Major International Business Headlines Brief::: 10 May 2023

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

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

 


 

 


Major International Business Headlines Brief::: 10 May 2023 

 


 

 


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

 


 

 


 

ü  Goldman Sachs to pay $215m in sex discrimination case

ü  India’s booming population needs more women at work

ü  Briton pleads guilty in US to 2020 Twitter hack

ü  Longer lorries to be allowed on Britain's roads

ü  Ryanair signs $40bn deal for 300 Boeing aircraft

ü  John Lewis staff to vote on future plans as anger grows

ü  How could the debt ceiling crisis end? Here is what Biden and McCarthy
want

ü  Tesco chairman denies inappropriate touching

ü  Thames, Yorkshire and South West Water bosses refuse bonuses over sewage
spill

ü  Sainsbury's cuts own-brand bread and butter prices

ü  Skipton launches deposit-free mortgage aimed at renters

ü  Botswana Has Always Driven a Hard Bargain With De Beers

ü  Namibia: 19 Municipalities, Councils to Face Load-Shedding

ü  Kenya: Traders to Fully Switch to Electronic Invoices Starting June 1

ü  Malawi: Chakwera Lures Kenya's Largest Juice Maker to Invest in Malawi

 


 

 


          Goldman Sachs to pay $215m in sex discrimination case

Goldman Sachs will pay $215m (£170.5m) to settle claims that it
discriminated against women, offering female staff lower pay and fewer
opportunities.

 

The agreement comes a month before the long-running class-action lawsuit was
due to come to trial.

 

It resolves claims from about 2,800 female staff who worked at the bank in
the US.

 

Goldman will work with outside experts to analyse its pay patterns and
methods of promotion as part of the deal.

 

"I have been proud to support this case without hesitation over the last
nearly 13 years and believe this settlement will help the women I had in
mind when I filed the case," said Shanna Orlich, one of the women who first
filed the legal complaint.

 

The deal resolves a legal matter that has dogged the bank since 2010, when
women stepped forward to accuse the Wall Street giant of a "boys club" work
culture that hindered their advancement.

 

The fight provided a glimpse of the inner workings of the bank, which was
accused of paying female vice presidents 20% less than their male peers,
while tolerating incidents of sexual harassment.

 

Goldman has said it wants to increase the number of women among its more
senior ranks, aiming to have women account for 40% of vice presidents by
2025.

 

About 29% of Goldman's partners and managing directors are currently women.

 

"After more than a decade of vigorous litigation, both parties have agreed
to resolve this matter," said Jacqueline Arthur, Goldman Sachs' global head
of human capital management.

 

She said the bank was committed "to ensuring a diverse and inclusive
workplace for all our people".

 

Kelly Dermody, one of the lawyers who represented the women, called the
settlement figure "substantial".

 

Women who worked for the bank's investment banking, investment management,
or securities divisions in the US as far back as 2002 may be eligible to
receive some of the money.

 

Allegations of pay discrimination against women have been rife, especially
in industries such as finance and tech.

 

In the UK, where Goldman is required to report on pay by gender to the
government, the typical man at the firm out-earned the typical women by at
least 20% - far higher than the 9.4% gap found across the country. Those
figures do not account for differences in position or rank.

 

Google last year paid $118m to resolve claims brought by 15,000 women, while
video game company Riot Games in 2021 agreed to a $100m settlement in a suit
involving about 2,300 women.-bbc

 

 

 

India’s booming population needs more women at work

Last month, India surpassed China as the world's most populous country,
prompting analysts to point out the potential benefits of its significant
young demographic. However, a major obstacle to realising this potential is
the insufficient representation of women in India's workforce. The BBC's
Arunoday Mukharji reports.

 

When Lavanya Uluganathan decided to take a break from work in 2014 to have a
baby, she felt torn and dismayed.

 

But the HR professional from the southern state of Tamil Nadu, who says she
was at the "peak of her career" then, was clear that she wanted to spend
time with her family.

 

Four years and two children later, she felt ready to re-join the workforce.
But finding a job was hard.

 

She faced repeated rejections, and recruiters also asked her to take massive
salary cuts, arguing that she couldn't expect anything else after taking a
break.

 

"It was a huge setback for my career," she says.

 

Ms Uluganathan is not alone. Nearly half of India's population is female and
yet, the number of working women has fallen to record lows in the past two
decades. According to data from the World Bank, the female participation
rate in India's labour force was at its peak in 2000 at 31%. Since then, it
has consistently fallen, hitting a low of 21% in 2018.

 

There are many reasons for this. India is still a largely patriarchal
society, where women are expected to be primary caregivers at home. Indian
women spend eight times the number of hours on unpaid care work compared
with men, according to a national time use survey from 2019. The global
average is three times.

 

Experts say that safety concerns and not being able to find jobs close to
home also prevent women in big cities from joining the workforce.

 

After months of searching, Ms Uluganathan did find a job - as a human
resources manager at one of India's biggest two-wheeler manufacturers.

 

The company has a scheme for women who are returning to their careers after
a professional break - it offers flexible working hours, mentoring and
training to them.

 

Ms Uluganathan said the programme helped her find her ground again.

 

"If you want us to come back with the same energy and enthusiasm, these kind
of programmes have to be there," she says.

 

How India calculates value of women's housework

Why half of India's urban women stay at home

Official data shows that only 32% of Indian women work after they get
married - and most of them are part of the agricultural sector.

 

Ashwini Deshpande, an economics professor and head of the Centre for
Economic Data and Analysis at Ashoka University, says that the country needs
to create more non-farm opportunities in rural areas so that women can find
jobs beyond agricultural work.

 

"If you want to gain from India's gender dividend, then women need to be
productively employed," she says.

 

A 2018 McKinsey report estimated that India could add $550bn to its gross
domestic product by increasing its female labour force participation by just
10%.

