Major International Business Headlines Brief::: 08 November 2023

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Major International Business Headlines Brief:::  08 November 2023 

 


 

 




 


 

 


 

ü  Africa: A Call to Reframe the Inequitable Global Poverty Definition

ü  Namibia: Reconafrica Gets New Exploration Approval

ü  Rwanda: RwandAir Looks to Double Fleet in Five-Year Plan

ü  South Africa: US Senator Chris Coons Proposes Immediate Review of SA's
AGOA Eligibility

ü  South Africa: MTN Spends R6.6bn to Boost Network Resilience in the Face
of Intensified Eskom Blackouts

ü  South Africa: It's 'Toad Versus Road' in the Western Cape High Court

ü  Namibia: Small-Scale Miners Want Equipment From Govt

ü  Namibia: Agronomic Board Revises Horticulture Imports

ü  Mozambique: - Health Workers Guarantee Services for Another 15 Days

ü  Mozambique: - Authorities Seize 22 Guns From Security Company in Beira

ü  'I blew the whistle on Meta, now I won't work again'

ü  How WeWork’s founder flew too close to the sun

ü  Optus outage: Millions affected by Australian network issues

ü  What is the TikTok creativity program beta?

ü  Christie's sells rare blue diamond for over $40m

 


 

 


 <https://www.cloverleaf.co.zw/> Africa: A Call to Reframe the Inequitable
Global Poverty Definition

When some people living in the Global North hear of the poverty level of
less than $2 per day by the United Nations and extreme poverty line of $2.15
per day as defined by the World Bank, they wonder how people survive on such
amounts. This is understandable if one views poverty through the lens of the
Global North. However, this is far-removed from reality. The
one-size-fits-all approach to measuring poverty fails to account for
contextual variations in the cost of living (including housing, food,
healthcare, and education) across countries and regions, and could be a
significant factor  hindering the effectiveness of global anti-poverty
initiatives. 

 

In this article, we would explore the contextual variations of three crucial
socioeconomic factors commonly used for poverty comparative measurements -
food, rent, and education. We would build on these to make a compelling case
for reframing how we define and address poverty especially at this critical
moment after the 2023 UN General Assembly where world leaders have
reaffirmed their commitment to 2030 Sustainable Development Goal (SDG) to
end global poverty. We would mainly use Nigeria and the United States where
both authors have lived for our comparative analysis.

 

 

Food is a fundamental concern when discussing poverty. The UN and World Bank
definitions do not adequately account for the vast differences in food
prices around the world. Evidence  shows that restaurant and groceries
prices in major Nigerian cities are about 77.7% and 66.9% lower than in the
U.S respectively. So, while $2 - 2.15 per person per day is grossly
insufficient for daily sustenance in a country like the U.S, it can provide
balanced diet in many Global South countries.

 

An American TikTok tourist, Chris - Authentic Traveling
(@authentic_traveling) made a video  on what a $1 equivalent of the Nigerian
currency (naira) can fetch you in the streets of Lagos, Nigeria. This
included a sausage roll, a plate of rice, boiled brown beans, spaghetti,
egg, cow skin and tomato stew; African pear and corn-on-the-cob, a 35cl
bottle of coca cola coke, 2 pieces of stewed pork, and puff-puff
(puffloafs). In contrast, $1 can only buy you a can of Coca Cola in the U.S.

 

 

Lagos is one of Africa’s top megacities  , and has a mix of rural,
urban-slums, and metropolitan areas. It is noteworthy that in the rural
communities, people find innovative ways to maximize their limited resources
by harnessing alternatives such as subsistent agriculture  (including
planting crops, fishing, and animal rearing) as their main/preferred
livelihood and direct foodstuff supply source. That way, there is little
need for actual monetary purchase of food.

 

One of the most glaring disparities in the cost of living between Global
North and Global South countries  is  housing cost. In major U.S cities,
apartment rent is exorbitant, often consuming a significant proportion of a
person’s income. Average rent price  in major Nigerian cities is about 64.2%
lower than in the U.S, with a one-bedroom apartment annual rent of about
$578.56  per month in the city center. The average monthly rent for a
similar apartment in major U.S cities cost $1,852.21.

 

 

Education is another critical dimension where the context of poverty is
apparent. Education costs in low income countries is significantly lower
than in high-income countries, with their governments offering either free
or highly subsidized fees depending on the education level. The issue of
inadequate infrastructure and poorly paid teachers may be raised. However,
one should not  consider the quality of the curriculum and graduates subpar,
as there are numerous track records of youths from developing countries
competing favorably with their counterparts from developed nations in
international examinations, competitions, and academics.

 

To further highlight the significant contrast in poverty definitions between
developed and developing countries, we reviewed  the 2023 U.S Federal
poverty guidelines   released by the Department of Health and Human
Services. The guidelines state that in the 48 contiguous states and the
District of Columbia, an individual living alone with an annual income below
$14,580, and a family of four with a $30,000 annual income live in poverty,
and are eligible for government assistance programs.

 

Let’s juxtapose these figures with the living costs in a developing country
like Nigeria, where the World Bank's 'extreme' poverty line is $2.15 per
person per day, translating to roughly $782.75 annually. It becomes evident
that a person considered poor in the U.S, could be considered middle-class
or even affluent in a developing country.

 

We acknowledge that redefining poverty based on contextual variations in
living costs is not straightforward. One might highlight that the
availability of safety nets such as tuition and mortgage loans in
high-income countries (which is very limited in developing nations) buffers
the high living costs. However, these structures leave people in high-income
countries perpetually in huge debts  averaging $59,580, on student loans,
mortgages, autoloans, and credit card - a situation most people in
developing countries cannot relate to since they mostly live debt-free.

 

Furthermore, critics may also argue that such definition shift would not
only complicate poverty measurements, but dilute the global poverty fight or
lead to relativism, where poverty is perceived differently based on
location. However, it is crucial to emphasize that the redefinition does not
mean abandoning efforts to combat poverty. Instead, it calls for a more
context-conscious approach that better embraces the diverse socioeconomic
realities of our world so that more effective and targeted solutions can be
birthed to alleviate poverty on a global scale.

