Major International Business Headlines Brief::: 03 July 2023

[Bulls n Bears]

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Major International Business Headlines Brief::: 03 July 2023 

 


 

 


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ü  Nigeria: Anxiety As Govt Resumes Work On Lagos-Ibadan Expressway Today

ü  Nigeria: CBN - the Demands of Reform and Needless Invasion of Privacy

ü  Nigeria: Weed Overgrows Lafia Cargo Airport Taken Over By Federal Govt

ü  Nigeria: Zenith Retains Top Spot As Nigeria's Number One Bank By Tier-1
Capital for 14 Straight Years

ü  Rwanda: Scientists Call for Probe Into Deforestation, Illegal Mining

ü  Nigeria: Despite Guidelines, Nigerian Airlines Not Paying Compensation
for Delays

ü  Uganda to Connect Refugees to Fast Internet

ü  South Africa: Government Focused On Ending Load Shedding, Building a
Buffer

ü  Rwanda: Construction of Rusizi Port Underway

ü  Kenya: We've Had 7 Million Kenyans Removed From Credit Reference Bureau
Blacklist - Ruto

ü  Botswana and De Beers Ink a Last-Minute, 10-Year New Deal On Diamond
Sales

ü  Liberia: Solidaridad and Netherlands Hand Over Oil Palm Mills to SMEs in
Liberia

ü  Nigeria: 9 Illegal Refineries With 1m/Bpd Production Capacity Uncovered
in Bayelsa

ü  New Zealand bans plastic bags for fresh produce in supermarkets

ü  Energy boss says prices might rise this winter

ü  Elon Musk: Tesla delivers record number of cars after price cuts

ü  Shell still trading Russian gas despite pledge to stop

 


 

 


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

The

Nigeria: Anxiety As Govt Resumes Work On Lagos-Ibadan Expressway Today

Motorists and road users plying the Lagos-Ibadan expressway, yesterday,
expressed fears as the contractor of the Federal Ministry of Works and
Housing resumes rehabilitation work on the axis today.

 

This came as the gridlock returned to the expressway, yesterday, following
the high influx of Lagos-bound vehicles who were returning after the long
Sallah break.

 

The situation crippled traffic along the axis for several hours as motorists
and road users were stranded in the gridlock.

 

The traffic was compounded by yesterday's downpour at the Berger end of the
ever-busy road.

 

 

As of noon on Sunday, it took motorists more than three hours to travel from
Ibafo in Ogun State to the Otedola Bridge in Lagos due to slow traffic which
takes between 15 and 20 minutes to cover the stretch.

 

Frustrated travellers were seen lamenting the pains they will be subjected
to face from today as a result of the failure of the contractor handling the
project for effective traffic management as well as the lack of passable
alternative roads.

 

Frustrated travellers speak

 

A motorist, Francis Adewale, who spoke to Vanguard, said: "The gridlock has
started again on this axis today (Sunday). You can imagine what the traffic
will look like tomorrow, (today) when the contractor returns to the site.
We, hereby, appeal to relevant authorities to put in place an effective
traffic and management system to ease the likely gridlock due to the high
influx of vehicles."

 

Also, Mrs Magaret Abioye, who resides in Mowe, Ogun State, expressed
apprehension over the likely return of gridlock as rehabilitation work
resumed today.

 

Mrs Abioye said: "We, hereby, appeal to the Federal, Lagos and Ogun state
governments to put in place functional traffic management to save us from
another round of hardship along the axis.

 

Following public outcry over the chaotic traffic situation on the
expressway, the Federal Government on June 26, suspended further work on the
ongoing reconstruction.

 

The Federal Controller of Works in Lagos, Mrs Olukorede Kesha, in a
statement, said the suspension was to reduce possible gridlock during the
Eid-el-Kabir celebration last Wednesday and Thursday.

 

-Vanguard.

 

 

 

Nigeria: CBN - the Demands of Reform and Needless Invasion of Privacy

The CBN's policy committee's relevance to the ongoing fight against rising
domestic prices means it is no less important a target for reforms.

 

The release, last week, of new customer due diligence regulations by the
Central Bank of Nigeria (CBN) underscored the importance of getting the
regulatory space right. This is important, especially at this juncture in
the evolution of the domestic economy when reforms by government not only
threaten established practices, but as a result have imposed huge adjustment
burdens on the mass of the population.

 

But is the inclusion by the CBN of customers' social media handles, in a
lengthening list of requirements that financial institutions must rely on in
order to identify their customers, the gratuitous invasion of privacy that
critics of the policy argue it is?

 

 

Concerns over the collection of data on individual activities in these parts
are not only exercised by the understanding that the governance of data is
not a strong suit of our public institutions. There are, in addition,
legitimate worries about the uses to which such information may be put,
including hounding those who might disagree with government.Against these
fears, though, PREMIUM TIMES has had to balance the need to strengthen the
know your customer and due diligence client onboarding protocols of
financial institutions, even as market-based reforms to the economy hold out
the promise of an increase in the supply of financial resources.

 

This equally aligns with the demand of the Nigeria Data Protection
Commission on the need to protect the rights and interests of Nigerians as
data subjects. Hence, there is need for data limitation to the extents of
the purpose for which it is primarily required.

 

 

While we note the burden on domestic economic entities from these reforms,
we recognise that more liberal market structures would be required if the
price mechanism is to function properly. Whereas a more liberal market
environment necessarily requires minimum impediments to the entry and exit
of suppliers and consumers from markets across the country, we are also
persuaded that deregulation of an economy is not the same as the absence of
regulations.

 

And so, the reforms that the CBN recently embarked upon matter. But not in
the way that the initial responses to the apex bank's regulatory tweak
suggest. Financial institutions' fiduciary responsibilities to their clients
and to the economy require that their processes and procedures are not
tainted by corrupt practices.

 

Inasmuch as the regulator bears responsibility for ensuring that each such
institution is stable, the institution is responsible for ensuring that its
customers' businesses do not compromise the integrity of the system. It
could be in order, therefore, to ensure that these financial institutions
regularly profile their customers. Yet, in this sense, the list of documents
that banks have required before one may open an account are far more
intrusive than is the customer's social media handle.

 

 

Not many customers will put their permanent addresses (full physical
addresses), residential addresses, telephone numbers, bank verification
numbers, and tax identification numbers on their social media handles. But
they have willingly handed these over to banks. Nor are banks the only
institutions that now feel that access to their customers' social media
handles are important for their background checks, as many who have recently
applied for travel visas will readily attest.

 

All of which invite attention to the the CBN's governance structure. The
suspension on 9 June this year of the previous incumbent means we have had
someone act in that capacity. It also means that the process for the
appointment of a substantive governor ought by now to be in place. But
because of the impact of the slew of reforms implemented by the Tinubu
administration on domestic prices, the Central Bank's remit for maintaining
price stability has not been more important for domestic outcomes than it is
today. The genius of Mr Godwin Emefiele's tenure as governor was to point
out qualities that a holder of that office should not have.

 

At the very least, the CBN governor must understand the role of the apex
bank's staff in the design of appropriate policy responses. Given the fact
that these are professional economists weighing in on the more arcane areas
of their profession, it would help that the next central bank governor is an
economist - Mr Emefiele was not. And, the consequences were evident in his
many madcap schemes. He was a banker. For a while now, the local monetary
policy space has come to conflate the "banker" in the description of a
commercial bank staff with the "Bank" in the title of the CBN. Mr Emefiele
again underlined the fallacy of this reasoning.

 

PREMIUM TIMES prefers therefore that the vacancy in the office of the
governor of the CBN is advertised in four newspapers - two in Nigeria, and
two abroad (with global reach) - as part of a professional headhunting
process that ends with the recommendation of three names that the president
may then nominate for confirmation by the National Assembly. That way, we
may obtain a sense of the job description of the governor of the CBN. While
we understand that a deep understanding of the finer details of
macroprudential policies will underpin this job description, we do not
expect that it will include invitations to duel with economic entities that
the apex bank disagrees with.

 

PREMIUM TIMES believes that additional reforms to the organisation of the
Central Bank will be required. First, to correct the damage Mr Emefiele's
tenure wrought on the institution. Second, to make the bank fit for the task
of managing monetary policy in a private-sector driven and market-led
economy. In this sense, the most urgent is the requirement to separate the
regulation of financial institutions (banks inclusive) from the perception,
reinforced by Mr Emefiele's management style, that they are departments of
the apex bank. Up to a point, the requirement for this re-organisation is
met by separating the Central Bank from the Bankers' Committee. But we are
now persuaded that a more goal-appropriate response would go all the way to
hiving off the CBN's banking supervision unit as a stand alone section, so
that the central bank may more narrowly and properly focus on its price
stability remit.

