Major International Business Headlines Brief::: 04 September 2023

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

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

 


 

 


Major International Business Headlines Brief::: 04 September 2023 

 


 

 


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

 


 

 


 

ü  Seychelles' Health Authorities to Expedite Signing of MOU With Zambia for
Recruitment of Doctors

ü  Rwanda: Over 50 Pupils Complete Coding, Robotics Courses

ü  Angola's National Oil Company Begins First Onshore Drilling

ü  Angola: Japan Aims to Increase Business With Angola

ü  Liberia: Jeety Projects U.S.$40 Million Annual Revenue for Govt

ü  West Africa: 'Investing' Key to the Prevention of Military Coups - UN

ü  East Africa: Chinese Markets Deplete Lake Victoria's Nile Perch

ü  Uganda: Fuel Price Hikes, School Fees Catch Parliament Attention

ü  Uganda: Speaker Raises Concern on Rising Fuel Prices, School Fees

ü  Will post-Brexit food checks ever happen?

ü  Muhammad Yunus: Leaders urge Bangladesh to end attacks on Nobel laureate

ü  India's Adani Group stung by fresh controversy

ü  Ukraine war: Russia pledges to give BAE's business 'attention'

ü  Octopus to buy Shell's household energy firm

 


 

 


 

 <https://www.cloverleaf.co.zw/> Seychelles' Health Authorities to Expedite
Signing of MOU With Zambia for Recruitment of Doctors

Seychelles' health authorities have agreed to expedite the signing of a
memorandum of understanding (MoU) with Zambia to facilitate the recruitment
of Zambian health professionals to work in the island nation.

 

In a press statement on Thursday, the Ministry of Health said that Minister
Peggy Vidot and her Zambian counterpart Sylvia Masebo made the agreement
during a meeting on the sidelines of the 73rd Regional Committee of the
Africa region of the World Health Organisation (WHO).

 

"The MoU will also allow Seychellois health professionals to be trained in
Zambia. Seychelles has a lack of health professionals while Zambia has a
surplus. Discussions have been ongoing between the two sides since early
this year for the recruitment of doctors," said the Ministry.

 

Discussions have been ongoing between the two sides since early this year
for the recruitment of doctors.

 

According to the Annual Health Sector Performance Report of 2022, as at the
end of 2022, there were 514 doctors on the register of the Seychelles
Medical and Dental Council (SMDC). Only 22 percent are Seychellois nationals
and around 241 doctors on the register were professionally active in
Seychelles in 2022.

 

 

As per Article 29 of the Constitution, Seychelles offers free primary health
care in state institutions for all its citizens.

 

During her meeting, Vidot said, "With the MoU, Seychelles stands to benefit
from a broader scope of cooperation, sharing of best practices and capacity
building."

 

Minister Vidot also met with the health minister of Rwanda, Sabin
Nsanzimana, to follow up on the signing of an MoU held in discussions in
June with Rwandan President Paul Kagame.

 

Vidot and Nsanzimana agreed to the visit of a delegation from the Seychelles
health ministry to Rwanda for Seychelles to have a deeper insight into the
health training facilities, the primary health care system, and the use of
the electronic health information system there, among others.

 

The collaboration between Seychelles, Rwanda and Zambia represents a new
approach of the island nation's Ministry of Health, to collaborate more with
high performance developing countries.

 

The Seventy-third session of the WHO Regional Committee for Africa took
place in Gaborone, Botswana from August 28 August to September 1.

 

-Seychelles News Agency.

 

 

 

Rwanda: Over 50 Pupils Complete Coding, Robotics Courses

Fifty-four pupils from 10 schools in Kigali have completed a coding and
robotics boot camp designed for primary school children. This program
primarily targeted P.5 students and aimed to raise a passion for technology
and instill foundational knowledge in robotics.

 

The camp concluded on September 1 and was conducted in two series. The first
group commenced from July 17 to 28, while the second part took place from
August 24 to September 1. This initiative was prepared and implemented
through a collaboration between the Rwanda Education Board (REB) and STEM
Inspires.

 

ALSO READ: More children need to be exposed to robotics and coding early on

 

Minister of Education, Gaspard Twagirayezu emphasized the program's
productivity and expressed the intention to extend its implementation across
all educational institutions, ranging from primary schools to universities.

 

"We want our children to enjoy STEM from an early age. This program nurtures
collaboration and working on time among students," he said.

 

Diane Sengati, Acting Head of the Department of ICT in Education at REB,
highlighted that during the camp pupils had a clear comprehension of coding
and its significance. They were provided with sufficient time for capacity
building in problem-solving, teamwork, and conducting research.

 

ALSO READ: Young innovators: Why strengthening digital, coding skills is key

 

Furthermore, she pointed out that they successfully developed robotics and
reminded them that this not only marked the conclusion of the camp but also
signaled the commencement of a significant initiative.