 

Simply put, redefining poverty in both Global North and Global South would
help with poverty eradication efforts and it is the equitable thing to do.

 

Dr. Ifeanyi M. Nsofor is a public health physician and global health thought
leader. He is a graduate of the Liverpool School of Tropical Medicine and
Nnamdi Azikiwe University School of Medicine. For more than 23 years since
graduating as a medical doctor, he has worked in government, international
non-profit organizations, indigenous non-profit health organizations and the
private health sector. 

 

Edima   Ottoho  is a public health professional with more than 10 years of
experience. She is currently undergoing her doctoral studies (DrPH
Leadership, Management, and Policy) at Boston University (BU). She also
holds two master’s degrees (MPH and MBA) and is a PMP-licensed Project
Manager.  Edima  has been involved in numerous projects in sub-Saharan
Africa and in the United States and her long-term ambition is to become a
Global Health Leader.

 

 

 

 

Namibia: Reconafrica Gets New Exploration Approval

Canadian company Reconnaissance Energy Africa and its joint venture partner,
the National Petroleum Corporation of Namibia (Namcor), have been granted
approval to resume exploration in the northeast of the country.

 

This approval for the Second Renewal Exploration Period was granted by the
mines and energy ministry (MME), and it is valid from 30 January 2024 to 29
January 2026.

 

The approval relates to ReconAfrica's approximately 6.3 million acres (some
2.5 million hectares) petroleum exploration licence (PEL) 73.

 

ReconAfrica is an oil and gas exploration in the Kavango Sedimentary Basin
in the Kalahari Desert of north-eastern Namibia and north-western Botswana,
where the company holds petroleum licenses, comprising approximately ~8.0
million contiguous acres (3.2 million hectares).

 

 

"We appreciate the MME recognising the significant capital deployed and the
work programme ReconAfrica has executed during the First Renewal Exploration
Period on PEL 73 over the past three years. During the first exploration
period, the company has exceeded our work commitments through the drilling
of three stratigraphic test wells, the acquisition of over 2 750km of 2D
seismic and a ~5 000km2 eFTG survey. I would also like to take the
opportunity to recognise the efforts of the ReconAfrica and Reconnaissance
Energy Namibia teams in executing those programmes safely - and for the
benefit of the people of Namibia. We look forward to executing an efficient
exploration programme as we commence our drilling programme to test the high
potential Damara Fold Belt and oil-prone rift plays," said Brian
Reinsborough, president and CEO of ReconAfrica.

 

 

Under the terms of the Second Renewal Exploration period, ReconAfrica will
acquire additional subsurface data.

 

This will include either 500 km of 2D seismic data, 1 200km2 of Enhanced
Full Tensor Gradiometry data or a combination of these.

 

In addition, ReconAfrica will be required to design and drill one
exploration or stratigraphic test well.

 

The approval of the Second Renewal Exploration Period is a key outcome as
the company looks to continue exploring the potential of the Kavango Basin
within PEL 73.

 

It is also an important outcome as ReconAfrica continues to progress its
farm-out joint venture process.

 

In a statement, ReconAfrica noted that MME is Namibia's lead agency in
attracting private investment in resource exploration and development
through the provision of geo-scientific information on minerals and energy
resources, and management of equitable and secure titles systems for the
mining, petroleum and geothermal industries.

 

"It also carries prime responsibility for regulating these extractive
industries and ensuring that safety, health and environmental standards are
consistent with the relevant State and Commonwealth legislation, regulations
and policies," ReconAfrica

 

stated.

 

-New Era.

 

 

 

 

Rwanda: RwandAir Looks to Double Fleet in Five-Year Plan

The national carrier, RwandAir, expects to double its fleet to 25 planes
over the next five years to better connect underserved markets in Africa and
boost the continent's reach to global destinations, including the Middle
East, Yvonne Makolo, the airline's chief executive has said.

 

ALSO READ: African air transport cost remains a barrier to tourism growth

 

Speaking to The National, Makolo said that the airline started expanding its
fleet of 13 aircraft, taking delivery this year of three additional leased
Boeing 737 narrow-bodies.

 

 

"I don't think we need to move any farther than the African continent, this
is the most underserved continent in aviation: We have 1.4 billion people
and we only account for 3 per cent of global air traffic," Makolo said,
reacting on the current potential of African airspace.

 

ALSO READ: Rwanda among countries to pilot single air space market

 

Makolo, who was recently elected as the chair and first female leader of the
board of the International Air Transport Association (Iata), said RwandAir
serves 25 destinations, 20 of which are within the African continent to
countries such as Ghana, Kenya, Nigeria and South Africa. It also flies to
cities in Europe and the Middle East including Paris, London, Brussels,
Dubai and Doha.

 

The plan, she said, is to grow its route network to 39 destinations in five
years, mainly within the African continent.

 

ALSO READ: RwandAir expands fleet with new Boeing 737 aircraft

 

"The potential is within the continent and RwandAir is very focused on that,
on seeing how we can open up and connect different African countries with
fifth freedom rights, and how we can connect Rwanda to African countries,
then connect the continent to the rest of the world."

 

 

RwandAir's fleet currently consists of Airbus A330 wide-bodies, Boeing 737s,
Bombardier CRJ-900s and two De Havilland Canada Dash 8-Q400s.

 

Affordable air travel is still a "big challenge" in the African continent
because aviation is still seen as a luxury, Makolo said.

 

"It's heavily taxed, which is unnecessary, so that's something that also
needs to be addressed and we need to see more collaboration and partnerships
within African airlines as well," she added.

 

RwandAir aims to position Kigali as a regional hub and an alternative to
other hubs in Africa, she said.

