Major International Business Headlines Brief::: 21 July 2023

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Major International Business Headlines Brief::: 21 July 2023 

 


 

 


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

 


 

 


 

ü  Kenya On Edge As Azimio Protests Resume Thursday

ü  South Africa: Gauteng Consumers Urged to Use Electricity Sparingly

ü  Angola: Azule Energy and Oil Company Afrenda to Sign Agreement

ü  Seychelles' Fisheries Minister - African Fishers' Strike Not Affecting
Tuna Catch for Island State

ü  Ethiopia: Mining Companies in Tigray to Resume Exploration, Production
Work Soon

ü  South Africa: One Tap for 1,000 Families. and It's Been Dry for Seven
Years

ü  Zambia: Clean Up Toxic Lead Waste At Mine Site

ü  Ghana, Portugal Sign Defence, Economic Pacts

ü  Ghana: Mega6 Lotto Revolutionises Lottery Gaming With Launch of New
Mobile App

ü  Ghana: Ugandan, South African Win Royal Academy of Engineering Prize

ü  Liberia: 4th Liberia Economic Update Stresses Rice Production

ü  India bans rice shipments to curb price rises

ü  Brazil's Embraer plans to build electric flying taxi factory near Sao
Paolo

ü  NFL fines outgoing DC Commanders owner $60m

ü  AI will 'lead to more games being made and more jobs'

ü  Elon Musk: Tesla may cut prices again in 'turbulent times'

 


 

 


THE 

 <https://www.cloverleaf.co.zw/> Congo-Kenya On Edge As Azimio Protests
Resume Thursday

Nairobi — Kenya on Thursday remained on the tenterhooks as the opposition,
led by Raila Odinga under the Azimio banner, vowed to proceed with its
three-day anti-government protest campaign that started on Wednesday.

 

President William Ruto's administration's failure to tackle the escalating
cost of living and high inflation challenges is among the coalition's
salient grievances driving them to the streets.

 

Dubbed the "sufuria movement," the coalition went ahead with their protests
across various regions of the country on Wednesday, despite the government's
ban on such demonstrations.

 

On Tuesday, Martha Karua, the Azimio principal, encouraged the youth to
participate actively and demonstrate strong solidarity in their cause.

 

She stressed that the government would only take the necessary action if the
youth and Kenyans at large continue to heed the coalition's call to protest
and express their anger and frustrations.

 

 

"We encourage Kenyans to continue picketing, demonstrating, and protesting
in their own ways in their own local areas in as much as they can. The
government needs to hear our voices," she said.

 

In response to the call, youth from various regions of the country,
including Kisumu, Nakuru, and Kisii counties, subsequently took part in the
banned protests.

 

The demonstrations simultaneously led to clashes with the police, as the
youth expressed their discontent with the situation for the better part of
the day remaining highly charged and uncertain as the protests unfolded.

 

During the confrontations that followed, the police engaged with protesters,
resulting in the tragic loss of three lives from gunshot wounds, while
numerous others sustained injuries.

 

Some parts of the country also witnessed significant destruction during the
incidents.

 

- Subdued Azimio protests -

 

In contrast to previous demonstrations, the protests held on Wednesday in
Nairobi and other towns appeared to be less intense.

 

Although the Azimio leader Raila was missing in action and did not actively
participate in the protests, his supporters heeded his call and took part in
the demonstrations.

 

In a statement released by the coalition, Karua acknowledged that despite
Raila's absence, the protests were deemed successful.

 

"We salute the gallant Kenyan patriots who braved the teargas, water canons
and bullets by turning up in their numbers," Karua said.

 

Following his fifth defeat in the 2022 presidential election against
President Ruto, Raila has organized multiple rounds of protests against the
government since March 2023.

 

Raila's loss to President Ruto was a close one, with a narrow margin of
200,000 votes separating the two candidates.

 

 

Despite his loss, Raila has been vigorously advocating for youth liberation
by encouraging protests, making him a nightmare in President Ruto's
administration.

 

The former Prime Minister, however, remains adamant, asserting that
President Ruto's victory was a result of rigging orchestrated by the former
Independent Electoral and Boundaries Commission (IEBC) Chairperson, Wafula
Chebukati.

 

President Ruto and Raila, once close allies, have now become bitter
adversaries, each holding hard-line stances on the country's state of
affairs.

 

President Ruto has maintained that he is determined to quell Raila's
anti-government crusade which he regrets is detrimental to his efforts of
improving the country's economic fortunes.

 

In a significant move, the government has already withdrawn the security
details of prominent leaders affiliated with the Azimio coalition, including
Governors Simba Arati (Kisii), James Orengo (Kisii), Anyang Nyon'go
(Kisumu), Achillo Ayacko (Migori), and others.

 

Surprisingly, the state also withdrew the security detail of Mama Ngina
Kenyatta, the mother of retired President Uhuru Kenyatta, who serves as the
Chairman of the Azimio coalition.

 

- Truce -

 

But amidst the grandstanding, religious leaders have been at the forefront
in calling for a truce which presently appears unheeded by President Ruto
and Raila with both leaders charring their own paths.

 

"We all have an obligation to pursue peace. we have no other country to run
to," said Nyeri Archbishop Anthony Muheria who was in the company of other
bishops on Wednesday.

 

The bishops also urged President Ruto to repeal the suspended Finance Act
2023, stating that it had acted as a catalyst for the ongoing
demonstrations, which they expressed regret had escalated into chaos and
violence.

 

"We, therefore, ask the president to repeal the Finance Act and seek to
institute a process that will achieve the same goal within the context of
the current economic situation," said Muheria.

 

The clerics asserted that the implementation of the Finance Act 2023 would
burden Kenyans who are already struggling to afford essential goods and
secure stable employment, further exacerbating their financial hardships.

