Major International Business Headlines Brief::: 05 July 2023

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Major International Business Headlines Brief::: 05 July 2023 

 


 

 


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ü  East Africa: Ethiopia to Enact Law Normalizing Informal Cross-Border
Trade Along Djibouti, South Sudan Borders

ü  Namibia: Diamonds Must Add More to Domestic Economy

ü  Kenya: Prepare for 30 Percent Matatu Fare Hikes From Tomorrow

ü  Nigeria: Bread Producers Serve Notice of Imminent Hike in Prices

ü  South Africa: Mining Companies Eye the Last Unspoilt Strip of the Western
Cape's West Coast

ü  Malawi: Govt Contracts 13 Companies to Supply Fertilizer in 2023-2024

ü  Uganda: Govt Extends Deadline for Completion of Renovation Works On
Namboole Stadium

ü  Namibia: Farmers Inducted On Livestock Breed Selection

ü  Uganda: Tourism Minister Says Digital Innovations Will Help Drive Number
of Travelers to Uganda

ü  Namibia: Ongwediva to Host Over 450 Exhibitors

ü  Botswana Gets More From De Beers ...Parties Agreed On New Sales Contract
and Mining Licences

ü  Unilever: Cornetto maker defends decision to stay in Russia

ü  Nigel Farage: Banks warned against closing accounts

ü  The AI trained to recognise waste for recycling

 


 

 


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The

East Africa: Ethiopia to Enact Law Normalizing Informal Cross-Border Trade
Along Djibouti, South Sudan Borders

Addis Abeba — The Ethiopian government is taking strides to acknowledge and
regulate the longstanding informal cross-border trade occurring along the
Djibouti border. The Ministry of Trade and Regional Integration is currently
introducing a law with the goal of formalizing the informal trade activities
that have been existing along the border between these countries.

 

Kasahun Gofe, state minister of Trade and Regional Integration said on
Tuesday that the ministry is currently engaging representatives of regional
trade bureaus to collect inputs before the soon enaction of the law.
According to him, the law will have irreplaceable role in making basic
consumables accessible for the community living along border areas.

 

The development comes eight years after the signing of the Ethio-Djibouti
border trade protocol in 2015. In January 2023, a delegation from Ethiopia,
led by Kasahun Gofe, visited Djibouti to discuss the primary export items
that would be allowed under the border trade agreement.

 

 

According to the law, individuals engaged in informal cross-border trade
along the Ethiopia-Djibouti border will have permission to transport goods
up to a value of $1,000 per month, according to the document obtained by
Addis Standard. Cross-border traders originating from Ethiopia will be
granted the opportunity to export seven specific commodities, including
livestock, animal products, fruits, vegetables, and corn, to Djibouti
without incurring any taxes. Conversely, 20 items such as edible oil, sugar,
and rice will be allowed for import from Djibouti. In order to facilitate
smooth cross-border trade between the two nations, a total of 15 areas, with
10 located in Ethiopia, have been designated as marketplaces.

 

In order to gain official recognition, cross-border traders must adhere to
certain requirements set by the government. These include registering at one
of the branches of the Ethiopian Customs Commission and obtaining a valid
business license. Additionally, traders are obligated to sell their products
at prices determined by local and federal authorities.

 

 

The Ethiopian government's recent action is part of an initiative aimed at
enhancing intra-Africa trade, which currently represents only 14.4% of
annual African exports. To address this issue, the African Union officially
launched the African Continental Free Trade Area (AfCFTA) in 2018. The
primary objective of the AfCFTA is to progressively eliminate tariffs on
intra-African trade, streamlining business transactions within the continent
for African enterprises. Presently, fewer than ten African countries are
actively participating in the free trade area. Last week, Kasahun told
legislators that preparation to start trading under the free trade area is
at the final stage.

 

The other strategy employed by African nations to enhance intra-regional
trade is the formalization of existing informal border trade. Despite its
importance to African countries, there appears to be a lack of comprehensive
understanding regarding informal cross-border trade within the continent. A
study conducted by UNECA reveals that informal cross-border trade is
estimated to account for a substantial proportion, ranging from 30% to 72%,
of the formal trade between neighboring nations.

 

 

Shortly after assuming power in 2018, Prime Minister Abiy Ahmed (PhD)
demonstrated his administration's commitment to regional integration by
embarking on his first foreign trip as a leader to Djibouti. Three years
ago, Prime Minister Abiy, together with former Kenyan President Uhuru
Kenyatta, jointly inaugurated a border post in the Kenyan town of Moyale,
aimed at enhancing trade between the two countries.

 

The Ministry of Trade and Regional Integration is also introducing a
comprehensive legal framework to regulate informal cross-border trade
activities that exist near the border with South Sudan. This initiative aims
to facilitate the smooth exchange of goods, with an annual trade value
estimated at 240,000 birr along the 1,114-kilometer border between the two
countries. AS

 

-Addis Standard.

 

 

 

Namibia: Diamonds Must Add More to Domestic Economy

Like with other minerals, what Namibians need to continue to ask is whether
Namibian diamonds can contribute more to the domestic economy. "What more
can we get from our diamonds; how can the diamond sector contribute more to
our local economic activities?" asked mines and energy minister, Tom
Alweendo, yesterday.

 

Alweendo asked these questions at the announcement of the new Diamond Board,
which is tasked with advising the minister on matters relating to the
diamond industry. The Diamond Act established the creation of the Diamond
Board.