 

Asked about RwandAir's growth plans for the Middle East with the imminent
deal, she said the airline will focus on adding more flight frequencies to
existing cities like Doha and Dubai and exploring new routes in the region.

 

 

RwandAir's load factor - a measure of how well airlines fill available seats
- for Dubai and Doha is at least 70 per cent.

 

"We will be focused on adding more frequencies, we'd like to see Dubai and
Doha go to double daily," she said.

 

Dubai is a "key" cargo destination for RwandAir, where it carries fresh
produce, particularly avocados, to the emirate.

 

RwandAir's extended codeshare with Qatar Airways allows its passengers
access to 65 destinations via Doha.

 

Launching a single aviation market in Africa would boost connectivity,
reduce fares and stimulate economic growth on a continent widely considered
expensive and inconvenient to fly around.

 

"We just need to get on with it," Ms Makolo said. "Let's start with whoever
is ready, let it be among the coalition of the willing and start, then
hopefully when others see that it is working, they will join in."

 

Makolo joined the aviation industry's growing calls for governments to
incentivise the production of sustainable aviation fuel (SAF) at a larger
scale.

 

SAF is expected to be the major contributor to the industry's goal of
net-zero by 2050 and Iata estimates that SAF will account for about 62 per
cent of the industry's decarbonization requirements.

 

Besides being in short supply, the fuel is also two to three times more
expensive than jet kerosene, according to Iata.

 

"A lot more incentives need to be put into place for manufacturers to start
producing enough SAF and then we can deal with the issue of affordability,"
Ms Makolo said.

 

"For us African airlines, already operating is very expensive and now we
need expensive fuel so that doesn't make sense - we would go bankrupt."

 

-New Times.

 

 

 

 

South Africa: US Senator Chris Coons Proposes Immediate Review of SA's AGOA
Eligibility

His proposed Bill would extend Agoa for 16 years -- but possibly eject SA
from the preferential trade programme.

 

Powerful US Democratic Party Senator Chris Coons is circulating a discussion
draft of a Bill to renew the African Growth and Opportunity Act (Agoa) for
16 years that would also require an immediate "out-of-cycle" review of South
Africa's eligibility for Agoa.

 

That could lead to South Africa being removed next year from the programme,
which has provided considerable benefits to SA exporters to the US of cars,
fruits and wine, in particular.

 

Coons released the draft Bill on Monday, after the annual Agoa Forum was
held in Johannesburg last week.

 

Much of the discussion focused on whether to renew Agoa when it expires in
2025, for how long and whether to change its terms.

 

Agoa grants duty-free access to the lucrative US markets for most exports
from eligible sub-Saharan countries.

 

South Africa has been the biggest beneficiary of Agoa, but recently
influential members of Congress, including Coons and Republican Senator Jim
Risch, questioned SA's eligibility because its warm ties with Russia were
deemed to threaten US national security and foreign policy interests,
violating an Agoa condition.

 

Last week, the Biden administration released the list of countries it is
removing from Agoa next year because of military coups (Gabon and...

 

-Daily Maverick.

 

 

 

 

South Africa: MTN Spends R6.6bn to Boost Network Resilience in the Face of
Intensified Eskom Blackouts

MTN aims to spend R10bn in 2023 and the early months of 2024, with the
telecommunications company sacrificing higher profits to make its network
reliable during Eskom blackouts. Its competitor, Vodacom, is spending R12bn
on backup power measures.

 

MTN has spent R6.6-billion in recent months to improve its
telecommunications network in South Africa and make it more resilient in the
face of Eskom blackouts that have intensified to unprecedented levels in
2023.

 

MTN, South Africa's second-largest telecommunications operator after
Vodacom, had spent billions of rands in the first nine months of the year
(ending 30 September 2023) and plans to spend an additional R2.5-billion
over the next few months.

 

 

The company aims to spend R10-billion in 2023 and the early months of 2024
to make its network more efficient and resilient in the face of Eskom
rolling blackouts.

 

MTN and other telecommunications operators have been forced to spend
billions of rands on solar power, generators and lithium batteries to keep
their cellphone towers running during Eskom blackouts.

 

The cellphone towers, which are critical for mobile and internet
connectivity, depend on a stable electricity supply to function efficiently.
In the 16 years that South Africa has been energy insecure,
telecommunications operators have spent huge sums of money fitting cellphone
towers with backup electricity measures, funds that could have been used to
expand their operations and, in turn, improve earnings.

 

Vodacom has stated its intention to spend at least R12-billion...

 

-Daily Maverick.

 

 

 

 

South Africa: It's 'Toad Versus Road' in the Western Cape High Court

Environmentalists challenge road extension that threatens endangered Western
Leopard Toads

 

A new road in Noordhoek, Cape Town, could drive the local toad population to
extinction, says a group of environmentalists.

The City of Cape Town acknowledges that there will be some impact.

But the City says measures can be taken to maintain toad numbers.

The matter is in court from Wednesday 8 November.

A new section of road through the Noordhoek wetlands could cause the local
extinction of the endangered Western Leopard Toad, a keystone species whose
presence or absence is an indicator of environmental health - "like the
canary in the coal mine".

 

 

This is one of the arguments in an application that starts in the Western
Cape High Court on Wednesday 8 November. A local organisation, the Noordhoek
Environmental Action Group (NEAG), is challenging both the 2019
Environmental Authorisation (EA) issued for the road and the 2020 dismissal
of their appeal against this EA.

 

The City of Cape Town, the first respondent in the case, acknowledges that
the new road will have some "unavoidable" impact on the toads. But it
accepts its environmental consultants' opinion that an "adequate level" of
long-term ecological viability for the toad population can be maintained if
the road is built, through various measures.

 

The approval process for this road construction project is described in the
voluminous court papers of several thousand pages as an "acrimonious and
controversial" affair that has "generated controversy and a complicated
record".

