Major International Business Headlines Brief::: 28 June 2023

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Major International Business Headlines Brief::: 28 June 2023 

 


 

 


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

 


 

 


 

ü  Namibia: Namport Concerned About Businesses Operating in Silos

ü  Africa: UBA Partners AfCFTA to Invest U.S.$6 Billionto Finance SMEs in
Africa

ü  Ghana: MANSA , PAPSS Digital Platforms to Facilitate Trade, Boost
Economic Development - Mr Gabriel Edgal

ü  Ghana: Businesses Urged to Take Advantage of Govt Policies On AfCFTA

ü  Ghana: Asafo Sewage System to Be Expanded to Cover 500 Households, 29
Institutions

ü  South Africa: Labour Hosts Career Expo for Eastern Cape Youth

ü  South Africa: Youth Encouraged to Get Involved in Water, Sanitation
Sector

ü  Kenya: President Ruto Orders Reduction of Boda-Boda Training, Licensing
Fees

ü  South Africa: Free State Municipality's R15-Million Unused Sport Stadium

ü  Liberia: Illegal Mining, Limited Logistics Threaten Conservation At Sapo
National Park

ü  Apple joins opposition to encrypted message app scanning

ü  Drinks giant Diageo ends 'broken' Diddy partnership

ü  UK to work more closely with EU on financial services

ü  Meta: Facebook owner launches $7.99 a month virtual reality service

 


 

 


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

The

Namibia: Namport Concerned About Businesses Operating in Silos

Namibian Ports Authority CEO Andrew Kanime shared his concern about the lack
of collaboration between the industry and regulatory bodies as well as the
lack of necessary infrastructure to help Namibia become the logistics hub it
wants to be.

 

Namport is a state-owned enterprise, established as the national ports
authority of Namibia, managing principally the ports of Walvis Bay and
Lüderitz.

 

"We are significantly dependent upon the collaboration of especially
legislative authorities and regulatory bodies for us to ensure we attract
cargo to the two ports. One of the key issues that we see at the moment is
that there are perhaps certain legislations that are enacted or introduced
without necessarily consulting the industry; some of these legislations have
become a hindrance or a bottleneck in terms of us enabling us to maybe
expand on this production base," Kanime yesterday said during the first-ever
State of Business Address (SoBA), organised by the Namibia Chamber of
Commerce and Industry (NCCI).

 

 

Kanime added it is of no help working in silos, as there are attractive
solutions that can be put in place to ensure a win-win solution.

 

Rail infrastructure

 

Furthermore, the CEO stated there is a need to accelerate the investment in
the rail infrastructure to ensure that the capacity at the ports can be
optimally utilised to service not only Namibia but also the rest of the
region.

 

He said the ports play a critical role in the domestic economy, especially
in terms of linking not only Namibia but the region to the rest of the
international market economic hubs and global economic centres.

 

"But for us to be able to optimally utilise that capacity, there is a need
for us to ensure that transportation infrastructure is in place. But on the
rail side, we are unfortunately not connected, especially to our key markets
of Botswana and Zambia - and you know that especially we play a critical
role in terms of re-exporting some of the key minerals that originate from
these markets," said the concerned CEO.

 

Kanime insisted that the absence of a real connection between these two
countries will significantly contribute to the cost of moving cargo through
Namibia.

 

TransNamib this year revealed that the state of the country's railway
infrastructure hampers operations, resulting in bottlenecks.

 

TransNamib spokesperson Abigail Raubenheimer added the national rail service
operator faces the dual challenge of ageing and deteriorating railway
infrastructure and outdated rolling stock.

 

The company, therefore, needs a whopping N$30 billion investment, which is
almost half the national budget.

 

"As the owner of the rail infrastructure, the government will need to at
least invest N$30 billion into the infrastructure to get it on par with the
Southern African Development Community requirements," she stated at the
time.

 

Namport finance

 

According to the Namport 2022 integrated annual report, Namport's revenue
increased by 10.94% to N$1.234 billion from N$1.112 billion in 2021 and
generated an operating profit of N$374 million (2021: N$121 million).

 

Total cargo handled for the year under review increased by 6% to 6 567 370
tonnes.

 

General cargo and overall container volumes reflected modest increases of 9%
and 8%, respectively.

 

The increase in general cargo was due to increased commodities imports,
containerised volumes and the continued flow of goods to and from the
hinterland.

 

-New Era.

 

 

 

Africa: UBA Partners AfCFTA to Invest U.S.$6 Billionto Finance SMEs in
Africa

United Bank for Africa (UBA) Plc has signed an agreement with the Africa
Continental Free Trade Area (AfCFTA) Secretariat to invest $6 billion as
funding for African Small and Medium Enterprises (SMEs) within the next
three years.

 

A breakdown of the $6bn investment shows that a total of $1.2bn has been
budgeted for the year 2023; $1.9bn for 2024, and $2.88bn for 2025.

 

UBA signed the agreement with AfCFTA on the sidelines of the opening
ceremony of the 30th Afreximbank annual meeting held in Accra.

 

By this agreement, UBA, with the aim of boosting intra-African trade, will
provide financial services in four main areas, including agro-processing,
automotive, pharmaceuticals, and transport and logistics, to small and
medium enterprises (SMEs) in all the 20 African countries where UBA
operates.

 

 

These countries are Nigeria, Benin, Ghana, Sierra Leone, Liberia, Cote
D'Ivoire, Senegal, Mali, Burkina Faso, Guinea, Zambia, Tanzania, Kenya,
Uganda, Mozambique, Gabon, Congo Brazzaville, Congo DRC, Chad, and Cameroon.

