Major International Business Headlines Brief::: 24 May 2023

[Bulls n Bears]

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Major International Business Headlines Brief::: 24 May 2023 

 


 

 


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

 


 

 


 

ü  Kenya: Total, Africa Oil Quit Kenya Oil Project

ü  Ethiopia: Social Protection System Vital to Help Ensure Peace, National
Unity in Ethiopia - World Bank

ü  Tanzania: Dar Port Excels in World Bank Rankings

ü  South Africa: Load Shedding to Continue Beyond Christmas

ü  Ghana: MPC Maintains Policy Rate of 29.5 Percent.... Cites Fall in Local,
Global Inflation

ü  Kenya: Research Reveals Most SME's Are Women, Youth-Owned

ü  Ghana: Include Tree Planting Clause in Road Construction Contracts ·green
Republic Project Convener

ü  Africa: Aliko Dangote Puts Life Into the 'Clay Feet' of the Giant of
Africa

ü  Ghana: No Funds for DACF for 2yrs... Finance Ministry Fails to Transfer 5
Percent Oil Revenue

ü  Ocp Group Finalizes The Acquisition Of 50% Stake In Globalfeed S.L.

ü  Ghana to Host 30th Annual Meeting, Anniversary of Afreximbank

ü  Kenya: Bread Prices Rise Sh10 on Increased Input Costs

ü  Nigerian Petroleum Agency to Begin Licensing Enforcement By June

ü  Nigeria: $21bn Revenue, 100,000 Jobs Coming From Our Refinery - Aliko
Dangote

 


 

 


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

on Kenya: Total, Africa Oil Quit Kenya Oil Project

Nairobi — Total and Africa Oil have quit Project Oil Kenya in Turkana
County.

 

Tullow Oil plc, a global independent oil and gas exploration and production
firm, will now fully acquire the project.

 

The 100 percent equity takeover is now awaiting approval from the
government.

 

Tullow Kenya BV Managing Director Madhan Srinivasan disclosed that the firm
is engaging strategic partners who have expressed an interest in the project
based on its economic viability.

 

"Project Oil Kenya is a low-cost development project that has the potential
to unlock material value. Prospective strategic partners remain engaged, and
detailed farm-out discussions continue with a number of companies,"
Srinivasan said, adding the firm's commitment to progressing the development
of the South Lokichar basin project.

 

 

A communiqué from Tullow indicated that the firm has been informed by its
two minority partners of their intention to issue notices of withdrawal from
blocks 10BB, 13T, and 10BA in the South Lokichar Basin for differing
internal strategic reasons.

 

"As a result, Tullow's working interest in these blocks will increase from
50% to 100%. The Board considers that owning 100% of the project creates
more optionality, gives Tullow more flexibility in the ongoing process to
secure strategic partners, creates a simpler Joint Venture Partnership and
streamlines project delivery," Srinivasan added.

 

He said the project progress continues, and the updated Field Development
Plan (FDP) was submitted to the Kenyan regulator, Energy and Petroleum
Regulatory Authority (EPRA), in March 2023 and is now under review by EPRA.

 

 

Tullow stated that it will continue to work with the government of Kenya and
EPRA to get the FDP approved.

 

Following the withdrawal of the minority partners, Tullow's net Project 2C
contingent resources are expected to increase from 231 mmboe to 461 mmboe,
taking the group's total contingent resources from 605 mmboe to 836 mmboe.

 

"Whilst introducing strategic partners has taken longer than expected,
Tullow remains focused on securing strategic partners this year." the Tullow
communique noted.

 

The Programme Based Budget of the National Government of Kenya for the year
ending June 30, 2024, published last month by the National Treasury,
indicates a Sh651.2 million budgetary allocation for the State Department
for Petroleum geared at advancing Project Oil Kenya.

 

The document also indicated that finalizing the FDP process is a high
priority within the programme.

 

-Capital FM.

 

 

 

 

Ethiopia: Social Protection System Vital to Help Ensure Peace, National
Unity in Ethiopia - World Bank

Addis Ababa — The implementation of social protection programs in Ethiopia
plays vital role to sustaining peace and stability as well as consolidating
national unity in the country, World Bank Country Director in Ethiopia,
Ousmane Dione said.

 

The Country Director made the remark today during the opening of the two-day
high-level national social protection conference organized in Addis Ababa
under the theme "Social Protection for National Building in Ethiopia."

 

Speaking at the conference, Dione said that the role of social protection in
building resilience and social cohesion is of significance for Ethiopia.

 

According to him, social protection can contribute to sustaining peace and
stability and consolidating national unity, which is utmost important for
Ethiopia to stand with the task we have for post conflict rehabilitation and
reconstruction ahead of us.

 

 

Noting social protection should be a priority for nation building he said,
adding as it establishes a direct connection between individual and
governments to enhancing social contracts.

 

Moreover, he elaborated that social protection can contribute to
peace-building in post conflict societies by strengthening social cohesion,
defusing tension and grievances, and helping prevent social unrest and
conflicts.

 

He described that studies that have examined the relationship between social
transfer and civil unrest have shown how redistributive social protection
transfer, represent an effective cost efficient method in reducing civil
unrest and maintaining stability.

 

Social Protection is a vehicle to respond to additional vulnerabilities and
poverty created by conflict, stressing conflicts have resulted in
significant socio economic challenges to millions of Ethiopians.

 

"This means that the number of people that require Social Protection
Services has gone up significantly in recent years, with some adaptation,
existing social protection schemes have the potential to address conflict
and risk vulnerability, food insecurity and loss of livelihoods," he added.

 

Hence he said "it is important to build back better by investing in adaptive
and resilient social protection system first to fit post conflict setting."

 

The government of Ethiopia has initiated and is implementing different
flagship programs in collaboration with development partners, including the
World Bank.

 

UNICEF Country Representative, Aboubacar Kampo said on his part applauded
the government of Ethiopia for its dedication to providing a social
protection system to protect the poor and vulnerable.

 

Social protections through innovative approaches and partnerships, not only
plays key role in addressing vulnerabilities, it also can empower
communities and individuals to invest in local solutions, he stated.

