Major International Business Headlines Brief::: 06 September 2023

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Major International Business Headlines Brief::: 06 September 2023 

 


 

 


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

 


 

 


 

ü  Tanzania: Govt Out to Encourage Investment in Livestock, Fisheries Sector

ü  Tanzania: Govt Underlines Effective Youth Involvement in Agriculture

ü  Nigeria Unions Stage Warning Strike Amid Rising Living Costs

ü  Rwanda: Five Rwandans Who Secured Funding From Jack Ma's Alibaba

ü  Africa: UAE Pledges U.S.$4.5 Billion Investment in Clean Energy for Africa

ü  Ghana: Vodafone Ghana Introduces 'Grow Western 2023 Initiative'

ü  Ghana: Police Launch Traffitech-GH to Improve Road Traffic Safety

ü  Kenya: Alex Okosi Picked to Lead Google Operations in Africa

ü  Somalia: PM in Qatar to Explore Joint Investment Opportunities

ü  Kenya Pipeline Company Starts Drawing Fuel From Septic Tank in Kisumu

ü  Kenya Signs 3 MOUs With South Africa, Sweden and Hong Kong to Boost Trade Ties

ü  Uganda: Relief as Buses Are Allowed to Resume Using Katonga Bridge

ü  Chevron and unions in talks to avert Australia LNG strike

ü  Arm Holdings: Chip giant hopes for market value of more than $50bn

ü  TikTok opens Dublin data centre to ease China spying fears

 


 

 


 

 <https://www.cloverleaf.co.zw/> Tanzania: Govt Out to Encourage Investment in Livestock, Fisheries Sector

THE government is eager to capture opportunities in the agriculture, livestock and fisheries sector that will arise from the AGRF Africa Food Systems Forum 2023.

 

Deputy Permanent Secretary in the Ministry of Livestock and Fisheries Dr Daniel Mushi disclosed this recently during a tour carried out by a section of the forum's participants at Mbopo Ranch in Ubena area of Chalinze District in the Coast Region.

 

"The country is prepared to embrace this opportunity emanating from the prestigious international forum taking place in our soil," said Dr Mushi, calling upon Tanzania to open their eyes and ears as well as take part in the forum, so that the nation can highly benefit from the forum.

 

 

He identified some of the opportunities which can be sought within the country specifically touching the food systems including vast investment land for agriculture and livestock, noting that the country possesses 15 ranches owned by individuals including that of Mbogo area.

 

Besides, the Deputy PS noted that Tanzania has been doing outstandingly well in the area of processing and selling meat outside the country, whereby 14,000 tonnes of meat about 14 million Kg exported, the goal being to sell 16,000 tonnes.

 

He pointed out that the goal will be realized by encouraging investment in the livestock sector, citing an example of the Mbogo area in further improving the many aspects that will complement the goal," he said.

 

Thus, the forum was indeed crucial for Tanzania taking into account the major government goal is to attract more investment and new markets to further boost the livestock and fisheries sectors.

 

 

"We also intend to promote our opportunities to the world through the forum...we want the world to know and acknowledge that our meet is among the best and safest," he said.

 

He called upon Tanzanians who will be taking part in the forum to come prepared with concept notes of their businesses, an initiative which promotes and triggers investment.

 

The Director of Mbogo Ranch Mr Naweed Mulla revealed that the company was ready to effectively take part in the forum as well as display key initiatives being taken by the country in executing livestock keeping.

 

"We encourage our fellow citizens to explore opportunities in the livestock sector...modern livestock is possible, quality cattle and goat breeds can generate huge incomes, thereby contributing to individual and country development," said Mr Mulla.

 

A participant of the forum who was present on the visit from Famsun which is involved in agricultural issues in China, Joy Lee said that in a short time she has learned and witnessed many opportunities available in Tanzania including the marketing area.

 

He pledged to advise other companies from China to come and invest in Tanzania and use modern technologies.

 

"In China, breeding is done successfully using only a small area," he said.

 

-Daily News.

 

 

 

 

Tanzania: Govt Underlines Effective Youth Involvement in Agriculture

FINANCE Minister Dr Mwigulu Nchemba has underscored the necessity to engage more youth in agriculture for the country to raise revenue base and create more jobs.

 

"If you want to increase revenue and create more jobs the youth engagement in agriculture is unavoidable," Dr Nchemba stated on Tuesday at the 2023 AGRF sideline event which involved Minister for Agriculture and Minister for Livestock and Fisheries from mainland as well Zanzibar's Minister for Agriculture, Irrigation, Natural Resources and Minister for the blue economy.

