Major International Business Headlines Brief::: 22 November 2022

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Major International Business Headlines Brief::: 22 November 2022 

 


 

 


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ü  Disney: Bob Iger begins major shake-up after returning to firm

ü  Are flying taxis getting closer to lift-off?

ü  Rwanda's electric vehicle push has a faltering start

ü  FTX: Tougher crypto rules needed after collapse, says Bank of England

ü  US tech layoffs: India workers face painful exit from the US

ü  WhatsApp groups help get food to those who need it

ü  Small firms have a big role fighting climate change

ü  Simpson's Tavern: Historical London chophouse fights for its future

ü  Cost of living: Energy suppliers failing vulnerable customers - Ofgem

ü  Nottingham Castle Christmas traders lose thousands due to closure

ü  South Africa: Nxesi Sets Record Straight On Wage Offer

ü  South Africa: Matrics, Commuters Hit By Cape Town Taxi Strike

ü  South Africa: Gordhan Meets Eskom Board

ü  Nigeria: Operators Fume Over Federal Govt's Proposed 20 Percent Tax On
Non-Alcoholic Beverages

ü  Tanzania: Fall of Employment in Tanzania Agriculture Sector, a Good Sign?

 


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Disney: Bob Iger begins major shake-up after returning to firm

Less than 24 hours after his shock return as Disney's chief executive, Bob
Iger says he is planning a major shake-up of the business.

 

One of his first moves has resulted in the exit of the head of company's
Media and Entertainment Distribution division, Kareem Daniel.

 

Mr Daniel was a close ally of the media giant's former boss Bob Chapek.

 

On Sunday, Disney announced Mr Iger's return as chief executive less than a
year after he retired from the firm.

 

In a message to employees, seen by the BBC, Mr Iger said "It is my intention
to restructure things in a way that honours and respects creativity as the
heart and soul of who we are."

 

"I fundamentally believe storytelling is what fuels this company, and it
belongs at the centre of how we organise our business," he said in the
email.

 

He said he had tasked a group of executives with designing "a new structure
that puts more decision-making back in the hands of our creative teams and
rationalises costs".

 

Ex-Disney boss Iger in shock return to media giant

Why Bob Iger's Disney departure is a big deal

The move marks a speedy undoing of a major initiative put in place by former
chief executive Bob Chapek.

 

During his first year as chief executive Mr Chapek formed Disney's Media and
Entertainment Distribution division.

 

It brought together the company's film and television sales and distribution
operations, with Mr Daniel in charge of it.

 

Mr Iger, who headed Disney for 15 years, was brought back by the company's
board to steer it through turbulent times as its share price has plummeted
and Disney+ continues to run at a loss.

 

However, after leaving Disney he told the New York Times in January it was
"ridiculous" to suggest he might return one day.

 

"I was CEO for a long time," he said. "You can't go home again. I'm gone,"
he told the newspaper.

 

Mr Iger, who was chairman until 2021, has now agreed to stay in the role as
Disney's chief executive for two years, during which time he aims to find a
successor to lead the company.

 

"I am extremely optimistic for the future of this great company and thrilled
to be asked by the Board to return as its CEO," Mr Iger said.

 

During his decade and a half in charge, as well as overseeing the launch of
Disney's streaming service, Disney+, Mr Iger drove major acquisitions
involving the likes of animation studio Pixar, comic book company Marvel,
Rupert Murdoch's 21st Century Fox, and Lucasfilm, the home of Star Wars.

 

Disney's shares in New York gained more than 6% after Mr Iger's return as
chief executive was announced.-BBC

 

 

 

Penguin scraps $2.2bn deal to buy rival publisher

Publishing giant Penguin Random House has scrapped a $2.2bn (£1.9bn) planned
takeover of rival Simon & Schuster.

 

Last month, a US court blocked the deal, saying it could "substantially"
weaken competition in the industry.

 

Penguin's parent company Bertelsmann said Paramount Global, the owner of
Simon & Schuster, decided not to appeal the ruling.

 

The proposed deal would have cemented Penguin Random House's position as the
world's largest book publisher.

 

"We believe the judge's ruling is wrong" the company said in a statement.

 

"However, we have to accept Paramount's decision not to move forward," it
added.

 

On 31 October, Judge Florence Pan ruled that the US Justice Department had
shown the deal could substantially lessen competition "in the market for the
US publishing rights to anticipated top-selling books".

 

During a trial in August, the US government argued that Penguin and Simon &
Schuster combined would control nearly half the market for publishing rights
of blockbuster books.

 

Initially, Penguin said it planned to appeal the ruling, calling it "an
unfortunate setback for readers and authors".

 

Daniel Petrocelli, who represented Penguin, said the two publishing houses
would deliver "enormous benefits" to readers and authors as they would
continue to compete against each other even after merging.

 

However, best-selling horror writer Stephen King dismissed the claim.

 

"You might as well say you're going to have a husband and wife bidding
against each other for the same house. It's kind of ridiculous," he told the
court.

 

Penguin Random House is obligated to pay a $200m termination fee to
Paramount.

 

"Simon & Schuster remains a non-core asset to Paramount," according to a
public statement public. "However, it is not video-based and therefore does
not fit strategically within Paramount's broader portfolio."

 

Penguin Random House was formed through the merger of two major publishers
from the UK and the US in 2013.-BBC

 

 

 

Are flying taxis getting closer to lift-off?

Flying taxis appear to be a bit closer to getting off the ground.

 

US air regulators on Monday published rules to formally add the machines,
which mix characteristics of helicopters and planes, to the list of
regulated aircraft.

 

The update is necessary before firms can offer flights to customers.

 

The move comes as companies have ramped up investments in the new
technology, which has been presented as the transport of the future.

 

Money has been pouring into the sector, as major airlines place orders and
investors bet on a crop of start-ups.

 

The new aircraft, also known as electric vertical takeoff and landing
(eVTOL) aircraft, can take flight and land without needing a runway, while
also travelling long distances like an aeroplane. They also use electric
motors, reducing noise and pollution compared to standard planes.

 

It has been argued they could help reduce traffic congestion in crowded
cities, without being too expensive for customers. They have also been seen
as an alternative for transporting cargo.

 

In Europe, the industry is hoping to get flying taxis off the ground in time
for the 2024 Olympics in Paris.

 

You may be able to book a flying taxi within three years

Flying taxis hub opens for demonstrations

The Federal Aviation Administration (FAA), which has faced industry pressure
to clarify the rules for their flight, said on Monday it was proposing to
expand its definition of the machines it considered air carriers from
airplanes and helicopters, adding "powered lift" to the list.

 

The agency called its move "an important step toward making commercial air
taxi operations a reality". The rules now face a period of public comment
before they can go into effect.

 

"This powered-lift definitions rule lays the foundation that will allow
operators to use powered-lift aircraft," it said. "This is important because
our regulations have to cover powered-lift aircraft for them to be able to
operate, including commercially."

 

The agency also said it expected to publish proposed rules for operating
such aircraft in summer 2023. Those rules will outline in more detail the
criteria that firms will need to meet to licence pilots and launch their
operations.

 

'Positive progress'

Walter Desrosier, vice president of engineering and maintenance for the
General Aviation Manufacturers Association, called Monday's move an
"absolutely essential first step" that signals that the FAA is committed to
making progress on the topic.

 

"This is very very positive progress, but the details are still to come," he
said.

 

Most analysts in the US do not expect flying taxis to officially lift off
until 2024 or 2025 at the earliest, due in part to ongoing debate about how
to regulate the new machines, which will run into local regulatory issues as
well as ones at a national level.

 

Despite the uncertain timeline, United Airlines and Delta are among the
major companies that have committed millions of dollars to the idea in
recent months. Globally, hundreds of firms are racing for a piece of the
action.

 

Robin Riedel, a partner at McKinsey and co-leader of the firm's Center for
Future Mobility, said many of those companies are likely to fail, pointing
to the technical challenge they face, as well as the task of winning public
confidence and reducing costs enough to make flying taxis more widely
affordable.

 

He expects such travel to remain limited to select cities and routes until
after 2030, used primarily by ultra-wealthy or business passengers.