 

"The social economic distress is real, we do realize that part of the
disappointment and disillusionment of Kenyans that is leading to the
agitation and anger is the severe economic distress," said Muheria.

 

While the leaders were issuing the clarion call, President Ruto who was on a
tour of Kericho County emphasized that he would only engage with the
opposition leaders on issues directly affecting Kenyans, rather than
discussing power-sharing arrangements.

 

"We do not have a problem talking with anyone, but I will not be a party to
talks of sharing power. Kenyans already decided that during the elections,"
he said.

 

Kenya's Ministry of Foreign Affairs (MFA) on Wednesday made an appeal to the
international community, urging them to consider imposing travel sanctions
on leaders responsible for orchestrating violent protests in the country.

 

"We urge our international friends to closely scrutinize the architects of
insurrection and anti-democratic elements when they wish to visit their
countries and not to allow some of them to go and taint their democratic
principles," Foreign Affairs Cabinet Secretary Alfred Mutua said.

 

-Capital FM.

 

 

 

 

South Africa: Gauteng Consumers Urged to Use Electricity Sparingly

State power utility Eskom has urged Gauteng residents to use electricity
efficiently as a cold front moves into the province.

 

This after the South African Weather Service (SAWS) warned of a "dramatic
drop in temperature" with daytime temperatures expected to barely reach 20°C
in parts of the province.

 

"Gauteng is experiencing severe cold weather conditions. Customers are urged
to use electricity wisely. Use alternative methods to keep warm, such as
wearing more layers of clothing, using a throw or a hot water bottle instead
of a heater," the power utility said.

 

Meanwhile, Eskom has announced that load shedding has been ramped up due to
breakdowns at eight generating units on Tuesday evening.

 

 

"The breakdowns ... have put a severe strain on the power generation system.
The delay in returning to service a generating unit each at Kendal, Kriel,
Matla [power stations] and two generating units at Tutuka power station is
contributing to the current capacity constraints. Eskom teams are working
tirelessly to return these generating units to service," the power utility
said.

 

>From 5am today (Thursday), Stage 3 load shedding will be implemented with
Stage 4 kicking in from 4pm, lasting until 5am on Friday morning.

 

Load shedding will then drop to Stage 2 until 4pm and will be tailed by
Stage 4 also until 5am. This pattern will repeat until further notice.

 

Breakdowns at power stations have rendered some 19 127MW of generation
capacity offline, coupled with a further 2 313MW out of service due to
maintenance.

 

"Demand of electricity is expected to increase towards the weekend.
Therefore, we appeal to the members of the public to assist in reducing
demand by switching off non-essential appliances.

 

"We would like to thank those who do heed the call to use electricity
sparingly and efficiently, including switching off geysers and pool pumps
from 5pm to 9pm as this lowers demand and helps in alleviating the pressure
on the power system and contributes to lower stages of load shedding," Eskom
said.

 

-SAnews.gov.za.

 

 

 

 

Angola: Azule Energy and Oil Company Afrenda to Sign Agreement

Luanda — Angola's largest independent oil and gas producer Azule Energy and
Afrenda oil and gas company will sign an agreement with the aim to sale
certain equity interests in Blocks 3/05 and 3/05A in shallow waters, located
in the Lower Congo Basin.

 

In a note to which ANGOP had access to, the company said that the
transaction which is valued at USD 48.5 million, includes payment of
outstanding dues of up to USD 36 million.

 

The completion of the transaction, which is expected to take place by the
end of this year, will still await legal issues and the approval of the
Angolan government.

 

 

The company's note adds that the disposal of the non-operated interests of
Azule Energy in these blocks in the shallow waters is linked to the
strategic priorities of the company's core assets in Angola.

 

According to the Azule Energy CEO, Adriano Mongini, the transaction
represents an important step in light of the strategy to join efforts in the
core assets in Angola and while reducing the carbon footprint.

 

He said that Azule Energy remains committed to its vision of long-term
sustainable growth and development in Angola's energy sector, adding that as
the company completes this disposal, the company will remain committed to
pursuing opportunities that are aligned with its strategic objectives, while
contributing to Angola's social and economic progress.

 

Azule Energy is an independent joint venture officially established on 1
August 2022 and joins British Petroleum Company (BP) and the Italian
multinational energy company Ente Nazionale Idrocarburi's (ENI) businesses
in Angola, equally.

 

Azule Energy is Angola's largest independent oil and gas producer, holding 2
billion barrels of oil equivalent in liquid resources and expects to
increase to around 250,000 barrels of oil equivalent per day (boe/d) of own
production over the next 5 years.

 

It has stake in 20 licences (of which 6 are exploration blocks), stake in
Angola the Liquefied Natural Gas (LNG) and it is the operator of the new gas
consortium. Azule Energy has stakes in the ENI in Solenova, a solar company
jointly owned with Sonangol, and the collaboration in the Luanda Refinery.

 

-ANGOP.

 

 

 

Seychelles' Fisheries Minister - African Fishers' Strike Not Affecting Tuna
Catch for Island State

African fishermen, mostly from Senegal and Ivory Coast who work on dozens of
European Union vessels that operate in West Africa and the Indian Ocean,
took part in a strike that lasted from June 5-8, alleging wage violations.

 

Around 40 vessels flying the European Union (EU) flag are allowed to fish in
Seychelles waters under the Sustainable Fisheries Partnership agreement and
protocol between the island nation and the EU.

 

SNA spoke to the Minister for Fisheries and Blue Economy, Jean-Francois
Ferrari, to discuss whether the situation has any impact on Seychelles.

 

 

SNA: Is the latest strike having an impact on Seychelles?

 

J-F.F: No. What happened is that fishing stopped in the Seychelles waters
for two to three weeks. However, this does not mean that we will have less
fish at the end of the year because the amount of tuna fished in the
Seychelles waters is already determined by the yellowfin quota.