 

Currently, women employees account for less than 20% of India's
manufacturing sector. But some changes are visible, especially in the
industrial belt of Hosur in Tamil Nadu.

 

Located just 35km (21 miles) away from the information technology hub
Bengaluru (formerly Bangalore), Hosur is home to a host of industries and
has become an attractive destination for investments.

 

Six years ago, Roshni Lugun left her home - 2,000km away in Odisha state -
and came to Hosur to work as an engineer in a factory. She started off by
making shock absorbers for two- and three-wheelers and is now a staff
supervisor.

 

"I wanted to try something new," she says. "If I had stayed at home, I would
never have progressed so far. I could not have achieved this."

 

Like Ms Lugun, hundreds of other women working at the plant are changing the
face of what was once a male-dominated industry. Even companies in the area
are focusing on hiring more women in their workforce.

 

Gabriel India Ltd - an auto parts company in Hosur - says that more than 20%
of the workers in its factories are women. The firm says the move makes
sense from a business point of view. "Our internal studies have shown that
attrition rates for women are lower," says Atul Jaggi, president and deputy
managing director of Gabriel India.

 

The company provides perks such as on-site accommodation, subsidised food
and several training programmes to attract more women workers.

 

"It doesn't cost more. These are basic facilities which any good
organisation should have," Mr Jaggi says.

 

Ms Lagun agrees. "Why should it be that for India's economy to grow, only
men have to work? We can also help," she says as she supervises a female
colleague who is putting the finishing touches on shock absorbers which will
be fitted on two-wheelers.

 

For Ms Lagun personally, the most exciting part of her job is that it gives
her a sense of independence .

 

"Sometimes when I am out with my friends, I spot a motorcycle fitted with
our auto parts. And I say, look, I have made it. It makes me happy and
proud," she says.-bbc

 

 

 

 

Briton pleads guilty in US to 2020 Twitter hack

A British national extradited to the US last month has pleaded guilty in New
York to a role in one of the biggest hacks in social media history.

 

The July 2020 Twitter hack affected over 130 accounts including those of
Barack Obama and Joe Biden.

 

Joseph James O'Connor, 23, known as PlugwalkJoe, pleaded guilty to hacking
charges carrying a total maximum sentence of over 70 years in prison.

 

The hacking was part of a large-scale Bitcoin scam.

 

O'Connor, who was extradited from Spain, hijacked numerous Twitter accounts
and sent out tweets asking followers to send Bitcoin to an account,
promising to double their money.

 

O'Connor was charged alongside three other men over the scam. US teenager
Graham Ivan Clark pleaded guilty in 2021. Nima Fazeli of Orlando, Florida,
and Mason Sheppard, of Bognor Regis in the UK, were charged with federal
crimes.

 

US Assistant Attorney-General Kenneth Polite Jr described in a statement
O'Connor's actions as "flagrant and malicious", saying he had "harassed,
threatened and extorted his victims, causing substantial emotional harm".

 

"Like many criminal actors, O'Connor tried to stay anonymous by using a
computer to hide behind stealth accounts and aliases from outside the United
States.

 

"But this plea shows that our investigators and prosecutors will identify,
locate, and bring to justice such criminals to ensure they face the
consequences for their crimes."

 

In 2020, an estimated 350 million Twitter users saw suspicious tweets from
official accounts of the platform's biggest users. Thousands fell for a
scam, trusting that a crypto giveaway was real.

 

Cyber experts agreed that the consequences of the Twitter hack could have
been far worse if O'Connor and other hackers had more sophisticated plans
than a get-rich-quick scheme.

 

Disinformation could have been spread to affect political discourse and
markets could have been moved by well-worded fake business announcements,
for example.

 

The hack showed how fragile Twitter's security was at the time. The
attackers telephoned a small number of Twitter employees with a believable
tale to convince them to hand over their internal login details - which
eventually granted the hackers access to Twitter's powerful administrative
tools.

 

Essentially, the hackers managed to use social engineering tricks more akin
to those of conmen than of high-level cyber criminals to get access to the
powerful internal control panel at the site.

 

It was, and still is, a hugely embarrassing moment in Twitter's troubled
history.

 

O'Connor's admission has not come as a shock though as there was a wealth of
evidence in the public domain thanks to the hackers making some bad mistakes
or being too loud in their celebrations in the aftermath of the hack.

 

O'Connor also pleaded guilty to other hacking crimes including gaining
access to a high-profile TikTok account.

 

He posted a video to that account where his own voice is recognisable and
threatened to release "sensitive, personal material" related to the owner of
the account to people who joined a Discord group.

 

The US justice department said he had also used technology to stalk a
minor.-bbc

 

 

 

 

Longer lorries to be allowed on Britain's roads

The government has approved the use of longer lorries on British roads,
saying it will make businesses more efficient and cut emissions.

 

It comes despite one campaign group warning the move could put pedestrians
and cyclists at risk.

 

Longer lorries can carry more goods in fewer trips but have a larger tail
swing, meaning their rear end covers a greater area when turning. They also
have extended blind spots.

 

But ministers insist they are safe.

 

Lorries up to 18.55m long - which is about 2.05m longer than the standard
size - have been trialled since 2011 and there are already around 3,000 in
use.

 

However, from 31 May any business in England, Scotland and Wales will be
permitted to use them.

 

The Department for Transport (DfT) said the vehicles would help businesses
be more productive. For example, bakery chain Greggs - which has used the
vehicles since 2013 - says it can carry 15% more goods than usual in a
longer trailer.

 

The move is set to result in £1.4bn of economic benefits and take one
standard-size trailer off the road for every 12 trips, the government said.

 

It estimates the vehicles will save 70,000 tonnes of carbon dioxide from
being released into the atmosphere over 11 years.

 

However, the Campaign for Better Transport said the change was was a "deeply
retrograde step" which will "do nothing to tackle carbon emissions or air
pollution".