 

The CBN's policy committee's relevance to the ongoing fight against rising
domestic prices means it is no less important a target for reforms. As
members of the policy committee, we believe that the deputy governors were
remiss regarding their bailiwick over the period Mr Emefiele was governor.
While the apex bank might do no worse than conduct a review of its
performance over this period, PREMIUM TIMES is convinced that it may need to
restructure the deputy governor function, such that each of them has policy
and operational oversight over one of the country's six geopolitical
regions. Sitting in these regions, understanding the peculiar business and
economic needs therein and attending policy meetings from there, should
improve the conversations at the meetings of the Monetary Policy Committee.

 

-Premium Times.

 

 

 

 

Nigeria: Weed Overgrows Lafia Cargo Airport Taken Over By Federal Govt

The Lafia Cargo Airport in Nasarawa State is yet to commence operation more
than 13 months after its commissioning by former President Muhammadu Buhari.

 

The state government under the leadership of the immediate past governor of
the state, Senator Umaru Tanko Al-Makura, had conceived the project as part
of the move to open the state for investment opportunities.

 

The airport, whose project cost was estimated at about N10 billion, was also
intended to ease cargo traffic at the Nnamdi Azikiwe International Airport
in Nigeria's capital, Abuja.

 

 

Former Governor Al-Makura made a show of flying out from the airport on his
handover date, showing that the airport was partially functional even though
it was not completed.

 

A-Makura's successor, Governor Abdullahi Sule, had promised that the project
would be delivered by the end of 2021.

 

"This airport is one of the priority projects that we believe we should
complete, even though building an airport is quite expensive and costing us
a lot of money.

 

"Hopefully, in the next few months we will have a control cabin brought in
and installed, and when that is done we will have other aeronautical devices
in place.

 

"The runway is 2.2km but our plan is to extend it to 2.5km so that we can
have all kinds of cargo planes land here. On May 29, 2019, the first flight
landed here and since then other planes have landed.

 

"We believe that before the end of the year, we will open the airport fully
for operations," the governor had explained through his deputy, Emmanuel
Akabe.

 

 

Sule, who assumed office in May, 2019, announced the completion of the
project towards late 2021.

 

The airport was therefore commissioned by former President Muhammadu Buhari
in February 2022.

 

Sule in July, 2022, hinted at plans by the federal government to take over
the facility.

 

In September 2022, a federal government team inspected the facility ahead of
the final takeover following a deal with the state government.

 

The delegation from the Federal Ministry of Finance, Budget and National
Planning was led by the permanent secretary, Mrs. Suzette Taylor-Lee Chee.

 

According to the leader of the federal government team, the inspection was
part of the process leading to the refund of the amount expended by the
state government.

 

 

After the inspection, the leader of the delegation gave assurance that in a
couple of weeks the ministry will get Federal Executive Council's (FEC)
approval for the money.

 

However, months after the inspection, the refund money has not been paid and
the airport is yet to commence full operation amid deteriorating facilities.

 

A state government aide with inner knowledge of the development told our
correspondent in confidence that although there is delay in the takeover
plans, the process is however on.

 

"Top ministry of aviation officials visited the facility recently so we are
hoping that all preparations towards the payment will commence soon," he
said.

 

Recently, the federal government under President Bola Tinubu renamed the
airport after the late Sheikh Usman Dan Fodio. Federal officials are,
however, yet to effect the name change at the airport.

 

Our correspondent reports that the airport came to life during the campaign
visits to the state by the leading presidential candidates ahead of the last
election.

 

Top stakeholders and big businessmen also fly in with private jets and
helicopters occasionally when the need arises.

 

When LEADERSHIP visited the facility last Monday, the only life there were
three security guards stationed there to prevent vandals from the area.

 

They declined to offer comments when our correspondent sought to know the
situation on ground.

 

A tour of the facility showed that the control tower had not been completed
although work stopped at an appreciable level.

 

Few metres away from the control tower, a section that looks like the cargo
area has totally collapsed on a nearby structure following a serious wind
storm, resulting in cracks all over it.

 

Our correspondent also observed that deep gullies have emerged in some parts
of the premises, with weeds gradually taking over other areas.

 

The state government officials said since the takeover deal had been signed,
the facility now belonged to the federal government.

 

"So whatever work that needs to be done at the facility is now the
responsibility of the Federal Ministry of Aviation," he noted.

 

-Leadership.

 

 

Nigeria: Zenith Retains Top Spot As Nigeria's Number One Bank By Tier-1
Capital for 14 Straight Years

Zenith Bank Plc has retained its ranking as the number one bank in Nigeria
by tier-1 capital in the 2023 Top 1000 World Banks' Rankings, published by
The Banker Magazine.

 

For the fourteenth year in a row, the bank has held its position as the
number one Tier-1 bank in Nigeria, emerging as the 467th Bank globally with
a Tier-1 Capital of $2.54 billion.

 

The rankings, published in the July 2023 edition of The Banker Magazine of
the Financial Times Group, United Kingdom, were based on the 2022 year-end
Tier-1 capital of banks globally.

 

The rankings continue to be the primary source for global bank financials
and are used by most international organisations in their assessments of
banks.

 

 

Zenith Bank's financial performance for the year was bolstered by an
impressive double-digit growth of 24 per cent in gross earnings, leading to
an improved market share in both the retail and corporate segments of the
market.

 

This occurred despite a persistently challenging macroeconomic environment
and headwinds.

 

Commenting on the ranking, the Group Managing Director/CEO of Zenith Bank
Plc, Dr. Ebenezer Onyeagwu, said, "Being ranked as the number one bank in
Nigeria by tier-1 capital for the 14th consecutive year attests to our
resilience as an institution despite a very challenging macroeconomic
environment and global headwinds.

 

"It is also an affirmation of our best-in-class service and commitment to
value creation for our highly esteemed customers."

 

 

He thanked the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, for
his foundational role in building the structures and setting the institution
on the path to continued success; the Board for their vision and outstanding
leadership; the staff for their unwavering commitment and dedication; and
the Bank's customers for their unflinching loyal support of the Zenith
brand.

 

Tier 1 capital describes capital adequacy, which is the core measure of a
bank's financial strength from a regulator's point of view.

 

According to the ranking, tier 1 capital, as defined by the latest Bank for
International Settlements (BIS) guidelines, includes loss-absorbing capital,
i.e., common stock, disclosed reserves, retained earnings, and minority
interests in the equity of subsidiaries that are less than wholly owned.

 

Zenith Bank became one of the latest companies to join the exclusive group
of stocks worth over one trillion, as its market capitalisation on the
Nigerian Exchange (NGX) crossed the N1 trillion mark in the third week of
June 2023. This followed the appreciation of its share price by 3.23 per
cent to close at N32 per share, taking its market capitalisation above a
trillion to close at N1.004 trillion.

 

The bank's track record of excellent performances has continued to earn it
numerous awards including being recognised as Bank of the Year (Nigeria) in
The Banker's Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria,
for three consecutive years from 2020 to 2022, in the Global Finance World's
Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022, in the World
Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World
Finance Corporate Governance Awards 2022; Best in Corporate Governance'
Financial Services' Africa, for four consecutive years from 2020 to 2023, by
the Ethical Boardroom; Most Sustainable Bank, Nigeria in the International
Banker 2023 Banking Awards; Best Commercial Bank, Nigeria and Best
Innovation In Retail Banking, Nigeria in the International Banker 2022
Banking Awards. Also, the bank emerged as the Most Valuable Banking Brand in
Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and
Retail Bank of the year, for three consecutive years from 2020 to 2022, at
the BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

 

Similarly, Zenith Bank was named as Bank of the Decade (People's Choice) at
the THISDAY Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank
of the Year 2022 by New Telegraph Newspaper, and Most Responsible
Organisation in Africa 2021 by SERAS Awards.

 

-This Day.

 

 

Rwanda: Scientists Call for Probe Into Deforestation, Illegal Mining

Environment and climate change experts have called for a probe into
deforestation, land degradation, and mining activities that have triggered
the increase in soil erosion and flooding leaving communities around Lake
Kivu vulnerable in Western province of Rwanda as well as the eastern part of
DR Congo.