 

Dr Nchemba stated that agriculture has enormous job opportunities for the youth, instead of waiting for the collar jobs.

 

 

Speaking about what the government was doing to lure more young people to the agriculture, Dr Nchemba, noted that efforts have been made to rebuild the mentality among the youth that there is business in the agriculture value chain.

 

"This helps to reduce that negative mentality to the agriculture. We have also increased the agriculture budget by four times reaching over 970bn/- currently," he told the gathering which involved local and foreign investors in the sector.

 

Earlier, Agriculture Minister for mainland, Mr Hussein Bashe pointed on the current phenomena of how the global crisis has affected global economies, saying it is high time that African countries partner and highlight opportunities available in the globe.

 

"In Tanzania, we are ready in terms of policies for the agricultural transformation. Tanzania has about 44 million hectares of arable land for agriculture, but only between 12 and 15 per cent is utilised," Mr Bashe stated.

 

 

He said the production was still low and almost 70 per cent of farmers are smallholder farmers.

 

Based on the statistics, the country is doing a lot of transformation, including increasing the agriculture budget, he said.

 

Also, the government is putting up an enabling infrastructure for producing quality seeds.

 

"The government will continue to invest in seed research and allow the private players to do seeds multiplication, and the government will check how they distribute to small holder farmers at subsidized prices," Mr Bashe said.

 

On the other hand, he encouraged investors to come to Tanzania to invest in the sector in order to support small farmers to increase productivity in the agriculture and make the African continent independent in food production.

 

He said through the 2023 AGRF, the ministry will show the country's available opportunities in agriculture sector to the world.

 

On his part, Livestock and Fisheries Minister Abdallah Ulega, said in order to improve and enhance application of technologies and further improve infrastructure in agriculture, livestock and fisheries value chain, more capital was required to be injected by financial institution, while it was also crucial to attract more investments.

 

-Daily News.

 

 

 

 

Nigeria Unions Stage Warning Strike Amid Rising Living Costs

Nigeria's biggest workers' association threatened to shut down the nation's economy if its demands are not met. The warning strike was prompted by the government canceling a fuel subsidy.

 

Workers in Nigeria staged a walkout on Tuesday, protesting the government's handling of the rising cost of living.

 

The Nigeria Labour Congress (NLC), the countries largest workers association, called for a two-day warning strike in response to the government's decision to repeal a fuel subsidy.

 

In a meeting with Nigerian president Bola Tinubu last week, representatives of the union decried the "massive suffering" that this policy had caused for Nigerians.

 

What do workers want?

 

The striking workers are demanding an increase to their wages, which they say are not enough amid the economic crisis.

 

Rising transport costs are especially critical, and have left many workers unable to pay for their commute, according to NLC President Joe Ajaero.

 

 

Should the government not meet the association's demands for improved welfare, including an increase in workers' wages, Ajaero said there would be a "total and indefinite shutdown of the nation" within weeks.

 

Government's bid to stop the strike

 

Government attempts to fend off the nation-wide protest failed on Monday evening, when union leaders rejected a meeting with the Nigerian labor ministry.

 

Nigeria's Minister of Labour and Employment, Simon Lalong urged the NLC to call of the strike.

 

"Such action would be detrimental to the gains already being recorded on our course to securing a greater future for Nigerian workers and citizens at large," Lalong said in a statement televised by TVC News Nigeria.

 

Unions already went on strike in August over the repealed fuel subsidy but suspended it after talks with the government.

 

Nigerian President Bola Tinubu, who took office in May, removed the fuel subsidy on his first day as president. The measure cost the Nigerian state $10 billion (€ 9.3 billion) in 2022.

 

Tinubu is seeking to to reduce public spending, strengthen the Nigerian currency and attract investors. But critics say has caused economic hardship for millions of Nigerians who are struggling with soaring inflation and food prices.

 

fg/dj (AP, DW sources)

 

 

 

 

Rwanda: Five Rwandans Who Secured Funding From Jack Ma's Alibaba

Albert Munyabugingo, an innovative Rwandan and co-founder of the local tech solution delivery company VubaVuba, was announced recently as one of ten African entrepreneurs awarded a total of $1.5 million (over Rwf1.7 billion) in funding through Africa's Business Heroes (ABH), an initiative supported by the Jack Ma Foundation and Alibaba Philanthropy.

