Major International Business Headlines Brief::: 13 December 2023

Wed Dec 13 10:13:10 CAT 2023

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Major International Business Headlines Brief:::  13 December 2023 

ü  Tanzania: Eacop First 100 Km Consignment Pipes Arrive in Dar

ü  Africa: Could Angola Become Africa's Logistics Hub?

ü  Kenya's Debt Distress Averted as Economy Gains Stability, Says President William Ruto

ü  Tanzania Keeps Pace With Technological Advancements

ü  Kenya's Third Nationwide Power Blackout Could Be a Result of Sabotage

ü  Nigeria: Govt Suspends 686 Civil Servants Salaries Over Unverified Records

ü  Nigeria: Egypt Air Fails to Transport Passengers' Luggage to Nigeria

ü  Nigeria Govt Set to Unbundle Transmission Company

ü  Kenya: Ruto Says META to Pay Content Creators After Year-Long Negotiations

ü  Namibia: Trade Ministry Consults On Key Laws and Policies

ü  Argentina peso: Milei begins 'shock therapy' by devaluing currency

ü  UK economy shrank by more than expected in October

ü  Zara says it regrets Gaza images misunderstanding

ü  Dove and Marmite maker Unilever faces investigation over green claims

ü  Tata: Doubt over Port Talbot's ability to make new steel

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

Tanzania: Eacop First 100 Km Consignment Pipes Arrive in Dar

DAR ES SALAAM: THE first consignment of 100 kilometres pipes for the East African Crude Oil Pipeline (EACOP) have arrived in Dar es Salaam Port, signalling the initiation of the main construction phase for the cross-border pipeline project.

EACOP will transport crude oil from the Lake Albert region of Uganda to the Chongoleani peninsula near Tanga in Tanzania, where it can access world markets. The project represents a major inward investment in Uganda and Tanzania.

An event to mark the occasion was held yesterday between EACOP's Shareholders, at the storage yard operated by EACOP's Tanzania Logistics partner, SuperDoll. They will then be transported to Nzega, Tabora Region.

Speaking at the yard in Dar es Salaam yesterday, the project coordinator from the Tanzania Petroleum Development Corporation (TPDC), Safiel Msovu said that the pipes have arrived in the country as part of the first phase of building 100 kilometres and have been received at the EALS yard.

''The process for burying pipes will start in April 2024. The completion of the project will depend on the progress of the work, but it is expected to be completed by December 2025 and crude oil will start to flow from Uganda to the Indian Ocean in 2026,'' Msovu said.

He said that the government of Tanzania through TPDC is continuing to coordinate and supervise the project. So far, more than 500 billion shillings have been provided by the government for the project including compensation of the people who are going to be affected by the project.

EACOP Managing Director Martin Tiffen said that the company is committed to ensuring that its operations meet the highest standards of environmental protection and safety. The transportation of pipes from the Port of Dar es Salaam to various project sites will be done using new trucks with high-quality standards.

''The project has invested heavily in comprehensive driver training, focusing on road safety exercises, emergency response, travel plans, and compliance with traffic regulations. State-of-the-art technology is being used for pipe lifting activities,'' he said.

He said the best available technology has been incorporated for line pipe lifting operations. Vacuum lifting and 'rob rigging' are employed to ensure that personnel are kept out of the 'line of fire' during lifting operations.

''As the on the ground construction of this 1443km pipeline progresses, EACOP remains committed to delivering this project with the utmost responsibility, contributing to the sustainable growth and prosperity of East Africa,'' he Said.

Ugandan Ambassador to Tanzania, Retired Colonel Fred Mwesigye, said that the government of Uganda is happy to see it is returning the favour to Tanzanians who fought and shed blood for them.

''Uganda is happy to see that it has found a way to return thanks to Tanzanians who shed blood to fight for Uganda. I thank the Presidents of Tanzania and Uganda for agreeing to pass this pipeline through Tanzania,'' he said.

EACOP will transport crude oil from the Albert Lake area in Uganda to the Chongoleani peninsula near Tanga in Tanzania for export to international markets.

The 1,443-kilometre (896-mile) East African Crude Oil Pipeline (EACOP) project, being built by the governments of Uganda and Tanzania, will be the longest heated pipeline in the world when completed.

This massive export oil transportation system includes 1,443 kilometres (296 kilometres in Uganda and 1,147 kilometres in Tanzania) of 24-inch buried pipeline, six oil pumping stations, two pressure reduction stations, and a marine oil export terminal in Tanzania.

-Daily News.

Africa: Could Angola Become Africa's Logistics Hub?

Yes, according to Catarino Fontes Pereira, head of Angolan logistics regulatory agency

To help diversify the economy, the Angolan Regulatory Agency for Cargo Certification and Logistics (ARCCLA) oversees implementation of the country's logistics network projects. In this interview with Africa Renewal's Kingsley Ighobor, Catarino Fontes Pereira, president of ARCCLA's board of directors spoke about the potential for current projects to foster national and regional economic development.