 

A report , by 14 scientists including Prosper Ayabagabo-Climate and
Environmental Researcher at Rwanda Meteorology Agency virtually presented
says: "Deforestation in order to clear land for settlements, agriculture,
and mining, has resulted in widespread soil erosion around Lake Kivu both in
Rwanda and DR Congo, contributing to an increasing risk of landslides."

 

 

It said that the lack of capacity to enforce limits or regulation on land
degrading practices has been a big challenge around Lake Kivu.

 

The assessment of role of climate change in deadly floods affecting highly
vulnerable communities around Lake Kivu was conducted after May floods and
landslides. It concluded that there is urgently need for robust climate data
and research in this highly vulnerable region emphasizing that "The death
toll and destruction from the floods in South Kivu, DRC and western Rwanda
was extreme, and reflects the high vulnerability and exposure of people to
flooding in this region."

 

In May 2023, landslides and flooding in this region killed 135 people,
destroyed up to 5,963 houses leaving 20,326 people homeless after River
Sebeya bursting.

 

Landscape restoration is required on about 18,000 hectares that are under
risk of soil erosion on Sebeya River catchment to reduce induced economic
losses and floods that affect businesses surrounding the river in Rubavu,
Nyabihu, Rutsiro and Ngororero Districts.

 

 

According to the Sebeya Catchment Management Plan,soil loss quantification
revealed that about 8,000 hectares were under high risk, about 6, 000
hectares under very high risk while around 4, 000 hectares are under
extremely high risk of soil erosion.

 

Despite the recent deadly flooding and landslides, the situation has already
led to devising projects aimed to control the floods by restoring the
landscape, planting agroforestry, building terraces and check dams,
rainwater harvesting, improved cook stoves, among other interventions.

 

According to the scientists' report, While the DRC's mineral reserves are
critical for global manufacturing and the transition to a low carbon economy
and its forests act as a key carbon sink for the world's carbon polluters,
the country continues to suffer from the impacts of extreme weather which
are amplified by mining activities that contribute to land and water
degradation, labour abuses, and conflict.

 

 

At the beginning of May 2023, severe flooding around Lake Kivu devastated
communities in Rwanda and the Democratic Republic of Congo (DRC). Flooding
and landslides led to at least 595 fatalities with 460 reported deaths in
the DRC and 135 in Rwanda.

 

The increase in heavy precipitation with future warming is in line with
projections from the Intergovernmental Panel on Climate Change (IPCC) over
the whole of central and eastern Africa, which also show an increase in
heavy rainfall.

 

"While the scarcity of data does not allow us to draw any conclusions on the
role of climate change in the floods today, the potential for a further
increase in heavy rainfall in this flood and landslide prone area highlights
an urgent need to reduce vulnerability," reads part of the report.

 

More than 745,000 hectares of agricultural land in Rwanda potentially loses
its topsoil every year as the country counts more than Rwf800 billion losses
annually due to soil erosion.

 

"As after action review activities begin to take place in the region, and in
the acknowledgement that events like this may happen more frequently, it
will be essential for those involved to consider how this recovery can
contribute to adaptation by decreasing communities' vulnerability and
exposure to future events. At the very least, it will be critical to ensure
that recovery efforts are not putting these communities at increased risk
and creating failure to adaptation," the scientists report recommended.

 

Abias Maniragaba, an environmental expert, emphasized that afforestation and
reforestation, sustainable mining and good use of land is urgently needed it
western part of Rwanda and other parts of the country.

 

"The soil is no longer capable of resisting soil erosion due to agriculture
activities that do not conserve the environment. This has increased
landslides and flooding. Deforestation in the area should be controlled.
There might be climate change effects and therefore we need infrastructure
for adaptation," he noted.

 

Afforestation and reforestation are required on 39,901 hectares (4 percent
of the country land at risk).

 

Agroforestry is required on 101,232 hectares (9 percent of the total country
land at risk).

 

-New Times.

 

 

 

Nigeria: Despite Guidelines, Nigerian Airlines Not Paying Compensation for
Delays

Air travellers are appalled that owners of commercial airlines are getting
away with infractions like undue delays, cancellations, among others in
Nigeria, at the detriment of their passengers without being punished, Daily
Trust on Sunday reports.

 

Findings revealed that the situation is not the same in other countries in
Europe and the Americas, where passengers are heavily compensated by
airlines once there is delay or cancellation outside what aviation
regulations stipulate.

 

In Nigeria, the problem of flight delays and cancellations has become a
hydra-headed monster in the aviation industry.

 

Harrowing tales

 

Many passengers who spoke to Daily Trust on Sunday said the provisions on
passengers' rights are being observed in breach. According to them, despite
the provisions explicitly stipulated in the regulations, airlines usually
delay flights without providing any form of succour.

 

 

Hajara Ismail, who works in Lagos, said she was delayed for more than eight
hours by one of the airlines notorious for delays.

 

"I came to Abuja for weekend and booked with the airline to go back on
Monday. It was an 8am flight and I was at the airport around 6:30am, but
sadly, we were waiting until 9:30am when they announced that our flight had
been delayed for two hours because of technical glitch.

 

"It was that so-called glitch that lingered until 4pm when we were
evacuated. There was no serious apology and no refreshment. It is sad,
Nigerians are being taken for a ride," she said.

 

Michael Miha said he missed a job interview because of the delay he suffered
from Port Harcourt to Abuja.

 

"I am from Borno State and have a modest job in Port Harcourt, but I applied
for another one in Abuja when a friend advised that I should go for it.

 

 

"Considering that the interview was scheduled for 10am, I booked a 7am
flight and another one for 2:30pm to come back to Port Harcourt. To cut the
story short, the one for Abuja delayed for 3 hours, and by the time we
arrived, it took me over an hour from the airport to the venue. Everything
was over and I missed the opportunity; and there was no compensation," he
said.

 

Another passenger who shared an experience with our correspondent said, "I
travelled from Lagos to Uyo recently and had an initial one hour delay due
to weather. Finally ready to board at 0800, at the tarmac, all passengers
were informed that no baggage would be loaded on the flight. Reason? The
flight would operate with EMB-145. There was no fuel in Uyo, so they would
lift fuel sufficient for Lagos-Uyo, plus next flight destination from Uyo.

 

 

"We were told that our bags would be sent to Abuja to connect the Abuja-Uyo
flight, estimated to arrive in Uyo by 12:35. We arrived in Uyo at 0930. On
arrival at Uyo, a fuel bowser came and refuelled the aircraft that brought
us.

 

"What really was the reason for not carrying any of the passengers' baggage?
Why would passengers wait for three hours plus in Uyo airport to receive
their baggage from a flight they are not sure would bring the bags?
Passengers are really suffering," she said.

 

Some of the passengers also blamed the regulatory authority for not being up
and doing in addressing some of these challenges.

 

Otunba Ademola, a passenger said, "I had a bad experience with a Nigerian
airline when it was still flying to London. Our flight was cancelled, and up
till today, I have not been able to get a refund because the airline has
stopped operating that route. I have made up my mind that I would not have
anything to do with the airline again. Nigerian carriers need to wake up.
They ought to have perfected this a long time ago."

 

Situation in other countries

 

This is, however, different from what is obtainable in developed countries,
especially the Unites States and Europe, where passengers can claim huge
amounts of money in compensation for delays.

 

For instance, in the US, there is a maximum of $700, roughly N525,000 at
N750/$ (excluding accommodation and food costs, which airlines may have to
cover) for delaying passengers.

 

But even short delays can incur penalties of $200 or more. Delayed flights
can take off or land in any European Union (EU) nation, along with
associated nations like Switzerland, Iceland and Norway (or the UK).

 

It was, however, gathered that for the compensation to be made, the airline
must be at fault to some degree. Claims probably won't be accepted if
extreme weather situations were to blame, which is classified as force
majeure.

 

A Nigerian passenger told our correspondent how he was paid a compensation
of $872, now N654,000 (including cost of feeding) by an airline in the US
for delaying him for over three hours after the flight he was supposed to
travel in was over-booked. He wondered why it is a different scenario in
Nigeria.

