Major International Business Headlines Brief::: 07 July 2023

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

 <http://www.bullszimbabwe.com> Bullszimbabwe.com
<mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments
<https://bullszimbabwe.com/category/blogs/bullish-thoughts/> Bullish
Thoughts        <http://www.twitter.com/BullsBears2010> Twitter
<https://www.facebook.com/BullsBearsZimbabwe> Facebook
<http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn
<https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp
<mailto:bulls at bullszimbabwe.com?subject=Unsubscribe> Unsubscribe

 


 

 


Major International Business Headlines Brief::: 07 July 2023 

 


 

 


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

 


 

 


 

ü  Kenya: Government Told to Allow Millers to Import Sugar

ü  South Africa: In-Depth - Concerns Over Treatment and Care for People With
Schizophrenia Not Limited to Public Sector

ü  East Africa: Uganda's Hipipo Awarded Best Financial Inclusion
Organisation in E.Africa

ü  Ghana to Build 1,000 Electric Vehicle Charging Stations in 5 Years - Dr
Mohammed Amin Adam

ü  Cybastion Signs Framework Contract and Two MoUs with Ivorian Ministry of
Communication and Digital Economy

ü  Ghana: 'Absa Access' Set to Change the Face of Banking in Ghana

ü  Gambia: Regional Confab for Clearing And Forwarding Agencies Opens in
Banjul

ü  Ghana: Adenta Municipal Assembly to Hold Crunch Meeting Over Maintenance
of GAMA Project

ü  Kenya: DP Gachagua Pledges Implementation of Tea Sector Reforms By
Farmers

ü  Namibia: Nida Closes Defaulting SME Stalls

ü  Twitter threatens legal action over Threads app

ü  Japanese workers are finally seeing their pay jump

ü  Can Threads make more money than Elon Musk’s Twitter?

ü  Gary Neville admits error in £400m Manchester development

ü  The US is the world's biggest corn exporter - but for how long?

ü  Interest rate ‘rigger’ wins right to appeal in UK

 


 

 


 <https://www.cloverleaf.co.zw/> Kenya: Government Told to Allow Millers to
Import Sugar

Nairobi — The Kenya Union of Sugarcane Plantation Workers have called upon
the government to allow millers to be part of the importation of sugar into
the country so as to forestall laying off workers.

 

The Union Secretary General Francis Wangara says millers are about to close
their factories due to lack of raw material and will only rely on the
imported sugar.

 

"Sugar Directorate has held numerous meetings with the millers and possibly
by the end of this month, the mills will close down," he said.

 

Wangara says whereas the importation of sugar will relieve Kenyans from the
shortage of the product, millers should be considered to be part of the
process to allow thousands of factory workers to keep their jobs.

 

"Our mills will cease operations for three to four months, during this
period, they will rely on imported sugar and we want the government to give
them a certain percentage to import," said Wangara.

 

 

He says allowing millers to import a certain percentage is the surest way to
sustain its labour force.

 

"This will mean that no worker is laid off during the period the mills will
close down, since the mills will have resources to pay salaries and effect
factory maintenance," he said.

 

Addressing a press conference in Kisumu on Thursday, Wangara says they have
already written to the Ministry of Trade and copied to the Ministry of
Agriculture so as to have their request considered.

 

He noted that the importation should not only be left to the Kenya National
Trade Corporation (KNTC) but millers too should be allowed to bring in sugar
into the country.

 

Wangara said the government had placed an order of 185,000 metric tonnes of
sugar to be brought into the country to bridge the deficit.

 

"The sugar has not been brought to KNTC, we want half of the tonnes to be
given to the millers to import directly into the country," he said.

 

Early this year, sugar millers were locked out of the duty free sugar
imports window by the Sugar Directorate.

 

The move was occasioned by an occurrence in 2017 where millers abandoned
buying sugarcane from farmers and concentrated in repackaging and selling of
imported sugar.

 

Wangara however said the three months closure of the mills will allow for
the maturity of cane already in the farms.

 

He noted that if the mills continue to harvest premature cane, then the
situation will not remedy.

 

"Right now what they are milling is not profitable, because the sugar
produced from young cane is very minimal," he said.

 

-Capital FM.

 

 

South Africa: In-Depth - Concerns Over Treatment and Care for People With
Schizophrenia Not Limited to Public Sector

In response to a question posed in parliament, Minister of Health Dr Joe
Phaahla last year disclosed that at the time, South Africa had only 451
public sector psychiatrists and that there were 187 psychiatric vacancies.
The numbers differed drastically between provinces - the Western Cape had 99
public sector psychiatrists and one vacancy, while the entire Eastern Cape
had only two public sector psychiatrists and ten vacancies.

 

Apart from underlining large disparities between provinces, the numbers also
suggest that in much of the country, the public sector simply lacks the
specialised staff required to provide quality treatment and care for people
with potentially severe mental health conditions, such as schizophrenia.
While things are generally better in the private sector, several experts
contend that the treatment and care of people with schizophrenia is being
undermined by insufficient coverage from medical schemes.

 

 

'An illness of young people'

 

According to Dr Mvuyiso Talatala of the South African Society of
Psychiatrists (SASOP), even though schizophrenia affects only around 1% of
the population (rates are relatively similar between countries), it is quite
severe for the people who are affected by it.

 

Psychiatrist Dr Eugen Allers agrees, calling it "one of the most serious
psychiatric disorders we get". Allers is in private practice and is a board
member of PsychMG.

 

He says schizophrenia is a disease of young people, with around 90% of
people with the disease first showing signs before the age of 25. "So their
whole careers, their whole lives are ahead of that," says Allers.

 

He says that people with schizophrenia often become psychotic, which means
they hear voices, they see things, their thought processes are confused, and
they can't distinguish between what is reality and what is not. "So they
might think they are actually Jesus Christ, or Elon Musk, or very rich or
very poor. They get paranoid, they believe people want to kill them. So it's
a very serious mental illness," he says.

 

 

According to The American Psychiatric Association when schizophrenia is
active, symptoms can include delusions, hallucinations, disorganized speech,
trouble with thinking, and lack of motivation. However, with treatment, most
symptoms of schizophrenia will greatly improve and the likelihood of a
recurrence can be diminished.

 

Although hearing voices and behavioural problems are some of the most
concerning aspects of schizophrenia, Talatala says the biggest problem is a
decline in cognition, which he says happens in the first two years. "And if
you lose that cognition, you've lost it. It's difficult to recover. You have
to prevent it upfront," he says.

 

According to Allers, when the illness starts, people typically require
medication and hospitalisation. "We usually have to admit them to hospital
in that state and then, from there, we medicate them. We also do
psychotherapy to make them understand what the illness is all about," he
says. "The new medications are very successful. We also have a long-acting
injectable to give a patient and it would last for two weeks, a month, three
months, or six months." (Although he clarified that the six-month
formulation is not yet available in South Africa.)