 

Spokesman Norman Baker added that the bigger "tail swing" of the lorries
presented a "danger to other road users and pedestrians".

 

He added: "Rather than longer lorries, the government should be working to
ensure more freight is moved by rail - an efficient, safe and clean
alternative with just one freight train capable of removing up to 129
lorries from our roads."

 

A government-commissioned report published in July 2021 revealed that 58
people were injured in incidents involving longer lorries between 2012 and
2020.

 

The DfT said the vehicles had been involved in "around 61% fewer personal
injury collisions than conventional lorries".

 

Under the new rules, operators will be legally required to carry out risk
assessments and ensure they take appropriate routes.

 

The longer lorries will still have the same 44-tonne weight limit as those
using standard trailers.

 

However, a spokesman for the Road Haulage Association urged the government
to go further by increasing the permitted weight to 48 tonnes.

 

"This will be increasingly important when we roll out zero-emission trucks
to compensate for the increased weight from batteries," he said.-bbc

 

 

 

 

Ryanair signs $40bn deal for 300 Boeing aircraft

Ryanair has agreed a $40bn (£31bn) deal with Boeing that will see it
purchase up to 300 new aircraft over the next decade.

 

Half of the 737-MAX-10 order has been described as firm, with the remaining
being options.

 

The airline claims this is the largest order ever placed by an Irish company
for US manufactured goods.

 

Phased deliveries will start in 2027 and run until 2033, with half of the
new purchases set to replace older aircraft in the Ryanair fleet, boosting
efficiency and cutting emissions.

 

Ryanair Chief Executive Michael O'Leary and Boeing Chief Executive Dave
Calhoun sign a multibillion-dollar deal for as many as 300 Boeing jets at
Boeing headquarters in Arlington, Virginia,

 

 

Ryanair Chief Executive Michael O'Leary signed the multibillion-dollar deal
at Boeing headquarters in Arlington, Virginia, on Tuesday

 

The new aircraft, which have 228 seats, are to be used to meet Ryanair’s
traffic which it forecasts will grow by 80% and reach 300m passengers a year
by 2034.

 

The airline's chief executive Michael O’Leary described the deal as "the
ideal growth aircraft order for Ryanair, our passengers, our people and our
shareholders”.

 

"These new, fuel efficient, greener technology aircraft offer 21% more
seats, burn 20% less fuel and are 50% quieter than our B737-NGs," he said.

 

He added that the deal would enable Ryanair to create more than 10,000 new
high-paid jobs for pilots, cabin crew and engineers.

 

Given the size and scale of the transaction, it will be subject to
shareholder approval at Ryanair’s next annual general meeting.

 

'Landmark deal'

Boeing's president and chief executive, Dave Calhoun, said the
Boeing-Ryanair partnership is "one of the most productive in commercial
aviation history".

 

He said it enabled both companies to succeed and expanded affordable travel
for the public.

 

"Nearly a quarter century after our companies signed our first direct
airplane purchase, this landmark deal will further strengthen our
partnership," he added.

 

"We are committed to delivering for Ryanair and helping Europe’s largest
airline group achieve its goals by offering its customers the lowest fares
in Europe.”-bbc

 

 

 

John Lewis staff to vote on future plans as anger grows

The boss of John Lewis will face a vote of confidence on Wednesday, amid
growing staff anger at her leadership.

 

It comes after Dame Sharon White said she was considering selling a stake in
the retailer, meaning it would no longer fully owned by its employees.

 

John Lewis is seeking to revive growth after posting a huge loss last year
and suspending its staff bonus.

 

But as job cuts loom, employees may use the biannual vote - which is
non-binding - to push for change.

 

As well as owning a stake in the business, John Lewis staff - also known as
partners - have a voice in the way it is run.

 

They elect councillors who twice a year meet to scrutinise the firm's
performance and pass a vote of confidence in its leadership.

 

Wednesday's vote will take place during the all-day meeting at the Odney
Club, a John Lewis-owned retreat near Maidenhead in Berkshire.

 

The ballot comes at an awkward time for Dame Sharon who became chair in 2020
and is trying to turn the chain's fortunes around.

 

John Lewis has been struggling to compete with High Street rivals such as
Amazon and Primark, while its supermarket chain Waitrose has underperformed
Tesco and Aldi during the cost of living crisis.

 

The partnership posted its first ever annual loss of £517m in 2020 and has
since announced a series of store closures. It also plans to cut £900m of
costs by January 2026 and job cuts are likely.

 

The retailer sparked anger in March when it told its around 85,000 partners
that they would have to go without a bonus for the second time in three
years.

 

According to a survey of under 1,000 staff at the time, some 85% said they
were not confident in the company's ability to deliver its strategy.

 

Dame Sharon has suggested ways the partnership might revive growth,
including by developing flats above John Lewis shops.

 

She has also indicated that she would consider raising funds by selling a
stake in the business, sparking a negative reaction from retail experts.

 

In March, brand expert Mary Portas wrote an open letter to the partnership,
saying John Lewis was one of the most "valued, loved, and trusted retail
brands" in the UK but that it had "let go" of its soul.

 

Meanwhile Andy Street, who was managing director of the retailer from 2007
to 2016, said the change would be a "tragedy" if it occurred.

 

John Lewis has said its partnership model "will always be the heart of our
business" and there is no guarantee it will seek outside investment.

 

However, on Wednesday Dame Sharon and other executives will be quizzed by
councillors over the retailer's performance as part of the biannual meeting.

 

The councillors will then vote on two motions - one on whether the council
has confidence in the progress of the partnership under the chairman's
leadership over the past year, and the other on whether it can support the
chairman to take the business forward.

 

Members can answer on a scale from "strongly agree" to "strongly disagree",
opening the door to a potential rebellion.

