Major International Business Headlines Brief::: 28 March 2023

Tue Mar 28 07:32:18 CAT 2023

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Major International Business Headlines Brief::: 28 March 2023 

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ü  Binance accused of breaking US financial laws

ü  Heathrow strike forces BA Easter flight cancellations

ü  NFT: Plans for Royal Mint produced token dropped by government

ü  Silicon Valley Bank: Collapsed US lender bought by rival

ü  Outrage at new project for firm behind P&O sackings

ü  Jack Ma: Alibaba founder seen in China after long absence

ü  Elon Musk: Twitter says parts of source code leaked online

ü  Why fun apps are banned on French officials' phones

ü  North Sea oil and gas losing investments - report

ü  South Africa: Millions Paid to Buy Alternative Power Sources for Ministers

ü  Nigerians Now Go for Cheap Brands to Cut Cost

ü  Nigeria: Headwinds From Trapped Funds, Litigation May Hinder Nigeria Air's Takeoff

ü  Rwanda First African Country to Fully Integrate Drone Technology in Fighting Malaria

ü  Rwanda: Longer Maternity Leave Sparks Public Debate

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Binance accused of breaking US financial laws

US regulators are seeking to ban Binance, the world's largest crypto trading platform, alleging that the firm has been operating in the country illegally.

The lawsuit from the Commodity Futures Trading Commission (CFTC) said the firm cultivated US business while failing to register properly with authorities.

It accused Binance of breaking numerous US financial laws, including rules intended to thwart money laundering.

Binance defended its practices.

It said it had made "significant investments" to ensure that US users were not active on the platform, including blocking users identified as American citizens or residents, or who had a US mobile number.

"This filing is unexpected and disappointing as we have been working collaboratively with the CFTC for more than two years. Nevertheless, we intend to continue to collaborate with regulators in the US and around the world," the firm said.

"The best path forward is to protect our users and to collaborate with regulators to develop a clear, thoughtful regulatory regime."

Founded in 2017, the company is now the world's largest centralised exchange for digital assets, claiming more than 100 million users globally. It is led by Chinese-born Canadian billionaire Changpeng Zhao, who was also named in the complaint.

The CFTC said Binance had been active in the US since 2019, but never properly registered with the government or complied with relevant US laws, using an "intentionally opaque" global corporate structure in a bid to escape oversight.

For much of that time, Binance did not not require its customers to provide any identity-verifying information before trading on the platform, the CFTC alleged in the civil lawsuit, filed in federal court in Illinois.

In 2021, the firm announced it was tightening its rules. But at the same time, the CFTC said it advised US-based customers on how to evade those controls using virtual private networks (VPNs) and shell companies.

The firm evaded the rules "to maximize corporate profits," the CFTC said.

It asked the US court for restitution and fines, as well as permanent trading and registration bans.

CFTC chairman Rostin Behnam said the government filed the case to protect American investors and it should serve as a wider warning to those working in the crypto sector.

"For years, Binance knew they were violating CFTC rules, working actively to both keep the money flowing and avoid compliance. This should be a warning that the CFTC will not tolerate wilful avoidance of US law," he said.

Around the time the lawsuit was announced, Mr Zhao posted on Twitter a message that read "4" - apparently referring followers back to advice in an earlier post urging people to "ignore .... fake news, attacks, etc."

After several years of explosive growth, the crypto industry has been struggling with a sharp decline in prices, as well as increased scrutiny from regulators.

Last year, US officials warned the industry that they planned to use existing laws to more rigorously enforce against issues such as conflicts of interest and lack of transparency.

In October, the CFTC said more than 20% of the cases it had pursued in the 12 months prior concerned the sector, including cases against Bitfinex and Tether. It is also among the agencies in the US that has brought fraud charges against Sam Bankman-Fried and FTX, previously a major rival to Binance.-bbc

Heathrow strike forces BA Easter flight cancellations

British Airways is cancelling around 32 flights a day to and from Heathrow Airport at the start of the Easter holidays.

The move is due to a planned 10-day strike by 1,400 Heathrow security workers in the Unite union, who are taking action in a dispute over pay.

BA said it had offered a range of options to affected customers.

Heathrow says contingency plans will be put in place to ensure it can "operate as normal".

Workers at Terminal 5, which is used by British Airways, will take part in the action, as will those who check cargo.

The walkout is due to start on 31 March and end on 9 April. Talks last week failed to avert the action.

BA has been told by the airport to reduce its schedule on those days by 5% and has stopped selling tickets.

Heathrow security guards to strike for 10 days

Strike action: What do rail workers, nurses and others want?

In a statement, the airline said: "We've regrettably had to make a small number of adjustments to our schedule.

"We've apologised to customers whose travel plans have been affected and have offered them a range of options, including rebooking onto a new flight with us or another airline, or requesting a full refund."

A Heathrow spokesperson said: "We will not let these unnecessary strikes impact the hard-earned holidays of our passengers."

The airport said it was deploying 1,000 additional staff, together with its management team, who will be in the terminals providing assistance to passengers over the Easter break.

It said it may take "a little longer than usual to get through security", and advised passengers to help ensure a smooth departure by checking their flight status before travelling to the airport, and by having their liquids and electronics ready for security.

