Major International Business Headlines Brief::: 08 September 2023

Fri Sep 8 08:38:55 CAT 2023

 <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::: 08 September 2023 

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

ü  Kenyan Fintech Platform Get Approval for Public Fundraising in the U.S.

ü  Africa: Carbon Pricing Key to Africa's Climate Action, EU and U.S. Say

ü  South Africa: Karpowership Agrees to Donate Game Farm in Power Plant Deal With Govt

ü  South Africa: Breaking - Pick N Pay Founder Raymond Ackerman Has Died

ü  Tanzania: Financing Still Major Barrier for Women, Youth in Livestock

ü  Rwanda: Tanzanian Billionaire to Invest U.S.$100 Million in Rwandan Companies

ü  Liberia: Senate Decries Deplorable Road Conditions

ü  Uganda: Museveni Mounts Charm Offensive for South African Investors to Uganda

ü  Kenya: Caroline Saroni Appointed to Handle Kenya's Exports

ü  Rwanda: Resilience At Work - Coffee Barista Shatters Stereotypes of Disability

ü  Apple shares slide after China government iPhone ban reports

ü  Fourth FTX executive Ryan Salame pleads guilty

ü  Five million vapes thrown away every week - research

ü  UK offshore wind auction set to flop

ü  Thousands lose benefits after tax credits overpaid

 <https://www.cloverleaf.co.zw/> Kenyan Fintech Platform Get Approval for Public Fundraising in the U.S.

Nairobi — Lipa Later Group, a leading fintech platform founded to empower African businesses to do more by enabling e-commerce, financial inclusion, and shopping on a centralized and fully integrated platform, has received exclusive approval to raise funds from the general public in the United States.

This is a significant milestone for Lipalater as it has become one of the first African companies to secure the green light from US Regulator - SEC.

Lipa Later Group is a global trailblazing innovator recognized as one of Africa's Fastest-Growing Fintech Companies by the Financial Times that continues to reshape the finance, payments, and e-commerce landscape in Africa.

Investors worldwide will now have the chance to invest in LipaLater through Republic, a global financial technology company that allows anyone to invest in anything, anywhere.

By leveraging Republic's platform, LipaLater gains access to a worldwide network of backers who are passionate about supporting groundbreaking ventures that have the potential to make a lasting impact.

This partnership enables Lipalater to amplify its mission of becoming Africa's most expansive credit, payments, and shopping platform.

LipaLater's CEO, Eric Muli, expressed enthusiasm about this remarkable milestone, stating, "We are thrilled to offer retail investors in the US and across the world the opportunity to invest in one of Africa's fastest-growing fintech. Our excitement is magnified as we pioneer a trend, embarking on becoming a global business and the financial control center for Africa's 50M retailers. This marks a significant step in our journey, and we are eager to share this transformative experience with all investors."

He pointed out that, "this isn't just an investment opportunity; it's a catalyst for entrepreneurship, a cradle for job creation, and a beacon of economic development across an entire continent, as well as an opportunity to make a remarkable return on your investment. We aim to bank 100,000 SMEs."

With a solid track record of over 350,000 Consumers and over 35,000 Merchants, and an Exclusive partnership with Mastercard for POS financing, LipaLater is poised to Unleash a $500B African Opportunity and captivate the imaginations of investors who recognize the potential for substantial returns on their contributions.

As Lipalater embarks on this exciting journey, the team remains committed to upholding the highest transparency, accountability, and innovation standards.

Through this collaboration with Republic, Lipalater aims to pave the way for new possibilities in the fintech space.

-Capital FM.

Africa: Carbon Pricing Key to Africa's Climate Action, EU and U.S. Say

Nairobi, Kenya — You cannot protect the environment unless you empower people, inform them, and help them understand that these resources are their own, that they must protect them - Wangari Maathai.

Kenyan Nobel Laureate Prof Wangari Maathai's words ring true as African leaders unite to tackle climate change.

According to research published by Science Direct, since the beginning of 2022, extreme weather events in Africa affected about 19 million people and killed at least 4,000 individuals. Cyclones, floods, heatwaves, wildfires, droughts, and famine were among the severe weather occurrences.

At the African Climate Summit, a remarkable unity was displayed as presidents from across the continent enthusiastically united behind a common cause. African leaders displayed a powerful commitment and determination to address the pressing climate challenges that disproportionately affect their nations. Africa, despite contributing fewer emissions to the global climate crisis, bears the brunt of its devastating impacts.