 

"As we all know, diamonds play a very important role in our economy. Of the
total exports from the mining industry, more than 50% comes from the diamond
industry. In 2022, of the total taxes from the mining industry, 55% came
from the diamond sector. It is that important, requiring us to manage the
sector with due care," said Alweendo.

 

The minister added that the biggest diamond producer in the country is still
Namdeb, the 50:50 joint venture between the government and De Beers. Namdeb
has two subsidiaries, namely Namdeb that does the land-based mining, and
Debmarine, that mines offshore.

 

 

"Over the years, more and more of the production comes from Debmarine. It is
also worthy to note that the relationship between the government and De
Beers as shareholders is governed by the sales and marketing agreement, that
is expiring in May 2026, and a new agreement will be negotiated. One of the
key features of the current agreement is that 15% of the total diamond
production is allocated to Namdia and 35% is allocated to the local cutting
and polishing industry," Alweendo explained.

 

"In my view, one of the biggest challenges the global diamond industry will
be faced with, is the challenge that comes from the lab-produced diamonds,
commonly known as synthetic diamonds.

 

These are diamonds that are artificially produced, and they look exactly
like the natural diamonds. They are produced at lower cost and are likely to
attract a segment of diamond consumers. If more and more people start to buy
synthetic diamonds, natural diamond producing countries will lose the market
and this will have a negative economic impact," Alweendo cautioned.

 

 

He continued that while it is not possible to prevent the production of
synthetic diamonds, it is possible to insist that they are not marketed as
natural diamonds.

 

"These will be some of the issues I expect the board to pay attention to and
advice how best to proceed. As per the Diamond Act, you as members have been
nominated by various stakeholders, such as the producers, dealers, cutters
and polishers. You are, therefore, experts in the industry and I hope you
will bring your expertise to bear and ensure that our diamond

 

industry continues to be managed in the best manner possible," said
Alweendo.

 

The new Diamond Board members are Erasmus Shivolo (chairperson), Maenge
Shipiki Kali (deputy chair), Festus Nghifenwa, Pauline Thomas, Wollen
Zuleika Nell, Benita Herma, Brent Eiseb, Nekulilo Ithete, Bartholomeus de
Klerk, Emily Kapulwa, Desley Somseb and Isabella Chirchir.

 

-New Era.

 

 

 

Kenya: Prepare for 30 Percent Matatu Fare Hikes From Tomorrow

Nairobi — Public Service Vehicles (PSV) are set to increase their daily
fares by 30 percent from tomorrow following the increase in fuel prices last
week by the Energy and Petroleum Regulatory Authority (EPRA).

 

According to the Matatu Owners Association chairman Albert Karakacha, the
adjustment of fares will cushion the investors in the transport sector under
the organisation.

 

Petrol is retailing at Sh195 up from Sh179 when EPRA announced the new fuel
prices.

 

Karagacha stated that they are engaging Government agencies and fuel
supplies in a bid to find ways of cushioning the public service operators
and commuters.

 

-Capital FM.

 

 

 

Nigeria: Bread Producers Serve Notice of Imminent Hike in Prices

Nigerians have been asked to brace up for increase in the prices of bread, a
major food item on the table of almost all Nigerians.

 

The produce said their cost of production has risen following the withdrawal
of fuel subsidy and the liberalization of the foreign exchange (forex)
market by the federal government.

 

President of Premium Breadmakers Association of Nigeria (PBAN), Engr.
Emmanuel Onuorah, who disclosed this in an exclusive chat with Vanguard,
stated: "For us in the premium bread making, it is a mixed feeling laced
with a feeling of déjà vu".

 

He noted that most of the baking ingredients are import dependent, adding
that the floating of forex has led to increase in the cost of clearing of
the ingredients.

 

Onuorah said: "Most of our baking ingredients are import dependent; ranging
from flour produced from wheat, Ascorbic Acid, Calcium Propionate, Yeast,
bread softener etc, are mostly imported. The forex floating led to increase
in amount used for clearing; we know this will certainly lead to increase in
prices of bread.

 

 

"The flour millers even wanted to use the forex floating as an alibi to
increase the price of wheat flour; if they do that the price of bread would
go up significantly because we would pass on the cost. With any increase in
the price of bread now, there will certainly be more drops in sales and more
bakeries will certainly close shop".

 

On the impact of the fuel subsidy removal, he said: "We feel that the
decision was hasty without a clear cut plan on how to mitigate the fall-out
of the policy on businesses and Nigerians. The President announced the
policy before thinking of how to manage the fall-out, more like putting the
cart before the horse.

 

"The impact on my members was spontaneous because our workers were not able
to afford the transport fare that spiked astronomically thereby impeding
production due to unavailability of workers.

 

"Some of our members have delivery vans that use fuel; it spiked their cost
of delivery which dovetailed into increased cost of production and reduced
margins. Our distributors use delivery vans that use fuel likewise, it
affected their sales with the attendant drop in our volumes."

 

The bakers' chief also added that "the imposition of 7.5% VAT on diesel by
the new government, the price shot up immediately and this affected our
production and sales negatively."

 

-Vanguard.

 

 

 

 

South Africa: Mining Companies Eye the Last Unspoilt Strip of the Western
Cape's West Coast

Approval of two applications to prospect on the coast between the Olifants
River and the Northern Cape border are pending.

SRK Mining wants to prospect for diamonds and Nekwana Trading Enterprise
wants to prospect for heavy minerals, kaolin and gemstones.