Why did you send some of your staff to the training organized by UN Conference on Trade and Development (UNCTAD)

We have the responsibility to regulate and supervise logistics in Angola. Through our Ministry of Transport, UNCTAD assists in training Angolans, including young people. We must develop the capacities of our staff so that they can perform more efficiently.

As you know, ARCCLA is a very young institution. We need a certain level of knowledge on, for example, how to conduct PPP (Public private partnerships) [public-private partnership] processes. Our staff must understand important variables in structuring a project.

UNCTAD has extensive knowledge about logistics around the world, especially in Africa, and so we needed it to help us as we took the first steps in project execution. So, the team learned some important concepts.

Have they started applying those concepts in their work?

Yes. One of the concepts we learned was risk sharing. In setting up PPP projects, we must understand how to share the risks involved. We represent the government, and our partner may represent a concessionaire, and so we must share the risks.

Another concept was project viability. We must understand how to conduct studies that make a project feasible for international institutions like the World Bank, the International Monetary Fuhd and others.

Do you intend to organize more training for your team?

Of course! Capacity building should be a continuous process. The development of any institution depends especially on human capital. When people are well-instructed and well-capacitated, they develop our institution. As an institution created a few years ago, we need to learn, grow and reach the level that we intend to reach. Therefore, we must be very well-prepared.

We are on our way to being a logistics hub, with the support of organizations like UNCTAD.

What is your ideal situation for logistics in Angola?

We are striving to reach an acceptable level. The level of interoperability of our logistics is not yet stable among members of the logistics chain. Many elements are missing. We must bring the operators together for them to understand their role and the role of the government.

When we harmonize and synchronize our work, Angola will have an acceptable level of logistics.

How soon? Next year? 2025? 2030?

As soon as possible. We think that, in 2025, we can reach a level that is significantly better than where we are today.

Do you coordinate logistics with your counterparts in other countries, particularly neighboring countries?

At the continental and subregional levels, we are working together. We are a member of the Union of African Shippers' Councils, an African institution where we share trading information and discuss strategies for developing logistics in Africa., an African institution where we share trading information and discuss strategies for developing logistics in Africa.

Angola is also a signatory to the African Continental Free Trade Agreement (AfCFTA), and we constantly discuss with other countries areas of collaboration on free trade.

In your conversations with representatives of other countries, do you sense momentum in developing the infrastructure needed to accelerate the operationalisation of the AfCFTA?

Yes, and we have good examples. Senegal, for one, has developed its ports to a very high level. Ethiopia is doing a lot in logistics development and organization. South Africa is constructing massive infrastructure. In Angola, we just inaugurated a new airport that will make us logistics hub, not only within Africa but also for connecting Africa with Asia and South America.

What logistics systems are you specifically talking about?

They include infrastructure to bring produce from the big farms. We must have the capacity to transport products from the countryside to a storage facility. We must have the ability to conduct phytosanitary inspections so that we can prepare these products for export and the domestic market.

How does improved infrastructure support Angolan entrepreneurs?

We have a strategic programme for developing logistic infrastructures in Angola. Considering our needs, we identified six strategic locations.

Two are in the northern region. The first is in Luvo, where we share a border with the Democratic Republic of Congo (DRC). Luvo holds significance because of its high level of trade.

The second is in Soyo, a major oil hub in Zaire Province. We need logistic infrastructure because of the new oil refinery in Zaire Province.

We have a strategic programmed for developing logistic infrastructures in Angola.

The third and fourth are the Lobito Corridor and Caála in the Huambo Province, the main hub for agriculture in Angola.

The fifth is Luau, on the western border between Angola and the DRC.

Lastly, the sixth is Arimba in Huila Province, strategically positioned to facilitate the export of ornamental stones such as marble and granite.

So, when these six logistics locations are working effectively, we can say that Angola has an organized logistics operation. We are on our way to being a logistics hub, with the support of organizations like UNCTAD, we will get there!

-Africa Renewal.

Kenya's Debt Distress Averted as Economy Gains Stability, Says President William Ruto

Nairobi — President William Ruto has announced that Kenya has successfully averted the threat of debt distress, emphasizing that the nation's economy is on a stable and sustainable path.

He credited the government's implementation of well-considered policies for this achievement, policies that have promoted sustainable economic growth.

During the 60th Jamhuri Day celebration held at Uhuru Gardens in Nairobi, President Ruto highlighted that the government has made the right decisions, undertaken necessary sacrifices, and made prudent choices. These efforts have yielded positive results, positioning Kenya as one of the world's fastest-growing economies.

President Ruto pointed to several favorable economic indicators, including a decrease in inflation and robust GDP growth, as signs of Kenya's economic stability and growth.

The celebration was attended by dignitaries, including President Sahle-Work Zewde of Ethiopia, President Hussein Mwinyi of Zanzibar, Deputy President Rigathi Gachagua, Vice-President Prosper Bazombanza of Burundi, Wamkele Mene, Secretary-General of the Africa Continental Free Trade Area, Cabinet Secretaries, and others.

