Major International Business Headlines Brief::: 31 August 2023

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Major International Business Headlines Brief::: 31 August 2023 

 


 

 


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

 


 

 


 

ü  Tanzania: Uhuru Torch Race to Inspect 26 Projects in Rukwa

ü  Egypt-Sudan Trade Exchange Recorded $1.4 Bln. in 2022 - Capmas

ü  Nigeria: Special Report - Ogun Farmers Count Losses As Oil Spills From
Vandalised Pipelines Destroy Farmlands

ü  Liberia: Technical Issues Disrupt Electricity Token Vending in Liberia

ü  South Africa: Prasa Promises Full Service On Cape Town's Northern Line By
December

ü  South Africa: Harmony Gold's Annual Earnings Soar As Mponeng, World's
Deepest Mine, Delivers

ü  South Africa: Swellendam Residents March for Cheaper Electricity

ü  Kenya Pipeline Completes Takeover of Changamwe-Based Kenya Petroleum
Refineries Limited Facility

ü  Kenya: Data Commissioner Kassait on the Spot for Endorsing Worldcoin
Activities

ü  Kenya Joins Efforts to Have Free Trade Area Across All African Countries

ü  Country Garden: Debt-laden China property giant in record loss

ü  Pass AI law soon or risk falling behind, MPs warn

ü  GDP: Why India's soaring food inflation is a global problem

ü  Lego sees profits fall as pandemic boost fades

ü  Families worried about expenses after flights axed

 


 

 


 

 <https://www.cloverleaf.co.zw/> Tanzania: Uhuru Torch Race to Inspect 26
Projects in Rukwa

Nkasi — THE Uhuru Torch Race arrived in Rukwa Region on Tuesday and is
scheduled to inspect 26 development projects valued at 14.4bn/-.

 

It will also lay foundation stones and launch various development schemes.

 

The reception of Uhuru Torch was held at Kizi village in Nkasi District
bordering Rukwa and Katavi Regions.

 

Sumbawanga District Commissioner Mr Sixtus Mapunda received the Uhuru Torch
from his counterpart Mlele District Commissioner Alhaj Majid Mwanga.

 

At the reception of the Uhuru Torch Mr Mapunda represented Rukwa Regional
Commissioner Mr Charles Makongoro Nyerere while Alhaj Mwanga represented
Katavi Regional Commissioner Ms Mwanamvua Mrindoko

 

 

Mr Mapunda said the torch race will cover 778.8 kms and will inspect various
development projects worth over 14.4bn/- to ensure quality and value for
money on development schemes.

 

Equally, wananchi have contributed 101.2m/- equivalent to 0.70 per cent,
four councils have contributed 484.97m/- equivalent to 3.36 per cent,
central government 13.4bn/- equivalent to 92.97 per cent and contribution
from development stakeholders and donors is amounting to 428.8/- which is
equivalent to 2.97 per cent

 

Giving a breakdown, Mr Mapunda said the Uhuru Torch during its race in Rukwa
Region will inspect water projects implemented by The Rural Water Supply and
Sanitation Agency (RUWASA) valued at over 6.8bn/, road infrastructures
undertaken by the Rural and Urban Roads Agency (TARURA) worth 3bn/- and
education projects valued at 1.4bn/-

 

 

Others on the lists are health projects worth 15bn/- and agriculture,
livestock and fishery projects 15bn/

 

"During its race the Uhuru Torch will inspect and launch project for
empowering youths worth 104m/ - and environment projects valued 5m/-," he
added.

 

He further said that basing on the 2023 theme for Uhuru Torch race, which
emphasises on caring for the environment, protecting water sources among
others the region has implemented several projects.

 

"The Torch symbolises Tanzania inside and outside the borders as well as
motivating effective implementation of the development projects," emphasised
the DC.

 

Speaking after arriving in Rukwa Region the national leader of Uhuru Torch
race Mr Abdullah Shaibu Karim lauded the regional administration for
receiving them warmly.

 

The Uhuru torch is a national symbol in Tanzania depicting freedom,
equality, integrity, respect for human dignity, peace, hope and
strengthening union between mainland Tanzania and Zanzibar.

 

The lighting of the Uhuru torch was made on National Independence Day on 9
December 1961 by the first President Mwl Julius Nyerere and later taken to
the top of Mount Kilimanjaro as a symbol of national illumination.

 

The Uhuru torch aimed to enlighten and awaken the sense of nationalism, to
illuminate the nation by saying 'no' to poverty, inequality, illiteracy,
diseases, ethnicity and racialism.

 

Since then, the torch has been carried through the country every year from
March/April to October, passing through all districts to enhance development
activities.

 

To underscore its importance, the government budgets the cost for the
nationwide run under the president's office, which also appoints the
torch-running team and its leaders.

 

-Daily News.

 

 

 

Egypt-Sudan Trade Exchange Recorded $1.4 Bln. in 2022 - Capmas

Data from the Central Agency for Public Mobilization and Statistics (CAPMAS)
showed on Tuesday 29/8/2023 an increase in the value of trade exchange
between Egypt and Sudan to record $1.4 billion in 2022, compared to $1.2
billion in 2021, an increase of 18.7%.

 

The value of Egyptian exports to Sudan increased to reach $929.2 million in
2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of
Egyptian imports from Sudan reached $509.4 million in 2022, compared to
$385.6 million in 2021, an increase of 32.1%.

 

Among the most important commodity groups that Egypt exported to Sudan
during 2022

 

Fertilizers worth $159.3 million.

 

Plastics with a value of $123.8 million.

 

Mill products worth $75.5 million.

 

-Egypt Online.

 

 

 

 

Nigeria: Special Report - Ogun Farmers Count Losses As Oil Spills From
Vandalised Pipelines Destroy Farmlands

Many farmers in Ogun State have been forced to change occupations after oil
spillage caused by vandalism of NNPC pipelines destroyed their farmlands

 

Samsom Odeyemi wistfully recalls when he was a successful farmer in his
native community of Itajirin in the Ogere Remo area of Ogun State. Mr
Odeyemi earned millions of naira annually from his 15-hectare farm where he
produced rice, vegetable and pepper. All that was lost about six years ago,
when petrol started seeping into the farm from a vandalised pipeline of the
Nigerian National Petroleum Corporation (NNPC), now Nigerian National
Petroleum Company Limited.

 

 

The contamination quickly destroyed the farm and Mr Odeyemi now ekes out a
living by selling water in the community.