 

 

NEAG wants the court to review and rescind approval granted for construction
of this 1.2km section of road, known as Houmoed Avenue Extension 1 (HAE1).
The section is one part of a planned 2.1km arterial road, Houmoed Avenue
Extension, that will link Houmoed Avenue in the west, where it leads off
Kommetjie Main Road and terminates in Masiphumelele informal settlement, and
Houmoed Avenue in the east that leads off Noordhoek Main Road.

 

The contested section of new road will run along the south-eastern edge of a
wetland of some 50 hectares, commonly called the "Pick 'n Pay reed bed",
where it will impact three known breeding ponds used by the endangered toad.

 

"It is hard to underplay the importance of the Western Leopard Toad. It is
regularly referred to as a 'flagship' or 'umbrella' or 'indicator' species,"
NEAG states in its court papers.

 

"The Pick 'n Pay wetland and its animal inhabitants are already under great
pressure. Its existence as a functioning wetland which is a safe place for
the Western Leopard Toad and other animals is, without exaggerating, on a
knife edge. The road is to be built on a road reserve which was proclaimed
many years ago, before environmental concerns were of any importance,
certainly before the importance of wetlands and biodiversity were understood
and enjoyed the prominence that they have today."

 

Masiphumelele

 

In replying papers, the City points out that Kommetjie Road is one of Cape
Town's top three congestion hotspots. It argues that construction of the new
road is "essential" and "a vital intervention to ease traffic congestion in
the Kommetjie road network and to integrate, both spatially and
commercially, the historically segregated Masiphumelele into the
Noordhoek-Kommetjie Valley".

 

"The unchecked encroachment of Masiphumelele into the habitat of the Western
Leopard Toad represents a far more fundamental threat to the existence of
the toad than what will be a permeable roadway on only one of four sides of
the wetland.

 

"The City is, as a result, significantly constrained in its ability to
deliver municipal and emergency services to Masiphumelele."

 

The Western Cape's Department of Environmental Affairs and Development
Planning approved the HAE1 project in November 2019 when director Zaahir
Toefy issued the EA. He is the sixth respondent in the case.

 

Western Cape Environment MEC Anton Bredell, who in September 2020 refused
NEAG's appeal against the EA, is the second respondent.

 

The City's environmental practitioner for the project, Chand Environmental
Consultancy, is the third respondent, and the consultancy's two employees,
Ingrid Eggert and Sadia Chand, are fourth and fifth respondents
respectively.

 

Roadkill

 

In his Heads of Argument, NEAG's counsel, advocate Murray Bridgman, says the
environmental group acknowledges that the presence and influence of
Masiphumelele is "large and important", and notes that it is not challenging
that second part of the project, Houmoed Avenue Extension 2 (HAE2).

 

"It is a matter of record that the wetland adjacent to Masiphumelele is to
all intents and purposes 'dead'," Bridgman states. "For this reason NEAG and
ToadNuts [an associated local specialist toad conservation group] have no
objection to the construction of HAE2, the portion of road which is intended
to provide a hard boundary between Masiphumelele and the wetland, and [to]
end the ever-encroaching shacks on stilts further and further into the
wetland."

 

He says breeding Pond 2 in particular will be "drastically" affected by
HAE1.

 

"Roadkill will be an enormous factor. Pollution and noise by themselves
could destroy Pond 2 as a breeding pond. The effect of the two-and-a-half
year construction period is unknown.

 

 

"The fact is that the road reserve is only 10 metres wide in most places,
sufficient for a small suburban road, but not for the proposed HAE1 which is
20 metres wide and is designed for heavy rush hour traffic."

 

NEAG contends that its application can be easily resolved, Bridgman
continues, "on the basis of the straightforward fact that there is no expert
study on the impact that the construction of the road will have on the
Western Leopard Toad". He calls this omission "a fatal flaw which is
incapable of correction", and argues that it contravenes National
Environmental Management Act (NEMA) regulations - "particularly as the
Western Leopard Toad is an endangered species".

 

"Vital information was not included in the environmental assessment ... and
vital information was therefore not put before the decision-makers. It is
not possible to do an ex post facto expert study."

 

Experts

 

In their Heads of Argument, counsel for the City, advocates Michael Edmunds
and Jane Blomkamp, say it is common cause that there is a population of
Western Leopard Toads in the affected area and it is probable that these
toads breed in one or more of three small ponds in the wetland near the HAE1
route.

 

But they argue that the potential impact of the project on the toads was
indeed flagged as an important issue from the outset of the environmental
assessment process, and that toad-related impacts were assessed by two
"pre-eminent specialists": faunal expert Simon Todd and wetland ecologist
Dean Ollis) "through the lens of their two different disciplines".

 

Both investigations "converged" on several findings and recommendations,
some of which are:

 

construction of the road could affect the toads through habitat loss,
habitat degradation and road mortality;

the potential impact on toads does not amount to a fatal flaw in the project
proposal but should nonetheless be mitigated;

further necessary mitigation measures will include road design that enables
safe passage by toads and toadlets across the road, and concerted efforts to
conserve and protect the breeding ponds;

a landscape architect experienced in rehabilitation and a freshwater
ecologist must be involved in conceiving and implementing the rehabilitation
plan; and

an amphibian specialist must be involved in the optimisation of the road
design, and for monitoring and reporting on mitigations measures for five
years.

"We submit that the specialist studies pertaining to the Western Leopard
Toad produced credible findings and recommendations and provided a
satisfactory basis for the decisions taken by the Director [Toefy] and the
MEC [Bredell]," Edmunds and Blomkamp argue.

 

"In summary, the deponents have failed to identify a single respect in which
the public participation process failed to comply with [environmental]
regulations. We submit there is no basis whatsoever for the allegation that
the basic assessment process was procedurally unfair."

 

-GroundUp.

 

 

 

 

Namibia: Small-Scale Miners Want Equipment From Govt

A small-scale miner in the Erongo region has called on the government to
assist them with mining machinery because a lack of equipment hampers their
work.

 

Sakarias Daniel made the plea during a one-day workshop on environmental
governance compliance on small-scale mining held at Karibib last week.