The leaders, including Samia Suluhu (Tanzania), Paul Kagame (Rwanda), Évariste Ndayishimiye (Burundi), Filipe Nyusi (Mozambique), Salva Kiir (South Sudan), Sassou Nguesso (Congo), Mostafa Madbouly (Egypt), Nana Akufo-Addo (Ghana), Mohamed Younis Menfi (Libya), Julius Maada (Sierra Leone), Sahle-Work Zewde (Ethiopia), Brahim Ghali (Sahrawi), Azali Assoumani (Comoros), Ismaïl Omar Guelleh (Djibouti), Isaias Afwerki (Eritrea) and Macky Sall (Senegal), agreed to lead the way in finding sustainable solutions to the climate crisis.

The summit carries as the theme, Driving Green Growth and Climate Finance Solutions for Africa and the World.

Africa Can Be Cradle of Solutions to Climate Crisis

"History tells us that Africa, and Kenya in particular, is the cradle of mankind. I hope and pray that from this cradle, we can find the elusive solution to combating climate change," said Kenyan Environment Minister Soipan Tuya.

"We are gathered here today to make history as the continent of Africa. The world is facing many challenges, but none is more apparent, threatening, and devastating than climate change. We can only respond by making history at this inaugural Africa Climate Summit."

"The effects of climate change are already being felt in Africa. In Malawi, Hurricane Freddy killed 200 people and caused U.S.$2 billion in damage. The Horn of Africa recently experienced one of the worst droughts in decades, leading to the loss of hundreds of lives and thousands of livestock," she said. "And for the first time in Kenya, we had to truck water to our wildlife in the national parks and reserves."

Tuya added that African countries are making every effort to deal with the effects of climate change, but their economies are struggling under the weight of mounting debt. Thirty-one of the 37 Heavily Indebted Poor Countries (HIPCs) in the world are in Africa.

"Over 20 years of climate change negotiations have produced agreements and promises that have delivered little for Africa, Tuya said. "Instead, the image of Africa as a poor continent with a begging bowl continues to dominate climate negotiations. The inconvenient truth that Africa has historically contributed very little to global emissions has not been acknowledged by the rest of the world.

"The inaugural Africa Climate Summit is an opportunity for Africa to change the course of history. Millions of young Africans are looking to African leaders to give them hope for a future with green jobs, a dignified life, and prosperity. The summit should chart a green growth pathway for the continent and set the stage for Africa to lead the globe toward a more ecologically responsible global industrialization," added Tuya.

Kenyan President William Ruto was joined on the panel by Moussa Faki Mahamat, Chairperson of the African Union Commission; Ursula von der Leyen, President of the European Commission; António Guterres, Secretary-General of the United Nations; and Akinwumi Adesina, President of the African Development Bank.

AfDB to commit U.S.$25 billion to climate financing by 2025

The African Development Bank (AfDB) President Akinwumi Adesina announced a commitment of U.S.$25 billion towards climate financing by 2025. He called for a change in the global financial architecture to prioritize the needs of Africa, and for delegates to mobilize resources for climate financing. He believes that Africa has the resources to become a greener continent by embracing the use of its natural gas combined with renewable resources and that it needs help from the international community to make it happen.

"Africa must use its natural gas resources in a sustainable way, combining it with renewable energy sources," said Adesina.

He stressed that Africa must also ensure that its food and agriculture sectors are resilient to climate change. He further called on African countries to voluntarily take climate-friendly actions, "not because someone has told us so, but because we have to."

Carbon Pricing Key to Africa's Climate Action

The European Union (EU) President, Ursula Von Der Leyen, while lauding the Kenya Climate Change Act, 2023, launched during the summit, said that it puts prominence on the carbon markets.

Von der  Leyen added that this Summit is a crucial step to preparing for the upcoming COP28 meeting in Dubai, to make sure that Africa's voice is heard and that Africa's priorities–a continent that is most affected by climate change - are duly taken on board.

"Africa and Europe have the same goal of taking climate action. Africa's priority is to grow its economy and lift people out of poverty, and climate action is part of the solution. Africa has a huge potential for renewable energy and clean hydrogen, critical raw materials, incredible nature and biodiversity, and a young workforce. Africa can help clean up the global energy system and supply chains while creating jobs and economic opportunities for its people," she said. "This is a win-win partnership for Africa, Europe, and the world.