 

The representative encouraged all to continue strengthening all elements of
the social protection systems to enable job creation, productivity and
overall growth and development.

 

He reaffirmed that UNICEF is committed to supporting the government to help
boost communities economically and the nations at large.

 

The two day conference aims at enhancing awareness about the role of social
protection in contributing to sustainable development, social cohesion and
nation building.

 

-ENA.

 

 

 

Tanzania: Dar Port Excels in World Bank Rankings

THE Dar es Salaam Port has climbed up by 49 places in the World Bank's
latest ranking on the most efficient ports globally.

 

Container Port Performance Index 2022 indicates that Tanzania's main sea
gateway recorded improvement from the 2021 ranking to stand at position 312
from 361 previously.

 

The ranking places the Dar es Salaam Port ahead of Mombasa Port, which is at
326th position out of the 348 ports worldwide that were assessed.

 

Since the government started putting efforts to improve the Dar es Salaam
Port's infrastructures and expansion through the Dar es Salaam Maritime
Gateway Programme (DMGP), the port's efficiency has increased significantly.

 

The country's port industry has enjoyed a period of steady growth in terms
of infrastructure development and acquisition of modern equipment and
technologies thanks to massive investment by the sixth-phase government
towards improving the sector, which is the backbone of Tanzania's economy.

 

 

It may be only two years since she took the oath of office to become
Tanzania's sixth president, but Dr Samia's achievements speak volume in the
port sector, which contributes 40 per cent of the country's Gross Domestic
Production (GDP).

 

Cognisant of the fact that sound investment in the country's ports is key in
accelerating economic growth and development, President Samia has been hands
on in orchestrating the sector's transformation by supporting strategic
projects undertaken by the Tanzania Ports Authority (TPA), which are aimed
at improving port services in the country.

 

After stepping into power in March, 2021, President Samia clearly expressed
her intention to help improve TPA's operations and to enable the Authority
to take advantage of the huge economic potential of the country's ports and
shipping sector.

 

For President Samia, it is equally significant that Tanzania's ports
withstand the competition from rival ports in neighbouring nations.

 

And the last two years have seen the TPA work tirelessly to implement
President Samia's vision and her dream to make Tanzania a hub for water
transportation.

 

The TPA with the government's helping hand has in the past two years
succeeded to transform port operations and enhanced efficiency.

 

There has been massive improvement in port infrastructure, acquisition and
use of modern cargo handling equipment and technologies, safety and
security, while considerable measures have been taken to market the
country's ports with the ultimate goal of multiplying volumes of cargo
passing through Tanzania's ports.

 

When tabling the budget for the ministry of works and transport, the
Minister for the docket, Prof Makame Mbarawa, said by April, in the current
financial year, the TPA has handled cargo amounting to 20.8 million tonnes
and 765,504 containers.

 

The Container Port Performance Index 2022 shows that the Port of Berbera
(144), Djibouti (26), Port Elizabeth (291), Durban (341) and Cape Town (344)
are among the ports that were assessed in sub-Saharan Africa.

 

The World Bank notes that efficient operation of the port is key to the
development of trade in the region, pointing out that there has been
significant improvement in business since 2020 when the marine industry
recorded reduced activities in the wake of the Covid-19 pandemic.

 

-Daily News.

 

 

 

South Africa: Load Shedding to Continue Beyond Christmas

The national electricity grid cannot be stabilised before the end of the
year and load shedding will continue into mid-2024.

 

Construction of new temporary chimneys has not yet started at Kusile. They
are designed to replace the flue gas duct that was damaged at Unit 1 in
October last year.

 

The new set is a deviation of the plant's licence requirements which
approved an environmentally friendly chimney that removes volumes of sulphur
before emitting smoke into the air.

 

Minister of Electricity Kgosientsho Ramokgopa said this during a visit to
Kusile Power Station in Mpumalanga on Monday.

 

The power station has lost four of its units, a loss of 3,200 MW to the
grid.

 

The R166 billion station is responsible for three stages of load shedding
and is expected to regain function of three more units by December and full
capacity by February 2024.

 

 

Ramokgopa said Kusile would be back at full capacity in April 2024.

 

"Kusile is particularly important because as you know that there are three
units that went off -- Unit 1, 2 and 3 -- and there is also Unit 5 that is
offline.

 

"And those units collectively if they were operating today, you can imagine
each giving us about 800 MW so you have about 3,200 MW. Essentially you are
talking about three stages of load shedding," said Ramokgopa.

 

In other Eskom woes the power utility has scheduled a 200-day shutdown of
the reactor at its Koeberg nuclear power station.

 

The reactor has been taken offline for maintenance, refuelling and
refurbishment as part of plans to extend its lifespan by another 20 years.

 

All this is happening as Koeberg's operating licence is due to expire on 21
July 2024 and the Unit 1 shutdown is planned for 24 July 2024 and its return
in February 2025.

 

That would be a loss of 970 MW for 200 days as each unit at Koeberg
generates 970 MW.

 

-Scrolla.

 

 

 

 

Ghana: MPC Maintains Policy Rate of 29.5 Percent.... Cites Fall in Local,
Global Inflation

The Monetary Policy Committee (MPC) of the Bank of Ghana has maintained the
Monetary Policy Rate (MPR) at 29.5 per cent on the back of local and global
inflation.

 

The policy rate is basically the rate at which the BoG borrows to commercial
banks in the country, which serves as benchmark for the banks to lend to the
public.

 

According to the Committee, the underlying inflationary pressures were
easing, as the bank's core measure of inflation declined for the fourth
consecutive month.

 

"Core inflation, which excludes energy and utility prices, declined to 41.7
per cent in April 2023, from 44.6 per cent in March, and 52.0 per cent in
February. Similarly, the banking sector's inflation has declined by 14.5 per
cent, while food inflation also fell by 11.1 per cent," the MPC stated.

 

 

Addressing the media in Accra yesterday after the 112th regular meeting of
the MPC, days after Ghana clinched the $3 billion Extended Credit Facility
with the International Monetary Fund for balance of payment support and to
restore macroeconomic stability, Dr Ernest Addison, who is the Chairman of
the MPC, said the MPC noted the significant decline in headline inflation
from the beginning of the year of 12.0 per cent.