 

Munyabugingo marks the fifth Rwandan entrepreneur to receive funding from Alibaba since the initiative, launched by Chinese billionaire Jack Ma in 2019, was initiated. Below The New Times compiles the other innovators who got funding from the Chinese company.

 

 

Francine Munyaneza

 

One of the four Rwandan entrepreneurs to secure funding from the Alibaba initiative is Francine Munyaneza. She founded MUNYAX ECO in 2013, a company dedicated to providing clean and affordable solar energy solutions while championing women-led innovations. Her work has brought energy access to thousands of individuals in East Africa, with women constituting 60 percent of the beneficiaries.

 

In 2022, Munyaneza was recognized in the Africa's Business Heroes Competition, winning a substantial grant of US$100,000. She intends to allocate the funds primarily to cold chain technology, which includes solar cold rooms and freezers available through reasonable lease agreements. These innovations are expected to create new employment opportunities during construction and operation while reducing post-harvest losses for local farmers.

 

Yvette Ishimwe

 

 

Yvette Ishimwe, founder and CEO of IRIBA Water Group, is another recipient of funding from Alibaba philanthropy. The organization received a share of Jack Ma's $1.5 million grant in 2021. IRIBA Water Group specializes in installing solar-powered pumps in remote valleys, catering to lower-income rural communities lacking access to safe drinking water and household use.

 

Ishimwe emphasizes the importance of scaling up this innovation across the country to benefit communities still lacking clean water access, aligning with the government's goal of achieving 100 percent access. Her social enterprise has already provided clean water to approximately 100,000 people through water plants and water ATMs in streets and schools.

 

Christelle Kwizera

 

Christelle Kwizera, a social entrepreneur and founder of Access Water Rwanda, achieved recognition as an outstanding winner in the 2019 Africa's Business Heroes (ABH) initiative, securing a $100,000 grant. Her enterprise focuses on treating spring water for supply to rural families and harvesting rainwater for urban communities.

 

Kwizera's innovation extends to treating rainwater for drinking and potable purposes. To date, her efforts have positively impacted over 100,000 individuals, ensuring they have access to clean water daily. She aims to reach 30 million people in Africa over the next decade, with the goal of providing clean water to 30,000 individuals in three countries, including Rwanda, by the end of 2024.

 

Kevine Kagirimpundu

 

Kevine Kagirimpundu, the co-founder and CEO of UZURI K&Y, leads an African-inspired eco-friendly shoe brand that champions sustainability through its innovative use of 4R technology: recycling, reusing, recovering, and reducing car tires to create eco-friendly footwear.

 

Established in 2013 by Kevine Kagirimpundu and Ysolde Shimwe, the company addresses pressing environmental and unemployment challenges within their community. In 2019, Alibaba recognized Kagirimpundu as one of the top 10 business heroes driving change across Africa, awarding her a prize of $65,000.

 

-New Times.

 

 

 

 

Africa: UAE Pledges U.S.$4.5 Billion Investment in Clean Energy for Africa

The United Arab Emirates (UAE) has pledged $4.5 billion in clean energy investments in Africa at the landmark Africa Climate Summit in Kenya's capital Nairobi on Tuesday.

 

The investment is designed to "jumpstart a pipeline of bankable clean energy projects in this very important continent", Sultan Al Jaber, head of the UAE's national oil company ADNOC and government-owned renewable energy company Masdar, said.

 

Jaber, who is also president of the COP28 climate summit, added that a consortium, including Masdar, would help develop 15 gigawatts of clean power by 2030.

 

 

He called for a "surgical intervention of the global financial architecture that was built for a different era", urging institutions to lower the debt burden on some countries.

 

At #ACS23 this morning the @COP28_UAE President Dr Sultan AlJaber made a transformational $ USD 4.5 billion pledge to help finance African climate projects while calling on all donors to double their climate financing #turningthetide #climatefinance pic.twitter.com/y4biO6eczV-- Emily Jayne Laurie (@EmilyJayneLauri) September 5, 2023

 

International 'responsibilities'

 

The three-day Nairobi summit has gathered heads of state, government and industry, including leaders from Mozambique and Tanzania, as well as United Nations head Antonio Guterres, EU chief Ursula von der Leyen and US climate envoy John Kerry.

 

The UN Secretary-General Tusday also urged the international community to help make Africa "a renewable energy superpower," adding that "...renewable energy could be the African miracle.