 

"Nobody wants to build another toy for the rich - there's a very limited
market for that," he said. But, he added, "as a society and as an industry
we have to be realistic."

 

But he said the fact that the FAA is working to include the new aircraft in
their regulatory framework may be a sign of a rich future ahead. Regulation
of drones, by contrast, has typically happened as companies secure one-off
exemptions to existing rules, he said.

 

"The fact that the FAA is going through the trouble of making this
regulation is a very encouraging sign that not only is this industry coming
but it's big enough and stable enough to justify this kind of rule-making,"
he said.-BBC

 

 

 

 

Rwanda's electric vehicle push has a faltering start

Known as the land of a thousand hills, Rwanda might not be the obvious place
to launch electric vehicles.

 

The rugged, rural terrain would be tough on any car, but particularly models
that have to lug around heavy batteries.

 

But Rwanda's president Paul Kagame wants to transform the economy of the
tiny, landlocked country.

 

A key part of the plan is to cut greenhouse gas emissions and reduce the
nation's dependence on imported fossil fuels, which account for 40% of the
country's foreign exchange expenditure.

 

So, the government has launched a range of incentives to encourage electric
vehicles.

 

Electric cars, their spare parts, batteries and charging station equipment
have been exempted from VAT, import and excise duties.

 

Meanwhile, electric vehicles can be charged at a heavily subsidised
electricity tariff. The government also offers rent-free land for charging
bays.

 

First proposed in around 2019, but held-up by the Covid pandemic, the
incentives came into effect in April 2021.

 

Germany's Volkswagen was one of the first beneficiaries of the government
strategy. It launched the e-Golf model in Rwanda in 2019. The pilot project
started with four of the cars and two charging stations in Kigali.

 

VW's original plan was to expand the service to 50 cars and 15 charging
stations, as part of its cab-hailing app called Move.

 

However, three years later, only 20 of the cars are on the road and they
have been removed from the ride-hailing service. Instead they ferry
customers from several high-end hotels, the international airport and the
Kigali Convention Centre.

 

"The unevenness in road infrastructure and the height of speed-bumps turned
out to be too challenging for the e-Golf, which has a relatively low ground
clearance," says Allan Kweli, head of operations at Volkswagen Mobility
Solutions Rwanda.

 

There was particular concern about damaging the underside of the car, where
the batteries are located.

 

Despite that misfire, VW remains optimistic about Rwanda. It is planning to
import its ID.4 electric car, which has a higher ground clearance.

 

"The beauty of Rwanda is that the government has created a test scenario
whereby you can prove your work in an African setup," Mr Kweli says.

 

One glaring problem facing the carmakers is the lack of any charging
facilities outside of Kigali.

 

In a developing country like Rwanda, it's tough to justify large investments
in a nationwide charging infrastructure.

 

Nevertheless, in partnership with the government and energy companies,
Rwanda's EvPlugin charging network is planning to build 200 public chargers
across the country over the next two years.

 

Of those facilities, 35 will be suitable for cars while the others will
serve electric motorbikes.

 

Japan's Mitsubishi is dodging the problem by launching a petrol-electric
hybrid car in Rwanda.

 

It has 135 of its Outlander cars on the roads of Kigali - 90 of which are
leased, while the others are driven through a rental service.

 

"A hybrid vehicle eliminates the range anxiety as it can switch to gasoline,
which is relevant as we are still far behind with charging infrastructure in
Rwanda," says Joshua Nshuti, from Greenleaf Motors, Mitsubishi's official
dealer in Rwanda.

 

He says demand has picked up recently.

 

"As fuel prices have increased by 60% in the last few months, we see a
growing demand for the Outlander, as it gives clients the opportunity to
half their fuel costs," he says.

 

Critics question the positive environmental impact of the Outlander as, in
hilly Kigali, it can only manage about 50km to 70km (30 to 44 miles) on
battery power alone.

 

That's not a problem for Paul Frobisher Mugambwa, who works for an
international accountancy firm in Kigali. His leased Outlander runs mainly
on battery power, for his short 7km commute between his home and the office.

 

He says petrol used to cost him $150 (£128) a month, but reckons charging
his Outlander costs $40 a month.

 

Ideally, he would like to switch to an all-electric car, but worries about
the lack of mechanics in Rwanda who would be able to service and mend such a
car.

 

"If you buy an imported Chinese electric SUV, who is going to fix your car
when it breaks down," Mr Mugambwa wonders.

 

Perhaps the biggest obstacle to developing an electric car market in Rwanda
is the expense.

 

Although Rwanda has made economic progress over the last decade, about half
the population still meets the UN's definition of poverty - living on less
than $2.15 a day.

 

While that makes owning an electric vehicle impossible, catching a ride on
an electric motorbike is within the realms of possibility.

 

The company Ampersand has already managed to sell more than 700 e-motorbikes
in Rwanda, where motor taxis are a very important mode of transport.

 

These so-called e-motos, with a battery swap system, are extremely popular,
partly because they cost less to acquire and operate than a traditional
motorbike.

 

Despite the challenges, many believe that Rwanda should push on with its
electrification plans.

 

Michelle DeFreese, is a senior officer at Global Green Growth Institute,
which assists the Rwandan government with training and advice regarding a
plan for electric public buses.

 

She believes that Rwanda, which already produces 53% of its electricity from
renewable sources, is in a good position to make the transition.

 

"The combination of transitioning to electric vehicles while investing
heavily in renewable and clean energy resources is a powerful combination
when it comes to reducing emissions," she says.-BBC

 

 

 

 

FTX: Tougher crypto rules needed after collapse, says Bank of England

Better regulations are needed to protect the financial system after the
collapse of the FTX cryptocurrency exchange, a senior Bank of England
official has said.

 

Digital currencies are still too small to pose a threat but that will soon
change, said Sir Jon Cunliffe.

 

FTX filed for bankruptcy last week and owes its largest creditors almost
$3.1bn (£2.6bn).

 

Thousands of its users are also waiting to get their money back.

 

Sir Jon, who is deputy governor for financial stability at the Bank, also
said the recent volatility in the value of cryptocurrencies posed a threat.

 

The value of Bitcoin, the world's largest digital currency, has dived by
almost 70% in the last year.

 

He said the crypto world was, at present, not "large enough or
interconnected enough with mainstream finance to threaten the stability of
the financial system".

 

But he said its links with mainstream finance were developing rapidly.

 

The fall of ‘King of Crypto’ Sam Bankman-Fried

"We should not wait until it is large and connected to develop the
regulatory frameworks necessary to prevent a crypto shock that could have a
much greater destabilising impact.

 

"The experience in other areas of digitalisation has demonstrated the
difficulty of retrofitting regulation on new technologies and new business
models after they have reached systemic scale," he told an audience at a
Warwick Business School event.

 

It comes as the UK is set to approve laws in the Financial Services and
Markets Bill, which is currently in Parliament. The bill will introduce
regulation for stable coins - a crypto asset backed by an asset such as a
currency - and the marketing of crypto assets.

 

line

Analysis box by Joe Tidy, Cyber reporter

Before FTX collapsed, its then-CEO Sam Bankman-Fried took every chance he
could to describe his firm as "the most regulated" in the industry.

 

It's true that FTX had collected dozens of permissions to operate in many
countries and to offer many different crypto services.

 

But clearly, in the end, those certificates were useless at protecting
customers and investors.

 

Every time there is a major crisis in crypto the cries for regulation grow,
but it's the type of regulation that matters.

 

The chief concerns for authorities seem to be about protecting customers
from crypto firms going bust and ensuring that they don't run off with
people's money.

 

But as ever with cryptocurrency there is a tension between safety and
freedom.

 

Regulating crypto firms to ensure they are safe and responsible entities
would bring them a step closer to the traditional financial system - a huge
no-no for crypto believers.

 

But whatever the true believers want, the FTX chaos may well be the point of
no return.

 

line

In his speech, Sir Jon noted that the UK's financial regulator, the
Financial Conduct Authority, had been warning for several weeks before FTX's
collapse that "this firm may be providing financial services or products in
the UK without our authorisation
 you are unlikely to get your money back if
things go wrong".

 

FTX did not have a licence to operate in the UK, but its implosion has
caused shockwaves around the world.