Environmentalists have raised the alarm over the cumulative effect of
different companies prospecting on the same property.

No environmental assessment of the combined effects has been done.

The last, relatively pristine section of Western Cape coastline between the
Olifants River and the Northern Cape border is threatened by two new
mining-related applications.

 

The applications to the Department of Mineral Resources and Energy (DMRE)
are for prospecting rights on the farm Karoetjies Kop 150, which extends six
kilometres inland and 15km along the coast north of the Soutriver.

 

 

SRK Mining (Pty) Ltd wants to prospect for diamonds along the coastline,
targeting places where diamond giant De Beers had excavated huge exploration
trenches during the 1970s.

 

Nekwana Trading Enterprise (Pty) Ltd wants the inland prospecting rights as
it eyes the possibility of extracting heavy minerals, kaolin and gemstones.

 

Environmentalists and residents have raised the alarm over a "tyranny of
small decisions", where numerous prospecting and mining applications and
other development activities are individually approved by the government,
without a proper assessment of their cumulative impact on the environment.

 

In its acceptance letter to Nekwana, DMRE says the company is required to
"consult" with the department's regional office or the diamond prospector
about operations on the same property. Yet there is no requirement for a
combined impact assessment of the two operations.

 

Professor emeritus Merle Sowman, former head of Department of Environmental
and Geographical Science at the University of Cape Town, has repeatedly
called for a strategic environmental assessment of the cumulative impacts of
the expanding mining footprint along the entire West Coast.

 

She has warned that applications are being assessed on an individual basis
without the government understanding the overall impact and net effect of
all its various approvals.

 

Sowman says an overall, long-term and strategic decision-making process to
guide where and when human activities can occur in South Africa's ocean
areas is underway, as required by the Marine Spatial Planning Act, which
came into effect in 2021.

 

Yet because so many approvals have already been given for prospecting and
mining applications, as well as other coastal developments, she says, an
overarching strategic environmental planning process to facilitate
sustainable development in the west coast will be undermined.

 

 

"It's very worrying. There is massive pressure to allow more mining because
the government sees this as economic growth potential, but no one is seeing
the big picture," she says.

 

Nekwana's application

 

Nekwana Trading Enterprise (a company with a Polokwane, Limpopo postal
address) wants to prospect for sillimanite, monazite, manganese ore,
leucoxene, kaolin (clay) and garnets.

 

In its documentation, the company states that part of the prospecting work
will involve drilling operations with boreholes limited to a depth of 20
metres. Twelve boreholes will be drilled initially to test target areas with
up to ten or so more boreholes, depending on initial results.

 

The company says mining already contributes to the economies of surrounding
towns, such as Nuwerus, Bitterfontein, Lepelsfontein and Rietpoort, and it
will attract foreign investment through transportation and beneficiation. It
says it will improve social cohesion for local communities.

 

The company says mining operations will boost local business and SMMEs and
reduce youth and general unemployment.

 

It says a one kilometre "buffer zone", where no drilling or activity will
take place, will be placed around the river estuary and coastline.

 

Its final Basic Assessment Report and Environmental Management Programme
documentation, including public comment, was submitted to DMRE on 19 May.

 

SRK's application

 

SRK Mining (Pty) Ltd, based in Koekenaap, wants to prospect for "general"
and "alluvial" diamonds on 296 hectares and the adjacent surf zone.

 

Its application was accepted in April. A draft Basic Assessment Report and
Environmental Management Programme was released in June to interested and
affected parties for comment, closing 15 July.

 

SRK says it is applying for the area where De Beers/West Coast Resources
held diamond prospecting rights in the surf zone - up to about 32 metres out
to sea from the low water mark, and an average 800m wide coastal strip.

 

In December 2022, De Beers/West Coast Resources rights lapsed, and SRK
Mining took the opportunity to apply for a new prospecting right over a
small portion of the historic right.

 

"The only land use [in the area] is uncontrolled recreational activities
with ad hoc campsites during the crayfish season ... The environmental
impact will be the same as for the informal campsites," argues SRK.

 

It says there will be no prospecting during the summer and Easter holidays
and all excavations will be made safe to allow for open access during these
periods.

 

 

"The presence of an authorised and environmentally responsible company on
site will also help to mitigate the problem of illegal diggers, crayfish
poaching, littering, illegal hunting, and plant (firewood) collection, a
common occurrence along the west coast," SRK states.

 

According to the company, the preliminary evaluation will involve 20 sample
pits with a footprint of 11 by eight metres and 6.5-metres deep. The pits
will be filled and rehabilitated after the assessment.

 

If the results are promising, bulk sampling will be done from much bigger
trenches, but this will involve additional authorisation, including a
different environmental impact assessment and specialist studies.

 

Environmentalists voice concerns

 

Mike Schlebach, managing director of not-for-profit organisation Protect the
West Coast (established in 2020) writes on its website that the entire West
Coast is in "danger of becoming one massive mining site, all the way from
Lambert's Bay to the Namibian border" - more than 500km of coast.

 

Environmentalists say that where prospecting is approved, mining permits are
inevitable if the value of deposits is deemed profitable.

 

Communications specialist Miles Masterson wrote on the website: "While not
quite as disruptive as full-scale mining operations, the prospecting
activities, such as collecting sediment samples and conducting heavy mineral
separation, may involve the digging up and disturbance of coastal ecosystems
and habitats. Moreover, given the mineral-rich quality of the area, the
likelihood of these prospecting activities leading to actual mining is
extremely high ... in this pristine, untouched coastal zone."