 

The John Lewis Partnership does have the power to remove the chairwoman by
tabling a resolution on the partnership's constitution, but this outcome is
considered unlikely.-bbc

 

 

 

How could the debt ceiling crisis end? Here is what Biden and McCarthy want

This is a critical week for negotiations on raising the debt ceiling, as the
US may default as soon as 1 June if the limit is not raised by Congress
before then.

 

On Tuesday, Joe Biden and the House and Senate leaders of both parties met
in the White House to discuss this impending economic crisis of their own
making.

 

After the meeting the president asserted that "default is not an option".
Both sides remain far apart, however. The only thing they seemed to agree on
was that they would continue to talk.

 

As early as next month, the US government could reach the legal cap on the
national debt. This means that the federal treasury will be unable to borrow
additional funds. It will exhaust the money it has to spend on everything
from existing debt payments to government salaries and retirement payments
to the elderly.

 

Congress could vote to raise the debt limit at any point, but Republicans in
the legislature only want to do so if they can extract policy concessions
from Mr Biden and the Democrats. The president and his allies, however, have
so far refused to engage in what they consider to be a negotiation conducted
under the threat of economic ruin.

 

The meeting itself is already somewhat of a concession for Mr Biden, as he
had up until now rejected discussing Republican proposals. Before this, he
had insisted that spending and policy negotiations be conducted separately
from the debt-limit situation.

 

A simple guide to US debt ceiling crisis

This sets up a high-stakes encounter that is fraught with peril, the
greatest of which is the potential that the US will actually hit its debt
limit and cause a global economic catastrophe. Short of that, however, there
are other risks - and rewards - for both sides. Here's a look at them.

 

Biden and the Democrats

What do they want?

 

Debt-limit brinksmanship is a game Democrats don't play. They haven't
threatened a default, for instance, if the Republicans refuse to raise the
minimum wage, expand government-funded healthcare or raise taxes on the
wealthy - all party priorities.

 

They don't want Republican to play the game, either.

 

It's been more than a decade since congressional Republicans first used
raising the legal cap on the national debt as a means of extracting policy
concessions from a recalcitrant Democratic president. Democrats view such a
tactic as extremist brinksmanship. Many, including high-ranking Biden
administration officials who were around for the first debt-limit showdown,
want to put an end to the practice once and for all.

 

They are calling for a "clean" measure to raise the debt limit - that is,
one that is not tied to any other legislative measures. They claim their
opponents only care about the national debt when Democrats control the White
House. As evidence, they point to the three times the debt limit was raised
or temporarily waived during the Trump administration, and the hundreds of
billions added to the national debt from Republican-backed spending and tax
cuts.

 

What are the risks?

 

The closer the nation approaches to the edge of the debt limit brink, the
more skittish US and global financial markets may become. The last time this
happened, the US saw its credit rating downgraded and interest rates on its
existing debt go up. Even if the nation avoids tumbling over the fiscal
cliff, the US economy could suffer.

 

The political consequences for this are difficult to predict. One recent
poll shows that opinion on this is evenly divided - while a third of the
public would blame Mr Biden in such a scenario, a third would blame
Republicans and a third is uncertain. And for the president and Democrats in
Congress seeking re-election next year, that uncertainty is the stuff of
many sleepless nights.

 

If the economy is wrecked in this standoff, Democrats - as the incumbents -
have more to lose. Because they are in power, they are likely to be blamed
when unemployment rises and the stock market tanks. For many Democrats, the
cost of defeat at the ballot box is higher than that of any short-term
concessions to Republicans. If their party regains unified control of
Congress and the presidency next year, these could be reversed, they argue.

 

Some Democrats in Congress are calling for Mr Biden to yield ground to
Republicans. If the party breaks rank, Mr Biden could be forced to back
down, angering his party's debt-limit hard-liners. It would make him appear
weak at a time some in his party are already worried about his ability to
hold up as his party's standard-bearer next year.

 

What do they want?

 

Republicans want to roll back the expansion of federal programmes backed by
Mr Biden and the Democrats. They want to limit federal spending - or, at
least, spending on Democratic priorities. With control of one chamber of
Congress, their ability to enact legislation to achieve these ends through
the traditional means of negotiation and compromise is limited.

 

The debt limit gives Republicans in the House of Representatives a method by
which to extract larger concessions. For instance, House Republicans
unanimously passed legislation over unified Democratic opposition two weeks
ago that would tie an increase in the debt limit to budget cuts and spending
caps. It has no hope of passing the Senate.

 

Getting Democrats to agree to even a few of these legislative actions would
be a victory for Republicans. However, some hard-liners in the party view
the package as the minimum they would accept for a debt-limit increase, not
a starting point for negotiations.

 

What are the risks?

 

Republicans are playing a dangerous game. Like Democrats, they risk an
economic crisis that makes their party the target of public blame and the
electoral consequences that go along with it.

 

While Republicans have fewer incumbents to defend at the ballot box next
year, the party's margin in the House of Representatives is exceedingly
narrow. Even a modest swing in the mood of the electorate could put the
party back in the minority in the chamber. Senate Republicans sense a path
back to the majority next year, but one misstep could change that.

 

If the public views Republicans as a party of extremists incapable of
governing, it would play directly into one of the central messages of Mr
Biden's re-election campaign.

 

The debt-limit brinksmanship also presents particular challenges for Speaker
of the House Kevin McCarthy. His grip on power in that chamber is tenuous.
If he holds the line in negotiations, he could anger centrists eyeing
difficult re-election battles. If he negotiates a compromise with Democrats,
conservative hard-liners in chamber - ones who only grudgingly supported his
speakership - could vote to remove him from his post.

 

-bbc

 

 

Tesco chairman denies inappropriate touching

Tesco's chairman has strongly denied claims that he touched women's bottoms
on two separate occasions.

 

A report in the Guardian newspaper alleges that John Allan touched a Tesco
employee at the supermarket giant's shareholder meeting last year.

