Major International Business Headlines Brief::: 01 June 2023

[Bulls n Bears]

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Major International Business Headlines Brief::: 01 June 2023 

 


 

 


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

 


 

 


 

ü  South Africa: Govt Discusses 'Emergency' Shortening of Karpowership
Contracts

ü  Africa: Top 100 Most Admired Brands in Africa Named

ü  Kenya: Over 4 Million Farmers Registered in 5 Months

ü  Cairo Named New Venue For 3rd Intra-African Trade Fair - IATF2023 Now Set
For 9-15 November 2023

ü  Tanzania: New App Set to Benefit Foreign, Local Tourists

ü  Africa Must Negotiate for Common Framework in Harnessing Minerals - Dr
Fatima Denton

ü  Kenya: Adoption of Circular Economy Will Create Jobs, Keep Environment
Clean - PS Ng'eno

ü  Nigeria Enhances Global Offshore Drilling Riser Markets Estimated to Hit
$4.1bn

ü  Nigeria: Confusion As Document Puts Petrol Price At Over N500 Per Litre

ü  Kenya: Clearing and Forwarding Experts Root for Tech in Operations

ü  Ghana: PURC Justifies Increase in Utility Tariffs

ü  Liberia: Mines and Energy Inspector General Warns Against Illicit Mining
Practices

ü  Uganda: MTN Re-Introduces MTN Webphone With Webex

ü  Tanzania: PM Tasks Energy Ministry to Expand Fuel Stock Capacity

ü  Diddy says Diageo neglected his tequila due to race

ü  Air New Zealand weighing passengers before flying

ü  Elon Musk: Tesla boss on first China trip in over three years

 


 

 


 <https://www.cloverleaf.co.zw/>          South Africa: Govt Discusses
'Emergency' Shortening of Karpowership Contracts

Cape Town — According to Rudi Dicks, head of the project management office
in the Presidency and member of the National Energy Crisis Committee,
government is discussing the possibility of reducing the term for
Karpowership contracts as an "emergency' measure", Engineering News reports.
Dicks called for contracts of potentially five to ten years would be
preferable to the initial term of 20 years. This follows a comment by
Electricity Minister Kgosientsho Ramokgopa who recently said that contracts
with emergency power producers should not last longer than three to five
years.

 

Despite being named as a preferred bidder in government's Risk Mitigation
Independent Power Producer Procurement Programme in 2021 to provide over 1
200MW of power at at three of South African ports, Karpowership - which
utilises off-shore ships as floating gas power plants - has drawn criticism
over the cost of its 20-year contract along with its refusal of
environmental authorisation for its three vessels at the selected docking
sites of Richards Bay, Ngqura and Saldanha Bay.

 

Dicks said: "Of course, the initial term has been 20 years, we have taken
the view as Necom [the National Energy Crisis Committee] that a shorter-term
period would have to be looked at, potentially between five and ten years.

 

"It's really because this is an emergency intervention . . . [and] this, of
course, goes to the heart of whether one has to sign a 20-year power
purchase agreement. This is the conversation we are having, and Minister
Ramokgopa is already having engagements with Karpowership with regard to
these sorts of interventions."

 

 

 

Africa: Top 100 Most Admired Brands in Africa Named

Kampala, Uganda — · Nike retains #1 ranking for 5th consecutive year in a
relatively unchanged Top 10 ranking of the most admired brands in Africa.

 

· Unicef is the #1 NGO.

 

· Coca Cola the #1 non-African brand.

 

· MTN the #1 African brands recognised for doing good for society.

 

· MTN and Dangote remain the most admired African brands.

 

· Standard Bank surges to the #1 most admired financial services brand.

 

· DSTV retains ranking as the most admired media brand.

 

 

Brand Africa, a non-profit brand-led movement that seeks to inspire a
brand-led African renaissance, on May 25 released the 13th list of the most
admired brands in Africa. The list is based on a survey and rankings
conducted by Geopoll, Kantar and Brand Leadership, across 32 African
countries that account for more than 85% of the continent's GDP and
population.

 

According to the list, African brands regressed 20% from a 10-year high of
17% to 14% share of the Top 100 most admired brands in Africa. This despite
high hopes that with the progress of the African Continental Free Trade Area
(AfCFTA) and other initiative to drive African initiatives designed to make
Africa more competitive in the global economy.

 

"It is concerning that despite the momentum in operationalising the AfCFTA
and rising internal pride in continent albeit against global economic
challenges, that African consumers have reverted to their trusted, mostly
non-Africa brands, rather than give African brands a chance," says Thebe
Ikalafeng, the founder and chairman of Brand Africa. "Nonetheless, this is
the state of brands in Africa, and an urgent need to build trust in Made in
African brands."

 

This year all African brands lost ground, except Zambia's Trade Kings, the
highest African mover and new at #38. The Africa communications giant MTN
dropped out of the Top 10 most admired brands in Africa.

 

Europe, led by Adidas at #2, has grown its share of the most admired brands
in Africa to 37%, ahead of North America at 32% led by Nike, the #1 brand
for the 5th consecutive year. Asia which retains its 17% share led by
Samsung, the #3 brand for the 3rd consecutive year.

 

In a new category of brands that are doing good for people, society and the
environment, inspired by business shifting from profit to purpose, Unicef
emerged as the #1 NGO, Coca Cola the #1 non-African brand and MTN the #1
African brands.

