Major International Business Headlines Brief::: 01 September 2023

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Major International Business Headlines Brief::: 01 September 2023 

 


 

 


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

 


 

 


 

ü  Eritrea: 'Let's Harness Infinite Energy Instead of Suffering From Finite
Energy Shortages' - Mr. Abraham's Vision

ü  Tanzania: Uhuru Torch Race to Inspect 26 Projects in Rukwa

ü  Egypt-Sudan Trade Exchange Recorded $1.4 Bln. in 2022 - Capmas

ü  Nigeria: Special Report - Ogun Farmers Count Losses As Oil Spills From
Vandalised Pipelines Destroy Farmlands

ü  Liberia: Technical Issues Disrupt Electricity Token Vending in Liberia

ü  South Africa: Harmony Gold's Annual Earnings Soar As Mponeng, World's
Deepest Mine, Delivers

ü  Kenya Pipeline Completes Takeover of Changamwe-Based Kenya Petroleum
Refineries Limited Facility

ü  Kenya: Data Commissioner Kassait on the Spot for Endorsing Worldcoin
Activities

ü  Kenya Hosts First Pan-African Conference to Accelerate Growth of Medical
Technology Development

ü  Kenya Joins Efforts to Have Free Trade Area Across All African Countries

ü  Ukraine war: UK arms giant BAE Systems sets up local business

ü  Anonymous Sudan hacks X to put pressure on Elon Musk over Starlink

ü  Mark Thompson: CNN appoints former BBC director general as chief
executive

 


 

 


 

 <https://www.cloverleaf.co.zw/> Eritrea: 'Let's Harness Infinite Energy
Instead of Suffering From Finite Energy Shortages' - Mr. Abraham's Vision

Driven by his passion for energy conservation and environmental protection,
Engineer Abraham Tekle has pioneered the development of a groundbreaking
invention - the "Solar Oven." The innovation taps on a readily available and
abundant energy source, solar power, to address the pressing need of
sustainable cooking solutions.

 

Introduction and Background

 

I studied Mechanical Engineering in college and have had nearly 18 years of
service at the Ministry of Public Works, specifically in the Civil
Engineering Department, I have focused on sustainable practices. My academic
journey led me to Japan, where I dedicated three years to studying Renewable
Energy and Environmental Engineering.

 

 

The Spark of Innovation:

 

The idea behind the Solar Oven was ignited by the immense potential of solar
energy. Solar power is not only environment-friendly, evenly distributed and
inexhaustible, but it also aligns with existing technology. Having
recognized its significance for both cooking and heating applications, I
embarked on this journey in 2003 which culminated in the realization of the
Solar Oven project in 2018.

 

Addressing Core Challenges:

 

My role as an engineer centers around problem-solving, and the Solar Oven
project embodies this principle. This invention is rooted in two fundamental
elements crucial for our world's survival - energy and water. Astonishingly,
66%-70% of our country's energy consumption occurs within kitchens.

 

Unveiling the Mechanism:

 

The Solar Oven comprises four essential components: a vacuum tube, frame,
reflector, and food tray. The vacuum tube, a two-layered glass, facilitates
cooking, while the frame holds the components together. The reflector
captures solar irradiance, focusing it onto the vacuum tube to generate
sensible heat.

 

Application and Versatility:

 

Through rigorous experimentation, I have demonstrated that you can make a
diverse range of dishes on the Solar Oven. The Solar Oven's utility extends
to serving as an autoclave for sterilizing medical equipment, especially in
rural hospitals. Its portability also makes it ideal for camping
enthusiasts.

 

Target Audience:

 

Presently, the Solar Oven project aims to benefit families with five
members. This innovation lightens their cooking workload by harnessing the
power of the sun, and it can be used to make various types of baked dishes.
It is aligned with my goal of bridging the gap between urban and rural
kitchens, replacing traditional cooking methods using firewood and fossil
fuel.

 

 

Advantages of the Invention:

 

Solar ovens present a compelling alternative to wood-fueled stoves in
regions with scarce fuel resources and abundant sunlight. This approach
contributes to mitigating deforestation and desertification. Remarkably, the
project aligns with six Sustainable Development Goals for 2030, including
poverty reduction, health improvements, enhanced education access, climate
action, gender equality, and affordable clean energy.

 

A Trailblazing Path:

 

The Solar Oven's distinct attributes, such as affordability, high
efficiency, compactness, and adaptability to adverse conditions, position us
as pioneers within our community.

 

Operational Recommendations:

 

Users must note a critical operational aspect: avoiding abrupt temperature
differentials that could fracture the glass. Matching the dish and glass
temperatures is crucial to prevent damage. Fortunately, the glass is
replaceable, ensuring long-term functionality.

 

Public Reception and Future Prospects:

 

The public's response at Festival Eritrea held at the Expo grounds was
overwhelmingly positive. This experience reinforces the public's enthusiasm
for innovative solutions that positively impact their lives.

 

Concluding Thoughts:

 

I firmly believe that the Solar Oven holds potential not only for Eritrea
but also for sub-Saharan African countries. I urge stakeholders to give
priority to this sector, leveraging the abundant solar resources available
in equatorial regions. I'm open to collaborating with interested parties to
enhance, develop, and expand the project, with my sights set on venturing
into solar water distillation. Let's harness infinite energy intelligently
and liberate ourselves from finite energy constraints.