 

"I was scheduled to travel from Washington to Pittsburgh and I was at the
airport on time. I checked in my luggage and collected my boarding pass.
However, when it was time for boarding, they discovered that there was no
seat number on my boarding pass. They apologised and asked me to wait. After
about 10 minutes, they discovered that my seat was given to a different
passenger and the aircraft was fully booked.

 

"The man at the counter sincerely apologised and said it was a rare
occurrence. He gave me another boarding pass to Pittsburgh en route New
York, and at the same time, a cheque of $872 dollars as compensation. It was
unbelievable. All these were completed in minutes," the passenger said.

 

 

Sunday Henry, who also suffered delay in the US, said he was compensated. "I
was given money for the delay and refreshment while waiting for the next
flight. It was awesome. It was very difficult to argue with the airliner
because they treated you well and they genuinely apologised for the delay,"
he said.

 

"Here in Nigeria, passengers go through very traumatic experiences without
any form of compensation. Very few airlines would bother to give you water
and biscuits while waiting," he said.

 

Running battle

 

Over the years, there has been a running battle between airlines and
passengers over undue delays and cancellation of flights.

 

This has resulted in passengers going haywire and attacking staff of
airlines and equipment at the airport.

 

The major attack was in April last year when some passengers of Max Air at
the Nnamdi Azikiwe International Airport, Abuja, went berserk over the delay
of their flight, venting the anger on the airline staff while facilities of
the airline were destroyed.

 

The same attack was recorded at the Murtala Muhammed Airport, Lagos as
Lagos-Kano passengers also took on the airline's staff for delaying the
flight.

 

The situation angered the Airline Operators of Nigeria (AON), which issued a
strongly worded statement, saying, "The unruly passengers that went after
Max Air and destroyed the computer reservation systems further exacerbated
the problem for other passengers going to other destinations."

 

The president of the AON, Abdulmunaf Yunusa Sarina added, "Such acts are
completely unacceptable."

 

The several attacks on airline passengers have, however, not solved the
problem of flight delays in the country's aviation sector, Daily Trust on
Sunday gathered.

 

A report compiled by some aviation professionals estimated that over $52.7
million was lost annually to flight delays.

 

In the analysis of the cost impact of flight delays released by the General
Sales and Solution Management Limited (GSSM), an aviation consultancy firm,
the experts estimated that $4.3million was lost monthly to arrive at the
yearly loss of $52.7m or N24.2 billion

 

The report released by the Founding Partner/Executive Director of GSSM,
Babatunde Adeniji, came a few days after the Nigerian Civil Aviation
Authority (NCAA) released the 2022 Executive Summary of International and
Domestic Flight operations, indicating massive flight delays by the domestic
airlines.

 

The summary indicated that 11 domestic airlines operated 80,328 flights with
47,144 of the flights delayed between January and December 2022.

 

The 11 airlines included Aero Contractors, Arik, Azman, Dana Air, Overland,
Air Peace, Max Air, Ibom Air, United Nigeria, Green Africa and Value Jet.

 

Adeniji, in his analysis, explained that "report card was filled in red,
showing that we failed as an industry to even make the pass grade.

 

"Domestic airlines as a whole were only punctual for 41 per cent of operated
flights, with Ibom Air and Green Africa and Value jet (new entrants) being
the outliers among the 11 operators," he said.

 

We're not exclusively responsible - Operators

 

However, airline operators insist that flight delays were inevitable in the
circumstances they operate.

 

According to them, apart from unexpected technical glitches to aircraft,
there are also occasions of force majeure, which might cause flight delays.
These include heavy downpour, the harmattan haze, which reduces visibility
during aircraft landing and take-off.

 

On its part, the AON listed other causes of flight delays to include
inadequate parking space for aircraft on the apron sometimes leading to
ground accidents, inadequate screening and exit points at departure,
inefficient passenger access and facilitation, natural and unforeseen
circumstances, such as weather and catastrophic failures (bird strikes and
component failures), and restrictions caused by sunset airports, among
others.

 

Also listed among the causes is VIP movements, especially in Abuja, the seat
of power, which have often triggered massive flight delays and cancellations
in some instances.

 

Efforts to speak to some of the airlines individually were not successful as
all of them said they didn't talk in isolation as they have an umbrella
body.

 

When contacted, the vice president of AON, Mr Allen Onyema, told our
correspondent that 95 per cent of causes of flight delays were outside the
control of the airlines.

 

He alleged that this is why passengers should always exercise restraint when
flights are delayed because they are mostly not caused by them.

 

He said, "I still say it and I stand by it. The AON also stands by it.
Ninety five per cent of the delays Nigerians experience flying domestic
operations are caused by things beyond their control.

 

"Let's start with when you have your aircraft on ground and you need to get
a spare part. To clear with Customs might take you days or weeks. There is
another one called end user certificate. My aircraft was on the ground
sometimes for three months to get an end user certificate because some parts
of the aircraft are classified as dangerous goods. I am not exaggerating and
other airlines are facing the same thing. Things like this deplete your
capacity.

 

"Secondly, you talk of airport infrastructure. I have told you what is
happening in Abuja. Once your flight leaves on time from here to Abuja
during that peak time in the morning, all the airlines are cramped into one
small place, which has no conveyor belt and you are given two counters each
when Air Peace alone is doing 28 to 30 flights out of Abuja alone, not to
talk of other airlines.

 

"Again, most airports don't have night landing facilities. So what you do in
order not to cancel flights is to sacrifice Lagos, Kano, Port Harcourt or
Abuja, where you have night landing facilities. This is happening every day.
Is that the fault of the airlines?

 

 

"You also have the issue of bird strike. Who is supposed to pursue the
birds? Once you have a bird strike, where the aircraft is scheduled to go
for that day would be affected," he said.

 

He decried that airlines and their staff had suffered undue attacks over the
delay of flights, saying, "We need to be protected."

 

Existing regulations on flight delays, cancellations

 

The immediate past Minister of Aviation, Senator Hadi Sirika, once said the
passengers' rights were protected in the existing civil aviation
regulations.

 

According to him, on domestic flight delays beyond one hour, the carrier
should provide refreshment and one telephone call, one text message or
e-mail. They should send you an SMS or email, or call you to say, 'I am
sorry, I am delaying for one hour.'

 

"For a delay of two hours and beyond, the carrier shall reimburse passengers
the full volume of their tickets.

 

"Delay between 10pm and 4am, the carrier shall provide hotel accommodation,
refreshment, meal, two free calls, SMS, email and transport to and from
airport," Sirika said, noting that the same rules would also be applied to
international flights.

 

Part 19.6 of the Nigeria Civil Aviation Regulations (Nig. CAR) 2015 as
amended, which talks about domestic flights delays states, "When an
operating air carrier reasonably expects a flight to be delayed beyond its
scheduled time of departure, it shall provide the passengers with reason for
the delay within 30 minutes after the scheduled departure time and the
assistance specified thus: after two hours, refreshment as specified in
section 19.10.1, and telephone calls, SMS and e-mails as specified in
section 19.10.2 ; beyond three hours, reimbursement as specified in Section
19.9.1(i) ; and at a time beyond 10pm till 4am, or at a time when the
airport is closed at the point of departure or final destination, the
assistance specified in sections 19.10.1(iii)and 19.10.1(iv) (hotel
accommodation and transport)

 

In case of cancellation of a flight, the passengers concerned shall,
according to section 6 of the part: (i) Be offered assistance by the
operating air carrier in accordance with sections 19.6 and; (ii) be offered
assistance by the operating air carrier in accordance with sections19.9.1(i)
and 19.9.2, as well as, in the event of re-routing when the reasonably
expected time of departure of the new flight is at least the day after the
departure as it was planned for the cancelled flight, the assistance
specified in Sections 19.9.1(ii) and 19.9.1(iii) ; in respect of domestic
flights, have the right to compensation by the operating air carrier in
accordance with section 19.10 unless they are informed of the cancellation
at least twenty-four hours before the scheduled time of departure."

 

Experts speak

 

An aviation analyst, Sheri Kyari, an engineer, said it would be a welcome
development if the new regulations stipulated 100 per cent refund to
passengers.

 

He said, "Definitely, this will help to wake up airlines to their
responsibility to their customers. Secondly, it should make them see the
necessity to go into code sharing, where they can check in passengers into
other airlines rather than cancel flights and refuse to refund passengers
their money for them to move on to other carriers. This will be great for
passengers. In fact, not only refunding 100 per cent but with a 10 per cent
of the air fare to fully compensate them.