 

One of the key initiatives of the AfCFTA agreement focuses on improving
access to finance and markets for SMEs to encourage their growth and
contribution to the socio-economic development of Africa.

 

UBA Group's Deputy Managing Director, Muyiwa Akinyemi, who signed the
agreement on behalf of the UBA Group, noted that as Africa's global bank,
UBA was committed to supporting SMEs in Africa, especially given its robust
network, which is spread across the 20 countries.

 

He said, "We entered into this partnership because we see the future of
intra-African payments developed by AfCFTA, which will ease payment
constraints across 54 countries in Africa (with about 40 different
currencies) powered by the Pan-African Payment and Settlement System
(PAPSS)."

 

Mr Akinyemi said, "However, we need to develop these businesses before we
can talk about helping them trade, which is the strength of UBA, as we are
vital in supporting SMEs, and with our presence in 20 African countries, we
say your small business is big business."

 

On his part, the Secretary-General of the AfCFTA Secretariat, Mr Wamkele
Mene, who spoke on the agreement with UBA, emphasised the need to catalyse
Africa's industrialisation and boost intra-African trade to improve the
socio-economic wellbeing of the continent and its people, which he noted was
a key factor behind the partnership.

 

Mr Mene said, "The Secretariat is committed to supporting SMEs as critical
drivers of African economies. We recognise the financing gap SMEs face on
the continent and intend to mitigate this gap through this important
partnership. The four identified areas of support which UBA will provide
will enable SMEs to achieve industrial-driven growth and export development
in Africa, which in turn aligns with the objectives of the AfCFTA."

 

-Ghanaian Times.

 

 

 

Ghana: MANSA , PAPSS Digital Platforms to Facilitate Trade, Boost Economic
Development - Mr Gabriel Edgal

The Chairman and CEO of Oakwood Green Africa, Mr Gabriel Edgal, has
emphasised the transformative impact of Afreximbank's digital platforms,
including the MANSA and Pan-Africa Payment and Settlement System (PAPSS)
platforms, on Ghana's economic development and participation in
intra-African trade.

 

Speaking at a side event during the launch of the Africa Trade Gateway as
part of Afreximbank's Annual Meetings 2023 (AAM2023) held in Accra, Mr Edgal
highlighted the significance of these platforms in unlocking Africa's trade
potential.

 

Mr Edgal stressed the convenience and benefits of the MANSA platform, which
serves as a single source of primary data for Customer Due Diligence (CDD)
and Know Your Customer (KYC) checks on African entities, including financial
institutions, corporates, and SMEs.

 

 

He said by leveraging MANSA, businesses onboarded unto the platform could
conveniently trade with their African customers, suppliers, and partners
without the need for additional due diligence.

 

This streamlined process, he said, would provide a significant boost to
businesses and greatly contribute to the economy by eliminating
long-standing bottlenecks that have hindered intra-Africa trade.

 

"The MANSA Platform for instance will give a boost to businesses and help
the economy significantly, as some bottlenecks that have bedeviled
intra-Africa trade for so long will be eliminated with these platforms," he
said.

 

Mr Edgal said, "We need to start asking ourselves questions as Africans,
such as; 'How is it that trade with my neighbour just across the border has
to be so painstakingly difficult?'...'Why can I not benefit from the large
markets for my products that Africa provides?'...'Why is my focus only on
international trade, imports that leave us as consuming nations instead of
producing nations? It is time to think about Africa and trade among
ourselves."

 

On PAPSS, Mr Edgal spoke about the importance of the platform, and what it
would likely mean for Ghana's development.

 

"Through initiatives such as PAPSS, businesses in Ghana, for instance, can
trade with their counterparts anywhere in Africa without having to convert
their local currencies to dollar. If payments are being made in local
currencies, it means demand for foreign currency will reduce, and once the
demand for the dollar reduces, it means exchange rates will drop and the
African currencies will be strengthened," he said.

 

He noted, "It means importation of our inputs will now be cheaper, it means
imported inflation will not be possible, as the local currencies will be
more resilient due to increased demand as a result of local currency
trading. Imagine the effect on our economies."

 

The event witnessed the presence of key players within Ghana's business
sector and other West African countries.

 

-Ghanaian Times.

 

 

 

 

Ghana: Businesses Urged to Take Advantage of Govt Policies On AfCFTA

Businesses in the country have been urged to take advantage of government
policies on the African Continental Free Trade Area (AfCFTA) to enhance
growth and ensure Ghana benefits from the agreement.

 

Mr David Ofosu-Dorte, Executive Chairman of AB and David Law Firm, who gave
the advice, said Ghana could only benefit from the agreement if the private
sector work at aligning business operations with the policies aimed at
promoting AfCFTA.

 

Speaking at the celebration of this year's United Nations/African Union
(UN/AU) Public Service Day on Friday in Accra, he noted that Ghana stands to
grow its economy and realise other benefits from the AfCFTA if the private
sector takes advantage of the policies.

 

 

The event was on the theme: 'Building an (AfCFTA)-Ready Public Sector.'

 

In addition to the National AfCFTA policy framework and action plan, he said
the government had introduced policies including the One District, One
Factory (1D1F), National Export Development Strategy and establishment of
industrial parks to enable businesses thrive.