To ensure sustainable economic growth, President Ruto emphasized that the government has intentionally increased investment in human capital development. Notably, the total allocation to education has been raised by Ksh 127 billion.

In the agricultural sector, the government has taken significant steps, such as registering farmers, providing crop-specific fertilizers, implementing reforms in the tea, coffee, sugarcane, and edible oils industries, and making mobile dryers available.

President Ruto described the Universal Health Coverage plan as a transformative initiative that will alleviate millions of Kenyans from the burden of hospital bills.

He also highlighted the government's commitment to job creation for the youth through programs like the Affordable Housing Plan and the establishment of ICT hubs to unlock online job opportunities.

The President noted that the government has fulfilled its promise to provide affordable credit and free entrepreneurs from exploitative money lending services. The Hustler Fund, he added, has grown to become the largest financial inclusion program in Kenya.

In a significant announcement, President Ruto revealed that visa restrictions for visitors to Kenya will be lifted starting January 2024, further promoting tourism and economic growth.

Later at the State House Gardens, the President hosted a luncheon and recognized individuals for their outstanding contributions to the country.

-Capital FM.

Tanzania Keeps Pace With Technological Advancements

DODOMA: IN a bid to ensure that Tanzania remains at the forefront of the digital era, the Tanzania Communications Regulatory Authority (TCRA) has reiterated its commitment to fulfilling its mandate by focusing on enhancing and advancing the digital revolution, digital literacy and inclusion.

Marking the 46th anniversary of the African Telecommunications Union (ATU) recently, TCRA Director General Dr Jabiri Bakari acknowledged Tanzania's significant progress in expanding access to telecommunications and ICT services.

He reaffirmed TCRA's unwavering commitment to regulating the communications sector and enabling the achievement of the government's digital revolution goals.

''TCRA also facilitates the inclusion of marginalised groups through enhanced SIM card registration processes, where citizens are assured of registration to embrace digital services, including mobile financial services,'' he insisted.

As of September 2023, Bakari said Tanzania had about 67.1 million active registered SIM cards. Comparing this with a population of 61.7 million as per the 2022 census, this makes the overall penetration of 109 per cent, meaning that there are 109 subscriptions per 100 people in Tanzania by September 2023.

The communication sector regulatory executive emphasised that this year's ATU theme, ''Towards a Digital Revolution and Inclusion of the Marginalised: Addressing Accessibility Factors,'' underscores the importance of ensuring universal access to the benefits of the digital revolution and inclusion. TCRA, as a member of ATU, will remain firm in fulfilling its mandate to ensure citizens are well-served with communication services.

''The industry has witnessed the growth of digital financial inclusion services. As of September 2023, the mobile money subscriptions had reached 51.4 million users, constituting 76.6 percent of the total registered active SIM cards. The enhanced SIM card registration processes have also added SIM card registration procedures for visitors above the age of 65 or with defective fingerprints that experience challenges when capturing biometric information,'' he said.

Enhanced Digital Literacy

Ensuring the youth's proficiency in digital technology, DG Bakari envisions ''a future where no one is left behind,'' adding, ''our vision extends beyond connectivity; it encompasses empowering individuals through digital literacy and skills development.'' Bakari explained that they are spearheading the establishment of digital clubs in schools and colleges in collaboration with all stakeholders. These clubs will foster ICT awareness, cultivate opportunities for ICT skill development, promote responsible digital citizenship, and contribute to the advancement of digital Tanzania.

Regarding the enhanced adaptation of rapidly changing digital technology landscapes, the DG is optimistic that his regulatory body will not be left behind, and neither will Tanzania.

''TCRA understands the necessity of adapting to the emergence of new technologies in the sector, such as 5G, artificial intelligence, the Internet of Things, big data analytics, and edge computing. Therefore, it creates an environment that fosters innovation while ensuring compliance with regulatory standards,'' he insisted.

The DG further discussed the release of the IMT multi-band frequency spectrum in the 700 MHz, 2300 MHz, 2600 MHz, and 3500 MHz bands on October 11th, 2022, through auctioning. He said it has enabled service providers to broaden communication services in the country, facilitating the rollout of 5G technology services to different parts of Tanzania and enhancing the penetration of the latest digital communication technologies.

Established in 2003 under TCRA Act number 12, the Regulatory Authority is tasked with regulating the communications sector in Tanzania. Its purview encompasses telecommunications and internet services, broadcasting and online journalism, and postal services, including courier operators.

Celebrating its 20th anniversary this year, TCRA actively participates in various regional and international communication bodies, including ITU, ATU, PAPU, CTO, UPU, EACO and CRASA, to ensure collaboration in developing and implementing regional and international sector regulatory frameworks, ensuring that Tanzania remains at the forefront of communications advancements through TCRA's technical representation.

-Daily News.

Kenya's Third Nationwide Power Blackout Could Be a Result of Sabotage

Harare — The power outage that left Kenya in the dark on Sunday, December 10, 2023 may have been the result of sabotage, according to a minister, BBC reports.