Sharon Graham, general secretary of the Unite union, said "our members are simply unable to make ends meet due to the low wages paid by Heathrow. They are being forced to take strike action due to need not greed."

Heathrow says it has offered a 10% pay rise.

Strike action in other countries, notably France, has already caused a number of airlines to cancel flights this year.

Monday's strike in Germany has also caused cancellations.

bbc

NFT: Plans for Royal Mint produced token dropped by government

Plans for a government backed non-fungible token (NFT) produced by the Royal Mint have been dropped, the Treasury has announced.

Rishi Sunak ordered the creation of a "NFT for Britain" that could be traded online, while chancellor in April 2022.

NFTs are assets in the digital world that can be bought and sold, but which have no physical form of their own.

The Treasury announced it was "not proceeding with the launch" following a consultation with the Royal Mint.

But economic secretary Andrew Griffiths said the department would keep the proposal "under review".

What are NFTs and why are some worth millions?

Some cryptocurrencies to be regulated in UK

NFTs have been touted as the digital answer to collectables, but some sceptics fear they could be a bubble waiting to burst. They have been used as speculative assets and some have sold for millions of dollars.

Responding to the announcement, Harriet Baldwin, chair of the Treasury Select Committee, said: "We have not yet seen a lot of evidence that our constituents should be putting their money in these speculative tokens unless they are prepared to lose all their money.

"So perhaps that is why the Royal Mint has made this decision in conjunction with the Treasury."

NFTs are unique units of digital data that use the same "blockchain" technology behind cryptocurrencies - such as Bitcoin. The records cannot be forged because the blockchain ledger is maintained by thousands of computers around the world.

The digital tokens, which emerged in 2014, can be thought of as certificates of ownership for virtual or physical assets, and can be bought using traditional currency or cryptocurrency.

The Treasury is working to regulate some cryptocurrencies and had planned to enter the NFT market as part of a wider bid to make the UK a hub for digital payment companies.

In April 2022, the then-chancellor Mr Sunak said: "We want to see the [cryptocurrency] businesses of tomorrow - and the jobs they create - here in the UK, and by regulating effectively we can give them the confidence they need to think and invest long-term."

Among the best-known NFTs are a series known as the "Bored Ape Yacht Club", which give the bearer ownership over a unique picture of a cartoon ape. Prices of the NFTs plummeted last year after crypto exchange FTX went bankrupt.-bbc

Silicon Valley Bank: Collapsed US lender bought by rival

The assets and loans of collapsed US lender Silicon Valley Bank (SVB) are being bought by rival First Citizens BancShares.

Investors welcomed the deal, sending First Citizens shares up more than 40%.

The rise helped drive broader gains in banking shares, which have been in turmoil since SVB's failure sparked fears over the stability of the sector.

In Europe, worries over the strength of Swiss banking giant Credit Suisse led to a rushed takeover by rival UBS.

The deal for SVB brings to a close a saga that started earlier this month after a run on the bank forced US regulators to take over. Its collapse was swiftly followed by the failure of another US lender, Signature Bank.

The demise of the two were the biggest bank failures in the US since the financial crisis of 2008.

Under the SVB takeover deal, all 17 former SVB branches will open under the First Citizens brand on Monday. SVB customers are being advised to continue using their current branch until they receive notice from First Citizens Bank that their account has been fully moved across.

Is this a banking crisis - how worried should I be?

What does a bank do with your money?

First Citizens is based in Raleigh, North Carolina and calls itself America's biggest family-controlled bank. It has been one of the largest buyers of troubled banks in recent years.

The Federal Deposit Insurance Corp, the US financial regulator that announced the deal, said First Citizens had bought around $72bn of SVB's assets at a discount of $16.5bn - a deal that will make the bank one of the 25 biggest in the US.

The FDIC said it would retain control of about $90bn of SVB's assets and estimated the cost of the SVB failure to its deposit insurance fund would be about $20bn. It will also receive an equity stake in First Citizens worth up to $500m.

The FDIC said it had received 27 bids from 18 bidders before settling on the First Citizens deal. 

The UK arm of SVB was bought by HSBC earlier this month for £1.

Threat of rising rates

Interest rates were cut sharply during the 2008 global financial crisis and again during the Covid pandemic as central banks around the world sought to encourage economic growth.

But rates have been rising over the past year as central banks try to rein in soaring prices.

These rate rises have hit the value of investments that banks keep some of their money in, and contributed to the bank failures in the US.

The worry that has unnerved financial markets is that there could be other problems in the banking sector, which have not yet emerged.

Central banks around the world have stressed that the banking system is safe and lenders are well capitalised.

Sarah Hewin, head of Europe & Americas research at Standard Chartered bank, told the BBC's Today programme that there is a "very febrile environment" among investors.

"At the moment there's a lot of psychology rather than reality which is running markets."

On Sunday, the head of the International Monetary Fund, Kristalina Georgieva, said there was a "need for vigilance" given the turbulence in the banking sector and warned it was "clear that risks to financial stability have increased".

"At a time of higher debt levels, the rapid transition from a prolonged period of low interest rates to much higher rates... inevitably generates stresses and vulnerabilities."-bbc

Outrage at new project for firm behind P&O sackings

A decision to allow the owner of P&O Ferries to be involved in a major new infrastructure project has sparked outrage, after the firm sacked 800 workers without notice last year.