 

He said the percentage of items in the Consumer Price Index basket with
inflation more than 50 per cent and above was receding, which was an
indication a strong return to the disinflation path, adding that core
inflation, excluding energy, was easing at a faster rate.

 

"The tight monetary policy through additional liquidity management
operations to address excess liquidity conditions in the market, relative
stability in the local currency, and easing of ex-pump petroleum prices have
supported the disinflation process," Dr Addison stated.

 

The Governor said the BoG had signed a Memorandum of Understanding on the
zero financing to the budget to eliminate fiscal dominance and allow for a
faster ease in inflation towards the target band of below 10 per cent.

 

Dr Addison said the recent approval of the $3 billion ECF had reinforced
recovery efforts aimed at restoring macroeconomic stability and debt
sustainability.

 

"This should further help re-establish investor confidence in the domestic
economy," he stated.

 

On the international front, Dr Addison said, global headline inflation
continued to ease in several economies, reflecting synchronised monetary
policy tightening, and declining energy and food prices, adding developments
in the global economy would have implications on the local economy.

 

He said though the global economic outlook remained uncertain, the latest
Purchasing Mangers' Indices pointed to some rebound in economic activity
driven mainly by the services sector.

 

Banking Consultant, Nana Otuo Acheampong, commenting on the decision of the
MPC to maintain the policy rate, said the decision to maintain the policy
rate was the best in the circumstance, and he was not surprised at the new
MPR rate.

 

"I did not expect the MPC to increase the policy rate but maintain or
decrease it, since the factors fuelling inflation are easing, even though it
is not at the levels we are expecting," he stated.

 

-Ghanaian Times.

 

 

 

 

South Africa: Load Shedding Stages Ramped Up

Eskom has announced that it will implement Stage 4 and 5 load shedding until
further notice.

 

This after breakdowns occurred at several of the power utility's stations
overnight.

 

Stage 4 will be implemented between 5am and 4pm while Stage 5 will commence
from 4pm to 5am every day.

 

"Over the past 24 hours, a generating unit each at Duvha, Kriel, Majuba,
Medupi and Tutuka power stations were returned to service.

 

"In the same period, a generation unit each at Arnot, Camden, and two
generating units at Kriel power stations were taken out of service due to
breakdowns. Furthermore, the delay in returning units to service at Arnot,
Kendal, Kriel, Lethabo, Matla, Tutula and two units each at Hendrina power
stations continue to add to the current capacity constraints," Eskom said.

 

By Tuesday morning, breakdowns at power stations rendered at least 18 177MW
of generating capacity offline coupled with a further 2629MW out due to
planned maintenance.

 

"The team is working tirelessly to ensure that generating units are returned
to service as soon as possible.

 

"We thank those South Africans who do heed the call to use electricity
sparingly and efficiently, including switching off geysers from 5pm to 9pm,
in helping to alleviate the pressure on the power system and avoiding higher
stages of load shedding," Eskom said.

 

-SAnews.gov.za.

 

 

 

 

Kenya: Research Reveals Most SME's Are Women, Youth-Owned

Nairobi — A majority of small businesses in Kenya are managed by women and
youth, a new report has shown, shining a spotlight on their roles in
economic growth.

 

This was revealed today through the 'Small Firms Diaries' that was sponsored
by the Financial Sector Deepening (FSD) and Financial Access Initiative
(FAI) research centers.

 

While 62 percent of SMEs are women-led, only 32 percent are owned by men.

 

The study, which was undertaken in seven countries: Kenya, Nigeria, Uganda,
Ethiopia, Indonesia, Fiji, and Colombia, sought to investigate how
microbusinesses overcome their financial constraints.

 

 

It sampled business owners in low-income neighborhoods and was conducted
weekly for a span of one year.

 

In the country, the research was conducted in Kisumu, Nairobi, and Kwale,
where most small-scale businesses are operated by women who rely heavily on
community-based finances (chamas), a popular funding structure in Kenya.

 

"We also note that there is a significant growth in the youth population
into business," "observed Tamara Cook of Financial Sector Deepening.

 

The report further revealed that Nairobi tops the list as the most formally
financially indebted county, followed closely by Kisumu.

 

It also indicates that the majority of small business owners use loans to
expand stock.

 

It, however, calls for more capital to be availed to them since a majority
lack access to finances.

 

-Capital FM.

 

 

 

Ghana: Include Tree Planting Clause in Road Construction Contracts ·green
Republic Project Convener

The Ministry of Roads and Highways, has been urged to develop a policy where
contracts awarded to road contractors will include a clause that will make
them responsible for the planting of trees along the road.

 

This, according to the convener and founder of the Green Republic Project,
Mr Nana Yaw Osei-Darkwa, would help mitigate the impact of climate change
and reduce carbon emission.

 

"I will encourage the Minister of roads to come out with a policy where
every contractor who is given a contract to construct a road must ensure
that there is a clause in the contract which will make the contractor
responsible for planting a certain number of trees after construction," Mr
Osei-Darkwa said.

 

 

He made the statement at the 3rd edition of the annual climate benefit ball
and fundraising event organised by the Green Republic Project held at the
Labadi Beach Hotel on Saturday.

 

The event which was on the theme, "Reversing the climate trends, no future
without trees" brought together Civil Society Organisations (CSOs), climate
change activists and advocates, Heads of State institutions and members of
the diplomatic community.

 

The Green Republic Project is an indigenous Ghanaian based non-profit
organisation founded on the knowledge and firm belief that tree remains the
most cost-efficient nature-based solution to capture carbon.

 

Mr Osei-Darkwa making reference to a press release issued by the World
Meteorological Organisation (WMO) on May 17, 2023 indicating a surge in
global temperatures likely to be recorded in the next five years underscored
the essence of the planting of trees "in our surroundings because trees
remain the best coolants of the earth."

 

 

Furthermore, he lamented the deforestation of the country's forest reserves
by the activities of humans and its impact on the environment, and therefore
called for attitudinal change for its restoration.

 

According to Mr Osei-Darkwa, the Green Republic Project was determined to
create awareness about sustainable environmental practices among Ghanaians,
especially, the youth through its "Engaging the future" campaign series.