 

"To be sure passengers are well compensated requires full implementation by
the Authority and, may be, passengers having class actions in courts against
erring airlines. When airlines find out they are losing a lot they will sit
up. This can also lead to airlines reducing their flight schedules to
manageable numbers because as it stands today, airlines try to operate very
unrealistic schedules with fewer aircraft in the fleets."

 

The Director of Training and Research, Zenith Travels, Mr. Olumide Ohunayo
said the regulations had been there but there has not been compliance and
sanction.

 

"I think it has always been there. I just hope the airlines would see how
they would comply with these regulations and also avoid this issue of
cancellation by going into code-sharing with other airlines to lift their
passengers and then work out remittance. So the rules have always been there
to help passengers in terms of distress and flight cancellations and delays,
but sanction for non-compliance has always been the issue," he said.

 

The general manager, Public Relations of the NCAA, Mr. Sam Adurogboye, in a
chat with our correspondent said, "The NCAA position is that passengers are
the reason we are in business.

 

"The NCAA will back an operator of a flight that is to be delayed on account
of bad weather or have issues with fuelling or engine problems or any other
snag. But passengers must be carried along. Anything short of that will not
be allowed by the Authority. Violation of our regulations is viewed
seriously in the NCAA and appropriate sanction is meted out accordingly."

 

'Why we're against new regulation'

 

Onyeama said the issues he raised were partly the reason airline operators
expressed reservation over the new regulations being proposed by the Nigeria
Civil Aviation Authority (NCAA), which stipulates 100 per cent refund for
passengers who suffered flight cancellations.

 

Recall that the director-general of Civil Aviation (DGCA), Captain Musa Nuhu
recently hinted about the proposal to ensure that air passengers would get
100 per cent instant refund anytime an airline cancels a flight.

 

He said, "We are currently reviewing our regulations to review what's done
in the past that gives some days for refund if my flight is cancelled.

 

"What we have in the new regulation that will be signed into law very soon
when it is all cleaned up is that if you cancel my flight you should put me
on another flight or give me the option of getting a refund immediately so
that I can make other plans," he said.

 

Passengers can sue airlines if ...

 

An Abuja-based lawyer, Chinelo Ogbazor Esq said airlines could be sued for
damages if they breach the contract with their customers through
cancellation of flights or inability to mitigate the loss incurred by a
customer.

 

"If it is the act of God or acts or state beyond the control of the
airlines, then parties will bear their respective costs," she said.

 

However, Kenechukwu Ifekwe said airlines may not be liable if they expressly
stated in their terms and conditions what may happen in the course of the
transaction.

 

"They are very smart and cover their failings using the terms and
conditions. In Nigeria the refunds and lodgements are not made as of asking,
it is very hard" he said.

 

Passengers can sue airlines if ...

 

An Abuja-based lawyer, Chinelo Ogbazor said airlines could be sued for
damages if they breach the contract with their customers through
cancellation of flights or inability to mitigate the loss incurred by a
customer.

 

"If it is the act of God or acts or state beyond the control of the
airlines, then parties will bear their respective costs," she said.

 

However, Kenechukwu Ifekwe said airlines may not be liable if they expressly
stated in their terms and conditions what may happen in the course of the
transaction.

 

"They are very smart and cover their failings using the terms and
conditions. In Nigeria the refunds and lodgements are not made as of asking,
it is very hard," he said.

 

-Daily Trust.

 

 

 

Uganda to Connect Refugees to Fast Internet

Kampala, Uganda — The Ugandan government partnered with the World Bank to
launch the Universal Digital Acceleration Program to provide Internet access
to Uganda's refugee communities.

 

Uganda is one of the top countries in the world for hosting refugees, with
the most refugees recorded in all of Africa.

 

As of June 2022, Uganda was home to over 1.5 million refugees, most of whom
had fled South Sudan. The northern Ugandan districts of Adjumani and Yumbe
hosted about one-third of all refugees.

 

Consequently, the five-year programme, starting July 1, 2023, plans to
provide these refugees with essential digital skills, develop new
educational infrastructure, and teach them new language skills to make them
employable.

 

Uganda's Permanent Secretary for ICT and National Guidance, Amina Zawedde,
announced this at an event co-hosted by MTN Uganda, the Uganda Small Scale
Industries Association, and Centenary Industries Limited.

 

These organisations teamed up to raise Shs15 million ($4,000) to expand the
computer lab at Refugee and Hope International, a non-profit refugee home in
Kampala, Uganda.

 

Refugee and Hope provide language study, entrepreneurial training, and
counselling for those with post-traumatic stress disorder due to their home
country's crisis.

 

-Independent (Kampala).

 

 

 

 

South Africa: Government Focused On Ending Load Shedding, Building a Buffer

Minister in the Presidency responsible for Electricity, Dr Kgosientsho
Ramokgopa, has reaffirmed government's commitment to finding solutions to
end load shedding.

 

Briefing media on progress in the implementation of the Energy Action Plan
in Pretoria, Ramokgopa reassured South Africans that, working with a team of
competent engineers at Eskom and the leadership of the Board, significant
strides are being made.

 

"I want to give you confidence that we are going to resolve this, it's an
engineering problem. I eat, breathe and sleep [finding] solutions to load
shedding and I'm confident that with the team that is helping us, we will be
able to resolve load shedding," he said on Sunday.

 

"We will get out of load shedding and build a buffer and ensure that the
South African economy is able to realise its potential," Ramokgopa said.

 

Government had projected that in winter the country would hit the highs of
34 000 Megawatts, but it has not reached anything close to this. The
Minister attributed this to a change in South Africans' and industries'
attitude towards reducing their electricity demand.

 

 

Giving an update on the previous five-day average ending on 30 June 2023,
Ramokgopa said the current available capacity was beginning to plateau at
about 29 913 Megawatts, compared to 28 664 Megawatts of capacity which the
country was sitting on from 26 June 2023.

 

"We are making significant improvements of about 1 300 Megawatts of
improvement [and] what is encouraging for me is that we are beginning to
maintain that," Ramokgopa said.

 

He said South Africa was beginning to keep up with the demand and this had
resulted in no load shedding for significant periods of the day.

 

However, the Minister emphasised that there was a need to ensure that
generation far exceeds demand.

 

"In that way we would be able to pull a number of units through planned
maintenance and we would be able to build a buffer, so that, as the South
African economy continues to grow and recover, we would have sufficient
generation capacity."

 

The Minister said it was worth noting that in the midst of winter they were
able to ramp up planned maintenance, which he said is "an illustration of a
system that is recovering".

 

Focus on partial load losses

 

Partial load losses was an area receiving attention, Ramokgopa said, adding
that government was tapping into expertise outside of Eskom to go and work
with General Managers at various stations.

 

"We are able to diagnose and determine the root causes of the failures from
one unit to the other - what are the common failures that are responsible
for the failing of that unit and/or responsible for the partial load losses?
Then we know the biggest culprits on the units going out is boiler tubes,
quality of the coal, us keeping to the emission parameters.

 

"We are very meticulous [and] deliberate. There's is a degree of granularity
on how we are beginning to understand the performance of these units and the
kinds of skills and interventions that are required to help us to address
this situation," Ramokgopa said.

 

Transmission remains a vulnerable area

 

Meanwhile, the issue of transmission needs to be addressed.

 

The Minister said this remained a vulnerable area and required urgent
attention as it undermines the ability to bring on board new generation
capacity from renewable energies that give the best returns.

 

"If you have to do a wind atlas, the best areas for you to have wind is the
coastal areas of the Western Cape and Eastern Cape. It is exhausted in the
Northern Cape, it is about to be exhausted in the Western Cape [and] it is
not sufficient in the Eastern Cape, to accommodate the amount of energy that
we want to introduce," he said.

 

He said Eskom is working on a transmission development plan, but the issue
is around finance.

 

Ramokgopa said this required an innovative plan.

 

-SAnews.gov.za.

 

 

 

Rwanda: Construction of Rusizi Port Underway

The construction of Rusizi Port, aimed at facilitating the transportation of
people and goods on Lake Kivu, has resumed, The New Times has learned.

 

Rusizi Port is part of a larger initiative to enhance water transport and
bolster trade between Rwanda and the Democratic Republic of Congo. The port
is considered a major ongoing project in Rusizi town.