 

Schlebach describes coastal zone mining as "an outdated and destructive form
of mining, which rips up beaches to extract minerals for everyday use such
as cosmetics with little to no rehabilitation".

 

"It means the loss of heritage sites, the degradation of biodiverse areas
and fragile ecosystems, the pollution of the surrounding marine
environments, the loss of livelihood to local fishers and a general decline
in nearby communities."

 

Allen Lyons, a retired geologist and former chair of the Strandfontein
Ratepayers Association, says, "It's a bit like a feeding frenzy, and we are
not winning any battles. It's also a very expensive process, and by the time
any of our appeals reach the minister's desk, the fight is usually already
lost."

 

-GroundUp.

 

 

 

Malawi: Govt Contracts 13 Companies to Supply Fertilizer in 2023-2024

Government has awarded contracts to 13 companies to supplies fertilizer
under the 2023-2024 Affordable Input Programme (AIP), the Minister of
Agriculture Sam Dalitso Kawale has disclosed.

 

Kawale told Nyasa Times on Monday morning that the 13 companies will supply
149,164 metric tons of NPK and Urea fertilizer through the Smallholder
Farmers Fertilizer Revolving Fund of Malawi (SFFRFM).

 

"A few months ago, our President directed that all fertilizer procurements
for the 2023 season should be done by end of June. Your Ministry of
Agriculture wishes to inform you that it has awarded contracts to Optichem
(2000) Limited, ETG Inputs Ltd, Farmers World, Afriventures Blantyre
Limited, Mediterranean Fertilizers DMCC, Malawi Fertilizer Company, Saeed
Investments, Chipala Investments, Sealand Investments Ltd, Midima Holdings
Ltd, Chipiku Stores, Zathu Trading and Paramount Holdings Limited," he said.

 

 

The minister stated that between these companies, about 80, 000MT of
fertilizer is already in the country, which is 53 percent of what Malawi
needs.

 

He said the balance will be in the country before the launch of the program.

 

"Procurement of transportation services is at advanced stage. Award of
contracts to successful transporters is expected to be given by 31st July,
2023. The procurement of seeds and female goats for the programme will be
advertised in widely circulated newspapers in a week starting from 2nd July
2023," said Kawale.

 

The minister further disclosed that smallholder farmers will access all farm
inputs before the first planting rains.

 

Kawale expressed his ministry's commitment to 'frequently give updates on
the progress made in the implementation of the programme'.

 

"The smallholder farmers are requested to prepare their gardens in
preparation for 2023/2024 growing season.

 

"The ministry is committed to continuously improve all the processes
involved in accessing farm inputs as well as do things in a timely manner
and ensure effectiveness, efficiency and productivity," said the minister.

 

-Nyasa Times.

 

 

 

Uganda: Govt Extends Deadline for Completion of Renovation Works On Namboole
Stadium

Government has again extended the deadline for the completion of the
renovation works on Mandela National Stadium, also known as Namboole.

 

Whereas it had been said by the UPDF Engineering brigade handling the works
that the stadium would be ready by last month, the Education Minister, Janet
Museveni has said the actual deadline was August but noted this has been
extended.

 

"In light of these significant undertakings, I have approved an extension
for these intervention efforts, shifting the initial completion date from
August 1st, 2023, to November 30th, 2023. This extension was granted upon
request by the project's main contractor, the UPDF Engineering Brigade. As
we eagerly anticipate our next visit in November, we look forward to
witnessing the fully revitalized stadium," Mrs. Museveni said.

 

 

The Education Minister said during her recent visit to the stadium, she
evaluated the progress of the renovation works, noting that she later
received a detailed report which indicated that the works are progressing in
line with FIFA standards.

 

The renovation plan is extensive and incorporates numerous critical upgrades
to the stadium. These include the integration of a state-of-the-art
ticketing and access control system, installation of solar lighting to
mitigate utility costs, and establishment of an efficient drainage and
irrigation system. The projects further involve the creation of a 4.2km
perimeter wall, along with the refurbishment and elevation of the Namboole
stadium and hotel to match international standards."

 

The minister hailed the UPDF Engineering Brigade for " their outstanding
work in overhauling the stadium" but recommended a regular maintenance plan
for the stadium and other government structures.

 

 

Background

 

Officially opened in 1997, the 35000 capacity Mandela National Stadium also
known as Namboole is home to the country's national football team, the
Cranes.

 

Since construction by Chinese over 20 years ago, the stadium has not seen
any major renovations around it which is a cause for alarm.

 

"The stadium has got out-dated infrastructure - the bowl, halogen
floodlights that consume a lot of power, electrical installations that are
not readily available on the market, sanitary facilities need repair or
change of plumbing installations," Mandela National Stadium Managing
Director Jamil Ssewanyana told Daily Monitor recently.

 

"Then the lack of a CCTV system and real time access controls (turnstiles)
to monitor the stadium users on entering the stadium, during and after
events."

 

In 2020, CAF released a report in which it deemed the stadium unfit to host
any international matches including Cranes qualifiers.

 

The facility had failed to meet both the continental body and world football
governing body-FIFA standards, prompting the ban.

 

CAF highlighted the playing surface, size of the pitch, dressing rooms,
floodlights, pavilion, technical bench, media centre and parking among
others that are in a dire state.

 

Consequently, Uganda has not been able to host African Nations Cup and World
Cup qualifying games from home, opting for stadia in other countries.