 

He urged the government to undertake frequency of engagement with the
private sector on strategies being adopted to enhance investments and create
conducive environment for businesses.

 

To drive Ghana's AfCFTA plan and realise intended benefits, Mr Ofosu-Dorte
called on government to partner the private sector to intensify publicity on
Ghanaian exclusive products.

 

Citing kente and shito as examples, he noted that such unique and exclusive
products could give Ghana the needed advantage in exporting most of its
produce to other African countries.

 

He said the public sector should take the lead in ensuring that criteria for
the promotion of AfCFTA were available and accessible to avoid operational
stampedes for businesses.

 

"We should create publicity on exclusive Ghanaian products as one of our key
strategies to maximise benefits from the AfCFTA. Some products such as
shito, kelewele and kente are exclusive to Ghana and we must take advantage
of it uniqueness to sell Ghanaian product.

 

The public sector must exist for the public to ensure stability and safety
and the promotion of AfCFTA. The more the private sector thrives, the more
the public sector will be recognised," Mr Ofosu-Dorte added.

 

He called on political actors to work consciously towards making Ghanaian
businesses globally competitive by providing incentives and guiding their
operations.

 

Mr Ofosu-Dorte reiterated the need for more private sector focused data
which includes information on consumer behaviour that would inform
businesses investments decisions by businesses.

 

Chairman of the Public Services Commission, Prof. Victor Agyeman, urged
public sector to ensure professionalism and integrity to create conducive
environment for the private sector to thrive.

 

-Ghanaian Times.

 

 

 

 

Ghana: Asafo Sewage System to Be Expanded to Cover 500 Households, 29
Institutions

The Asafo sewage system is to be expanded to cover 500 households and 29
institutions.

 

Constructed in 1994, the scheme covers an area of 45 hectares with about 320
dwellings, housing about 4,000 households, making up about 20,000 people.

 

Presently, the sewage system allows 35 households and 14 institutions,
including Kumasi Technical University.

 

The development followed government's efforts in securing a World Bank
funding for the rehabilitation and expansion of the treatment centre, which
has an aquaculture attached, to create business ventures for the community.

 

 

Other institutions that would be added to the expansion project would
include Kumasi Central Prisons and toilets only from the Komfo Anokye
Teaching Hospital (KATH).

 

The project is expected to be completed in two years.

 

Ms Cecilia Abena Dapaah, Minister for Sanitation and Water Resources,
disclosed these during her second day of a working tour to monitor progress
of work in some parts of the Ashanti Region at the weekend.

 

According to the Minister, the cost of the original project was $35 million,
"but we have realised that the horizon of design and the vision to achieve
has called for a negotiation for more funds, and so we are still
negotiating."

 

She pointed out that charges would be effected to generate income to
maintain the project as "government should not be the one to always fund and
maintain projects," and stressed "it should be self financed".

 

As part of the tour, the Minister visited the Oti Landfill, where
re-engineering of the site was seriously ongoing.

 

She was excited that the treatment centre would soon turn the place into a
tourist site as different species of birds have taken hold of the site as
their home.

 

"Government is going to plant about 10,000 tree species here to make the
place eco-friendly," she mentioned.

 

She said government was determined to improve the health of the citizenry by
way of enhancing sanitation projects and would not relent on that.

 

-Ghanaian Times.

 

 

 

South Africa: Labour Hosts Career Expo for Eastern Cape Youth

As part of the District Development Model, the Department of Employment and
Labour is today hosting a Youth Day Career Expo aimed at assisting work
seekers to access available opportunities in the labour market.

 

The expo which will take place at the Bhongweni Sports Field (eNtenteni),
Fort Grey, near King Phalo Airport in the Eastern Cape, is being hosted by
Employment and Labour Deputy Minister Boitumelo Moloi.

 

The event is being held in partnership with the Gompo Traditional Council,
Office of the Premier, Buffalo City Metro and Kidd's Beach Constituency
Office.

 

 

Career expos are part of the department's ongoing efforts to contribute
towards reducing unemployment by creating favourable platforms that allow
the youth and work-seekers an opportunity to expand their networks.

 

This includes gaining valuable insight about different career opportunities,
including learnerships, Internships, apprenticeships, bursaries and
entrepreneurship.

 

Job seekers attending the expo are advised to bring their ID's and CV's to
register on the department's Employment Services of South Africa (ESSA)
database.

 

The system creates a platform where work seekers are best matched with
available job opportunities for placement free of charge.

 

The Public Employment Services (PES) Employment Centre will be made
available by the department to offer all PES services.

 

Different Institutions of higher learning and training, universities and
vocational education and training (TVET) colleges, funding institutions,
sector education and training authorities (SETAs) will be in attendance to
impart information and knowledge that would assist the youth to broaden
their horizons and consider other available opportunities.

 

The next career exhibition will be held at the Tsolo Junction Hall, Mhlontlo
Local Municipality on Wednesday, 28 June 2023.

 

-SAnews.gov.za.

 

 

 

South Africa: Youth Encouraged to Get Involved in Water, Sanitation Sector

Water and Sanitation Minister, Senzo Mchunu, has implored South African
youth to contribute innovative ideas in the water and sanitation sector.

 

Mchunu was speaking on the first day of the week-long annual National Youth
Indaba underway at Inkosi Albert Luthuli International Convention Centre
(ICC) in eThekwini.