 

The company's filings have revealed that more than one million people and
businesses could be owed money following its collapse.

 

On Saturday, FTX said it had launched a review of its global assets and was
preparing for the sale or reorganisation of some businesses.

 

'Complete failure'

Last week, new FTX chief executive John Ray hit out at the way the failed
crypto exchange was run, saying he had never "seen such a complete failure
of corporate controls".

 

Mr Ray, who replaced the company's founder Sam Bankman-Fried, criticised
what he called a "complete absence of trustworthy financial information".

 

Mr Bankman-Fried was one of the crypto world's most high-profile
personalities, with the 30-year-old becoming a billionaire in 2021.

 

His FTX crypto exchange grew to be the second largest in the world, with
$10bn-$15bn traded a day.

 

It spent millions on advertising, including during the Superbowl, and last
year it acquired the naming rights for the Miami Heat NBA team's arena.

 

Mr Bankman-Fried also projected an unconventional approach to business,
tweeting pictures of himself sleeping on a beanbag next to his desk in the
office.

 

Digital pound

Despite the ructions in the crypto world caused by FTX's collapse, Sir Jon
said the need for a UK digital currency was still being considered by the
Bank of England.

 

He said the work on a digital pound was driven by "the reducing role of
cash, and more generally in the increasing digitalisation of daily life".

 

Sir Jon said the Bank planned to issue a consultative report around the end
of the year setting out the possible next steps.

 

-BBC

 

 

 

US tech layoffs: India workers face painful exit from the US

Layoffs across the tech industry, including at firms like Twitter, Meta and
Amazon, have affected a significant number of Indians working in the US who
are on visas like the H-1B. California-based journalist Savita Patel speaks
to workers who are facing the prospect of being forced to return to India if
they don't find another job.

 

Surbhi Gupta, an Indian engineer working in the US since 2009, was surprised
that she was laid off by Meta this month. "I was performing well at work,"
she says.

 

On 9 November, Meta, which owns Facebook, Instagram and WhatsApp, announced
it would cut 13% of its workforce - the first mass lay-offs in the firm's
history which resulted in 11,000 employees losing their jobs.

 

"None of us slept that night," Ms Gupta says. "At 6am, I got the email. I
couldn't access my computer, nor the office gym. It felt like a break-up."

 

Ms Gupta is likely to be a familiar face for Indians. Winner of the 2018
Miss Bharat-California contest, she was featured most recently in the
Netflix show Indian Matchmaking.

 

Now she is among thousands of educated and skilled immigrant workers fired
by US tech companies this month.

 

Most of them work in the US because of the HI-B visa. It's a non-immigrant
visa that allows firms to employ foreigners for up to six years in positions
for which they have been unable to find American employees.

 

It also allows holders to apply for permanent residency in the US and buy
property in the country.

 

Ms Gupta says she worked very hard to build a life in the US for "over 15
years".

 

Her visa now hinges on finding her next job.

 

Worldwide, more than 120,000 tech workers have lost jobs as a result of
cutbacks by US tech companies, according to the Layoffs.fyi website, which
tracks tech job cuts.

 

While companies have not released India-specific numbers, San Jose-based
immigration attorney Swati Khandelwal says "it's hurt the Indian community
particularly hard."

 

"We saw an uptick in calls for consultation," she says. "Everybody is
anxious, even those who have not been laid off fear that they might be
[fired] later."

 

For Indian tech workers, the layoffs do not just mean seeking new employment
but also finding employers who are willing help them continue with their
work and pay for the associated legal costs.

 

"If a new employer is unable to transfer your visa petition in 60 days, the
remedy is for people to leave [the US] and re-enter for work after the
paperwork is complete," Ms Khandelwal says.

 

"But the practical aspect is that people will get stuck in India as there
are not many visa stamping appointments available in consulates," she says.

 

Wait times for a visa appointment at US consulates in India have reached 800
days in some cases.

 

This is why the layoffs have come as an unwelcome surprise for Indian
workers.

 

Sowmya Iyer, a lead product designer at the ride-sharing app Lyft, says she
was part of a team that "had internally taken steps to maintain the fiscal
health of the company".

 

But Ms Iyer found herself among hundreds who were laid off at the company
this month. "We had not expected it to hit us," she says.

 

The mass layoffs feel like a "tech pandemic," she explains. "Both my friend
and his wife lost their jobs on the same day. Everyone is in the same boat -
reaching out, exchanging condolences."

 

Ms Iyer says she has student loans to pay back and hasn't told her parents
back home in the western Indian state of Gujarat about her layoff.

 

In the US on an O-1 visa - granted to individuals with "extraordinary
ability and achievement" - Ms Iyer says she is confident of finding work.

 

Her resume lists degrees from prestigious design schools in India and the US
and the O-1 visa allows her to stay on for 60 days after the termination of
any job.

 

America's WARN (Worker Adjustment and Retraining Notification) Act offers a
buffer before the 60-day visa clock starts. WARN requires employers to give
a 60-day notice to the affected employees during a mass layoff.

 

"To ensure my status here and help me find an employer, my former employers
have given me a month's notice, so currently I have three months," she says.

 

But for many Indians, even 90 days is a tight timeline and has upended plans
they had. Many have families to support, others have thousands of dollars in
loans to pay off.

 

Naman Kapoor had borrowed money to pay for his masters programme at New York
University.

 

He was hired as an engineer by Meta after multiple rounds of interview only
to be laid off seven weeks later. "I got the termination email at 8am [local
time] on 9 November," he says.

 

"The whole idea is that a US education includes work experience," he says.
"It is very expensive to study in New York. I worked to support my living
expenses."

 

Mr Kapoor is in the US on an F-1 (OPT) visa which allows him only 90 days of
unemployment during his stay in country.

 

"Meta offered me four months of pay as severance," Mr Kapoor explains. "But
I have just three months within which I must find my next job or go back!"

 

Surbhi Gupta says worked very hard to build a life in the US "over 15
years".

Finding a new job in this environment will be tough, Ms Gupta says. "It's
almost December - hiring will be slow because of the holidays."

 

In the wake of the layoffs, Ms Khandelwal says a community has formed to
support people in crisis. Colleagues and employers have been spreading
information and offering referrals for prospects online.

 

"I created Zeno, [a platform] to help the impacted (workers) find jobs,"
says Abhishek Gutgutia, a tech worker based in the Bay Area. "It has seen
15,000 visits so far."

 

Mr Gutgutia says his LinkedIn post on Zeno has nearly 600,000 views. "About
100 candidates, 25 companies and 30 mentors have signed up. Several
immigration attorneys have also volunteered [their services]."

 

Vidya Srinivasan, a Meta employee, says she saw a "heart-warming outpouring
of support from Meta-mates" in her efforts to put together a "Meta Alumni
guide" for those whose lives changed overnight. Her online posts were seen
by over a million people, she says.

 

Amid such hopes, Indian immigrant workers remain on tenterhooks until they
land their next job.

 

"I am tired of being tested," Ms Gupta says. "How much stronger should I
be?".-BBC

 

 

 

WhatsApp groups help get food to those who need it

"Hey everyone, there's a food delivery today at 3pm." "Thanks for the curry,
it was amazing!" "I made pickles this week." "Should we all have an outing
somewhere soon?"

 

These are the kind of messages that fly back and forth, pretty much
constantly, on Rachel Diamond's phone.

 

Ms Diamond is the founder of My Yard, a charity. For each of the communities
she is plugged into, she runs a WhatsApp group, such as the one she set up
in 2018 for dozens of people who live on the Grange Farm Estate in Harrow,
north-west London.

 

"It not only feeds people, it brings the community together," explains Ms
Diamond.

 

Many residents on the estate are among the millions of people in the UK who
are currently experiencing food insecurity.

 

The cost of living crisis has sent demand for food aid soaring. You'll have
heard of food banks but food aid takes many different forms. Some are less
visible than others and, around the country, many people are now quietly
organising the sharing and redistribution of food themselves.

 

Often, it starts with a WhatsApp group for friends and neighbours.