 

It also claims Mr Allan, who is the former president of the CBI, "grabbed" a
woman at one of its events in 2019.

 

Mr Allan said that the claims are "simply untrue" and Tesco said it has not
received any complaints.

 

The supermarket giant - which Mr Allan has chaired for eight years - told
the BBC that in relation to his conduct at Tesco's annual general meeting
last year "it has received no complaints or concerns formally or informally,
including through our confidential Protector Line service".

 

It said it noted that Mr Allan strongly denies the allegation and his
conduct has "never been the subject of a complaint during his tenure as
chair of Tesco".

 

Tesco added: "This is a serious allegation, and if anyone has any concerns
or information, we would ask them to share those with us through any of our
reporting channels including through our confidential Protector Line, so we
can investigate."

 

The Guardian also claims that Mr Allan commented on a CBI employee's dress
and bottom in 2021 - an incident that he said he does not recall.

 

He does, however, admit to making a comment to a female CBI worker in late
2019 about a dress suiting her figure.

 

Mr Allan said he was "mortified after making the comment in 2019" and
immediately apologised. A spokesperson for Mr Allan said: "The person
concerned agreed the matter was closed and no further action was taken."

 

What counts as sexual harassment at work?

Business group CBI is finished, says City boss

The spokesperson added: "Regarding the other claims, they are simply
untrue."

 

Mr Allan was president of the business lobby group the CBI between 2018 and
2020, then spent just over a year as vice president.

 

The allegations have emerged as the CBI fights for survival following claims
of sexual misconduct at the lobby group, including two allegations of rape.
The City of London police is investigating the allegations.

 

Fox Williams, a law firm, conducted an investigation into the claims and the
CBI admitted that it had hired "culturally toxic" staff and failed to fire
people who sexually harassed female colleagues.

 

It has since fired a number of people.

 

A spokesperson for Mr Allan said that he requested that Fox Williams
investigate the claims against him and that the law firm decided not to.

 

However, a spokesperson for Fox Williams said this was incorrect.

 

It said that once the City of London police opened inquiries into alleged
sexual misconduct at the CBI "we were not permitted to speak to all
individuals involved in the allegations".

 

The scope of Fox Williams' investigation was therefore limited to whether
the leadership of the CBI was aware of claims of misconduct, what steps it
took or failed to take to address them and what lessons could be learnt.

 

Following the conclusion of Fox Williams' investigation, a spokesman for the
law firm said: "Mr Allan was provided with the opportunity to give an
account to the CBI which, as far as we are aware, he has chosen not to do."

 

In response, a spokesman for Mr Allan said that on 4 April his lawyers told
Fox Williams he wanted it to investigate the allegation against him.

 

He said Fox Williams was contacted again on 21 April by Mr Allan's lawyers
to explain he was available for interview.

 

"Fox Williams chose not to meet him," the spokesman said. "Instead, on 23
April, Fox Williams offered to forward a statement from Mr Allan to the CBI
although confirmed that their investigation had already concluded."

 

'Secure whistleblowing policies'

Commenting on the allegations against John Allan in the Guardian, a CBI
spokesperson said: "Where an individual is identified as being a victim,
witness or perpetrator of a potential criminal offence, with the agreement
of the City of London Police, they would be referred to the City of London
Police to continue the investigation."

 

It added that Fox Williams "did not investigate the matter themselves".

 

Mr Allan is also chairman of Barratt Developments, the housebuilder. The
company said it had "clear and secure whistleblowing policies in place and
have never been made aware of any concerns or allegations in relation to
John Allan during his time at Barratt".

 

A large number of companies have either quit the CBI or suspended their
membership following separate allegations of misconduct and rape against
employees at the lobby which emerged in April.

 

Tesco paused its membership, stating: "We are deeply concerned by these very
serious allegations and we have paused our membership of the CBI with
immediate effect."

 

During his time as chairman of Tesco, Mr Allan drew criticism when in 2017
he suggested that white men were becoming "endangered species" on company
boards.

 

He said: "If you are a white male - tough - you are an endangered species
and you are going to have to work twice as hard."

 

He later said that his comments were meant to be "humorous".-bbc

 

 

 

Thames, Yorkshire and South West Water bosses refuse bonuses over sewage
spill

Bosses at three of the UK's water companies have decided not to take their
annual bonuses after widespread public criticism over sewage pollution.

 

Thames Water's Sarah Bentley said it did not "feel right" to take the bonus,
along with South West Water's Susan Davy and Yorkshire Water's Nicola Shaw.

 

The BBC has contacted the eight other major water companies to see if they
will follow suit.

 

Campaigners have called for all UK water firm CEOs to waive their bonuses.

 

Ms Bentley received a £496,000 bonus last year while Ms Davy was handed
£522,000. Ms Shaw has only recently joined Yorkshire Water but last year it
paid out £878,000 in bonuses to directors.

 

Thames Water said its chief financial officer Alastair Cochran would also
decline his bonus.

 

In 2022 the Liberal Democrats urged the British government to ban bonuses
for water company bosses until sewage offences stopped.

 

The party said its analysis showed firms in England had paid executives
nearly £27m in bonuses since 2020.

 

It said the numbers were "obscene" given 1,000 sewage spills a day were
recorded in 2021.

 

Those figures have only got worse - Thames Water was last year named as
among the worst performing companies for polluting waterways by regulator
Ofwat.

 

In March a House of Lords committee said water bosses should not receive
bonuses while targets were being missed and the environment was being
polluted.

 

It also criticised Ofwat, for failing to ensure companies had invested
enough in infrastructure.

 

The government has said it is making water companies invest £56m to
modernise infrastructure, much of which is decades old.

 

Thames Water said it was spending £1.6bn to modernise its sewage
infrastructure and expand its team of leak engineers.