 

"This initiative is composed for scaling in schools, where students will be
encouraged to consider what they've gained as valuable takeaways for their
future endeavors," she said

 

ALSO READ: New coding school to open in Muhanga as govt looks to increase
engineers

 

Nelson Mbarushimana, the Director General of REB, also tacked on the primary
objectives of that boot camp which were to introduce children to the
fundamental concepts of coding and robotics engagingly and enjoyably, to
promote the development of critical thinking, problem-solving, and teamwork
skills among them and also to nurture creativity and innovation through
hands-on projects and challenges.

 

Mbarushimana, also pointed out this cohort will have the opportunity to
participate in other camps in the future.

 

"This will allow them to further develop and refine their skills before the
initiative is expanded to schools nationwide," he said

 

Treasure Blessing Mugabo, a primary five student at New Generation Academy,
expressed how insightful the camp was and how much they learned from it. He
said they gained valuable knowledge on building robots, programming them,
creating tasks and missions, and accomplishing them.

 

"The skills I have acquired here, starting at this early age, will enable me
to assist many people in the future. I can contribute to solving our
country's problems and explore alternative solutions," she said.

 

Parents and teachers who attended the closing camp ceremony commended REB
and its partners for this valuable initiative. They emphasized the
importance of exposing children to such skills at an early age and urged for
its expansion to schools nationwide.

 

-New Times.

 

 

 

 

Angola's National Oil Company Begins First Onshore Drilling

Luanda — The drilling of Sonangol's first onshore oil well, in Luanda,
starts within a week, as part of production strategy to be developed by
2027, the Angolan state oil company announced on Friday.

 

The process of installing the drilling rig is about 95% done, and it marks
the reactivation of oil and natural gas production in the Kwanza Onshore
Basin, located in Cabo Ledo, Quissama municipality, Luanda province.

 

The resumption of crude oil exploration in Kwanza Onshore Basin comes 27
years after the deactivation of oil operations in Block KON-11, located
around 120 kilometers from Luanda, Angolan capital city.

 

 

As a result of the reactivation of oil activity in that location, it is
estimated that the well's reservoir holds 66 million barrels of light oil,
at a depth of around 750 metres, according to chairman Sonangol's Executive
Committee for Business, Exploration and Production, Ricardo Van-Deste.

 

Speaking to the press, at the end of a field visit, headed by the Minister
of Mineral Resources, Oil and Gas (MIREMPET), Diamantino Azevedo, Van-Deste
highlighted that at least ten million US dollars will be needed to invest in
this operation.

 

He added that the main purpose of drilling in Kwanza Onshore Basin is to
test the potential of this reservoir, which will relaunch Sonangol's onshore
exploration and production activities.

 

The process of evaluating the development concept and the sizing of the
production facilities will follow based on the results of that well.

 

Meanwhile, the chairman of the Board of Directors of Sonangol, Sebastião
Martins, said that, if this drilling prospect yields positive results, the
oil company could increase its oil and gas production capacity for the
country.

 

According to the manager, all the human and logistical conditions have been
created for drilling to begin within a week, with only rehearsal or testing
of some equipment remaining.

 

He considered that drilling on land is much cheaper than at sea, depending
on the specificity of each operation.

 

He assured that Sonangol is also preparing a second reservoir in the same
region to explore oil and gas onshore.

 

The consortium responsible for carrying out the operations of this Block is
made up of Sonangol Pesquisa e Produção (30%), as operator, Brites Oil &
Gás, with 25%, Grupo Simples Oil and Atlas Petroleum Exploration Worldwide,
which hold 20% each, as well as Ómega Risk Solutions Angola, with 5%,
respectively.

 

So far, Sonangol's oil production is carried out mainly in shallow and deep
waters, offshore, an operation that entails more costs compared to onshore.

 

-ANGOP.

 

 

 

 

Angola: Japan Aims to Increase Business With Angola

Luanda — The Japanese ambassador to Angola, Suzuki Toru, on Friday called
for an increase in the volume of business between the two countries to
strengthen bilateral cooperation.

 

The Japanese diplomat, who was speaking to the press following a meeting
with Angola National Assembly Speaker Carolina Cerqueira, said he recognises
that the volume of business between the two countries is still not
satisfactory.

 

In fact, he said, the volume of business between the two countries at the
moment is still not satisfactory, reminding that this is why the two
countries recently signed a reciprocal investment promotion agreement.

 

 

The diplomat praised Angola's great economic potential, looking forward to
greater business opportunities between the two countries.

 

In March, President João Lourenço made a state visit to Japan, aimed at
strengthening the partnership between the two countries.

 

Similarly, Japan's Minister of Economy, Trade and Industry visited Angola in
August, during which an agreement was signed to promote investment in both
directions.

 

For the Japanese diplomat, these events have helped to open up a new era of
co-operation between the two states.

 

In addition to relations between states, the diplomat and his interlocutor
reviewed inter-parliamentary cooperation, confirming the presence of six
Japanese MPs at the General Assembly of the Inter-Parliamentary Union (IPU),
to be held next October in the Angolan capital.