 

He also stressed on the importance of partnership and collaborations in
order to address the current global climate and environmental crisis saying
"I am of the strongest of opinions that political technical and financial
solutions alone will not solve the global climate and environmental crisis
we find ourselves in."

 

"I am of the view that all three must point to interactive knowledge as the
way forward," he added.

 

Likewise, he appealed to the media to use its platform to set climate change
agenda by giving climate and environmental-related stories front page
headlines and editorials in order to generate discussions.

 

Mr Osei-Darkwa said the target of the fund raising was to help the Green
Republic Project visit 20 schools across the country by the end of the year
through its "Engaging the future" campaign series by the end of the year.

 

Additionally, he said it was also to raise the tree count of the Green
Republic Project from 56,000 to 100,000 by the planting season in September
this year.

 

Delivering the keynote address, the Australia High Commissioner to Ghana,
Mrs Berenice Owen-Jones, lauded the government for its effort in the fight
towards climate change and the reduction of carbon emission.

 

She also bemoaned the deforestation of the country's forest reserves and
urged the citizenry to desist from such acts as it could prevent Ghana from
keeping global temperatures below 1.5 degrees Celsius as benchmarked at the
Paris Climate Agreement in 2015.

 

Mrs Owen-Jones declared Australia's readiness to partner Ghana in its quest
to mitigate the effect of climate change and reduce carbon emission.

 

An award was presented to the National Lotteries Authority (NLA) under its
leadership of Mr Sammy Awuku for its continuous support towards climate
change.

 

Other organisations that received recognition were the Minerals Income
Investment Fund (MIIF), Zoomlion Ghana Limited, Kasapreko Company Limited,
and Dotcom Logistics.

 

-Ghanaian Times.

 

 

 

Africa: Aliko Dangote Puts Life Into the 'Clay Feet' of the Giant of Africa

Fifty years ago, Nigeria used to be justifiably mocked as "Africa's giant
with 'clay feet'.

 

Justifiably? Yes. Which country in the world would import so much cement
that its port facilities could not download them?

 

Where else could an importer of cement conspire with shipping companies to
ship cement to Lagos, to join in a long line of vessels that had formed a
"Great Cement Armada" there, knowing the ships could not be unloaded, and
that a lot of money could be earned from "demurrage" and insurance charges,
as the cement "caked" in the holds of ships' holds that awaited an unloading
that didn't happen on time?

 

 

Huge sums from Nigeria's earnings from oil were spent to defray such
unnecessary expenditures, while millions of Nigerians struggled to survive
the inflation that prevailed as a result of the capture of the country's
petroleum resources by local elites and their foreign partners.

 

As the years rolled along, bad planning, aided by corruption, created a
situation whereby Nigeria began to spend huge sums of money importing
refined petroleum products. Attempts to alleviate the high cost of imported
fuel through a "petroleum subsidy" went awry because - fraudulent accounting
in respect of for what had NOT been imported but put on the books as
imports, was causing havoc in the economy.

 

Ameliorating the messy situation regarding local consumption of refined
petroleum (by building local refineries) seemed a good idea and refineries
were built at Warri and Port Harcourt. But they were operated as state
enterprises. Which meant, they were a treasure trove for the bureaucracies
that operated them.

 

 

Whilst all this was going on, a young man called Aliko Dangote was growing
up and getting educated. Born in April 1957, this young man came from a
well-known family in Kano -- the Dantata family. Business and the Dantatas
went together, and the young Aliko must have heard many a story, as he grew
up, analysing and decrying what was going on, in the name of "business", in
the country of his birth.

 

On May 22, 2023, that young man's idea of helping Nigeria to manufacture
what it consumed, and exporting what it did not consume, came to fruition
when the "Dangote Petroleum Refinery", built in the industrial free zone of
Lekki, Lagos state, was commissioned by President Muhammad Buhari. The owner
of the plant (which cost about $19 billion US to build) showed his intent by
also inviting the Presidents of Ghana, Senegal, Togo, Niger and Chad (all of
them neighbours of Nigeria) to the opening ceremony.

 

 

The presence of Ghana's President, Nana Addo Dankwa Akufo-Addo, was greatly
significant because although Ghana has stepped on the ladder of petroleum
and gas production, she has, of late, been experiencing difficulties that
remind the populace of the bad old days of "dumsor". So any amelioration of
the petroleum-and-gas supply situation in Nigeria (the new plant will refine
650,000 barrels per day of crude petroleum from Nigeria's oilfields) is of
great importance to Ghana, in terms of making up for shortages that Ghana
may experience in utilising her own resources.

 

Dangote's mother, Mariya Sanusi Dantata, was the daughter of the wealthy
businessman, Sanusi Dantata of Kano. His father, Mohammed Dangote, was a
business associate of Sanusi Dantata's. Through his mother, he is the
great-grandson of Alhassan Dantata, who was described as "the richest person
in West Africa", at the time of his death in 1955. The term "richest man"
has been bestowed on Aliko Dangote, not just in relation to Nigeria or even
to Africa alone, but throughout "the black world". Both Forbes and other
classifiers of people's wealth agree that he is Black Richman Number One!]

 

Dangote was educated at, among others, Capital High School in Kano and also
at the Government College, Birnin Kudu, from which he passed out in 1978. He
next received a bachelor's degree in business studies and administration
from Al-Azhar University in Cairo.

 

The Dangote Group was established as a small trading firm in 1977. This was
the same year Dangote relocated to Lagos to expand the company, trading in
commodities, including bagged cement (!) as well as agricultural goods, such
as rice and sugar.

 

He made his big move in the 1990s, when he approached the Central Bank of
Nigeria and persuaded its top officials that it would be less expensive for
the Bank to allow Dangote's transport company to manage their fleet of staff
buses. This gave him an insight into finance and business, and he hasn't
looked back since. The current Governor of the Central Bank of Nigeria, was
one of the guest speakers at the commissioning of the Petroleum Refinery on
May 22, 2023. He praised Dangote highly for establishing an enterprise that
(he said) "would save Nigeria billions of dollars in foreign exchange."