 

Whether this is fished in six months or in two or maybe even a year you are
limited by the quota. Now the vessels stopped for two to three weeks, they
are now back at sea fishing.

 

The reports that I am receiving are that at the moment the fishing is not
too good, due to the southeast monsoon - but it will get better. It is a
normal pattern in the year.

 

SNA: What is the current situation following the strike?

 

J-F.F: The seafarers on tuna vessels across the world's unions are still
negotiating. There is a moratorium on no striking, but they give themselves
six months to come to an agreement between themselves - the boat owners, and
the representatives of the fishers. This applies to seamen in the Indian
Ocean, in West Africa and in the Pacific.

 

 

SNA: Is Seychelles making efforts to train its own seafarers so that it may
also benefit from the tuna fishing in its waters?

 

J-F.F: The EU is under the obligation to have a Seychellois seafarer on
board the vessel, if they do not have one to take the post, the boat owners
pay us because they do not have a Seychellois on board. The agreement with
the EU is that they will take sailors, it's just that we do not have enough
sailors.

 

SNA: Many Seychellois students are training at the Seychelles Maritime
Academy, how is it that we do not have the required personnel?

 

J-F.F: While we are working on it, it is really a mindset change that is
required so that we may have more people join this industry. While it is
hard and dangerous work, it really is a lucrative area to work in.

 

-Seychelles News Agency.

 

 

 

Ethiopia: Mining Companies in Tigray to Resume Exploration, Production Work
Soon

Addis Ababa — :-The Ministry of Mines has announced that activities are well
underway to enable companies engaged in mineral exploration and production
in the Tigray region resume operations soon.

 

Various international mining companies have already given confirmation to
resume operation soon.

 

During the war in northern Ethiopia, various development activities,
including the mining sector, were disrupted and suffered several damages.

 

However, development activities and provision of services have been restored
due to the stability created following the peace agreement.

 

 

ENA has talked with the Minister of State for Mines, Million Mathews,
regarding the activity in the Tigray region, especially in the exploration
and production of gold and other minerals.

 

According to him, international companies that were engaged in mineral
development and exploration in the region had faced challenges due to the
war. However, he said there are opportunities now to restart mining
exploration and development.

 

He also explained that the peace agreement signed by the government of
Ethiopia and the TPLF in Pretoria, South Africa to end the war and bring
lasting peace signed has brought great relief to the stakeholders engaged in
the mining sector, he added.

 

As a result, favorable conditions have now been created for the companies
engaged in the production and exploration of gold, cement and other minerals
in the Tigray region to resume operation to work, the Minister of State
said.

 

 

Messobo cement factory has already started operations; he said, adding
efforts are also being underway to let other companies to resume the
exploration and production of mining.

 

"We are making efforts to help companies that were already in operation in
the Tigray region to resume work. Before the war, some big name
international companies were under mining exploration in Tigray. Since peace
prevails now, we want those companies to come and start activities, visit
the area. There are many things that have been damaged because of the war.
We have frequent discussions with companies about the possibility of
restarting operations."

 

The State Minister recalled that some gold factories in the region
previously produced up to 900 kilograms of gold and supplied it to the
central market. He also said that they are working with the interim
administration of the region to bring back those factories to their former
production capacity.

 

For this purpose, the gold bank in the Shire has been reopened and experts
have also been assigned to restart the gold procurement system, he
indicated.

 

He further elaborated that the interim administration has taken strict
measures against individuals engaged in illegal acts in the sector.

 

The law enforcement action will give confidence to the licensed miners, he
said.

 

According to him, international mining companies, including Newmont, which
is famous in the international gold mining sector in the region, have
confirmed that they will resume their operations soon.-ENA.

 

 

South Africa: One Tap for 1,000 Families. and It's Been Dry for Seven Years

Taps ran dry seven years ago in Ngqamakhwe Ngcisininde village, Eastern
Cape.

About 1,000 households have no piped water.

The Amathole District Municipality says a water project to address this is
at a planning stage.

The only tap ran dry seven years ago in Ngcisininde Komkhulu village in
Ngqamakhwe, about 35 kilometres from Butterworth in the Eastern Cape.

 

According to residents the last time they had piped water was in 2016, when
a construction company building a school in the area installed a standpipe
connected to a windmill.

 

"I'm not lying when I say that we last had clean [tap] water in 2016, after
we begged the contractor to install a standpipe for us. Unfortunately, the
water only came out for few months and the tap went dry," says villager
Luyanda Gciyane.

 

 

He said the standpipe was shared by 1,000 households, who are now struggling
to get water.

 

There is an old tank from the 1980s that used to supply water but the
villagers say it broke in 2005. For years they asked the Amathole District
Municipality to please repair the tank, but nothing was done.

 

GroundUp met Kwanele Mahlukwane fetching water with a bucket from a natural
spring about a kilometre from his home in upper Ngcisininde.

 

"The issue of lack of water in this village is long, and we no longer bother
the ward councillors about it," he said.

 

Mahlukwane said one had to come very early in the morning to get clean water
at the spring, before livestock arrived.

 

Ngcisininde Komkhulu is one of the oldest villages in Ngqamakhwe. Most
residents we spoke to said they have been living there for more than 40
years. Many villagers are elderly and depend on social grants. Some
villagers have managed to buy rainwater tanks, but the last good rains were
in February and their tanks are dry.

 

 

Ward 18 Councillor Lunga Dyantyi (ANC) said since he became councillor in
October 2021, he has been begging the Amathole District Municipality to
address the issue. He said the majority of the village households are
without water, but not his entire ward area.

 

District municipal spokesperson Nonceba Madikizela-Vuso confirmed that parts
of Ngcisininde Komkhulu have no working water infrastructure.

 

She said the Ngqamakhwe Regional Water Supply Scheme, which is at a planning
stage, will resolve this. She gave no timelines.