 

 

He called on leaders of the Group of 20 major economies in particular, who will meet in India at the weekend, to "assume [their] responsibilities" in the fight against climate change.

 

📢Now live: High-level opening of the presidential session at the Africa Climate Summit/#AfricaClimateWeekSpeakers include UN Secretary General @antonioguterres, @COP28_UAE president Dr. Sultan Al Jaber and many other distinguished leaders.Watch here: https://t.co/EWK2ACfnRp-- UN Climate Change (@UNFCCC) September 5, 2023

 

Before the summit opened, Crisis Group senior analyst on climate, environment and conflict, Nazanine Moshiri, told RFI English that experts also hoped that the disasters linked to climate crisis wouldn't be forgotten, especially the need for conflict resolution in regions like the Horn of Africa and the Sahel, both profoundly impacted by climate change.

 

A coalition of civil society groups has been urging Kenya's President William Ruto to steer global climate priorities away from what they perceive as a Western-led agenda that champions carbon markets and other financial tools to redress the climate crisis.

 

Green investments and shift in perception

 

The summit aims to showcase the continent's potential as a green powerhouse and focused on drawing investment to projects to fight global warming.

 

Ruto has sought to use this Africa Climate Summit in Nairobi to shift the narrative on the region, and to present clean energy transition as a unique opportunity for Africa.

 

He believes it can attract the financing to realise its potential.

 

Ruto said trillions of dollars in "green investment opportunities" would be needed as the climate crisis accelerates.

 

His goal is also to bring together African leaders to define a shared vision for green development on the diverse continent of 1.4 billion.

 

-RFI website.

 

 

 

 

Ghana: Vodafone Ghana Introduces 'Grow Western 2023 Initiative'

Vodafone Ghana has unveiled its 'Grow Western 2023 initiative', a comprehensive programme tailored for the Western Region.

 

With this initiative, Vodafone hopes to incentivise customers, improve health care, increase tech knowledge, and foster community growth.

 

"Grow Western illustrates our commitment to the Western Region's growth and prosperity. We believe in the power of community, and we aim to contribute meaningfully to customer loyalty, health care and education," Mr David Umoh, Consumer Business Director, Vodafone Ghana, said in a statement issued in Accra yesterday.

 

Central to the initiative, he said, was Vodafone's dedication to rewarding loyalty, adding that the telecom company was organising events to honour their customers and partners in the area.

 

 

In addition to this, he said, Vodafone was also intensifying its commercial efforts in the region through Merchant Storms, sales events, and a strategic partnership with the Ghana Private Road Transport Union (GPRTU), enabling drivers to purchase fuel using Vodafone Cash.

 

The Vodafone Ghana Foundation will lead several health programmes under its Connected Health pillar.

 

'Homecoming' will settle hospital bills and offer free National Health Insurance cards to insolvent patients.

 

'Rural Ultrasound Scan' will help expectant mothers in remote areas to get prenatal care on time, reducing maternal mortality. 'Healthfest' will offer free medical screenings to prevent and detect health problems early on.

 

The Foundation's Connected Education programme will bring STEM activities to primary schools to improve learning outcomes and bridge the technology gap. This endeavour is geared towards fostering a tech-savvy generation ready to face the challenges of the modern world.

 

Vodafone's Retail Transformation project, which has seen the establishment of Vodafone Community Shops nationwide, is also ongoing in the region.

 

The project, which began in June this year, has already seen the successful launch of 43 Vodafone Community Shops nationwide, with another 72 in the pipeline.

 

A total of 12 shops have been inaugurated in the region as part of the 'Grow Western' programme.

 

-Ghanaian Times.

 

 

 

 

Ghana: Police Launch Traffitech-GH to Improve Road Traffic Safety

Bolgatanga — The Motor Traffic and Transport Department (MTTD) of the Ghana Police Service (GPS), in conjunction with the National Road Safety Authority (NRSA), has developed an automated system, christened, "Traffitech-GH", to streamline the enforcement of road traffic laws and regulations to improve road safety in Ghana.

 

The automated system will help check the disorder, lawlessness and rampant issues of road traffic carnage and its associated injuries and deaths, as the continuous failure by road users to comply with the road traffic regulations over the years.