 

It was the same experience for Senanou Yaovi, whose seven-hectare maize and
pepper farm was gutted by fire after oil spewed into it about five years
ago, and Solaru Oluwole, a mother of five, whose farmland was also ravaged
by wildfire in April 2018 after it was polluted by petrol.

 

In Itajirin, many others also abandoned farming after oil spills destroyed
their farmlands. However, the experience is not peculiar to the Ogun State
community.

 

Intractable problem

 

Between 2015 to 2022, Nigeria's National Oil Spill Detection and Response
Agency (NOSDRA) recorded 4,440 combined oil spills. The spilt content (often
crude oil but in some cases like in Ogun State, refined products like
petrol) totalled 208,406.603 barrels. That is, about 1,257 tanker truckloads
of petroleum products spewed into the environment. Many farmers, like the
Messrs Odeyemi, Yaovi and Oluwole in Itajirin, have felt the direct impact
of the oil spills on their livelihoods.

 

 

The Group Chief Executive Officer of Nigerian National Petroleum Corporation
(NNPC), Mele Kyari, recently said the petroleum company loses about 200,000
barrels of oil to pipeline vandalism on a daily basis. Data also indicates
that apart from the economic sabotage, commercial farmers bear the brunt of
the criminality.

 

About 850 pipeline points were vandalised between 2015 to 2018, data from
the NNPC Monthly Financial and Operations Report (MFOR) states. The monthly
financial report also indicated that 1,161 pipeline points were vandalised
across the country between January 2019 and September 2020.

 

Five pipeline axes between Port Harcourt, Mosimi-Ibadan, Gombe, Kaduna and
Warri-River Niger were vandalised between January 2019 and September 2020.
The Port Harcourt axis of the pipelines recorded the largest share of the
damaged points with 538 points affected.

 

 

Closely following it is the Mosimi-Ibadan axis with 535 points damaged. 46
pipeline points were damaged in Gombe, 32 in Kaduna and 10 in Warri-River
Niger.

 

Nnimo Bassey, the executive director of Health of Mother Earth Foundation,
said a few thousand barrels of oil can destroy about 20 hectares of land. Mr
Bassey, whose foundation focuses on issues that affect the environment,
stressed that if oil spills persist in an area, it may lead to food
insecurity.

 

The Food and Agriculture Organisation (FAO) had projected that about 2.5
million people in Nigeria would face acute food insecurity during the June
to August 2023 lean season. A quarterly report released by the global
organisation shows that the figure projected is higher than the 19.45
million forecast in 2022.

 

The situation has been worsened by oil spills.

 

Mrs Oluwole told this reporter that the supply of cassava, yam and
vegetables has declined in the Ogere area of Ogun State in the last five
years.

 

"We do not have enough yam, vegetable and cassava in the market again
because many people have abandoned farming as a result of the oil spill,"
she said.

 

Oil spill

 

A pipeline of the NNPC runs across Wasan, Oke-pakala, Akonko, Shakara,
Belefun and Obelu areas of Ogere Remo, Ogun State. These communities are
largely dominated by farmers and fishermen but oil thieves frequently
vandalise the pipelines to siphon petroleum products.

 

The oil spills have contaminated the environment, including rivers. The
vegetation has turned pale and wild animals have fled the area.

 

Farmers are at the receiving end whenever oil thieves carry out operations
on the NNPC pipelines.

 

How it happened

 

Mr Yaovi recalled how his seven-hectare farm of maize and pepper farm was
burnt.

 

"I was at home when one of my boys, who went to the farm to monitor what we
planted, came back home to tell me that the whole farm had been burnt," he
said.

 

"On the seven hectares, we planted maize and pepper, so you can imagine what
we lost," he added.

 

Unlike Mr Odeyemi who took to selling water after losing his farm, Mr Yaovi
could not think of any other business than farming, so he moved to another
community.

 

On the new farmland that he rented, Mr Yaovi cultivates rice, beans, maize
and watermelon. But he has encountered another problem.

 

"All the things I planted there are not doing well because of pests."

 

He appealed to the government agencies in the agricultural sector to assist
him and other farmers whose businesses have been affected by the oil spills.

 

Explosion

 

In July 2018, Olalekan Ayinla was at his fish farm, in Ogijo, Ilara area of
Ogun State, when he heard an explosion from a nearby pipeline that had just
been vandalised by oil thieves.

 

The pipeline that passes through Ilara is about a one-hour walk from Mr
Ayinla's fish farm but the contamination from the explosion killed all the
fish.

 

"When I heard the explosion I hurriedly left the farm because I was not sure
what had happened. The fire raged everywhere and my farm was not spared," he
said.

 

Solution

 

To check incessant pipeline vandalism, the Nigerian government has deployed
different security outfits including the police and the civil defence
(NSCDC). However, the crime still persists in many states such as Ogun.

 

Environmental advocates say to stop pipeline vandalism, the government must
shift focus from oil production and transition to renewable energy.

 

Mr Bassey and Mayokun Iyaomolere, an environmental activist, also called on
the government to compensate victims of oil spills.

 

On his part, Mr Iyaomolere said technology offers the best protection of
pipelines from vandals.

 

"The best way to protect the pipelines I think is to have some technology
innovations that will help to monitor these pipelines such that if any
illegal activity is going on there will be live coverage or something that
will transmit a signal to a headquarters where it can be quickly monitored
and the local forces will be quickly directed," he said.

 

This reporting was done with the support of the Centre for Journalism
Innovation and Development.

 

-Premium Times.

 

 

 

 

Liberia: Technical Issues Disrupt Electricity Token Vending in Liberia

Monrovia — The Liberia Electricity Corporation (LEC) has been grappling with
technical challenges on its Libango vending platform over the past four
days, leaving customers without access to electricity tokens. This
disruption has affected various purchasing methods, including Libango
vendors and popular digital platforms such as MTN Mobile Money, Orange
Money, TipMe, and the Ecobank Mobile App.

 

To address the inconvenience faced by its customers and ensure continued
access to electricity, LEC has taken immediate action. Temporary vending
points have been established at strategic locations including the Waterside
Headquarters, Bushrod offices, and the Anti-Power Theft campaign site at
Duport Road. This emergency measure was put in place on Sunday and will be
expanded as needed until the issues with Libango's platform are completely
resolved and regular vending services are restored.

 

 

In addition to the existing temporary vending points, LEC is actively
working to minimize customer travel and waiting times. Plans are underway to
establish more accessible locations to better serve customers efficiently.
Simultaneously, LEC is exploring alternative options such as mobile money
operations and banking platforms to further enhance the customer experience.