 

 

In a category specific ranking of the Top 25 financial services brands,
Africa's oldest banking group, Standard Bank surged to the #1 most admired
brand in Africa, displacing GTBank, which had led the rankings for the past
3 years, but is reeling from recent UK regulatory issues, service challenges
and a tough competitive environment. The category is dominated by South
African (6) and Nigerian (6) brands which account for 48% of the rankings,
with the USA (4), led by VISA, at 16% percent, making up 64% of the Top 25
brands.

 

In a category specific ranking of the Top 25 media brands, DSTV, the
consumer brand of the Multichoice Group, retains its dominant ranking ahead
of BBC and CNN as the most admired media brand in Africa. Consistent with
previous rankings, non-African media dominate the continent, accounting for
76% of the Top 25 brands.

 

MTN is the #1 most admired African brand in the Top 100 brands recalled
spontaneously, while Dangote has retaken the lead as the #1 most admired
brand when respondents are prompted to recall an African brand specifically.

 

Fifteen (15) percent of the Top 100 brands are new entrants, led by USA's
Oral B the highest mover at #34, Zambia's Trade Kings at #38 and the USA's
Jordan at #42.

 

The Brand Africa 100/ Africa's Best Brands research took place between
February and April 2023 and covered 32 countries across all economic regions
in the continent.

 

The 2023/24 research is once again being conducted by Brand Africa partners
Geopoll who led the fieldwork, and Kantar and Brand Leadership who led the
analysis and rankings. Geopoll covered sub-Sahara Africa, Analysis; a Kantar
affiliate in Mauritius, covered the sub-Sahara Islands, and Morocco's
Integrate, an affiliate of Kantar covered North Africa. Kantar and Brand
Leadership produced the rankings, while the Brand Africa Scientific
Committee convened to review, analyse and validate the results.

 

"With an ever increasing number of countries, greater sample size, and the
growth of mobile across the continent, more than ever, using mobile
continues to prove to be an effective tool to reach and access respondents
across the continent," said , Bernard Okasi, Director of Research, GeoPoll,
which has been the lead data collection partner since 2015.

 

Karin Du Chenne, Chief Growth Officer Africa Middle East for Kantar, which
has been the insight lead for Brand Africa since inception in 2010 says,
"despite the increased countries and sample sizes which have invariably
grown the volumes of brands analysed, the survey continues to yield a very
consistent picture of the leading brands in the continent, albeit not yet to
Africa's advantage."

 

As a non-profit initiative and to ensure the objectivity and independence of
the rankings, the Brand Africa 100/Africa's Best Brands research to
determine the most admired top-of-mind brands in Africa are not funded by
any brand.

 

Over the next few weeks, starting on 6 June in Ivory Coast, Brand Africa
will be releasing country specific rankings of the most admired brands and
the most admired brand-builders in the leading countries across the
continent.

 

Independent (Kampala).

 

 

 

Kenya: Over 4 Million Farmers Registered in 5 Months

Nairobi — A total of 4,287,713 farmers have been registered in the past five
months in the ongoing farmers registration drive, data from the Agriculture
and Interior Ministry shows.

 

The newly released data shows Rift Valley County leading with 1,241,482
farmers registered followed by Eastern region with 888,675.

 

Nyanza, Western, and Central Kenya have crossed the half-a-million mark,
capturing the details of 663,438, 614,146, and 591,776 farmers respectively.

 

The Coast region has compiled a list of 235,779 farmers, while North Eastern
(44,679) and Nairobi (6,738) closed the list with the lowest numbers so far

 

A total of 16 counties have filed a significantly high number of registered
farmers, with all of them crossing the one hundred thousand mark.

 

Nakuru is currently the frontrunner in the exercise with a count of 230,787
farmers. Bungoma is second with 203,310, then followed closely by Kakamega,
which has 203,173 farmers' details in its records.

 

 

Participation in the exercise is also high in Meru, where a total of 197,048
farmers have availed their personal information for registration.

 

Notably, some counties have relatively low numbers of registered farmers,
with Isiolo, Mombasa, Marsabit, Wajir, Garissa recording well under ten
thousand each.

 

However, the variation in progress is also attributable to other inflexible
factors particularly the size and population of the county as well as its
major socio-economic practices.

 

The government launched the voluntary exercise in January with the intent to
establish a national database of all farmers, detailing their profiles,
location, and crop acreage among other identifiers.

 

The move that has also facilitated the ongoing distribution of fertilizer

 

-Capital FM.

 

 

 

Cairo Named New Venue For 3rd Intra-African Trade Fair - IATF2023 Now Set
For 9-15 November 2023

The Egyptian capital city of Cairo has been announced as the new host of the
third Intra-African Trade Fair (IATF2023) which will now take place from 9
to 15 November 2023.

 

The IATF2023 Advisory Council said in Cairo that the decision to change the
venue and dates of the continental event, originally scheduled for Abidjan,
Côte d'Ivoire, from 21 to 27 November 2023, followed indications received
from the Government of Côte d'Ivoire that it was no longer in a position to
host the trade fair due to difficulties faced in importing semi-permanent
structures and in complying with certain hosting requirements.

 

Chief Olusegun Obasanjo, Chairman of the IATF2023 Advisory Council, which is
the governance body of the trade fair, commended the commitment of the
Egyptian Government for agreeing to step in as the new host.

 

"We must thank the Government of the Arab Republic of Egypt for its
responsiveness, flexibility and dedication in, once again, hosting the
Intra-African Trade Fair," said Chief Obasanjo. "This, undoubtably,
demonstrates its commitment to promoting and expanding trade among African
countries. With Egypt, the biennial IATF was launched in 2018 with flying
colours. We, therefore, reassure all IATF2023 stakeholders, including
exhibitors, conference delegates, buyers and trade visitors, that we have no
doubt that the experience we have gained with Egypt in 2018 and with South
Africa during the second edition in Durban in 2021, will make this third
edition of Africa's premier trade and investment platform a success beyond
our expectations."