DP World has been approved to co-run the Thames Freeport in Essex, as part of Rishi Sunak's freeports plan.

The Trades Union Congress said it was an "appalling decision", enabling other employers "to act with impunity".

The government said the new freeport would "help to grow the economy".

P&O Ferries sacked hundreds of seafarers in March 2022 and replaced them with foreign agency workers paid less than the minimum wage.

The move sparked outrage and led to calls for P&O's boss Peter Hebblethwaite to resign.

A week afterwards, Mr Hebblethwaite admitted to MPs that the decision had broken employment law.

At the time, the government called the workers' treatment "wholly unacceptable".

Outrage and no ferries after mass P&O sackings

Not consulting on cuts broke law, P&O boss admits

How can freeports help the economy?

Grant Shapps, who was then transport secretary, said the law would be changed to stop companies firing staff on-the-spot.

The government also cancelled a contract with P&O Ferries in May, a decision it said was in response to the sackings.

But on Monday, the government confirmed it had recently approved plans for the Thames Freeport, and that it would be run by a partnership between DP World, carmaker Ford and Forth Ports.

The port will receive £25m in government funding, which will go to local authorities, as it works to attract £4.6bn more in public and private investment.

Paul Nowak, general secretary of the TUC, said ministers should have "stripped the company of all its public contracts and severed commercial ties" after the P&O sackings.

"But the government has chosen instead to reward DP World with another bumper deal. This is giving a green light to other rogue employers to act with impunity."

A spokesperson for Thames Freeport said that DP World and its partners had invested heavily in port and logistics infrastructure over the past decade.

They added that the new port would benefit the "levelling up of the region", with more than 21,000 direct and indirect jobs created.

The government said the project would lead to "much needed" investment in the area.

Local authorities will administer the government funding "to benefit the entire region", it added, while the freeport will receive "potentially hundreds of millions in locally-retained business rates".

Freeports aim to create economic activity - like trade, investment and jobs - near shipping ports or airports. Goods imported into freeports are exempt from taxes, called tariffs, that are normally paid to the government.

Eight freeports have already been set up in England, with more in the pipeline.

The Thames Freeport will be made up of three sites - the London Gateway in Thurrock, the Port of Tilbury near Southend-on-Sea, and Ford's Dagenham car plant.-bbc

Jack Ma: Alibaba founder seen in China after long absence

Alibaba founder Jack Ma, who has rarely been seen in public in the past three years, has resurfaced at a school in Hangzhou, a report says.

The 58-year-old has kept a low profile since criticising China's financial regulators in 2020.

Mr Ma was the most high-profile Chinese billionaire to have disappeared amid a crackdown on tech entrepreneurs.

He recently returned to China after more than a year overseas, according to the South China Morning Post.

The Alibaba-owned newspaper said he had made a short stopover in Hong Kong, where he met friends and also briefly visited Art Basel, an international art fair.

It added that Mr Ma has been travelling to different countries to learn about agricultural technology, but made no reference as to why he had disappeared from public view in recent years.

Mr Ma, a former English teacher, met staff and toured classrooms at the Yungu School in Hangzhou, the city in which Alibaba is headquartered.

He talked about the potential challenges of artificial intelligence to education, according to the school's social media page.

"ChatGPT and similar technologies are just the beginning of the AI era. We should use artificial intelligence to solve problems instead of being controlled by it," he said.

Once the richest man in China, Mr Ma gave up control of financial technology giant Ant Group in January this year.

It was seen by some commentators as further evidence that he had fallen foul of the Chinese Communist Party for becoming outspoken and too powerful.

In October 2020, Mr Ma told a financial conference that traditional banks had a "pawn-shop mentality".

The following month, Ant's planned £26bn stock market flotation, which would have been the world's largest, was cancelled at the last minute by Chinese authorities, who cited "major issues" over regulating the firm.

Since then, there have been reported sightings of him in various countries including Spain, the Netherlands, Thailand and Australia.

Last November, the Financial Times newspaper reported that Mr Ma had been living in Tokyo, Japan for six months.

When Mr Ma first stopped making public appearances, it was rumoured that he had been placed under house arrest or had been otherwise detained.-bbc

Elon Musk: Twitter says parts of source code leaked online

Parts of the source code which underpins multi-billionaire Elon Musk's social media platform have been leaked online, Twitter says.

It says the code was posted on GitHub, a Microsoft-owned service where software developers share code.

It has now been taken down after Twitter requested its removal.

Separately, Mr Musk has reportedly signalled to Twitter workers that the firm is worth less than half the $44bn (£36bn) he paid for it last year.

"GitHub does not generally comment on decisions to remove content. However, in the interest of transparency, we share every DMCA [Digital Millennium Copyright Act] takedown request publicly," a GitHub spokesperson told the BBC.

The DMCA was signed into law in the US in 1998. It is aimed at protecting copyrighted material on the internet.

In the takedown request, Twitter called on GitHub to provide information on who was behind the account which leaked the code - named FreeSpeechEnthusiast.

San Francisco-based Twitter said in the filing that the account had infringed copyrights owned by the company.