 

Madikizela-Vuso said the municipality had taken over the water services from
the Department of Water Affairs in 2006. After an assessment was done in
2008, an infrastructure refurbishment programme was developed and funding
secured.

 

In 2015, two wind turbines were installed to pump water for the community.
Currently, only one wind turbine is running. Madikizela-Vuso said "work was
afoot" to get the other turbine back to operation.

 

She said, "The area in question is supplied through the wind turbine which
feeds an elevated tank from which water gravitates to the standpipe. So we
have two standpipes in the village with only one currently running."

 

GroundUp could not get an explanation as to why the standpipe is dry and why
it cannot be repaired while the villagers wait for the water project to be
completed.

 

-GroundUp.

 

 

 

 

Zambia: Clean Up Toxic Lead Waste At Mine Site

The Zambian government should make comprehensive efforts to clean up the
contaminated former lead mine in Kabwe, the capital of Zambia's Central
province, Environment Africa and Human Rights Watch said today. The
organizations released a video in which youth activists from Environment
Africa describe life in a dangerously polluted town and actions needed to
remedy the situation.

 

Kabwe is one of the worst pollution hot spots in Africa because of
contamination from a former lead and zinc mine. The mine was originally
owned directly or indirectly by Anglo-American and other British colonial
companies, later nationalized, and closed in 1994. But the mine's toxic
waste was never cleaned up. As a result, lead dust from its large uncovered
waste dumps blows over to nearby residential areas such as Chowa, Kasanda,
and Makululu, putting the health of 200,000 people at risk.

 

 

"This is Kabwe, this is our home," said Mwelwa Lungu, a youth group member
at Environment Africa. "And we are entitled to live in a clean, healthy, and
sustainable environment that doesn't make us sick."

 

For the video, three youth activists from Kabwe conducted interviews about
the lead contamination in Kabwe with different interlocuters. They
interviewed a boy who has been exposed to lead and his parents; a geologist
who has studied lead in Kabwe; and the Member of Parliament for Kabwe
Central, Hon. Chrizoster Phiri.

 

Medical researchers estimate that over 95 percent of children living near
the former mine in Kabwe have elevated lead levels in their blood. About
half of them require urgent medical intervention.

 

 

Lead is a toxic metal with no safe level of exposure. It causes stunted
growth, learning difficulties, memory loss, developmental delays, and many
other irreversible health effects. It can also cause coma and death.
Children are especially at risk. The World Health Organization lists lead as
one of 10 chemicals representing a "major public health concern."

 

With a World Bank loan, Zambia's government has been undertaking some
limited efforts to address the contamination in Kabwe: it has tested and
treated some children and cleaned up a small number of homes and a highly
polluted canal. But these measures will quickly be reversed if the source of
the contamination itself - the mine waste - is not cleaned up and continues
to pollute the surrounding areas.

 

"The Zambian government urgently needs to develop a comprehensive
remediation program for the former lead mine in Kabwe," said Juliane
Kippenberg, associate child rights director at Human Rights Watch. "The
government should seek technical and financial support for remediation from
companies responsible for the pollution, in line with the 'polluter pays'
principle, as well as from donor agencies and governments."

 

In March 2022, President Hakainde Hichilema instructed the Ministry of Green
Economy and Environment to establish a technical committee to "address and
lead the process of comprehensive remediation" in Kabwe. However, the
committee is still not functioning. The Ministry has put forward the vision
of Kabwe as a "Green City" on top of "buried lead surfaces," but no concrete
plans have been released.

 

More than a year after the president issued the directive, it is vitally
important for the technical committee to promptly begin work on a concrete
and feasible plan for the comprehensive cleanup of Kabwe mine, Environment
Africa and Human Rights Watch said.

 

In the video, Hon. Phiri, the Member of Parliament for Kabwe Central, urges
the government "to find a lasting solution" and "clean up the waste piles at
the former mine."

 

In 2019, an in-depth Human Rights Watch investigation showed the harmful
impacts of lead contamination on children's rights to health, information,
and education.

 

"As the duty bearers are running out of excuses, we young people are running
out of time," said Caleb Mulenga Bwalya from Environment Africa's youth
group. "The government needs to act now."-HRW.

 

 

 

 

Ghana, Portugal Sign Defence, Economic Pacts

Ghana and Portugal have signed bilateral instruments of co-operation in the
areas of defence, political consultation and trade between the two
countries.

 

The President, Nana Addo Dankwa Akufo-Addo and his Portuguese counterpart,
His Excellency Marcelo Rebelo de Sousa signed the bilateral agreement in the
Portuguese capital Lisbon as part of his three-day visit to Portugal on
Tuesday.

 

This latest form of engagement, President Akufo-Addo said, would go a long
way to strengthen the ties of friendship and the bonds of co-operation
between Ghana and Portugal.

 

 

Speaking at a Joint Press Conference with President Marcelo Rebelo De Sousa,
on Tuesday, the President stated that the move "is borne out of a decision
by Ghana "to turn our back on our old economy, which has been dependent on
the production and export of raw materials, and also dependent on aid."

 

According to President Akufo-Addo, "we want to build a value-added,
industrialised economy with a modernised agriculture, which is neither
victim nor pawn of the world economic order. We want our relations with
Portugal and, indeed, the rest of the world, to be characterised by an
increase in trade and investment co-operation."

 

He added that "this is the way to develop healthy relations between our two
countries, and put Ghana at the high end of the value chain in the global
market place, and create jobs for the teeming masses of Ghanaians,
particularly the youth."

 

He pointed out that, the discussions also focused on boosting further
political, cultural, people-to-people exchanges and cooperation at the
multilateral level and on the need to promote a better world by addressing
global issues relating to the attainment of the Sustainable Development
Goals (SDGs).

 

 

"Towards this end, we have noted with satisfaction the value that the
Ghana-Portugal Business Forum scheduled to be held tomorrow will add to our
investment initiatives," he said.