 

The corporation is committed to keeping the public informed about additional
vending locations and alternative payment methods as soon as they become
available. Updates will be communicated through various channels, including
news media, the LEC website, and the corporation's social media platforms.

 

While addressing the current challenges, LEC is working diligently alongside
Libango to expedite the restoration of normal vending operations. The
corporation acknowledges the inconvenience caused by these technical issues
and extends a sincere apology to its cherished customers.

 

LEC says it remains dedicated to providing reliable electricity services to
the people of Liberia and is taking every necessary step to rectify the
situation swiftly.

 

-FrontPageAfrica.

 

 

 

South Africa: Prasa Promises Full Service On Cape Town's Northern Line By
December

"Our people have suffered enough since trains have stopped working" says
unionist

 

Trains would run all the way from Cape Town to Muldersvlei and Strand by the
end of the year, PRASA CEO Hishaam Emeran promised on Wednesday.

The trains on those parts of the Northern Line have not been running since
2019.

Though passenger trips on Cape Town's lines had risen 200% since the
beginning of the year, "we are nowhere near where we should be," he said.

The full train service on Cape Town's Northern Line will be restored by the
end of the year, the Passenger Rail Agency of SA (PRASA) promised on
Wednesday.

 

 

CEO Hishaam Emeran took public servants, union representatives and media on
a visit from Cape Town to Eerste River where the line branches to
Muldersvlei and Strand. Trains on the Northern Line to Strand, Stellenbosch
and Muldersvlei were last operational in 2019.

 

He said the line would be open in November. "We want this line to be
operational by the end of the year," he said.

 

In March 2022 Metrorail resumed train services on the Northern Line from
Bellville to Cape Town and a partial service was introduced between Eerste
River and Bellville in January 2023. Metrorail said then that there had been
significant damage to the Northern Line due to vandalism during Covid.

 

Emeran said since January passenger numbers on Cape Town lines had risen by
200%, though from a low base. "We can see that people are returning."

 

 

"While there has been a sharp increase this year, we are nowhere near where
we should be. We were transporting 750,000 passengers per day or passenger
trips; now we are transporting about 50,000 daily. We are still running on
low frequency, running [every] 45 minutes in the peak. We need to get that
service to 10-15 minutes in the peak period."

 

He said once the signalling system had been overhauled, trains could run
more frequently. "We can then operate safe trains every 5 or 10 minutes. At
the moment the team in operation is using manual authorisation."

 

In an interview with GroundUp, Emeran said PRASA's capital budget for the
year for the country as a whole was R12.9-billion, up slightly from
R12.5-billion the previous year.

 

"Last year for the first time in more than a decade we spent our capital
budget. This year we want to ensure we spend our budget again, because
that's what is going to bring a modernised railway system."

 

He said the budget included new trains, corridor recovery (restoring train
services on each line), depot modernisation, station refurbishment and an
overhaul of signalling in Cape Town.

 

"We have already invested R800-million on corridor recovery, R600-million on
the Central Line."

 

Emeran said the Salt River and Paarden Eiland depots were being secured with
CCTV and security technology to house new trains, which are worth
R150-million each.

 

South African Transport and Allied Workers Union representative Phumeza
Yata, who lives in Stellenbosch, said: "I am here to hear from PRASA
management themselves if this line is really going to open in November. Our
people have suffered enough since trains have stopped working. Going to Cape
Town from Strand by taxi is R35, R70 return. A train ticket is R26 return."

 

"Many people lost their jobs because they didn't have money to travel to
Cape Town. Spending R500 per week is too much for our people who have
low-paying jobs."

 

In a statement on Tuesday, PRASA said trains were running on the Central,
Southern and Northern corridors and were now stopping at 88 out of 121
stations in the province. "Five corridors have been earmarked for recovery
in this financial year - Nyanga to Philippi; Philippi to Chris Hani; and
Philippi to Kapteinsklip; Bellville to Strand; and Cape Town to Muldersvlei,
and we are making steady progress in recovering these lines."

 

-GroundUp.

 

 

 

South Africa: Harmony Gold's Annual Earnings Soar As Mponeng, World's
Deepest Mine, Delivers

The sun may be setting on South Africa's gold industry, but 3.8km below the
surface, Harmony Gold is hitting pay dirt. The company's full-year earnings
soared by 60%, lifted by higher prices and a significant increase in grades
at Mponeng, the world's deepest mine, where Harmony may yet go further
underground.

 

Harmony bought Mponeng, the world's deepest mine which extracts gold as far
down as 3.8km, from AngloGold Ashanti in early 2020 for $200-million.

 

It has not had any buyer's remorse and the acquisition had already paid for
itself by last year.

 

 

Harmony unveiled a 60% surge in full-year headline earnings on Wednesday to
800 cents per share, resulting in a final dividend of 75 cents per share.
Mponeng played a starring role on this stage, with a staggering 16% increase
in recovered grades, leading to a 22% rise in production to almost 240,000
ounces.

 

"We expected to go into the higher-grade parts of the mine two or three
years after we bought it," Harmony CEO Peter Steenkamp told Daily Maverick.

 

Overall, group earnings climbed by 14% to R47.5-billion, while overall,
grades increased by 8%. Combined with a 15% spike in the average gold price
received to $1,808 an ounce, the end result was a flow of cash to the
company's bottom line. This has bucked the trend among South African mining
companies, notably in the PGM space, which have generally reported a
significant fall in earnings this year.

 

Debt was slashed by more than R2-billion to leave net debt at...

 

-Daily Maverick.

 

 

 

 

South Africa: Swellendam Residents March for Cheaper Electricity

This comes two weeks after the town was brought to a standstill with violent
protests

 

Several hundred people marched through the streets of Swellendam on
Wednesday complaining about electricity prices.

Earlier this month a protest turned violent, with a municipal building
torched, and shops looted.

The residents' main demand is for the Swellendam Municipality to reduce the
electricity tariffs and for pensioners to be given free units. Another
concern was the lack of adequate sanitation and other infrastructure in
informal settlements.

The mayor has promised to personally meet with community leaders and respond
to the residents' demands.

 

Several hundred people braved the heat to march to the Swellendam Municipal
Office on Wednesday, 30 August. They were protesting against high
electricity tariffs as well as a lack of sanitation and infrastructure in
informal settlements.

 

The march follows a protest that turned violent two weeks ago that brought
the small town to a standstill and saw a municipal building torched and
shops looted.

 

Protesters sang struggle songs as they made their way through the town to
hand over their memorandum of demands to the mayor. Many businesses shut
their doors for the morning as a precaution, but the march went off without
any incidents.