 

Joined by his deputies, Judith Tshabalala and David Mahlobo; eThekwini
Executive Mayor Mxolisi Kaunda, and Umgeni Water Acting CEO, Dr Sipho
Manana, Mchunu challenged participants at the indaba to have meaningful
engagements so that they can make meaningful contributions to the water and
sanitation sector.

 

 

"My plea to you is to not only be empowered but to have an outcome that will
impact the water sector at the end of this indaba. It is my wish that after
all the commissions and the discussions taking place here, you will emerge
better positioned to be able to work with us as the Department of Water and
Sanitation to achieve our objectives," Mchunu said.

 

Tshabalala reiterated the Minister's sentiments that the outcomes of this
year's Youth Indaba should give the youth a broader understanding of the
government's objectives and how they affect them.

 

She said the department aims to educate youth about their vital role within
the water and sanitation sector because they firmly believe that by actively
involving young people in the planning and execution of sector activities,
"we can enhance service delivery to our communities and pave the way to a
sustainable future".

 

 

"Therefore, this indaba should provide you with a platform for discussions,
constructive idea generation that will address the challenges facing the
youth in the sector, and empowering them to take on leadership roles,"
Tshabalala said.

 

The Youth Indaba, which takes place from 26 to 30 June 2023, brings young
water and sanitation professionals, including school learners, employed and
unemployed youth, and self-employed youth under one roof to highlight the
impact of the water crisis and to find solutions to achieve Sustainable
Development Goal (SDGs) 6, which aims to ensure availability of, and
sustainable management of water and sanitation for all.

 

Held under the theme, 'Accelerating Youth Economic Emancipation for a
Sustainable Future', the Youth Indaba is part of the department's Youth
Month commemoration, and aims to highlight the available opportunities for
youth development, and to educate the youth about their role within the
water and sanitation sector.

 

It also seeks to encourage engagements, technical expertise and knowledge
sharing among youth in the sector, with a view of improving institutional
governance, job creation, skills development, economic development, social
cohesion and, ultimately, the youth contribution to service delivery in
their communities.

 

Throughout the week-long programme, the young professionals will engage in
interactive sessions and knowledge sharing in their respective fields. They
will also embark on an excursion to deepen their understanding and to also
provide them with practical experiences.

 

The department said this year's Youth Indaba is an integral part of the
department's ongoing efforts to implement the recommendations of the 2022
National Youth Indaba Conference, which resulted in the drafting and
approval of an action plan document.

 

The event also serves as an opportunity to launch the South African Young
Water Professionals Network, a sector-wide youth forum that will make a
contribution to the water and sanitation challenges of the country.

 

-SAnews.gov.za.

 

 

 

Kenya: President Ruto Orders Reduction of Boda-Boda Training, Licensing Fees

Nairobi — President Ruto has issued a directive to reduce the training and
licensing requirements for boda-boda operators from the current Sh11,050 to
Sh2,500.

 

The decision, the President said aims to improve competency within the
sector and reduce the high number of road accidents associated with boda
bodas.

 

He emphasized that the increasing cases of road accidents are primarily due
to the lack of proper training among boda-boda operators.

 

"I urge the Ministry of Transport to coordinate with the counties to lower
the training requirements to reduce accidents," stated the President.

 

Additionally, the boda boda sector will receive first aid and emergency
medical care training from the St. John Ambulance Services.

 

This training initiative will collaborate with the National Youth Service,
the Ministry of Roads, and the National Transport and Safety Authority.

 

The President made the remarks on Monday during the launch of the "Boda Boda
Care" empowerment program at the KICC.

 

As part of this program, the boda-boda sector will receive one year of free
medical insurance coverage.

 

President Ruto announced that his administration is actively working towards
formalizing the sector responsible for creating 1.5 million jobs and
generating an annual revenue of Sh300 billion.

 

In addition to organizing these individuals into Savings and Credit
Cooperatives (SACCOs), he emphasized that this initiative will encompass
ongoing training programs and the establishment of a comprehensive database
to keep track of operators' information.

 

"We will work with all stakeholders to ensure the training and licensing of
Boda Boda riders does not exceed Sh2500," he said.

 

-Capital FM.

 

 

 

South Africa: Free State Municipality's R15-Million Unused Sport Stadium

The stadium in Lindley has stood for over a year and has been vandalised

 

Nketoane Local Municipality in Free State paid contractors nearly
R15-million for a sports facility in Ntha, Lindley, that stands unused.

The facility is unfinished and was left to be vandalised.

Local sports teams say they are desperate for facilities and cannot make
professional progress without it.

Nketoane Local Municipality in the Free State paid contractors nearly
R15-million for a sports facility in Ntha, Lindley. But the stadium is a
lifeless shell - vandalised, unmaintained, incomplete and unused. In the
opinion of one councillor, what has been built so far does not come close to
what has been spent.

 

 

Currently, the local footballers and netball players play on open ground,
while the stadium stands unused.

 

Invoices show that Nketoane Local Municipality was billed over R11-million
by Coxinell IPP (PTY) Ltd, the main contractor between 2019 and 2021.

 

The municipality was also billed by Melokuhle Management for about
R1.9-million; Mmileng-Wa Trading and Projects for over R800,000; Zanyan
Projects for about R675,000; and in July 2022, by Monoceros Electrical for
R460,000 for the installation of flood lighting.

 

Two flood lights were erected, but have never worked, while the other two
are still lying on the ground. Soccer posts also appeared to have been
abandoned on site. The pitch is in poor condition and the grass has not been
mowed.

 

A proper pitch surface was never planted and no irrigation system installed.