 

 

The initial first six months to a year of treatment are critical, according
to Allers. "The sooner you get them out of the psychosis, the better they do
long term. They can function, go to university,[and] study. If you don't do
that, they become chronically disabled patients," he says.

 

Talatala also stresses this point. "If it's not treated early," he says,
"it's going to drain the resources because the person who's affected will
get out of work or stop working or stop studying, and that person will be a
burden to the state. They're likely to end up in hospital care, which is
more expensive."

 

The answer, Talatala says, is treating people early. "Remember, this starts
in your adolescence, late adolescence, and young adulthood. If we treat
these people when they're at school, they'll complete their studies [and
there are] those who [can] start work. And we've seen this in our practices
- where we treat patients and they continue working without anyone noticing
or picking up any problems," he says.

 

Private sector problems

 

In the public sector, early treatment can be hard to come by if there is
poor mental health screening and referral at clinics as well as a lack of
beds in mental healthcare facilities and a shortage of psychiatrists.
Spotlight previously reported on delays at the 'new' Kimberley Mental Health
Hospital and problems at mental health wards in the Eastern Cape, which
became the subject of a Public Service Commission investigation. Events at
Tower Hospital in Fort Beaufort and the decanting of patients from the Life
Esidemeni facility in Gauteng became the subject of health ombud
investigations.

 

But appropriate early treatment also poses several challenges in the private
sector.

 

One challenge, argues Talatala, is that regulations enacted in terms of the
Medical Schemes Act on how preferred minimum benefits (PMBs) must be funded
are not "crystal clear" regarding schizophrenia. (PMBs are a minimum set of
benefits that all medical schemes are obliged to cover.)

 

"In the regulations, one needs to go and dig it out of the treatment
algorithms that show some stages that should be followed in the treatment of
schizophrenia," he says. "The regulations were not written in a way that
would make it easy to comply or easy for patients to fight for the funding."
As a result, he says, you end up with patients who struggle to get funding
to see psychiatrists or special therapists - "all the things that you need
for treating schizophrenia."

 

The one thing that is clear enough is that, in terms of the PMBs, medical
schemes are obliged to cover three weeks of hospitalisation for patients
with schizophrenia. According to Allers, usually, three weeks is enough, but
in some instances, it is not.

 

It is the question of what else besides these three weeks should be covered
that Allers and Talatala suggest is the rub. For example, as Allers points
out, appointments with psychiatrists are not covered by default. He says it
takes six months to a year for people with schizophrenia to become really
well and to get there requires intensive treatment after hospitalisation. He
says the PMBs do not cover this (outpatient) phase of treatment and as a
result, patients are at risk of relapse. "Psychiatry is really more about
outpatient treatment than inpatient treatment. We want to keep patients out
of the hospital, not in the hospital," he says.

 

 

This lack of treatment and care beyond hospitalisation means some
private-sector patients end up being treated in the public sector. As stated
in a paper published last year in the journal Schizophrenia Bulletin, of
which Talatala was a co-author, "People with schizophrenia have minimal
access to care in the private sector because of this restricted funding for
mental healthcare. Most people with schizophrenia are therefore treated in
the public health sector."

 

Talatala says the regulations for schizophrenia are poorer than those for
depression. "Depression has an option of having 15 psychotherapy sessions.
I'm not saying it's adequate for depression either. And bipolar disorder has
an option as well, 21 days in the hospital or 15 psychotherapy sessions," he
says. "So depression or bipolar disorder is better covered than
schizophrenia."

 

He maintains that schizophrenia affects a small population, but the impacts
are severe because people end up in chronic care facilities or on the
streets, or in psychiatric hospitals. He argues that schizophrenia should be
given the same level of attention as heart attacks or strokes or any of the
other severe illnesses. "We need to treat it aggressively. To prevent heart
attacks, we advertise better lifestyle care, monitoring low blood pressure,
checking your blood, checking your digits, your cholesterol, and taking
medication early. I think we need to have the same attitude for
schizophrenia, where we look for early screening for the illness and early
intervention with the medication that is effective right from the
beginning," he says.

 

Role of the CMS

 

In 2020 the CMS published a PMD benefit definition guideline for
schizophrenia, amongst others "to guide the interpretation of the PMB
provisions by relevant stakeholders" and to "improve clarity in respect of
funding decisions by medical schemes".

 

But the 2020 guideline was far from the end of the matter. Allers says they
(South African Society of Psychiatrists and Psychiatry Management Group)
have had numerous meetings with the Council for Medical Schemes (CMS) and
particularly its clinical review committee to raise their ongoing concerns.

 

A circular from earlier this year suggests the CMS was listening. "Since the
publication of the mental health definition guidelines, several stakeholder
groups have advised regarding poor interpretation and application of the
guidelines and have advised on the need for revisions. The CMS is preparing
a discussion document to revise these previously published mental health
benefit guidelines," the CMS circular reads.

 

Once inputs in response to the circular are collated, says CMS spokesperson
Stephen Monamodi, "they will be assessed and used to create an updated
benefit definition guideline for the condition. This is the expected output
for the 2023/24 financial year".

 

CMS perspective

 

In response to questions from Spotlight, Monamodi confirmed that
schizophrenia is a PMB condition as it is part of the Diagnostic and
Treatment Pair (DTP) Code 907T and also one of the conditions included in
the Chronic Disease List treatment algorithms. The specific DTP code refers
to "Schizophrenic and paranoid delusional disorders".

 

"The DTP treatment component, as well as the treatment algorithm, outline
the minimum level of care that should be funded by medical schemes for any
medical scheme member or beneficiary," says Monamodi.

 

"Medical schemes may also develop formularies and clinical protocols to
assist in funding decisions," he says. "The formularies must be
evidence-based, cost-effective, and most importantly not result in care that
is less than what is stipulated in the regulations. Therefore, in addition
to hospitalisation, members' follow-up treatment, medication, blood tests,
and other tests related to schizophrenia must be paid in line with the PMB
Regulations."

 

According to Monamodi, the PMB regulations stipulate that PMB level of care
for DTP907T is hospital-based management for up to three weeks per year. The
medical treatment algorithm for schizophrenia outlines various medical
treatment options that should be available when someone is treated for
schizophrenia both in and out of hospital.

 

He says that this is the minimum care that any medical scheme member or
beneficiary that has schizophrenia is entitled to. However, Monamodi
explains that the schemes can fund admissions for longer than three weeks or
medications not on the treatment algorithm as per their protocols and
formularies.

 

-spotlight.

 

 

 

East Africa: Uganda's Hipipo Awarded Best Financial Inclusion Organisation
in E.Africa

For the second year running, HiPipo has been voted the Best Financial
Inclusion Organization in East Africa at the seventh annual FinTech Awards,
organised by Wealth & Finance International.