 

The memorandum read: "We are a collective of different cultures, workers,
and ordinary people in the Swellendam municipal area and stand firmly to
express our anger, frustration and disappointment at the lack of resources
and solutions offered by the Mayor, DA and FF+ councillors."

 

Among their demands is for the municipality to revise its current
electricity tariff and indigent policy. They want pensioners to
automatically be given rebates which must include free units, and they want
fixed charges to be waived for pensioners. They also demanded that
electricity be supplied to all areas.

 

Resident Riaan Jonas said the Swellendam electricity tariff hikes were the
highest in the Western Cape. He said the violent protest earlier this month
had been sparked by the increases as well as by the change in policy at the
beginning of July. He said indigent households no longer automatically got
free units but had to apply.

 

"That is the unhappiness here," he said.

 

The National Energy Regulator of South Africa (NERSA) granted Eskom a 18.65%
tariff hike earlier this year to help it cover its debt. Consumers are now
feeling the the hike, as electricity bills have become unaffordable
particularly for poor households.

 

Jonas said the lack of sanitation facilities was another major problem. He
said the protesters would give the mayor seven days to respond.

 

Another protester, Stanley Dleleweni, said: "The mayor had implemented a
policy of 2021 that anyone staying in informal settlements must receive free
units. They changed that policy without the community and that is why we are
here. Some of the other issues are the sanitation and poor infrastructure in
the informal settlement. We never see any progress in the informal
settlement."

 

He complained of dirty tap water and inadequate drainage.

 

Mayor Francois du Rand accepted the memorandum and thanked the community for
their orderly action.

 

"Sorry that you have to stand here in the sun, I think everyone's hot and
thirsty. I accept this memorandum from the community. I will be the
designated person engaging with your representatives.

 

"The indigent policy should be for people who qualify. That is what it's
there for, for the people that cannot pay their municipal bills," he told
the crowd.

 

Member of the Western Cape Provincial Legislature and ANC provincial
spokesperson Muhammad Khalid Sayed told protesters he would take up the
issues they had raised in the provincial legislature.

 

GroundUp visited an informal settlement known as Plakenspark, where some of
the protesters live. We saw piles of uncollected rubbish, broken toilets and
overflowing sewage.

 

-GroundUp.

 

 

 

 

Kenya Pipeline Completes Takeover of Changamwe-Based Kenya Petroleum
Refineries Limited Facility

Mombasa — The government has concluded the transfer of the Kenya Petroleum
Refineries Limited (KPRL) to Kenya Pipeline Company (KPC), Energy and
Petroleum Cabinet Secretary Davis Chirchir has announced.

 

Chirchir said the takeover will help improve the utilization of the assets
of KPRL, which closed down its Changamwe refinery in 2014 after it became
uneconomical to run the operations at the facility.

 

The Energy CS who spoke in Mombasa on Wednesday explained the KPRL facility
became unprofitable after it failed to match the required output.

 

KPRL assets, which sit on a 370-acre parcel of land have been idle for the
past nine years, and on July 18, President William Ruto's Cabinet approved
the acquisition of KPRL by KPC through transfer of shares.

 

 

"Acquisition by transfer of shares basically is like saying one fully owned
government parastatal takes ownership of another parastatal because they do
the same business," said Chirchir.

 

Sh150bn balance sheet

 

Speaking after a meeting with Mombasa Governor Abdulswamad Nassir, KPRL
management and a section of the county's political leadership, the Energy CS
said Kenya Pipeline comes with a strong balance sheet of over Sh150 billion.

 

"And with a strong company coming in to take KPRL, we can be able to see
once again activities of recreating the economy in Mombasa and creating
employment," said Chirchir.

 

He said they will be working with the county government of Mombasa to revamp
KPRL assets in order to work for the people of Mombasa County.

 

 

"We want KPRL to work for the people of this country, to work for the region
because we are internationally situated to be able to serve Uganda, serve
Rwanda, and even play a competitive advantage against our neighbours in
Tanzania," he said.

 

Chirchir assured that no employee will lose their job with the takeover.

 

"Nobody is losing jobs. We had PwC doing a study to confirm which was the
best acquisition option, and we've zeroed in on the acquisition by transfer
of shares as opposed to transfer of business," he said.

 

"We'll be talking to the staff of KPRL to assure them that they are in safer
hands."

 

He said however KPRL employees had already started working with KPC through
a lease agreement where KPC has been using the tank at KRPL for the storage
of petroleum.

 

No job losses

 

"They have rehabilitated most of those tanks and they are being used today
by KPC. Why do we need KPC to leverage the asset of KPRL? The leadership
today would like to accelerate the use of LPG gas, as a transitional fuel to
mitigate the challenges of climate change," he said.

 

He said Kenya will be hosting the Africa Climate Change Summit next week
whereby more than 30 presidents and heads of state will be coming into the
country.

 

"Some of the quick wins for us would be really to look at how do we
accelerate the pushing of LPG to the economy and reduce the use of fuel,
wood fuel, or what you call biomass," he said.

 

Governor Nassir said one of the issues that has been raised is whether there
will be job losses if KPC takes over the assets of KPRL.

 

"Issues that were being raised is whether the people who are currently
employed by KPRL will be affected in any way, and the CS has been able to
confirm that not only will they not be affected, but as a matter of fact
there will be more employment opportunities," said Nassir.

 

He said as leaders they also want the locals to benefit when the new master
plan for KPRL is unveiled.

 

"When the master plan is ready, we want the people of Mombasa to be able to
benefit from more job opportunities. Equally, the people of Mombasa to be
able to benefit from the CSRs," he said.

 

Others present during the meeting were KPC managing director Joe Sang, KPRL
acting CEO Joseph Ndoti and a section of Mombasa MCAs.

 

-Capital FM.

 

 

 

Kenya: Data Commissioner Kassait on the Spot for Endorsing Worldcoin
Activities

Nairobi — The Office and Data Protection Commissioner (ODPC) has been put on
the spotlight for issuing Tools for Humanity, a firm under which Worldcoin
operated, a certificate of registration outside the legal framework.

 

The State Law Office made the revelations on Wednesday when Attorney General
Justin Muturi appeared before an Adhoc committee of the National Assembly
investigating Worldcoin activities in Kenya.

 

The Department of Justice told lawmakers Worldcoin, operating as Tools for
Humanity, was not licensed to operate in the country as required under the
Companies Act.