 

Japan has strongly supported the demining process in Angola and is
implementing projects in the health, education, food assistance,
telecommunications and agriculture sectors, with a turnover of around 50
million dollars in terms of trade.

 

Among the biggest private projects is the development of the Port of Namibe,
being carried out by the Toyota Tsusho Corporation, valued at around 700
million dollars.

 

Bilateral co-operation between Angola and Japan began in 1988 as Emergency
Aid, through the United Nations Children's Fund (Unicef).

 

After the end of the war in Angola in 2002, Japan began to co-operate with
Angola in the areas of demining, social reintegration of ex-military
personnel and refugees reintegration.

 

-ANGOP.

 

 

 

Liberia: Jeety Projects U.S.$40 Million Annual Revenue for Govt

Indian businessman Upjit Singh Sachdeva has disclosed that his US$35 million
rubber-processing factory investment in Weala, Margibi Count, will generate
between US$40 to US$50 million annually in needed revenue for the Liberian
government.

 

He spoke to journalists Thursday, 31 August 2023 after President George
Manneh Weah cut the ribbons to formally open the factory.

 

In addition to the projected amount the rubber company will generate for
government revenues, Mr. Sachdeva, popularly called Mr. Jeety, said his
company will also employ 700 or more Liberians.

 

 

President Weah stopped by briefly on Thursday from his hectic political
campaign tours to formally dedicate the Jeety rubber-processing factory, a
state-of-the-art investment.

 

It is hoped that the operations of the company will help address the high
rate of unemployment in Liberia.

 

Jeety is the former Indian Honorary Consul General to Liberia. He held the
post for over two decades.

 

President Weah, accompanied by Vice President Jewel Howard Taylor, and other
top government officials, cut the ribbon to the plant and switched on the
equipment to commence the first processing of the rubber.

 

Following the dedication, Mr. Weah and his entourage departed the company's
premises to continue his political campaigning in the county.

 

Mr. Jeety said the turning on of the corporation's equipment by President
Weah marks the commencement of the first phase of its operations.

 

He pointed out that his machines can consume between 200 to 250 tons of
unprocessed rubber daily.

 

 

He maintained that the company would continue to purchase rubber from all
local farmers as part of efforts to empower them and help improve the
country's economy.

 

This, he added, will also help put money in the pockets of small rubber farm
holders.

 

Jeety emphasized that the company will be fully functional throughout the
week when huge tons of rubber are purchased from the local farmers.

 

"Rubber is one of Liberia's main commodities. Every country's commodity
increases the Gross Domestic Product (GDP) of the country," said Mr. Jeety.

 

"Not only that, but the trigger down effect is also that it creates
employment for several hundred thousands of people."

 

He added that it is why he is not putting up any farms, adding that he is
buying rubber from all the smallholders in the country, and he needs 250
tons of rubber a day.

 

 

He extended thanks to all sectors of the Liberian Government for helping him
get the factory set up and running.

 

He mainly thanked President Weah, Vice President Taylor, and the Ministries
of Commerce, Agriculture, Finance and Development Planning, Justice, and
Labor.

 

He also thanked the Director General of the Liberia Immigration Service
(LIS) for the support from the beginning to the end of his project.

 

The successful Indian businessman disclosed that the company will ensure
that the Liberian government generates US$40 to US$50M when it commences the
exportation of processed rubber during the first phase of its operations.

 

He added that during this phase, the company will produce and export
Technical Specified Rubber (TSR10) and Technical Specified Rubber (TSR20)
respectively.

 

TSR10 and TSR20 are used for the production of tires of all kinds, bags, and
mats, among others.

 

"If the second phase begins, we want to start the other rubber production
and in a year, we want to be hopeful to start to produce rubber bands,
gloves and in the next three to six years as per our contract with the
government, we will make tires," Jeety stated.

 

Jetty, who is the CEO of Jeety Trading Corporation (JTC), stated that the
TSR10 currently being processed by his company is the first processed rubber
used for the production of tires, but such production will not begin now.

 

He described the company as "one of the best modern factories" in Liberia
that will employ hundreds of citizens.

 

"Currently, we have a workforce of 400 people; all our workers are from
Weala. We have a workforce that constructed this factory in a short span of
12 months."

 

He noted that already, the Jeety Rubber Corporation has already started
giving to citizens of Margibi County as part of its corporate social
responsibility.

 

Jeety named the provision of pipe-borne water to residents in about 15
communities, feeding of about 500 Weala kids daily, and the construction of
a 50-bedroom fully equipped hospital, among others as some of the
initiatives he had undertaken while at the same time constructing the
factory.

 

Jeety Hospital

 

The hospital, which is expected to commence operations in Weala shortly,
will host an operation theatre, a modernized laboratory, an x-ray room, an
ultra sound, an eye treatment room, a store room, a pharmacy, an emergency
room, and three doctor offices, among others.

 

"I have already started giving to the people; I am not waiting for the
company to start exporting before commencing corporate social
responsibility."