 

-Ghanaian Times.

 

 

 

 

Ghana: No Funds for DACF for 2yrs... Finance Ministry Fails to Transfer 5
Percent Oil Revenue

For two consecutive years, the Ministry of Finance has failed to transfer
five per cent of the Annual Budget Funding Amount (ABFA) of the country's
oil revenue to the District Assembly Common Fund (DACF) as required by law.

 

The Supreme Court in the case of Kpodo and Another versus Attorney-General
in 2019 ruled that the Ministry should release the allocation to the DACF
for development projects at the local level.

 

However, the Public Interest and Accountability Committee (PIAC) report on
the management and use of petroleum revenues revealed that the ministry paid
1.74 per cent of ABFA in 2021 and 2.39 per cent in 2022.

 

 

At a media workshop in Keta in the Volta Region on Saturday, the Vice
Chairman of PIAC, Nasir Alfa Mohammed, said the situation was affecting
progress of development projects in the assemblies.

 

The two-day training organised by the Committee and the German Development
Corporation (GIZ) was meant to deepen the understanding of members of the
parliamentary press corps and the Institute of Financial and Economic
Journalists (IFEJ), on oil revenue management and use.

 

The 2022 Annual Report covers the period January to December 2022 and
encompasses issues on production, liftings, revenues and allocation by
Government, ABFA utilisation and performance of various institutions.

 

Per the PIAC report, total petroleum revenue in 2022, the highest for a
single year since inception of petroleum production in the country, was
US$1.43 billion.

 

The revised projected ABFA for 2022 was GH¢6,126.17 million for 2022,
meaning amount of GH¢205 million was to be disbursed to the District
Assembly Common Fund for 2022, representing 51.36 per cent.

 

But the report said according to the Ministry of Finance, actual ABFA
disbursed to the DACF for 2022 was GH¢105,281,567.06, representing 2.39 per
cent of total ABFA utilisation for 2022.

 

That notwithstanding, the funds disbursed were used for projects such as the
construction of markets, vocational and technical blocks, dormitory block
and the supply of dual desks to basic schools across the country.

 

In order to enable the assemblies to finish these projects for use by the
residents of the respective assemblies, Mr Mohammed urged the Ministry of
Finance to comply by the court's ruling.

 

On inspection of ABFA-funded projects, the Committee inspected 29 ABFA of
them in seven regions and 26 out of the projects visited, the ABFA component
constituted an average of 57.31 per cent of the project contract sum.

 

"The contract sum of the remaining three projects was not available to the
Committee at the time of the inspection. The only project that was completed
at the time of PIAC's visit was fully funded with the ABFA," the report
said.

 

In her welcome address, the Acting Chair of the Public Affairs and
Communications Sub-committee of PIAC, Emerita Professor Elizabeth
Ardayfio-Schandorf, commended the media for their role in putting the
government in check and urged the journalists to continue the advocacy for
prudent use of the country's oil resources.

 

-Ghanaian Times.

 

 

 

Ocp Group Finalizes The Acquisition Of 50% Stake In Globalfeed S.L.

OCP Group, a leading global phosphate-based plant and animal nutrition
solutions provider and Fertinagro Biotech S.L., a major Spanish fertilizer
producer, are pleased to announce that OCP’s previously announced
acquisition of Global Feed S.L completed on May 17th, 2023.

 

GlobalFeed, located in Spain, manufactures and distributes a wide range of
products in the animal nutrition segment, including phosphate-based
commodities and high-value feed solutions customized to different livestock
species.

 

Regarding the transaction Marouane Ameziane, Managing Director for Specialty
Products and Solutions at OCP Group, said:

 

“ This acquisition confirms OCP’s commitment to becoming a leading player in
the animal nutrition sector. We are delighted to close this transaction and
strengthen our partnership with Fertinagro. Following this acquisition, we
intend to increase GlobalFeed’s production capacity to 400,000 tons per year
by 2027, in order to serve the needs of our customers around the globe, with
an offering that expands our portfolio to include, beyond DCP, MCP and MDCP,
premium products and customized solutions.

 

Generoso Martin, Founder of Fertinagro Biotech, said:

 

“The completion of this acquisition not only demonstrates our two companies’
strong commitment to continue serving our customers with innovative
phosphate solutions, but is also a testament to the success of our
relationship, which we will continue to strengthen in the years to come. ”

 

About OCP Group

 

OCP plays an important role in feeding a growing global population, by
providing essential elements for the agricultural industry, with a century
of experience and revenues reachin US$ 11.3 billion in 2022. OCP is a leader
in plant nutrition and the world’s first producer of phosphate-based
products. OCP provides a wide range of customized products to enhance soil,
increase agricultural yields, feed animals and help nourish the planet in a
sustainable and affordable way.

 

Headquartered in Morocco and present on five continents, OCP works in close
partnership with more than 350 customers across the world. The Group is
firmly convinced that leadership and profitability are necessarily
synonymous with social responsibility and sustainable development. Its
strategic vision is rooted in the meeting of these two dimensions.

 

Learn more: www.ocpgroup.ma

 

About Fertinagro Biotech

 

Fertinagro is a major Spanish fertilizer company with more than 35 years of
experience in the production and commercialization of plant nutrition
solutions (NPK, enriched NPK, biostimulants etc.) and is a leading player in
terms of product development capabilities biotech application and number of
patents registered. It has a production capacity of 2 million tons
throughout its 28 owned manufacturing plants and logistics centers located
in Spain and France. Fertinagro also has an international footprint through
its subsidiaries and sales in over 60 countries worldwide.

 

 

 

Ghana to Host 30th Annual Meeting, Anniversary of Afreximbank

Ghana is to play host to the 30th annual meeting and anniversary of the
African Import-Export Bank (Afreximbank) in Accra.

 

The programme, the first to be held in Ghana and scheduled for June 18-22,
2023, is expected to be attended by more than 3,000 participants.

 

President Nana Addo Dankwa Akufo-Addo is expected to open the three-day
programme to be held at the Accra International Conference Centre under the
theme; 'Delivering the vision: Creating prosperity for Africans.'