The leak creates a new challenge for Mr Musk, who has slashed Twitter's workforce by more than a third and faced an exodus of advertisers since buying the platform in October last year.

Meanwhile, the Tesla chief executive has reportedly indicated that Twitter is now valued at less than $20bn.

The estimate of the company's value was based on Mr Musk's offer of stock grants to staff, according to technology news websites Platformer and the Information, which first reported the story.

Mr Musk also reportedly told staff: "I see a clear, but difficult, path to a >$250B valuation," which suggests a more than tenfold increase in Twitter's valuation.

In response to a BBC request for comment Twitter's press office email account automatically responded with a poo emoji, an approach that Mr Musk announced in a tweet earlier this month.-bbc

Why fun apps are banned on French officials' phones

Governments and institutions around the world have been banning TikTok from officials' phones and devices, over the past few months.

The Netherlands and Norway have joined the list of countries banning the video-sharing app, owned by Chinese company ByteDance, from government-issued devices.

And despite TikTok's insistence it is independently run and shares no users' data with the Chinese government, France has become the latest country to restrict officials' access to it.

But at the same time, it has also become the first country to do the same for all "recreational" apps - including:

The ban, monitored by France's cyber-security agency, will affect about 2.5 million civil servants.

"Recreational applications do not deliver sufficient levels of cyber-security and data protection to be deployed on administration's digital tools," Civil Service Minister Stanislas Guerini said.

"These applications may therefore constitute a risk to the data protection of these administrations and their public officials." Although, exceptions could be granted for "institutional communications" purposes.

So it looks like France, unlike the rest of the West, is viewing Chinese and American technology companies in a similar way. Although, it is not the first instance of technology tension between the US and France.

In 2019, France approved a digital-services tax despite threats of retaliation by the US, who argued it unfairly targeted American technology giants such as Google and Facebook.

And since 2018, France has been vocally opposed to the US Cloud Act, which gives American law-enforcement authorities the power to request data stored by most major cloud providers, even if it is outside the US.

Day after day, governments and public bodies are banning TikTok from staff devices - but France's decision to clamp down on all "recreational apps" stands out and is being praised by privacy campaigners.

Fears about TikTok have reached fever pitch - but alongside the furore, people are beginning to question the privacy practices of other apps too - regardless of where the companies are based. And this feels like a moment privacy campaigners have been waiting for.

Questions are being asked about how data is collected and used by the likes of Facebook, Instagram, Snapchat and even Candy Crush.

The political focus is currently on TikTok because its parent company is in China - but the French government is clearly saying all these social-media companies have questions to answer.

bbc

North Sea oil and gas losing investments - report

The energy windfall tax, political uncertainty and increased costs are pushing away investment in North Sea oil and gas, a report has warned.

Industry body Offshore Energies UK estimates that 90% of offshore firms are cutting spending worth billions.

It says a continued lack of investment would see production fall by 80% by 2030, increasing reliance on imports.

Environmental group Uplift says oil and gas firms need to invest more in renewables.

The Energy Profits Levy - which the industry opposes - saw headline tax rates increase last year from 40% to 75%.

But companies have still been recording record profits with BP making $27.7bn (£23bn) in 2022.

The latest headlines from Scotland

Energy firms call for windfall tax to fall with prices

The report says inflation, material costs and a lack of access to finance are also hampering investment decisions.

These combined factors mean the sector is likely to produce 500 million fewer barrels of oil, which is about the same as a year's production from the North Sea.

Ross Dornan, from OEUK, said: "By the mid-2030s, according to the Climate Change Committee, oil and gas will still provide half our energy needs.

"We should be aiming to get as much as possible of that energy from our own resources - meaning the North Sea.

"That makes it essential for the UK to attract investment. The alternative is to become ever more reliant on other countries."

The report also points out that its member companies are collectively spending £30bn this decade on offshore wind projects which would almost double the UK's capacity.

It says that delays to planning consents and grid connections are slowing down the rate of deployment but also warns that financial uncertainties linked to the windfall tax are putting projects in jeopardy.

Some offshore wind farms are expected to take a decade to be built and readily producing electricity.

How much windfall tax are oil giants paying?

Uplift executive director Tessa Khan praised the decisions to invest in green energy but accused the government of lagging behind the curve.

She said: "Around the world, we are seeing countries accelerate plans to phase out oil and gas in response to both soaring prices and the climate crisis.

"The UK must make sure that our legacy oil and gas industry doesn't slow the pace of change here and hold us back."

The oil and gas industry in the UK has argued that North Sea output needs to fall in line with consumption to avoid increasing reliance on imports.

Fossil fuels produced overseas often come with a larger carbon footprint than "home grown" equivalents.

The report warns of a projected increase in the costs of the imported Liquified Natural Gas (LNG) with demand for it likely to grow across the world.

With the oil price set in US dollars, it also warns of increasing costs for UK operators because of the weak pound.-bbc

South Africa: Millions Paid to Buy Alternative Power Sources for Ministers

Government ministers and their deputies have been shielded from rolling power blackouts by the government spending more than R7m to buy generators and inverters for them at their official homes, TimesLive reports. It emerged in parliament that the department of public works has been "procuring and installing alternative power supply systems" at ministerial homes in Pretoria's affluent suburbs at a cost of R7.04m since 2019. These alternative power supply systems include generators, solar systems and inverters that keep the lights burning and appliances on for ministers and their deputies while ordinary taxpayers remain in the dark during load shedding, which is implemented by power utility Eskom when it is unable to supply enough electricity to meet demand. This was revealed by new public works minister Sihle Zikalala in response to written questions by DA MP Leon Schreiber.