 

Uganda hosted its previous Afcon qualifying game in Cameroon and lost 2-1 to
visitors Algeria.

 

 

 

 

Namibia: Farmers Inducted On Livestock Breed Selection

In efforts to improve productivity and prepare farmers for the upcoming
agricultural competitions in the region, the Aminuis Agriculture Extension
Office, in collaboration with Agribank, held a small stock selection session
recently in the Omaheke region.

 

Speaking to AgriToday, Carlos Tjiho, the Agriculture Technician for Aminuis
constituency, said the purpose of the day was to equip small stock farmers
with selection knowledge of potential breeding stock. "We have targeted
beginners; whether they are taking their animals to the expos or
agricultural shows or just for keeping them home. Some farmers buy these
sheep and goats from others but do not notice faults," Tjiho elaborated.

 

 

According to the extension officer, the workshop was also aimed at educating
the farmers on the best characteristics of their animals.

 

Tjiho also said the session will enable farmers to pick the best animal to
the agricultural show competitions.

 

"Sometimes farmers end up selling or slaughter the best ones and leave the
ones with faults in their kraals. We have even noticed this practice at
weddings and funerals when families are assisting each other," Tjiho noted.
Despite the selection process, the workshop also focused on milk production,
and it enlightened farmers on the features of goats and sheep that can give
birth to two lamps. To this, Tjiho said the best remedy for good features on
your animals is a good quality ram with good physical appearance. Zelda
Ngarizemo, a farmer from Otjeue village, said she learned a lot and she will
improve her small stock production. "It was a very informative session.
Despite learning the physical appearances of my goats and sheep, I managed
to acquire skills on how to keep records of my animals," she said. Ngarizemo
added that through the workshop enlightenment, she can now purchase a ram of
quality in their kraal. Sharing the same sentiment was Absalom Katenge from
Otjombungu, who said the workshop of this magnitude should repeat quarterly.
"This is a very important session, as it helps us breed with best products.
I now know how the features like feet and back on my stock should look
like." Katenge further said they are in rural areas, and some of the
information requires more attention; they will need ample time to memorise
it. "Luckily, our extension officer prepared some copies for reference sake,
and that is very commendable," emphasised Otjombungu farmer. On her part,
Naomi Kahuure from Omitivine added she gained a lot from the training and
will share with family at home. "Keeping records of our stock was one of the
key points I took from this session. The characteristics and features of
good rams also attracted my attention," Kahuure explained.

 

 

Agibank's John Venter, who facilitated the workshop, said farmers showed
eagerness to learn, as farming has become business.

 

The facilitator also called on farmers to regularly pay attention to
production records and all records of their products. The Aminuis
Agricultural Show is slated for August this year.

 

-New Era.

 

 

 

Uganda: Tourism Minister Says Digital Innovations Will Help Drive Number of
Travelers to Uganda

The state minister for tourism, Martin Mugarra Bahinduka has said increased
digital innovations in the tourism sector will help drive up the number of
travelers to Uganda.

 

"The demand for the Ugandan destination is there. However, many people are
not aware of what to visit here. Most of the people who come here don't get
into the actual tourism bit of it but rather come to do business, visit
relatives and other activities without us fully benefiting from their stay
here. However, digital innovations will help avail information to such types
of travelers," Mugarra said.

 

"These innovations will help in such a way that even if you are in Kampala,
you will just go online and get to know which places to visit and spend
time. This will be the same case with upcountry destinations that the world
will get to know what they have to offer. This way, the number of travelers
to Uganda will go up."

 

 

The minister was on Tuesday speaking during the launch of the Tour Plug, an
online platform that brings together tour operators and members of the
public seeking information about trips about various destinations.

 

Mugarra said the advent of the Covid pandemic was a great lesson to the
country about using digital platforms in all sectors of the economy.

 

He also encouraged the tour operators to go digital which he touted as
helping them reach a bigger audience.

 

"We are now in a technology world and everything now is digital. There is no
reason tour operators should walk around with flyers trying to market
destination Uganda yet you can pay a small subscription fee and the benefits
are enormous."

 

 

Mugarra said such digital platforms are also key for generating data about
the tourism sector.

 

According to Ajena Jafar, the Chief Executive Officer for Tour Plug, the
platform is a market place to link tour operators, travelers, accommodation
facilities and other service providers.

 

"We not reinventing the will but mainly focusing on providing a platform to
link African travelers to Uganda. Tour Plug is taking away the aspect of
people going to social media to look for where to travel to. They now have
to log into the website and know where to travel to," Jafar said.

 

He said that unlike many other platforms, the Tour Plug will leverage on
Artificial Intelligence to customize experiences for travelers.

 

"We are refocusing data and targeting travelers and the experiences they
like. We will focus mainly on African travelers. They can be allowed to book
destinations basing on price range, activities they want to do and
destinations they want to go to," Jafar said.

 

 

 

Namibia: Ongwediva to Host Over 450 Exhibitors

The Ongwediva Trade Fair Society says it will host over 450 local and
international exhibitors at the fair this year.

 

Exhibitors are from diverse sectors of the economy, as well as from
countries such as Tanzania, Uganda, Ghana, and Nigeria.

 

Rebecca Hidulika, the chairperson of the Ongwediva Trade Fair Society, said
this during the Ongwediva Annual Trade Fair (OATF) fundraising gala dinner
at Ongwediva on Saturday.

 

An amount of over N$1,3 million, aimed at asisting with the preparations for
hosting the fair, was raised during the gala dinner.