 

Thank you for your time, Mr. Abraham

 

-Shabait.

 

 

 

 

Tanzania: Uhuru Torch Race to Inspect 26 Projects in Rukwa

Nkasi — THE Uhuru Torch Race arrived in Rukwa Region on Tuesday and is
scheduled to inspect 26 development projects valued at 14.4bn/-.

 

It will also lay foundation stones and launch various development schemes.

 

The reception of Uhuru Torch was held at Kizi village in Nkasi District
bordering Rukwa and Katavi Regions.

 

Sumbawanga District Commissioner Mr Sixtus Mapunda received the Uhuru Torch
from his counterpart Mlele District Commissioner Alhaj Majid Mwanga.

 

At the reception of the Uhuru Torch Mr Mapunda represented Rukwa Regional
Commissioner Mr Charles Makongoro Nyerere while Alhaj Mwanga represented
Katavi Regional Commissioner Ms Mwanamvua Mrindoko

 

 

Mr Mapunda said the torch race will cover 778.8 kms and will inspect various
development projects worth over 14.4bn/- to ensure quality and value for
money on development schemes.

 

Equally, wananchi have contributed 101.2m/- equivalent to 0.70 per cent,
four councils have contributed 484.97m/- equivalent to 3.36 per cent,
central government 13.4bn/- equivalent to 92.97 per cent and contribution
from development stakeholders and donors is amounting to 428.8/- which is
equivalent to 2.97 per cent

 

Giving a breakdown, Mr Mapunda said the Uhuru Torch during its race in Rukwa
Region will inspect water projects implemented by The Rural Water Supply and
Sanitation Agency (RUWASA) valued at over 6.8bn/, road infrastructures
undertaken by the Rural and Urban Roads Agency (TARURA) worth 3bn/- and
education projects valued at 1.4bn/-

 

Others on the lists are health projects worth 15bn/- and agriculture,
livestock and fishery projects 15bn/

 

"During its race the Uhuru Torch will inspect and launch project for
empowering youths worth 104m/ - and environment projects valued 5m/-," he
added.

 

He further said that basing on the 2023 theme for Uhuru Torch race, which
emphasises on caring for the environment, protecting water sources among
others the region has implemented several projects.

 

"The Torch symbolises Tanzania inside and outside the borders as well as
motivating effective implementation of the development projects," emphasised
the DC.

 

Speaking after arriving in Rukwa Region the national leader of Uhuru Torch
race Mr Abdullah Shaibu Karim lauded the regional administration for
receiving them warmly.

 

The Uhuru torch is a national symbol in Tanzania depicting freedom,
equality, integrity, respect for human dignity, peace, hope and
strengthening union between mainland Tanzania and Zanzibar.

 

The lighting of the Uhuru torch was made on National Independence Day on 9
December 1961 by the first President Mwl Julius Nyerere and later taken to
the top of Mount Kilimanjaro as a symbol of national illumination.

 

The Uhuru torch aimed to enlighten and awaken the sense of nationalism, to
illuminate the nation by saying 'no' to poverty, inequality, illiteracy,
diseases, ethnicity and racialism.

 

Since then, the torch has been carried through the country every year from
March/April to October, passing through all districts to enhance development
activities.

 

To underscore its importance, the government budgets the cost for the
nationwide run under the president's office, which also appoints the
torch-running team and its leaders.

 

-Daily News.

 

 

 

 

Egypt-Sudan Trade Exchange Recorded $1.4 Bln. in 2022 - Capmas

Data from the Central Agency for Public Mobilization and Statistics (CAPMAS)
showed on Tuesday 29/8/2023 an increase in the value of trade exchange
between Egypt and Sudan to record $1.4 billion in 2022, compared to $1.2
billion in 2021, an increase of 18.7%.

 

The value of Egyptian exports to Sudan increased to reach $929.2 million in
2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of
Egyptian imports from Sudan reached $509.4 million in 2022, compared to
$385.6 million in 2021, an increase of 32.1%.

 

Among the most important commodity groups that Egypt exported to Sudan
during 2022

 

Fertilizers worth $159.3 million.

 

Plastics with a value of $123.8 million.

 

Mill products worth $75.5 million.

 

-Egypt Online.

 

 

 

 

Nigeria: Special Report - Ogun Farmers Count Losses As Oil Spills From
Vandalised Pipelines Destroy Farmlands

Many farmers in Ogun State have been forced to change occupations after oil
spillage caused by vandalism of NNPC pipelines destroyed their farmlands

 

Samsom Odeyemi wistfully recalls when he was a successful farmer in his
native community of Itajirin in the Ogere Remo area of Ogun State. Mr
Odeyemi earned millions of naira annually from his 15-hectare farm where he
produced rice, vegetable and pepper. All that was lost about six years ago,
when petrol started seeping into the farm from a vandalised pipeline of the
Nigerian National Petroleum Corporation (NNPC), now Nigerian National
Petroleum Company Limited.

 

 

The contamination quickly destroyed the farm and Mr Odeyemi now ekes out a
living by selling water in the community.