 

When she first started working with the Grange Farm Estate community, Ms
Diamond found that using a messaging app allowed her to organise deliveries
of food donated by supermarkets and local businesses at the residents'
convenience.

 

"It was a stigma-free way of people accessing food and getting to know each
other," she says. "For me, it's really, really special."

 

Now she has about 20 groups that are swapping messages about food.

 

It has helped her keep in touch with those who have dietary requirements or
particular preferences. Some of the elderly people find that the price of
Spam has gone up a lot lately, so she gets dented tins unwanted by shops.

 

Everyone is different, she stresses, asking me to imagine freezing a
supermarket in time and having a look inside every shopper's basket: "I bet
you'd never find two baskets with the same things in. That is people's
lives."

 

She aims to supply a diverse variety of food that suits everyone. But due to
inflation, the overall need is growing. "It's devastating," says Ms Diamond,
referring to the cost of living crisis.

 

On one recent delivery, a van arrived packed with pallets of food including
fresh fruit and vegetables, breads and yoghurt, among other items.
Everything went in about ten minutes, she says. It used to take noticeably
longer.

 

While Ms Diamond has been running WhatsApp groups for communities for years,
new ones are springing up all the time elsewhere.

 

Last November, Camille Desprez, founder of Food Next Door, launched a group
for the residents of her block of flats in Brixton so that they could share
surplus food with one another and cut down on waste.

 

"[It's] working super well. We are able to save food almost every week," she
says.

 

Ms Desprez has since developed the idea into the Food Next Door project,
which has more than 100 members and which is establishing WhatsApp groups
across more than a dozen neighbourhoods in London and Paris.

 

One benefit, she adds, is that people can save money on food, noting that
among those currently taking part are some refugees.

 

Zero Waste initiatives that help people in poverty are a "positive
side-effect" of the movement, says Zero Waste consultant Rachelle Strauss.

 

"People are genuinely very frightened and very scared about their future,"
she adds, noting the seriousness of the current situation.

 

While WhatsApp, being so widely used, has its benefits, it also has
downsides, says Prof Reem Talhouk at Northumbria University. The messaging
app sometimes goes down for hours at a time. This could be significant for
anyone depending on the app for aid or their livelihood.

 

Alternative apps include Telegram and Signal. Volunteers for the Foodshare
Allotment at Nottingham Trent University stay in touch via Microsoft Teams
chat. Some food from their allotment goes to food banks, community kitchens
and local families.

 

And plenty of people share food without much need for the latest technology
- such as Ursula Juta, senior project officer at the Norfolk Rivers Trust,
who puts a basket full of surplus veg from her allotment on her garden wall.
People in her village can enjoy the produce for free.

 

Another issue with WhatsApp and other social media platforms raised by Prof
Talhouk is that they can sometimes be used for misinformation, scamming and
harassment.

 

"That's always something that we need to consider," she says.

 

And yet the potential power of messaging apps is hard to overstate. Another
food aid provider who uses WhatsApp is Emily Connally, managing director of
Cherwell Collective, a non-profit in Oxford.

 

"We can mobilise 200 people with one text," she says, noting how she doesn't
get as immediate a response on Facebook as she does via her WhatsApp group.
This matters because she sometimes receives a donation of food that is near
to its use by date, meaning it must be distributed very quickly.

 

The local Pret a Manger recently donated a surplus of 165 sandwiches. A
message went out to the WhatsApp group and people had collected all the
sandwiches within an hour, says Dr Connally.

 

Hundreds of locals rely on the food aid that she and her colleagues provide.
"We've seen a pretty dramatic increase and I think it will get much, much
worse," she says, referring to rising food prices.

 

Cherwell Collective was founded during the pandemic. Prof Talhouk suggests
that local community groups that respond to crises might need support, for
example from local authorities, to continue their work long-term.

 

Back at My Yard, Rachel Diamond stresses that the impact of the groups she
runs is not restricted to food aid. People help each other out with other
problems, too. They confront loneliness and strengthen social bonds.

 

"I find it absolutely fascinating," she says, "watching people grow in their
friendships - and their hope".-BBC

 

 

 

 

Small firms have a big role fighting climate change

For the past two years, Nikhil Arora has been working hard to cut his
organic gardening company's carbon footprint, taking small steps, like
shifting away from plastic packaging, to make his business, Back to the
Roots, the most environmentally efficient it has ever been.

 

The California-based company is small, employing just 21 people, but it
expects to make roughly $100m (£84m) in sales this year. Mr Arora says the
moves it has made are critical to the fight against climate change.

 

"Small businesses are the lifeblood of the US economy. We power most of the
jobs, most of the growth and, therefore, I think we will also power most of
the change," says Mr Arora, co-founder of the company, which started selling
organic gardening kits more than a decade ago.

 

Corporate giants such as Amazon and Walmart have faced much of the public
pressure over sustainability goals.

 

But a company's supply chain produces 11 times more emissions than the
company on its own, the Carbon Disclosure Project (CDP), a non-profit
charity that runs the global emissions disclosure system, has found.

 

In industries like retail, it found that supply chains produce 25 times more
emissions than the company itself.

 

"You can't solve the climate problem without addressing small businesses,"
says Michael Vandenbergh, law professor at Vanderbilt University and
director of its Climate Change Research Network. "They make up a very large
share of the carbon emissions associated with big companies' supply
chains... so you can't get to any meaningful change without dealing with
small businesses."

 

Small businesses make up 99% of US companies and employ nearly half of the
American workforce.

 

But their sheer numbers make it easy for them to fly under the radar and
mean they're tough to regulate.

 

Advocates say focusing on supply chains can make it easier to engage with
small businesses, unlocking billions in emissions savings.

 

"For an individual company, their relative impact is not high," says Simon
Fischweicher, head of corporations and supply chains for the CDP's North
America branch. "But when you think about the collection of tens, hundreds
and millions of small enterprises that are suppliers to these large
corporations, they're incredibly important.

 

"So global value chains are one of the most effective tools driving impact."

 

Small Business USA

If it's true to say the US is the engine of the world economy, then small
and medium-sized businesses are the fuel that drives that engine.

 

Small businesses create nearly two-thirds of new jobs in the workforce and
account for 44% of US economic activity. So what's the secret to their
success? What challenges do they face and which are the best cities and
regions for them to thrive?

 

As the climate crisis worsens and larger companies look for the most
efficient ways to reduce their environmental impact, cutting a company's
"Scope 3" emissions - or emissions from the supply chain - has gained
traction with big companies.

 

At COP 27 in Egypt, the UN's annual climate summit, more than a dozen of the
world's largest food firms said they planned to end deforestation in their
supply chains by 2025, making collaboration with smaller suppliers key to
accelerating climate action.

 

US retail corporation Walmart attributes 95% of its emissions to its supply
chain, which includes thousands of small suppliers. "From day one, working
with small businesses was key," says Jane Ewing, senior vice president for
sustainability at Walmart.

 

"We feel we can play a really important role in saying, 'Hey, here's some
tools,' and then we help guide them along that journey. We've seen more
[small businesses] lean in than ever before."

 

In 2017, Walmart launched Project Gigaton, which aims to use its might to
help small firms in its supplier network track their carbon footprint, set
sustainability goals, and access more favourable loan terms.

 

Mr Arora's Back to the Roots joined the programme in 2019, along with 2,400
other businesses, in the hope of lowering its emissions.

 

Mr Arora, who counts Walmart as his biggest client, credits the retailer
with helping his business find, solve and track its main sources of carbon
emissions, pushing it towards its goals.

 

"This is by far the most efficient we've been in terms of carbon emissions.
We've been able to scale this company at an exciting pace while also not
increasing our environmental footprint," he says.

 

Walmart says the success at Back to the Roots has been replicated across its
network, helping to reduce greenhouse gases by 574 million tonnes since
2017.

 

That has put it halfway towards its goal of cutting emissions by one billion
tonnes by 2030 - an impact equivalent to Germany going carbon neutral for a
year.

 

Walmart is not alone in taking action. Overall, CDP has found that roughly
200 major corporations have leaned on their suppliers to reduce their carbon
footprints, helping to reduce greenhouse gas emissions by 1.8 billion tonnes
last year alone.

 

But for many small companies, being sustainable is a luxury.