 

Daniel said while the government asks small-scale miners to adhere to the
laws and regulations governing small-scale mining activities, it should also
assist them with proper tools to do their work smoothly, and thus contribute
to economic development.

 

 

He said at the moment, small-scale miners are struggling to do their work
without the necessary equipment.

 

"The government is always asking us to meet them halfway, they should also
meet small-scale miners halfway," he said.

 

His plea followed a presentation by mining economist from the Ministry of
Mines and Energy Julia Alfeus, who spoke on reporting requirements for
mining claim holders.

 

Alfeus said small-scale miners need to have an export permit to pay
loyalties based on their sales, which have to be done at fair and reasonable
prices.

 

She said when selling semi-precious stones to tourists, small-scale miners
need to get passport copies of the tourists, while a destination where the
stones are to be taken too also needs to be established.

 

She said the ministry currently faces a number of challenges such as
non-submission of mining reports on time.

 

 

"Some small-scale miners do not report on their production," she said.

 

Small-scale miner Imaks Areseb said the biggest problem his company faces is
a lack of machinery to mine semi-precious stones.

 

He said mining equipment is very expensive and it would be a good thing if
the government can assist with machinery.

 

"What we have is just tools and the work is very difficult," he said.

 

Areseb said his company, Daures Investment CC, is prospecting for
semi-precious stones in the Erongo region.

 

Minsozi Sibeso, the director of the ministry's small-scale mining division,
says the government previously assisted some small-scale miners with
equipment, but there is no agreement compelling it to continue doing so, as
mining equipment is very expensive.

 

She called for collaboration between the small-scale miners and the
government.

 

The workshop was organised by the Ministry of Mines and Energy and funded by
the United Nations Development Programme (UNDP) in Namibia under the
project, 'Strengthening Environmental Governance and Improving Health and
Safety in Critical Small-Scale Mining Hotspots in Namibia'.

 

The project is embedded in UNDP's Sustainable Environmental Management for
Enhanced Resilience portfolio, with focus areas under climate change
adaptation, environment and waste management, climate change mitigation and
natural resources management and sustainable livelihoods.

 

-Namibian.

 

 

 

 

Namibia: Agronomic Board Revises Horticulture Imports

The Namibian Agronomic Board (NAB) has revised the number of crops closed
for importation from 12 to seven out of a total of 20 on the special import
permit for the period 1-30 November.

 

This is an indication that Namibian horticultural producers will not be able
to meet the country's demand for all these crops during November.

 

Removed from the original list of crops that were closed for importation
from 1- 30 November, are English cucumber, green pepper, jam tomato,
cocktail/cherry mini plum tomato, as well as lettuce (iceberg).

 

According to a notice to all horticulture traders signed by NAB chief
executive Fidelis Mwazi on 2 November, the revision of the importation list
is in line with the Agronomic Industry Act and the Namibian Horticulture
Market Share Promotion Scheme rules and regulations.

 

 

These are part of efforts by the regulator to protect Namibia's nascent
industry from competition from cheap imports that might flood the market.

 

Mwazi directed that the border be closed to the importation of all types and
sizes of beetroot, cabbage and carrot, except for exclusions.

 

He also closed the border for the importation of coloured pepper although
green pepper has been moved to the pro rata category, with 20% importation
of all types and sizes to make up for shortfalls in local production.

 

Onion remained on the list of closed products, as well as watermelons and
sweet melons, as local producers are expected to meet demand for these
products.

 

 

Butternut has been moved to the open category where importation is
unrestricted except for exclusions from 1-15 November. Sweetcorn can also be
imported without restriction from 1-15 November only and the 47% market
share promotion (MSP) applies.

 

"Gem squash, potato washed pumpkin and sweet potato are open for importation
without restriction for the whole of November but the 47% MSP applies,"
noted Mwazi in the statement.

 

In addition to opening the border for the importation of some products that
could not be produced locally in sufficient quantities, Mwazi put the
importation of seven crops on a pro rata basis.

 

Besides green pepper at 20%, all types and sizes of English cucumber can be
imported at 30% of normal requirements, except for exclusions.

 

Mwazi imposed 50% importation for all types and sizes of jam tomato,
cocktail/cherry/mini plum tomato, as well as the round tomato, except for
exclusions.

 

The importation of all types and sizes of lettuce (iceberg) was set at 50%
of normal requirements, except for the exclusions from 1-15 November.

 

"To supplement local production, only 20% importation for all types and
sizes of spinach will be allowed for the month of November," said Mwazi. -
Email: matthew at namibian.com.na

 

-Namibian.

 

 

 

 

Mozambique: - Health Workers Guarantee Services for Another 15 Days

Maputo — The Association of United Health Professionals of Mozambique
(APSUM) - which claims to represent nurses, laboratory technicians, drivers
and other health sector professionals - guaranteed on Monday that its
members will not go back on strike in the next 15 days.

 

The APSUM chairperson, Anselmo Muchave, told the press on Monday, in Maputo,
that "we have suspended the strike for another 15 days, until 18 November.'

 

The suspension period for the health workers' strike ended on Sunday, but
APSUM opted to extend the suspension.

 

According to Muchave, the suspension is the result of progress made in the
negotiations between APSUM and the government.

 

"In order not to mix up our concerns and the demands resulting from the
announcement of the election results, the health professionals are waiting
peacefully in their workplaces until the situation normalizes so that they
can address their demands', he said.

 

He urged all health professionals to be serene, vigilant, humble and
supportive, to remain at their posts and wait for information from the
ongoing dialogue.

 

Muchave called on the government to continue to resolve the association's
problems, in order to avoid a possible return to strike action, especially
during the approaching festive season.

 

 

 

Mozambique: - Authorities Seize 22 Guns From Security Company in Beira

Maputo — The Mozambican Attorney General's Office (PGR) has ordered the
seizure of 22 firearms belonging to the Chinese-owned private security
company, Gigante Panda Segurança, based in the central city of Beira.