 

"Looking back at the past year, hosting the OATF after a brutal pandemic was
not an easy task, however, I am so proud of the team that we are, the
preparatory committee, the exhibitors, sponsors, stakeholders and visitors
with a common purpose.

 

 

"Last year the OATF attracted over 400 local and international exhibitors,
representing a fair number of the active economic sectors in the counctry,
including the informal sector, which significantly contributes to our gross
domestic product," she said.

 

This year, the OATF will be hosted under the theme 'Embracing a Sustainable
Economy, Linking Smart Markets'.

 

"When planning for the annual events, the Ongwediva Trade Fair Society
strives to align its efforts to the national and regional development
agenda.

 

"Thus, this theme is derived for the African Continental Free Trade Area
agreement, which presents a unique opportunity for African countries to
embrace a sustainable economy.

 

"The theme also resonates with the government's economic thrust, which
prioritises industrialisation and modernisation as fundamental aspects to
sustainable economic growth as envisaged in the National Development Plans,
as well as the Harambee Prosperity plan towards vision 2030," Hidulika said.

 

The Mobile Telecomunications Company remains the official sponsor of the
OATF after donating an amount of over N$300 000, followed by First National
Bank Namibia with an amount of N$200 000, and the Road Fund Adminstration
with an amount of N$135 000.

 

This year's OATF will take place from 25 August to 2 September.

 

-Namibian.

 

 

 

Botswana Gets More From De Beers ...Parties Agreed On New Sales Contract and
Mining Licences

De Beers and the government of the Republic of Botswana have reached a new
deal on diamond sales that will see Botswana's Okavango Diamond Company
(ODC) receive up to 50% of Debswana production over the duration of the
agreement. De Beers will also initially contribute about US$75 million to a
Botswana development fund, which could total some US$750 million over the
next 10 years.

 

According to a statement from De Beers, ODC will receive 30% of Debswana
production from the start of the new contract period, progressively
increasing to 50% by the final year of the contract. This, De Beers stated,
will ensure a sustainable transition path for both partners. Debswana is an
equal partnership between the government of the Republic of Botswana and the
De Beers Group of companies.

 

 

The agreement, in principle, stipulates a new 10-year sales agreement for
Debswana's rough diamond production through to 2033 and a 25-year extension
of the Debswana mining licences through to 2054. Botswana remains the
world's top diamond producer in terms of value.

 

"The transformational new agreement between the Botswana government 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," the De Beers statement reads.

 

It continued that the agreement represents a new chapter in an enduring
diamond partnership by focusing on four key areas of value. These are
industry leadership; Debswana's future; economic diversification; and
Botswana jobs.

 

 

In terms of industry leadership, the new deal aims to significantly expand
Botswana's footprint and leadership position across the diamond value chain.
This includes the transition to increasing the share of Debswana supply sold
via ODC. In terms of Debswana's future, the new deal progresses the
long-term capital investment required to secure Debswana's position as one
of the world's leading diamond producers, and Botswana's largest private
employer, for decades to come.

 

The new agreement also accelerates Botswana's economic diversification
through the creation of a multi-billion Pula Diamonds for Development Fund.
This fund, with an upfront investment by De Beers, aims to create
substantial additional value to the Botswana economy.

 

Finally, in terms of Botswana jobs, the new agreement creates the potential
for tens of thousands of new jobs in Botswana, both within an expanded
Botswana-based diamond industry and emerging sectors, with a focus on
supporting the growth of a knowledge-based economy.

 

"For De Beers, it is a privilege to renew our half-century partnership with
the people of Botswana. It is a partnership that is highly regarded around
the world for the enduring role it has played in creating economic
development and growth. Our transformative agreement reflects the
aspirations of the country, secures the future of our Debswana joint
venture, and reaffirms De Beers' leadership position for the long-term. The
agreement represents our commitment to deliver investments in Botswana's
diamond production, Botswana's diamond value chain, Botswana's
knowledge-based economy and, above all, the people of Botswana," said Al
Cook, CEO of the De Beers Group.

 

Meanwhile, De Beers noted that the terms of the previous sales agreement,
which expired on 30 June 2023, will remain in place while the partners
progress and implement the new sales and mining agreements.

 

Botswana president Mokgweetsi Masisi, who has been pushing for a bigger
share of Debswana's output, had threatened to sever ties with De Beers if
the government's concerns weren't reflected in the new deal that has been in
negotiation since 2018.

 

Established in 1888, De Beers Group is the world's leading diamond company
with expertise in the exploration, mining and marketing of diamonds.
Together with its joint venture partners, De Beers Group employs more than
20 000 people across the diamond pipeline and is the world's largest diamond
producer by value, with mining operations in Botswana, Canada, Namibia and
South Africa. The De Beers Group is a member of the Anglo American plc
group.

 

-New Era.

 

 

 

Unilever: Cornetto maker defends decision to stay in Russia

The maker of Dove soap and Cornetto ice cream has defended its decision to
keep operating in Russia more than a year after the country invaded Ukraine.

 

Unilever said that exiting was "not straightforward" as its operations would
be taken over by the Russian state if it abandoned them.

 

It comes after a campaign group estimated the firm is contributing £579m to
the Russian economy annually.

 

The Moral Rating Agency accused the firm of facilitating Russia's invasion.

 

"Unilever must stop hiding behind its balance sheet and excuses to face the
reality that selling an ice cream can allow Putin to pay for a bullet," said
founder Mark Dixon.