 

Jeety's Agreement with the Government of Liberia:

 

The Government of Liberia, through the 54th Legislative in December 2021
ratified the Jeety Rubber LLC Investment Incentive Agreement for the
production of multiple rubber materials.

 

According to the agreement signed with the government, Jeety Rubber LLC will
construct, develop, and operate a national rubber processing and production
plant for the production of tires and other natural rubber products. It
includes long and short rubber goods.

 

The processing plant is also expected to produce hand gloves, rain boots,
and rubber bands, among others.

 

The company will process approximately 25,000 tons of natural rubber per
annum.

 

It compels Jeety Rubber LLC to consider the interest of local rubber traders
and others during its purchasing of raw materials.

 

The factory, which includes warehouses, washing and treatment plants, sits
on 13 hectares of property, between two rivers -- Weala and Borlor. It is at
the moment the largest in the country. The factory building, which is
132,000 sq ft in size, is completely prefabricated.

 

-New Dawn.

 

 

 

 

West Africa: 'Investing' Key to the Prevention of Military Coups - UN

United Nations — The United Nations says increased investment in the Sahel
region will assist in preventing military coups. This after military
officers in Gabon announced a seizure of power from long-time President Ali
Bongo Ondimba following the results of a disputed election in Gabon on
Wednesday.

 

The proximity of this event to the military coup in Niger one month prior
has renewed pressure on the United Nations to address growing instability in
West and Central Africa.

 

In response, Stéphane Dujarric, spokesman for the Secretary-General,
encouraged increased investment in the region.

 

 

"The best way to deal with these military coups is, in fact, to invest more
in preventing them prior," Dujarric said. "There needs to be investment in
developments, in strong institutions. We need to make sure that elections
are well organized, that people have the ability to express their will and
themselves freely."

 

There have been seven successful coups in West and Central Africa since
2020, Reuters reports. The spokesman told journalists that there has not
been enough involvement by the international community in the Sahel region,
though he cautioned against generalizations between countries.

 

Secretary-General António Guterres joined various institutions, including
the government of France, in condemning the ongoing coup as a means to
resolve the post-electoral crisis. Gabon is currently a non-permanent
elected member of the Security Council. It remains to be seen how a
successful coup will affect the UN body's work.

 

New leadership in Gabon could have international economic and environmental
impacts. The former French colony is the world's seventh-largest oil
producer. The domination of the Gabonese oil industry by French companies
may cease without Bongo, a French ally, in power. Bongo has also been
celebrated for his efforts to prevent overfishing and protect the
rainforests that cover 90% of Gabon, the New York Times reports. Policy
changes could reverse this progress.

 

Dujarric confirmed that the 776 UN staff members and dependents in Gabon
were safe. He expressed a broader concern for the people of Gabon and all
people who have experienced violations of their rights as a result of recent
military coups.

 

-IPS.

 

 

 

East Africa: Chinese Markets Deplete Lake Victoria's Nile Perch

Nile perch swim bladders, used in Chinese cuisine and traditional medicine,
are illegally extracted from breeding and juvenile fish.

 

Sarah Ddungu, a former public health official turned fisherwoman, says the
trade in Nile perch swim bladders has given her family a good life in her
retirement. Ddungu operates four boats on Lake Victoria in Uganda, and sells
the bladders to local middlemen, who in turn sell them to Chinese buyers. A
swim bladder is a gas-filled organ underneath the fish that regulates its
buoyancy in water.

 

Increased demand for the bladders has led to their illegal extraction from
breeding and juvenile stocks, depleting Lake Victoria's Nile perch
population and robbing East Africa of millions of dollars in revenue every
year.

 

Swim bladders, also known as fish maw, are considered a delicacy in Chinese
cuisine and are used in Chinese traditional medicine as an aphrodisiac and
to boost immunity and aid recovery. The fish organs are also used to
manufacture surgical threads.

 

 

China previously sourced swim bladders from the totoaba fish off the coast
of Mexico, but that species is now endangered and its trade is highly
regulated. As a result, market attention has shifted to Lake Victoria's Nile
perch, which is increasingly sought after.

 

1 kg of whole Nile perch sells at US$5, while 1 kg of swim bladder is sold
to local middlemen at US$200

 

Over 290 tonnes of swim bladders were exported from Kenya to Asia in 2018.
Uganda, which produces at least 520 tonnes of Nile perch swim bladder
annually, exported 51% of its catch to Hong Kong between 2012 and 2019. In
2018 alone, Uganda sold Nile perch swim bladders worth US$52.1 million.

 

Patrick Otuo, an Associate Scientist at the Kenya Marine and Fisheries
Research Institute, told the ENACT project that swim bladders are the most
profitable part of the fish. At local markets, 1 kg of whole Nile perch
sells at US$5, while 1 kg of swim bladder is sold to local middlemen at
US$200. In China, the same quantity fetches up to US$1 000. It's even more
expensive in Hong Kong, where the selling price can reach US$7 700.