 

 

"Worldcoin is not registered as a company for whatever purpose in Kenya. An
application for registration must be accompanied interalia by a company of
establishment documents. The establishment documents include a registration
certificate," Muturi said.

 

The move to by Data Commissioner Immaculate Kassait to issue Tools of
Humanity Cooperation a certificate was cited as a glaring omission on the
part of ODPC.

 

"It is to be observed Mr Chairman that for a foreign country to operate and
collect data in the country, the company is required to furnish its
establishment document to the data commissioner," said Muturi.

 

The Department of Justice further noted that of eleven local companies that
were working as agents of the Worldcoin Project, only one was registered.

 

Sense Marketing, one of the local agents, was registered s a firm operating
along Langata-Kitengela Road with one shareholder identified as Kevin
Ondumbe.

 

 

Protocol breach

 

MPs questioned why ODPC moved to issue the certification of registration to
the American Firm despite them failing to adhere to companies act
regulations.

 

"Essentially a Data Commissioner can't register unless the documents given
to her are document confirming its registration," Homabay Town MP Peter
Kaluma onserved.

 

"Will I be right to say that Tools for Humanities was not correctly
registered in the country and so can we conclude that all activities by the
firm in Kenya are completely illegal and therefore very strong legal action
should be taken against its associates?" Mbeere North MP Geoffrey Ruku
posed.

 

"Who is responsible in this case on checking the compliance? Where does the
mandate of Registrar of Companies start and where does the mandate of the
Data Commissioner start?" Nominated MP Umulkheir Harun queried.

 

 

Principal State Counsel Karen Ndegwa noted that a certificate of business
registration was a prerequisite for any firm seeking clearance by the Data
Commissioner.

 

"As a foreign company before you embark for certificate processing from the
Data Commissioner you must have sought the certificate of business
registration system seeking to be compliant with the Kenyan law," Ndegwa
said.

 

The new revelations emerged a day after the National Computer and Cybercrime
Coordination Committee warned that the online recruitment for Worldcoin
project might be ongoing despite a suspension order by government.

 

Unclear motive

 

Appearing before the National Assembly Adhoc Committee, the agency's Head of
Cyber-security Standards and Policy David Njoka called for speedy
investigations to establish the real motive of Worldcoin proponents given
the sensitivity of the data they mined from Kenyans.

 

"This raises national security concerns given that Kenyans are exposed to
external threats from a foreign entity hence the need to protect Kenya's
national interest and protection of citizens," said Njoka.

 

He made the statement even as he cast doubt on the safety of data captured
by the Worldcoin Project after it emerged that it was stored in Amazon Web
Services in the United States.

 

Njoka recommended that the Ministry of Interior and National Administration
to demands the preservation of the data already collected to enable
technical assessment of the infrastructure used in the collection,
transmission and processing of data.

 

"In the event that Worldcoin is in breach of terms and conditions of their
registration they should be investigated, prosecuted and issued with
administrative fines and other legal sanctions," he said.

 

Kenyans registered the highest subscriptions to the Worldcoin cryptocurrency
project out of thirty-four countries where similar operations were mounted.

 

The American firm recruited agents deployed across thirty stations in
Nairobi to scan and collect iris data for transmission.

 

Njoka explained that Worldcoin disguised itself as a research institution
before escalating its activities of data processing exposing gullible
Kenyans.

 

"A week after the launch of Worldcoin cryptocurrency on 22nd of July, they
announced that they have registered over 350,000 Kenyans and in terms of the
numbers of data registered globally," Njoka said noting that entries by
Kenyans amounted to 25 per cent of the overall data collected.

 

8 billion target

 

Worldcoin had targeted to register 8 billion people in the cryptocurrency
platform that aims to provide universal global economy by authenticating
individual using retina/iris scans.

 

In Kenya, the firm operated through local representatives identified as
Wangechi Maina and Rael Mwende after legal agreements with their local firms
listed as Platinum De Plus Limited, EXP Kenya and Sense Marketing.

 

Worldcoin offered those who signed up 25 free tokens worth about Sh7,000,
drawing thousands of people to multiple sign-up points in the capital
Nairobi.

 

Thousands of Kenyans flocked to Kenyatta International Conference Center
Nairobi mid July to have their eyes scanned.

 

The project, according to its founders, aims to solve one of the main
challenges facing the crypto industry that largely relies on pseudonyms to
operate, leaving it vulnerable to spam bots and scams.

 

More than 2.1 million people have signed up for Worldcoin across the world,
with iris scans conducted in 34 countries, according to the company's
website.

 

Worldcoin is now trading at $2.37, up from the initial price of $1.70,
according to CoinMarketCap.

 

-Capital FM.

 

 

 

 

Kenya Joins Efforts to Have Free Trade Area Across All African Countries

Kenya has joined the conversation on efforts to have free trade area across
all African countries which is anchored on spurring economic development in
Africa by unlocking its manufacturing potential through industrial parks and
open borders.

 

The government says its keen on championing the conversation for a
borderless Africa factor it says has for a long time hindered the
development of A prices.

 

Speaking during a road trip meeting for the African Trade Fair slotted for
November 9 in Egypt, Trade Principal Secretary who represented Trade and
Investment Cabinet Secretary Moses Kuria averred that there is need to
support the capability of the private sector for favorable competition in
international trade.

 

 

"From the outset the issue of support and facilitation are things that need
to e streamlined hopefully we will be able to address them a bit better as
far as advancing inter Africa trade is concern," he said.

 

Africa Eximbank which is the key financier of the forum have observed that
currently Africa has 48 currencies which is hindering trade between
countries, calling on African leaders to clamp down their currencies and use
a single currency for their transactions.

 

"The ideal situation would be using one currency across the continent's
francophone West Africa already. This will however take time, "said the
bank's Vice president Denys Denya.

 

He added that inter African trade will drive African development adding that
plans are already in place to construct special economic zones and
industrial parks to spur value addition.

 

"The next step is to convert those raw materials into finished products that
your neighbors require. We have invested 20 billion and are seeking to
double it by 2026," added Denya.

 

For Kenya, the Bank has invested 3 billion dollars towards the industrial
parks.

 

-Capital FM.

 

 

 

Country Garden: Debt-laden China property giant in record loss

Country Garden, one of China's biggest property developers, has become the
latest real estate giant to warn that it could default on its debts.

 

This came as the crisis-hit company reported a record $6.7bn (£5.2bn) loss
for the first six months of the year.

 

Country Garden said in the statement that it was "deeply remorseful for the
unsatisfactory performance."

 

The announcement adds to concerns about the post-pandemic recovery of the
world's second largest economy.