 

In a recent survey by the SME Climate Hub, a platform that works with small
and medium enterprises to cut their emissions, two-thirds of small business
owners said they were concerned they would not be able to reduce their
carbon footprint, citing knowledge, funding and time. About 70% said they
would need access to external funds to reduce their emissions.

 

The economic climate does not favour small businesses either, says Pamela
Jouven, director of the SME Climate Hub, often making sustainability their
last priority.

 

"They're having to face this perfect storm of rising energy prices,
inflation and supply chain disruption. So the very first challenge for these
small businesses is how to survive. It's hard for them to make the time to
add another project to the list," she says.

 

At the Carbon Disclosure Project, Simon Fischweicher is staying optimistic.
One day he hopes that supply chain decarbonisation will become so
commonplace and accessible that even small businesses will start looking at
how they can reduce their own value chain's carbon footprint.

 

"When we'll start to see [supply chain decarbonisation] be adopted by
smaller companies, that's when we know we're going beyond that first tier of
impact, and we'll start to see real change happen."-BBC

 

 

 

 

Simpson's Tavern: Historical London chophouse fights for its future

Self-proclaimed as London's "oldest chophouse", Simpson's Tavern is fighting
for its future following a surprise closure.

 

The Grade II-listed tavern has stood on Cornhill for more than 250 years -
surviving fires, wars and epidemics.

 

After getting into rent arrears during the coronavirus pandemic, the venue's
locks were changed by the landlord last month, closing the business.

 

Now the tavern is raising funds to reopen and keep its heritage alive.

 

Founded in 1757 on Cornhill, Simpson's was where influential people met to
trade and do deals over lunch, long before the emergence of the modern
skyscrapers of glass and steel that surround it today.

 

Customers used to be able to look at what meat was on offer, select their
preferred cut and watch as it was cooked in front of them on charcoal grills
- a service Simpson's provided until 1979.

 

Now, it sits on the capital's Heritage Walk and is frequently a stop for
tourists on guided tours, who are attracted to its rich history and famous
former clientele including Charles Dickens.

 

After the UK went into lockdown in March 2020, like many hospitality
businesses Simpson's built up sizeable rent arrears - of more than £300,000
- and eventually the landlord changed the locks and demanded payment in
full.

 

Benjamin Duggan, the general manager of Simpson's, said: "Its been
extraordinarily difficult for the team. They've done nothing wrong, but now
we're sadly going through redundancy conversations with people who've worked
with us for decades.

 

"I've been lucky enough to be the custodian for many years and I can feel
the heritage and the significance for people as they come through."

 

He added: "The time, the blood, the sweat, the tears, the memories, the
claret soaked into the walls, the stories absorbed by the furniture - that
can't be replicated anywhere else.

 

"It lives here in this place, and extinguishing that rubs it from the
history sheets in a cruel fashion."

 

Benjamin Duggan, the general manager of the tavern, says he hopes the
landlords "see reasonable sense" and work out a solution so it can carry on

The business has launched a crowdfunding campaign to pay what is owed, and
has raised almost £100,000 so far from nearly 2,500 supporters.

 

"My only hope is that the landlord and their agents will come to some
reasonable sense and understand the damage that they are doing to this
historic institution," Mr Duggan said.

 

"But I rely on them coming back, sitting down at the table, discussing a way
through and allowing this piece of history to trade and live on."

 

Simpson's landlord, Bermuda-based Tavor Holdings, said it did make
allowances during the lockdowns but since July 2021 it had been trying to
come to an agreement to get the money it is owed.

 

In a statement, the firm said: "The issue here is with the tenant, not with
Simpson's. The tenant, Restaurant EC3 Limited, is under the control of its
sole director and owner Mr Sarvindra Singh.

 

"He has consistently failed to settle commitments or engage meaningfully in
negotiations over several years. The landlords had no choice but to act."

 

Both Simpson's and Mr Singh dispute this.

 

City of London councillor Peter Dunphy has lodged a request to list the
venue as an asset of community value, in an attempt to preserve it

In the meantime, City of London councillor Peter Dunphy has lodged a request
to list the venue as an asset of community value - a designation that aims
to protect civic buildings, schools, pubs and open spaces that further the
social wellbeing or social interests of the local community.

 

This would give Simpson's a way of ensuring the interior of the business is
safeguarded in its current form.

 

"The impact on this particular business is directly related to the Covid
lockdowns because it's a dispute over arrears that built up during that
period," he said.

 

A decision on the tavern's application to become an asset of community value
is due on 15 December but until then, and without some kind of payment of
the money owed, the future of this 265-year-old venue hangs in the
balance.-BBC

 

 

 

 

Cost of living: Energy suppliers failing vulnerable customers - Ofgem

Energy suppliers have been failing vulnerable customers, the sector's
watchdog has said, as people face a cold and costly winter.

 

Ofgem told all 17 firms that took part in its review to improve, with five
found to have severe weaknesses.

 

Among its findings were examples of suppliers setting debt repayments so
high that customers decided they could not top-up their pre-payment meters.

 

But some of the suppliers hit back, calling the review "incomplete".

 

Consumer groups described the regulator's report as "hugely concerning" at a
time when people were being hit by bills double the level of last winter,
amid the soaring cost of living.

 

The five suppliers identified by the report as having "severe weaknesses"
were Good Energy, Outfox, So Energy, Tru Energy and Utilita - which prompted
a strong response from some of the firms.

 

"Moderate weaknesses" were found at suppliers E (Gas & Electricity),
Ecotricity, Green Energy UK, Octopus and Shell.

 

Ofgem said that seven others had shown minor weaknesses, including British
Gas, Bulb, EDF, E.ON, Ovo, Scottish Power and Utility Warehouse.

 

The regulator said some of the worst examples of poor practice included
suppliers failing to read the meters of customers who could not do so
themselves.

 

It also found that some vulnerable customers were unable to contact their
supplier to top up their meter or to request support credit.

 

In some cases, debt repayment rates were set so high that vulnerable
customers self-disconnected - in other words, did not top-up their
prepayment meter when the credit ran out.

 

Neil Lawrence, Ofgem's director of retail, said "most suppliers" took their
responsibility to protect vulnerable customers seriously and added firms had
launched new initiatives - including dedicated phone lines.

 

"Although we are seeing some very good practice in parts of the industry, we
can see there is still much more to be done."

 

He added: "We've seen a number of failings across the board which need to be
urgently addressed.

 

"It's going to be a very challenging winter for everyone and customers must
be confident they are getting the help and support they need."

 

It is Ofgem's third review into various aspects of suppliers' treatment of
customers. The first demanded action on soaring direct debit demands and the
second found more help was needed on payment plans for those struggling to
pay.

 

This latest review required suppliers to give evidence about how they
identified and kept records of customers in a vulnerable situation, and
whether they were added to a priority register for help.

 

Suppliers also gave information about free gas safety checks and vulnerable
prepayment meter customers.

 

All the suppliers that submitted data to the regulator were told they must
improve their practices.

 

Ofgem said that in general, there were risks that people were not identified
as vulnerable and given the support they were entitled to.

 

But questions have been raised for the regulator itself, which has been
accused of being asleep at the wheel when bills are soaring and suppliers
failing.

 

In response, it said it had moved proactively, rather than waiting for
issues to be reported.

 

To help households with higher bills, the government introduced a cap to
limited price rises, meaning a typical home pays £2,500 a year for gas and
electricity. However, the cap is on the unit price of energy, so those with
higher usage will pay more.

 

This cap has been extended for 12 months from April, but will be at a higher
level, so a typical household will pay £3,000 a year. Various cost-of-living
payments have been announced to protect the more vulnerable, but charities
and consumer groups have warned that many will still face a particularly
tough time this winter.

 

Rocio Concha, from consumer group Which?, said suppliers needed to up their
game to help people on the lowest incomes.

 

"It is hugely concerning to see Ofgem has found that so many energy firms
are falling short on the support they provide to their most vulnerable
customers," she added.

 

However, Energy UK, which represents suppliers, said many firms had gone
beyond what they were required to do by the regulator.

 

"Identifying and supporting vulnerable customers is already a top priority,"
said Dhara Vyas, director of advocacy at Energy UK.