 

 

Kenya, Uganda and Tanzania collectively exported 1 747 tonnes of Nile perch
swim bladders worth US$124 million to Hong Kong in 2018. But the fish maw
trade is estimated to contribute only US$86 million annually to East
Africa's economy. The discrepancy is what the region is losing as a result
of local fishermen selling swim bladders to foreign intermediaries who trade
them for vast profits in China and Hong Kong.

 

A 2020 Traffic study on the fish maw trade found that locals and foreigners
from China and India were involved in selling Nile perch swim bladders in
and from East Africa. Once sold to middlemen, the swim bladders are supplied
to processing factories owned by Chinese traders.

 

China previously sourced swim bladders from Mexico, but the totoaba fish
species is now endangered

 

 

Fishermen in search of the organs have been accused of harvesting juvenile
fish that weigh 1 kg or less, which is illegal. Catching immature fish
threatens the sustainability of Lake Victoria's fish species.

 

Rising demand has also led to the use of illegal fishing methods.
Monofilament nets, which Tanzania has banned, have been used to catch Nile
perch due to their ready availability on the Kenyan market. These nets are
made of plastic and don't decompose. Such illicit activities are enabled by
the lack of uniform fishing regulations, especially regarding gear and nets
in Lake Victoria.

 

Otuo told ENACT that the high demand for swim bladders had contributed to
the overfishing of Nile perch in Lake Victoria. This affects the food
security of residents, who are forced to rely on immature fish or the small
dagaa fish species for consumption.

 

The Uganda Fishmaws Traders Association reports that the demand for Nile
perch swim bladders has led to unregulated and illicit gutting and
extraction of the organ. After the bladders are removed, thousands of
kilograms of harvested Nile perch are illegally dumped into Lake Victoria.
Excessive fish waste causes oxygen depletion in the water, which encourages
algae to bloom, and endangers living fish.

 

Various laws in East Africa target illegal fishing, but these national
regulations lack uniformity

 

Various fishing laws in Kenya, Uganda and Tanzania target criminal
activities in East Africa's fishing industry. But these national regulations
lack uniformity and coherence, which hampers the enforcement of the East
African Community Guidelines on Extraction, Processing, and Trading of Nile
Perch Maws.

 

Enforcing these guidelines is vital for controlling the illegal extraction
of Nile perch swim bladders, and the sustainability of the species and fish
maw trade locally and globally. This includes reducing the fishing of
immature Nile perch by ensuring that swim bladders are only extracted from
Nile perch at least 52 cm long.

 

Implementing the East African Community guidelines would reduce the
exploitation by Chinese and Indian traders, and generate more revenue for
governments. Incorporating the guidelines into national fisheries and fish
trade legislation would also help fisheries and customs officials to inspect
and certify swim bladders for export.

 

-ISS.

 

 

 

Uganda: Fuel Price Hikes, School Fees Catch Parliament Attention

Parliament has requested the government to provide updates on its efforts to
address the recent surge in fuel prices that have affected the nation over
the past week.

 

The Speaker Anita Among stressed that although inflation had been contained,
the escalating fuel prices were cause for concern as they would lead to a
general increase in the cost of goods.

 

"Over the past few weeks, we have observed a significant rise in fuel
prices, which poses a risk of cost-push inflation and will ultimately reduce
the disposable income of the population," she stated during a plenary
session on Wednesday, August 30, 2023.

 

 

She urged the executive to take immediate action and update the House on
their response to the situation.

 

At the beginning of this year, the government successfully managed to
control the spike in fuel prices, resulting in a decrease in overall
inflation within the country.

 

MPs are now worried that the recent increase in pump prices may lead to a
rise in inflation once again.

 

Over the past few days, some gas stations have raised their prices in
increments ranging from Shs80 to Shs300, resulting in a marginal increase in
pump prices above the Shs5,000 mark. Although some forecourts have
maintained their pump prices, traders are concerned about the possible
impact of these developments.

 

Interestingly, fewer people are fueling up their cars this year compared to
previous years, according to some pump attendants. Drivers in Kampala have
also observed a sharp rise in the city's average pump price.

 

 

Despite these increases, pump prices have significantly reduced year-on-year
from Shs6,500 and Shs10,000 per litre of gasoline and diesel in 2022. This
has helped to manage inflationary pressures, with headline and core
inflation dropping from 4.9 % and 4.8% in June to 3.9% and 3.8% in July.

 

Additionally, the Speaker expressed concerns about the delayed
implementation of regulations to address excessive school fee hikes, which
put parents at the mercy of unscrupulous school operators.

 

"We have discussed the issue of school fees in this House because some
schools are taking advantage of parents. We need regulations in place to
protect our parents from exploitation. How can we fund government-aided
schools when they charge the highest fees?" she questioned.

 

Sarah Opendi, woman MP Tororo criticised the government for the delay in
standardizing school fees, allowing schools to exploit financially
struggling parents.

 

"It has been over a year since I presented a motion on school fees to the
Committee on Education. We need the committee to conclude on that motion so
that we can effectively discuss and come up with resolutions," she stated.