 

Host country of the highly successful inaugural IATF in 2018, Egypt offers
first-class infrastructure and facilities. The IATF2023 organisers, in close
collaboration with the Egyptian Ministry of Trade and Industry, are on track
to promptly finalise the necessary arrangements and ensure that IATF2023
takes place as planned in excellent conditions.

 

"Coordination is underway with the African Export-Import Bank (Afreximbank)
to host the third edition of the Intra-African Trade Fair, due to be held
during 9th – 15th November 2023," said Eng. Ahmed Samir, Minister of Trade
and Industry of Egypt. "We are keen on extending all-out support to convene
the fair in a form that suits Egypt's position in Africa. IATF2023 will
provide a unique and valuable platform for businesses to access an
integrated African market of over 1.3 billion people with a GDP of over
US$3.5 trillion created under the African Continental Free Trade Area."

 

IATF2023 harkens to the decision of the 2023 Assembly of Heads of State and
Government of the African Union which adopted "Acceleration of AfCFTA
Implementation" as the African Union Theme of the Year 2023. This
underscores the high importance of the IATF as a continental initiative and
as the marketplace for the AfCFTA.

 

About the Intra-African Trade Fair

 

Organised by the African Export-Import Bank (Afreximbank), in collaboration
with the African Union Commission (AUC) and the African Continental Free
Trade Area (AfCFTA) Secretariat, the Intra-African Trade Fair (IATF) is
intended to provide a unique platform for facilitating trade and investment
information exchange in support of increased intra-African trade and
investment, especially in the context of implementing the African
Continental Free Trade Agreement (AfCFTA).

 

IATF brings together continental and global players to showcase and exhibit
their goods and services and to explore business and investment
opportunities in the continent. It also provides a platform to share trade,
investment and market information with stakeholders and allows participants
to discuss and identify solutions to the challenges confronting
intra-African trade and investment. In addition to African participants, the
Trade Fair is also open to businesses and investors from non-African
countries interested in doing business in Africa and in supporting the
continent's transformation through industrialisation and export development.

 

The 3rd Intra-African Trade Fair (IATF2023) is expected to attract:

 

More than 1,600 exhibitors.

More than 35,000 visitors, buyers and conference delegates from all 55
African countries, the Diaspora and the rest of the world; and

More than US$43 Billion in trade and investment deals.

To register as a delegate or as an exhibitor for IATF2023 please visit:
www.intrafricantradefair.com

 

 

 

 

Tanzania: New App Set to Benefit Foreign, Local Tourists

The tourism sector has received a shot in the arm, following the launch of a
one-stop shop application that local and foreign tourists can easily use to
access various products and services.

 

The App, coming in both platforms: web and mobile app, was launched by Dar
es Salaam-based Tempo Africa, a tour and travels company, set to
revolutionise travelling experience.

 

The Tempo Africa Managing Director, Ms Pendo Lema, told reporters yesterday
that following a gap in the sector and difficulties encountered by tourists
in accessing different services, the company decided to come up with the
solution.

 

"We are mainly focused on innovations to improve and provide quality
renting, travelling, air ticketing and tour services," Ms Lema said.

 

She assured tourists of safe and reliable services while visiting Tanzanian
top destinations that includes getting perfect rides at low cost with Tempo
Ride, booking hotels, lodges, booking flights, access to all tourism
companies in Tanzania and verified guides.

 

 

All these, she said, will be done at a very minimal fee and are accessible
through a website application.

 

On the mobile application, currently, users can access information about
rentals, hotels and lodges and reservations only, but the plan is to have
all these services on both the website and mobile applications.

 

According to the director, the move is aimed at complementing the
government's efforts in promoting tourism, as Tanzania is one of the best
tourism destinations in the world.

 

"President Samia Suluhu Hassan has been on the frontline to promote tourism
through the Royal Tour Film. We want these tourists to have an easy time in
locating all important services that they require, just in the comfort of
their living rooms or offices through their cell phones," she said.

 

The company is ready to collaborate with the Ministry of Natural Resources
and Tourism in making sure tourists have memorable stays that will make them
choose Tanzania as the best tourist destination following the simplicity in
accessing various services before and during their stay.

 

She said Tempo Africa was established in 2021 and is a registered trademark
in Tanzania.

 

-Daily News.

 

 

 

Africa Must Negotiate for Common Framework in Harnessing Minerals - Dr
Fatima Denton

Africa must negotiate for a common framework in harnessing its critical
minerals under the African Continental Free Trade Area (AfCFTA) to
accelerate the development of the continent, the Director of the United
Nations University Institute for Natural Resources in Africa (UNU-INRA), Dr
Fatima Denton, has said.

 

In line with the African mining vision, which is to make mining the basis
for economic development, she said, Africa must have common agenda for the
extraction of its critical mineral resources.

 

They include lithium, cobalt, copper, manganese, which are critical for the
world's Energy Transformation.

 

 

Speaking at a three-day international conference on minerals to Africa's
development, Dr Denton further stressed the need for Africa to lead the
discourse on Energy Transition.

 

She said Africa must move from the export of raw materials to value
addition.

 

The three-day programme, being organised by the Third World Network-Africa
(TWNAfrica) and the Southern Africa Resource Watch, is on the theme 'Energy
Transition, Africa's Extractive Resources, and the Future of Africa's
Development'.