 

Speaking at a stakeholders meeting held in Bolgatanga, capital of the Upper East Region, the Director of Education, Research and Training at the MTTD of the Ghana Police Service, Chief Superintendent Alexander Kwaku Obeng, said the Traffitech-GH system which had been designed by the Ghana Police Service, in collaboration with other major stakeholders in the country, particularly the NRSA, would find the antidote to the ever increasing preventable crashes, "with its attendant damage to property, injuries to persons and the fatalities that come with it".

 

 

According to him, the system had deployed cameras and sensors at strategic locations: in vehicles, by the road, among others, and it would automatically take a picture or video of vehicles that flouted road traffic laws and regulations, such as breakneck speeding and running of red lights.

 

The Traffitech-GH project, he explained, would in addition deploy

 

fixed, mobile/in-vehicle and radar gun devices to capture speeding vehicles and those that jumped red lights.

 

 

Pictures and videos recorded of the offence are automatically transmitted to a back office for validation and issuance of a notification by SMS to the vehicle owner for payment, Chief Supt Obeng added.

 

The Upper East Regional Police Commander, Deputy Commissioner of Police (DCOP), Darko Offei Lomotey, who gave a welcome address on behalf of the Inspector General of Police (IGP), Dr George Akufo Dampare, said the implementation of Traffitech-GH automation system was going to address the issue of road traffic and related carnage head-on, and pleaded with the public to help in seeing to the full implementation of the project.

 

On his part, the acting Director General of the National Road Safety Authority (NRSA), David Osafo Adonteng, thanked the MTTD for birthing the idea and rolling out the new technology, saying it would enhance enforcement of road traffic laws and regulations, especially with the objective of minimising road crashes, injuries and deaths.

 

He indicated that although the country had seen some significant improvement in the reduction of road traffic crashes in the first half of 2023, as compared to the same period in 2022, Ghanaians could not boast of the strides, as more than thousands of people had lost their lives following the crashes on the road.

 

-Ghanaian Times

 

 

 

Kenya: Alex Okosi Picked to Lead Google Operations in Africa

Nairobi — Google has picked Alex Okosi to lead its operations in Africa starting today.

 

Following the appointment, Okosi will take over as the tech firm's new Managing Director (MD).

 

Previously, the Nigerian served as MD for YouTube in the Europe, the Middle East, and Africa (EMEA) region.

 

In his new role, he will be responsible for Google's operations in Africa, including programs to help businesses and economies on the continent grow, as well as expanding access and providing tools to help the next billion users get more from the Web.

 

 

"Alex is a proven leader with a wealth of experience in the media and technology industries. He has a deep understanding of African countries and a passion for using technology to empower people and businesses," said Meir Brand, Vice President, EMEA Emerging Markets at Google.

 

Okosi is a seasoned media, entertainment, and technology leader.

 

Prior to joining YouTube, he held the positions of Executive Vice President and Managing Director of Viacom International Media Networks Africa and BET International.

 

In his most recent position at YouTube, Okosi played a pivotal role in steering the platform's growth and expansion across Africa, the Middle East, and Turkey.

 

"I am excited at the prospect of leading Google's team in Africa and the opportunity to be an even closer part of this diverse and dynamic region, which is so close to my heart," said Okosi.

 

"I'm a firm believer in the potential for technology and, in particular, the internet to improve people's lives and to help individuals and businesses in Africa to thrive."

 

Google has been operating in Africa for over a decade and has offices in Ghana, Kenya, Nigeria, and South Africa.

 

-Capital FM.

 

 

 

Somalia: PM in Qatar to Explore Joint Investment Opportunities

Doha — Somalia's Prime Minister Hamza Abdi Barre landed in Qatar on Monday for a five-day visit where he is scheduled to meet with top officials in a bid to expand ties between Doha and Mogadishu across multiple fields.

 

The Somali diplomat is expected to meet with Qatar's Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al Thani and a delegation of Qatari businessmen.

 

Reports published ahead of Barre's arrival said Qatar and Somalia will also sign a number of agreements on investments in Mogadishu.

 

In May, Somalia's President Hassan Sheikh Mohamud travelled to Doha for an official visit where he met with Qatar's Amir Sheikh Tamim bin Hamad Al Thani. Discussions at the time were centred on political developments on the ground in Somalia.

 

 

Speaking to Doha News at the time, Somalia's Deputy Prime Minister Salah Jama noted that Qatar's leadership in conflict resolution and peace-building could significantly assist Somalia's pursuit of peace and stability.

 

"Qatar can play a very significant role in our pursuit of peace and stability, economic growth, and political agreements and settlements," he told Doha News during his visit to the Gulf state.