 

It was the same experience for Senanou Yaovi, whose seven-hectare maize and
pepper farm was gutted by fire after oil spewed into it about five years
ago, and Solaru Oluwole, a mother of five, whose farmland was also ravaged
by wildfire in April 2018 after it was polluted by petrol.

 

In Itajirin, many others also abandoned farming after oil spills destroyed
their farmlands. However, the experience is not peculiar to the Ogun State
community.

 

Intractable problem

 

Between 2015 to 2022, Nigeria's National Oil Spill Detection and Response
Agency (NOSDRA) recorded 4,440 combined oil spills. The spilt content (often
crude oil but in some cases like in Ogun State, refined products like
petrol) totalled 208,406.603 barrels. That is, about 1,257 tanker truckloads
of petroleum products spewed into the environment. Many farmers, like the
Messrs Odeyemi, Yaovi and Oluwole in Itajirin, have felt the direct impact
of the oil spills on their livelihoods.

 

The Group Chief Executive Officer of Nigerian National Petroleum Corporation
(NNPC), Mele Kyari, recently said the petroleum company loses about 200,000
barrels of oil to pipeline vandalism on a daily basis. Data also indicates
that apart from the economic sabotage, commercial farmers bear the brunt of
the criminality.

 

About 850 pipeline points were vandalised between 2015 to 2018, data from
the NNPC Monthly Financial and Operations Report (MFOR) states. The monthly
financial report also indicated that 1,161 pipeline points were vandalised
across the country between January 2019 and September 2020.

 

Five pipeline axes between Port Harcourt, Mosimi-Ibadan, Gombe, Kaduna and
Warri-River Niger were vandalised between January 2019 and September 2020.
The Port Harcourt axis of the pipelines recorded the largest share of the
damaged points with 538 points affected.

 

 

Closely following it is the Mosimi-Ibadan axis with 535 points damaged. 46
pipeline points were damaged in Gombe, 32 in Kaduna and 10 in Warri-River
Niger.

 

Nnimo Bassey, the executive director of Health of Mother Earth Foundation,
said a few thousand barrels of oil can destroy about 20 hectares of land. Mr
Bassey, whose foundation focuses on issues that affect the environment,
stressed that if oil spills persist in an area, it may lead to food
insecurity.

 

The Food and Agriculture Organisation (FAO) had projected that about 2.5
million people in Nigeria would face acute food insecurity during the June
to August 2023 lean season. A quarterly report released by the global
organisation shows that the figure projected is higher than the 19.45
million forecast in 2022.

 

The situation has been worsened by oil spills.

 

Mrs Oluwole told this reporter that the supply of cassava, yam and
vegetables has declined in the Ogere area of Ogun State in the last five
years.

 

"We do not have enough yam, vegetable and cassava in the market again
because many people have abandoned farming as a result of the oil spill,"
she said.

 

Oil spill

 

A pipeline of the NNPC runs across Wasan, Oke-pakala, Akonko, Shakara,
Belefun and Obelu areas of Ogere Remo, Ogun State. These communities are
largely dominated by farmers and fishermen but oil thieves frequently
vandalise the pipelines to siphon petroleum products.

 

The oil spills have contaminated the environment, including rivers. The
vegetation has turned pale and wild animals have fled the area.

 

Farmers are at the receiving end whenever oil thieves carry out operations
on the NNPC pipelines.

 

How it happened

 

Mr Yaovi recalled how his seven-hectare farm of maize and pepper farm was
burnt.

 

"I was at home when one of my boys, who went to the farm to monitor what we
planted, came back home to tell me that the whole farm had been burnt," he
said.

 

"On the seven hectares, we planted maize and pepper, so you can imagine what
we lost," he added.

 

Unlike Mr Odeyemi who took to selling water after losing his farm, Mr Yaovi
could not think of any other business than farming, so he moved to another
community.

 

 

On the new farmland that he rented, Mr Yaovi cultivates rice, beans, maize
and watermelon. But he has encountered another problem.

 

"All the things I planted there are not doing well because of pests."

 

He appealed to the government agencies in the agricultural sector to assist
him and other farmers whose businesses have been affected by the oil spills.

 

Explosion

 

In July 2018, Olalekan Ayinla was at his fish farm, in Ogijo, Ilara area of
Ogun State, when he heard an explosion from a nearby pipeline that had just
been vandalised by oil thieves.

 

The pipeline that passes through Ilara is about a one-hour walk from Mr
Ayinla's fish farm but the contamination from the explosion killed all the
fish.

 

"When I heard the explosion I hurriedly left the farm because I was not sure
what had happened. The fire raged everywhere and my farm was not spared," he
said.

 

Solution

 

To check incessant pipeline vandalism, the Nigerian government has deployed
different security outfits including the police and the civil defence
(NSCDC). However, the crime still persists in many states such as Ogun.

 

Environmental advocates say to stop pipeline vandalism, the government must
shift focus from oil production and transition to renewable energy.

 

Mr Bassey and Mayokun Iyaomolere, an environmental activist, also called on
the government to compensate victims of oil spills.

 

On his part, Mr Iyaomolere said technology offers the best protection of
pipelines from vandals.