 

Sponsored by the Dutch Ministry of Foreign Affairs, the programme was
attended by more than 35 participants across the world, from academia,
development organisations and civil society.

 

Dr Denton stressed the need for Africa to diversify its economy from mineral
and fossil to tourism, agriculture and services to create jobs for the
teeming youth given the transition from fossil to green and cleaner sources
of energy.

 

"Africa is in a pole position to lead in the green transition and to reduce
energy poverty," she stated.

 

The Coordinator of TWNAfrica, Dr Yao Graham, said Africa must have a clear
strategy and a collective approach in the extraction of its critical
minerals.

 

He said Latin American countries had set clear agenda strategy on its
critical minerals, and Chile recently nationalised its critical minerals'
wealth.

 

"Critical minerals, if properly used, can help Africa transition to cleaner
sources of energy and provide energy for the structural transformation and
industrialisation of Africa," he stated.

 

Dr Graham said not transitioning to cleaner energy sources to reduce climate
change was not an option for Africa, and what was important was to use
Africa's minerals wealth for the energy transition process.

 

-Ghanaian Times.

 

 

 

Kenya: Adoption of Circular Economy Will Create Jobs, Keep Environment Clean
- PS Ng'eno

Nairobi — Environment and Climate Change Principal Secretary Festus Ng'eno
says Kenya was accelerating the adoption of circular economy as part of its
sustainable waste management so as to create green jobs alongside a safe and
clean environment.

 

Speaking on Tuesday evening when he addressed the third Kenya International
Investment Conference (KIICO 2023) at a Nairobi hotel, Ng'eno regretted that
the country had not fully mainstreamed circular economy despite over 90
percent of the 8 million tonnes of waste generated annually being either
organic or recyclable.

 

"Kenya's interventions are informed by the realization that we are not
circular. In areas such as waste management, our national approach has been
linear whereby all waste is mixed together and destined for dumpsites.

 

 

"Studies show that what is dumped is 60% organic, 30% recyclables and 10%
others. While this is disappointing, it implies that there exists a huge
space for circularity and sustainable consumption and production to bring
rapid and extensive gains," PS Ng'eno told the international audience.

 

Ng'eno noted that Kenya's traditional linear model of industrial production
coupled with the country's low uptake of circularity had led to massive
environmental pollution, and advocated for the full adoption of circular
economy as a sustainable fix for the sorry state of affairs.

 

"Circular economy provides an opportunity to reverse this trend through
reduction, re-use and recycling. Enabling circular economy and
environmentally sustainable use through extended producer responsibility,
life-cycle assessment, reuse and recycling of waste in Kenya is a very
fundamental shift," the PS said.

 

Ng'eno spoke in great detail on the steps Kenya was taking towards the full
uptake of circular economy covering policy and legislative reforms as well
as structural adjustments in the country's production systems including last
year's passage of the Sustainable Waste Management Act and the 2017 ban on
single-use plastics.

 

"Sustainable Waste Management Policy and Act (2022), which proposes a
transition from linear to circular economy. The Policy and Act also includes
provisions for the development of Extended Producer Responsibility (EPR)
schemes.

 

"Consultations with the private sector and other stakeholders on the EPR
regulations (2022) has been finalized and the regulation will be enacted
soon. The regulations call upon producers to ensure their products and
packaging are reusable and recyclable as well as embrace being ecological
life cycle friendly," the PS said.

 

Other reforms cited by Eng Ng'eno include the 2020 ban on the use of
single-use plastics in parks and nature areas; an ongoing baseline study on
waste water management; curricula on sustainable waste management; and a
green growth and circular economy toolkit developed by his state department.

 

Alongside ensuring that the country draws optimal economic and environmental
value from its waste resources, Eng Ng'eno said Kenya was pursuing circular
economy and sustainable waste management as part of its international
obligations on climate change mitigation.

 

"Circular economy provides for enhanced value extraction from resources and
can turn economies around by ensuring optimal resource use with minimal
demand for virgin raw materials and reduced pollution.

 

"This ideal is the basis of the Paris Agreement climate change aspirations
towards a below 1.5 degree temperature moderation. Kenya has already
domesticated these aspirations in the updated Nationally Determined
Contribution (NDC) submitted to the UNFCCC in December, 2020," Eng Ng'eno
noted.

 

At the same time, PS Ng'eno rallied African countries to develop common
positions on environmental protection, calling for the inclusion of an
environment and climate change provision in the African Continental Free
Trade Area (AfCFTA).

 

"We should be intentional to cooperate, build capacity and discuss
opportunities to strengthen our respective commitments in this area, and to
consider international agreements necessary to protect the environment and
provide for a pillar on Environment and Climate Change in AfCFTA," PS Ng'eno
concluded.

 

-Capital FM.

 

 

 

Nigeria Enhances Global Offshore Drilling Riser Markets Estimated to Hit
$4.1bn

Nigeria has been classified as a major crude exploration hub in Africa,
driving the global offshore drilling riser market estimated to reach $4.1
billion by 2023 and $4.9 billion by 2033.

 

The biggest deepwater reserves of crude oil remain in Nigeria, which is
first among the ten nations. The bulk of reserves are located offshore in
the Gulf of Guinea, the Bight of Benin and the Bight of Bonny as well as in
the Niger River Delta throughout the nation.

 

Two main drivers in this market are responsible for accelerating its growth
in the past few years.

 

The increasing number of offshore projects along with the rising production
of shale gas globally will garner the requirement for offshore drilling
risers.

 

 

At the same, the extraction of crude oil has driven extensive investments in
offshore production and exploration activities globally.