"Expanding Africa's clean energy sector would create jobs, boost economic growth, and improve energy security. Climate action can be one of the main drivers of Africa's growth," she added. "But for this, Africa needs massive investment. And Europe wants to be your partner in closing this investment gap.

"This is why half of our EUR-300-billion investment plan, called Global Gateway, is aimed at the African continent. Global Gateway supports investments ranging from hydropower plants in the DRC, Burundi, Rwanda, and Tanzania, to the EUR-1-billion initiative on Climate Adaptation and resilience in Africa, which we announced at COP27.

"Green bonds are recognised as a key solution to climate change. We are here to share our expertise and help you develop your own green bond initiative," she said. "Together with the European Investment Bank and our Member States, we are allocating EUR 1 billion to de-risk private investments in emerging markets. This could help attract up to EUR 20 billion in sustainable investment. So let us work together on that to build and grow Africa's green bond markets."

Von der Leyen also said that developing carbon markets would help Africa generate new revenue from its carbon sinks.

"I believe that setting a price on carbon emissions is one of the most efficient and effective tools in our hands. Because it fosters innovation in the private sector. Because it makes heavy polluters pay a fair price. And because the revenues can support the clean transition in developing countries."

Von der Leyen concluded by saying that achieving this goal may seem impossible, but quoted Nelson Mandela: "It always seems impossible until it's done." She said we have a responsibility to fight climate change for the good of our children and grandchildren, and urged everyone to work together in this spirit.

Climate Change is a Threat to All of Humanity - President Ruto

Kenyan President William Ruto believes that climate change is the greatest challenge facing humanity and that only urgent and coordinated action on a global scale can stop the impending catastrophe. He highlighted the importance of climate action, saying that it is "the greatest challenge facing humanity". He noted that Africa is already feeling the impacts of climate change, and that the continent is losing between 5-15% of its GDP growth every year to these impacts.

"At the same time, the cost of adaptation continues to rise along with the cost of living, while the cost of development capital for African economies remains prohibitive, as millions of our youth remain unemployed," he said.

Ruto then praised the courage and imagination of African leaders in addressing the climate emergency. He said that Africa is "converging with extraordinary focus and commitment" on the climate agenda and that this is essential for the continent's future prosperity.

He added that Africa is the most affected by the climate crisis, even though it contributes the least to pollution. He gave the example of Kenya, which had to divert funds from development to deal with the effects of climate change. He said that many African countries are headed into debt distress because of the climate crisis.

Ruto said that there is a need to discuss the possibility of introducing a carbon tax in Africa. He said that the revenue from a carbon tax could be used to finance Africa's development, such as investing in renewable energy, climate-resilient infrastructure, and other projects that will help Africa adapt to climate change.

He called for a more equitable international financial system to lessen Africa's debt burden.

U.S. Pledges U.S.$3 Billion Annually to Help Developing Countries Adapt to Climate Change

Speaking during the Africa Climate Summit, U.S. Special Presidential Envoy for Climate John Kerry, said that "20 countries produce 80% of all the emissions, mine is one of them. Twenty countries. And it is critical for all those 20 countries to immediately take steps to get on the path to the Paris agreement [to] keep 1.5 degrees alive".

"My sense is that we have no choice but to act," he said.

"Africa is a land of great promise, but it is also a land of upheaval. The entire continent is being disproportionately affected by the climate crisis. To combat this crisis, early and effective adaptation is required."

"Adaptation saves lives and creates jobs - it's also just common sense," he said.

Kerry said President Joe Biden is aware that climate change is already having a devastating impact on people in developing countries, especially in Africa. To help these countries adapt to the worst effects of climate change, he has launched the PREPARE initiative. As part of PREPARE, President Biden is committed to working with Congress to provide U.S.$3 billion annually for adaptation by 2024. This is the largest commitment to adaptation in U.S. history. He is also working with partners on the Transitional Committee this year to design an effective fund to help vulnerable developing countries respond to loss and damage caused by climate change.

"As part of implementing PREPARE, I'm pleased to announce the U.S. intent to provide an additional U.S.$30 million to accelerate climate-resilient food security efforts across Africa," he said.

"Africa has the greatest opportunity in the world to win the climate change dialogue," said Kerry. "I believe that Africa offers an enormous opportunity at this moment. The problem we face is man-made, and humanity is being threatened by humanity. We need the Loss and Damage Fund in one year, this year, in Dubai. We can win this battle, but only if we make fundamental choices."