 

Country Garden also announced it had missed interest payments on bonds that
were due this month. However, it added it was still within a 30-day grace
period to make the payments.

 

It is also reportedly seeking to extend a deadline for the repayment of
another bond.

 

The firm warned that it could default on its debts "if the financial
performance of the group continues to deteriorate in the future".

 

"The group might not be able to fulfil the financial covenants of these
borrowings, which may result in default in these borrowings and
cross-default in certain other borrowings," Country Garden said in a
regulatory filing in Hong Kong.

 

Earlier this month, the company warned that it could see a loss of up to
$7.6bn for the first six months of the year. The record loss was at the
bottom end of a 45bn yuan ($6.2bn; £4.9bn) to 55bn yuan estimate issued by
the company.

 

Country Garden shares were trading around 1% higher in Hong Kong on Thursday
morning.

 

Problems in China's property market - which includes everything from
building homes to industries making the goods that go in them - is having a
major impact as it accounts for around a third of the economy.

 

China's real estate industry was rocked when new rules to control the amount
of money big real estate firms could borrow were introduced in 2020.

 

Evergrande, which was once China's top-selling developer, racked up debts of
more than $300bn as it expanded aggressively to become one of the country's
biggest companies.

 

Its financial problems have rippled through the country's property industry,
with a series of other developers defaulting on their debts and leaving
unfinished building projects across the country.

 

At the weekend, Evergrande posted a 33bn yuan loss for the first six months
of the year.

 

Its shares fell by almost 80% on Monday, in their first day of trading in
Hong Kong for a year and a half.

 

Evergrande shares have lost more than 99% of their value in the past three
years as Beijing cracked down on property firms.

 

China is also facing other problems - including weak economic growth,
ballooning local government debt and record-high youth unemployment.

 

On Thursday, official data showed that activity in China's factories shrank
for a fifth month in a row.

 

The Purchasing Managers' Index came in at 49.7 in August. It was an
improvement from the previous month, but still below 50, indicating
contraction.-bbc

 

 

 

 

Pass AI law soon or risk falling behind, MPs warn

The prime minister's plan for the UK to take the lead in AI regulation is at
risk unless a new law is introduced in November, MPs have warned.

 

The EU could overtake the UK in efforts to make AI safe unless action is
taken, ministers on the Commons Technology Committee said.

 

The UK will host an international AI summit at the start of November.

 

The government told the BBC it is willing to consider further steps if
needed.

 

But it did not reveal if it agreed that a new law should be put forward so
rapidly. Instead, a spokesperson highlighted the summit and a £100m initial
investment in a task-force to encourage the safe development of AI models.

 

That is "more funding dedicated to AI safety than any other government in
the world", the UK government said.

 

If legislation isn't introduced in the King's Speech on 7 November, the
earliest legislation could become law in 2025, the committee says in a
report published Thursday.

 

The report argues not bringing in legislation for two years risks the UK
"being left behind by other legislation—like the EU AI Act—that could become
the de facto standard and be hard to displace".

 

The situation could mirror data protection rules, where UK laws followed the
EU lead, the report argues.

 

But although the government's white paper on AI regulation has recognised a
new law may be needed at some point, Rishi Sunak has previously argued that,
initially, "we can probably do lots of this without legislation".

 

A key part of his plan is the November summit which the government says will
be the "world's first major global summit on AI safety".

 

The committee argued as wide a range of countries as possible should be
invited, which would include China.

 

Imitation game

The report also highlights twelve "challenges" that the UK government must
address, including:

 

Employment: AI systems will replace some jobs and the economic impact of
this will need to be addressed

The use of copyrighted material to train AI systems is also one of the
challenges.

 

So-called generative AI systems can now create new works in the style of
famous artists, actors and musicians.

 

But to pull off this feat AI is trained on huge amounts of copyrighted
material. Many authors, actors, artists and musicians argue that AI should
not be trained on their works without permission and compensation.

 

There are already steps to develop a voluntary agreement that would allow AI
firms access to copyrighted works, while at the same time supporting
artists, the report notes.

 

A planned exemption to copyright for AI firms was abandoned by the
government in February.

 

AI's power to imitate people could also be used to spread misinformation, or
to commit fraud, or to fool bank voice-recognition security systems, MPs
said.

 

No failsafe

The report follows a warning on Wednesday from the National Cyber Security
Centre, which said that large language models - a type of AI that powers
popular chatbots - could not be protected from certain types of attacks
designed to persuade them to do malicious things. There were at present "no
failsafe measures" that would remove the risk, the centre wrote.

 

MPs broadly supported the government's approach to keeping AI safe which
does not require the creation of a new AI regulator, but instead passes
oversight onto existing regulators depending on what the AI does.

 

Some who spoke to the committee, including Hugh Milward of Microsoft UK,
preferred this approach to that of the EU which he told the committee was "a
model of how not to do it".

 

But he has also previously told the BBC that care needs to be taken with any
UK legislation too. There was a danger that a single piece of legislation
tried to do everything "and then it becomes a bit like a Christmas tree and
everybody tries to hang their own personal issues on it", he said.-bbc

 

 

 

 

GDP: Why India's soaring food inflation is a global problem

Erratic climate conditions - including the driest August in more than a
century - have sent food prices spiralling above 11% in India, which is a
major player in global agri-trade.

 

Just as tomato prices begin cooling down, onions have gotten dearer by a
quarter since June in the domestic market. And pulses which go into making
the humble dal (lentil soup) are now around 20% more expensive than at the
beginning of the year.

 

India's got a "curry problem", some economists say, as the cost of a regular
vegetarian meal jumped by a third in the month of July alone.

 

With some key state elections this year and a big general election looming
next summer, the Indian government has swung into action, unleashing a
number of measures to tame food inflation.

 

Following a ban on wheat in May 2022, India announced an abrupt stop to
non-basmati white rice exports last month. More recently, the finance
ministry imposed a duty of 40% on onions to discourage exports and improve
domestic supplies.

 

With sugar production expected to be lower this year, "the likelihood of a
ban on sugar exports has also increased", according to Rajni Sinha, chief
economist at CareEdge Group.

 

The government could step up its response with further measures going ahead,
analysts say. For instance, since the consecutive export restrictions on
rice have not yet lowered domestic rice price inflation, "the government
could seek a more comprehensive ban", global brokerage Nomura said in a
recent note.

 

So does India, with its aggressive defence of domestic prices, run the risk
of exporting food inflation to the world?