 

A significant surge in the investments for multiple offshore projects has
been prominent for the last five years and hence propelling the global
demand for offshore drilling risers.

 

The Middle East and Africa are thought to be the most lucrative region for
this market as large offshore oil and gas deposits are present in several
Middle Eastern and African nations, says Oil Review Africa.

 

The South Pars Gas Complex present in the Persian Gulf, which is the biggest
gas field in the world, as well as recent developments of oil and gas
deposits in the eastern Mediterranean Sea are anticipated to support the
market's expansion.

 

For instance, Shell Plc, stated in January 2022 that a large oil and gas
discovery had been made in a Namibian offshore well.

 

Resources estimated to be worth 250-300 million barrels of oil and gas
equivalent have been discovered since the Graff-1 well drilling began in
December 2021. The region, which has been essentially inert for the past 25
years, is anticipated to see a big increase in foreign investment as a
result of the Graff-1.

 

Although little onshore exploration is taking place, the current emphasis of
exploration efforts is mostly on the deep as well as ultra-deep offshore.
Therefore, it is anticipated that the number of offshore drilling risers in
the region would increase throughout the projection period due to upcoming
offshore E&P operations, particularly from the West African region.

 

Recovering crude oil prices have been driving investments in offshore
exploration and production (E&P) activities around the world. A significant
uptick in the number of final investment decisions for a number of offshore
projects has been prominent over the past couple of years, which has been
driving the contracts for offshore drilling risers.

 

Emergence of integrated service providers, who provide both design
engineering and installation services has been a prominent trend, as they
help reduce the overall cost of the project to E&P operators.

 

Unstable crude oil prices and widening supply-demand gap are anticipated to
hamper the growth prospects of the offshore drilling riser market in the
foreseeable future.

 

Also, the growing number of offshore discoveries in Nigeria, Iran, South
Africa, Egypt, Guyana, and Mozambique are expected to create significant
growth opportunities for offshore drilling riser manufacturers in the Middle
East & Africa region.

 

-Leadership.

 

 

 

Nigeria: Confusion As Document Puts Petrol Price At Over N500 Per Litre

The downstream sector of Nigeria's petroleum industry has been thrown into
confusion as a document puts the retail price of petrol at over N500 per
litre.

 

The document, obtained by Vanguard, put petrol price in Abuja, Lagos and
Kano at N537, N488 and N540 per litre respectively.

 

The Authority Chief Executive, Nigerian Midstream and Downstream Petroleum
Regulatory Authority, NMDPRA, Mr. Farouk Ahmed, whose agency regulates
sector activities, did not respond when Vanguard called repeatedly for
confirmation.

 

But, an oil marketer, who pleaded anonymity, dismissed it as fake, adding,
"How can any credible business base their pricing on an obviously fake
random list circulating on social media?"

 

-Vanguard.

 

 

 

Kenya: Clearing and Forwarding Experts Root for Tech in Operations

Nairobi — Clearing and forwarding experts are rooting for the adoption of
technology in the sector to enhance efficient service delivery.

 

In a meeting that brought on board representatives from the finance and
warehousing sectors, among others, experts agreed on the importance of
streamlining the customs process.

 

"This is an excellent opportunity for industry professionals to share
knowledge and explore solutions that address the evolving challenges faced
by the clearing and forwarding agents," said John Waweru, trustee of the
Kenya International Freight and Warehousing Association (KIFFA).

 

The experts also observed that there is a need to incorporate best practices
and industry trends with the goal of ensuring seamless operations in the
clearing and forwarding sector using technology.

 

The digital space is a sector that the clearing and forwarding experts
observe as rich ground for their operations, with the delegates at the
meeting keen on incorporating its use in their activities.

 

They also underscored the essence of continuous learning and speedy
adaptation to technological advancements, as well as embracing automation
tools and data-driven insights, which they say will be critical in
optimizing clearing and forwarding operations.

 

-Capital FM.

 

 

 

Ghana: PURC Justifies Increase in Utility Tariffs

The Public Utilities Regulatory Commission (PURC) has justified the recent
increases in utility tariffs, saying it is critical to keep utility service
providers in operation, amidst the current economic challenges.

 

According to the Executive Secretary of PURC, Dr Ishmael Ackah, the new
tariffs would ensure that the utility service providers were financially
viable and efficient.

 

He said, for instance that electricity service providers would need GH¢1.3
billion while suppliers of water would need GH¢650 million, to operate and
function effectively.

 

 

Dr Ackah said this at a training programme on regulatory and policy issues
for members of PURC's Media Fellowship, in Accra, last Saturday.

 

The PURC last Wednesday increased the average end-user tariff for
electricity by 18.36 per cent across board for all customer groups,
effective June 1, this year.

 

Dr Ackah explained that the decision to increase utility tariffs had been
necessitated by the price of natural gas, exchange rate, hydrothermal mix
and inflation.

 

The PURC Executive Secretary said that the second quarter tariff decision of
18.36 per cent for electricity would help to fully recover 100 per cent of
the inflationary effect, 100 per cent of the gas price effect and 50 per
cent of the exchange rate effect.

 

Also, Dr Ackah said that the PURC had over the past five months spearheaded
some innovations, including the publication of a Register of all Power
Purchase Agreements (PPAs) in Ghana; the development of a Net Metering
Reckoner, which enables customer-generators of electricity to determine
their electricity chargers for imports and exports of electricity with the
distribution grid.