 

There is no sign of an athletic track although that was meant to be included
in the project, according to a source in the municipality. There was also
meant to be a tennis court and there are invoices for its resurfacing.

 

The stadium has been badly vandalised. The doors of the toilets and dressing
rooms have been removed. There are no taps visible and they may have never
been installed. Windows are broken. Water pipes and a bath have been stolen.
The perimeter fence is damaged.

 

People living nearby say the municipality only deployed security personnel
after they complained the stadium was being ruined by vandals.

 

According to a municipal infrastructure grant (MIG) implementation plan,
approved by the Department of Cooperative Governance and Traditional Affairs
(CoGTA), the project went to tender for R15.4-million and started in June
2019. It was meant to be completed by the end of July 2020. The completion
date was revised to end of February 2022.

 

 

A source in the municipality told us: "I suspect someone has benefited from
this because we don't understand why such a huge amount of money was paid
while the stadium was not completed.

 

"Again, the councillors are well aware of this but until today they haven't
said anything about it.

 

"In our records (MIG report) it was stated that the stadium is complete and
the provincial government also got the same report that says there is a
complete stadium on that side."

 

Tshepo Mokoena, chairperson of the sports council at Lindley, said they want
the municipality to come explain to the community what is happening with the
stadium.

 

"We have been waiting for years to get the stadium and we are disappointed
that our patience has yielded such a poor facility. The football field is
nothing close to a normal pitch," he said. "Other teams don't want to come
and play at the open ground and we have lost two SAB League soccer
franchises because we don't have a stadium."

 

Mamokete Motaung, a player with the Ntha Cheaters Netball Club, said they
need the stadium with all their hearts because they have been playing on
open fields for so long.

 

"We were happy when we saw the contractor on the site and we thought soon we
would have a proper netball court. We are now forced to play the local clubs
or travel to play games, because most of the teams refuse to come to us
because they say it is not safe to play on open fields.

 

"We wish the municipality would resolve the stadium issue so that we can
have access," she said.

 

Councillor Diphapang Mofokeng (DA) said the DA requested the paperwork for
the stadium six-months ago but has received nothing. He said the matter has
now been handed over to a legal team.

 

He said R15-million was apparently spent "but what is on the ground is not
even close to that amount".

 

"The stadium is now a hiding place for criminals and what hurts the most is
that our athletes don't have sports facilities, yet taxpayer money is being
dished out," he said.

 

Meanwhile, Tiisetso Mokoena, who plays with the local football association,
said, "We are hurting ... We find it very hard to play in the open field
especially when it has rained. Many games had to be postponed because of the
muddy and slippery ground. We wish the municipality would treat the stadium
issue as a matter of urgency."

 

Mshiyeni Mazibuko, sole member of Melokuhle Management CC, the consultancy
responsible for the project, refused to respond to our questions, saying he
may not disclose information to third parties and directed us to the
municipality.

 

Coxinell sole director Mokwale Job Mamaganyane initially took our call but
has since gone to ground and not responded.

 

The municipal manager, Mokete Nhlapo, has also evaded our questions for well
over a week.

 

Mmileng-Wa Trading referred out queries back to the municipality.

 

We were unable to reach Zanyan Projects.

 

Mokone Mofokeng, the owner of Monoceros Electrical, confirmed that the work
was not completed. He said the main contractor had damaged the cement for
the pole and it had to be redone. He said the materials, such as the
floodlight bulbs, were still in his possession. He said he stopped because
the stadium was being vandalised.

 

Mofokeng said he received an e-mail last week from the municipality telling
him that there is now security and he can finish the work.

 

"I will be going back to finish the work from Wednesday," he said.

 

-GroundUp.

 

 

 

Liberia: Illegal Mining, Limited Logistics Threaten Conservation At Sapo
National Park

Wacaba District — Sapo National Park, Liberia's largest protected area, is
one of the most biologically rich and endangered terrestrial eco regions in
the world. It is home to many rare and endangered species, including the
West African chimpanzee, pygmy hippopotamus, and African forest elephant.

 

Located in the southeastern region, the Sapo National Park is Liberia's
oldest protected area established in 1983, covering 1,804 km2. It is managed
by the Forestry Development Authority (FDA) of Liberia and is exceptionally
biodiverse and provides refuge to many rare and endemic species.

 

Sadly, the Sapo National Park is under threat from human activities
including illegal hunting and artisanal gold mining; hence the need to
effectively manage this area cannot be overemphasized.

 

 

There are approximately 5,000 illegal miners in several parts of the park
comprising citizens from Ghana, Sierra Leone, Nigeria, and Ivory Coast, as
well as Liberians from Nimba, Maryland, Grand Gedeh, Grand Bassa, River Gee,
Rivercess, and Sinoe Counties, who live within the Park.

 

There are reportedly over 50 illegal mining sites in the Sapo national Park
at different locations. These illegal miners named their respective mining
sites after wealthy and powerful countries and places including America,
Dubai, China, and Philadelphia, among others. These names indicate the
lifestyle of the people who have settled in the middle of the forest to seek
greener pastures.

 

However, following negotiations with the government of Liberia through the
FDA along with the traditional leaders of the surrounding towns and
villages, over 3,000 illegal occupants were removed from the park on May 2,
2023.

 

 

Samuel Toweh, an illegal miner in the Park who hails from Nimba disclosed
that the lack of employment opportunities prompted him to join his
colleagues in search of a livelihood at the park.