 

In an exclusive interview with The New Times, Louis Munyemanzi Ndagijimana,
the Vice Mayor for Economic Development, revealed that the port's
construction, which is expected to be fully completed by December, 2024 is
at 20 percent.

 

 

Once completed, Rusizi Port will have the capacity to accommodate 2.3
million passengers and handle 1.3 million tons of cargo annually.

 

"The port holds immense importance for Rusizi town, as many business
activities, trade, and other essential operations occur on Lake Kivu. Having
the port in place will facilitate the transportation of goods, especially
cement and local products, from Rwanda to DR Congo's Bukavu or Goma,"
Ndagijimana said.

 

He added, "It will also simplify the transportation of people between the
islands of Ishwa, Nkombo, and other areas in DR Congo, as well as provide
convenient navigation for Nkombo residents using the boat donated by
President Paul Kagame."

 

Addressing the reasons why the project was put on hold, Munyemanzi revealed
that the construction faced unforeseen challenges related to soil
conditions, necessitating soil improvement measures.

 

Théoneste Minani and Pacy Nikuzwe, residents of Kamembe Sector in Rusizi
town, expressed their optimism about the significance of the port for the
district's development.

 

"We anticipate a surge in the number of people visiting the town, which will
facilitate movement among the districts along Lake Kivu," Minani said.

 

Nikuzwe added, "The port will contribute to the growth of Rusizi town, and
we are hopeful that it will become a vibrant hub."

 

The construction of Rusizi Port commenced on January 18, 2023, and is part
of a larger endeavor to construct ports and improve transportation on Lake
Kivu in Rubavu, Rusizi, Rutsiro, and Karongi districts.

 

Official data reveals that the government, in collaboration with development
partners, has allocated a budget of $28 million, approximately Rwf26
billion, for the construction of four new ports and ferries to bolster trade
between Rwanda and DR Congo.

 

-New Times.

 

 

 

 

Kenya: We've Had 7 Million Kenyans Removed From Credit Reference Bureau
Blacklist - Ruto

Nairobi — President William Ruto has said seven million Kenyans have been
removed from the Credit Reference Bureau (CRB) blacklist.

 

Speaking on Sunday during a church service in Molo, Nakuru County, Ruto said
he had kept his word to deepen financial inclusion.

 

"We have made that commitment come true. Seven million Kenyans who were
blacklisted in CRB all of them have been removed," Ruto said without
pointing to the source of his findings.

 

Ruto had promised to have at least four million Kenyans opted out of adverse
CRB listing.

 

Addressing a joint press conference with CEOs of Safaricom, KCB and NCBA in
September 2022, he stated that the action is crucial because many
individuals have been shut out of formal borrowing.

 

 

"I am very happy that between four to five million Kenyans will be out of
the CRB blacklist by the beginning of November," he said at the time.

 

"This is very important; 4 million Kenyans have been excluded from any
formal borrowing because of blacklisting. They have been left at the mercy
of shylocks."

 

He pushed for the recalibration of the CRB listing mechanism and asked the
credit bureau to travel the road with "hustlers" to avoid disadvantaging
those at the bottom of the economic pyramid.

 

"Governor please explain to our people in the CRB space that we should
change the model of listing so that we do not make an all-or-nothing
process, and unfairly disadvantage borrowers," he told then Central Bank
boss Patrick Njoroge.

 

-Capital FM.

 

 

 

Botswana and De Beers Ink a Last-Minute, 10-Year New Deal On Diamond Sales

Botswana and diamond miner De Beers announced on Saturday they had reached
an 'agreement in principle' on a new 10-year sales agreement. This came
hours after the previous sales agreement expired on Friday, 30 June, so
there must have been some serious nail-biting in the boardroom.

 

A diamond may be forever, but an agreement to sell or mine the precious
gemstones is not.

 

De Beers and the government of Botswana, after lengthy and at times
apparently tense negotiations, finally clinched a 10-year new sales deal to
2033 as the old one expired. De Beers produces rough diamonds in Botswana,
the world's second-leading source of the gemstones after Russia, through
Debswana, a 50-50 joint venture with the government. Anglo American has an
85% stake in De Beers.

 

 

In the terse statement that was issued on Saturday, no details of the
agreement were unveiled.

 

"The transformational new agreement between Botswana and De Beers reflects
the aspirations of the people of Botswana, propels both Botswana and De
Beers forward, and underpins the future of their Debswana joint venture
through long-term investment," it said.

 

"While the partners finalise the implementation of the formal Sales and
Mining Agreements, an Interim Agreement will preserve the terms of the most
recent Sales Agreement, which expired on 30 June."

 

This signals that some i's are still being dotted and some t's are still
being crossed, which means that some lawyers are coining it. Agreement in
principle was also reached on new 25-year Debswana mining...

 

-Daily Maverick.

 

 

 

Liberia: Solidaridad and Netherlands Hand Over Oil Palm Mills to SMEs in
Liberia

Solidaridad and the Embassy of the Netherlands in Accra, Ghana have handed
over four, efficient oil palm processing mills to four small and medium
enterprises (SMEs) in Liberia.

 

The beneficiary SMEs are located in the Grand Bassa, Lofa, and Nimba
counties, respectively. Solidaridad is an international civil society
organization.

 

The mills, according to a release, can process up to three tonnes of fresh
fruit bunches per hour.

 

They are supporting the SMEs to scale up their processing activities,
enhance farmers' access to markets for oil palm fruit, and improve the
production of palm oil in Liberia.

 

 

The mills were constructed as part of the interventions under the
Sustainable West Africa Palm Oil Program (SWAPP) implemented by Solidaridad
from 2018 to 2022 in Liberia, Cote d'Ivoire, Sierra Leone, and Ghana.

 

The Embassy of the Kingdom of Netherlands in Accra provides the funding. The
program has contributed to increasing the productivity, inclusivity, and
sustainability of the West African palm oil sector through micro, small, and
medium enterprises that provide farm management and milling services.

 

The Embassy of the Kingdom of Netherlands, through SWAPP, funded the design,
fabrication, and installation of the machinery and equipment and related
operating and maintenance training.

 

The beneficiary enterprises -- Kpailama Agro Incorporated, Local Farm,
Rainforest Agriculture Incorporated, and JEF Merchandise -- provided the
land, factory building, and related infrastructure.

 

 

Boosting the oil palm sector by fulfilling an urgent need

 

For years, smallholder farmers in Liberia's quest to process their fresh
fruit bunches into crude palm oil have been on the decline due to less
efficient mills and, sometimes, unhygienic pits that are operated manually
and require a lot of time and energy, as well as pose safety challenges.

 

The four new mills have an oil extraction rate of about 14% which is an
improvement over existing artisanal mills with a rate of less than 9%.

 

They have provided over 200 direct jobs for residents of the communities
where they operate, including youths and women, and more than 700 indirect
jobs in the supply chain.

 

Sylvester Kpai, Chief Executive Officer of Kpailama Agro, one of the
beneficiary SMEs in the Lakker community in Nimba County, said the mill has
enabled his company to process the first hygienic edible oil for sale in
various markets.

 

 

"Most of our previous products were sold to customers who use the oil mainly
for cosmetic products. Today, we are producing and packaging edible oil that
ends up on dinner tables, in restaurants, and on the market," he said.

 

Collectively, the mills are currently serving over 5,000 smallholders and
out-growers in the counties where they are located. The smallholders have
recorded a sharp increase of more than two times in their production and
income.

 

"We could not have attained the level of transformation in the livelihoods
of these farmers and processors in Liberia if they had continued using the
pits and manual machines we met when we began the intervention," said Isaac
Gyamfi, Regional Director of Solidaridad West Africa.

 

He said he was glad that today, many lives have been positively impacted
because of these installations.

 

"These mills have made processing a lot easier for the farmers and
processors, increasing their productivity as well as income," said Gyamfi.

 

The Ambassador of the Netherlands to Ghana, Liberia, and Sierra Leone,
Jeroen Verheul, believes the contribution of his government has been
significant in directly impacting the livelihoods of smallholder farmers.

 

"The Netherlands actively promotes trade and investment in West Africa. This
goes beyond enabling Liberian smallholder farmers to produce and sell more
of their products," he said.

 

Amb. Jeroen noted that promoting local processing of raw materials in
Liberia is one of the explicit objectives that has been achieved with the
construction, handing over, and operation of these oil mills.

 

"The Embassy looks back on strong collaboration with Solidaridad, the
beneficiary enterprises, and the Liberian authorities, enabling us to have
achieved this significant result," Amb. Jeroen said.