 

"The Commission has also updated and published the 2022 - 2025 Electricity
and Water Major Tariff Review Decision Paper which provides the rationale
underpinning the major tariffs and includes the prices of all power plants
in Ghana," he added.

 

Dr Ackah said the PURC had established a state-of-the-art Water Laboratory
to test, guarantee and enhance the quality of potable water supplied to
homes.

 

He said the Commission was also taking steps to address the issue of
distribution losses of electricity and water utilities.

 

"To this end, the Commission has put in motion a Loss Reduction Strategy
initiative in collaboration with other key stakeholders, to complement the
efforts of the utilities in their loss reduction drive. This would
subsequently enable the implementation of key measures that will help both
the electricity and water sectors achieve a reduced loss figure," he said.

 

Dr Ackah gave the assurance that the PURC would continue to work effectively
to promote a financially sustainable energy and water sector.

 

-Ghanaian Times.

 

 

 

Liberia: Mines and Energy Inspector General Warns Against Illicit Mining
Practices

Monrovia — Mines and Energy Ministry's Inspector-General, Joshua Obediah
Zaza Arku, has issued a stern warning against illegal and illicit mining
practices mainly by Class 'C' license holders in the western region of
Liberia.

 

According to the zoning map of the Country's mining sector, Grand Cape
Mount, Bomi, and Gbarpolu counties constitute Region 'F', situated within
the western region. Inspector-General Arku intoned that the ongoing phase
two of his nationwide inspection tour of mining sites in the western region
will leave no stones unturned in scrupulously implementing the mineral and
mining laws of the Country during his inspection operations.

 

 

The Mines Inspector-General said, as his team of inspectors crisscrosses
mining Region 'F', all undocumented miners illegally extracting gold,
diamond and other minerals from the region will be brought to book for
prosecution as provided for by law. IG Arku further indicated that a key
part of his work in Gbarpolu, Cape Mount and Bomi is to ascertain Miners'
compliance with safe mining techniques, a program under donor funding at the
Ministry [Mines and Energy] which trains miners how to proceed with their
mineral recovery work harmlessly.

 

Soil reclamation or backfilling of deeply dug mining pits is of serious
consideration in safe mining practices which allows for re-use of land
previously used for mineral recovery. This supports agricultural activities
to boost livelihood or alternative income generating activities those rural
communities.

 

This inspection mission to the western region by the Inspectorate Division
of the Ministry of Mines and Energy will provide the completion of a
comprehensive report to the Minister of Mines and Energy, Gesler Murray
about situational analysis of Artisanal Small-scale Mining operations across
the Country [Liberia]. The nationwide inspection tour of mining claims by
the Inspector-General, Arku, is done routinely every year with the aim of
enforcing revenue generation to enable government undertake national
development programs.

 

Mr. Arku did not speak to the actual duration of his work in the western
region, but indicated that the task will be carried out in accordance with
the timeline developed by the Inspectorate Division. Section 10.1 of the
Mineral and Mining Laws of Liberia prohibits mining activities from taking
place in protected areas including national parks, cemetery, traditional
shrines, among others. This means, the Hola Forest in Grand Cape Mount
County, a National Park, will be under IG Arku's inspection radar.

 

-FrontPageAfrica.

 

 

 

Uganda: MTN Re-Introduces MTN Webphone With Webex

MTN Uganda has announced the relaunch of MTN Webphone with Webex, an
innovative communication solution that enables MTN customers in the diaspora
to make calls back home at local calling rates.

 

This solution is being relaunched in partnership with Cisco, the global
leader in video conferencing and messaging solutions.

 

MTN Webphone with Webex is not just a calling application; it is a
comprehensive platform that enables users to enjoy a wide range of
communication tools, including chatting, conference calling and seamless
file sharing from any location around the world.

 

With this cutting-edge solution, MTN customers can keep their business
operations running smoothly, connect with friends and family in Uganda at
affordable local rates, and collaborate effortlessly with employees and
business partners worldwide.

 

 

Sylvia Mulinge, Chief Executive Officer of MTN Uganda, expressed her
enthusiasm about the new offering, stating, "MTN Webphone with Webex marks a
significant milestone in our journey towards MTN's Ambition 2025. We believe
everyone deserves the benefits of a modern connected life and this includes
not only providing connectivity but also doing so affordably. Our
partnership with Cisco allows us to deliver an unmatched communication
experience to our customers, empowering them to stay connected, productive,
and agile in today's digital age. We believe this innovative solution will
transform the way people communicate globally."

 

Ibrahim Senyonga, General Manager of MTN Enterprise Business Unit, added,
"MTN Webphone with Webex is a key addition to our Unified Communications
portfolio, that seeks to ensure that we deploy the full suite of voice
services, both mobile and fixed, particularly for the business community. We
believe that MTN Webphone with Webex is the answer to affordability and
convenience for Ugandans in the diaspora, traders and business travelers who
want to stay in touch with their contacts and family back home.

 

MTN Webphone with Webex is a testament to MTN's commitment to providing
industry-leading connectivity services and empowering businesses with
advanced tools to enhance productivity and growth.

 

To sign up for MTN Webphone with Webex, customers can visit any MTN Service
Center with a valid National ID and a working email address. The web phone
number, starting with '032,' will be assigned upon registration, enabling
users to make calls over the Internet using a smartphone, tablet or any
other internet enabled device.

 

 

 

Tanzania: PM Tasks Energy Ministry to Expand Fuel Stock Capacity

Dodoma — PRIME Minister Kassim Majaliwa has directed the Ministry of Energy
to ensure that the country has enough stock of fuel that can cater for needs
in between five and six months, instead of having a stock for only one month
to serve the public.