It was Kenya's third nationwide blackout in the previous four months. Numerous services were affected by the blackout, including the main airport in Nairobi, the country's capital, where two terminals were without electricity for several hours.

Transport Minister Kipchumba Murkomen has asked the police to look into the possibility of sabotage, after coming under fire for the time it took to restore electricity to Nairobi's Jomo Kenyatta International Airport (JKIA).

"Considering the frequency of the power disruption, and taking into account the fact that JKIA is a facility of strategic national importance, we are making a formal request to the National Police Service to investigate possible acts of sabotage and cover-up," he posted on X. The airport administration explained that the backup generators servicing the two busiest JKIA terminals "failed to immediately activate".

Some Kenyans have speculated that the power outages may be a ploy to support the privatisation of Kenya Power and Lighting Company (KPLC), the country's state-run energy supplier, while others attribute the outages to KPLC's incompetence.

Meanwhile, Energy Minister Davis Chirchir said the whole power network of Kenya failed as a result of a powerline overload. In order to ease the existing strain on transmission lines and avert more disruptions, the government will construct new networks over the course of the next 20 months, Chirchir said.

Nigeria: Govt Suspends 686 Civil Servants Salaries Over Unverified Records

In a bid to ensure transparency and efficiency in the Nigerian civil service, the Federal Government has suspended a total of 686 civil servants with unverified records on the Integrated Personnel and Payroll Information System (IPPIS).

The move is part of ongoing efforts to streamline the country's payroll system and eliminate ghost workers.

The suspension was announced by the Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, in a statement, Tuesday, signed by Director of Communication, Mohammed Ahmed.

Vanguard reports that of the 59, 201 Civil Servants who participated fully in the verification exercise earlier in the year, 11,447 officers had discrepancies in their records.

However, Yemi-Esan ordered for the verification portal to be reopened and an invitation was also extended for verification exercise from 16th - 27th October for the 11,447 civil servants whose salaries were suspended to update their records online.

Of the 11,447, only 10,761 officers participated in the physical verification exercise and the 686 did not attend.

The statement reads in part: ''The records of 59,201 Civil Servants, who participated fully in the verification exercise and had no discrepancies in their records were forwarded to the Office of the Accountant General of the Federation for continuous payment of their salaries. However, salaries of 11,447 officers, whose records were not verified, were suspended.

''On account of the suspension, the verification portal was reopened for these officers to enable them update their records online. Thereafter, they were invited for verification exercise from 16th - 27th October, 2023.

''A total number of 10,761 officers participated in the physical verification exercise. After the verification exercise, the review of verified records was carried out, in phases, to ensure that only credible records were on the IPPIS platform.

''The names of officers with cleared records were sent to the Office of the Accountant General of the Federation immediately they were cleared as follows: i. September, 2023 - 818 officers, ii. October, 2023 - 650 officers,

iii. November, 2023 -6857 officers, iv. December, 2023 - 1407 officers and v. Total number of officers cleared - 9,732 officers.

''Some of these officers have received their salaries to date, while others will be paid in the month of December with all the arrears. Files of 1,029 officers, who have discrepancies in their records are still being expected from their MDAs to enable the office to authenticate their records after which their salaries will be restored.

''It should be noted that about 686 officers, whose salaries were suspended, did not show up for the verification exercise and their salaries remain suspended on the IPPIS platform.''

-Vanguard.

Nigeria: Egypt Air Fails to Transport Passengers' Luggage to Nigeria

Many passengers of Egypt air from Dubai and Cairo were unable to claim their luggage upon arriving Abuja Tuesday afternoon

Passengers on a Dubai-Cairo-Abuja flight operated by Egypt Airline (MS877) were stranded at the Nnamdi Azikiwe International Airport on Tuesday as they could not claim their luggage.

The aircraft arrived at the Abuja airport from Cairo at about 1:30 p.m. Tuesday without the passengers' luggage.

Some of the passengers had formed a queue for several hours while awaiting their bags only to be told to return on Thursday to claim their luggage.

Only a few passengers were able to claim their bags after several hours at the airport.

''We are sorry there are no more luggage in the aircraft; kindly come on Thursday to claim your luggage,'' a FAAN official told the awaiting passengers.

A passenger who claimed to have experienced a similar situation in the past lamented the inconvenience caused by the airline's failure to airlift the luggage Tuesday afternoon.

A PREMIUM TIMES journalist, who was among affected passengers, reports that several passengers who were supposed to join a connecting flight to other parts of Nigeria were left stranded at the airport.

''I'm not living in Abuja, I'm going to join my flight to Port Harcourt. What do they want me to do?'' a female passenger lamented.

''Egypt Air is fond of this, they did not tell us that our baggage will not be arriving today,'' another passenger claimed.

''This is so frustrating. And it is not their first time. At their airports in Cairo, they were treating passengers rudely only to get here to meet another disappointment. Yet no one will query this airline.''

Affected passengers were asked to fill Property Irregularity Report (PIR) form for checked baggage.