 

-New Dawn.

 

 

Nigeria: 9 Illegal Refineries With 1m/Bpd Production Capacity Uncovered in
Bayelsa

As the ongoing war against crude oil theft and illegal refineries in Niger
Delta intensifies, no fewer than nine illegal refinery sites with a combined
total daily production estimated to be more than one million barrels have
been uncovered in three communities in Bayelsa State.

 

The sites were uncovered by operatives of Daven Oil and Security
Enterprises, one of the Federal Government pipeline security contractors in
Niger Delta in collaboration with the Joint Task Force, JTF, Nigeria
Security and Civil Defence Corps, NSCDC, and the media.

 

The discovery of the sites was carried out under "Operation No More Smoke"
embarked upon by Daven Security Enterprises, aimed at eradicating the region
of illegal oil bunkering activities.

 

 

The illegal refineries commonly called kpofire in local parlance were
uncovered in Okordia/Zarama/Biseni in Yenagoa LGA and the boundary
communities of Ibelebiri and Otuege(Agba) in Ogbia LGA of the state.

 

Speaking to newsmen, weekend, at one of the busted illegal refinery sites
located 8 kilometres inside the swamp forest of Zarama Clan, spokesman and
Mobilization Officer of Daven Oil and Security Enterprises, Okardi Yogo,
said a total number of nine sites had so far been uncovered during the
operation.

 

Yogo said: "This is a baby operation, Daven Oil and Security Limited is one
of the pipelines surveillance security taking charge of a section of the
Niger Delta. We are here kick-starting the 'Operations No More Smoke', we
are on discovery sessions, which have yielded good results.

 

"Based on intelligence reports and support from our grand patron, General
Amagbein Boro, we were able to uncover sites with about 15 oven (tanks) with
a capacity of 450,000 litres daily production in Okordia/Zarama/Biseni in
Yenagoa council.

 

 

"We had difficulty accessing the sites because they are tucked away about
eight kilometres across the Taylor Creek in the swamp forest. We trekked for
more than three hours before we got to the locations. We also discovered
that the operators were tapping (sourcing) their production from Shell
Petroleum Development Company, SPDC, pipelines in the area.

 

"We have also visited sites in Ibelebiri and Agba communities in Ogbia
council of Bayelsa State and we have also uncovered in these areas, many
tanks been constructed by illegal refineries operators with production
capacity of more than 500,000 barrels per day, and one of the standouts of
that operation was the visible environmental impact. We saw a two hectares
of land totally destroyed by activities of artisanal crude oil refining.

 

"We will continue to uncover more and fetch them out from the roots. Our
mandate is to protect the environment and oil facilities to boost oil
production and the Nigerian economy, that is the task given to us and we
will continue to collaborate and sensitize the communities and work with the
leaders of the community.

 

"The message is very clear, that is not business as usual, therefore, we are
calling on all those who are involved in these activities to desist from it
and partner us, so that the modular refineries we are clamouring for will
come to us.

 

"This is a technical operation, we are on it and we will not give up until
we bring oil theft to a halt."

 

-Vanguard.

 

 

 

New Zealand bans plastic bags for fresh produce in supermarkets

New Zealand has become the world's first country to expand its ban on
plastic bags in supermarkets to thin bags, which are typically used to hold
fruits or vegetables.

 

The move, which took effect on Saturday, is part of a wider government
campaign against single-use plastics.

 

Most shoppers already bring their own bags to stores after take-home plastic
bags were banned in 2019.

 

In recent years, many countries have imposed a fee or ban on plastic bags.

 

"New Zealand produces too much waste, too much plastic waste," Associate
Environment Minister Rachel Brooking said.

 

She added more than one billion plastic bags had been saved since the ban on
thicker bags took effect in 2019.

 

The new move is expected to prevent the usage of 150 million plastic bags
per year.

 

How Australia is seeing 'big shift' on plastic waste

NZ proposes taxing cow burps to reduce emissions

Critics have raised concerns that shoppers may just place groceries in
disposable paper bags, which are still available in supermarkets.

 

"It's still worth doing this, but we really want to reduce single-use
anything packaging," Ms Brooking said.

 

"So we want people to be bringing their own bags, and supermarkets are
selling reusable produce bags," she added.

 

Supermarket chain Countdown, which operates more than 185 stores across the
country, has started selling reusable polyester mesh bags.

 

The company hopes this will encourage shoppers to use reusable bags for
fruits and vegetables.

 

"We know change is hard and (it) will take them a little while," said
Catherine Langabeer, the head of sustainability at Countdown. "We get some
grumpy customers."

 

The New Zealand government has made progress on other initiatives to tackle
climate change.

 

In October, it proposed taxing the greenhouse gases produced by farm animals
like sheep and cattle.

 

The world's first scheme will see farmers paying for agricultural emissions
in some form by 2025.

 

The country's farming industry accounts for about half of its
emissions.--bbc

 

 

 

Energy boss says prices might rise this winter

Energy prices could spike this winter forcing governments to step in and
subsidise bills again, the head of the International Energy Agency has said.

 

If the Chinese economy strengthens quickly and there is a harsh winter, gas
prices could rise, putting pressure on consumers, Fatih Birol said.

 

He added that governments should push for energy-saving and boost
renewables.

 

However, a UK government spokesperson said energy bills are set to fall by
an average £430 this month.

 

Gas prices soared after Russia's invasion of Ukraine, driving up energy
bills around the world.

 

A number of governments then stepped in with support for households,
including in the UK, to try to soften the blow to consumers.

 

The IEA is an agency that works with governments and industry to provide
data, analysis and recommend policies.

 

Mr Birol told the BBC's Today programme that many European governments made
"strategic mistakes", including an over-reliance on Russia for energy, and
that foreign policy had been "blindfolded" by short-term commercial
decisions.

 

He said this winter "we cannot rule out" another spike in gas prices.

 

"In a scenario where the Chinese economy is very strong, buys a lot of
energy from the markets, and we have a harsh winter, we may see strong
upward pressure under natural gas prices, which in turn will put an extra
burden on consumers," he said.

 

The Chinese economy had been bouncing back after Covid restrictions were
lifted, but recently its economy has been slowing down.

 

Ratings agency S&P Global this week cut its forecast for Chinese growth,
saying "the risk is that its recovery loses more steam amid weak confidence
among consumers and in the housing market".

 

Investment banks including Goldman Sachs have also been cutting forecasts
for Chinese growth.

 

Nevertheless, Mr Birol said governments including the UK should "continue to
push measures to save energy, especially as we enter the winter".

 

They should also push renewable technologies so they "see the light of day
as soon as possible" and cut the time it takes for them to get permits, and
look for "alternative energy options", he said.

 

He said he "wouldn't rule out blackouts" this winter as "part of the game".

 

"We do not know yet how strongly the Chinese economy will rebound," he said.

 

National Grid said last winter that short power cuts were a possibility - in
the end, this was not necessary.

 

A UK government spokesperson said: "We spent billions to protect families
when prices rose over winter covering nearly half a typical household's
energy bill, with them set to fall by around £430 on average from this
month."

 

Domestic gas and electricity bills in the UK fell at the weekend after a
change to the energy price cap came into force, and a further, smaller fall
is expected this winter.

 

However, with the annual energy bill of a typical household set to be about
£2,000, costs are still much higher than the pre-pandemic norm.

 

Last week the head of Centrica, which owns British Gas, warned energy bills
were likely to stay high for the foreseeable future.

 

Oil licences

Russia's war in Ukraine led to a "gold rush" of new fossil fuel exploration,
and the UK defied climate warnings by issuing a new licensing round for
North Sea oil and gas.

 

More than 100 applications have been submitted to drill for new oil and gas
in the North Sea.

 

This was at odds with international climate scientists who say fossil fuel
projects should be closed down, not expanded.

 

They say there can be no new projects if there is to be a chance of keeping
global temperature rises under 1.5C.

 

Mr Birol said "if the world is serious" about the "climate cause" then "we
have to reduce the use of oil and gas significantly in the next years to
come".

 

If we can reduce consumption, existing oil and gas fields will be enough to
meet declining demand, he added.

 

He said he has discussions with the chief executives of UK oil companies.

 

Mr Birol said he has "no problem" with oil firms making profits, but if they
say: "I am going to increase my production by four million barrels per day,
and my company's strategy is in line with the Paris Climate Agreement - it
doesn't work, there is a problem here."