 

"The best way to protect the pipelines I think is to have some technology
innovations that will help to monitor these pipelines such that if any
illegal activity is going on there will be live coverage or something that
will transmit a signal to a headquarters where it can be quickly monitored
and the local forces will be quickly directed," he said.

 

This reporting was done with the support of the Centre for Journalism
Innovation and Development.

 

-Premium Times.

 

 

 

 

 

Liberia: Technical Issues Disrupt Electricity Token Vending in Liberia

Monrovia — The Liberia Electricity Corporation (LEC) has been grappling with
technical challenges on its Libango vending platform over the past four
days, leaving customers without access to electricity tokens. This
disruption has affected various purchasing methods, including Libango
vendors and popular digital platforms such as MTN Mobile Money, Orange
Money, TipMe, and the Ecobank Mobile App.

 

To address the inconvenience faced by its customers and ensure continued
access to electricity, LEC has taken immediate action. Temporary vending
points have been established at strategic locations including the Waterside
Headquarters, Bushrod offices, and the Anti-Power Theft campaign site at
Duport Road. This emergency measure was put in place on Sunday and will be
expanded as needed until the issues with Libango's platform are completely
resolved and regular vending services are restored.

 

 

In addition to the existing temporary vending points, LEC is actively
working to minimize customer travel and waiting times. Plans are underway to
establish more accessible locations to better serve customers efficiently.
Simultaneously, LEC is exploring alternative options such as mobile money
operations and banking platforms to further enhance the customer experience.

 

The corporation is committed to keeping the public informed about additional
vending locations and alternative payment methods as soon as they become
available. Updates will be communicated through various channels, including
news media, the LEC website, and the corporation's social media platforms.

 

While addressing the current challenges, LEC is working diligently alongside
Libango to expedite the restoration of normal vending operations. The
corporation acknowledges the inconvenience caused by these technical issues
and extends a sincere apology to its cherished customers.

 

LEC says it remains dedicated to providing reliable electricity services to
the people of Liberia and is taking every necessary step to rectify the
situation swiftly.

 

-FrontPageAfrica.

 

 

 

 

South Africa: Harmony Gold's Annual Earnings Soar As Mponeng, World's
Deepest Mine, Delivers

The sun may be setting on South Africa's gold industry, but 3.8km below the
surface, Harmony Gold is hitting pay dirt. The company's full-year earnings
soared by 60%, lifted by higher prices and a significant increase in grades
at Mponeng, the world's deepest mine, where Harmony may yet go further
underground.

 

Harmony bought Mponeng, the world's deepest mine which extracts gold as far
down as 3.8km, from AngloGold Ashanti in early 2020 for $200-million.

 

It has not had any buyer's remorse and the acquisition had already paid for
itself by last year.

 

 

Harmony unveiled a 60% surge in full-year headline earnings on Wednesday to
800 cents per share, resulting in a final dividend of 75 cents per share.
Mponeng played a starring role on this stage, with a staggering 16% increase
in recovered grades, leading to a 22% rise in production to almost 240,000
ounces.

 

"We expected to go into the higher-grade parts of the mine two or three
years after we bought it," Harmony CEO Peter Steenkamp told Daily Maverick.

 

Overall, group earnings climbed by 14% to R47.5-billion, while overall,
grades increased by 8%. Combined with a 15% spike in the average gold price
received to $1,808 an ounce, the end result was a flow of cash to the
company's bottom line. This has bucked the trend among South African mining
companies, notably in the PGM space, which have generally reported a
significant fall in earnings this year.

 

Debt was slashed by more than R2-billion to leave net debt at...

 

-Daily Maverick.;

 

 

 

 

Kenya Pipeline Completes Takeover of Changamwe-Based Kenya Petroleum
Refineries Limited Facility

Mombasa — The government has concluded the transfer of the Kenya Petroleum
Refineries Limited (KPRL) to Kenya Pipeline Company (KPC), Energy and
Petroleum Cabinet Secretary Davis Chirchir has announced.

 

Chirchir said the takeover will help improve the utilization of the assets
of KPRL, which closed down its Changamwe refinery in 2014 after it became
uneconomical to run the operations at the facility.

 

The Energy CS who spoke in Mombasa on Wednesday explained the KPRL facility
became unprofitable after it failed to match the required output.

 

KPRL assets, which sit on a 370-acre parcel of land have been idle for the
past nine years, and on July 18, President William Ruto's Cabinet approved
the acquisition of KPRL by KPC through transfer of shares.

 

 

"Acquisition by transfer of shares basically is like saying one fully owned
government parastatal takes ownership of another parastatal because they do
the same business," said Chirchir.

 

Sh150bn balance sheet

 

Speaking after a meeting with Mombasa Governor Abdulswamad Nassir, KPRL
management and a section of the county's political leadership, the Energy CS
said Kenya Pipeline comes with a strong balance sheet of over Sh150 billion.

 

"And with a strong company coming in to take KPRL, we can be able to see
once again activities of recreating the economy in Mombasa and creating
employment," said Chirchir.

 

He said they will be working with the county government of Mombasa to revamp
KPRL assets in order to work for the people of Mombasa County.

 

 

"We want KPRL to work for the people of this country, to work for the region
because we are internationally situated to be able to serve Uganda, serve
Rwanda, and even play a competitive advantage against our neighbours in
Tanzania," he said.