 

The Speaker also warned parents about neglectful parenting, emphasising that
it contributes to the emergence of negative behaviors among young people.

 

"In order to safeguard the values of the family unit, I urge parents to
actively shape the behavior and character of their children through
effective parenting," she advised.

 

She added, "Most of the time, children are at school, and the teachers take
on the parenting role.

 

Now that the children are back home, parents must take responsibility to
prevent issues such as drug abuse and homosexuality."

 

 

 

 

Uganda: Speaker Raises Concern on Rising Fuel Prices, School Fees

Kampala — Parliament has asked the Government to present efforts to combat
the rising prices of fuel that have rocked the country in the past week.

 

Speaker, Anita Among, said whereas inflation had been contained, there are
worrying signs with the escalation of fuel prices, which she said has the
effect of causing general commodities inflation.

 

"...in the last few weeks, we have witnessed a spike in the pump price of
fuel; this poses a risk of cost-push inflation which will inevitably erode
the disposable income of the population," she said in her communication at
the start of the House sitting on Wednesday 30 August 2023.

 

 

"I urge the executive to urgently address the situation and update the House
on action taken," she added.

 

At the beginning of this year, petrol and diesel prices had spiked, reaching
highs of Shs7000 per litre, which Government successfully contained,
bringing down general inflation in the country.

 

With the recent rise in the pump prices, MPs are concerned that inflation
could be on the rise again.

 

The Speaker also raised concerns on the delayed introduction of regulations
to contain hiking of school fees, which she said makes parents vulnerable to
capricious school cartels.

 

"We have talked about issues of school fees in this House because there are
schools that are exploiting parents; we need the regulations in this House
so that our parents are not exploited; how can we fund government aided
schools yet they are the ones charging the highest amount of money," she
said.

 

 

MP Sarah Opendi (NRM, Tororo) said the delay to standardize school fees
charges by Government allows schools to fleece parents.

 

"It is over a year since I presented a motion on school fees and it was
before the Committee on Education; let the Committee on Education conclude
on that motion so that we can effectively discuss and come up with
resolutions," she said.

 

Speaker Among cautioned parents against lethargic parenting, saying it is
responsible for growing vices amongst youngsters.

 

"In order for us to protect the foundation of family values, I want to urge
parents to actively shape the behavior [and] character of those children by
doing effective parenting," she said.

 

She added: "Most of the time, the children are at school and the teachers do
the parenting; now that the children are back home, parents should take
responsibility to avoid the issue of drugs, [and] homosexuality." -
Parliament of Uganda

 

-Independent (Kampala).

 

 

 

 

Will post-Brexit food checks ever happen?

Yet again it seems that now is not the time to add to the burden of food
importers, with more post-Brexit red tape and charges.

 

Ministers this week further delayed the imposition of post-Brexit checks and
charges on food imported from the European Union.

 

It was the fifth delay to planned changes to the import arrangements for
farm and food imports, and comes amid concern about food price inflation.

 

The government acknowledged for the first time that, when implemented, the
extra red tape and charges would add to overall inflation, albeit by a
modest 0.2%.

 

The checks are now set to be introduced at the end of April 2024.

 

So while the delay followed Treasury concerns about the effect on food
prices - the impact will still be felt when the changes are introduced next
year.

 

One contributor to this extra food import inflation comes from a "common
user charge" on "each consignment" which enters through Dover or the
Eurotunnel as it is checked in at the giant new facility in Sevington, Kent.

 

The charge could be as high as £43 - a manageable problem for bigger
importers but prohibitive for some smaller importers of European food.

 

On top of this, consignments will need to be expensively signed off by
accredited vets.

 

Such extra checks and charges - a move away from years of frictionless free
flowing trade - became inevitable because of the shape of the Brexit deal
agreed with the EU in 2020.

 

Farming groups are concerned that while British exports face the full range
of EU controls, EU exports into the UK continue to be waved through. There
is not a level playing field.

 

There are also concerns about biosecurity because of the lack of checks.

 

Food industry voices more broadly welcomed the move, which shifts the main
change to the spring, when the UK is less reliant on EU food imports. But
they have already termed the extra charges and red tape the "food import
tax".

 

Some expressed scepticism that the changes would happen at all, given the
proximity to a likely general election next year.

 

Ministers are adamant that the moves will go ahead and say they have worked
to minimise the extra red tape.

 

The latest model for the operation of the UK trade border justifies the
changes, saying that the "consequences of a major outbreak of plant or
animal disease on economy could be far more severe" than the 0.2% increase
in inflation.

 

But the Labour Party says it will try to negotiate a veterinary deal with
the EU, if it wins the next election.

 

On Newsnight this week, the party's trade spokesman Nick Thomas-Symonds told
me: "The central purpose of a negotiation is to get food on to people's
table as soon as possible, all of which will end up being more expensive as
a consequence of these checks. We will minimise those checks".

 

The Labour frontbencher made the opposition's most detailed comments about
its strategy should it win an election.

 

He mentioned a bespoke British negotiation building on precedents in EU
deals with Switzerland and New Zealand, which have minimised the need for
new red tape and charges on food trade to and from Europe.