 

The small Gulf nation assumed a major diplomatic role in 2021 during reconciliation between Kenya and Somalia, which occurred following a dispute that saw the latter accuse Nairobi of interfering in its internal affairs.

 

Meanwhile, in June, Qatar renewed its support for all peace efforts in Somalia by hosting a five-party meeting on the country's situation in Doha.

 

 

Officials from Somalia, the United States, the United Kingdom, the United Arab Emirates and Turkey attended the meeting in the Qatari capital, chaired by Qatar's Minister of State for International Cooperation at the Ministry of Foreign Affairs Lolwah Al Khater.

 

Washington had hosted a previous meeting on the issue, in which officials from the quintet "discussed how to better support Somalia's fight against Al-Shabaab and prepare for the African Union Transition Mission in Somalia drawdown".

 

Translating to 'The Youth' in Arabic, Al Shabaab first emerged as the extremist youth wing of the now-defunct Union of Islamic Courts in Somalia, which ruled Mogadishu in 2006 before Ethiopian forces drove them out.

 

Al-Shabaab holds connections to other militant groups in Africa, including Boko Haram in Nigeria, and Al-Qaeda in the Islamic Maghreb, which is based in the Sahara desert.

 

The group seeks to overthrow the central government of Somalia and install its own system of governance based on a strict application of Islamic law, also known as sharia.

 

Protracted humanitarian crisis

 

Aside from its diplomatic efforts, Qatar has played key humanitarian efforts on the ground in Somalia as it continues to grapple with a worsening situation that has been exacerbated by drought.

 

Qatar joined efforts with the US and the UK to launch a $10.5 million drought assistance aid to Somalia in June. The major donation allowed the Building Resilient Communities in Somalia (BRCiS) consortium to continue providing life-saving services in the crisis-hit country.

 

Meanwhile, in April last year, Qatar announced plans to invest $1.5 million as part of an emergency response and "resilience-building" in Somalia.

 

-Shabelle.

 

 

 

 

Kenya Pipeline Company Starts Drawing Fuel From Septic Tank in Kisumu

Kisumu — Kenya Pipeline Company has started the process to empty super petrol from a septic tank in Lolwe estate in Kisumu.

 

Kisumu County Commissioner Alasan Hussein says the process has kicked off as relevant authorities continue with investigations into the siphoning of fuel from the main pipeline from Nairobi to Kisumu.

 

Hussein says no suspect has been arrested so far since the occupants of the house escaped when a leakage was noticed.

 

A leakage was noticed on Monday evening drawing suspicion, before boda boda riders started to scoop fuel that was flowing in a local stream.

 

Hussein says Kenya Pipeline Company has taken measures aimed at averting any danger within the locality.

 

"Security has been beefed up here since this is a crime scene. Everybody has been kept at bay and there is no more scooping of fuel," he said.

 

Addressing the press after an assessment of the scene by the county security team, Hussein said investigations will reveal what really transpired after similar incidents were reported.

 

There were two similar incidents reported, one in Kibos, the other in Koru, with similar techniques.

 

Kenya Pipeline Company officials at the scene declined to comment on the matter.

-Capital FM.

 

 

 

Kenya Signs 3 MOUs With South Africa, Sweden and Hong Kong to Boost Trade Ties

Nairobi — Kenya yesterday inked three deals with South African, Hong Kong, and Swedish firms to boost economic ties between the countries.

 

The firms include South Africa's Agri All Africa, Hong Kong's Volar Electric Aircraft, and Swedish Cool Go Green.

 

Trade cabinet secretary Moses Kuria says the environmentally friendly investment deals will sustainably enhance food security and air travel.

 

The deal with Cool Go Green seeks to tap sunlight to power food preservation using solar in efforts to scale down food waste and post-harvest losses.

 

 

Agri All Africa, on the other hand, has pledged to put 31,000 hectares of land in the Tana Delta under climate-smart rice irrigation anchored on food security in the country.

 

Voltic Electric Aircraft, on its part, is on a spree of tapping into the e-mobility sector by introducing the manufacture and assembly of electric aircraft in Kenya.

 

Speaking during the inking of the deal on the sidelines of the Africa Climate Summit currently underway in KICC, Kuria confirmed that the deals will go a long way in creating employment for more than 40,000 Kenyans.

 

"I am very delighted because what we have signed today represent thousands of job opportunities for our youth, enhanced food security and injection of foreign direct investment," said Kuria.