 

Chirchir assured that no employee will lose their job with the takeover.

 

"Nobody is losing jobs. We had PwC doing a study to confirm which was the
best acquisition option, and we've zeroed in on the acquisition by transfer
of shares as opposed to transfer of business," he said.

 

"We'll be talking to the staff of KPRL to assure them that they are in safer
hands."

 

He said however KPRL employees had already started working with KPC through
a lease agreement where KPC has been using the tank at KRPL for the storage
of petroleum.

 

No job losses

 

"They have rehabilitated most of those tanks and they are being used today
by KPC. Why do we need KPC to leverage the asset of KPRL? The leadership
today would like to accelerate the use of LPG gas, as a transitional fuel to
mitigate the challenges of climate change," he said.

 

He said Kenya will be hosting the Africa Climate Change Summit next week
whereby more than 30 presidents and heads of state will be coming into the
country.

 

"Some of the quick wins for us would be really to look at how do we
accelerate the pushing of LPG to the economy and reduce the use of fuel,
wood fuel, or what you call biomass," he said.

 

Governor Nassir said one of the issues that has been raised is whether there
will be job losses if KPC takes over the assets of KPRL.

 

"Issues that were being raised is whether the people who are currently
employed by KPRL will be affected in any way, and the CS has been able to
confirm that not only will they not be affected, but as a matter of fact
there will be more employment opportunities," said Nassir.

 

He said as leaders they also want the locals to benefit when the new master
plan for KPRL is unveiled.

 

"When the master plan is ready, we want the people of Mombasa to be able to
benefit from more job opportunities. Equally, the people of Mombasa to be
able to benefit from the CSRs," he said.

 

Others present during the meeting were KPC managing director Joe Sang, KPRL
acting CEO Joseph Ndoti and a section of Mombasa MCAs.

 

- Capital FM.

 

 

 

 

Kenya: Data Commissioner Kassait on the Spot for Endorsing Worldcoin
Activities

Nairobi — The Office and Data Protection Commissioner (ODPC) has been put on
the spotlight for issuing Tools for Humanity, a firm under which Worldcoin
operated, a certificate of registration outside the legal framework.

 

The State Law Office made the revelations on Wednesday when Attorney General
Justin Muturi appeared before an Adhoc committee of the National Assembly
investigating Worldcoin activities in Kenya.

 

The Department of Justice told lawmakers Worldcoin, operating as Tools for
Humanity, was not licensed to operate in the country as required under the
Companies Act.

 

 

"Worldcoin is not registered as a company for whatever purpose in Kenya. An
application for registration must be accompanied interalia by a company of
establishment documents. The establishment documents include a registration
certificate," Muturi said.

 

The move to by Data Commissioner Immaculate Kassait to issue Tools of
Humanity Cooperation a certificate was cited as a glaring omission on the
part of ODPC.

 

"It is to be observed Mr Chairman that for a foreign country to operate and
collect data in the country, the company is required to furnish its
establishment document to the data commissioner," said Muturi.

 

The Department of Justice further noted that of eleven local companies that
were working as agents of the Worldcoin Project, only one was registered.

 

Sense Marketing, one of the local agents, was registered s a firm operating
along Langata-Kitengela Road with one shareholder identified as Kevin
Ondumbe.

 

 

Protocol breach

 

MPs questioned why ODPC moved to issue the certification of registration to
the American Firm despite them failing to adhere to companies act
regulations.

 

"Essentially a Data Commissioner can't register unless the documents given
to her are document confirming its registration," Homabay Town MP Peter
Kaluma onserved.

 

"Will I be right to say that Tools for Humanities was not correctly
registered in the country and so can we conclude that all activities by the
firm in Kenya are completely illegal and therefore very strong legal action
should be taken against its associates?" Mbeere North MP Geoffrey Ruku
posed.

 

"Who is responsible in this case on checking the compliance? Where does the
mandate of Registrar of Companies start and where does the mandate of the
Data Commissioner start?" Nominated MP Umulkheir Harun queried.

 

 

Principal State Counsel Karen Ndegwa noted that a certificate of business
registration was a prerequisite for any firm seeking clearance by the Data
Commissioner.

 

"As a foreign company before you embark for certificate processing from the
Data Commissioner you must have sought the certificate of business
registration system seeking to be compliant with the Kenyan law," Ndegwa
said.

 

The new revelations emerged a day after the National Computer and Cybercrime
Coordination Committee warned that the online recruitment for Worldcoin
project might be ongoing despite a suspension order by government.

 

Unclear motive

 

Appearing before the National Assembly Adhoc Committee, the agency's Head of
Cyber-security Standards and Policy David Njoka called for speedy
investigations to establish the real motive of Worldcoin proponents given
the sensitivity of the data they mined from Kenyans.

 

"This raises national security concerns given that Kenyans are exposed to
external threats from a foreign entity hence the need to protect Kenya's
national interest and protection of citizens," said Njoka.

 

He made the statement even as he cast doubt on the safety of data captured
by the Worldcoin Project after it emerged that it was stored in Amazon Web
Services in the United States.

 

Njoka recommended that the Ministry of Interior and National Administration
to demands the preservation of the data already collected to enable
technical assessment of the infrastructure used in the collection,
transmission and processing of data.