 

The trade-off here though is that minimising these checks would probably
also limit Britain's scope to diverge from EU rules on, for example,
gene-editing and use of certain fertilisers.

 

Mr Thomas-Symonds said his party was not interested in what he called a
"race to the bottom" on standards. The government does not seem to have
prioritised divergence from the EU in this area, as it has in say, financial
services.

 

The end result is that the food industry has one eye on the political polls,
and the possibility that if these checks are introduced in April, they might
be reversed in short order.

 

Or that they might not happen to begin with. A sixth delay is far from out
of the question.-bbc

 

 

 

 

Muhammad Yunus: Leaders urge Bangladesh to end attacks on Nobel laureate

More than 170 global figures have called on Bangladesh's prime minister
Sheikh Hasina to stop the "persecution" of Nobel laureate Muhammad Yunus.

 

Prof Yunus - known internationally as the "banker to the poor" - has been
slapped with swathes of lawsuits, with several more filed in recent weeks.

 

The open letter said these represented an assault on democracy.

 

Ms Hasina responded harshly, accusing the 83-year-old of "begging" for an
international statement.

 

She added that she welcomed international experts to assess the ongoing
legal proceedings against Prof Yunus.

 

While much of the Western world lauds Prof Yunus for his pioneering use of
microloans, Ms Hasina regards the 83-year-old as a public enemy.

 

She has repeatedly described Prof Yunus as a "bloodsucker" of the poor and
accused his Grameen Bank of charging exorbitant interest rates.

 

The bank, which Prof Yunus started in 1983, offers small, long-term loans to
help poor people start their own small businesses. The concept has since
taken off around the world. In 2006, Prof Yunus and the bank were awarded
the Nobel Peace Prize.

 

The letter, whose signatories included former US Secretary of State Hillary
Clinton, Virgin Group founder Richard Branson and U2 lead singer Bono, asked
that the "continuous judicial harassment" of Prof Yunus be stopped.

 

"We sincerely wish that he [will] be able to continue his path-breaking work
free of persecution or harassment," it added.

 

Muhammad Yunus, 'world's banker to the poor'

Many believe Prof Yunus' attempt to create a political party in 2007 with
the apparent support of the military-backed caretaker government angered Ms
Hasina, especially because she was imprisoned at the time.

 

Prof Yunus did not follow through on the plan and has since said politics
"is not [his] cup of tea".

 

What are the cases against Prof Yunus?

Last week, 18 ex-employees of Grameen Telecom, another company Prof Yunus
founded, filed a case accusing him of depriving them of their job benefits.

 

Separately, on August 22, he went on trial for supposedly violating labour
laws.

 

They also come just four months before Bangladesh's next general election
and amid growing calls to ensure free and fair polls.

 

There have been other cases in the past.

 

In 2011, Bangladesh's central bank forced him out of Grameen Bank on the
grounds that he had served beyond the mandatory retirement age of 60.

 

In 2013, the authorities accused Prof Yunus of evading taxes on overseas
income, which supposedly included his Nobel Prize award and royalties from a
book.

 

Prof Yunus' lawyer Abdullah Al-Mamun says these cases are baseless and
influenced by the government.

 

Ali Riaz, a political scientist at Illinois State University told the BBC
that Ms Hasina "deeply resents" Prof Yunus' iconic standing in the world,
even though he has not recently expressed any political ambitions.

 

Some believe Ms Hasina fears Prof Yunus' reputation soaring above that of
her late father Sheikh Mujibur Rahman whom many Bangladeshis revere as the
man who led their country to independence. He was assassinated in 1975.

 

The regime's sustained attacks on Prof Yunus also represent a growing
intolerance of dissent, threatening the democratic principles on which it
was founded, Prof Riaz said.

 

"The sudden rush in filing the cases and trying to get a speedy trial
indicates that fairness and justice are not the objectives but instead
making an example out of him is the goal.

 

"Such behaviour is demonstrated every day against the opposition activists
and critics of the government," he added.-bbc

 

 

 

 

India's Adani Group stung by fresh controversy

India's Adani Group is facing a fresh controversy after a new report says it
used "opaque" funds to bypass rules that prevent share price manipulation.

 

The report alleges the group invested millions of dollars in publicly traded
stocks of its own companies through offshore structures.

 

It names two individual investors who allegedly bought and sold the stocks
on the group's behalf.

 

The Adani Group rejected the claims, calling them "meritless".

 

The report was published on Thursday by the Organized Crime and Corruption
Reporting Project (OCCRP), a global network of investigative journalists.
The Guardian and Financial Times also published stories based on documents
they provided.

 

The Adani Group operates across a wide range of sectors, including
commodities trading, airports, utilities, ports and renewable energy, in
India and other countries. It is led by billionaire Gautam Adani, who is
currently at No. 24 on the Forbes real-time billionaires list.

 

Mr Adani is perceived as being close to Indian Prime Minister Narendra Modi
and has long faced allegations from opposition politicians that he has
benefited from his political ties, which he denies.