 

The International Food Policy Research Institute (IFPRI) believes it does,
particularly with rice, sugar and onions. Over the past decade, India has
emerged as the world's largest exporter of rice - it holds a 40% market
share - and second largest exporter of sugar and onions.

 

The United Nation's Food and Agriculture Organization's (FAO) Rice Price
Index jumped by 2.8% in July - its highest level since September 2011 -
driven mostly by price increases in the Indica variety of rice whose exports
India banned. This has amplified the "upward pressure" on the prices of rice
from other regions, the FAO said.

 

"Since the ban was announced late last month, Thai rice prices have
increased 20%," Joseph W Glauber, senior research fellow at IFPRI, told the
BBC.

 

The impact of this - particularly on the world's poor - could be devastating
with food insecurity deteriorating in 18 "hunger hotspots" identified by the
FAO and UN's World Food Programme.

 

Rice is part of the staple diet accounting for a large share of the caloric
consumption of millions across Asia and Africa. And India is a major
supplier to these markets.

 

Forty-two countries in Asia and Sub-Saharan Africa get 50% of their total
imports from India, going up to 80% in some countries according to IFPRI,
and its share cannot be "easily substituted with imports from other large
exporting countries such as Vietnam, Thailand or Pakistan".

 

Elevated global food prices could also have other implications in these
countries such as keeping food import bills high, leading to the use of
precious foreign exchange, "thus worsening balance of payment problems and
contributing to inflation", says Upali Galketi, senior economist at the
markets and trade division of the FAO.

 

But the increase in global food prices cannot be blamed singularly on
India's actions. The termination of the Black Sea Grain Initiative after
Russia's invasion of Ukraine and extreme climate conditions across the world
are other major contributing factors.

 

What was the Black Sea grain deal?

Consumers and sellers as seen at a vegetable market in Kolkata , India , on
12 July 2023 . Spiraling prices of tomato, onion and pulses are emerging as
new risks that is fueling India's retail inflation to 4.6 % in June ,The El
Nino influence paired with reducing WPI on retail inflation has made the
situation worse for consumers according to finance ministry reports.

 

 

The coming together of these market dynamics, however, has "resulted in
reversing the declining trend in international food prices observed since
the middle of last year", Mr Galketi told the BBC.

 

Global food prices are at historical highs despite a slowdown in many parts
of the world such as China. This is weighing on international food prices
because of muted demand from these places.

 

The World Bank expects its food price index to average lower in 2023
compared with 2022, driven by lower oil and grain prices. But analysts say
the future price trajectory will depend on the impact of El Niño weather
phenomena - something that could have far-reaching implications, and put
further pressure on food markets.

 

Amid the uncertainty, calls for India to reverse its ban on the export of
key commodities have come from various quarters, including the International
Monetary Fund.

 

Besides contributing to global food inflation, "export bans have other
negative externalities, such as denting India's reputation as a dependable
supplier and preventing farmers from benefiting from remunerative prices
globally", say analysts at Nomura.

 

"Trade restrictions could also exaggerate boom-bust price cycles. For
instance, higher inflation in pulses in 2015-16 led India to significantly
increase imports, but normal monsoons and stronger domestic production in
subsequent years led to a supply glut and prices crashed into deflationary
territory through 2017-18."

 

Others like Mr Glauber warn that "importers may choose to find other more
reliable partners if the benefits of diversifying suppliers outweigh price
considerations".

 

But according to the FAO, the most significant threat comes from the
likelihood of more countries resorting to export restrictions, which would
"undermine trust in the global trading system".

 

However, some say realpolitik and a resolve to increase food
self-sufficiency will outweigh these other considerations in India,
especially during a politically sensitive period.

 

In the past, high prices of crops such as onions have led to electoral
defeats in India; add to that an already wobbly consumption recovery. Higher
cost of food, which makes for a big chunk of an average Indian's expenses,
can eat into discretionary incomes ahead of the upcoming festive season, and
derail this recovery further.

 

India's central bank has already raised interest rates six times, and can do
little more to control food inflation given that it is a supply-side
problem.

 

So the government is left with little ammunition apart from imposing trade
restrictions.

 

"All countries right now are focused on controlling inflation in their own
economies. I would say India also has to take care of its own interests
before it starts worrying about global inflation," says Ms Sinha.-bbc

 

 

 

 

Lego sees profits fall as pandemic boost fades

Toymaker Lego saw profits fall in the first half of the year as the bumper
sales growth seen during the pandemic starts to fade.

 

The Danish company performed exceptionally well during lockdowns as
households stocked up on toys and games to keep them occupied at home.

 

However, revenues have since stalled, with sales up just 1% in the first
half of the year.

 

Profits at the toymaker dropped 17.7% to 5.5bn Danish kroner (£634m; $807m).

 

The company had pinned its hopes on China, with its burgeoning middle-class
who are eager to buy Western products.

 

Lego opened 58 stores in the first half of the year in China, as the world's
second largest economy began its big reopening as covid-related restrictions
were lifted across the country.

 

However, sales in the country have not been as strong as expected.

 

Lego pulls out of Russia 'indefinitely'

"The return to more normal conditions, where people go into stores and spend
again, has been slower in China than what we anticipated," Niels
Christiansen, chief executive officer of Lego said.

 

Despite the slow start, China remains a "long-term growth" target for Lego,
with more store openings in the pipeline.

 

The company already has large flagship stores in Shanghai and Beijing.

 

Lego is also building two new factories in Vietnam and the United States
that will open in 2024 and 2025 and will be expanding its existing plants
across the world.

 

It is planning on spending more on sustainability as well after coming under
pressure about the amount of plastic used in its products.

 

The company has pledged to triple spending over three years as it looks to
eliminate plastics that come from fossil fuels.

 

Mr Christiansen said the fall in profits had been due to higher raw material
costs and more money being spent on factories. Despite the fall, Lego
remains the world's leading toymaker.

 

Much of its success is attributed to the Star Wars and Lego Icons franchises
alongside its flagship products.

 

It marks a big turnaround after the toymaker ran into hard times in the
2000s, as sales plunged while it racked up a huge stockpile of debt. At the
time, analysts felt the company was overly reliant on its legacy products
and had not added any exciting new lines to its portfolio.

 

The unlisted company, still wholly owned by the Christiansen family,
recovered by focusing on franchises and films in particular Lego Batman,
Harry Potter and Ninjago.

 

For grown-up children it introduced Lego Architecture with replicas of the
Guggenheim museum, Burj Khalifa skyscraper and Robie House which helped
broaden their target market. It also branched out by introducing the "Mini
Doll".