 

"In the event that Worldcoin is in breach of terms and conditions of their
registration they should be investigated, prosecuted and issued with
administrative fines and other legal sanctions," he said.

 

Kenyans registered the highest subscriptions to the Worldcoin cryptocurrency
project out of thirty-four countries where similar operations were mounted.

 

The American firm recruited agents deployed across thirty stations in
Nairobi to scan and collect iris data for transmission.

 

Njoka explained that Worldcoin disguised itself as a research institution
before escalating its activities of data processing exposing gullible
Kenyans.

 

"A week after the launch of Worldcoin cryptocurrency on 22nd of July, they
announced that they have registered over 350,000 Kenyans and in terms of the
numbers of data registered globally," Njoka said noting that entries by
Kenyans amounted to 25 per cent of the overall data collected.

 

8 billion target

 

Worldcoin had targeted to register 8 billion people in the cryptocurrency
platform that aims to provide universal global economy by authenticating
individual using retina/iris scans.

 

In Kenya, the firm operated through local representatives identified as
Wangechi Maina and Rael Mwende after legal agreements with their local firms
listed as Platinum De Plus Limited, EXP Kenya and Sense Marketing.

 

Worldcoin offered those who signed up 25 free tokens worth about Sh7,000,
drawing thousands of people to multiple sign-up points in the capital
Nairobi.

 

Thousands of Kenyans flocked to Kenyatta International Conference Center
Nairobi mid July to have their eyes scanned.

 

The project, according to its founders, aims to solve one of the main
challenges facing the crypto industry that largely relies on pseudonyms to
operate, leaving it vulnerable to spam bots and scams.

 

More than 2.1 million people have signed up for Worldcoin across the world,
with iris scans conducted in 34 countries, according to the company's
website.

 

Worldcoin is now trading at $2.37, up from the initial price of $1.70,
according to CoinMarketCap.

 

-Capital FM.

 

 

 

 

Kenya Hosts First Pan-African Conference to Accelerate Growth of Medical
Technology Development

Nairobi — Kenya is the fourth largest medical technology devices exporter in
Africa at 3.1 percent of exports from Africa to the rest of the world ahead
of Tunisia and Mauritius according to a keynote speech at the just concluded
inaugural Transforming African Medtech Conference.

 

The presentation puts South Africa, Egypt and Morocco ahead of Kenya at 21.1
percent, 6.8 percent and 3.5 percent respectively.

 

According to the data provided by Dr Victor Konde of the UN Economic
Commission for Africa, Africa exports medical devices worth $600 million
every year representing 0.3 percent of global import. The sector has grown
by $189 million over the last five years.

 

 

"Despite the growth, the continent is importing about 90 percent of medical
devices."

 

"Africa imports about $4 billion worth of medical devices, a growth of $1
billion in the last five years, representing about 1.9 percent of global
imports, with South Africa (18%), Egypt (12%), Morocco (8%), Kenya (2.5%)
importing the highest devices in Africa," said Dr. Victor Konde, from the UN
Economic Commission for Africa.

 

According to the report, the global medical devices market hit $595.4
billion in 2022 and is expected to rise to $844.7 billion by 2028.
Telemedicine and e-health was worth $87.8 billion as of 2022 and is
projected to reach $285.7 billion in 2027.

 

Wearable health devices were at $116 billion in 2022 and will rise to $265.4
billion in 2027. Artificial intelligence was worth $14.6 billion as of 2022
and is projected to reach $102 billion by 2028.

 

3D printing in health was worth $17.4 billion in 2022 and is expected to
rise to $34.5 billion by 2028. Nanodevices and machines were at $1.3 billion
in 2022 and may reach $2.7 billion by 2028.

 

 

The two-day conference, convened by Villgro Africa and Jaza Rift Ventures in
collaboration with Rice360 Institute of Global Health Technologies, Ifakara
Innovation Hub, PDP Consortium and Kenyatta University is aimed at
accelerating the growth of local solutions to address the challenges faced
in the development and manufacturing of medical devices.

 

"Africa should not miss such lucrative markets with high potential to
improve healthcare services for millions of its people. Collaborations
amongst various stakeholders, including governments, regulators, academia
and industry, have the potential to develop solutions to address the diverse
healthcare challenges faced on the African continent, including the
development and manufacture of medical devices," said Wambui Gachiengo,
Chief Technology Officer, Villgro Africa.

 

 

According to Jaza Rift Ventures General Partner, Sewu-Steve Tawia,
investment in the medical devices segment of Africa's startup space has the
potential to hit $259 billion by 2030. Currently, the sector has attracted
$500 million in investments.

 

"The future of the medical devices sector startup space is artificial
intelligence (AI). AI in healthcare could include tasks that range from
simple to complex--everything from answering the phone to medical record
review, population health trending and analytics, therapeutic drug and
device design, reading radiology images, making clinical diagnoses and
treatment plans, and even talking with patients," Tawia explained.

 

On his part, Kenyatta University Vice Chancellor Paul Wainaina called on the
government to increase its commitment in the medical devices sector through
allocating more budget to research and development of the sector.