 

Wealth & Finance International, renowned for celebrating outstanding
achievement within the finance and investment industry, lauded HiPipo for
their efforts towards financial inclusion in East Africa through a series of
projects aimed at bridging the gap between the served and under-served
populations.

 

HiPipo chief executive officer Innocent Kawooya welcomed this great news and
attributed this achievement to resilience, innovation and remaining
steadfast in the organisation's principle of including everyone.

 

 

"In the dynamic landscape of FinTech, staying innovative and one step ahead
is vital. As an industry leader, we're both navigating and shaping this
evolution, contributing to a predicted industry valuation of $174 billion
this year alone. The journey is exhilarating, and the accolades we receive
from respected institutions like Wealth and Finance International only
strengthen our resolve," he said.

 

The award celebrates the homegrown leaders in fintech who are instrumental
in propelling efforts towards complete financial inclusion across
continents. Kawooya says this award is a testament to the extraordinary team
behind HiPipo, their dedication and relentless effort.

 

He further emphasized the integral role of supportive partners such as the
Gates Foundation, Cyberplc Academy, Level One Project, INFITX, Ideation
Corner, Crosslakes Technologies, and the Mojaloop Foundation.

 

"This honour belongs to all of us and serves as a catalyst for our future
endeavours," he said.

 

The year 2023 has already proved fruitful for HiPipo. They continued to
champion the adoption and propagation of fintech as a means of enhancing
financial inclusion for the underserved and unserved.

 

"Our successful initiatives this year include the 4th 40 Days 40 FinTechs &
FinTech Landscape Exhibition, the 4th Women-in-FinTech Hackathon & Summit,
the Digital and Financial Inclusion Summit, and the Digital Impact Awards
Africa," he said.

 

"Notably, our Women-in-FinTech Incubator remains a symbol of our steadfast
commitment to empowering women in the digital technology space."

 

Kawooya added that they look forward to continue empowering women with the
knowledge and tools needed to launch successful tech initiatives because
their contributions serve communities better and help drive societies
towards a more inclusive future.

 

-Observer.

 

 

Ghana to Build 1,000 Electric Vehicle Charging Stations in 5 Years - Dr
Mohammed Amin Adam

Ghana is working to build 1,000 electric vehicle charging stations across
the country within five years.

 

According to Dr Mohammed Amin Adam, Minister of State at the Ministry of
Finance, the move formed part of the government's plan to accelerate the
country's energy transition.

 

He said the installation of electric vehicle charging infrastructure in the
country would put Ghana in a position to seamlessly shift from the use of
petroleum fuelled vehicles to electric ones, as it was ongoing in many parts
of the world.

 

He was speaking in Accra yesterday during a conference on Climate Finance
for Sustainable Energy Transition in Africa.

 

 

Organised by the University of Ghana in partnership with the European
University Institute and the European Commission, the event saw participants
from various African countries including Nigeria and Kenya.

 

Dr Adam said Ghana could not be left behind in the development of electric
vehicle charging infrastructure since the cars produced currently were
infused with electric energy technology.

 

"We cannot wait for the world to develop and integrate new technologies
while we do nothing. This is the time to build the infrastructure that will
help in the use of electric vehicles in Ghana. If we fail to prepare, we
will have to resort to re-engineering of vehicles which usually leads to
fatal consequences," he stated.

 

Sustainable energy transition in the West African sub-region, he said, held
the promise of transforming economies, improving living standards, and
ensuring a brighter future for all through the provision of clean and
affordable energy to power industries, electrifying communities, and
fuelling innovation.

 

In view of that, Dr Adam noted that, Ghana had developed a National Energy
Transition Framework which includes a set of long-term policy
recommendations to help decarbonise the energy sector and reach net-zero
emissions by 2070 while ensuring socio-economic growth and using its natural
resources.

 

He said, Ghana would require about US$600 billion dollars to achieve the set
target and emphasised the importance of resource mobilisation from both the
public and private sectors to aid investments in solar, wind, hydro, and
geothermal energy projects.

 

The Minister called for the enhancement of energy efficiency and promotion
of innovative technologies which were crucial components of energy
sustainability and reiterated the need for further investments in research
and development of energy storage solutions, smart grids, and electrified
transportation to foster a more robust and interconnected energy network.

 

Dr Adam said the Ministry of Finance was ready to champion policies that
incentivise investments in sustainable energy projects and create an
enabling environment for private sector participation.

 

Professor Kenneth Amaeshi of the School of Transnational Governance,
European University Institute (EUI) stressed the need for Africa to explore
ways of using its own resources to finance their energy transition process.

 

This, he said, would ensure that Ghana and other African countries undergo
energy transition at its own pace and were not rushed in adapting foreign
energy transition policies and mechanisms that do not address local
challenges.

 

He explained that the African Continental Free Trade Area (AfCFTA) provides
African countries with the opportunity to develop its own technology and
skills that would be needed in ensuring sustainable energy transition as
well as the required investments through trade.

 

Prof. Peter Quartey, Director of the Institute of Statistical, Social and
Economic Research (ISSER) of the University of Ghana, said, it was time
Ghana commits more resources to enable the country's energy transition by
investing heavily in solar energy and improve natural resources extraction.

 

He stated that, the country could learn from best practices around the globe
and develop regulations that promote local contents and ownership to enhance
Ghana's benefits in the energy transition space.

 

-Ghanaian Times.

 

 

Cybastion Signs Framework Contract and Two MoUs with Ivorian Ministry of
Communication and Digital Economy

Washington DC — Cybastion is delighted to announce the signing of a
framework contract and two Memoranda of Understanding (MoUs) with the
Ministry of Communication and Digital Economy of Côte d'Ivoire. The signing
ceremony, between Cybastion's CEO, Thierry Wandji Ketchiozo and H.E. Amadou
Coulibaly, the Minister of Communication and Digital Economy of Côte
d'Ivoire, took place during an esteemed Ministerial Roundtable on digital
strategy hosted by the US Africa Business Center of the U.S. Chamber of
Commerce in Washington D.C.

 

The framework contract solidifies the partnership between Cybastion and the
Ivorian Ministry of Communication and Digital Economy, with the shared
objective of fortifying cybersecurity and operationalizing the National
Cybersecurity agency. Moreover, the signing of two MoUs further enhances the
collaborative efforts between Cybastion and the Ivorian government. The
first MoU revolves around the development of a cutting-edge digital city,
encompassing joint endeavors to mobilize a consortium of specialized
companies for the esteemed Digital Administrative City project. The second
MoU centers on the establishment of a resilient wireless emergency network
system, aligning with the country's comprehensive emergency preparedness
strategy.