 

The Rosebank field in the North Sea, which has the potential to produce 500
million barrels of oil, could be approved by the government within weeks.

 

The UK government said it was "committed to reaching net zero by 2050 and
have already come a long way to meet that target, cutting emissions faster
than any other G7 country while keeping the economy growing and with
low-carbon sources like renewables and nuclear providing half of the UK's
electricity generation".

 

But a spokesperson added "the transition to cleaner energy cannot happen
overnight and we will continue to need oil and gas over the coming decades,
as recognised by the independent Climate Change Committee".

 

Emma Pinchbeck, the chief executive of Energy UK, which represents British
energy companies, told the BBC's Today programme that the long-term solution
to high bills "is to invest in renewables and energy efficiency to make sure
that we're not reliant on volatile international gas".

 

"We expect that investment in more infrastructure in renewables and energy
efficiency and alternative technologies to deliver cheaper bills in the long
run... and that's why it's so important that we move quickly, particularly
with increased international competition for these technologies."

 

Cost of living: Tackling it together

Here are some energy saving ideas from environmental scientist Angela Terry,
who set up One Home, a social enterprise that shares green, money-saving
tips:

 

Get a water-efficient shower head free of charge from your water company and
use showers rather than baths

Consider loft insulation, which she says costs around £460 for a typical
semi-detached home and could save £355 a year on gas bills

Hang out washing instead of using a tumble dryer, and walk instead of drive
when possible

Use windy days to feel where draughts are in the house. Wetting the back of
your hand helps to locate them, then use insulation or draught-proofing tape

Where available, press the smaller button to use less water to flush the
toilet-bbc

 

 

 

Elon Musk: Tesla delivers record number of cars after price cuts

Electric carmaker Tesla says it delivered a record number of vehicles in the
three months to the end of June, after cutting prices to boost sales.

 

It has lowered prices in markets including the US, UK and China to compete
with rival manufacturers.

 

This weekend, major Chinese car makers also reported a surge in sales in
June.

 

Earlier this year, Tesla boss Elon Musk said he believed pursuing higher
sales, with lower profits, was the "right choice" for the company.

 

On Sunday, Tesla said it delivered 466,140 vehicles in the second quarter,
which was more than 80% higher than a year earlier.

 

Meanwhile, the company said it had increased vehicle production to nearly
480,000 in the same period.

 

"Tesla has made a strategic choice to be a volume manufacturer," Bill Russo,
the founder and chief executive of advisory firm Automobility, told the BBC.

 

"This was the main contributor to the sales increase, as its mainly
higher-volume Model 3 and Model Y benefitted from the price war," he added.

 

Dan Ives from investment firm Wedbush Securities told the BBC that "the
price cuts in China have been a smart poker move that was massively
successful for Tesla".

 

China is Tesla's second largest market after North America.

 

The firm been cutting prices in the world's second largest economy, where it
faces competition from local electric car makers.

 

Over the weekend, Beijing based Li-Auto said its deliveries had hit an
all-time high of 32,575 in June, marking its third consecutive monthly sales
record.

 

Meanwhile, deliveries by Shanghai-based Nio and Guangzhou-based Xpeng jumped
to 10,707 and 8,620 respectively during the month.

 

Musk vows to bring Tesla to India after meeting Modi

Tesla boss Musk on first China trip in three years

Tesla has also been grappling with increased competition in other parts of
the world, and the impact of higher borrowing costs for customers.

 

It has responded by cutting prices this year.

 

In April, Tesla said it had no plans to stabilise the prices of its
vehicles, even though repeated price cuts had dented profits.

 

"We're not 'starting a price war', we're just lowering prices to enable
affordability at scale," Mr Musk wrote on his social media platform,
Twitter.

 

At the time Tesla said that its overall revenue had risen by almost a
quarter in the first quarter from a year ago, as car sales increased.

 

However, its profit for the same period dropped by 24%, because of price
cuts and higher costs of raw materials and other commodities.

 

The company is due to report its financial results for the second quarter on
19 July.-bbc

 

 

 

Shell still trading Russian gas despite pledge to stop

Shell is still trading Russian gas more than a year after pledging to
withdraw from the Russian energy market.

 

The company was involved in nearly an eighth of Russia's shipborne gas
exports in 2022, according to analysis from campaign group Global Witness.

 

Oleg Ustenko, an adviser to Ukrainian President Vladimir Zelensky, accused
Shell of accepting "blood money".

 

Shell said the trades were the result of "long-term contractual commitments"
and do not violate laws or sanctions.

 

As recently as 9 May, a vast tanker capable of carrying more than 160,000
cubic metres of gas compressed into liquid form - liquefied natural gas or
LNG - pulled out of the port of Sabetta, on the Yamal peninsula in Russia's
far north.

 

That cargo was purchased by Shell before heading onwards to its ultimate
destination, Hong Kong.

 

It is one of eight LNG cargoes that Shell has bought from Yamal this year,
according to data from the Kpler database analysed by Global Witness.

 

Last year Shell accounted for 12% of Russia's seaborne LNG trade, Global
Witness calculates, and was among the top five traders of Russian-originated
LNG that year.

 

In March 2022, in the weeks following the invasion of Ukraine, Shell
apologised for buying a cargo of Russian oil, and said it intended to
withdraw from Russian oil and gas.

 

It said that it would stop buying Russian oil, sell its service stations and
other businesses in Russia,which it has done. It has also ended its joint
ventures with the state energy giant Gazprom.

 

And it said it would start a "phased withdrawal from Russian petroleum
products, pipeline gas and LNG". But it warned that it would be a "complex
challenge".

 

Since then, it has kept taking cargoes of LNG from two Russian ports, the
one at Yamal and one at Sakhalin in the far east.

 

Shell used to be a minority investor in the Sakhalin gas project, but
abandoned that claim in September last year after the Russian government
transferred its shares to a local business - and since then has taken no gas
from Sakhalin.

 

But it still honours the contract with the Russian LNG company Novatek,
which obliges it to buy 900,000 tonnes a year from Yamal until the 2030s,
according to the Reuters news agency.

 

Novatek is Russia's second biggest gas company, and the taxes it pays are a
significant contributor to the Russian government's budget.

 

Oleg Ustenko, an adviser to the Ukrainian president, said: "It is quite
simple: by continuing to trade in Russian gas Shell is putting money into
Putin's pockets and helping to fund Russia's brutal aggression against the
people of Ukraine.

 

"The vast sums that Shell and the whole oil industry have made in Russia
should be used to help fund the reconstruction of Ukraine, rather than
lining the pockets of their shareholders."

 

A spokesman for Shell said: "Shell has stopped buying Russian LNG on the
spot market, but still has some long-term contractual commitments. This is
in full compliance with sanctions, applicable laws and regulations of the
countries in which we operate.

 

"There is a dilemma between putting pressure on the Russian government over
its atrocities in Ukraine and ensuring stable, secure energy supplies. It is
for governments to decide on the incredibly difficult trade-offs that must
be made."

 

Shell is the world's largest trader of LNG, which is not subject to European
sanctions, making billions of dollars in profits trading oil and gas last
year.

 

Russia massively reduced its deliveries of gas by pipeline last year, but it
has increased the amount of gas it supplies by ship, including to Europe.

 

The UK has not imported any Russian gas for over a year, while EU
politicians are trying to reduce the amount of Russian LNG the bloc imports.
In March, the EU's Energy Commissioner Kadri Simson called on countries and
firms to stop buying Russian gas, and not to sign new contracts.

 

"It's long overdue that the trading of Russian LNG is looked at with the
same disgust as Russian oil trading. Targeting Putin's energy income cannot
be about symbolic measures but must concretely put a stop to the huge fossil
fuel sums that cement his power," said Jonathan Noronha-Gant, senior
campaigner at Global Witness.

 

The France-based energy company TotalEnergies is a minority shareholder in
the Yamal project, and was also a major trader in Russian LNG, the Global
Witness analysis reported.

 

The BBC has approached TotalEnergies for comment.-bbc

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

Heroes’ Day

 

Aug 14

 


 

Defence Forces Day

 

Aug 15

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


CBZH

GetBucks

EcoCash

 


TSL

Econet

Turnall

 


First Capital Bank

ZBFH

Fidelity

 


Zimplow

FMHL

 

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
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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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