 

"Our members have responded swiftly to Ofgem's review - including providing
additional documentation to demonstrate where processes were already in
place, and will continue to look at all the ways they can make sure people
get the help and support they need."

 

Some of the suppliers named as having the biggest problems reacted strongly
to Ofgem's report.

 

Simon Oscroft, co-founder of So Energy, said: "Over the course of the last
months and weeks, we have provided Ofgem with extensive additional
information related to this review and we are disappointed that Ofgem has
proceeded on the basis of incomplete information, and in a manner that may
now cause vulnerable customers unnecessary concern."

 

A spokesman for Utilita said: "Ofgem's report does not represent where we
are as a business today, nor does it acknowledge the significant progress we
have made - and are making - since its initial assessment in early summer."

 

The BBC has contacted Good Energy, Outfox and Tru Energy for comment.-BBC

 

 

 

Nottingham Castle Christmas traders lose thousands due to closure

Traders at a Christmas market that had been due to take place at Nottingham
Castle fear they have lost thousands as a result of its sudden closure.

 

Nottingham Castle has closed to visitors after the trust that runs it went
into liquidation.

 

Traders at the market, which was due to take place at the weekend, said
businesses in the city would suffer as a result.

 

The castle trust said it was "saddened and hugely disappointed" to be
closing.

 

'A real shame'

The Christmas craft market was due to take place in the castle's grounds
from Friday to Sunday but has now been cancelled.

 

Neal Price, the director of Chilli Bobs, a business that sells sauces and
pickles, said: "It's one of our busiest times of the year and we were
getting really excited and getting ready for this weekend's market.

 

"Each trader was looking to make around £2,000, if not more. This near to
Christmas, that's very difficult for us to overcome.

 

"It will affect a lot of businesses around Nottinghamshire.

 

"The majority of our business is done by events like this throughout the
year. We were hoping Christmas would be good and bring things back."

 

Charlotte Taylor, who runs a jewellery business, said: "It will affect our
businesses massively.

 

"Already, we've had not the best year, as I'm sure lots of others haven't.

 

"I could have made probably £6,000-7,000 in that three days.

 

"The footfall for the castle is always fantastic. This weekend was one where
people get their Christmas presents. It's a real shame."

 

In its statement, the trust that runs the castle said: "This is a
heart-breaking day for trustees, our staff, visitors, and the city.

 

"Despite the immense dedication of staff and volunteers, the castle is now
closed to visitors.

 

"While visitor numbers have been improving, they have unfortunately remained
highly unpredictable and significantly below forecasts, mirroring the
difficulties seen across the whole cultural sector."

 

Nottingham City Council, which owns the castle, described the decision as
"hugely disappointing and a significant blow for the city and its visitor
economy".

 

"Our immediate priority is to work with the appointed liquidators to
safeguard the site and its collections while it is not operational and to
support staff at the castle affected.

 

"We appreciate the significant efforts they put into the site and understand
how devastated they must be by this news.

 

"We will re-open the castle as soon as possible.

 

"Once we have a clearer picture from the liquidators, we will explore all
available options together with our key partners... to develop a fresh
business model.

 

"There is a real commitment from all parties to see this important cultural
asset fulfil its full potential."-BBC

 

 

 

South Africa: Nxesi Sets Record Straight On Wage Offer

Acting Public Service and Administration Minister, Thulas Nxesi, has set the
record straight on government's wage offer to public servants.

 

"Contrary to the propagated untruth that government is only offering [a] 3%
[increase], the fact is, government is offering a sum total of 7.5% composed
of the following: non-pensionable cash allowance of R1 000.00 after tax,
which amounts to 4.5%, and a 3% pensionable increase across the board.

 

"Some in the media fraternity have ignored this fact of a 7.5% government
offer, and have chosen to continue with the misinformation of only 3%, as
propagated by some in organised labour.

 

 

"The result is a grand scale of misleading public service employees, and the
public at large," the Minister said in a statement.

 

The Department of Public Service and Administration went further to explain
that the R1 000.00 monthly non-pensionable allowance, currently paid to
public servants, was actually an increase and not "an allowance", as it was
said by some leaders in organised labour.

 

"The non-pensionable cash allowance of R1 000.00 is actually an outcome of
the wage negotiations in the year 2021/22.

 

"Contrary to the assertion that there was no non-pensionable salary
adjustment in the 2021/22 financial year, government was able to put an
estimated package of 6% [increase] in the pockets of employees through the
payment of the R1 000 (4.5%) non-pensionable cash allowance and the 1.5% pay
progression to public servants.

 

"The pay progression was in line with the agreement to use the budget of R8
billion that was budgeted for pay progression, and this was paid to all
employees on levels 1 - 12. Resolution 1 of 2021, clause 4.1 states: 'The
employer will pay a once-off pensionable salary adjustment of at least 1.5%
to all employees employed in the public service on 1 April 2021'.

 

 

"Our colleagues in organised labour, including the leadership, are aware of
these facts and the misinformation and misrepresentation is rather
mischievous, and is condemned.

 

"Clause 4.3 of the same resolution reads as follows: 'This 1.5% once-off
adjustment, payable in terms of clause 4.1, will be implemented with effect
from 1 July 2021'.

 

"Some members of organised labour are peddling further untruths with
reference to the decision of the Constitutional Court regarding the
implementation of the last leg of Resolution 1 of 2018. These members of
organised labour have misrepresented facts by stating that the employer took
the unions to the courts," the department said.

 

The department reiterated that government has not abandoned wage
negotiations. However, it had to ensure that "salary adjustments for public
servants were included in budget adjustments made by National Treasury, led
by Minister of Finance, Enoch Godongwana".

 

"Minister Nxesi calls on the PSCBC [Public Service Co-Ordinating Bargaining
Council] to continue its facilitation role for government and organised
labour to find each other.

 

"As government, we remain committed to respecting organised labour,
safeguarding the collective bargaining processes and promoting labour peace.
Government will... ensure that the bargaining process is protected.

 

"The Minister appeals to the media to test the claims and allegations that
are made by organised labour as it embarks on industrial action. Some media
institutions and journalists present the claims made by some labour leaders
as factual without testing them. It is important that reporting is accurate
to avoid misinformation and propaganda," the department said.

 

-SAnews.gov.za.

 

 

 

South Africa: Matrics, Commuters Hit By Cape Town Taxi Strike

Taxis stopped running on Monday, leaving Cape Town commuters, learners and
workers stranded.

The taxi drivers are demanding that the provincial government's Blue Dot
programme, due to end this month, be continued.

At least two buses were torched in the early hours of Monday morning.

The South African National Taxi Council (SANTACO) denies that the violence
is related to the taxi strike.

Several violent incidents were reported on the first day of a taxi strike in
the Western Cape on Monday. Some matric learners were unable to get to
school to write their exams and commuters struggled to get to work.

 

 

The stay-away, organised by the South African National Taxi Council
(SANTACO), is expected to last two days. SANTACO is demanding an end to the
impounding of taxis and a continuation of the Western Cape government's Blue
Dot Taxi project, which aims to incentivise good driving with subsidies.

 

One Golden Arrow bus and at least one MyCiTi bus were set alight in
Khayelitsha on Monday morning. There were several reports of buses and
vehicles being stoned.

 

According to the City of Cape Town, some MyCiTi staff members were held
hostage and prevented from operating ticket kiosks. MyCiTi bus routes were
also suspended due to "intimidation and threats", the City said.

 

Khayelitsha resident Nonkosi Majekula said she was at the bus stop when the
MyCiTi bus was set alight. "There was a big explosion. I think they used a
petrol bomb. I could not tell who exactly burnt the bus as we were all
running like headless chickens," she said.

 

 

Another eyewitness, Sisanda Ludidi, said the Golden Arrow bus was set alight
by a group of men. "They came in numbers, forcing people out of their cars.
A Golden Arrow bus came. They started by throwing stones at it before one
threw a petrol bomb. Then they ran away," she said.

 

She said the bus had people inside who were ordered to get out before it was
torched.

 

Police spokesperson Captain Frederick van Wyk told GroundUp that police are
investigating a case of malicious damage to property. He said that a bus
driver had reported that his bus had been shot at and an unknown passenger
injured.