Pretoria is South Africa's Most Congested City

According to traffic statistics from GPS company TomTom, Cape Town and Pretoria are fighting hard for the top spot of South Africa's most congested city. News24 reports that the company ranks traffic in 390 cities, including several in South Africa. It does so using "floating car data" that it collects from various sources, which it samples to create a global index. Pretoria commuters take an average of 16 minutes to travel just 10km, at an average speed of 32 km/h, according to TomTom. This translates into 145 hours, or six days, spent in rush hour per year - and is 40 seconds longer than the same journey would have taken in 2021. Cape Town, consistently one of South Africa's most congested cities, has slipped to second place nationally and 156th place globally. Capetonians take about 30 seconds less than Pretorians to commute 10km and spend about five and a half full days, or 132 hours, per year, sitting in traffic.

Former Head Boy Still Missing After Alleged Kidnapping

A young businessman from the Eastern Cape is still missing after being kidnapped, TimesLive reports. Eastern Cape Hawks spokesperson Yolisa Mgolodela said on Sunday that there were no developments in the case. "Law enforcement officers are up and about trying their level best," said Mgolodela. Hilton Wicks, 24, was apparently grabbed in Maclear in the early hours of Friday March 24, 2023, according to several posts shared on social media. Wicks is a former head boy of Kingswood College in Makhanda.

-South African news 

Nigerians Now Go for Cheap Brands to Cut Cost

The saying; 'Cut your coat according to your cloth', has become the order of the day in the everyday lives of Nigerians.

It has not only dug itself into their lifestyles but also their pockets.

Average Nigerian desires three basic things - food, clothing and shelter, and then other needs follow.

The best brands of everything from clothes to food are aimed at and become the practice throughout the period of wealth.

However, the economic state of the nation has put both the rich and poor in the same basket, as many now go for cheap brands of goods to cut costs.

Choice of food

Processed food, which is basically consumed in Nigeria, is also feeling the hard blows of the economy as people now go for the cheap ones.

Ms. Dupe Ibrahim, a civil servant, had to go for a new brand of milk with good taste, whose roll (10 sachets) cost N450, instead of the one that costs N950.

"I have changed almost all the brands of processed food I buy from the market.

"I have dropped brands like Milo, Bournvita, Blueband margarine, and Peak milk, among others.

"Their prices are double that of some new brands.

"I now buy a new type of milk for N450 per roll. The other one was N950 per roll, which was two rolls for my family and I for two weeks.

"That money for two rolls I now use to buy more than three, because of my new preference.

"In Nigeria of today you need to be smart and drop shame to survive."

A market survey by Economy & Lifestyle showed that new brands of different food products such as spaghetti, custard, sugar, milk, beverages, oatmeals, vegetable oil, butter, mayonnaise, among others, have filled the market, with people going for them, as the cost of the old brands have tripled.

Mrs. Adebayo Ranti, a businesswoman, with a family of four, said she had to mix cassava and rice flour (per paint N5,000) to replace poundo yam, whose price per 1.8kg is now N10,500.

"I do love poundo yam flour, as a swallow, but the price has continued to rise since 2019.

"Recently, when I got to the market a 1.8kg of poundo yam was sold at N10,500. I was angry because it wouldn't be enough for a family of four to eat thrice.

"I had to fall back to rice and cassava flour which has similar taste and looks like poundo yam.

"A paint rubber of rice and cassava flour cost N3,000 and will last for a month or more for us depending on how often we eat it.

"At least I have saved thousands with such substitution."

Mrs. Aina Olorogun, a tailor said her family does consume yam a lot but since the price of yam has increased she goes for potato and spaghetti.

"We are a family of five. Three kids, myself and my husband.

"We love eating yam alot and now the price of yam has increased even when it was the season.

"A big tuber of yam is sold for N2,000 to N2,500. Before it was sold for N1,000 to N1,200.

"If you are lucky you can get up to 15 slices. Sometimes almost half of the yam will be bad.

"So, I thought why spend lots of money on something that is not satisfying you.

"I decided to switch to potatoes of which that of N2,000 will sustain us for three weeks, and spaghetti, which is also cheap because there are new brands in the market such as Aunty B. So, I go for them."

Choice of men's underwear

The price of men's underwear has also increased as many now go for second hand, pants, boxers and singlet.

Those who couldn't go for second hand due to shame get the lowest quality brand.

Mr. Andrew Fayele, a Secondary school teacher, said:" Men's undergarments are very expensive. You know there are some men that have only two undergarments.

"I can't live such a life. So I had to go for second hand ones which cost N300 for a pair. I have a woman who sells boxers and singlets. She do bring them to my house and I select.

"Some friends of mine do come over to select too. But those who can't come due to shame have to go for cheap new ones."

A tour of the Lagos Island market revealed that a pair of original men's briefs is between N7,000 to N10,000 while the less quality one is as low as N1,000.