 

We would like to extend our sincere appreciation to the U.S. Embassy in Côte
d'Ivoire, the Ivorian Embassy in the USA, the U.S. Ambassador to Côte
d'Ivoire, Ambassador Jessica Davis Ba, the Ivorian Ambassador to the U.S.,
H.E. Ibrahima Toure, as well as the US Africa Business Center, of the US
Chamber of Commerce, for their invaluable support.

 

 

Cybastion

Cybastion’s CEO, Thierry Wandji Ketchiozo and H.E. Amadou Coulibaly, the
Minister of Communication and Digital Economy of Côte d’Ivoire sign the
framework contract that solidifies the partnership between Cybastion and the
Ivorian Ministry of Communication and Digital Economy, with the shared
objective of fortifying cybersecurity and operationalizing the National
Cybersecurity agency.

Cybastion eagerly looks forward to fostering a prosperous partnership with
Côte d'Ivoire and contributing to the nation's digital transformation
journey.

 

About Cybastion

 

Cybastion is a cybersecurity solutions provider, offering a range of
services including cyber-infrastructure, training, and digital technologies.
Based in Durham, North Carolina, the company has established a strong
presence in Africa, working across eight countries. Cybastion aims to
address the cybersecurity gap between Africa and more developed countries by
providing the necessary cyber solutions.  The company's efforts to build
capacity in Africa are especially significant, as President Biden has stated
that "When Africa succeeds, the United States succeeds, and quite frankly,
the whole world succeeds as well."

 

https://www.cybastiontech.com/cybastion-signs-framework-contract-and-two-mou
s-with-ivorian-ministry-of-communication-and-digital-economy/

 

 

Ghana: 'Absa Access' Set to Change the Face of Banking in Ghana

ABSA Bank has launched "Absa Access", a new platform for its clients and
institutions to give them instant access to all transactions, products and
services across multiple channels with just a single sign-on.

 

The platform also has a unique element that makes it possible for any
standard browser to access it.

 

Clients can now enjoy simple, secure and cost-effective domestic payments,
gain full control of their payables, cash flows, salaries, supplier and
pension payments and many more.

 

The bank has also partnered with all three major mobile network companies in
Ghana to enable the transfer of funds to mobile wallets of beneficiaries
instantly.

 

 

Commenting on the new product, Managing Principal in charge of Absa Bank's
Corporate and Investment Banking, Ellen Ohene-Afoakwa, said, "Our customers
are the reason we are in business. Our s

 

Success lies in understanding their needs, being responsive to their
requests and going above and beyond to transform their experience with us."

 

She said, "Absa Access is truly a game-changer, and will significantly
modify the way we deliver banking services to our customers. Our brand
purpose reflects a journey of empowering Africa's tomorrow, together...one
story at a time. This means we are constantly responding to the changing
dynamics of the ecosystem and using new information to meet the shifting
needs of our clients."

 

-Ghanaian Times.

 

 

 

Gambia: Regional Confab for Clearing And Forwarding Agencies Opens in Banjul

A five day international conference for Clearing and Forwarding Agencies
from Ghana Institute of Freight Forwarders (GIFF) and Association of
Customs, Clearing and Forwarding Agencies of The Gambia is underway at the
Atlantic Hotel in Banjul.

 

The meeting started on Wednesday 5 July 2023.

 

The conference was an opportunity for The Gambia customs, clearing and
forwarding ecosystem and their counterparts from Ghana to learn from each
other the best practises through experience sharing and success stories.

 

The meeting also seeks to promote and cement bilateral relationship, between
the Ghanaians and their counterparts from The Gambia

 

 

Speaking at the official opening on behalf of the GRA Commissioner General,
Alhagie K. Mbye, the commissioner of Customs and Excise, seized the
opportunity to commend the Ghana Institute of Freight Forwarders for their
non-complacence. "Your decision to visit your counterparts in the Gambia is
an article of virtue that determines the strength of your union, your ethics
and your services."

 

According to him, Ghana's visit to The Gambia demonstrates their commitment
to delivering best services to their clients by comparing and contrasting
their standards and procedures with other countries.

 

"Your presence in The Gambia also signifies that our clearing agencies are
of global standards and examples of excellence. "I therefore encourage them
to also use this opportunity to tap knowledge and experience from their
Ghanaian friends".

 

"I want to highlight to the GIFF the excellent working relationship that
exists between the customs and the clearing agencies in The Gambia. The
clearing agents are the sole declarants in the ASYCUDA System and therefore
the gateway to our revenue targets. Their diligence has ensured that we are
always on track," Mr. Mbye told the gathering.

 

 

"I encourage us all to foster the spirit of collaboration both local and
international as it is the best way to adapt to the global challenge
confronting international trade."

 

Also speaking on behalf of the Ministry of Trade, Industry, Regional
Integration and Employment, Kemo Janka, principal trade economist, applauded
the leadership and management of the Association of Customs, Clearing and
Forwarding Agencies for organising the meeting.

 

He noted that clearing and forwarding agencies are important elements in the
trade facilitation ecosystem and the Ministry of Trade is pleased to be
associated with the event.

 

He revealed that the Ministry has a keen interest in the way trade
facilitation services are delivered in The Gambia. "This is because as a
country we must be efficient and effective in the delivery of goods and
services to ensure that we remain compliant in the sub region."

 

-The Point.

 

 

 

Ghana: Adenta Municipal Assembly to Hold Crunch Meeting Over Maintenance of
GAMA Project

The Adenta Municipal Assembly is to hold a crunch meeting with the Municipal
Education Oversight Committee over issues concerning the maintenance of the
Greater Accra Metropolitan Area (GAMA) sanitation and water project
constructed for some public schools in the area.

 

This follows complaints that parents of pupils in the beneficiary schools
have refused to support in the maintenance of the facilities.

 

The GAMA project was sponsored by the World Bank and the Ministry of
Sanitation and Water Resources.

 

Under the package some public schools in Accra and Kumasi were provided with
12-seater water closets in addition to mechanised boreholes as part of the
schools sanitation and hygiene promotion to end open defaecation in the
schools.

 

 

Per the agreement, parents of pupils in the beneficiary schools were to help
maintain the facilities but have refused to play that role effectively thus
leaving the burden on the schools which also do not have any resource to
dislodge the facilities.

 

This was revealed at a stakeholder forum organised by the assembly for the
residents of Ogbojo and its environs that some schools could not fund the
maintenance of the facilities.

 

The MCE, Alexander Daniel Nii-Noi Adumuah, not happy with the turn of events
said an emergency meeting would be held with the managers of the schools
within this week to find a lasting solution to the problem.

 

He said the parents at several meetings prior to the start of the project
agreed to take control of the facilities in order to ensure good hygienic
practices in the schools to ensure its sustainability and wondered at the
sudden change.

 

Nii-Noi Adumuah indicated that after the meeting an amicable solution would
be found for the problem since it's the children of the parents who are
attending the school and nothing would be done to defeat the purpose of the
project.