 

The products were helped by the success of the Lego movies and theme parks
across the world.-bbc

 

 

 

Families worried about expenses after flights axed

With thousands of UK holidaymakers having their flights home cancelled in
recent days, many are worried if their extra costs will be reimbursed.

 

Families have reported forking out for food, accommodation and in some
cases, alternative travel, due to the chaos.

 

Rules exist for expenses to be claimed, but there appear to be some grey
areas.

 

Figures suggest almost 2,000 flights to and from the UK have been cancelled
due to a data glitch which hit the UK's air traffic control system.

 

National Air Traffic Services (Nats), which controls most aircraft in UK
airspace, said a "rare" system failure on Monday led to hundreds of flights
being cancelled.

 

The Baker family are among thousands of holidaymakers who have been
affected.

 

Mark and Holly, along with their two children, were stranded in Palma,
Majorca, when their EasyJet flight home to Brighton was cancelled on Monday.

 

They told the BBC they were offered accommodation and a new flight in a
week's time, but due to work and one of their daughters starting secondary
school, they could not wait that long.

 

Instead, the family embarked on an overnight ferry from the Spanish island
to Toulon in France, where they are hoping to take three trains and another
ferry to get back to Brighton by Thursday night.

 

Mr Baker said he was unsure if they would be able to claim for the
alternative travel. Excluding food costs, the family of four has forked out
just under £1,000 so far on credit cards.

 

"I didn't see I had any choice," said Mr Baker. "When you're standing there
at the airport at 11 o'clock at night, with kids, and you don't know what
you're supposed to do.

 

"I don't know if I'm going to get this money back. That's my worry," added
Mr Baker.

 

He said the family was being conscious on the amount they were spending on
food and accommodation, given the guidelines around claiming costs stating
they need to be "reasonable".

 

Couple says traffic control glitch cost them £2,200

Mr Baker said he had tried to get in contact with EasyJet on the phone but
could not speak to any staff member and so was keeping all of his receipts
in the hope of claiming the money back.

 

"I'm trying to keep my costs down just in case. I'm not going to take the
Mickey," said Mr Baker.

 

Another family from Greenwich, London, told the BBC that they are currently
stranded in Turkey after their EasyJet flight from Antalya to Gatwick was
cancelled on Monday.

 

Samina Ahmed is a school administrator and is missing out on work and a
training course because of the delays.

 

The family are are currently staying in a hotel about 25 minutes away from
Antalya airport, provided by EasyJet

The earliest flight home EasyJet initially offered the family was on 8
September - two days after her sons are due to return to school.

 

They were in Turkey for a family holiday but Samina, who is 17 weeks
pregnant, feels "overwhelmed". She also says she has run out of medication
she needs to take for her blood pressure.

 

She says she is aware of another family who have rebooked a flight with a
different company, but is worried she would not be reimbursed: "I just don't
have that kind of money lying around," she said.

 

EasyJet has since offered Samina's family a flight back on 4 September,
which she says is still too late.

 

What are my rights if my flight is cancelled or delayed?

EasyJet apologised for the disruption in a statement and said that it was
providing customers with "assistance and hotel accommodation".

 

It added it was "advising anyone who has needed to make their own hotel or
alternative travel arrangements that they will be reimbursed".

 

It said due to it being a busy week for travel traditionally, its options
for returning people to the UK were "more limited on some routes" so it was
putting on five repatriation flights, as well as using larger aircraft with
additional seats.

 

Rob Ward estimates that he is more than £2,000 out of pocket after his and
his girlfriend's BA flight from Ibiza to London Heathrow on Monday was
cancelled.

 

"After waiting three hours on live chat to British Airways [the man]
suggested a flight on Saturday evening with a stopover in Barcelona and then
Doha! We eventually found a flight on Thursday at 3am to Manchester we've
had to now pay for ourselves.

 

"We've had to book back into a hotel and [try to] claim it back through BA
expenses and miss work for the rest of the week," he said.

 

Rob, who manages two gyms, says he spent about £1,000 on hotels, £250 on new
flights and that he will lose two days' income from his work as a personal
trainer.

 

He says BA told him he would have no problem getting reimbursed but he can't
claim it back until the end of the stay so is still out of pocket now.

 

"You budget for a holiday, and this just can't be reasonably accepted with
no help from the airline except 'keep your receipts'", said Rob.

 

BA said people can claim £200-£250 per night for hotels and £25-£35 per
person per meal.

 

The chaos endured by thousands of UK travellers was a result of the company
Nats receiving data that it could not process, leading to part of its system
failing.

 

Nats controls most aircraft in UK airspace and receives millions of flight
plans every year. Due to the failure, Nats reverted to a manual system -
meaning fewer flights could be handled, causing a huge backlog.

 

The Civil Aviation Authority (CAA), the watchdog for the industry, says
under UK law, people have legal rights on many flights to, from or within
the UK.

 

If a flight is cancelled, a passenger's airline must let them choose between
either getting a refund or an alternative flight to their destination.

 

If another airline is flying to a person's destination significantly sooner,
or there are other suitable modes of transport available, then people have a
right to be booked onto that alternative transport instead.

 

Rory Boland, travel editor at consumer group Which?, told the BBC that
expenses could be claimed by people who had booked alternative modes of
transport as a result of there being no flights available.

 

"The airlines cannot claim an extraordinary circumstance forever," he said.

 

In the cases of the Bakers and other families, Mr Boland said that "nobody
should be waiting a week for a replacement flight" as the law stated
airlines were required to offer alternatives "at the earliest possibility".

 

"Waiting a week is never going to be the earliest opportunity," said Mr
Boland.

 

The joint interim chief executive of the CAA, Rob Bishton, also said on
Wednesday that customers should keep every receipt if they have had to cover
their own meal costs and accommodation and make sure that claims are not
"excessive".

 

He said that the organisation was working with airlines to avoid any
incorrect information being given to customers.

 

The CAA advises people to not spend more than is "reasonable" for costs
incurred as a result of cancelled flights. It also says it expects airlines
to respond to claims for reimbursement in a "reasonable" time.

 

While people should be able to claim expenses, due to the disruption being
not the fault of airlines, people are unlikely to be eligible for extra
compensation.

 

Have you been personally affected by the disruption to flights? Get in touch
by emailing haveyoursay at bbc.co.uk.

 

Please include a contact number if you are willing to speak to a BBC
journalist. You can also get in touch in the following ways:

 

--bbc

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
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been compiled from s believed to be reliable, but no representation or
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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
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investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


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