 

President Akufo-Addo further disclosed that, the President of Portugal has
also "resolved to give voice to Ghana's cause and interests within the
European Union. We, on the other hand, will also help to facilitate the
provision of a platform for enhanced economic engagement between Portugal
and the member countries of ECOWAS. This should boost the trade volumes, and
help bring prosperity to our peoples."

 

On global security, he stated that, with President Joe Biden of the United
States of America and President Emmanuel Macron of the French Republic
calling publicly for reforms at the UN Security Council in line with the
Ezulwini consensus, they look forward to the leaders of the three (3) other
Permanent Members also throwing their support behind the reform process.

 

He assured President De Sousa that Ghana will "collaborate with Portugal to
find solutions to challenges such as the eradication of widespread poverty,
elimination of irregular migration, insecurity and human rights violations,
terrorism and violent extremism, human and drug trafficking, piracy, as well
as climate change and its attendant, negative impact on the environment and
livelihoods."

 

At the Lisbon City Council, President Akufo-Addo was given the keys to the
city of Lisbon by the Deputy Mayor, Filipe Anacoreta Correia.

 

-Ghanaian Times.

 

 

 

Ghana: Mega6 Lotto Revolutionises Lottery Gaming With Launch of New Mobile
App

Zeta Technologies Ltd, a Ghanaian software development company, has
officially launched its highly anticipated MEGA6 Lotto game, ushering in a
new era of digital lottery gaming in Ghana.

 

The launch event, held last Friday, unveiled the innovative game and
highlighted the unique features that set Mega6 apart from other industry
players.

 

Speaking at the launch, Mr Sammy Awuku, the Director General of the National
Lottery Authority (NLA), said his outfit was committed to creating a
conducive environment to help local companies to enter the lottery space.

 

"In our efforts to sanitise the lottery industry, we are determined to help
Ghanaian companies to play active role in the lottery space," he said.

 

Mega6 is an electronic lotto developed by Mega6 Lottery to serve the needs
of lottery consumers.

 

It would be operated on Monday, Wednesday and Friday, and consumers can play
the lottery on their phones through USSD code *266# or by downloading the
application on Android or through the website of the company.

 

Mr Awuku said both the NLA and the Ghana Investment Promotion Centre Act
enjoined the Authority to create the necessary conditions for locals to
enter the lottery business.

 

He said Ghanaian companies would be supported to play meaningful role in the
lottery industry.

 

The Gaming Manager of Mega6 Lottery, Emmanuel Sackey, said the Mega6 Lottery
was introduced to bring convenience to lottery consumers.

 

 

He said unlike traditional lottery games, Mega6 offers players higher
chances of winning.

 

"Players play by simply selecting 6 numbers out of 49 and win prizes if any
2 or more of the numbers they selected appear in the draw. Players can win
life-changing prizes of up to 1 million Cedis with stakes as low as 2
cedis," he said.

 

He said, "Mega6 provides an effortless and convenient gaming experience.
Players can play through the user-friendly Mega6 mobile app available for
download on both Android and iOS devices. The app allows individuals to
select their lucky numbers, place their bets, and monitor the draws from the
comfort of their homes. Players can also access the game on mega6lotto.com
or via *266# on all mobile networks."

 

"With every stake, Mega6 Lotto players give Ghanaian youth the chance to
live out their dreams by contributing to the Mega6 Impact Fund, a social
impact fund dedicated to creating opportunities for Ghanaian youth in the
areas of sports, education, and the creative arts," he said.

 

-Ghanaian Times.

 

 

 

Ghana: Ugandan, South African Win Royal Academy of Engineering Prize

A South African engineer, Edmund Wessels owner of Flexigyn and a Ugandan
Engineer, Anatoli Kirigwajjo owner of Yunga, have jointly won this year's
edition of the Royal Academy of Engineering's Africa Prize for Engineering
Innovation final.

 

They were both presented with £25,000, medals, certificates and branded wear
Ghana T-shirts whilst two other participants, a Nigerian engineer,
Chukwuemeka Eze owner of Revive Kit and a Tanzanian Engineer, Gibson Kawago
owner of WAGA PAWA Pack were each presented with £10,000.

 

Four finalists delivered pitches at the awards ceremony in Accra on Thursday
before a panel of judges chose the winners.

 

 

Also, of the remaining 11 shortlisted participants, a Nigerian engineer, Mr
Tolulope Olukokun, owner of ThinkBikes, CoolMax won the One to Watch
category and was presented with £5,000 and a certificate.

 

The Africa Prize for Engineering Innovation, founded by the Royal Academy of
Engineering in the United Kingdom in 2014, is Africa's biggest prize
dedicated to supporting and upscaling engineering innovation. Since its
inception, it has supported over 130 entrepreneurs across 20 African
countries.

 

The entrepreneurs receive a rigorous business training programme and
lifelong project support through the Africa Prize alumni network.

 

Speaking at the event, the Dean of the School of Engineering Sciences at the
University of Ghana, Professor Elsie Effah Kaufman, noted that innovation
was not limited to engineering and its path was not easy to walk on due to
the challenges it presents.

 

 

"Many innovators face constraints in accessing capital, infrastructure and
technological resources, encounter challenges reaching underserving
populations, bridging the digital divide, navigating complex regulatory
frameworks and bureaucracies, and the short supply of funding for research,"
she said were some of the challenges African innovators face.

 

She explained that African innovators were resilient and resourceful, hence
the ability to leverage their unique circumstances to produce
ground-breaking solutions towards the socioeconomic development of the
continent.

 

"By capitalising on the available opportunities and addressing the
challenges head-on, African innovators have shown again the potential to
drive transformational change and shape and prosperous future for the
continent," she said.