 

The PGR also ordered that the firearms that belonged to the company owned by
Chinese national, Jiye Zhuo, should be taken to the General Command of the
Mozambican Police (PRM).

 

The company has been accused of money laundering, financing of terrorism,
tax evasion and forgery of documents, among other crimes.

 

According to the Beira city chief prosecutor, José Curado, the criminal case
is currently in the pre-trial phase, at a time when the whereabouts of the
Chinese businessman are unknown, and efforts are being made to locate him.

 

 

Curado pointed out that the case has, in the meantime, suffered some
setbacks due to alleged leaks, making due diligence extremely difficult.

 

The prosecutor guaranteed that all the other companies owned by this
businessman have been closed down by the authorities.

 

Meanwhile, over 3,000 workers at Gigante Panda Segurança are already
demanding six months' back pay and recently rioted outside the company's
premises.

 

The first two companies owned by this investor were closed down at the end
of last year, namely fuel pumps at Sena, in Caia district, on the south bank
of the Zambezi.

 

As for the forgery documents, Jiye Zhuo has an identity card indicating that
he is a Mozambican citizen from the Sofala district of Búzi.

 

On the basis of this document, he obtained several others, including a
driving license, which he has used to open over 10 companies since 2015.

 

The Sofala prosecutor's office has already assured that the absence of the
accused does not hinder the investigations and that the justice system is
gathering evidence to hold him and his accomplices responsible for all the
crimes they committed.

 

Jiye Zhuo is estimated to have defrauded the Mozambican state of more than
826 million meticais (about 13 million US dollars), in tax evasion.

 

 

 

 

'I blew the whistle on Meta, now I won't work again'

A former senior staff member at Meta said Instagram is not doing enough to
protect teens from sexual harassment.

 

Arturo Béjar, who is testifying in front of the US Congress on Tuesday, said
he thinks whistleblowing means he will never work in the industry again.

 

He worked for Meta, which owns Instagram and Facebook, between 2009 and
2015, and again from 2019 to 2021.

 

Meta said it had brought in "over 30 tools" to support a safe environment
for teens online.

 

Mr Béjar said that part of his job was working to help better protect people
online. He thought that things were going in the right direction before he
left the company in 2015. However, he first realised that there was a
problem with it - when he saw his daughter's experience of Instagram.

 

Speaking to the BBC in an exclusive UK interview, he said "shortly after she
went on Instagram, she started getting unwanted sexual advances - misogyny,
harassment at 14."

 

He said: "When we would talk about this... it turns out that all of her
friends were experiencing the same. I was shocked. She said there was
nothing [she] could do, because [she] had no option to report it."

 

Mr Béjar hopes that discussing his experience and that of his daughter in US
Congress will help give lawmakers the information they need to take action.

 

"We're in a very extraordinary time where there's consensus across the
political spectrum about the urgency and necessity of passing legislation
that protects our kids, all of our kids," he said.

 

He said it would be "easy" for Meta to implement a button specifically to
let teens flag messages as sexual advances.

 

'No transparency'

"I can speak first hand about how easy it is to build a button and a
counter," Mr Béjar said.

 

"I believe that the reason that they're not doing this is because there's no
transparency about the harms that teenagers are experiencing on Instagram.

 

"And that's why I'm coming forward right now... this is my retirement from
technology."

 

Currently, people can report Instagram messages for a range of reasons,
including for containing "sexual exploitation or solicitation".

 

A Meta spokesperson told the BBC it has created several features to protect
teens online, such as implementing anonymous notifications of potentially
hurtful content.

 

"Every day countless people inside and outside of Meta are working on how to
help keep young people safe online," they said.

 

"Working with parents and experts, we have also introduced over 30 tools to
support teens and their families in having safe, positive experiences
online."

 

In 2021, Instagram introduced measures including making under-16 user
accounts private by default and only letting older users message teens who
followed them.

 

'The least that we can do'

Mr Béjar, who was director of engineering at Facebook and responsible for
its "protect and care team", said tools implemented by Instagram didn't go
far enough, and were instead a "placebo for press and regulators".

 

"They're not based on the data of what people are experiencing," he said.

 

"What you would expect to be able to ask them on this is, what percentage of
teens experienced unwanted sexual advances?

 

"If you go into [Instagram] messages, I could not find any option that says:
this is an unwanted advance."

 

According to the whistleblower, building a button that teens feel
comfortable pressing is "the least that we can do", because he claims the
"report" button on Instagram may be underused.

 

"Research we did in 2011 shows that 13-year-olds are uncomfortable with the
word report, because they worry that they will get themselves or somebody
else in trouble," he said.

 

"Imagine you're a 13-year-old, and you get an unwanted sexual advance - how
uncomfortable that is, how intense that experience is, and there's nothing
that they can use to say: 'can you please help me with this?'

 

"If that button was available, then there would be data about who's
initiating those contacts."

 

Meeting with Mosseri

Mr Béjar said he gathered information about this and went to "the top
people" at Meta, including Instagram chief Adam Mosseri, to discuss his
concerns in 2021.

 

"I came out of that meeting feeling like Adam completely understood the
issue, to the point where we talked about how you would design that button,"
he said.

 

"But I was not sure whether they were going to act on it."

 

He claimed that internal statistics showed one-in-eight 13 to 15-year-olds
had experienced an unwanted sexual advance on Instagram within a week.

 

The BBC has seen documents which show Mr Béjar flagged this statistic to Mr
Mosseri.

 

"I deeply felt that they had a responsibility now," he said.

 

"I asked Adam in an email... what should be an acceptable number or
percentage of 13 to 15-year-olds who receive an unwanted sexual advance?

 

"Social media should not be a place where a kid receives those kinds of
things."

 

Hundreds of lawsuits

Meta, and other social media companies, are facing lawsuits in the US over
the impact of social media platforms on teen mental health.