 

"Nevertheless, the turnaround plan is not yet where I want it to be...
against this backdrop it simply doesn't feel right to take my bonus this
year," Ms Bentley said.

 

But the pressure is on Thames Water. In March it was told by the Environment
Agency (EA) to fix water leaks as part of its plans to tackle drought
problems.

 

South West Water has faced similar levels of criticism. Last month it was
fined a record amount of more than £2.1m after it admitted causing pollution
in Devon and Cornwall.

 

And in November it was told to "urgently address" the impact of waste water
discharges by Cornwall Council by curbing bonuses and dividends rather than
increasing costs to consumers.

 

The company said the money Ms Davy would have received would instead go
directly to customers via a shareholder scheme or be taken as a credit on
their bill.

 

Annual reports from Yorkshire Water show Ms Shaw could have received up to
£800,000 if the company met its performance targets for the year.

 

"I understand the strength of feeling about the issues linked to river
health which is why I've decided that this year I won't be accepting a
bonus," she said. "This is the right thing to do," she added.

 

'Openness and transparency'

The move by the three chief executives has been welcomed by the Consumer
Council for Water.

 

Chief executive Emma Clancy said: "Bonuses add to people's current
frustration with the water industry and they would like much more openness
and transparency on this issue."

 

But the Clean Rivers Trust said a nationwide overhaul of the sewage system
was needed to cope with the growing population.

 

"Sewers that are discharging are having to take far more sewage as house
building continues and the system can't cope," director Harvey Wood said.
"The sewer system in this country is shot."-bbc

 

 

 

Sainsbury's cuts own-brand bread and butter prices

Sainsbury's has cut the price of its own-brand butter and bread after
criticism over high supermarket prices.

 

The supermarket is reducing its salted and unsalted butter from £1.99 to
£1.89 for 250g packets from Tuesday.

 

Wholesale food prices have been falling globally, but UK food inflation is
at its highest for 45 years.

 

The move by Sainsbury's comes after criticism of supermarkets for not
passing on wholesale price falls quickly enough.

 

Inflation was expected to fall below 10% last month, but soaring food prices
meant it fell by less than expected.

 

Last month the Office for National Statistics - which measures the rate of
prices increases - told the BBC you would expect to see global food price
falls reflected in supermarkets "but we're not there yet".

 

And in March, the union Unite accused some retailers of "fuelling inflation
by excessive profiteering".

 

In April industry body the British Retail Consortium said there is a three
to nine-month lag to see wholesale price falls reflected in shops, and
promised prices would come down over the next few months.

 

Tesco, Asda, Morrison, Aldi and Lidl have been approached for comment.

 

Sainsbury's said it was cutting the price of its some of its own-brand bread
to 75p from 85p.

 

The supermarket said it was able to lower some of its bread and butter
prices due to wholesale prices beginning to fall.

 

"Whenever we are paying less for the products we buy from our suppliers, we
will pass those savings on to customers," the UK's second-largest
supermarket chain said.

 

The war in Ukraine has driven up food prices around the world, but the UK
has also faced its own problems too - from Brexit red tape to labour
shortages.

 

However, as commodity prices have started to fall, supermarkets have started
to cut prices on some products - but not others.

 

Some of the earliest price falls have been in milk, with Aldi, Lidl and Asda
recently following Sainsbury's and Tesco in cutting the price of milk by at
least 5p.

 

Last summer, butter brand Lurpak said it had put prices up so dairy farmers
would get a fair deal.

 

Some shoppers had expressed shock at rapidly rising prices, with a 750g tub
of Lurpak priced at £7.25 in Sainsbury's in July 2022.

 

Farmers have been under pressure as milk prices have dropped, with one dairy
farmer in Shropshire recently saying he is on a "knife-edge".

 

Sainsbury's said its price drop would not have an impact on how much it paid
farmers.-bbc

 

 

 

Skipton launches deposit-free mortgage aimed at renters

A deposit-free mortgage specifically aimed at people currently renting has
been launched by a UK building society.

 

While a handful of other no-deposit deals are available, they all need the
financial backing of family or friends.

 

Skipton Building Society says while its deal requires 12 months of on-time
rental payments and a good credit history, it does not need a guarantor.

 

However, at 5.49% the interest rate is more expensive than the average
five-year fix of 5%.

 

Generation Rent, which campaigns on behalf of private renters, says the
shortage of affordable properties within the budget of first-time buyers is
still the main stumbling block for those struggling to get on the property
ladder.

 

"It's not necessarily going to help all the people who are looking to buy a
first-time home if there aren't more houses available to buy," says Will
Barber Taylor from Generation Rent.

 

Currently there are 15 other zero-deposit products on the market, according
to financial data firm Moneyfacts, accounting for just under 0.3% of the UK
market.

 

First-time buyers are facing an uphill battle. Rapidly rising rents have
made saving for a deposit increasingly difficult, at the same time that the
government's flagship Help to Buy scheme, aimed at helping first-time
buyers, is no longer open.

 

What is happening to house prices?

What are your rights as a tenant when you're renting?

The Skipton, which is the UK's fourth biggest building society, says it
recognised a "gap in the market".

 

Stuart Haire, the society's chief executive, told the BBC that "until now
there has been no solution for them [renters] to buy a property due to a
lack of savings or access to family wealth".

 

David is renting with his partner and new baby in North Yorkshire. "It's
getting that deposit together that's really difficult with rent prices,"
admits David.

 

"If I can prove I've been paying rent for the last 10 years of my life why
can't I have a mortgage."

 

The government's Help to Buy scheme saw the Treasury lending homebuyers
between 5% and 20% of the cost of a newly-built home, and up to 40% in
London.

 

The scheme closed to new applicants in October 2022, but there are rumours
that something along similar lines could be re-introduced.

 

Your lender must then treat you fairly by considering any requests about
changing how you pay, perhaps with lower repayments for a short period

Any arrangement you come to will be reflected on your credit file -
affecting your ability to borrow money in the future

 

.