 

Fake reports also made the rounds on social media. Golden Arrow spokesperson
Bronwen Dyke-Beyer told GroundUp that only one Golden Arrow bus had been set
alight and that buses were operating at full service, with the help of law
enforcement and police.

 

 

Commuters, learners and businesses affected

 

Commuters struggled to find buses to get to the City this morning. One
Khayelitsha resident, who works as a cleaner in Rondebosch, said that she
had to walk far to get to a bus because her usual bus stop was not
operating. She left home at 5:40am and was only able to get on a bus at
7:20am.

 

Matric learners writing exams were also affected. To assist them, the
Western Cape Education Department announced on Sunday that learners would be
allowed to write exams at any exam centre close to them.

 

"Initial indications suggest that there has not been widespread disruption
of matric exams today," said education MEC David Maynier. He said this was
"a testament to the preparations our schools and districts have made".

 

Grade 12 learner Sibahle Ndlangisa from Gugulethu, who attends Marian RC
High School in Matroosfontein, wrote her Life Sciences exam at the Fezeka
High School in Gugulethu.

 

She told GroundUp that a post on social media informed her she could go to a
different exam centre. She usually takes a taxi to school but walked to the
exam centre, which took her about 20 minutes.

 

Another Grade 12 learner from Khayelitsha said it usually takes him 11
minutes to get to school by taxi, but today he had to walk for an hour.

 

"It was a big inconvenience for me because it is a long walk, I got to
school tired. And when walking to and from school I have to go via Site B
which is very dangerous. People get robbed and stabbed there."

 

Learners attending school and writing exams in Kayamandi, Stellenbosch, who
came from surrounding areas, were also affected. Some matrics spent the
night with friends or family closer to the school while learners in other
grades stayed at home. Several teachers at a high school in Kayamandi did
not turn up for work.

 

GroundUp spoke to two parents who hitch-hiked with their children to get to
their primary school 11km away. Some university students in Stellenbosch
were left without transport to get home after their exams. Some Uber and
Bolt drivers decided not to operate in Stellenbosch as they were afraid of
being attacked by taxi drivers.

 

Bellville taxi rank, which is usually a hub of vibrant activity, was very
quiet. Many workers could not make it to work and there were only a few
informal traders at the taxi rank. A security guard said that out of a team
of 20, only ten people made it to work. The rest of the staff who live in
Khayelitsha could not make it.

 

"It's bad for our colleagues who won't work for two days. We operate on a no
work no pay basis," he said.

 

A manager of a fish and chips shop in Bellville said only nine of his 22
employees came to work and that some of them walked from Delft.

 

"Business is quiet," he said. "Without taxis here robbers also take chances
so we need to be vigilant. We feel safe when taxis are parked outside."

 

Mkuseli Ndlwana, who sells pork chops at the taxi rank in Dunoon, said he
had to spend R200 on a private car to go to buy meat. He usually spends R40
on a taxi trip. He sets up his braai stand and lights the fire at 9:30am,
but on Monday, the minibus taxi strike made it impossible for him to start
before noon. There were fewer customers than normal, he said.

 

In a statement, COSATU, FEDUSA and SAFTU Western Cape said mass action
intended for Tuesday had been postponed in light of the situation and to
ensure the safety of members.

 

Taxi driver demands

 

SANTACO first deputy chairperson Gershon Geyer told GroundUp that the
association did not condone the violence. He denied that the violence was
linked to the strike. He said that there were no plans for taxi drivers to
march or gather.

 

In 2021, the Blue Dot project was started by the provincial government to
incentivise driving and good service. But it will come to an end on 30
November due to budgetary constraints. The taxi industry wants it to
continue.

 

SANTACO is also unhappy about City bylaws that they say are unfair and about
the impounding of vehicles.

 

The City released a statement this morning condemning the violence and
insisting that they are doing everything in their power to help formalise
the taxi industry. The City called on the national government to drive this
process.

 

Mayoral Committee Member for Urban Mobility Rob Quintas said the industry
"must be supported through funding from the National Government".

 

Public Transport Activist Lorenzo Davids said that the taxi strike was
predictable because of the provincial government ending the Blue Dot
programme.

 

"One cannot start a programme of this magnitude and then just end it after
18 months because you have run out of budget," he told GroundUp.

 

"This programme necessitated careful planning and budgeting because the taxi
industry is the backbone of public transport in the Western Cape as well as
the rest of the country, transporting over two million people daily in the
Western Cape."

 

-GroundUp.

 

 

 

South Africa: Gordhan Meets Eskom Board

Public Enterprises Minister, Pravin Gordhan, has held an urgent meeting with
the Eskom board.

 

This comes after the power utility on Sunday announced it would implement
Stage 4 and 5 load shedding after it experienced more breakdowns at its
power stations over the weekend.

 

The Department of Public Enterprises (DPE) in a statement said Gordhan was
informed during the meeting that the relevant Eskom board committee had
recently engaged with power station managers and the generation management
team to apprise the board of the situation at power stations.

 

 

"The DPE is urgently working with National Treasury and Eskom to find the
money to buy supplies of diesel," said DPE spokesperson, Richard Mantu.

 

In addition, DPE will be engaging Eskom on several other issues.

 

These include looking for savings within the existing Eskom funds for the
ongoing purchase of diesel and maintenance.

 

Another issue of engagement will be an assessment of the board on the
challenges Eskom faces in the current fleet of power stations, and the
exceptional interventions that must be made to create more reliability in
the performance of power stations.

 

Mantu said the board is "urgently seeking the assistance of all the
enforcement bodies to immediately bring a halt to the local level
disruptions and criminal activities which impact on power stations".

 

"Eskom undertakes to continuously ensure that its officials are made more
cognisant of the importance of a reliable electricity system to the economic
and social well-being of all South Africans," he said.

 

The DPE said all possible efforts are being made to ensure that all of the
measures in the national electricity plan are implemented.

 

-SAnews.gov.za.

 

 

 

 

Nigeria: Operators Fume Over Federal Govt's Proposed 20 Percent Tax On
Non-Alcoholic Beverages

Operators in the carbonated soft drinks sub-sector of the Manufacturers
Association of Nigeria (MAN) have raised alarm over implications of the
federal government's proposed 20 per cent Ad-valorem Excise Tax on
non-alcoholic beverages, which covers the widely consumed Carbonated Soft
Drinks (CSD) segment.

 

The sectoral group players rising from a meeting on Thursday 17th November
2022 in Lagos, posited that, such a move will spell doom for the sector as
the effect of the prevailing N10 per litre tax regime is already crippling
the sector with its biting effects on their businesses.

 

Industry study had shown the impacts of the prevailing N10 per litre excise
tax effect between June and August 2022, revealing - eight per cent revenue
decline as a direct result of excise tax implementation. It is projected
that the decline will hit -25 per cent by December 2022, if not reviewed.

 

 

This excludes the cost of write-offs of products produced, excised but not
sold. This, coupled with the proposed 20 per cent Ad-valorem tax
introduction, operators said, will collapse the soft drink market that is
already struggling.

 

Aside thousands of Nigerians who will be relieved of their jobs, hence,
compounding the rising unemployment in the country, more soft drinks lovers,
it was learnt, may seek alternative elsewhere, meaning that, operators will
no longer be able to run profitable businesses that will generate revenue
for the economy.

 

"Most certainly, the additional 20 per cent will not only kill the sector
but result in the loss of revenue by the federal government, and a
consequential phenomenal loss of jobs by various layers of the Nigerian
workforce," the operators said in a position paper released at the end of
the meeting.

 

This sectoral distressed position was laid bare on Thursday, November 17th,
2022 by the Soft Drinks Manufacturers Sub-sector of the Manufacturers
Association of Nigeria (MAN),

 

 

It should be noted that the soft drinks manufacturers accounts for 33 per
cent of the entire manufacturing sector in the country.

 

Interestingly, the manufacturing industry contributes 15 per cent to the
Gross Domestic Product (GDP) of the Nigerian economy, while the food and
beverage sector contributes 5 per cent, and with a payment of N202 billion
to the government on Value Added Tax (VAT), and N207 billion in Company
Income Tax(CIT), enormous amounts that would be lost by the federal
government if the sector is allowed to collapse.