 

She further made a passionate appeal to all female innovators on the African
continent to participate fully in the future editions of the Africa Prize
for Engineering Innovation and contribute to the solutions of the future.

 

Anatoli Kirigwajjo owner of Yunga said that his company was started when he
lost over $1,300 worth of assets in a break-in, with little chance of the
thieves being caught.

 

"We hope that with our household networks, communities will become harder
targets for criminals which will ensure safety, and in turn create the space
for economic activities to thrive," he explained.

 

He urged all African Innovators to apply for the next edition of the Africa
Prize for Engineering Innovation, as it provided the platform to grow their
business, connect them to the right people, and help them to improve their
businesses.

 

Edmund Wessels owner of Flexigyn said due to his participation in the
programme, he and his team realised that it was not enough to help only
gynaecologists with the right tools but "we need to do more to help women
across the continent."

 

He added that engineering was not only a formal process as anyone could be
an engineer through self-learning and trying to make a difference.

 

-Ghanaian Times.

 

 

 

Liberia: 4th Liberia Economic Update Stresses Rice Production

The Acting World Bank Country Manager to Liberia, Mack Capehart Mulbah, says
the launch of the 4th Edition of the Liberia Economic Update is critical for
lightening the country's path to shared prosperity and poverty alleviation.

 

Speaking Tuesday, July 18, in Monrovia during the launch of the update
titled "Getting Rice Right for Productivity and Poverty Alleviation",

 

Mr. Mulbah said the World Bank considers the exercise very important,
considering its highlight on Liberia's staple, rice, and the impact it has
on the Liberian economy and people's lives and livelihoods.

 

He explained that the Government of Liberia and its partners have invested
and are still investing a significant amount of resources to enhance
productivity in the agricultural sector, with a focus on value chain for
rice.

 

He said nonetheless, local rice farmers continue to be less competitive due
to stark price difference between locally grown and imported varieties of
rice - birthed by the many supply-side constraints faced in the rice sector
and households' preference for imported rice.

 

The World Bank Acting Manager recalled that recently, to limit the effect of
rising global food prices on households, the government began to subsidize
rice imports to ensure availability and affordability of the commodity.

 

According to him, this action amplifies the importance of rice in Liberia,
adding that it also signals a call to action to enhance productivity in the
sector.

 

However, Mr. Mulbah said rice accounts for a significant share of
households' diets and budgets in Liberia, adding that significant share of
the country's rice needs is met through imports.

 

He explained that this year's edition of the economic update endeavors to
shed light on the rice economy in Liberia considering the demand, supply,
and price dynamic of the commodity, and implications for productivity and
poverty alleviation, adding that it delves into factors constraining
productivity in agriculture broadly, and the rice sector and offers a broad
direction for policies.

 

Central Bank of Liberia Deputy Governor for Economic Policy, Dr. Musa
Dukuly, thanked the World Bank for the launch and called for its unwavering
support.

 

He noted that the world has witnessed the design of a new global development
agenda (the sustainable development goals) and so there is a global mandate
for each country to not only adopt these goals but to fully implement and
ensure that the desired results are attained.

 

However, he explained that Liberia's development and sustenance are
constrained by existence of dynamics of rising population and supply chain
constraints, and subsidies will always fall short of the required estimated
subsidy to completely eradicate food insecurity, wondering at what point
should there be a halt.

 

Dr. Dukuly said moving towards food sustainability requires enormous
sacrifice and questions that are confronting policymakers on how to develop
a more sustainable strategy toward food sustainability, as they rethink a
matching strategy.

 

"For instance, if the subsidy is 20 million, we invest 10 million in direct
rice production and allocate 10 million as subsidy or 5 million in rice
production and 15 million in subsidy. But there is no direct fix to this
problem. A combination of temporary and untargeted measures should be
pursued gradually in response to the food challenges", he suggests.

 

According to the report, growth in the agricultural sector accelerated to
5.9 percent in 2022 from 3.3 percent in 2021, with increased crop
production, especially rice and cassava primarily for domestic consumption
as main driver of growth in the agriculture sector.

 

Liberia's economy expanded by 4.8 percent in 2022 despite global headwinds
from the war in Ukraine, high global inflation, and depressed demand in
advanced economies.

 

Tuesday's launch was attended by Mack Capehart Mulbah, Acting World Bank
Country Manager; Minister of Agriculture, Jeanine M. Cooper; Deputy Minister
of Finance for Budget and Development Planning, Tanneh Brunson; Deputy
Governor for Economic Policy, Central Bank of Liberia, Dr. Musa Dukuly;
panelists, and development and partners.

 

-New Dawn.

 

 

 

India bans rice shipments to curb price rises

India has outlawed the export of non-basmati white rice in an attempt to
ward off looming domestic price spikes.

 

Heavy rains have hurt crops in the country and rice prices have risen by
more than 11% over the last 12 months.

 

Non-basmati white grain currently accounts for about a quarter of India's
rice exports, the Ministry of Consumer Affairs said as it announced the
policy change.

 

Experts warned the move could push up global food prices.

 

"It's fair to say this will have quite an impact on global food prices,"
said Emma Wall, head of investment analysis and research at Hargreaves
Lansdown.

 

Food supplies are already under pressure, after Russia's withdrawal this
week from a deal guaranteeing safe passage of Ukrainian grain, including
wheat.

 

India is the world's biggest exporter of rice, accounting for more than 40%
of global shipments. Non-basmati rice is mainly exported to countries in
Asia and Africa.

 

Last year, the Indian government imposed a 20% export tax to try to
discourage foreign sales. It has also limited wheat and sugar shipments.

 

But exporting can be more lucrative for Indian farmers than selling
domestically.

 

The government said that farmers would still be able to export other kinds
of rice, including long-grain basmati, ensuring they "get the benefit of
remunerative prices in the international market".

 

The state will also consider requests to allow shipments to other countries
based on food security needs, the Directorate General of Foreign Trade said.