 

Mr Majaliwa issued the directive at Parliament grounds on Tuesday, when
officiating the Energy Week, which brought together all institutions under
the energy docket, ahead of the ministry's 2023/2024 budget tabling
scheduled for today in the august House.

 

According to the minister responsible for the docket, January Makamba, the
Energy Week was specifically held at Parliament grounds, so that lawmakers
who had several queries from institutions under the ministry could get
explanations from experts, who are showcasing several projects, their
progress and the implementation timeframe.

 

 

At the Energy Week which also continues today, the Prime Minister asked the
Energy Ministry through a fuel company, tipper, in which the government has
50 per cent stake in shares to ensure that there was no fuel deficit in the
country.

 

He insisted that it was high time the ministry ensured that the stock was
enough to serve the country for a period of not less than six months.

 

He equally directed the Energy and Water Utility Regulatory Authority
(EWURA) to make sure that the directive was fully implemented.

 

At a similar occasion, the Premier asked Tanzanians to move from cooking by
using charcoal and firewood and venture into adopting the use of clean
energy.

 

Already, Mr Majaliwa hinted, the government had formed the national
committee for coordinating massive education and awareness campaigns on the
importance of using clean energy for cooking.

 

According to him, the committee was doing a great job and that in the next
few days; the country will hold a great meeting with stakeholders to address
issues of using firewood and the importance of using clean cooking.

 

Available data shows that 63.5 per cent of the households in the country use
firewood as the main source and 26.2 per cent use charcoal for cooking.

 

Only a fraction of the population at 5.1 per cent use Liquefied Petroleum
Gas (LPG) as a source of cooking, while 3 per cent use electricity. The
figures show that 2.2 per cent use other sources of energy.

 

The use of firewood and charcoal for cooking is attributed to an array of
acute health problems including respiratory infections, chronic pulmonary
diseases, and perinatal and infant mortality.

 

The data also show that some 33,000 people die prematurely every year in
Tanzania from illnesses attributable to household air pollution. Women and
children are the vulnerable groups in this case.

 

Speaking at the occasion, Mr Makamba said that, he recently made a tour in
several areas of the country to promote sustainable energy use as well as
intensifying awareness campaign to Tanzanians on the importance of using LPG
and that he distributed LPG cylinders to rural masses.

 

He said the government under President Samia Suluhu Hassan provided 10bn/-
for the robust programme whereas 3bn/- was used to purchase 100,000 LPG
cylinders to be distributed to those in need.

 

Already, he added, his ministry had distributed the cylinders to majority of
MPs because they were among a group that has a great potential in creating
awareness to the community.

 

On Tuesday, the minister gave the PM the cylinders, so that he can be part
of influencers in his Ruangwa constituency.

 

-Daily News.

 

 

 

Diddy says Diageo neglected his tequila due to race

Rapper Sean Combs, known as Diddy, has accused drinks giant Diageo of
breaking the terms of their business partnership and neglecting the tequila
brand they bought together because he is black.

 

In a complaint filed in New York, he said the company invested in competing
brands, while depriving DeLeon Tequila the same level of support.

 

He also said Diageo limited the drinks' distribution to "urban"
neighbourhoods.

 

Diageo denied the allegations and said it would defend itself "vigorously".

 

"This is a business dispute, and we are saddened that Mr Combs has chosen to
recast this matter as anything other than that," a spokesman for the company
said in a statement.

 

"Our steadfast commitment to diversity within our company and the
communities we serve is something we take very seriously."

 

The lawsuit comes after years of partnership between UK-based Diageo and Mr
Combs, who rose to fame as a music executive and rapper in the 1990s before
branching out into acting and other business ventures.

 

Diageo, owner of brands such as Johnnie Walker, Guinness and Tanqueray,
approached him to help market the company's Ciroc vodka in 2007.

 

Together they bought DeLeon Tequila in 2013, but the complaint accused
Diageo of quickly falling short of its commitments for distribution,
investment and brand positioning.

 

Mr Combs' company, Combs Wines & Spirits, said there was a pattern of
"racial typecasting", pointing to disputes that Diageo has had with other
black business partners.

 

"This case is not an ordinary contract dispute in which a party chooses to
disregard its contractual promises due to greed and profit," the firm said
in the filing.

 

"Rather, and similar to the realities experienced by many people of colour
in the United States, Diageo's treatment of its business relationship with
Mr Combs was tainted by racial prejudices."

 

The lawsuit cites a 2019 conversation in which a Diageo executive allegedly
said Mr Combs's brands would be more widespread had he been "Martha
Stewart", among other decisions.

 

The DeLeon brand is also currently sold in less than 4% of possible outlets
compared with more than a third for Diageo's competing Casamigos and Don
Julio tequilas, the complaint said.

 

Despite being repeatedly confronted over the issues, Diageo failed to repair
the situation, Combs Wine & Spirits alleged.

 

It said Mr Combs intends to take separate legal action to request billions
of dollars in damages and has asked the court to order the firm to "provide
the equal treatment that it has contractually promised".

 

Diaego said it was "disappointed our efforts to resolve this business
dispute amicably have been ignored and that Mr. Combs has chosen to damage a
productive and valued partnership".

 

"For more than 15 years, we've had a productive and mutually beneficial
relationship with Mr. Combs on various business ventures, making significant
investments that have resulted in financial success for all involved," the
company said.

 

"While we respect Mr. Combs as an artist and entrepreneur, his allegations
lack merit, and we are confident the facts will show that he has been
treated fairly."

