing -0.1 of a percentage point) and recreation
and culture (-1.6%, contributing -0.1 of a percentage point).

 

Expenditure on restaurants, transport and housing contributed positively to
growth in HFCE in the third quarter.

 

Final consumption expenditure by general government increased by 0.5% in the
third quarter, mainly driven by increases in goods and services.

 

Total gross fixed capital formation increased by 0.3%. The main contributors
to the increase were residential buildings (11.0%, contributing 1.4
percentage points) and transport equipment (11.0%, contributing 1.1
percentage points).

 

"There was a R63 billion build-up of inventories in the third quarter of
2022 (seasonally adjusted and annualised value). Large increases in three
industries contributed to the inventory build-up, namely trade, catering and
accommodation; transport, storage and communication; and mining and
quarrying.

 

"Net exports contributed positively to growth in expenditure on GDP in the
third quarter. Exports of goods and services increased by 4.2%, largely
influenced by increased trade in mineral products; base metals and articles
of base metals; vegetable products; and paper products," Stats SA said.

 

Imports of goods and services increased by 0.6%, driven largely by increases
in mineral products and animal and vegetable fats and oils.

 

-SAnews.gov.za.

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2022

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

National Unity Day

 

December 22

 


 

Christmas Day

 

December 25

 


 

Boxing Day

 

December 26

 


Companies under Cautionary

 

 

 


CBZH

Meikles

Fidelity

 


TSL

FMHL

Turnall

 


GBH

ZBFH

GetBucks

 


Zeco

Lafarge

Zimre

 


 

 

 

 


 <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) 2022 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
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