 

The invasion of Ukraine last year caused global food prices to surge.

 

While those pressures have since eased at an international level, in India,
bad weather has damaged crops in many northern states, prompting the cost of
many items - including tomatoes and onions - to rise sharply.

 

Vegetable prices jumped 12% from May to June, contributing to the rising
cost of living. Inflation rose to 4.8% last month, which was higher than
expected as a result of the climbing food costs.

 

The rising cost of living has put political pressure on the government in
India, ahead of national elections next year. The country will also see
state-level elections in the coming months.

 

Devinder Sharma, an expert in agriculture policy in India, said the
government was trying to get ahead of an anticipated production shortfall,
with rice-growing regions in the south also exposed to risks of dry rain as
the El Nino weather pattern sweeps through later this year.

 

"The government is taking a very, very precautionary kind of approach," he
said.-bbc

 

 

 

Brazil's Embraer plans to build electric flying taxi factory near Sao Paolo

The Brazilian plane maker Embraer says a new factory will be built near Sao
Paolo to produce electric flying taxis which it hopes will take to the skies
from 2026.

 

The aircraft, to be made by its subsidiary Eve, will resemble a small
helicopter with enough space for up to six customers.

 

It is envisaged a trip will cost $50-$100 (£39-£78) per person.

 

Eve says it already has orders for almost 3,000 air taxis.

 

It hopes to assemble a prototype this year. US regulators recently released
a timeline for air taxis to be flying there as early as 2025.

 

The electric vertical take-off and landing aircraft will not need a runway
but can travel long distances like an aeroplane. Electric motors should
reduce noise and pollution compared with standard planes.

 

It has been argued the aircraft could help reduce traffic congestion in
crowded cities, without being too expensive for customers. They have also
been seen as an alternative for transporting cargo.

 

The factory will be built in the city of Taubate about 140km (87 miles) from
Sao Paulo, Brazil's economic capital.

 

The drone-like passenger vehicles will initially be used in taxi fleets, AFP
news agency reported.

 

The first flights will have a pilot but a later rollout of self-piloted
vehicles is also in the company's plans.

 

The vehicles will be 100% electric, allowing for emission-free flights.-bbc

 

 

 

 

NFL fines outgoing DC Commanders owner $60m

The National Football League (NFL) has fined former Washington Commanders
owner Dan Snyder $60m (£46.6m) after a 17-month long investigation.

 

The investigation concluded that Mr Snyder sexually harassed a former
employee and that the team intentionally underreported revenues to the NFL.

 

Mr Snyder has called the misconduct allegations "outright lies".

 

This comes after NFL owners approved Mr Snyder's sale of the team.

 

In 2022, former team employee Tiffani Johnston, a former cheerleader and
marketing employee, told the House Oversight Committee that Mr Snyder had
made "sexual advances" during a networking event - placing his hand on her
thigh under a table.

 

He later allegedly pushed her towards the back of his vehicle to have her
join him after the dinner. He has denied these claims.

 

Independent investigator Mary Jo White, former chair of the US Securities
and Exchange Commission, said in the 23 page report that Ms Johnston was
found to be "highly credible".

 

"The conduct substantiated in Ms White's findings has no place in the NFL,"
said NFL commissioner Roger Goodell. "We strive for workplaces that are
safe, respectful and professional. What Ms Johnston experienced is
inappropriate and contrary to the NFL's values."

 

Ms White and her colleagues reviewed over 10,000 documents, interviewed
dozens of witnesses, sometimes more than once, and received assistance from
a team of forensic accountants.

 

Along with corroborating evidence, the report notes testimony from four
witnesses, who recalled Ms Johnston telling them about the incident with Mr
Snyder shortly after.

 

NFL and Commanders sued for 'deceiving' DC fans

NFL's Redskins to drop controversial name and logo

The report also details company mishandling of finances which emerged from
Congressional testimony from a former Commanders sales executive who said
the team had "two sets of books" for financial accounting and concealed
ticket revenue from the NFL.

 

While, the report says it is clear the team "underreported some amount of
shareable revenue
 in deliberate violation of the League's revenue sharing
rules," they could not determine the exact amount of revenue withheld.

 

This is mainly because "of the club's failures to cooperate in producing
requested relevant documents, as well as the unwillingness of certain former
senior executives to be interviewed," the report says.

 

Mr Snyder announced late last year he would sell the team he had owned a
majority of since 1999. The deal was worth just over $6bn, a remarkable
increase over Mr Snyder's original $800m investment.

 

The team was sold to a group led by Josh Harris, who is a co-owner of the
NBA's Philadelphia 76ers and the NHL's New Jersey Devils.

 

Alongside issues off the pitch, the new owners will be seeking to improve
the Commanders' NFL performance. The team last won a playoff game in
2005.-bbc

 

 

 

 

AI will 'lead to more games being made and more jobs'

Artificial Intelligence will lead to more jobs in the video game industry,
one of the bodies representing games developers has told the BBC.

 

Dr Richard Wilson, boss of TIGA, says AI will "reduce the cost of making
games and speed up the process".

 

Video games have been using forms of artificial intelligence for decades.

 

But use of the latest technology in games creation is concerning some who
worry that it could cost jobs and create legal issues for studios.

 

UKIE, another organisation that looks after games companies in the UK, said
it recognises there are concerns, but added the developments in this field
were an "exciting opportunity" for the industry.

 

Even in the 1980s when players would put their coins into an arcade machine
to help Pacman (or Ms Pacman) collect white dots on the screen, it was a
type of AI that told the ghosts how to hunt the player down.

 

"This is a much simpler form of AI compared with what we're talking about
today, but fundamentally the core principles are the same," says Dr Tommy
Thompson, an AI in games expert.

 

"It's helping make intelligent decisions by looking at a snapshot of a game
and from that characters can make intelligent judgements on what to do."