 

A host of Western companies from Apple to Levi's quit Russia in the wake of
its illegal invasion of Ukraine last year, both for ethical reasons and
because sanctions have made it difficult to operate in the country.

 

However, some firms are still doing business there such as US consumer goods
giant Procter & Gamble and drinks maker Pernod Ricard.

 

P&G has said it has limited its activities in the country, while Pernod said
it had to "ensure the economic viability" of its Russian operations.

 

Shell trading Russian gas despite pledge to stop

Pernod Ricard resumes drinks exports to Russia

Unilever, which sells products in the UK such as Marmite and PG Tips, said
it had stopped exports and imports to and from Russia and ceased advertising
there.

 

It also claims to be selling only "essential" products in the country,
including everyday food and hygiene products.

 

But the Moral Rating Agency (MRA) said that Unilever's production facilities
in Russia continued to manufacture and sell most of its original goods in
the country.

 

It said its calculations accounted for the total amount Unilever paid into
the Russian treasury annually, along with money spent on local suppliers,
employees and for other costs such as rent and technology.

 

"The MRA calculation starts with Unilever's admission in its 2022 Annual
Report that its Russian business represents 1.4% of turnover," the group
added.

 

'Not straightforward'

Referring the BBC to its most recent statement in February, Unilever said:
"We understand why there are calls for Unilever to leave Russia.

 

"We also want to be clear that we are not trying to protect or manage our
business in Russia. However, for companies like Unilever, which have a
significant physical presence in the country, exiting is not
straightforward."

 

The company, which employs around 3,000 people in Russia, said that if it
were to abandon its brands in Russia, "they would be appropriated - and then
operated - by the Russian state".

 

The consumer goods giant said it had been unable to find a way to sell the
business that "avoids the Russian state potentially gaining further benefit,
and which safeguards our people".

 

It said there were no "desirable" options, but that continuing to run the
business with "strict constraints" was the best way forward in the
circumstances.

 

This week, Shell was criticised for continuing to trade in Russian gas more
than a year after pledging to withdraw from the Russian energy market.

 

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

 

 

 

Nigel Farage: Banks warned against closing accounts

The Culture Secretary has said she is concerned banks may be closing
customer accounts for political reasons following claims from Brexiteer
Nigel Farage.

 

Lucy Frazer said it is something banks "should be thinking about carefully".

 

Last week, Mr Farage said his bank was closing his accounts, claiming it was
"serious political persecution" from an anti-Brexit banking industry.

 

The government is investigating payment providers over account closures.

 

Last year, Paypal closed accounts run by Toby Young, who is general
secretary of the Free Speech Union. They were later reinstated by the US
payments company.

 

The government subsequently announced a review into payment services
regulations, including the practice of firms apparently closing down the
accounts of people or businesses that hold views the lender does not agree
with.

 

Ms Frazer told LBC, the radio station: "I'm concerned people's accounts
might be closed for the wrong reasons and it's something they [the banks]
should be thinking about carefully.

 

"Banks are regulated, and those are the sort of things regulators should
consider."

 

Mr Farage said that he was told two months ago that his bank, who he did not
name but is understood to be Coutts, was closing down his personal and
business accounts.

 

The BBC has approached Coutts' parent company Natwest for comment.

 

'Commercial decision'

Mr Farage, who is the former leader of UKIP and a former member of the
European Parliament, suggested that the reason for the decision could be
related to laws that banks follow on "politically exposed person" or PEPs.

 

These are people who hold a prominent position or influence who may be more
susceptible to being involved in bribery or corruption.

 

Banks are required to do extra due diligence on PEPs.

 

Mr Farage said he was told by his bank that closing his accounts was a
"commercial decision".

 

UK Finance, which represents the banking industry, said lenders should
discuss the closure of an account with a customer "so far as is feasible and
permissible".

 

It said though there will "be situations where it may not be appropriate or
permissible for a bank to engage in a dialogue to explain their reasoning".

 

This would include a breach of terms and conditions, "abusive or threatening
behaviour to colleagues" or if banks have been directed not to by
"regulators, HM Government, police and other authorities".

 

Mr Farage said he approached seven other banks to open personal and business
accounts and was turned down by all of them.

 

However, he claimed there were other reasons why his existing bank acted.

 

"Either for reasons of being active in politics, or having opinions that
modern day corporate banks don't agree with, far too many accounts have been
closed in recent years," he told the BBC.

 

"I hope that my case blows the lid off the whole thing and that we can get
changes to legislation. Everyone in the UK should be entitled to a bank
account."

 

Speaking in the House of Commons on Monday, security minister Tom Tugendhat,
said "This sort of closure, on political grounds - if that is indeed what
has happened and after all we only have the allegation of it at this point -
should be completely unacceptable.

 

"PEPs is there to prevent the corrupt use of banking facilities by
politicians in corrupt regimes. It is not here to silence individuals who
may hold views with which we may or may not agree."

 

The result of the government consultation on payment services regulations is
expecting in the next few weeks.

 

The Treasury declined to comment.-bbc

 

 

The AI trained to recognise waste for recycling

There is a lot of rubbish in the world.

 

Approximately 2.24 billion tonnes of solid waste was produced in 2020,
according to the World Bank. It says the figure is likely to rise by 73% to
3.88 billion tonnes by 2050.

 

Plastic is particularly problematic. From the start of large-scale
production of the material in the 1950s until 2015, more than 8.3 billion
tonnes of plastic waste was produced, research from the Universities of
Georgia and California calculated.