 

Quoting the Nigeria Bureau of Statistics (NBS), they said, the food and
beverage division of the economy in the last five years generated 1.5
million jobs, both direct and indirect, and it was from 2020 to date, that
some companies in the sector strived to pay Minimum Tax, which is a pointer
to the fact that the business climate is deteriorating, as the companies are
finding it difficult to carry out their operations effectively.

 

Speaking at the meeting with one voice, the sectoral heads decried the
devastating effects of the N10 per litre tax, which has become burdensome
with the high cost of operation in the country and its constituent elements.

 

This, they noted, is already having devastating effects on the end cost to
consumers, considering their poor economic condition; adding that, an
additional 20 per cent will most certainly kill the sector.

 

They, therefore, called for the suspension of the catastrophic excise tax
being proposed by the federal government to forestall the collapse of the
industry.

 

Corroborating this position, Corporate Affairs and Sustainability director,
Nigerian Bottling Company (NBC), Ekuma Eze, pointed out that, since the
introduction of the N10 per litre Excise Tax, businesses in the sector have
been experiencing a worrisome decline, the average loss in volume and
revenue is -10 per cent between June to September 2022, and it is estimated
that the decline will further worsen to -25 per cent by December 2022.

 

-Leadership.

 

 

 

Tanzania: Fall of Employment in Tanzania Agriculture Sector, a Good Sign?

Growth of employment in the manufacturing sector could be a sign of
agro-industrialization

 

Employment in Tanzania's agriculture sector is said to be dropping while
that in the manufacturing sector is on the rise, a change driven by
agriculture mechanisation.

 

In its Integrated Labour Force Survey for 2020/21 report, the National
Bureau of Statistics (NBS) shows that the employment percentage in
agriculture (including forestry and fishing) dropped from 66.2 per cent in
2014 to 61.1 per cent in 2020/21.

 

At the same time, the report shows that employment in the manufacturing
sector has increased from 6.7 per cent to 8 per cent in the same period.

 

 

Data shows employment in agriculture dropped from 66.2 per cent in 2014 to
61.1 per cent in 2020/21.

Agriculture mechanization agenda brings about the need to increase
percentage of skilled labour.

More labour force has been absorbed into the manufacturing sector is a sign
of increased skilled labour

What do these figures mean? On the one hand, does it mean that fewer people
are seeking employment in agriculture and more people looking for jobs in
the manufacturing sector?

 

On the other hand, it could mean that ongoing government efforts to
mechanise agriculture and develop its value chains in a bid to industrialize
the economy are paying off. Could it be that the reduced figures in
agriculture employment only indicate that people are been employed along the
sector's value chains and not in the traditional fashion as peasants working
on a farmland?

 

 

Similarly, could it be that the increased number of employment in the
manufacturing sector only indicate that their more value addition factories
been set up along the agriculture value chains?

 

Either view spell good fortune for the country, one the one hand it may mean
that the agriculture sector is mechanizing and on the other hand it means
there are more opportunities opening up in the manufacturing sector, either
way, it means that the national industrialization initiative is working.

 

By comparison, two decades ago in the year 2000, this figure was very
different. The percentage of employment in Tanzania agriculture sector was
83 percent but as of 2020, the figure dropped to 65 percent of total
employment in Tanzania.

 

However, as mentioned, the change in percentages could mean that the
agriculture sector is developing into a much more modern and mechanised
sector in accordance to national development plans, which prioritize
agriculture mechanisation.

 

 

Tanzania agriculture mechanization: From substantial to commercial

 

As pointed out, Tanzania is well on its way to achieving agricultural
mechanization. In the International Food Policy Research Institute 2020
report titled 'Agricultural Mechanization in Tanzania,' the organization
points to the success of this national development initiative.

 

In another report titled 'Industrialization in Tanzania: A window for
entrepreneurial opportunity: the author Nyanjenge Mayala points out that;
Shifting the labour force from agriculture to manufacturing remains the best
option for the country to enhance efforts towards industrialization, thus
increasing overall productivity,' notes

 

The goal of agriculture mechanization is to increase productivity, but with
mechanization comes the need for skilled labour and so the agriculture
mechanization agenda also brings about the need to increase skilled labour
in the country.

 

This is another good indicator of development because when more people are
being employed in the manufacturing sector, it means that there is an
increase in the number of skilled labour across the country's workforce.

 

" It creates new skills and a work attitude, catalyses institutional change
and fosters cutting-edge entrepreneurship. It serves as a means of
modernizing the export structure and creating the base for sustained export
growth, in conjunction with higher wages," Mayala writes in the scholarly
paper that was published by the Moshi Co-operative Tanzania.

 

Further still, increased industrialization and related agriculture
mechanisation helps create employment that poor economies like Tanzania
need. This is true as the country gets more and more graduates every year
who need employment, this skilled labour is now employed in the mechanized
agro-processing industries of an industrializing country.

 

"For that reason, industrialization has long been, and stays, the most
powerful engine of structural change and modernization."

 

After manufacturing comes the service sector, more and more Tanzanians are
being employed in the service sector, another sign of a growing skilled
labour. The NBS Labour Force Survey for 2020/21 report shows that employment
in services increased from 27.1 percent in 2014 to 30.9 per cent in 2020/21.

 

The NBS report that indicates the decrease in the share of employment in
agriculture and an increase of employment in manufacturing and services,
points to a big structural change in the economy.

 

There is a shift, a change in the nature and composition of Tanzania's
workforce from labour-intensive to skilled labour. This shift is well
received as the report authors describe it as 'a good sign of economic
transformation' it is a sign Tanzania mechanisation.

 

The report authors contend that the fact that the proportion of labour
employed in agriculture has decreased while that in other sectors, notably
manufacturing and services, has increased, then it is a clear sign of an
industrializing nation.

 

Agriculture mechanization in Tanzania is also evident in the fact that even
though employment in the sector is decreasing, but the sector's overall
performance is actually increasing.

 

According to Tanzania's Commissioner of Financial Sector Development, Dr
Charles Mwamwaja, between 2015 and 2019, the agriculture sector grew at an
average of 5.2 per cent, while the subsector of agricultural products
continued growing at an average of 5.8 per cent.

 

"It means that the agriculture sector is served by a lesser labour force but
yet it has sustained and even increased productivity," reads the report.

 

As deduced earlier, another derivation from this data is an increase in
skilled labour proportion in the country. The fact that more labour force is
being absorbed into the manufacturing and service sectors, sectors that
require high skilled labour, then it is a sign of increased skilled labour
in the country, a welcomed fact.

 

According to the International Trade Administration agency of the US, '
Agriculture in Tanzania represents almost 30 per cent of the country's GDP
with three quarter of the country's workforce involved in this sector.'

 

Financing agriculture mechanization in Tanzania

 

"Nothing beats the power of a skilled, knowledgeable farmer who is equipped
with the right information at the right time in the right season," comments
Noelah Bomani-Ntukamazina, the Learning and Talent Development Manager at
the Tanzania Agricultural Development Bank.

 

The African Development Bank Group has created what it calls the African
Development Fund. Through this window, the bank has provided a US$93 million
loan to the Tanzania Agricultural Development Bank that is meant to increase
access to agricultural credit.

 

According to the Tanzania Agricultural Development Bank, the loans so
extended have reached at least 105 farmer groups and cooperatives, covering
1.68 million farmers, who are responsible for 75% of the country's
agricultural production thanks to agriculture mechanisation in Tanzania.

 

Another impressive achievement backed by the Bank is the funding of some 19
agro-processing industries across 16 regions in the country. Thanks to the
Bank's support, these industries received US$45 million in credit to
accelerate agro-processing.

 

As a result of this funding from the Tanzania Agricultural Development Bank,
the industries are expected to significantly contribute to the achievement
of the country's industrialization targets as explicitly expressed in
Tanzania's Development Vision 2025, which promotes Tanzania's mechanisation.

 

-The Exchange.

 

 

 

 

 

 

 

 


 


 


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
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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
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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.

 


 

 


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