 

-bbc

 

 

Air New Zealand weighing passengers before flying

Air New Zealand is weighing passengers before they board international
flights, as part of a survey to determine average passenger weight.

 

The weight will be anonymously recorded in a database but not be visible to
airline staff or other passengers, the firm said.

 

Air New Zealand said knowing average passenger weight would improve fuel
efficiency in the future.

 

Participation in the survey is voluntary, the airline added.

 

The airline previously weighed domestic passengers in New Zealand in 2021.

 

"Now that international travel is back up and running, it's time for
international flyers to weigh in," the airline said in a press statement.

 

Before the pandemic, the airline flew more than 17 million passengers every
year, with 3,400 flights per week.

 

UK airport scraps 100ml liquid rule with scanners

Knowing the weight of everything that goes on its aircraft is a "regulatory
requirement", airline spokesman Alastair James explained in a video.

 

"We know stepping on the scales can be daunting. We want to reassure our
customers there is no visible display anywhere," Mr James said. "By weighing
in, you'll be helping us fly safely and efficiently every time."

 

Air New Zealand will be asking more than 10,000 customers travelling on its
international network to take part in the survey.

 

Passengers will be weighed at the gates of certain flights departing from
Auckland International Airport between 29 May and 2 July.

 

The airline said that everything that goes on its aircraft - from cargo and
onboard meals to luggage in the hold - is weighed, and that for customers,
crew and cabin bags it used average weights based on survey data.

 

Air New Zealand is the national carrier of the country and has 104 operating
aircraft.-bbc

 

 

 

Elon Musk: Tesla boss on first China trip in over three years

Tesla chief executive Elon Musk is in China, as he makes his first trip to
the world's second largest economy in over three years.

 

He arrived in Beijing on Tuesday and is also expected to visit Tesla's huge
manufacturing plant in Shanghai.

 

The multi-billionaire met China's foreign minister Qin Gang within hours of
arriving in the country.

 

Mr Musk has not yet publicly commented on the trip, which comes amid
tensions between the US and China.

 

He also declined to make any comments about his plans for the trip when
asked by reporters as he left a hotel in Beijing on Wednesday.

 

Later on Wednesday, Mr Musk met China's industry minister Jin Zhuanglong and
discussed the development of electric vehicles.

 

In a statement on Tuesday, China's foreign ministry said that Mr Musk was
willing to expand the car maker's business in the country, which is Tesla's
biggest market after the US.

 

The ministry added that during the meeting Mr Musk had described the
economies of the US and China as "conjoined twins".

 

Tesla did not immediately respond to a BBC request for comment.

 

Mr Musk has also been uncharacteristically quiet on Twitter, which he owns
and where he has more than 141 million followers.

 

He is known for tweeting many times a day but as of midday on Wednesday had
not posted anything since arriving in the country on Tuesday afternoon.

 

The social media platform is banned in China but it can be accessed through
VPNs, or Virtual Private Networks.

 

Mr Musk is the latest high-profile US executive to make a trip to China. JP
Morgan chief executive Jamie Dimon is also in China this week, while Apple
boss Tim Cook visited the country in March.

 

However, as tensions rise between Washington and Beijing Tesla finds itself
in a difficult position, Dan Ives from investment firm Wedbush Securities
said.

 

"Playing nice in the sandbox in Beijing is something Wall Street is laser
focused on, to make sure there are no disruptions to Tesla's expansion
within China for the coming years," Mr Ives added.

 

In January 2019, Tesla started building its so-called gigafactory in
Shanghai, which was the firm's first manufacturing plant outside the US.

 

Later that year, it delivered its first Chinese-made cars, marking a major
milestone for the American company.

 

However, Covid lockdowns across the country, including in the financial,
manufacturing and shipping hub of Shanghai, made it increasingly difficult
for manufacturers to operate.

 

Last year, Mr Musk said the coronavirus lockdown of Shanghai was "very, very
difficult" for Tesla, which reportedly halted most of its production at its
gigafactory for several weeks.

 

Operations have since resumed at the plant, which produced its millionth car
in August, according to Mr Musk. This accounted for a third of Tesla's
global production.

 

Last month, the company said it planned to build a new factory in China to
make its large-scale "Megapack" batteries.

 

China has also become the largest market for Tesla's Model Y mass-market
electric vehicle, according to market research firm JATO.

 

More than 94,000 Model Y vehicles were sold in China in the first three
months of this year, putting it ahead of the US and Europe, JATO data shows.

 

In recent years, Tesla's lead in electric vehicle market has been challenged
by increased competition from car making giants, including Ford and General
Motors, as well as newer entrants into the market like China's BYD and Nio.

 

Mr Musk - who bought Twitter last year for $44bn (£35.5bn) - has been under
pressure to find someone else to lead the company and refocus his attention
on his other businesses, including Tesla and rocket firm SpaceX.

 

Earlier this month, he named Linda Yaccarino, the former head of advertising
at NBCUniversal as the platform's new chief executive.

 

Ms Yaccarino will face the challenge of running a business that has
struggled to be profitable, while facing intense scrutiny over how it
handles misinformation and hate speech.

 

Twitter is now worth around a third of what Mr Musk paid for it, according
to financial services firm Fidelity Investments, which helped to finance his
takeover of the company.-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 

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Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

Heroes’ Day

 

Aug 14

 


 

Defence Forces Day

 

Aug 15

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


CBZH

GetBucks

EcoCash

 


TSL

Econet

Turnall

 


First Capital Bank

ZBFH

Fidelity

 


Zimplow

FMHL

 

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


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

 


 

 


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

 


 

 

 

 

 

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