Similarly, the price of an original lux three in one singlet goes for N7000 while other products three in one singlet costs N2,500 to N3,500.

Mrs Betty Nwoke, an undergarment seller in Lagos Island, said:"People no longer go for the expensive undergarments anymore. Some even prefer wearing shorts as undergarments.

"Lux which is a very quality brand of singlet is difficult to get. If you see it, know that it is fake because the original is very expensive.

"People now go for other brands like this Yomitex product."

Choice of shelter

For Mr. Olumide Johnson, a furniture builder, his dream of living in a three bedroom apartment was cut short as he had to forgo it for a room and parlor self-contained to cut costs.

"I have lived in a three bedroom apartment for seven years with my family.

"Recently, we moved to a room and parlor self-contained room as the rent for our old apartment was increased to N700,000 annually from N500,000 that I was managing to pay.

" Now, I can breathe well when I remember my rent (N300,000)."

Mr. Makinde Jubril, a house agent said many landlords with three-bedroom apartments in non-industrial areas were changing it to a room and parlor self-contained or a room self-contained to enable people to afford it.

According to him, "People who come to most of us here keep asking for a room and parlour self-contained apartment. Some are self-contained apartments.

"Some of the occupants of the three-bedroom apartment couldn't pay their rent. They had to move elsewhere.

"Houses were lying empty with no occupants.

"So most landlords had to demarcate their house to suit the request of prospective tenants."

  Vanguard.

Nigeria: Headwinds From Trapped Funds, Litigation May Hinder Nigeria Air's Takeoff

The plan by the federal government to commence the operation of Nigeria Air before the end of the President Muhammadu Buhari's administration has received condemnations from stakeholders in the nation's aviation industry who said the airline may not fly before May 29, 2023, unless certain things are put in place.

According to the stakeholders, things to be put in place include the repatriation of trapped funds belonging to the international airlines operating in the country and Bilateral Air Service Agreement (BASA), among others.

LEADERSHIP reports that at the National Aviation Stakeholders Forum 2023 in Abuja on Thursday, the minister of aviation, Senator Hadi Sirika, disclosed that the controversial national carrier, Nigeria Air, will commence operation before the swearing-in of a new administration on May 29.

The minister emphasised that the benefits Nigeria stands to derive from the establishment of the national carrier include reduced capital flight from Nigeria, maximisation of the benefit of Bilateral Aviation Safety Agreement (BASA), Single African Air Transport Market (SAATM) and development of an aviation hub.

"The national carrier will contribute to the country's GDP, facilitate hospitality and tourism, facilitate growth and development of the Nigerian agricultural sector, and create jobs around the Agro-Cargo Terminals," he said.

However, stakeholders in the aviation sector have said the national carrier project may not begin operation before May until the federal government put the right things in place.

They argued that going ahead with the project, the minister is creating landmines for the incoming Asiwaju Bola Tinubu administration.

The chief executive officer, Centurion Security and Safety Consults, Capt. John Ojikutu, told LEADERSHIP yesterday that until Nigeria resolves the payment of foreign airlines trapped in the country, the project may be impossible.

Apart from the issue of trapped funds, he asked if Nigeria had submitted operational plans for acceptance from other countries, asking how many intercontinental routes would be available.

He said, "I have my serious doubts that Nigeria Air will fly and that has been my position since the minister's move in 2018. If ever it does, not many intercontinental routes will be available if we are still keeping the foreign airlines monies.

"Even if we pay this money, how many countries have we normalised the plans to operate with or submitted our operational plans with for acceptance? Maybe with only the Ethiopia airline. The airline would die the same way Virgin Nigeria did immediately when a new administration came in.

"This is what I see on the government airline owned by those in the administration of government and not a national carrier owned by Nigerians. By the way, why is it that the minister representing only 5% ownership is the only one doing the show? Where are the representatives of the remaining 46%?"

"That is why I said that I have my doubts except it begins domestic operations and until we settle the foreign airlines' trapped monies before we can begin any operations or flights on any of the Bilateral Air Service Agreement (BASA) routes and supports from International Air Transport Association (IATA)."

Also speaking, the director of Research and Corporate Travel, Zenith Travel Consult, Olumide Ohunayo, said unless the minister of aviation forced his way, the project won't fly before May 29.

He, however, warned that forcing his way to make the airline fly would mean disobeying valid court orders that ordered status quo by all parties.

Ohunayo said, "He might force his way to fly. He might force it down our throat. Does he have the right to say anything when the case is still in court? Does he want to breach the legal processes in the country? With this statement, he's asking Ethiopian Airline not to obey any of Nigeria's court order or any other investor in Nigeria that are part of the Air Nigeria project.

"Also, there is a court order asking status quo to remain and the minister is pushing and encouraging other investors to disobey a valid court order. What he's trying to do now is that no court order in Nigeria those people should respect. We must be careful with what we wish and what we want. The minister can push them to operate, but he's only kicking the can down the road because there will be consequences and actions from June 4 concerning that airline."

Ohunayo, a member of the Aviation Round Table Initiative (ARTI), said the minister was supposed to hand over the supposed project to the next administration instead of forcing it down the throat of Nigerians even at a time the country is in a transition period.