 

The CS has revealed that up to 40 percent of food in Kenya is lost to post-harvest losses, which is partly blamed on food preservation gadgets that are expensive to buy and maintain.

 

-Capital FM.

 

 

 

Uganda: Relief as Buses Are Allowed to Resume Using Katonga Bridge

Roads body, UNRA has allowed buses to resume using Katonga Bridge along the Kampala-Masaka highway.

 

In a statement issued on Monday, UNRA said apart from pedestrians, motorbikes, salon cars, SUVs, station wagons, commuter taxis and 28 seaters also known as coasters, buses can too resume using the bridge.

 

"As a result, the existing bridge has now been opened to all buses in addition to the light vehicles that were earlier permitted to use the section under the precautionary measures that are to be implemented immediately by the contractor (China Communications Construction Company Ltd) during this time," a statement by UNRA said.

 

 

"All permitted traffic is therefore strongly urged to follow the signage in place and all the traffic guidelines established at a safe approach distance to the bridge."

 

According to UNRA, the greenlight for buses to resume using the bridge followed continuous technical monitoring and recent assessment and it was established that it can withstand loading up to 30 tonnes.

 

Providing progress on the restoration works, UNRA said works on the second phase of the construction of the steel bridge are ongoing to enable full restoration of traffic at Katonga section before permanent works can commence.

 

Relief

 

Allowing buses to resume using Katonga Bridge is a sigh of relief to many, including passengers, especially those coming from Western Uganda who on top of hiked transport fares had to brace for the long and tiring distance via Gomba and Ssembabule.

 

It is also a sigh of relief for drivers and owners of bus companies who had to incur a lot in terms of fuel and time.

 

The journey via Gomba had seen a number of accidents since the road has a number of corners but also new to many drivers.

 

In May, part of Katonga Bridge curved in following heavy rains that came with floods to cut off the Kampala-Masaka Highway.

 

 

 

 

Chevron and unions in talks to avert Australia LNG strike

Chevron and unions representing workers at two major liquefied natural gas (LNG) facilities in Australia are holding last-ditch talks ahead of planned industrial action.

 

Workers are set to start a series of work stoppages from Thursday in the dispute over pay and conditions.

 

If their terms are not met, they plan to escalate to a total strike.

 

Concerns about the stoppages recently pushed up prices in natural gas markets.

 

The US energy giant's Gorgon and Wheatstone plants in Western Australia account for more than 5% of global LNG capacity.

 

Australia's industrial arbitrator, the Fair Work Commission, has been hosting mediation talks between Chevron and the Offshore Alliance - which is a partnership of two unions representing energy workers.

 

"Lower level strikes looks set to start tomorrow, which will add inefficiencies but are unlikely to materially impact global supply," energy analyst, Saul Kavonic told the BBC.

 

However, the threat of rolling full stoppages from 14 September could potentially have an impact on global energy markets.

 

"In the unlikely event the situation escalates to full stoppages, then around 6% of global supply would come offline, which could see prices spike if the strikes were to be prolonged into northern hemisphere winter," Mr Kavonic said.

 

Tim Harcourt from the Institute for Public Policy and Governance at the University of Technology Sydney said he does not expect a protracted strike.

 

"Generally, Australian disputes don't last very long because the Fair Work Commission is designed to intervene very early so we don't have the long disputes you get in the USA or the UK," he said.

 

"Having said that, because it's a significant industry with 500 workers, it could have some impact on global supply. But I don't think we're at that stage yet."

 

Russia's invasion of Ukraine last year sent oil and gas prices soaring, leading to a sharp rise in energy bills for homes and businesses.

 

Wholesale energy prices have now fallen from the highs but this week oil prices rose after Saudi Arabia and Russia extended their cuts to supplies to the end of the year.

 

On Tuesday, Brent crude closed above $90 a barrel for the first time since November.

 

Russia has also slashed supplies of natural gas to Europe, which led countries to seek out alternative sources of energy. Many countries are relying on LNG to fill the gap.

 

Australia is one of the world's largest exporters of LNG, along with Qatar and the US, and its supplies have helped to cool global energy prices.

 

LNG is methane, or methane mixed with ethane, cleansed of impurities and cooled to approximately -160C.

 

This turns the gas into a liquid and it can then be shipped in pressurised tankers.