 

Someone who will not find those statistics surprising is Mikela Druckman.
She has spent a lot of time looking at what we throw away, as the founder of
Greyparrot, a UK start-up that has created an AI system designed to analyse
waste processing and recycling facilities.

 

"In a single day you will have literally mountains of waste in one facility
coming through, and what's very shocking and surprising is that it never
stops," she says. There are no holidays for waste, it just keeps coming."

 

Greyparrot places cameras above the conveyor belts of around 50 waste and
recycling sites in Europe, utilising AI software to analyse what passes
through in real-time.

 

AI technology has come on in leaps and bounds over the past year, and its
ability to process images is now very sophisticated. However, Ms Druckman
says it was still hard to train a system to recognise rubbish.

 

"A product like a Coke bottle, once it goes into the bin, will be crumpled,
crushed and dirty, and makes the problem much more complex from an AI
standpoint."

 

What is AI and is it dangerous?

Greyparrot's systems now track 32 billion waste objects per year, and the
firm has built up a huge digital map of waste. This information can be used
by waste managers to become more operationally efficient, but it can also be
shared more widely.

 

"It is allowing regulators to have a much better understanding of what's
happening with the material, what materials are problematic, and it is also
influencing packaging design," says Ms Druckman.

 

"We talk about climate change and waste management as separate things, but
actually they are interlinked because most of the reasons why we are using
resources is because we're not actually recovering them.

 

"If we had stricter rules that change the way we consume, and how we design
packaging, that has a very big impact on the value chain and how we are
using resource."

 

She hopes that big brands and other producers will start using data
generated by firms like GreyParrot, and ultimately design more reusable
products.

 

Troy Swope runs a company that is intent on making better packaging.
Footprint has worked with supermarkets, and with Gillette to convert its
plastic razor trays to ones made of plant-based fibre.

 

In a blogpost on Footprint's website, Mr Swope claims that consumers are
being misled by a "myth of recycling".

 

He referenced a plastic salad container that was labelled "ready to recycle"
and asked what that actually meant.

 

"It's less likely than ever that their discarded single-use plastic ends up
anywhere but a landfill," wrote Mr Swope. "The only way out of the plastics
crisis is to stop depending on it in the first place."

 

So-called greenwashing is a big problem, says Ms Druckman. "We've seen a lot
of claims about eco or green packaging, but sometimes they are not backed up
with real fact, and can be very confusing for the consumer."

 

To help retailers know that used plastic bottles are in fact being recycled,
and in what numbers, UK-firm Polytag covers them with an ultraviolet (UV)
tag that is not visible to the human eye.

 

When the bottles then arrive at the determined recycling plants, the tags
are read by a Polytag machine. The number of bottles is then uploaded to a
cloud-based app in real time, which Polytag's customers can access.

 

Polytag's UV tags can only be seen when ultraviolet light is shown on them

"They can see exactly how many bottles are being recycled, which is
something these brands never had access to before," says Polytag's project
manager Rosa Knox-Bradley.

 

So far the firm has worked with UK retailers Co-Op and Ocado.

 

To make it easier for people to recycle, and encourage more to do so, the UK
government and the administrations in Wales and Northern Ireland are due to
launch a deposit return scheme in 2025.

 

This is due to see "reverse vending machines" located in shops and other
public areas, where people will be able to deposit used plastic bottles and
metal drinks cans, and be paid money for doing so - around 20p per item.

 

The search to find a planet-friendly way to get rid of rubbish remains a
tough race, however, as seemingly every year a new trend comes along to
throw a spanner in the works.

 

Presentational grey line

New Tech Economy

New Tech Economy is a series exploring how technological innovation is set
to shape the new emerging economic landscape.

 

Presentational grey line

The latest is an addiction to e-cigarettes, or vapes, which are creating a
whole new mountain of electronic waste that is hard to recycle.

 

"It's a huge problem. And it's getting bigger," said Ray Parmenter, head of
policy and technical at the Chartered Institute of Waste Management.

 

He adds that the "fundamental issue" is disposable single-use vapes, which
he says "are basically an anathema to the circular economy".

 

Disposal vapes are composed of many materials - plastics, metals, a lithium
battery and some even have LED lights or microprocessors.

 

Research last year from Material Focus, an organisation that campaigns for
more recycling of electrical products, suggests 1.3 million vapes are thrown
away per week in the UK alone. This means that some 10 tons of lithium goes
into landfill every year, enough to power 1,200 car batteries.

 

"The way we get these critical raw materials like lithium is from deep mines
- not the easiest places to get to. So once we've got it out, we need to
make the most of it," says Mr Parmenter.

 

Vapes are a good example of how we need to change thinking, says Ms
Druckman.

 

"It doesn't make economic sense, it doesn't make any sense. Rather than ask
how do we recycle them, ask why we have single-use vapes in the first
place?"

 

While industry and policy-makers have big roles to play in making products
more recyclable or reusable, so do consumers, she adds. And the biggest
change they can make is to "consume less".-bbc

 

 

 

-bbc

 

 

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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Skype:         Bulls.Bears 



 

 

 


 

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
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
subscribe for any securities. The information contained in this report has
been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


(c) 2023 Web: <http://www.bullszimbabwe.com>  www.bullszimbabwe.com Email:
<mailto:info at bulls.co.zw> bulls at bullszimbabwe.com Tel: +263 4 2927658 Cell:
+263 77 344 1674

 


 

 

 

 

 

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