 

Afreximbank is a Pan-African multilateral trade finance institution created
in 1993 under the auspices of the African Development Bank to serve as the
trade finance bank for Africa and currently has assets worth more than $27
billion.

 

 

Speaking at the launch in Accra over the weekend, the President and Chairman
of the Board of Directors of the Afreximbank, Professor Benedict Oramah,
said Ghana was chosen to host the programme because of the role it had
played in promoting Pan-Africanism.

 

"The choice of Ghana as host of Afreximbank's 30th annual meeting and
anniversary wasn't a difficult one. First, Ghana is the birthplace of
Pan-Africanism, and its pioneer and successive leaders have shown unwavering
commitment to the Pan-African ideals. Also, the recent successful 'Year of
Return' ushered in a new sense of belonging and oneness irrespective of
geographic boundaries," Prof. Oramah stated.

 

"The meeting will discuss challenges facing Africa and proffer solutions to
address them. Specifically, the meeting will discuss issues on finance,
energy, and transportation," he stated.

 

Prof. Oramah said the choice of the overarching theme; 'Delivering the
vision: Building prosperity for Africans' was informed by the critical role
that Afreximbank had played over the last three decades in the promotion of
economic integration in Africa through support for intra-African trade and
investment, diversification of sources of growth and exports for inclusive
growth and shared prosperity.

 

"At the same time, the event provides the opportunity to confront challenges
and re-energise Africans towards the attainment of the Pan-African vision of
an integrated, prosperous, and peaceful Africa, driven by its citizens,
representing a dynamic force in the international arena," Prof. Oramah
stated.

 

He stated the 30th anniversary celebration will be the first gathering of
Global Africa, where the African participating states would welcome the new
participating States from the Caribbean.

 

The Minister of State at the Ministry of Finance, Dr Mohammed Amin Adam, who
chaired the programme said Ghana was proud to host the programme.

 

He said the Afreximbank had been a worthy partner supporting many
development projects in the country, saying the bank provided $750 million
to support Ghana when the COVID-19 pandemic hit the country.

 

Dr Adam expressed the hope that the annual meeting in Accra would come out
with solutions to address the economic challenges facing Africa.

 

The Governor of the Bank of Ghana, Dr Ernest Addison, said Afreximbank had
been one of the great partners of Ghana.

 

-Ghanaian Times.

 

 

 

Kenya: Bread Prices Rise Sh10 on Increased Input Costs

Nairobi — The price of a 400-gram loaf of bread has increased by Sh10 amid
the rising cost of sugar and fuel.

 

A spot check by Capital Business at various retail stores showed that a
400-gram now costs Sh70 from Sh60, one day ago.

 

The increase comes after a two-kilo packet of sugar increased to Sh420 last
week from about Sh350 a few days ago.

 

As of last week, for instance, a two-kilogram bag of Kabras sugar was going
for Sh420, having risen by around Sh50.

 

Sugar is an important ingredient in the making of bread, so its price will
have a negative impact on the cost of bread.

 

Exorbitant bread prices add to the suffering Kenyans are facing.

 

Already, they are battling the high cost of food products such as maize and
wheat flour, which is through the roof.

 

Rising fuel prices have also contributed to the mess after the Energy,
Petroleum, and Regulatory Authority (EPRA) increased fuel prices early this
month.

 

In the monthly review, super, diesel, and kerosene in Nairobi increased by
Sh3.40, Sh6.40, and Sh15.19, respectively, meaning motorists in the city
will now be paying Sh182.7 for petrol, Sh168.4 for diesel, and Sh161.13 for
kerosene.

 

-Capital FM.

 

 

 

Nigerian Petroleum Agency to Begin Licensing Enforcement By June

An official said that some organisations are operating outside the
regulatory oversight which is not in accordance with the Petroleum Industry
Act (2021).

 

The Nigerian Midstream and Downstream Petroleum Regulatory Authority
(NMDPRA) on Monday said it will sanction any depot or operator supplying
petroleum products to unlicensed marketers as from June.

 

The agency disclosed this at a programme tagged 'Stakeholders' Engagement on
Gas Utilization in Nigeria', which held in Abuja on Monday.

 

Speaking at the event, the Executive Director, Distribution Systems, Storage
and Retailing Infrastructure, NMDPRA, Ogbugo Ukoha, said the engagement sets
the objective to enlighten the end-user category on the need to urgently
obtain the requisite petroleum storage license.

 

 

According to him, the engagement is also designed to engender the transition
from white products to gas at the last mile.

 

"Many of these invited institutions are not only the heaviest consumers of
diesel but have also been identified as operating outside the regulatory
oversight which is not in accordance with the Petroleum Industry Act
(2021)," he said.

 

He noted that the agency's twelve gazetted regulations define the licensing
regimes, procedures and standards for handling petroleum products which when
breached pose increased risks.

 

In addition, Mr Ukoha said gas as the transition fuel represents a cleaner
and more cost-effective energy source.

 

"We encourage operators and businesses to take advantage of the evolving
opportunities in the gas value chain for sustainable business growth by
positioning their energy needs to embrace gas derivatives (LNG, LPG, CNG,
Auotogas, Propane & Butane) in order to hedge against future global
uncertainties to diesel supply.

 

 

"Finally, the support and collaboration of operators and business are
enjoined to achieve a safer and cheaper energy operating environment," he
said.

 

He appealed to all petroleum handlers to fully comply with the provisions of
the PIA and NMDPRA regulations to avoid strong regulatory enforcement which
may adversely impact on business operations.

 

"If there is low compliance we can assure you from the Authority that 1st
June there will be no license, no loading. Any depot, any license operator
who supplies petroleum products to an unlicensed facility, we will shut down
the operator.

 

"Please anybody who wants to handle petroleum products in excess of 500
litre storage is required to have a license," Mr Ukoha said.

 

He noted that the agency's statutory mandate remains to enable industry
growth.

 

Regulatory Efforts

 

Also speaking at the event, the agency's Chief Executive, Farouk Ahmed, said
the engagement seeks to encourage large consumers of petroleum products to
not only operate within the regulatory space but also to become aware of the
comparative advantages in the different fuels, particularly gas.