 

"We believe that by applying the best that technology has to offer to the
manufacturing sector, including AI and robotics, we can develop much-needed
medical devices that can be distributed across Africa at scale and at an
affordable cost. The conference has served as a catalyst for capturing these
ideas and inspiring action that will now make them a reality," Wainaina
noted.

 

Other issues affecting the growth of the sector include skills development
for technical professionals.

 

"We need to increase skills development in our institutions. Our engineering
students are more theoretical than practical; we need to equip our students
with the skills needed to increase investments and uptake of medical devices
in the African continent. We need more biomedical engineers, data scientists
and Al experts," added Khatuchi Kasandi, Director Invention Education
Partnerships at Rice360 Institute of Global Health Technologies.

 

-Capital FM.

 

 

 

 

Kenya Joins Efforts to Have Free Trade Area Across All African Countries

Kenya has joined the conversation on efforts to have free trade area across
all African countries which is anchored on spurring economic development in
Africa by unlocking its manufacturing potential through industrial parks and
open borders.

 

The government says its keen on championing the conversation for a
borderless Africa factor it says has for a long time hindered the
development of A prices.

 

 

Speaking during a road trip meeting for the African Trade Fair slotted for
November 9 in Egypt, Trade Principal Secretary who represented Trade and
Investment Cabinet Secretary Moses Kuria averred that there is need to
support the capability of the private sector for favorable competition in
international trade.

 

 

"From the outset the issue of support and facilitation are things that need
to e streamlined hopefully we will be able to address them a bit better as
far as advancing inter Africa trade is concern," he said.

 

Africa Eximbank which is the key financier of the forum have observed that
currently Africa has 48 currencies which is hindering trade between
countries, calling on African leaders to clamp down their currencies and use
a single currency for their transactions.

 

"The ideal situation would be using one currency across the continent's
francophone West Africa already. This will however take time, "said the
bank's Vice president Denys Denya.

 

He added that inter African trade will drive African development adding that
plans are already in place to construct special economic zones and
industrial parks to spur value addition.

 

"The next step is to convert those raw materials into finished products that
your neighbors require. We have invested 20 billion and are seeking to
double it by 2026," added Denya.

 

For Kenya, the Bank has invested 3 billion dollars towards the industrial
parks.

 

-Capital FM.

 

 

 

Ukraine war: UK arms giant BAE Systems sets up local business

UK defence giant BAE Systems has set up a legal entity in Ukraine and signed
deals to help ramp up supplies of weapons and equipment to Kyiv.

 

The firm said the move will allow it to work directly with Ukraine to
explore potential partners and ultimately produce light artillery there.

 

BAE has made much of the arms the UK and other nations have sent to Ukraine.

 

Since the Russian invasion in February 2022, Britain has become a major
defence supplier to Ukraine.

 

The BBC understands that BAE has no current plans to open a physical office
or a factory in Ukraine.

 

"The development of our own weapons production is a top priority," Ukrainian
President Volodymyr Zelensky wrote on X, the social media platform formerly
known as Twitter.

 

Mr Zelensky made the announcement after holding a meeting with BAE's chief
executive Charles Woodburn.

 

"Signing the agreements and establishing a legal entity in Ukraine builds on
our existing trust and support and paves the way for us to work together to
provide more direct support to the Ukrainian armed forces," said Mr
Woodburn.

 

Ukraine and Sweden signed a statement of intent to strengthen co-operation
in production, operation, training and servicing of CV90 armoured vehicles,
which are currently produced by BAE Systems' Hägglunds business in Sweden.

 

Mr Zelensky said in May that Kyiv and BAE were working on a plan for the
company to open an office in Ukraine.

 

Kyiv is eager to boost its supplies of weapons and other military equipment,
as well as create jobs in an economy hit hard by the war.

 

BAE, which has seen its share price jump by more than 75% since February
2022, is already providing training and repair services to Ukraine's
military.

 

The multinational arms, security and aerospace company employs 93,000 people
in about 40 countries around the world.

 

It is Europe's biggest defence contractor with annual sales of more than
£23bn and almost £2.5bn in profits last year.

 

-bbc

 

 

Anonymous Sudan hacks X to put pressure on Elon Musk over Starlink

A hacking group called Anonymous Sudan took X, formerly known as Twitter,
offline in more than a dozen countries on Tuesday morning in an attempt to
pressurise Elon Musk into launching his Starlink service in their country.

 

X was down for more than two hours, with thousands of users affected.

 

"Make our message reach to Elon Musk: 'Open Starlink in Sudan'," the hackers
posted on Telegram.

 

X is the latest victim of the gang hacking to "benefit Sudan and Islam".

 

Over several weeks of private conversations with the group on the chat app
Telegram, the BBC spoke to the hackers about their methods and motives.

 

One member of the group, who calls himself Crush, told the BBC that
Tuesday's attack flooded X's servers with huge amounts of traffic to take it
offline - the same blunt and relatively unsophisticated hacking techniques
for which the gang is known.

 

The outage-tracking site Downdetector said nearly 20,000 outage reports were
logged by users in the US and the UK, with a far higher number of people
likely to have been affected.

 

Another hacking group member - Hofa - said the so-called DDoS (Distributed
Denial of Service) attack was aimed at raising awareness about the civil war
in Sudan which is "making the internet very bad and it goes down quite often
for us".