FAAN, NCAA speak

When our correspondent visited the office of the manager of the Federal Airport Authority of Nigeria (FAAN) at the airport to officially complain, Mohammed, a FAAN official in charge of operations, instructed passengers to file complaints at the Nigeria Civil Aviation Authority (NCAA).

He added that airlines have varying reasons for not informing passengers of their inability to convey their luggage on their flights.

''You know if they tell passengers that their luggage will not be arriving with them, many won't fly. That could be the reason why they did not inform you people,'' he said.

At the passenger support booth of the NCAA, an official with the name tag 'O. U Aboh' said a complaint cannot be lodged until it's confirmed that baggage is missing.

He said the PIR form filled by affected passengers will be used to trace the missing bags after which passengers can lodge complaints after 21 days.

''There is nothing we can do now. Just wait. They will send an email explaining what happened,'' he said.

Efforts to reach the management of the airline failed Tuesday evening. The airline's officials were not present at the airport and an email sent to the airline was not responded to.

-Premium Times.

Nigeria Govt Set to Unbundle Transmission Company

''To align with the Electricity Act 2023 and the industry's demands, it's time to restructure the Transmission Company of Nigeria (TCN) into two entities: the Independent System Operator (ISO) and the Transmission Service Provider (TSP),'' Mr Adelabu said.

The Nigerian government on Tuesday hinted at plans to restructure the Transmission Company of Nigeria (TCN) into two entities.

Nigeria's Minister of Power, Adebayo Adelabu, disclosed this while speaking at the Federal Ministry of Power ministerial retreat held in Abuja on Tuesday.

The TCN, which coordinates the nation's electricity transmission network, is one of 18 companies that were unbundled from the defunct Power Holding Company of Nigeria (PHCN) in April 2004. It was incorporated in November 2005 and issued a transmission licence a year later.

TCN's licensed activities include electricity transmission, system operation and electricity trading. The company is currently fully owned and operated by the government.

Speaking on Tuesday, Mr Adelabu said the Nigerian Electricity Supply Industry (NESI) transmission sub-sector has been identified as a critical weak point in the electricity value chain.

''To align with the Electricity Act 2023 and the industry's demands, it's time to restructure the Transmission Company of Nigeria (TCN) into two entities: the Independent System Operator (ISO) and the Transmission Service Provider (TSP),'' Mr Adelabu said.

He said this restructuring must synchronise with the evolving landscape of state electricity markets, addressing calls for the decentralisation of the national grid into regional grids interconnected by a new higher voltage national or super-grid.

''Essentially, we must ask whether the government should directly provide electricity nationwide or rather facilitate its provision.

''Drawing comparisons with China's centralized model and the US's diverse access models like rural cooperatives and state-based utilities with regulatory oversight presents various considerations.

''How to handle subsidies, cross-subsidies, and aligning the Rural Electrification Agency's role with emerging State markets are vital questions that demand stakeholder scrutiny for effective resolution,'' he said.

Speaking on the finance, revenue assurance and capital investment programmes across the electricity value chain, Mr Adelabu explained that the heart of NESI's proposed reforms hinges upon securing long-term financing across the entire value chain.

''While past discussions highlighted concerns about the financial capacities of private sector players from the 2013 privatization, our focus must centre on collaborative solutions to alleviate present liquidity challenges.

''Initiating this quest for robust investment involves attracting domestic institutional investors and reputable partners from well-governed sectors within the electricity value chain,'' he added.

The minister noted that the major issue in Nigeria's power sector is the pricing of gas utilised by generating companies (GenCos) in US dollars.

''A hugely volatile variable that significantly affects the pricing of electricity to end-users. A more preferable option is to ensure that the gas utilized by the GenCos is traded in Naira to better manage the foreign currency-related inflationary trends that challenge the faithful application of the Multi-Year Tariff Order (MYTO) methodology,'' he said.

As of 2022, he said 70.5 per cent of Nigeria's electricity was generated from thermal plants, 27.3 per cent from hydro, whilst solar and other power plants made up 2.2 per cent.

''The good news here is that over 98 per cent of the feedstock powering electricity generation in the country are transition or clean fuels, as Nigeria ramps up its capacity to generate more electricity through renewable means such as solar, hydro, wind, bioenergy and others,'' he said.

Mr Adelabu said the ministry would like to see more utility-scale solar power plants by 2030, which brings added responsibility for investments in generation and grid stability to address the variability that transmission of renewable energy-generated power over long distances brings.

''This brings with it the need for distributed generation power systems from renewable energy-driven power plants, that are localized around clustered communities and embedded or captive areas while at the same time stabilizing our national grid and or deploying super-grids or regional grids that can transmit generated power over long distances with minimal losses.

''We need our investors, financiers and NESI value chain players to dimension the opportunities and electricity sector alignment with Nigeria's Energy Transition Plan to ensure we meet our energy transition aspirations,'' he said.

-Premium Times.

Kenya: Ruto Says META to Pay Content Creators After Year-Long Negotiations

Nairobi — President William Ruto has announced that Facebook and Instagram will be paying content creators using META platforms following the conclusion of negotiations led by the government.