 

But while AI has been used to influence what happens on screen for years, it
could now influence the process of getting games onto screens in the first
place.

 

Being able to quickly create hundreds of pages worth of scripts, voice
background characters or draw thousands of pieces of art could be a game
changer for the industry according to some senior figures.

 

"It should allow games studios to make routine aspects of game development
automated, and then use that space to be more creative and focus on other
areas," Dr Wilson says.

 

"Reducing the overall cost of development will mean more games studios which
should, therefore, mean more jobs."

 

Guy Gadney, one of the co-founders of Charisma.ai, a technology platform
that allows generative AI techniques to be used in games, thinks it will
give makers a new way of telling stories.

 

It all comes down to how computer-controlled characters can interact with
the player.

 

Instead of a handful of pre-prepared lines that are regurgitated to players
at random, AI can allow for characters like these to 'think' and respond
more intelligently depending on the story that has been written for them and
the behaviour of the player.

 

He explains: "In games, players are often running through the
three-dimensional environment, we want people to stop and engage more.

 

"We want players to have deep dives in moments, where they sit and have
natural conversations with characters. Previously this happened by giving
you four conversation choices on screen, which is very limiting, it's only
an illusion of choice. We want more than that."

 

For Guy Gadney unlocking the potential of non-playable-characters will
change how games tell stories, by allowing players to interact with what's
in front of them differently to how they do it now. Charisma.ai is also
working with companies like Warner, Dreamworks and Sky about how this
technology might also work in other forms of storytelling.

 

Banner around links to stories about AI

This week BBC News is focussing on AI, how the technology affects our lives
and what impacts it may have in the near future.

 

Dr Tommy Thompson, who also has a dedicated YouTube channel for AI in
gaming, is excited about the potential of the technology. But he also warns
that the industry needs to be cautious.

 

He says using widely available, open access AI tools in their current form
in games "is not practical" for studios.

 

"Who owns the copyright? With image generation for example, there's several
ongoing lawsuits where people are asking if their art was used as the basis
for image creation, and was appropriate consent given?

 

"If you're generating assets for your game using some AI platforms then you
don't own any of that copyright on a legal basis. If you were to ship that
game anyone could use those assets and put them in another game and there'd
be zero legal basis to stop them. The law will say, 'well, actually you
didn't own copyright.'"

 

Some games studios are creating their own AI platforms to get around these
issues, but that is time-consuming and expensive. For small games companies
who might be drawn to open source AI tools, the risks outweigh the benefits
at the moment, according to Dr Thompson.

 

"I think it is important that we step back and look at the larger
implications of this," he says.

 

"It is not something that's going to get solved overnight. That isn't to say
that generative AI tools aren't being used internally in studios in new and
really interesting ways, but I don't think it's going to be the Nirvana that
people are imagining."

 

In a statement to the BBC, Daniel Wood, UKIE co-CEO, said: "The video games
industry is always at the cutting edge of technology so we are already using
AI in many areas including production, art, interaction with in-game
characters and community management to create even more exciting and
engaging experiences for our players.

 

"Whilst UKIE and the wider industry will continue to look at topics such as
copyright and the fast-changing skills needs of games businesses, the future
possibilities of AI promise a lot of exciting opportunities for our
sector."-bbc

 

 

 

 

Elon Musk: Tesla may cut prices again in 'turbulent times'

Tesla chief executive Elon Musk says the electric carmaker could continue to
cut prices as the world economy is in "turbulent times".

 

The multi-billionaire's comments came after the company reported that its
profit margins had been squeezed as it faced tough competition.

 

In recent months, Tesla has cut its prices several times in major markets,
including the US and China.

 

The firm's shares fell by more than 4% in after-hours trade in New York.

 

Tesla reported that its profit margin had fallen to the lowest level in four
years.

 

The company said its gross profit margin fell to 18.2% for the three months
to the end of June, down from 26.2% for the same period last year.

 

During a call with Wall Street analysts, Mr Musk signalled that he was open
to cutting prices further if needed.

 

"One day it seems like the world economy is falling apart, next day it's
fine. I don't know what the hell is going on," he said.

 

"We're in, I would call it, turbulent times," Mr Musk added.

 

Investors are concerned about the possibility of more price cuts at Tesla,
Arun Sundararajan, a Professor at the NYU Stern Business School, told the
BBC.

 

"This feels like a price war with no long term strategy to raise margins if
Tesla wins the war," he added.

 

Tesla sees record deliveries after price cuts

Musk on layoffs, misinfo and sleeping in the office

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

 

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

 

Earlier this month, the company said it delivered a record number of
vehicles in the three months to the end of June.

 

It comes as more carmakers have agreed to adopt Tesla's electric vehicle
(EV) charging technology.

 

On Wednesday, Japanese motor industry giant Nissan said its EVs in the US
and Canada would be equipped with Tesla-developed charging ports from 2025.

 

Nissan Americas' chairperson Jérémie Papin said the firm was committed "to
making electric mobility even more accessible".

 

The announcement follows similar moves by US car manufacturers Ford and
General Motors.-bbc

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


CBZ

AGM

Virtual

July 21 2023 | 4pm

 


POSB

AGM

Chapman Golf Club

July 25 2023 |10am

 


Afdis

AGM

Virtual | St Marnocks, Lomagundi Road, Stapleford

July 26 2023 | 12pm

 


RTG

AGM

Rainbow Towers Hotel

July 27 2023 |12pm

 


ZHL

AGM

206 Samora Machel Avenue

July 28 2023 | 10am

 


Delta

AGM

Virtual | Head Office, Northridge Close, Borrowdale

July 28 2023 | 12:30pm

 


 

Heroes’ Day

 

Aug 14

 


 

Defence Forces Day

 

Aug 15

 


zIMBABWE

 

2023 harmonised elections

August 23

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
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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