 

The businessman was plunged into a major scandal earlier this year after
Hindenburg Research - a US-based short seller - accused his group of
"brazen" stock manipulation and accounting fraud. Hindenburg had also
alleged that the group was using overseas entities and shell companies to
invest money into its own stocks, hence driving up share prices.

 

The group denied the claims, calling them "malicious", but its shares lost
billions in market value and it had to call off a proposed share sale. A
panel appointed by India's Supreme Court is currently supervising an
investigation by the country's market regulator into the allegations.

 

The OCCRP report says that two investors "spent years trading hundreds of
millions of dollars' worth of Adani Group stock". The two men, it says, have
"close ties to the Adani family" and have been directors and shareholders in
companies associated with the group.

 

The BBC has not independently reviewed the allegations.

 

OCCRP said there was no evidence that the funds they used for their
investments were from the Adani family.

 

But it added that the reporting and documents reviewed by their journalists
showed there "is evidence" that their trading in Adani stock "was
coordinated with the family".

 

The OCCRP said the question of whether this arrangement is a violation of
the law rests on whether the two investors "should be considered to be
acting on behalf of Adani 'promoters', a term used in India to refer to the
majority owners of a business".

 

There was no immediate public reaction from the two men but the Adani Group
questioned the timing of the news report, calling it "suspicious,
mischievous and malicious".

 

"We have complete faith in the due process of law and remain confident of
the quality of our disclosures and corporate governance standards," it said.

 

Shares of Adani Enterprises, the group's flagship company, were trading down
2.82% on the benchmark BSE index.-bbc

 

 

 

 

Ukraine war: Russia pledges to give BAE's business 'attention'

Russia has said that BAE System's new business in Ukraine will be an "object
of special attention" for its military.

 

The UK defence giant has signed deals to ramp up weapons and equipment
supplies to Kyiv, which include ultimately producing light artillery in the
country.

 

Kremlin spokesman Dmitry Peskov said the Russians saw the move "in a
negative light".

 

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

 

Since Russia's invasion of the country in February 2022, Britain has become
a major defence supplier to Ukraine.

 

The BBC understands that BAE has not yet opened an office or factory in
Ukraine but is in discussions about potentially doing so.

 

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

 

"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.

 

But Mr Peskov responded to the decision saying: "We of course see it in a
negative light, and any facilities for the production of weaponry,
particularly if that weaponry shoots at us, do of course become an object of
special attention for our military".

 

Interfax news agency said the Kremlin's spokesman said foreign arms
production in Ukraine "cannot fundamentally change the situation".

 

"It also cannot in any way influence the predetermined successful outcome
and completion of the special military operation," he added

 

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

 

 

 

Octopus to buy Shell's household energy firm

Octopus has announced it will buy Shell's household energy business in the
UK and Germany.

 

Octopus Energy said that it will take over providing energy for 1.4 million
homes as well as broadband services for 500,000 customers.

 

Shell's customers are advised to "sit tight for now" as the deal is not
expected to be completed until later this year.

 

It is the latest expansion for Octopus which bought Bulb after its collapse.

 

That deal - which rival energy providers challenged in the UK High Court
over state support - gave Octopus an additional 1.5 million customers.

 

With Shell, its total customer base will grow to nearly 6.5 million
customers.

 

Shell and Octopus both refused to disclose how much the business is being
sold for.

 

Octopus said: "There will be a smooth transition and no disruption to
customer energy supply, all Shell energy and broadband customers will be
contacted about the next steps following regulatory approval.

 

"Customer credit balances are protected, and will automatically get
transferred to their new account with Octopus together with their existing
direct debits."

 

Shell said the sale is part of plan announced earlier this year to exit its
household energy businesses in the UK, Germany and the Netherlands.

 

The companies are hoping the sale will be finalised in the final three
months of this year, subject to regulatory approval.

 

Octopus has grown to become the UK's second largest domestic energy
provider. However, its attempt to acquire Bulb faced opposition by the likes
of British Gas, which is owned by Centrica, as well as Eon and Scottish
Power.

 

They went to the High Court to argue it was unfair of the government to
extend interest free loans to Octopus for rescuing Bulb which collapsed in
2021 following a spike in wholesale energy prices. The firms were ultimately
unsuccessful in their legal challenge.-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 

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

Twitter:         @bullsbears2010

LinkedIn:       Bulls n Bears Zimbabwe

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

Skype:         Bulls.Bears 



 

 

 


 

INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


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

 


 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230904/23d62eb4/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230904/23d62eb4/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.png
Type: image/png
Size: 359722 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230904/23d62eb4/attachment-0004.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 118578 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230904/23d62eb4/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.jpg
Type: image/jpeg
Size: 41189 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230904/23d62eb4/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230904/23d62eb4/attachment-0005.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image006.jpg
Type: image/jpeg
Size: 29361 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230904/23d62eb4/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65558 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230904/23d62eb4/attachment-0001.obj>