Speaking on Tuesday during Jamhuri celebrations, Ruto said following a pilot programme with eligible creators in the country, Meta will be expanding monetization opportunities allowing more creators to earn a living doing what they love.

''I have good news for our creatives and those who imagine and produce content through Facebook and Instagram. Just yesterday, Meta committed to helping creators in Kenya earn money for crafting original content,'' he said.

He said Kenya possesses impressive credentials as a source of highly professional human capital with highly educated, trained, skilled and dynamic young people.

Skill monetization

Ruto added that the government has systematically and intentionally negotiated separate bilateral agreements with countries in the Middle East, Europe and Americas to connect our skilled workforce with opportunities globally.

''This will provide exposure to thousands of Kenyans to work in international organisations, engage in global assignments and monetize their skills and talents as they enhance their incomes and personal development,'' he said.

''Millions of Kenyans already working abroad have been great ambassadors for our country and have made huge contributions through their remittances to the development of Kenya.''

The announcement follows similar intervention with China-made TikTok.

President Ruto announced in September plans by the social media firm to run a national training program through comprehensive platform knowledge, fostering increased monetization and promoting positive content.

President spoke when he hosted the Director Tiktok Africa Fortune Mgwili-Sibanda and ICT Principal Secretary John Tanui where they reviewed issues of moderation and monetization of the service.

''Kenyan creatives deserve to make a livelihood from their ability to create good content. TikTok will run a national training program in Kenya to empower content creators through comprehensive platform knowledge, fostering increased monetization and promoting positive content,'' Ruto said on September 3.

-Capital FM.

Namibia: Trade Ministry Consults On Key Laws and Policies

The industrialisation and trade ministry is undertaking public consultations in various regions pertaining to several pertinent issues. The consultations touch on the Special Economic Zone Bill (SEZ), the National Informal Economy, Start-ups and Entrepreneurship Development Policy (NIESED), Namibia Investment Promotion and Facilitation Regulations, and the National Cooling Strategy.

The ministry has undertaken the public consultations on three key legislative and policy documents in a clustered format to gather input from all stakeholders.

Today, 12 December, the ministry is in the Otjozondjupa and Erongo regions; on Thursday, 14 December they will be in the Omaheke and Khomas regions ;and on Monday, 18 December, the consultations will be conducted in the Oshana, Omusati, Ohangwena and Oshikoto regions. Ministry spokesperson Elijah Mukubonda said this implies the Erongo and Otjozondjupa regions will be consulted on the same date in Walvis Bay, while Oshana, Omusati, Oshikoto and Ohangwena will be consulted in Ondangwa. The Omaheke and Khomas regions will be consulted in Windhoek.

''Namibia has phased out the Export Processing Zones (EPZ), and is currently transitioning to the Special Economic Zone (SEZ). The EPZ proved unsuccessful, yielded no requisite tax to the Treasury, and led to Namibia being almost blacklisted as a tax haven. This necessitated the reconsideration of the EPZ, and the need to seek for a more conducive and sustainable regime, hence the shift to SEZ,'' he stated.

Mukubonda added that the trade ministry is further in the process of developing the National Policy on the NIESED. The policy aims to create an enabling environment, focusing on key aspects such as understanding the needs of informal business operators, providing entrepreneurial training, supporting business infrastructure for the sector, integrating digitalisation and establishing incentives for sector development.

''Additionally, following our consultations which were held in 2022 on the Namibia Investment Promotion and Facilitation Bill, the ministry has developed the regulations which will guide the implementation of this law, hence these regulations will need public inputs,'' he added.

-New Era.

Argentina peso: Milei begins 'shock therapy' by devaluing currency

Argentina's new government says it will weaken the value of its currency by more than 50% against the US dollar.

It is part of the "economic shock therapy" that President Javier Milei says the country needs to fix its worst crisis in decades.

Economy Minister Luis Caputo also announced deep cuts to public spending.

They include a reduction in fuel and transport subsidies and freezing spending on some major government contracts and advertising.

Mr Caputo said he had inherited the worst economic legacy in Argentina's history and he was taking steps to avoid hyperinflation.

"We are going to be worse off than before for a few months, particularly in terms of inflation. And I say that because, as the president says, it is better to tell an uncomfortable truth than a comfortable lie," Mr Caputo said in a televised address.

Argentina is battling soaring inflation, with prices rising by around 150% over the last year. It is also struggling with low cash reserves, high government debt, while 40% of the population is living below the poverty line.

The International Monetary Fund (IMF) - to which Argentina owes $44bn (£35bn) - called the measures "bold" and said they will help create the environment for private sector growth.

"I welcome the decisive measures," IMF chief Kristalina Georgieva said, adding that it is "an important step toward restoring stability and rebuilding the country's economic potential."

Mr Caputo said the exchange rate would be cut to 800 pesos to the US dollar, from roughly 391 pesos.

Since 2019, Argentina has kept its currency artificially strong by strictly controlling the movement of the currency.

That helped drive demand for the US dollar on the informal currency market, which saw the peso trading at a much lower rate that the the official level.