 

X has not publicly acknowledged the disruption caused, and Mr Musk has not
responded to questions to launch his satellite internet service in Sudan.

 

Located in Sudan

Anonymous Sudan has been accused by many in the cyber-security world of
being a Russian cyber-military unit in disguise and causing cyber-chaos for
the Kremlin under the cover of a foreign hacktivist outfit.

 

The theory stems from its online support for Russian President Vladimir
Putin and an apparent alignment of motives with other hacking gangs in the
country.

 

But the criminal group has repeatedly denied it is Russian, and for the
first time shared evidence with the BBC that it is located in Sudan.

 

Crush, the group's main spokesperson and key member, shared his live
location on the Telegram app as proof.

 

Crush and Hofa also sent pictures of their Sudanese passports and other
screenshots suggesting they are in Sudan.

 

Telegram screenshot of the gang warning Nigeria and Kenya about attacks

Image caption,

The gang has posted to its channel in English, Russian and Arabic to 120,000
followers

These things can be faked with varying degrees of difficulty, but after
weeks of conversation with the BBC and cyber-security researcher Intel
Cocktail, there is nothing to suggest the hackers are lying.

 

"Our long-term goal is to show the world that Sudanese people, although with
limited capabilities, have very good skills in many different fields," said
Crush.

 

In June, the gang posted a message of support for the Russian government to
end an ongoing rebellion by the Wagner forces.

 

However, Crush explained that "a similar thing happened to our country and
Russians stood with us so we wanted to pay them back", referring to Russia's
support for the Sudanese government as it fights the ongoing civil war.

 

He insists that their group is made up of a "small number" of Sudanese
hackers who are launching the attacks from the country in spite of regular
internet outages.

 

Was pro-Russian group behind Kenya cyber-attack?

Meet the hacker armies on Ukraine's cyber front line

Since it emerged in January, Anonymous Sudan has successfully disrupted
dozens of organisations and government web services in France, Nigeria,
Israel and the US.

 

For the past month the gang has attacked Kenya, claiming the country's
government is "meddling in Sudanese affairs".

 

One attack heavily disrupted the country's eCitizen portal used by the
public to access more than 5,000 government services.

 

When challenged about the impacts on citizens, Crush defended the actions
and said: "The reason we hit infrastructure is to teach the country and its
rulers a lesson, and yes we have red lines, that is if our attacks harm a
lot of innocents."

 

However, the group has also unsuccessfully attacked hospitals.

 

The gang claims to be carrying out the criminal attacks to "defend the
Truth, Islam and Sudan", but on at least two occasions it has also tried to
extort victims for Bitcoin.

 

It has also targeted websites like OnlyFans, Tumblr and Reddit, saying that
they promote what it calls "disgusting smuts and other LGBTQ+ things".

 

In June, the hackers celebrated when the US cyber-authority issued an
official warning about a wave of attacks against American organisations
which it warned "can cost an organisation time and money and may impose
reputational costs while resources and services are inaccessible".

 

Its most high-profile attack in June disrupted Microsoft services including
Outlook and OneDrive, forcing the tech giant to issue a report with advice
to customers on how to prevent being affected by the group.-bbc

 

 

 

 

Mark Thompson: CNN appoints former BBC director general as chief executive

Ex-BBC and New York Times boss Sir Mark Thompson has been appointed to lead
CNN following a series of crises and falling ratings at the US news network.

 

Sir Mark replaces Chris Licht, who struggled to stabilise CNN in his 13
months as chairman and CEO.

 

The network has also been through the firings of star anchors Chris Cuomo
and Don Lemon, and the closure of streaming service CNN+ after just one
month.

 

Sir Mark must also guide CNN during the 2024 US presidential election.

 

That challenge will coincide with coverage of criminal charges against
Donald Trump.

 

The network has had a famously tempestuous relationship with the former US
president, who unsuccessfully tried to sue CNN for defamation, claiming it
had created a "false and incendiary association" between him and Adolf
Hitler following the last election.

 

A CNN interview with Mr Trump in May was widely criticised, including by the
network's own Christiane Amanpour. Mr Licht stepped down weeks later.

 

CNN's previous boss Jeff Zucker had been forced to resign in February 2022
after failing to disclose a romantic relationship with a senior executive.

 

'Pivotal time'

David Zaslav, chief executive of parent company Warner Bros Discovery,
described Sir Mark as "a formidable force for CNN and journalism at this
pivotal time".

 

He added: "Mark is a true innovator who has transformed for the digital age
two of the world's most respected news organizations."

 

The British executive was director general of the BBC from 2004 to 2012, and
is credited with reviving the fortunes of the New York Times by boosting
digital subscriptions as president and CEO from 2012 to 2020.

 

"I can't wait to roll up my sleeves and get down to work with my new
colleagues to build a successful future for CNN," Sir Mark said.

 

His appointment comes days after Warner Bros Discovery announced a new
attempt at launching a CNN streaming service, CNN Max, which will combine
existing shows with online-only programming.

 

CNN's cable TV ratings have been dropping faster than those of its
competitors, according to official figures quoted by the Associated Press
earlier this year.

 

-bbc

 

 

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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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
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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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