But a rise in zero-deposit mortgages may not be welcomed by everyone, as
riskier mortgages with a high loan to value were a root cause of the 2008
financial crash.

 

Mortgage expert Andrew Montlake says then lenders were just interested in
volume rather than quality.

 

"The world is very different now," he says, and adds that his opinion has
changed over the past 15 years, as long as the 100% loan value mortgages are
"underwritten sensibly".-bbc

 

 

 

Malawi: Chakwera Lures Kenya's Largest Juice Maker to Invest in Malawi

President Dr. Lazarus McCarthy Chakwera has asked Kenya's largest juice
maker, Kimani Rugendo, to consider investing in Malawi where fruits are
readily available to serve as his raw material for his business.

 

Chakwera made the sentiments when he met Rugendo in Kenya on Tuesday on his
way back from the United Kingdom (UK) where he attended the coronation of
King Charles III.

 

"I have urged Mr Rugendo to consider Malawi as his next investment
destination because we have a large contingent of fruit farmers across the
country whose abundant yield is a readily-available raw material in the
agro-processing operations. I am glad that Mr Rugendo has assured me to
explore where within our market can his venture make a positive difference.
He is also considering bringing on board other Kenyan private sector players
to follow suit," wrote the Malawi leader on his Facebook page.

 

Rugendo is founder and chairman of Kevian Kenya Limited, which is one of the
largest juice-makers in Eastern Africa.

 

During his meeting with President Chakwera, Rugendo was accompanied to the
meeting by anti-corruption advocate Professor PLO Lumumba who recently was a
keynote speaker at the National Anti-Corruption Symposium in Blantyre.

 

Meanwhile, Chakwera has assured the investors that his administration will
continue putting in place investment-friendly policies to create a conducive
environment for business growth, increased exports leading to more forex,
job creation and better livelihoods for Malawians.

 

-Nyasa Times.

 

 

 

 

Kenya: Traders to Fully Switch to Electronic Invoices Starting June 1

Nairobi — All VAT-registered businesses will be required to only accept
electronic invoices from registered taxpayers starting June 1 2023.

 

According to a statement from the KRA Commissioner General, the move is in
compliance with the VAT (Electronic Tax Invoice) Regulations 2020 for
purposes of claiming input tax and processing of refunds.

 

The Commissioner General noted that VAT-registered taxpayers who will not
have complied with the requirement by June 1 will not be issued with tax
compliance certificates unless they comply.

 

"VAT refunds shall be only processed and paid for taxpayers who are
compliant with the Regulations," read the statement.

 

 

This requirement exempts registered non-resident suppliers of digital
services.

 

The non-resident digital service suppliers are however required to issue
invoices or receipts showing the value of the supply and tax charged.

 

The deadline comes as the Kenya Revenue Authority(KRA) continues with the
rollout of the electronic Tax Invoice Management System(eTIMS) which seeks
to ensure that all VAT-registered taxpayers generate electronic tax invoices
that are transmitted to KRA on real time basis.

 

Through integration with eTIMS, businesses will benefit from real-time
invoice transmission providing accuracy in tax invoice declarations and
reconciliation between filed returns and payments.

 

KRA is banking on the platform to fully address the issue of missing trader
invoices and the issue of fictitious claims as all transactions will be
visible to the taxman.

 

The taxman seeks to collect an additional Sh400billion in VAT from the
platform.

 

VAT collections for the financial year ended June 2022 amounted to Sh523.10
billion, an equivalent of 27.72 per cent of the Sh1.92 trillion ordinary
revenue.

 

-Capital FM.

 

 

 

Namibia: 19 Municipalities, Councils to Face Load-Shedding

At least 19 municipalities, town and village councils, and a regional
council in the southern part of the country, will have to pay their accounts
or experience load-shedding from 5 June, Namibia's national power utility
announced on Tuesday.

 

The Namibia Power Corporation Limited (NamPower) issued a statement
notifying the public that these entities owe the company over N$1 billion.

 

The notice, published in a local newspaper, noted that a significant portion
of the arrears is long overdue and has concerned NamPower for a considerable
time.

 

The affected areas include the City of Windhoek, Groot Aub, Brakwater,
Rehoboth, Mariental, Karasburg, Gobabis, Aranos, Lüderitz, Stampriet,
Gibeon, Tses, Bethanie, Witvlei, and Aroab, among others.

 

Those who do not pay their outstanding overdue amounts before the due date
will face power outages resulting in significant consequences, said
NamPower.

 

The Namibian recently reported that the power utility's operations are
running at a loss of N$2,3 billion. This means the N$6,5 billion income the
company earns from selling electricity is not sufficient to cover all its
expenses.

 

-Namibian.

 

 

 

Botswana Has Always Driven a Hard Bargain With De Beers

Botswana is not following a trend of African state negotiating more
aggressively with corporations. It has long set this trend.

 

This article is a response to "Why is Botswana rethinking its deal with De
Beers?" by Marisa Lourenço, published on 25 April 2023.

 

Diamonds have been the driver of Botswana's economic growth since the 1970s.
Crucially, the sector has been dominated by a joint venture, Debswana,
between the Government of Botswana (GOB) and De Beers, which still accounts
for over 95% of rough diamond production. However, the current negotiations
surround the terms which govern the sale of rough diamonds, and it is
reported that the GoB wants to increase the share of diamonds they can sell
outside of De Beers' sales channels, among other issues. Thus,
unsurprisingly, these negotiations have generated significant interest from
many commentators and publications. Marisa Lourenço recently argued in these
pages that the GoB may sever its relationship with De Beers if the new
negotiated terms do not improve Botswana's position.