 

In October, dozens of US states filed a lawsuit arguing Meta had misled the
public over risks of social media use and had contributed to a youth mental
health crisis.

 

At the time, a spokesperson for Meta said: "We're disappointed that instead
of working productively with companies across the industry to create clear,
age-appropriate standards for the many apps teens use, the attorneys general
have chosen this path."

 

It followed an investigation in 2021 by several state prosecutors, after
whistleblower Frances Haugen testified in the US that Meta knew its products
could harm children.

 

Ms Haugen's testimony followed a 2021 Wall Street Journal report leaking
internal studies from the firm which it said showed teenagers blamed
Instagram for increased levels of anxiety and depression.

 

Instagram published a lengthy blog defending its research in response to the
report, and said it focused "on a limited set of findings and casts them in
a negative light".

 

"The research actually demonstrated that many teens we heard from feel that
using Instagram helps them when they are struggling with the kinds of hard
moments and issues teenagers have always faced," Pratiti Raychoudhury, vice
president and head of research at Meta said at the time.-bbc

 

 

 

 

How WeWork’s founder flew too close to the sun

The story of Adam Neumann and the rise and fall of WeWork reads more like a
parable than a business story.

 

A tale of monstrous ego, vaulting ambition and a credulous public.

 

Adam Neumann was the tall, handsome, barefoot, tequila-shooting,
weed-smoking Svengali who booked rap stars for the office party, had
aspirations to live forever, become the world's first trillionaire and
expand his company to Mars.

 

That seems a million miles from humbling reality, as the company that became
the largest tenant of office space in New York and London files for
bankruptcy protection from the very landlords who once adored it.

 

It started with a solid, proven idea pitch-perfectly retuned for its time.

 

A space to work for those who wanted more than a coffee bar but less than an
office was not a new idea. Regus (now IWG) was founded in the late 1980s.

 

But when WeWork was founded in 2010 the conditions were perfect.

 

Commercial premises had emptied out as the financial crisis saw even some of
the biggest businesses fold. Landlords were desperate.

 

There was an army of laid-off workers trying to find a way to rebuild their
careers and thanks to mobile technology could work anywhere.

 

Rock-bottom interest rates meant you could borrow to fund expansion cheaply.

 

And investors with FOMO - fear of missing out - were prepared to pay almost
anything in case they missed the next Amazon, Google or Facebook.

 

Throw some fun into the mix - by serving free beer and playing music for a
younger crowd embracing new and blurred lines between work and personal life
- and you had the formula for a company that, to its fans, felt more like a
movement than a business.

 

At the heart of it all was Neumann. He arrived in New York in 2001 after
growing up in a kibbutz in Israel. He went to business school and, while
there, he had a number of bright ideas including a women's shoe with a
collapsible heel and a company making baby trousers with knee pads.

 

But in 2008, to save costs he rented out half his own office space to
someone else and then he and a friend persuaded the landlord to let them
divide up some floors of an empty building and rent them out. This business
was called Greendesk - it served free fairtrade coffee and celebrated
kibbutz-style, communal living.

 

Young, groovy freelancers flocked in and Neumann realised he was on to
something.

 

Taking a page from the Jeff Bezos playbook, the company gets get big fast
with the help of a friendly real estate developer who invests $15m (£12m)
for a 33% stake. He changes the name to WeWork and the ball is rolling.

 

Investors pile in, including one of the world's biggest tech investors,
Softbank, pumping the value up to $47bn (£38bn) over the next seven years.

 

Neumann wowed audiences and investors with his vision. He continues to
expand into over 20 countries, he buys a gulfstream jet, hires P Diddy for
the office party. But the company was losing £200,000 an hour.

 

Although people point to the pandemic and the recent rise in interest rates
as WeWork killers, the start of its decline was well before either.

 

People started asking awkward questions about why a company that sublet
office space was being valued like a technology company.

 

In 2017 the Wall Street Journal said the company was "fuelled by Silicon
Valley pixie dust".

 

WeWork was in fact playing a game that has proved dangerous time and again.

 

Buying long and selling short. That meant buying up huge amounts of
long-term office space leases in prime locations and hoping that you can
find enough short-term tenants to cover your own expenses, plus a profit.

 

But it is arguably only when Neumann decides to sell shares in an initial
public offering (IPO) in 2019 that the veil falls. Documents filed with the
authorities revealed bigger losses than thought and an odd relationship
between the company's finances and Neumann's own.

 

The IPO bombed. WeWork's value fell by $40bn within a few months and Neumann
resigned as chief executive shortly afterwards. Six months later, Covid hit
and the landscape for shared working changed dramatically.

 

Neumann ultimately did a pretty good job of disentangling his own finances
from that of the company he founded. WeWork is currently worth about $50m -
roughly a thousandth of its peak value. Neumann himself walked away with
over a billion dollars - more than 20 times what the company is currently
worth.

 

This pied piper who enchanted some of the world's biggest and supposedly
smartest investors has moved on. He has investments in dozens of companies
and recently secured a $350m backing from another big name, venture capital
firm Andreessen Horowitz.

 

To return to our parable - he flew too close to the sun. But it wasn't the
wax on his wings that melted.-bbc

 

 

 

 

Optus outage: Millions affected by Australian network issues

Millions of Australians have been left without mobile and internet after a
network failure at telecommunications giant Optus.

 

Optus is the country's second-largest provider, with more than 10 million
individual customers and hundreds of thousands more businesses.

 

The outage has caused transport delays, cut hospital phone lines, and downed
payment systems.

 

Its cause is unclear, but Optus says there is no evidence of a cyber attack.

 

The company made last year suffered what was believed to be the biggest data
breach in Australian history, as a result of a cyber attack.

 

The disruption left people across the country unable to call emergency
services and critical helpline numbers, while also temporarily crippling
train services in the state of Victoria and some hospital communications.

 

Wednesday's disruption was reported around 04:00 (17:00 GMT). In an update
seven hours later, CEO Kelly Bayer Rosmarin said her team had not yet
identified what went wrong.