"When you juxtapose his statement on Nigeria Air and the demolition of Federal Airports Authority of Nigeria (FAAN) and Nigerian Airspace Management Agency's (NAMA's) building, he's only trying to give the new administration problems when they resume their administration. This is a transition period; they should halt anything they haven't done and hand over the document to the incoming government but if you say you want to forcefully implement them before you depart on May 29, 2023, then they want to give the incoming government a lot of problems to start with, and that's not good."

"What I believe he should do is to seize the agencies instead of the Nigeria Air. This is because he has overpopulated the agencies with staff from a particular state and region. He should adjust the recruitment because that has stopped the aviation agencies from operating optimally, and suffocating their finances by the employment."

However, the minister of Aviation, Senator Hadi Sirika, has assured Nigerians that every necessary operation had been put in place for the takeoff of Nigeria Air, on or before May 29, 2023.

Sirika, who spoke to LEADERSHIP on the sidelines of the Aviation stakeholders' forum in Abuja, said the aircraft was ready, the offices were in place, the stand at the airport was ready and everything was ready for the takeoff.

He further stated that what is left is to finalise discussion with the Ethiopian Airlines and get the Federal Executive Council's (FEC) approval for the business case.

Sirika, who said the operation of the new airline had been hindered by the court cases, also stated that all the Nigerian-owned airlines were invited to invest in Nigeria Air but they declined because they did not believe in the project.

He explained that Ethiopian Airlines came with a better proposal and was chosen as the preferred bidder because of the expertise it had shown, and how it had survived for a long time now.

The minister said, "Negotiation meeting with the Ethiopian Airlines Group Consortium and the Federal Government of Nigeria is ongoing, next step is for FEC's approval of the Full Business Case. Operation of local and international flights will commence soon. Before the end of this administration, before May 29, we will fly."

Sirika further stated, "When we were setting up Nigeria Air limited, my feeling was to partner with airlines that I think will add value, with financial experience and high profile, such as Emirate, Qatar, Lufthansa, and the rest of them. Those who worked closely with me know that this is my forecast and what I wanted, because I believe if you partner with Lufthansa for example, automatically you will have a licence to fly.

"I thought we would do that and I made attempts to reach them and invite them as I did with all airline owners in Nigeria, except Overland. I reached out to them personally to come and partner to create a strong airline, but fast forward, we had a bidder, Ethiopian Airline. I was very happy that we got them (Ethiopian) to come. It was not my choice but I am happy now knowing what I know.

"They are a household name, strong and they have been in business for 70 years unbroken and they have over 200 aircraft. So, I am very glad we are partnering with them and it is a reality. Some airlines are in court and their grouse is that it can be any airline in the world but not Ethiopian because, in their own way, they think Ethiopian is a competitor."

The minister also said the benefits Nigeria stands to derive from the establishment of the national carrier include reduced capital flight from Nigeria; gain the optimal benefit of BASA and SAATM and develop an aviation hub.

He also said the national carrier will contribute to the GDP, facilitate hospitality and tourism, facilitate growth and development of the Nigerian Agricultural Sector and create jobs around the Agro-Cargo Terminals.

Leadership.

Rwanda First African Country to Fully Integrate Drone Technology in Fighting Malaria

In a world still grappling with malaria elimination, Rwanda was the first country to integrate and deploy drones in the most malaria endemic zones of the country for an accelerated outcome.

In 2019, the government partnered with Charis Unmanned Aerial Solutions (UAS) to introduce an innovative approach to tackle the increasing malaria cases due to changes in Anopheles mosquito behaviors toward outdoor biting, and scaling-up of irrigation agriculture.

Eric Rutayisire, Founder and CEO of Charis UAS, explained that Charis UAS collaborated with the Rwanda Biomedical Centre to develop a protocol on how to use drones and advanced 3D geospatial data as an effective tool to tackle the rise of malaria cases on the African continent.

Dr Sabin Nsanzimana, the Minister of Health, emphasized the importance of using a combination of efforts, technologies, and innovations to combat diseases like malaria. He commended Charis UAS as one of the innovative companies in the country, testifying that the pilot project conducted in 2020 showed that the use of drones to combat malaria is efficient, effective, and easy. With 3.7 million malaria cases reported annually in Rwanda, it is clear that different innovations and technologies are necessary to eradicate the disease.

The project's success has led to its expansion in 2023, with Charis UAS scaling up its activities in Rugende and Kabuye, two communities heavily impacted by malaria. Drones are now being used to map mosquito breeding sites, allowing for targeted interventions. Following mapping, drones are used to spray larvicides in mosquito breeding sites, along with community mobilization, where drones are mounted with megaphones to deliver a pre-recorded message about measures to fight malaria.

Drone- based larviciding has already had a significant impact in 2020, with the Rwanda Biomedical Center reporting a reduction in malaria cases in Jabana Sector by 90.6% from 12,041 cases to 1,129 cases, in only 8 months of drone intervention.

Health workers in the community have also noticed a reduction in malaria cases. Justine Uwingeneye, a healthcare worker in Jabana Sector, Gasabo District, said that she used to attend to at least 5 children per day, three of whom had malaria. However, she testified that after the intervention, it was no longer the case.

Looking to the future, Charis UAS plans to scale up their activities to four more districts in Rwanda and expand into more African countries. This innovative approach not only benefits public health but also has socio-economic benefits for farmers and businesses who can now add three hours to their working hours.