 

Toweh acknowledged that the park is a protected area, but said it is only
the government that is benefiting from the area's resources and not the
communities and their inhabitants around the Park.

 

"The government is benefiting and not the citizens. So, that is the reason
we entered the park to benefit, but with jobs, we will not go in the park,"
Toweh said.

 

The forest dependents want the FDA and partners to institute measures to
provide livelihood development programs for them.

 

Stanley Smith, a resident of Korjayee-1 and former head at one of the
illegal mining sites, welcomed the move by the FDA through the traditional
leaders to remove illegal miners at the Sapo National Park, but blamed the
FDA for the continuous illegal mining activities in the area.

 

 

He said after the Park was raided in 2017 by authorities to clear it of
illegal miners and unwanted inhabitants, two persons each from the
surrounding communities were recruited and trained to work closely with the
FDA to protect the Park.

 

But three years later, those recruited by the FDA were declared redundant
and replaced with non-residents, which, according to him, created mixed
feelings among the residents of the Park area leaving them with no
alternative but to re-enter the Park to sustain themselves.

 

He said if the government of Liberia through the FDA refused to work with
residents of the surrounding towns, illegal mining will continue to "be the
order of the day."

 

"When these entry points are well protected, nobody will go into the park;
but if not, people from surrounding communities will continue to invade the
protected area because the promises made to them by the government are not
forthcoming," Smith added.

 

Steven Wiayan, Clan Chief of Korjayee buttressed Smith. He said despite
their involvement in helping to remove illegal miners from the Park, the
government has not been helping their towns.

 

Chief Weon named safe drinking water, schools, and health facilities as some
of the amenities lacking in their communities. He wants the government and
its partners to introduce vocational schools, and agriculture activities to
help empower residents of the area, or else they will return to the forest.

 

"We give the Park to them long ago, since 1983 and nothing has been done.
So, they must change their mind to bring development in this area, to bring
development around the park and to empower our children to get work so we
can put hands together and mind this Park," Chief Wiayan said.

 

Mining is not only the illegal activities going on in the Sapo National
Park. The illicit artisanal mining activities have attracted several people,
mostly women who are engage in all sort of business including food,
beverages gasoline and narcotic substances.

 

"I am stranded. I don't have five dollars. That's what making me to go there
to sell my little market to get something to help my children to go to
school, said Winnie Wolo, a mother of three.

 

Ms. Wolo said she is stranded and does not have money to send her children
to school. She wants the government to introduce loans for women to be
empowered.

 

FDA launches effort

 

Communities play a major role in protecting the forest. This was recognized
by the government when it passed the Community Rights Law of 2009, giving
the community residents the right to manage portion of the forest.

 

The FDA through its Park Warden at the Sapo National Park, Burton Kawa
acknowledged the efforts by surrounding communities in protecting its
forest. He lauded the efforts of the traditional leaders to aid the
government in evicting the over 3,000 illegal miners from the park. Kawa
said the government of Liberia through FDA will continue to seek the
involvement of communities to protect the forest from illegal mining which
speaks against conservation.

 

However, he said the lack of logistics is impending him and his men from
effectively monitoring.

 

Currently, at the Park, there is only one Toyota pickup for operations.
However, Mr. Kawa noted that with more logistics and more manpower, the
institution's monitoring arm will be strengthened.

 

He revealed that on several occasions, the few park rangers have met stiff
resistance from illegal miners who are often seen with firearms.

 

"Around West Africa, this is the only park that her rangers are not armed,
but my men can manage sometimes to arrest people with arms, so that's one of
the constraints," he said.

 

"We have only one petty car... and all the motorbikes are down... you see us
sitting down, we don't want to sit down but no motorbikes to go around and
engage the communities," Mr. Kawa added.

 

'We are not aware'

 

On the issue of the illegal mining activities, the Assistant Director of
Mines at the Ministry of Mines and Energy Ben S. Yoejaeh said the Ministry
is not aware of any report about illegal mining at the Sapo National Park.

 

Yoejaeh said the Ministry has not given permit to any individual to extract
minerals from the area as it is a protected area that exempted from mining
activities.

 

"We are not aware of any mining at the Park. If we were, we would have
intervened as we have been doing to other places" Yoejaeh said.

 

He said despite limited logistics, the Ministry continues to ensure that
mining done in the country is in line with the mining law.

 

-FrontPageAfrica.

 

 

 

Apple joins opposition to encrypted message app scanning

Apple has criticised powers in the Online Safety Bill that could be used to
force encrypted messaging tools like iMessage, WhatsApp and Signal to scan
messages for child abuse material.

 

Its intervention comes as 80 organisations and tech experts have written to
Technology Minister Chloe Smith urging a rethink on the powers.

 

Apple told the BBC the bill should be amended to protect encryption.

 

The government says companies must prevent child abuse on their platforms.

 

End-to-end encryption (E2EE) stops anyone but the sender and recipient
reading the message.

 

Police, the government and some high-profile child protection charities
maintain the tech - used in apps such as WhatsApp and Apple's iMessage -
prevents law enforcement and the firms themselves from identifying the
sharing of child sexual abuse material.

 

But in a statement Apple said: "End-to-end encryption is a critical
capability that protects the privacy of journalists, human rights activists,
and diplomats.

 

"It also helps everyday citizens defend themselves from surveillance,
identity theft, fraud, and data breaches. The Online Safety Bill poses a
serious threat to this protection, and could put UK citizens at greater
risk.