 

On other matters, the MCE said the area had about 974 kilometres of roads
but only 127 kilometres are tarred and urged the residents to bear with the
assembly as efforts were being made to put the rest in shape.

 

He urged the residents to regularly undertake health checks to stay healthy
and not wait till they are sick.

 

-Ghanaian Times.

 

 

 

Kenya: DP Gachagua Pledges Implementation of Tea Sector Reforms By Farmers

Kericho — Deputy President Rigathi Gachagua on Thursday undertook to oversee
full implementation of proposals by tea farmers to strengthen the sector as
the government rolls out comprehensive reforms to turn it around.

 

The DP also promised immediate implementation of the Tea Act, 2020 to ensure
reforms spelt out in the law are back on track after being frustrated by the
previous government.

 

Speaking when he opened the two-day national Tea Reforms Conference at
Kericho Golf Club in Kericho town, the Deputy President said the meeting was
geared towards streamlining the sector in order to improve farmers'
earnings.

 

 

"I give an undertaking that the reforms we are going to agree on, our two
Houses of Parliament where we have the majority members will pass the needed
amendments into law and thereafter we will ensure a 100% compliance with the
law. This is part of our Bottom-Up Economic Transformation Agenda," said the
DP.

 

Gachagua urged the participants who included farmers, leaders and other
stakeholders to freely make contributions adding that the conference had
been specifically organized to listen to them as the reforms are
implemented.

 

"I want to invite you to be honest and brutally truthful. Be free to tell us
where the challenges are. This is the last conversation we are going to have
about tea. We cannot keep saying these things every year. It is the time to
tell us the oppressors, who are frustrating you and we will act on them,"
urged the DP.

 

The DP praised Kericho Senator Aaron Cheruiyot for sponsoring the Tea Act
but said the law that was to revive the sector had been frustrated by those
who served in the government previously.

 

"The Act is comprehensive and can help our farmers earn better. Even as we
make the amendments, we will enforce the Act because if it had been
implemented as effected we would have already dealt with the challenges
halfway and we would now be dealing with the remaining part right," said Mr
Gachagua.

 

Through Executive Order 1 of 2023, the Deputy President has been tasked by
President William Ruto with turning around the fortunes of farmers in the
Coffee, Tea and Dairy subsectors. The Tea Conference is being held after the
Coffee Summit in Meru last month. The Summits are meant to bring respective
stakeholders together to agree on the best intervening measures to make the
sectors profitable to the farmers.

 

The DP said the tea farmers must be the happiest in the production chain
because they are the heart of it.

 

 

"The tea plantations are beautiful. It is a sight to behold. Besides, beauty
is misery for the farmer. We are here to consult and speak the truth. We
must get a solution because we must find a way for the farmer to get the
highest pay," the DP said.

 

In spite of Kenya producing distinct flavours of tea, Mr Gachagua said
marketing of the products do not take care of farmers' interests.

 

"The farmer has no power to determine the price yet this is a much-sought
commodity across the globe even when sold raw. The farmer who puts in the
most effort earns the least. The pyramid is inverted against the farmer. The
farmer is struggling economically," he said.

 

Present were Cabinet Secretaries Mithika Linturi (Agriculture) Kipchumba
Murkomen (Roads and Transport), Governors Dr Eric Mutai (Kericho), Dr
Hillary Barchok (Bomet), Cecily Mbarire (Embu), Stephen Sang (Nandi), Wisley
Rotich (Elgeyo-Marakwet), Senators Cheruiyot, Wakili Sigei (Bomet), Kathuri
Murungi (Meru), Karungo wa Thangwa (Kiambu,) Tabitha Keroche (Nakuru), Kamau
Murango (Kirinyaga) and MPs.

 

Agriculture Cabinet Secretary Mithika Linturi said it was time to put a
smile on the faces of farmers.

 

"Kenya produces one of the best tea globally, but cannot attract good prices
for our farmers. We must come up with ideas to take advantage of our tea to
maximise earnings. We will support the farmer to access subsidized
fertilizer to lower the cost of production," said Mr Linturi.

 

Cheruiyot welcomed the Summit saying it will help consolidate the proposed
reforms to make the sector better.

 

"This is a perfect opportunity to solidify solutions to the industry. We are
here in Kericho to listen to the farmer because the Kenya Kwanza
Administration approach is Bottom-Up," he said.

 

Kericho Governor Eric Mutai urged the DP to press on with the reforms saying
they will support him in the counties.

 

Farmers welcomed the reforms saying once implemented farmers will get better
pay and improve their lives.

 

"We need to relook into the guaranteed minimum returns and ensure local
factories adhere to it. Farmers are suffering in tea farms. We look forward
to the implementation of the Tea Act as promised by the Deputy President.
This will help our farmers earn more," said Charles Chirchir, tea farmer
from Bomet.

 

They said improved earnings will help them meet their needs without
struggle.

 

"We have been in tea farming for over 40 years. But returns have been very
low. We are struggling to educate our children. We are confident that with
the entry of the Deputy President into the reforms, we will earn more. All
cartels must be eliminated for the farmer to get their rightful share," said
Mr Kinoti Kirigia, a farmer.

 

-Capital FM.

 

 

Namibia: Nida Closes Defaulting SME Stalls

Keetmanshoop — The Namibia Industrial and Development Agency is in the
process of closing down all small and medium enterprises stalls in the
country of tenants operating at its facilities, who failed to honour their
monthly rent.

 

Wessel !Nanuseb, senior manager of corporate services and HR said due to
these defaulters, Nida has become unable to execute its mandate, hence the
decision to close stalls of defaulting SME operators at its facilities
countrywide which commenced in Windhoek three weeks ago.

 

"Closure of these facilities commenced mid-June after defaulting tenants
failed to approach our head office, as urged through public and social media
as well as notices posted at relevant stalls to make arrangements for
servicing arrear payments," he explained in a reply to written questions
sent to him.

 

 

He said in the absence of this arrangement tenants will be denied access to
the stalls and that further remedial measures will include legal options to
be carried out.

 

However, a group of disgruntled entrepreneurs at the Keetmanshoop SME Park
vowed to keep their stalls open despite the Namibia Industrial and
Development Agency decision (Nida).

 

"We will continue with business as usual and keep our premises open until
the Nida management comes back to us to find an amicable solution for our
dilemma," the group's spokesperson, Vaino Hango emphasised.

 

He continued that some of them are selling take-away food and raised the
fear that the food might get rotten and their equipment might get stolen if
the stalls are closed.

 

Hango also felt there was no official communication from Nida informing them
of its intention, apart from placing it in the media.

 

"They just came here on Tuesday and put up notices of closing their
facilities without consulting us in the process," he said.

 

He also disputed the arrear amounts they, as tenants owe the agency which
are as high as N$28 000 for some stalls.