 

 

Lourenço posits that the GoB, facing social discontent over high
unemployment and inequality and emboldened by rough diamond sales growth
following Russia's invasion of Ukraine, are rethinking their relationship
with De Beers. Further, she argues that the projected decline in future
diamond production, a crucial source of government revenue, underpins the
GoB's "desire to derive more value from the mineral".

 

She draws two important lessons from her analysis. Firstly, she argues that
Botswana has not avoided the resource curse, due to its inability to "reduce
its reliance on the mining sector". Secondly, she argues that it is "no
longer business as usual", as African states are more confident in their
negotiations with powerful mining companies. Botswana is likened to other
African countries, such as Congo-Kinshasa, which are taking a harder line in
their negotiations. Within this analysis, she argues, contemporary political
economy dynamics are driving changes in behaviour.

 

 

However, a historical approach to the study of this relationship identifies
different drivers and thus different lessons. Firstly, it is incorrect to
understand the GoB's aggressive negotiations as a new development grounded
primarily in contemporary political economy dynamics, such as discontent
with unemployment. Discontent over social issues (such as inequality and
unemployment) have been a persistent feature political competition in
Botswana.

 

More importantly, effective negotiating has been the hallmark of all the
GoB's approaches to the negotiations surrounding the renewal of De Beers'
licenses. Examples include the government's increase in their ownership
stake in Debswana to 50% in 1975. This uniquely successful arrangement has
generated significant revenue for the state, and it was instituted at a time
when Botswana was mining fewer diamonds (in carats) per year than the Congo
(Zaire) and South Africa, neither of which entered similar agreements, as is
illustrated in Table 1. Or in 2006, when it was agreed that all of
Debswana's production will be sorted and valued in Botswana (as opposed to
London) and significant support extended to developing local cutting and
polishing industries. In 2011 the state forced De Beers to relocate the De
Beers Global Sight Holder Services (DBGSS) - where diamond sales happen -
from London to Gaborone, which it did in 2013. This fundamentally altered
the global diamond value chain.

 

 

Table 1: Number of Carats Mined in a Selection of African Countries

 

Year1976197719781979

 

Carats Mined a YearBotswana2,3842,6912,7854,394

 

Ghana2,2831,9471,4231,253

 

Namibia1,6942,0011,8981,653

 

South Africa7,0237,6437,7278,384

 

Zaire11,82111,21411,2438,734

 

Source: US Bureau of Mines Minerals Yearbook

 

De Beers has long realised and even publicly admitted the strength of states
in the region, stating almost a decade ago in 2014 (and knowing much
earlier) that:

 

"The shift of cutting and polishing operations towards low-cost centres in
India and the Far East is likely to have reached its peak...there will be a
continued push for in-country beneficiations...Over recent years, producing
countries such as Botswana, South Africa and Namibia have been striving for
increased domestic beneficiation, leading to some cutting and polishing jobs
migrating to those countries."

 

The current negotiations are thus not a new form of engaging with De Beers.
While the public posture of President Masisi may signal a change in
political direction, this moment arises not from current political economy
features, but instead a consistent state-driven project to transform
Botswana into a global diamond hub. Public statements may represent a
stylistic or rhetorical shift, but they do not amount to a substantive shift
in policy or strategy.

 

Similarly, this historical account undermines the argument that Botswana
suffers from the resource curse. As with any widely used framework, the
resource curse has been deployed in a number of different forms, but it
broadly describes the "adverse effects of a country's natural resource
wealth on its economic, social, or political well-being". These involve
political economic dynamics such as the proliferation of growth-inhibiting
rent-seeking or the undermining of democratic institutions. Similarly,
resource booms have undermined other sectors, such as agriculture, either by
overvaluing currencies or drawing resources (labour or capital) away from
other sectors. This leaves countries stuck in cycles of low value-added
production (ie. solely extraction).

 

Extractive industries accounting for a large percentage of GDP or exports
may be characteristic of countries affected by resource curse dynamics, but
it is not definitive proof. A deeper analysis shows that the GoB has been
able to drive economic activity by forcing De Beers to shift higher-value
activities (such as cutting and polishing and sales) to Botswana. Similarly,
it has used fiscal and monetary policy to protect against macro-economic
side effects of diamond exports. Lastly, Botswana's demanding fiscal and
royalty regime has been important in allowing the state to expand state
employment and service delivery as well as support the growth we have seen
in Botswana's services sector and public resources. The diamond industry has
been used to support growth in other industries.

 

If many African states are negotiating more aggressively with mining
transnational corporations - and I agree that they are - it is not that
Botswana is a member of this trend. Rather, it is that other countries are
trending towards Botswana. Because skilled negotiating has in fact been
"business as usual" in Botswana.

 

Jorich Johann Loubser is a South African PhD student in International
Development at the London School of Economics. His research investigates the
diverse political economies that surround relationships between states in
Southern Africa and transnational mining companies. He has previously
studied at the Universities of Cape Town and Oxford. He hopes to one day
work on the intersection of academia and policy-making in Southern Africa.

 

Read the original of this report, including embedded links and
illustrations, on the African Arguments site.

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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

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

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

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

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

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

Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

Africa Day

 

May 25

 


 

Heroes’ Day

 

Aug 14

 


 

Defence Forces Day

 

Aug 15

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


CBZH

GetBucks

EcoCash

 


TSL

Econet

Turnall

 


First Capital Bank

ZBFH

Fidelity

 


Zimplow

FMHL

 

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


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

 


 

 


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

 


 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230510/3a270d0d/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230510/3a270d0d/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 799725 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230510/3a270d0d/attachment-0004.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image006.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230510/3a270d0d/attachment-0005.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65559 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230510/3a270d0d/attachment-0001.obj>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image009.jpg
Type: image/jpeg
Size: 27546 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230510/3a270d0d/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image010.jpg
Type: image/jpeg
Size: 55392 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230510/3a270d0d/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image011.jpg
Type: image/jpeg
Size: 29361 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230510/3a270d0d/attachment-0005.jpg>