Mr Milei, a libertarian who rose from relative obscurity to the top office in a bitterly fought election, was sworn in on Sunday.

He campaigned on promises of major spending cuts and was known for wielding a chainsaw at rallies to depict his intentions to slash government spending.

It is not clear if his coalition, which is only the third largest bloc in the country's Congress will be able to implement enough major spending cuts needed to shore up the economy without pushing it into turmoil.

Mr Milei has already cut nine government ministries, which Mr Caputo said would reduce 34% of public sector jobs.

Speaking about the cuts to government spending for infrastructure projects, Mr Caputo said: "The reality is that there is no money to pay for more public works that, as all Argentines know, often end up in the pockets of politicians or businessmen on duty".-bbc

UK economy shrank by more than expected in October

The UK economy shrank by more than expected in October, as higher interest rates and bad weather held back growth.

Gross domestic product (GDP) fell by 0.3% on the month, compared with growth of 0.2% in September.

Household spending has been squeezed by rate rises as the Bank of England tries to tackle inflation. It is due to make its next rate decision on Thursday.

Meanwhile, construction and tourism were hit by severe weather in October as Storm Babet lashed the UK.

Most economists had predicted that the economy would fall by just 0.1% that month.

The Office for National Statistics' Darren Morgan said: "Services were the biggest driver of the fall with drops in IT, legal firms and film production - which fell back after a couple of strong months.

"These were also compounded by widespread falls in manufacturing and construction, which fell partly due to the poor weather", such as the severe winds and flooding seen during Storm Babet.-bbc

Zara says it regrets Gaza images misunderstanding

Zara says it "regrets" a "misunderstanding" about an ad campaign criticised for using photos resembling images from the Israel-Gaza war.

It has pulled the remaining pictures following days of backlash on social media and complaints to the UK's advertising watchdog.

One image showed a model holding a mannequin wrapped in white plastic.

Zara said some customers saw "something far from what was intended when they were created".

Some social media users on X, formerly Twitter, had called for a boycott of the fashion retailer.

Zara said that the campaign, advertising its Atelier line, was "conceived in July and photographed in September".

On 7 October, Hamas launched an attack on Israel, killing 1,200 people. Israel launched retaliatory attacks on Gaza, which the Hamas-run health ministry in the territory says has killed about 18,200 people.

Zara's campaign - called "The Jacket" - contained a series of images in which the model was pictured against a background of cracked stones, damaged statues and broken plasterboard.

Some on social media suggested they were similar to images emerging from Gaza.

But Zara said the campaign presented "a series of images of unfinished sculptures in a sculptor's studio and was created with the sole purpose of showcasing craftmade garments in an artistic context".

In a statement issued days after the controversy first emerged, Zara said: "Unfortunately, some customers felt offended by these images, which have now been removed, and saw in them something far from what was intended when they were created.

"Zara regrets that misunderstanding and we reaffirm our deep respect towards everyone."

In November, M&S apologised after being accused of posting an Instagram photo of Christmas party hats in the colours of the Palestinian flag on fire.

The image, taken from a Christmas advert filmed in August, show showed red, green and silver paper hats burning in a fireplace.

M&S said its intent was to "playfully show that some people don't enjoy wearing paper Christmas hats".

But following criticism from social media users, it said: "We have removed the post following feedback and we apologise for any unintentional hurt caused."

The Advertising Standards Authority (ASA) said it had received 116 complaints about M&S's advert.

Zara's campaign has led to 110 complaints to the ASA, across social media and TV, which it is currently reviewing.

A spokesperson for the advertising watchdog, said: "Complainants argue that the imagery references the current Israel-Hamas conflict and is offensive."

Prior to the backlash, Zara said "The Jacket" campaign was "an exercise in concentrated design that is conceived to showcase the finest aspects of Zara's creative and manufacturing capabilities, Zara Atelier offers one garment, six ways - and with unlimited possibilities".-bbc

Dove and Marmite maker Unilever faces investigation over green claims

Dove soap and Hellmann's mayonnaise maker Unilever is being investigated over its environmental claims, amid concerns shoppers are being misled.

The Competition and Markets Authority (CMA) says Unilever may be overstating how "green" certain products are.

Unilever makes household names such as Cif, Dove and the deodorant brand Lynx.

The consumer giant said it was "surprised and disappointed" with the announcement and refuted its claims were "in any way misleading".

But the CMA said certain statements and language used by Unilever on some of its products "appear vague and broad" and "may mislead shoppers".

The watchdog also said some product ingredients were presented on packaging in a way to exaggerate how natural the products seemed, known as "corporate greenwashing".

It highlighted Unilever's use of colours and imagery - such as green leaves - as a cause of concern, arguing it could again overstate the products' environmental friendliness.

"More and more people are trying to do their bit to help protect the environment, but we're worried many are being misled by so-called 'green' products that aren't what they seem," said CMA boss Sarah Cardwell.

"So far, the evidence we've seen has raised concerns about how Unilever presents certain products as environmentally friendly."