 

"How is this possible if our monthly rental fees are ranging from N$600 to
N$1 200 and also the fact that Nida only took over from the former Namibia
Development Corporation (NDC) in 2020?" he asked. The group, in addition,
claimed that they are also operating on expired NDC contracts. !Nanuseb,
however, in his response urged tenants to approach their finance office in
such instances.

 

One of the tenants, Titus Hamutenya, when approached bemoaned the decision
of Nida to close their premises.

 

"Schools are opening within two weeks and how will I be able to take care of
my children and family if not operating my barbershop?"

 

The tenant said they suffered a lot during the Covid-19 pandemic and that
their businesses are only recovering now, making it impossible to pay the
arrear amounts demanded by Nida at this stage.

 

On a notice shown to this publication by one of the tenants, the arrears
amount to a 50% once-off payment of more than N$12 000.

 

Tuyeni Moses, who is assisting one of the tenants, said as the only
breadwinner in her family, they will suffer heavily if the stalls are to be
closed.

 

"What is also worrisome is that some of these facilities are even rented out
to government employees, she added.

 

-New Era.

 

 

Twitter threatens legal action over Threads app

Twitter is considering legal action against Meta over its fast-growing rival
app Threads.

 

Threads, which was launched to millions on Wednesday, is similar to Twitter
and has been pitched by Meta bosses as a "friendly" alternative.

 

Twitter's Elon Musk said "competition is fine, cheating is not" - but Meta
denied claims in a legal letter that ex-Twitter staff helped create Threads.

 

More than 30 million people have signed up for the new app, according to
Meta.

 

The look and feel of Threads are similar to those of Twitter, BBC News
technology reporter James Clayton noted. He said the news feed and the
reposting were "incredibly familiar".

 

In a move first reported by news outlet Semafor, Twitter attorney Alex Spiro
sent a letter to Meta CEO Mark Zuckerberg on Wednesday accusing Meta of
"systematic, wilful, and unlawful misappropriation of Twitter's trade
secrets and other intellectual property" to create Threads.

 

Specifically, Mr Spiro alleged that Meta had hired dozens of former Twitter
employees who "had and continue to have access to Twitter's trade secrets
and other highly confidential information" that ultimately helped Meta
develop what he termed the "copycat" Threads app.

 

"Twitter intends to strictly enforce its intellectual property rights, and
demands that Meta take immediate steps to stop using any Twitter trade
secrets or other highly confidential information," the letter says.

 

"Twitter reserves all rights, including, but not limited to, the right to
seek both civil remedies and injunctive relief without further notice."

 

BBC News, which has seen a copy of the letter, has contacted both Meta and
Twitter for comment.

 

Mr Musk said that "competition is fine, cheating is not" in response to a
post on Twitter that referred to the legal letter.

 

On Threads, Meta spokesperson Andy Stone posted that "no one on the Threads
engineering team is a former Twitter employee - that's just not a thing".

 

Both Mr Musk and Mr Zuckerberg have acknowledged the rivalry over Threads,
which is linked to Instagram but works as a standalone app.

 

As it launched in 100 countries, Mr Zuckerberg broke more than 11 years of
silence on Twitter to post a highly popular meme of two nearly identical
Spider-Man figures pointing at each other, indicating a stand-off.

 

Shortly after, and as the word "Threads" trended globally on his platform,
Mr Musk said: "It is infinitely preferable to be attacked by strangers on
Twitter, than indulge in the false happiness of hide-the-pain Instagram."

 

Table showing how Threads and Twitter compare, with Threads allowing posts
of 500 characters compared with Twitter's 280, and 5 minute videos compared
with 2min 20 secs. Both allow links, photos, and deleting posts but Twitter
allows direct messaging, shows trending stories, and uses hashtags which
Threads doesn't. Threads has verification but it is one of the services that
you have to pay to access on Twitter, along with longer posts and videos and
an editing function.

Twitter CEO Linda Yaccarino said in a tweet on Thursday that while the
platform, which has previously reported about 260 million monthly users, is
"often imitated" it "can never be duplicated".

 

Both Meta and Twitter have undertaken significant layoffs this year, with
Meta announcing in April that it would cut staff levels by approximately
10,000.

 

Twitter lost a large proportion of its 7,500 employees, as high as 80%, in
waves of redundancies following Mr Musk's takeover last October.-bbc

 

 

Japanese workers are finally seeing their pay jump

Japanese workers have seen their pay go up at a record rate after the
government called on companies to help employees facing rising prices.

 

Official figures show that, compared to a year earlier, wages rose by 1.8%
in May, the fastest pace in 28 years.

 

The salaries of many people in Japan had barely moved for decades as
inflation was almost non-existent.

 

However, as the cost of living jumped the country's Prime Minister Fumio
Kishida urged employers to take action.

 

Prices around the world have risen in recent months as countries eased
pandemic restrictions and the war in Ukraine pushed up the cost of key goods
such as oil and wheat. In Japan costs of everyday items were also pushed
higher by its weakening currency.

 

Inflation in the world's third largest economy has been rising for more than
a year. The most recent official reading showed core consumer prices rose by
3.2% in May from a year earlier.

 

This year, companies including, Fast Retailing, which owns fashion chain
Uniqlo and motor industry giants Toyota and Honda said they would increase
their employees' pay.

 

Earlier this week, Japan's largest trade union Rengo said firms had agreed
at annual labour talks to the largest pay increases in three decades.

 

The hikes represent a "symbolic structural change in the Japanese economy,"
research analysts from Japanese investment bank Nomura said.

 

"Japan's potential labour pool shifted to a rapid decline around the end of
2021," they added. "This should put sustained upward pressure on wages."

 

Can the next Bank of Japan boss fix its economy?

Chinese factories boom while Japan's are in reverse

Earlier this year, Uniqlo owner Fast Retailing said it was raising salaries
to "remunerate each and every employee appropriately for their ambition and
talents".

 

The firm added that it aimed to "increase the company's growth potential and
competitiveness in line with global standards".

 

Meanwhile, Toyota boss Koji Sato said he hoped the move would have a
positive impact across Japan's motor industry and "lead to frank discussions
between labour and management at each company."

 

Rival car maker Honda said the extra money will largely be distributed to
younger employees as starting salaries are boosted.-bbc

 

 

Can Threads make more money than Elon Musk’s Twitter?

Tech billionaires Mark Zuckerberg and Elon Musk have been joking about
setting up a cage match. In the business world, the fight has already begun.

 

Less than a day after Mr Zuckerberg launched his alternative to Twitter,
Threads, it had already claimed some some 30 million sign-ups - lending it
credibility as a serious contender in the world of social media.

 

That's still a small fraction of the hundreds of millions of Twitter users.