 

"The teams are trying many different angles and we will not rest until the
service is back up for our customers," she said, calling in to local radio
via WhatsApp.

 

The firm later said that it had started restoring some of its services.

 

The disruption was also affecting other providers which use the Optus
network, including Amaysim, Aussie Broadband, Moose Mobile, and more.

 

One Optus customer told the Australian Broadcasting Corporation the incident
has left her unable to receive important updates about her father's cancer
treatment.

 

"I'm just waiting for results, and I can't even get those through," Danielle
Hopwood said.

 

Another customer, Annie, told local radio she found out about the disruption
when her cat's automatic Wi-Fi-enabled feeder failed.

 

Australia's Communications Minister, Michelle Rowland, said it has been an
anxious morning for many Australians and called for the company to be
transparent and "timely" in their updates to customers.

 

"My understanding is that this is a fault deep in the core... so it is a
fault that is quite fundamental to the network," she said.

 

Ms Bayer Rosmarin has apologised for the disruption and said the company
will provide updates throughout the day.

 

-bbc

 

 

 

What is the TikTok creativity program beta?

If you've noticed TikTok videos getting longer recently, there's a reason.

 

The platform has announced it'll be removing its $2bn (£1.6bn) creator fund
from 16 December.

 

It's being replaced by the creativity program beta, which the app's bosses
say will make more chances to earn income, but only for uploads that are
over one minute long.

 

Some popular TikTokers say the new system is confusing and have complained
that the amounts paid vary massively.

 

What is the TikTok creativity program beta?

TikTok's creator fund was set up in 2020 and promised to pay users for
uploads, but lots of creators said they didn't make much from it.

 

The new creativity program is open to users from selected countries who have
at least 10,000 followers and at least 100,000 views within 30 days.

 

TikTok claims the new system can pay out up to 20 times more than the old
creator fund.

 

This a change for the app, which became popular thanks to its shortform
videos, but the platform's recently made moves towards longer uploads and
more livestreaming.

 

Longer videos means more engagement, boosting the amount of time people
spend on TikTok.

 

What's your RPM?

You might have seen lots of videos from creators discussing RPM, or Revenue
Per Mille, since TikTok started testing out the new system earlier this
year.

 

It's an amount paid for every 1,000 "qualified" views - people have to watch
for a certain amount of time for it to count.

 

So if your RPM was £0.20, and you got 100,000 views, you'd make £20.

 

The reason some creators have been complaining about this is because the
amount seems to vary quite randomly.

 

Dylan Page, also known as the News Daddy, has 9.9m TikTok followers, with
videos that regularly attract millions of views.

 

But he complained that his RPM was just £0.05 - much lower than others with
tiny followings compared to his.

 

He also accused the platform of supressing his videos from feeds - something
TikTok denies.

 

How are RPMs calculated?

A young man stands in front of a black board with the Manchester United club
crest on it. He's taking a selfie, holding the camera slightly above head
height and pointed down towards him. His hair is short and styled in neat
curls. The club crest is a yellow shield with a red devil on it, surrounded
by banners with the team's name written along the top and bottom.

 

TikTok says a variety of factors, including engagement, authenticity, the
region where videos are viewed and adherence to community guidelines
influence RPMs.

 

It also says that views and followers aren't affected at all, and everyone
is subject to the same "recommendation strategies" as all other videos on
TikTok.

 

One TikToker who says the creativity program is a "positive change" is Zayn
Farooqui, also known as Zaynqf.

 

His football-related content has 1.5m followers, and he says his main source
of income used to come from deals with brands.

 

Getting there took a lot of work, he says, and he thinks that making it
easier to get paid, even though most people will only make fairly small
amounts, is a "huge incentive" to make content.

 

And Zayn admits that the new system means he's having to make longer videos
to comply with the new system, changing his approach to his channel.

 

"If my videos are a minute long, and they don't have good views, I will take
that as 'okay, my audiences isn't enjoying this, let me try something
else'," he says.

 

"I really think it's in your own hands."

 

What do TikTok say?

A spokesperson for TikTok told BBC Newsbeat it welcomed feedback from users
on the changes.

 

"The creativity program was developed based on the learnings and feedback
we've gained from the previous creator fund," they said.

 

"As we continue developing new ways to reward creators and enrich the TikTok
experience, we value the feedback and direct insights from our community to
help inform our decisions."-bbc

 

 

 

Christie's sells rare blue diamond for over $40m

A very rare blue diamond sold for over $40m (£32m) at a Christie's auction
in Geneva, news agencies said.

 

The 17.61 carat, pear-shaped Bleu Royal diamond, set in a ring, fetched
$43.8 million, they said.

 

It is the "largest internally flawless fancy vivid blue gem" ever to appear
for sale in auction history, Christie's said..

 

Part of a private collection for 50 years, it was the first time the Bleu
Royal was sold at an auction.

 

"This diamond is amongst the rarest to have been unearthed," the auction
house said in a statement.

 

Christie's said only three fancy vivid blue diamonds over 10 carats had
appeared for sale in its 250-year auction history, in 2010, 2014 and 2016.

 

The 14.62 carat Oppenheimer Blue sold for over $57 million in 2016,
according to Christie's.

 

"We are extremely pleased," Max Fawcett, Christie's head of jewellery in
Geneva told AFP of Tuesday's sale, adding it was the "the most expensive
jewellery lot sold in all of 2023" by any auction house worldwide.

 

On Monday, Christie's sold a Rolex watch worn by US actor Marlon Brando in
the film Apocalypse Now for about $5m, news agencies reported. "M. Brando"
was hand-engraved on the back of the watch, Christies said.

 

Separately, Christie's is carrying out an online sale of a pearl necklace
worn by Audrey Hepburn in the final scene of the film "Roman Holiday". The
sale is taking place between 3 and 16 November.-bbc

 

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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

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

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

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Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

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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