 

At its destination, LNG is turned back into gas and used, like any other natural gas, for heating, cooking and power.-bbc

 

 

 

 

Arm Holdings: Chip giant hopes for market value of more than $50bn

Arm, the UK-based chip designer, is hoping to clinch a market value of more than $50bn (£40bn) in its first sale of shares to the public since 2016.

 

The company, which designs chips for devices including smartphones and game consoles, is seeking to raise nearly $5bn in the listing in the US.

 

Expected to be the biggest offering of the year, it is seen as a test of market confidence.

 

It follows heavy lobbying from the UK government to list in London.

 

Prime Minister Rishi Sunak had personally intervened in talks before the decision to pursue the listing on the Nasdaq was announced earlier this year.

 

Chief executive Rene Haas has said the company will keep its material intellectual property, headquarters and operations in the UK.

 

A star of the British tech industry, Arm Holdings estimates that 70% of the world's population uses products that rely on its chips, including nearly all of the world's smartphones.

 

The company is owned by Japanese investment giant Softbank, which took over the company in 2016 in a deal that valued the firm at $32bn. Prior to the purchase, it was listed in both London and New York for 18 years.

 

Softbank will continue to own 90% of the company's shares after the share sale, which is smaller than initially proposed. Shares are expected to start trading next week.

 

In a regulatory filing on Tuesday, Arm said it was selling 95,500,000 shares in the deal at a price expected to be between $47 and $51 per share. That would put its market value at between roughly $50bn and $54bn.

 

It said it had already lined up some of its big-name customers, including Apple, Google and Nvidia, as investors, who have committed to buying about $735m worth.

 

Softbank, which faced big losses on investments such as co-working firm WeWork, had previously explored selling Arm to Nvidia in a deal worth about $40bn. That effort was dropped in 2022 after authorities raised competition concerns.

 

The latest plan offers a way to gradually reduce its holdings.

 

With semiconductors at the frontline of the power struggle between the US and China over technology, the share offering is being closely watched.

 

China accounts for about 25% of the company's sales, which have been hurt by a slump in smartphone shipments in recent months. The company has previously reported that overall revenue was roughly flat for the year ending 31 March.-bbc

 

 

TikTok opens Dublin data centre to ease China spying fears

TikTok has opened its first European data centre to alleviate fears over Chinese state surveillance.

 

The firm says European users' data is now migrating to servers in Dublin, as part of its ongoing response to data privacy concerns around the video-sharing app's links to China.

 

TikTok, which is owned by Chinese firm ByteDance, says it has never given data to Beijing.

 

Critics fear that the Chinese state could request access anytime.

 

The video-sharing giant is also allowing a European security company access to audit cyber-security and data protection controls.

 

TikTok has called this "Project Clover", nodding to the pivotal role that Ireland is playing. It is running in parallel with "Project Texas", which involved promising similar measures to US lawmakers in 2020.

 

Earlier this year TikTok faced a number of government restrictions on its use on cyber-security and privacy grounds.

 

A spate of institutions decided to ban the app from officials' devices, including the UK government, the European Parliament, the European Commission, and the EU Council.

 

Keeping data in Europe

A key concern of European security officials is the risk that the data that TikTok holds on its users would be accessed by the Chinese state.

 

Authorities imposing bans have warned that emails, contacts and other communication could be accessed by Beijing as a result of having the app on devices.

 

As part of its effort to ease these concerns, TikTok will now be storing European user data locally.

 

One data centre in Dublin is now up and running with plans for another in Ireland and one in the Hamar region of Norway.

 

The data of TikTok's more than 150 million European users will be moved through one of these three centres.

 

Independent scrutiny

In an update on the project and alongside the announcement of the first data centre coming online, TikTok vice president for public policy in Europe, Theo Bertram, said a third-party security company would also be used to independently audit TikTok's work at the data centre.

 

Project Clover has tasked NCC Group, a global cyber-security company with offices across Europe, to scrutinise TikTok's data controls and report any incidents.

 

Stephen Bailey, global director of privacy at NCC Group, said he was proud TikTok had chosen NCC to be the third-party security provider on the project.

 

"Our objective scrutiny, monitoring and assurance means platform users in Europe and the UK can have confidence in the enhanced data security standards that TikTok is setting, which go above and beyond European regulatory requirements," he said.

 

TikTok said that NCC Group would identify and respond to any "suspicious or anomalous access attempts" and would work on enhancing security.

 

In the coming months, TikTok and NCC Group will engage with policymakers across Europe to explain how this system will work in practice.-bbc

 

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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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.

 


 

 


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