The move comes as part of a wider investigation into green claims made in advertising for goods such as toiletries, cleaning products, food and drink.

Shoppers spent more than £130bn last year on household essentials, including food and drink, cleaning products, and personal care items, the CMA said earlier this year.

A significant number of these are marketed as green or environmentally friendly, including up to 91% of all dishwashing items and 100% of toilet products, according to the watchdog.

Unilever said in a statement it was committed to making responsible claims that were "transparent and clear".

"We will continue to co-operate with the CMA and fully comply with further requests for information," a spokesperson added.

The Advertising Standards Authority (ASA) has also been cracking down on companies it suspects of greenwashing.

Adverts for Air France, Lufthansa and Etihad were banned in December for misleading consumers about the airlines' environmental impact.

Lufthansa and Etihad have since removed the ads, while Air France did not reply to the BBC's request to comment.-bbc

Tata: Doubt over Port Talbot's ability to make new steel

Tata's Port Talbot plant may have to "give up" on making new steel, according to the firm behind a green steel plant.

A boss at H2 Green Steel in Sweden said the UK lacked the conditions for a switch to hydrogen-powered furnaces and should focus on recycled steel instead.

Kajsa Ryttberg-Wallgren warned the UK steel industry risked a "slow death" if not.

A Tata spokesman said it was committed to greener steelmaking in the UK.

An announcement has been expected for some time on the Port Talbot plant's decarbonisation plans.

Steelworks gets £500m funding but 3,000 jobs may go

Unions angry as Tata job loss announcement looms

Unions previously said Tata intended to close both blast furnaces at the site, which rely on coal and manufacture brand new - or virgin - steel.

Instead of the blast furnaces, an electric arc furnace would be installed, which melts scrap material.

This would eventually be run off clean electricity from the grid, significantly reducing the site's massive carbon footprint.

There are fears up to 3,000 jobs could be lost in the process, while the UK could be left unable to produce its own virgin steel and left reliant on imports.

But in November, Tata said it would consider the findings of an independent report which is understood to recommend maintaining blast furnace steel production for a number of years.

At Boden in northern Sweden, H2 Green Steel is constructing what is set to become the world's first large-scale green hydrogen-powered steelworks, at a cost of £4.8bn (€5.5bn).

The clean fuel is made using electricity which comes mainly from a large hydro scheme nearby, providing constant and reliable renewable power.

The area has an abundance of green energy as well as another vital ingredient - high quality iron ore. 

The plan at Boden is to produce about five million tonnes of virgin steel a year by 2030 as the company eyes up other opportunities in Canada and Brazil.

Countries like the UK, by contrast, lack the "right conditions as of now", claimed Ms Ryttberg-Wallgren, H2 Green Steel's executive vice-president.

"Will you have to give up on virgin iron-making? Probably yes," she told BBC Wales News.

"It will be a slow death if not."

Producing the required volume of green hydrogen affordably would be "very difficult if you don't have baseload power", she added.

Relying on intermittent power from offshore windfarms - as could be the case in Wales - would be more costly and so "the case is not bankable", she claimed.

Her suggestion was that plants like Port Talbot should focus on specialising in recycling steel using electric furnaces.

"You have a really strong automotive customer base in the UK for instance that is willing to pay a premium - they're really searching for green steel products," she said.

Prof Cameron Pleydell-Pearce, director of Sustain, Swansea University's research hub for a greener steel industry, said he believed there were "significant opportunities for scrap-intensive steel production".

Holding an empty can of coconut milk, Prof Pleydell-Pearce said it could ultimately end up as part of a solar-panelled roof on an environmentally-friendly home.

"We could develop a whole economy around this in south Wales," he explained.

"We're going to be doing a lot more in terms of looking after that material and seeing it travel in a responsible way through the supply chain back to the steelmakers.

"And there are going to be lots of jobs associated with that as we move to a circular economy."

However, he said it was important not to dismiss alternative solutions for Port Talbot.

He said blast furnaces could be retained using carbon capture and storage or utilisation technology, while hydrogen-powered production was also "not impossible".

"People need to understand there's not a 100% right way of doing this," he said.

Ben Burggraaf, chief executive officer of Net Zero Industry Wales, said Tata's plans to build an electric arc furnace were "the start of the journey" and hydrogen could play a part.

Major industries in south Wales are working on a plan that could see large-scale production of the fuel initially using natural gas, with carbon emissions shipped away to be stored under the sea.

Green hydrogen production would follow as floating offshore windfarms were built, Mr Burggraaf added.

Tata Steel said: "Electric arc furnace technology is currently the most practical and economically sustainable way to cut carbon emissions and secure the future for steelmaking at Port Talbot.

"The UK produces 10 million tonnes of scrap steel a year, which could be used in electric arc furnace steelmaking.

"This technology will cut our emissions by five million tonnes a year - the equivalent of almost two million homes.

"We are still considering other ways to reach carbon-neutral steel production across all our UK plants in the future, which could include hydrogen or carbon capture technology in addition to our current plans."-bbc

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