 

But analysts think it's a sign that Mr Zuckerberg's Meta has a good shot at
wooing some of its gigantic 3 billion-plus users on Facebook, Instagram and
WhatsApp to the new offering - and bringing advertisers with them.

 

After all, Mr Zuckerberg, whose Meta made more than $117bn in sales last
year, has a monster track record when it comes to selling adverts - and none
of the apparent qualms of Mr Musk, who has disdained advertising at his
electric car company, Tesla, and been looking for alternative ways to fund
Twitter.

 

Mr Zuckerberg said there would be no ads on Threads initially, giving the
company time to fine-tune the app, which allows users to scroll endlessly
through text-based posts.

 

"Our approach will be the same as all our other products: make the product
work well first, then see if we can get it on a clear path to 1 billion
people, and only then think about monetization at that point," he wrote.

 

But eventually, Threads adverts could add 1% to 5% to Meta's overall
revenue, generating more than $6bn in the most optimistic scenario, Justin
Patterson, equity research analyst at KeyBanc Capital Markets wrote in a
note.

 

That's not huge. But it's also not nothing, especially as the company
continues to look for ways to combat the hit to ad sales sparked by stricter
privacy rules from Apple.

 

And it is well within striking distance of Twitter, which generated $4.5bn
in ad revenue in 2021, before Mr Musk's takeover sparked upheaval.

 

Will users stay?

Whether that money materialises will depend on what Threads becomes, if
anything, in the weeks and months ahead.

 

Mr Musk was ready on Thursday with the counter-punch, reportedly threatening
legal action against Meta for stealing trade secrets.

 

But frustration with Twitter has left plenty of people hungry for an
alternative; and Meta's promise of a "saner, kinder place" than Twitter
"supercharged" early sign-ups, Insider Intelligence analyst Jasmine Enberg
said.

 

"Posting. With optimism," quipped Sex and the City star Sarah Jessica
Parker, one of the celebrities jumping into the fray alongside Shakira,
Oprah and Khloe Kardashian.

 

Success will depend on winning over Twitter's power users or people who
never signed up for the app in the first place - no sure bet, analysts said.

 

Though the fashion and lifestyle content that is the bread-and-butter of
Instagram clearly holds appeal for advertisers, it is not clear the world
needs another platform to consume it.

 

Mr Zuckerberg also has a complicated relationship with news, one of
Twitter's main functions.

 

He has said surveys show users want less of it on the platforms he runs and
in Canada, his company is preparing to block local reporting, rather than
pay news providers there for their content.

 

"News hounds and avid Twitter loyalists aren't likely to defect to Twitter,
and Meta will need to keep Threads interesting to maintain the momentum once
the novelty wears off," Ms Enberg said, adding that Mr Zuckerberg - who has
been skewered before for creating copycat products - has "struggled" with
innovation.

 

Regulatory risk

Advertisers will also be looking for confidence that they are not spending
money on a platform exposing them to risks tied to issues like
misinformation and privacy.

 

Under Mr Musk, Twitter, which had struggled to be profitable, has alienated
advertisers with abrupt changes to how the site moderates content and more
recently, a new limit on how many posts audiences can see.

 

Analysts say Meta has already been one of the beneficiaries from Twitter
losing business.

 

But Mr Zuckerberg is not coming to the table with a clean record either.

 

His company has clashed with marketers for years over the transparency and
accuracy of its data, while its handling of user data and misinformation has
drawn widespread criticism.

 

"Advertisers want a clean ... well-lit environment where content is
moderated on the terms and conditions agreed to, on a consistent basis,"
said marketing veteran Lou Paskalis, chief executive of AJL Advisory.
"Overall right now social media is a bit of a dumpster fire."

 

Meta shares popped 4% on Wednesday ahead of the launch - a sign of investor
confidence that Mr Zuckerberg has the ability to make it work, despite flops
like Facebook Dating.

 

But replicating the way that news breaks on Twitter will be difficult, Mr
Paskalis said, leaving room for both platforms to exist.

 

Or, he suggested, the presence of a serious threat could prove a "wake-up
call" for Mr Musk.

 

"One of the keys will be how long will Threads eschew advertising," Mr
Paskalis said. "Whatever that period of time is, that's the period of time
that Twitter has to right that ship."-bbc

 

 

Gary Neville admits error in £400m Manchester development

Former footballer Gary Neville has talked about lessons he learned as he
unveiled more details of his £400m development in Manchester city centre.

 

The St Michael's scheme includes a five-star hotel and luxury flats.

 

The ex-Manchester United star revised the original plans for the scheme
after a backlash from conservationists.

 

He admitted the idea to knock down a pub and the front of the Bootle Street
police station was a "huge mistake" but said the project was now back on
track.

 

Work on the first phase of the project began last year.

 

Neville, who is to join BBC One's Dragons' Den as a guest Dragon for the
2024 series, said the 15-year journey to regenerate the site had been a
"bumpy ride".

 

Plans for the scheme were approved in 2018 after the original proposals were
revised following criticism from conservation groups, including Historic
England (HE).

 

Neville told BBC Radio 5 Live's Wake Up To Money: "It's been challenging all
the way through for different reasons."

 

He cited the global Covid-19 pandemic, worldwide recession in 2007 and
planning issues "which I take personal responsibility for".

 

"I recognise the mistake that I made," the football pundit said.

 

He also said rising interest rates had caused "issues in the market".

 

"What will ultimately happen, is that development will stop for a period
because people won't want to borrow money at the interest rates that are
available, which is really, really bad," he said.

 

"We have to make sure that development continues because the construction
sector is one of the biggest employers in this country."

 

Of his plans for the front of the Bootle Street police station and the Sir
Ralph Abercromby pub he said: "I don't know why or how I was thinking that
at the time.

 

"I love old buildings, I have always renovated old buildings, the idea that
we looked at that pub and the front of Bootle Street police station and
thought we should knock it down, that was a huge mistake."

 

He added: "I have openly admitted that we got it wrong but we have been
corrected and we have owned up to our mistakes and we are now on site."

 

He said the redevelopment would eventually become a global landmark and it
would be of massive benefit to Manchester.

 

He said it would create 2,200 jobs, and 700 extra jobs during construction,
result in a significant affordable housing contribution "into the millions"
and bring "huge economic prosperity" to the area.

 

"We are proud of this project," he said, adding it would raise standards in
hospitality, residential living and commercial buildings in the city.-bbc

 

 

The US is the world's biggest corn exporter - but for how long?

Across the plains of America known as the Corn Belt, farmers are spending
their days and nights nurturing, tending to and praying for the wellbeing of
this common yet globally significant food.

 

Scott Haerr, who harvests 4,000 acres of corn every year (an area nearly
five-times the size of New York's Central Park), is one. Inside a massive
grain silo on his farm in western Ohio, the third-generation farmer examines
corn kernels from last year's harvest. "That's some real good corn," he
says, sifting through a handful.