It is clear that Rwanda's use of drones in the fight against malaria has set a new standard for innovation in public health, and it is exciting to see this innovative approach being adopted in other countries facing similar challenges like Côte d'Ivoire, where Charis UAS drones are being deployed to end malaria in 6 endemic regions to impact over 5 million people.

New Times.

Rwanda: Longer Maternity Leave Sparks Public Debate

Working mothers are leaving their babies to domestic workers soon after three months of maternity leave elapse, MP Frank Habineza said, proposing that such a leave should be doubled for better child care.

He made the proposal on March 21, during a parliamentary session that was analysing the bill which seeks to amend the law of 2018 governing labour in Rwanda.

People who reacted to the lawmaker's proposal agreed that it is a good idea in regards to improving baby and mother care, but that the implementation would have an economic and labour implication that should be carefully considered.

"Three months of maternity leave are not enough for the mother to have provided the needed care to the baby. Often, you find that the infant is left to a domestic worker, and you realise that it negatively affects his or her growth," Habineza said while elaborating his suggestion.

"I think that if possible, such a leave should be increased in the proposed Ministerial Order, to at least six months," he suggested.

The Chairperson of the Committee on Social Affairs at the Lower House, MP Odette Uwamariya, said that adequate maternity leave was needed for the wellbeing of the mother and baby.

"A mother needs enough rest for their body to rebuild after giving birth, and also care for their newborn. And, it would be better if the mother is able to breastfeed a baby for the first six months without any other food supplement. That is what medical practitioners tell us that when a baby gets such care, it helps them grow well and healthy, and prevent malnutrition for the infant," she said.

Aude Kaze, who holds a master's degree in midwifery and maternity care, said that the lawmakers' idea to increase maternity leave period is laudable. Kaze does pre- and post-natal classes, which are in line with maternity and child care.

"When a mother has had a very difficult delivery, the time for breast milk to be produced, the bonding between the mother and the newborn can take like two months," she said, indicating that it is not good to tell such a mother to go back to work three months after giving birth.

"For instance, there is a mother who develops pathological pregnancy, which means she for example had diabetes, hypertension during pregnancy, and gave birth through cesarean section. For that mother to return to their normal state, it takes like two months," she said, suggesting that mothers should get at least five months of maternity leave, adding that her salary should be guaranteed so that they are able to care for the baby's needs.

A female secondary school teacher from Eastern Province, who preferred anonymity, supported the longer maternity leave proposal, referring to complications when a woman gives birth through cesarean section.

"Also, leaving the workplace for breastfeeding a baby is not possible when you work at a distant place from home. This causes the issue of breast milk clots which increase quickly because the milk is abundant during the first six months," she said.

Another woman wondered whether there are employers who can hire a woman knowing that she will cost them more than a man.

"Instead, they should set up crèches in institutions, such that mothers leave their infants there under the care of trained nurses while they are at work. And they will go to look after them during the breastfeeding hours within the institution," she said.

However, it is to note that during working days, an employed woman is entitled to one hour a day to allow her to breastfeed her child.

A 14-week maternity leave being considered

On the idea to increase the maternity leave to six months, the Minister of Public Service and Labour, Fanfan Rwanyindo said "this is something good and we endorse it, and we will continue to push so that we achieve it," but indicated that it requires to further expand the social security system for that to be possible.

Meanwhile, Rwanyindo said that the current three months -- or 12 weeks -- of maternity leave in Rwanda, is two weeks short of the minimum 14 weeks mandated by the International Labour Organization (ILO) standards.

"We have not yet achieved that, so we wanted to add those two weeks, she said.

Again, ILO recommends increasing the maternity leave to at least 18 weeks (or four months and a half) to ensure an adequate rest and recovery time for the mother.

However, Rwanyindo told lawmakers that increasing maternity leave has a budgetary impact.

"If we say that we are going to increase the maternity leave by two weeks, we first have to discuss that with RSSB [Rwanda Social Security Board] so that it makes calculations to see whether that is possible, because it again requires that there is a contribution by the employer," she said, explaining that employers in the public and the private sector have to agree on the contribution in question, and that there is money that has to be deducted from the employee's salary.

The suggestion of MPs have raised much attention of people as some are wondering whether a longer maternity leave is not going to burst the risk of discrimination against female workers of childbearing ages in the hiring process.

According the deputy secretary general of Rwanda Workers' Trade Union Confederation (CESTRAR) Jordi Michel Musoni, lengthy maternity leave might affect women's labor market.

"This proposal is motivated by a progressive concern to improve the work-life balance for working parents and encourage greater parent/child contact in those crucial first months of a newborn's life, but it is financial demanding for our level as a developing country and also a long absence from the workplace may break women's ties to the labor market."

He continued: "In private sectors we are still facing issues of employers who does not hire childbearing age women by avoiding three months maternity leave, six months would be worst for women working or seeking jobs in private sectors that's why enforcement of labor law in private sector is needed."

Musoni suggested that the additional 12 weeks on maternity leave should be flexible leave to balance the work with responsibilities of caring for the new baby.

This proposal came after several recommendations of different civil societies and human rights activists suggested maternity leave to be extended.

Invest Wisely!

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