 

He said it is in this regard that the federal government has put in place
various initiatives and policy frameworks including National Gas Expansion
Programme (NGEP) and the Decade of Gas Programme (DOGP).

 

He explained that the petroleum industry Act (2021) has also established
within the authority the midstream and downstream gas infrastructure fund to
catalyze gas investments.

 

"These efforts are yielding significant results, yet more collaborations and
interventions are needed to improve domestic gas utilization.

 

"The Authority empowered by the petroleum industry Act 2021 is poised to
enable the growth of the industry. The twelve (12) regulations recently
gazetted unlock the golden opportunities and signpost the pathway to energy
security.

 

"It is therefore our hope that this engagement will create the necessary
awareness and make the compelling case for industry operators to foster a
compliance culture which alone guarantees safer and sustainable facilities,"
he said.

 

-Premium Times.

 

 

 

 

Nigeria: $21bn Revenue, 100,000 Jobs Coming From Our Refinery - Aliko
Dangote

Amid encomiums from eminent personalities, including President Muhammadu
Buhari and presidents of five other African countries, founder and President
of Dangote Group, Alhaji Aliko Dangote, yesterday expressed optimism that
the newly commissioned 650,000pbd refinery would employ over 100,000
Nigerian youths and generate over $21 billion in revenue.

 

According to him, this will save the country huge forex that would have been
spent on fuel importation.

 

He also disclosed that the first products from the refinery would hit the
market towards the end of July this year, adding that the refinery currently
has over 33,000 employees.

 

 

Speaking at the inauguration of the Refinery by President Buhari at
Ibeju-Lekki, Lagos, Dangote said its products "will be in the market before
the end of July."

 

He said: "Beyond today's ceremony, our first goal is to ramp up production
of the various products to ensure that within this year, we're able to fully
satisfy our nation's demand for higher quality products."

 

According to him, the accomplishment is to enable Nigeria to eliminate what
he described as the tragedy of import dependency and stop "once and for all"
toxic, sub-standard petroleum products from being dumped in Nigeria's
market.

 

"Beyond this, we intend to ensure that our plants are run at the highest
capacity of utilisation and the highest efficiency to enable us to export
competitively to other markets, especially in the Economic Community of West
African States, ECOWAS and wider regions in which 53 countries of 55 are
dependent on imports to meet their petroleum products' demand," he added.

 

 

The billionaire businessman said the project was the realisation of a "clear
opportunity" for Nigeria, citing the African Union's commitment to the
creation of an African common market through the African Continental Free
Trade Area, AfCFTA.

 

The facility is expected to produce Premium Motor Spirit (petrol), diesel
(Automotive Gas Oil), aviation jet fuel and Dual-Purpose Kerosene (DPK),
among other refined products.

 

Dangote Refinery, a game changer -- BUHARI

 

Also speaking on the occasion attended by Presidents of Ghana, Togo, Niger,
Senegal and a representative of the President of Chad, President Buhari, who
commended Alhaji Dangote's leadership in executing the plant, urged other
entrepreneurs to emulate his example in driving economic growth and
realizing Nigeria's economic potential.

 

 

He stressed the need for African countries to come together, integrate their
economies, eliminate trade barriers, and rally their populations to achieve
Agenda 2063 for the continent's prosperity.

 

He said: "I urge and encourage our other great entrepreneurs to emulate this
iconic Nigerian industrialist and join the government in accelerating our
growth in order to realize our country's globally recognized economic
potential.

 

"When I travel around Africa and meet and engage my brother Heads of State
(and I am delighted some of the Excellencies are here) I often sense a quiet
expectation that our country is blessed with resources and human capacity to
lead Africa's rise to economic prosperity and the attainment of Agenda 2063
- 'The Africa We All Want.'

 

"But to achieve the goals of Agenda 2063, Africa must come together, we must
integrate our economies, eliminate barriers to trade and energize our
youthful population to scale up our productive capacity.

 

"We must create necessary conditions for our private sector to grow and
partner with the public sector to accelerate economic growth across the
continent. We must not allow outside powers to use some of our leaders to
destabilize our economic and political trajectory."

 

President Buhari acknowledged the visionary investments made by the Dangote
Group, under the leadership of Alhaji Dangote, in transforming Nigeria's
economy through its involvement in critical industries such as cement and
fertilizer.

 

He noted that investment in these sectors had played a crucial role in
shifting Nigeria from heavy import dependence to becoming a net exporter.

 

He also acknowledged that Nigeria's economy had faced significant challenges
over the years, including deficits in economic infrastructure, insurgency,
and external crises, such as the global financial crisis, oil price
collapses, the COVID-19 pandemic, and the Russia-Ukraine war.

 

"The consequence of these challenges constitutes a severe strain on our
economy, limiting the government's ability to provide basic infrastructure
without resorting to huge borrowings.

 

"Our government, therefore, took the decision to focus attention on creating
an enabling environment for the private sector to thrive and fill the
enormous gap in investments not only in infrastructure but also in all
critical sectors.

 

"We recognize that without the active participation of the private sector
and a strong commitment to a public-private partnership, our economy would
continue to remain severely challenged and our economic growth impeded,"
Buhari said.

 

In their respective goodwill messages, Presidents of Ghana, Senegal, Niger,
Benin Republic and Chad expressed satisfaction that the Dangote Refinery
would serve the West African region.

 

They added that their countries would be beneficiaries, saying the Dangote
Refinery is an African company for Africa by an African entrepreneur.

 

Refinery presents many benefits to Nigeria -- Emefiele

 

Also speaking, the governor of the Central Bank of Nigeria, CBN, Godwin
Emefiele, noted that the take-off of the Dangote Refinery and Petrochemical
factories comes with numerous economic benefits to Nigeria.

 

He said: Your Excellencies, we have it on good authority that the Dangote
Group has paid down some portion of the commercial loans, even before the
commissioning of this facility. As of today, the total outstanding stands at
$2.7 billion.

 

"This reflects the astute creditworthiness and commercial capability of the
Group and its Chairman, Alhaji Aliko Dangote. Your Excellencies, please
permit me at this juncture to appreciate all the participating local
Nigerian banks, who did not only partner with the project through effective
financing but were keenly aware of the importance of the project to our
nation.