 

"Apple urges the government to amend the bill to protect strong end-to-end
encryption for the benefit of all."

 

But the government told the BBC that "companies should only implement
end-to-end encryption if they can simultaneously prevent abhorrent child
sexual abuse on their platforms.

 

"We will continue to work with them to seek solutions to combat the spread
of child sexual abuse material while maintaining user privacy."

 

The Online Safety Bill, currently going through Parliament, contains powers
that could enable communications regulator Ofcom to direct platforms to use
accredited technology to scan the contents of messages.

 

The government said these powers would only be used as "a last resort, and
only when stringent privacy safeguards have been met".

 

Recently Home Office ministers have also been highly critical of Facebook's
roll-out of the tech for messaging.

 

Several messaging platforms, including Signal and WhatsApp, have previously
told the BBC they will refuse to weaken the privacy of their encrypted
messaging systems if directed to do so.

 

Signal said in February that it would "walk" from the UK if forced to weaken
the privacy of its encrypted messaging app.

 

Apple's statement now means that some of the most widely used encrypted apps
oppose this part of the bill.

 

The government argues it is possible to provide technological solutions that
mean the contents of encrypted messages can be scanned for child abuse
material.

 

The only way of doing that, many tech experts argue, would be to install
software that would scan messages on the phone or computer before they are
sent, called client-side scanning.

 

This, critics say, would fundamentally undermine the privacy of messages.

 

In 2021 Apple announced plans to scan photographs on people's iPhones for
abusive content before they were uploaded to iCloud but these were abandoned
after a backlash. It has now clearly signalled its opposition to any measure
that weakens the privacy of end-to-end encryption.

 

'Routine scanning'

Its announcement comes as the digital civil liberties campaigners The Open
Rights Group sent an open letter to minister Chloe Smith.

 

The letter, signed by more than 80 national and international civil society
organisations, academics and cyber-experts, says: "The UK could become the
first liberal democracy to require the routine scanning of people's private
chat messages, including chats that are secured by end-to-end encryption.

 

"As over 40 million UK citizens and 2 billion people worldwide rely on these
services, this poses a significant risk to the security of digital
communication services not only in the UK, but also internationally."

 

Element, a British tech company whose products using E2EE are used by
government and military clients, has previously told the BBC measures in the
bill that are seen to weaken the privacy of encrypted messages would make
customers less trustful of security products produced by UK firms.

 

There is a growing expectation, the BBC has learned, that changes may be
made to part of the bill which critics say could be used to mandate
scanning. These could be included in a package of amendments to be revealed
in the coming days.

 

But it is not clear what the detail of those changes might be, or if they
will satisfy the concerns of campaigners.-bbc

 

 

 

 

Drinks giant Diageo ends 'broken' Diddy partnership

British drinks giant Diageo has ended its partnership with Sean Combs, known
as Diddy, after the rapper sued the firm, accusing it of neglecting his
tequila brand due to his race.

 

The company announced the move while responding formally to the lawsuit,
which it asked to be dismissed.

 

It said Mr Combs' complaints were false and defamatory and made in an effort
to extract money from the company.

 

An attorney for Mr Combs said Diageo was trying to distract from his claims.

 

Diageo, owner of brands such as Johnnie Walker, Guinness and Tanqueray, said
the relationship had been on the rocks since Mr Combs had failed to meet his
promises to fund DeLeon Tequila, which they bought together in 2013.

 

Diageo said it had invested more than $100m (£78m) in DeLeon Tequila and
"tried for years to salvage the broken relationship with Mr Combs".

 

"Despite having made nearly a billion dollars over the course of our 15-year
relationship, Mr Combs contributed a total of $1,000 and refused to honor
his commitments," the company said.

 

"Mr. Combs' bad-faith actions have clearly breached his contracts and left
us no choice but to move to dismiss his baseless complaint and end our
business relationship".

 

Mr Combs rose to fame as a music executive and rapper in the 1990s before
branching out into acting and other business ventures.

 

He had worked with Diageo since 2007, when the company asked him to help
promote the company's Ciroc vodka.

 

The complaint from his company - Combs Wines & Spirits - against Diageo
accused the firm of falling short of its commitments for distribution,
investment and brand positioning for DeLeon. It accused the firm of "racial
typecasting" and limiting DeLeon's distribution to "urban" neighbourhoods.

 

An attorney for Mr Combs said he had "repeatedly raised concerns as senior
executives uttered racially insensitive comments and made biased decisions
based on that point of view".

 

"Diageo attempting to end its deals with Mr Combs is like firing a
whistleblower who calls out racism. It's a cynical and transparent attempt
to distract from multiple allegations of discrimination," said his attorney
John C Hueston.

 

He added: "This lawsuit and Mr. Combs are not going away."

 

In its response, Diageo blamed the problems on Mr Combs' "failure to fund
the JV [joint venture]", which it said had "created a contentious
relationship, severely damaged the DeLeon brand at a critical juncture, and
stalled its promise and potential for growth for several years".

 

Diageo said it had agreed to forgive Mr Combs' debts during negotiations in
2020. Following a reset, sales volumes had doubled, it said.

 

"Unfortunately, Combs has proven himself once and for all to be an
unreliable and untrustworthy business partner," the company said in its
response.

 

"Despite DeLeon's recent growth and progress, and in disregard of multiple
provisions of the DeLeon Agreement, earlier this year Combs again began to
threaten Diageo with contrived racism allegations to force Diageo to accede
to several outrageous and extra-contractual demands, including for supposed
billions of dollars of damages."