 

But while the quality of last year's harvest may have been good, the
quantity produced by US farmers was anything but.

 

Rising fertiliser and fuel prices saw the number of acres planted fall by
3.4m compared to 2021. On top of that, a drought in the western plains
fuelled an increase in the price of US corn on the international market.

 

"We had a weather-reduced crop, and we had the Mississippi River drying up
last fall and early winter that slowed our exports way down," Mr Haerr says.
"Because of that, the price of corn went up which made us less competitive."

 

American farmers' hard work and technological expertise has cemented its
place at the top of the pile when it comes to corn exports. Every year, tens
of millions of tonnes are shipped from the US to more than 60 countries
around the globe.

 

But its corn superpower status may be coming to an end. In fact, after
decades at the top, it is on the verge of being overtaken as the world's
biggest exporter of the crop.

 

Buyers in China - the world's biggest importer of corn - have been
cancelling orders from the US, in large part because there are cheaper
alternatives elsewhere.

 

In January, sales of US corn to China were as much as 70% below previous
years' levels. And in May, China started buying South African corn for the
first time. It is a troubling trend for US farmers.

 

It is not just China backing away from US corn: Reuters recently reported
that exports to all destinations excluding China were at their second-lowest
in two decades. Mexico, which buys about $5bn (£3.9bn) worth of US corn
every year, is moving away from the genetically modified variety, a large
amount of which comes from its northern neighbour.

 

One country alone stands to benefit from this trend - Brazil.

 

Farmers there have been converting swathes of agricultural land from pasture
to corn fields in recent years, experts say. Brazil's additional advantage
is that its farmers are able to harvest not one but two crops of corn a
year.

 

"Last year in particular, they had a lot more exportable stock than we did
here in the US," says Frayne Olson, a crop economist at North Dakota State
University. "The longer-term trend is that Brazil is increasing its corn
production, it's becoming a much more dominant player."

 

China has moved accordingly, increasing its orders of Brazilian corn
significantly. The two countries have also signed a series of agreements
that will allow more corn be shipped from Brazil to China.

 

The move by China to diversify food imports is likely spurred by a
combination of factors, according to Harry Murphy Cruise, a China economist
at Moody's Analytics. Aside from price advantages, increased tensions
between the US and China are pushing Beijing to quickly diversify in case
things deteriorate.

 

"Trade is a key tool in the arsenal of all policymakers," he said. "There is
a potential that China is using trade as a form of economic coercion."

 

Mr Cruise said high-profile battles over things like semiconductors,
electronics and batteries were not the only examples of how China has
changed its trade relationship with the US.

 

"It's broader than that," Mr Cruise said, noting that China was looking to
mitigate risk and shore up supply chains for critical goods.

 

"Food and livestock feed are about as critical as it gets," he said.

 

Back in the US, corn prices have been high for many of the same reasons most
other products and services are expensive today: inflation. For farmers, the
rising costs of machinery, seeds and farmland have eaten into their bottom
line.

 

"When you look at the biggest differential in the cost of producing corn in
the US versus Brazil or South Africa or Argentina, it's probably land," says
Frayne Olson.

 

The price per-acre of land in Iowa, the largest corn-producing state in the
US, increased 29% in 2021 and a further 17% in 2022, the highest on record.
In Illinois, the second-largest producer of corn, farmland rent hit record
prices last year.

 

Economists say, however, that Brazil's rise is not likely to have a major
impact on the day-to-day lives of Americans - agriculture does not carry the
same economic weight of decades past.

 

"Agriculture is important - food supplies are critical - but it's not a huge
piece of the whole economy," says Mr Olson.

 

Farmer Scott Haerr, meanwhile, says he is not planning to reduce the number
of acres of corn he plants, since the cost of fertiliser and fuel has eased
from last year's highs.

 

"But we are ready to pivot, if we need to," he says. He believes there's
little to be done to stop Brazil's rapid rise, but that doesn't mean
American farmers are out of the export game.

 

"Indonesia is not importing any corn right now, but their potential for
ethanol (produced from corn) growth is huge," he says. Earlier this year he
and other Ohio corn farmers toured countries in South East Asia to hear
first-hand what buyers want.

 

"We need to make sure we are trying to develop new markets," he says.-bbc

 

 

 

Interest rate ‘rigger’ wins right to appeal in UK

The first trader tried and jailed for "rigging" interest rates, Tom Hayes,
has won the right to appeal his case after a six-year battle.

 

Mr Hayes, who was sentenced to 11 years in jail in 2015, has been seeking a
referral since 2017.

 

He will now have his case referred back to the Court of Appeal.

 

If it rules in his favour, it has the potential to undo not only his own
case but that of nine other traders convicted in the UK of rigging rates.

 

Fighting back tears, the former UBS trader said he was "massively relieved".
Mr Hayes told the BBC he did not know what to feel as "it has been so, so
long".

 

The Criminal Cases Review Commission (CCRC), the body set up to investigate
miscarriages of justice, has decided to refer his case back to the Court of
Appeal.

 

The CCRC made a provisional decision in 2021 not to refer his case. But two
months later the US courts decided the cases against the traders were
fundamentally flawed.

 

Mr Hayes served five and a half years in jail and was released in January
2021, still protesting his innocence.

 

A total of 37 traders and brokers on both sides of the Atlantic have been
prosecuted by the US Department of Justice and the Serious Fraud Office for
"rigging" interest rates.

 

The interest rate traders were accused of manipulating was Libor, the
benchmark interest rate that tracks the cost of borrowing cash.

 

In January 2022, a US appeal court overturned the convictions of
British-born former Deutsche Bank trader Gavin Black and his US colleague
Matt Connolly, saying prosecutors had failed to prove they had made any
false statements in their trials for fraud.

 

The US withdrew its own separate indictment against Mr Hayes last year. He
first petitioned the CCRC to send his case back to appeal in 2017.

 

-bbc

 

 

 

 

 

 

 

 

 

-bbc

 

 

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

Cellphone:      <tel:%2B263%2077%20344%201674> +263 77 344 1674

Alt. Email:       <mailto:info at bulls.co.zw> bulls at bullszimbabwe.com  

Website:         <http://www.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:
<https://bullszimbabwe.com/category/blogs/bullish-thoughts/>
www.bullszimbabwe.com/blog

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

Facebook:
<http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimba
bwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA>
www.facebook.com/BullsBearsZimbabwe

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

 


 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230707/51cc1652/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230707/51cc1652/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 59971 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230707/51cc1652/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 68367 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230707/51cc1652/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 29642 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230707/51cc1652/attachment-0006.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230707/51cc1652/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image006.jpg
Type: image/jpeg
Size: 29361 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230707/51cc1652/attachment-0007.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65577 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230707/51cc1652/attachment-0001.obj>