 

"They provided immense support and exceptional understanding, even when
interest payments and principal repayment had fallen due. Mr President, I
must thank you for your astute vision to ensure that Nigeria produces what
we consume and that we consume what we produce.

 

"This refinery and petrochemical project is a testament to your vision for
Nigeria. It shows that, regardless of what the world thinks, Nigeria can be
self-sufficient in all products that we consume and at the same time export
our excess output to the rest of the world. Please permit me to recall the
events leading to Nigeria's eviction from the JP Morgan index in 2017,
following their pessimism on Nigeria's economic outlook and our ability to
take charge of our fortunes.

 

"At that time, we had explained the ongoing efforts to diversify our
economic base, through import substitution and export promotion strategies,
to sustainably attain self-sufficiency. They were very sceptical, saying
Nigeria typically crafts brilliant policies that could engender
diversification but lacks the ability to fully implement them.

 

"Even when we insisted that, under the leadership of President Muhammadu
Buhari, ongoing efforts will be actively implemented to diversify the
economy and make the country globally competitive, they still doubted us.

 

"Aside from enumerating our strategic efforts in agriculture and other
critical sectors, a sterling project that we highlighted to our foreign
investor community was this gigantic Dangote Refinery and Petrochemical
project.

 

"Your Excellencies, they doubted our willpower to succeed with this project.
In hindsight, I could appreciate their scepticism because they do not
understand how a single individual could build a refinery capable of serving
an entire nation and continent.

 

"To them, projects of this magnitude are usually only undertaken by
sovereigns, not individuals. But like Nelson Mandela once famously said, "It
always seems impossible until it is done."

 

"Today, it is with extreme delight that I say that President Mandela's quote
has come true for us. The impossible has today become possible. I am glad
that we never doubted ourselves.

 

Nigeria to cease importing petroleum products

 

"Under President Muhammadu Buhari's leadership, this seemingly unattainable
project has berthed and, correspondingly, under the incoming administration
of President Bola Tinubu, Nigeria will cease importing petroleum products,
fertilizer and petrochemicals that drained over US$26 billion in FOREX in
2022.

 

"In the first instance, this refinery will have an enormous impact on job
creation by generating thousands of direct jobs and millions of indirect
jobs, with over 135,000 permanent jobs.

 

"I understand that so far, there are nearly 4,000 Nigerian personnel on
site, excluding employment by the various contractors and sub-contractors at
the project site.

 

"I am also proud to state that the project will generate up to 12,000
megawatts, MW of electricity. In addition, the refinery and the other
ancillary projects will have significant multiplier effects on other sectors
of the economy by supporting a diverse range of sectoral value chains.

 

"For instance, the Lagos Chamber of Commerce and Industry noted that the
project could spur 'further growth and development across its value-chain,
including cosmetics, plastics, and textiles, while strengthening value
addition in agribusiness, including the sugar backward integration projects
that plan to create a strong localised supply in the sugar industry,
benefiting local suppliers across the sugar value-chain.

 

"More importantly, this project avails Nigeria with significant savings both
in terms of foreign exchange and in easing the fiscal burden on the Federal
Government.

 

"Available data at the Central Bank of Nigeria as of 2014, shows that at
least 30 per cent of the foreign exchange required to meet Nigeria's import
needs went into the importation of refined petroleum products.

 

"It is instructive to note, distinguished guests, that according to the
balance of payments statistics, the cost (including freight) of petroleum
products imports into Nigeria doubled over a five-year period from about
US$8.4 billion in 2017 to US$16.2 billion (indicating an annual average of
US$11.1 billion), before rising further to US$23.3 billion by end-2022.

 

"At this rate, the average annual cost of petroleum products imports to
Nigeria could reach US$30 billion by 2027 if we continued to rely on
petroleum imports.

 

"These figures suggest that the refinery could engender foreign exchange
savings to the country, of between US$25 billion and US$30 billion."

 

Our investment in Dangote Refinery strategic -- Kyari

 

In his remarks, the Group Chief Executive Officer, Nigeria National
Petroleum Company Limited, NNPCL, Mele Kyari, stated that the refinery
offered opportunities for efficiency and healthy competition.

 

He explained that NNPC will continue to support production in the sector as
opposed to importation, describing Dangote Refinery as a new deal that will
surely provide domestic security in the industry. He also stated that NNPC
investment in Dangote Refinery is strategic and in good order to ensure a
regular supply of petroleum products in Nigeria.

 

Similarly, the governor of Lagos State, Babajide Sanwo-Olu, commended
Dangote for siting the refinery in Lagos, adding that "the project provides
enormous opportunities for Nigerian youths."

 

He said: "In Lagos, we will continue to provide opportunities to investors.
Other investors should emulate Dangote. We need to replicate the likes of
Dangote in Nigeria."

 

Dignitaries in attendance

 

Dignitaries at the event included the President of Ghana, Togo, Niger
Republic, Senegal and a representative of the President of Chad;
President-elect, Bola Tinubu, was represented by Vice President-elect,
Kashim Shetima; Ahmed Lawan, Senate President, and Ibrahim Wase, Deputy
Speaker, House of Representatives.

 

State governors who attended the commissioning are Aminu Tambuwal of Sokoto,
Dapo Abiodun of Ogun, Umar Ganduje of Kano, Babagana Zulum of Bornu, Nasir
el-Rufai of Kaduna and Abdullahi Sule of Nasarawa.

 

Also present were the immediate past governor of Ekiti State, Kayode Fayemi,
former governor of Cross River State, Donald Duke and his counterpart in
Delta State, James Ibori. The presidential candidate of the Labour Party in
the 2023 elections, Peter Obi, governor-elect of Enugu State, Peter Mba, his
counterpart in Abia State, Alex Otti, and the Ooni of Ife also graced the
occasion.

 

Some captains of industry at the ceremony included the Chairman of Zenith
Bank Group, Jim Ovia, Femi Otedola of Geregu Power Plant, Tony Elumelu of
UBA, and Wale Tinubu, of Oando, among others.

 

-Vanguard.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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

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

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Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

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

 


 

 

 

 

 

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