 

Diageo said it remained committed to the success of the DeLeon and Ciroc
brands but planned to sever ties.

 

"We have exhausted every reasonable remedy and see no other path forward,"
it said.-bbc

 

 

 

 

UK to work more closely with EU on financial services

The UK has signed a pact with the EU to increase co-operation on financial
services.

 

It will set up a forum where the EU and UK can meet twice a year to discuss
financial regulation and standards.

 

The long-awaited move is being seen as a sign the UK is willing to work more
closely with the EU.

 

Chancellor Jeremy Hunt said building a constructive relationship was of
mutual benefit, as the UK and EU financial markets were "deeply
interconnected".

 

The memorandum of understanding that is being signed was first outlined in
the UK-EU Trade and Co-operation Agreement, in the wake of the UK losing
unfettered access to EU markets under Brexit.

 

The text was published last month, and the memorandum itself amounts to a
list of broad shared objectives.

 

However, describing this as an "agreement" is misleading. It does not mean
the UK is committing to align with the EU on regulation, nor conceding to
any previous demands Brussels may have signalled, such as moving the
processing of some euro-denominated financial instruments out of London.

 

What it means is that both sides are committing to a regular twice-yearly
meeting to discuss "voluntary regulatory co-operation on financial services
issues".

 

"Both sides will share information, work together towards meeting joint
challenges and co-ordinate positions," the memorandum says.

 

Daniel Ferrie, a spokesperson for the European Commission, said the move
would "set up a forum to facilitate dialogue".

 

However, he added: "It does not restore UK access to EU, nor prejudges
adoption of equivalence decisions." Under equivalence, access to the EU can
be granted to foreign firms in certain areas of financial services if the
rules governing the sector are deemed "equivalent".

 

Chancellor Jeremy Hunt (L) and EU Commissioner for Financial Stability,
Financial Services and Capital Markets Union Mairead McGuinness shake hands
after signing the EU-UK Memorandum of Understanding on financial services
regulatory cooperation

 

 

In March, the UK and the EU signed the Windsor Framework, which aims to ease
the passage of goods arriving in Northern Ireland from Great Britain by
reducing the number of checks needed. The agreement was seen as a sign of
improving relations between the UK and the EU.

 

Coming after the Windsor Framework, the signing of the financial services
memorandum is another indication that the UK has become more conciliatory
and pragmatic in its approach to the EU than under previous Prime Ministers
Boris Johnson and Liz Truss, and may potentially signal more alignment on
future regulation. However, any discussion of this is avoided in the text.

 

Speaking after the signing of the memorandum, Mr Hunt said it was an
"important turning point", while the EU's financial services commissioner,
Mairead McGuinness, said the Windsor Framework had "allowed us to move
forward in a spirit of partnership, based on trust, co-operation and
delivering benefits for people on both sides".

 

"This MoU [memorandum of understanding] we've just signed is one example of
the benefits of partnership," she added.

 

The EU accounted for 37% of UK financial services exports in 2019, and the
UK has retained its position as Europe's most important financial centre
post-Brexit, while far fewer jobs have moved than expected, fewer than
10,000.

 

Chris Hayward, policy chairman of the City of London Corporation, said the
signing of the memorandum "sets the stage for a new era of co-operation with
our EU partners".

 

"We hope this agreement will help ensure both our financial services sectors
remain open for business."

 

Treasury sources have conceded that the agreement of the Windsor Framework
paved the way to get this memorandum over the line. This bodes well for
closer working on some of the outstanding parts of the post-Brexit
arrangements - not least the tighter rules around rules of origin that are
due to come in for carmakers.

 

But in practice it is unlikely to mean significant changes for financial
services in the very near future. The likelihood is there is only time for
three forums ahead of the next election.-bbc

 

 

 

Meta: Facebook owner launches $7.99 a month virtual reality service

Facebook owner Meta has launched a virtual reality (VR) subscription service
as it tries to make that part of its business profitable.

 

Meta says paying users will get access to two new games a month.

 

For the first three months of the year, the parent company of Instagram saw
a $4bn (£3.1bn) loss at its VR unit.

 

Meta faces competition from firms including technology giant Apple, which
unveiled its highly anticipated mixed-reality headset this month.

 

On Monday, the company said the Meta Quest+ service, which costs $7.99 a
month or $59.99 for an annual subscription, was compatible with its Quest 2,
Quest Pro and upcoming Quest 3 headsets.

 

In 2021, Meta chief executive Mark Zuckerberg unveiled plans to build a
"metaverse" - an online world where people can play games, work and
communicate in a virtual environment, often using VR headsets.

 

"Over time, I hope that we are seen as a metaverse company and I want to
anchor our work and our identity on what we're building towards," Mr
Zuckerberg said.

 

In February last year, Meta unveiled several ambitious artificial
intelligence projects, and Mr Zuckerberg described AI as "the key to
unlocking the metaverse".

 

The company reported a profit of $5.7bn for the first three months of this
year, surpassing market expectations.

 

However, its Reality Labs division, which produces VR headsets and other
products, reported a net loss of $4bn for the period.

 

Earlier this month, Apple unveiled its Vision Pro mixed-reality headset, in
its first major hardware launch in almost a decade.

 

Apple's headset, which will be released early next year in the US, will be
priced at $3,499.

 

That is considerably more than other headsets currently available in the
market. Meta's VR headsets are priced between $299.99 and $999.99.-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  

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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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