World Leaders Must Deliver on Climate Pledges, Says COP28 President

The COP28 President-Designate, H.E. Dr. Sultan Al Jaber, has said that COP28 will no longer accept pledges and promises on climate finance. He called for a plan that would focus on people, lives, and livelihoods, and that would finally fix climate finance.

"I will continue to press on the issues of the U.S.$100 billion pledge by donors, that they fulfil their pledge," Jaber said. "What was promised in Sharm El Sheikh must be delivered in Dubai."

Jaber said that a plan that would focus on people, lives, and livelihoods would be the real panacea for climate change. He also called for enhancing food security and stimulating green growth in Africa.

"Fast-tracking the energy transition, fixing climate finance, focusing on people, lives and livelihoods, and underscoring these efforts with full inclusivity are the key pillars of the COP28 Presidency's Action Agenda," he said. "This continent is rich, and can help not just Africa."

According to the African Development Bank, U.S.$250 billion is required to fulfil Africa's climate needs. However, Africa only receives 12% of that, and only 2% on adaptation. Jaber said that it was only fair for Africa to get a global share of the climate finance.

"We need a surgical intervention of the global financial architecture," he said. "I am pleased to answer the need by African leaders to foster green growth."

"If Africa loses we all lose, if Africa wins we all win," said Jaber.

South Africa: Karpowership Agrees to Donate Game Farm in Power Plant Deal With Govt

Harare — Karpowership agreed to purchase and donate a game farm to a provincial wildlife authority in an effort to speed up permission for one of the three gas-fired power stations it plans to build in South Africa, Bloomberg reports.

In exchange for the game farm, the Turkish company claimed that Ezemvelo KZN Wildlife, which oversees protected areas in the province of KwaZulu-Natal in the south, had agreed to refrain from objecting to its proposal for a 450 megawatt ship-mounted power plant at Richards Bay harbour.

The agreement, which is a component of Karpowership's request for environmental certification of the plant, is the most recent development in a tale that has lasted more than two years and involved the firm fighting legal battles and environmental opposition to its plans.

Since winning about 60% of a state tender in March 2021 for 2,000 megawatts of emergency electricity to address the energy crisis, Karpowership has been working on three projects. However, a disagreement over the positioning of the power ship with the national port operator will cause a delay in the 450 megawatt project at the Port of Ngqura. It was said that the delay in Ngqura might be between 12 and 18 months because the ship needs a new spot in the harbour to moor.

Karpowership still needs to obtain final environmental approval, sign a power-purchase deal with the country's largest power company Eskom Holdings SOC Ltd., and extend its access to the national grid before the end of this month (September 2023). Karpowership, a Turkish power producing firm, was using off-shore ships as floating gas power plants since 2010. The company contracts to provide countries with power extends up to 20 years. With South Africa looking to Kapowership to assist with its load shedding crisis, concerns have been raised at the cost and the length of time of the contracts, as well as its impact on the environment.

With South Africa looking to Kapowership to assist with its electricity crisis, concerns have been raised at the cost and the length of time of the contracts, as well as its impact on the environment.

In August 2023, Karpowership offered to reduce the initial 20-year contract to five years in an apparent effort to get a multibillion rand "emergency" electricity supply arrangement with South Africa, according to a Daily Maverick report.

However, there is a catch: a shorter contract costs more money. The Council for Scientific and Industrial Research (CSIR) estimated that the transaction might cost as much as R228 billion (U.S.$12,1 billion), but the precise amount is still unknown.

The five-year proposal follows the protracted debate about the merits of procuring power from the Turkish company. Karpowership Chief Commercial Officer Zeynep Harezi reportedly said her company is prepared to send five floating powerships to South Africa and to start producing electricity within "90 days" or less.

The Karpowership deal is aimed to helping the economy, notably small businesses, because up to 64% of township small businesses stop operations during the scheduled power cuts - and it has President Cyril Ramaphosa's support. He said the agreement is "the way to go right now to add those megawatts".

South Africa: Breaking - Pick N Pay Founder Raymond Ackerman Has Died

The retail giant's founder has left a profound mark on the local industry

Pick n Pay founder, Raymond Ackerman has died at the age of 92.

The retail entrepreneur founded Pick n Pay in 1967 with his wife Wendy, after buying four stores in Cape Town.

Over the subsequent 56 years, the retail group grew to more than 2,000 stores across South Africa, Namibia, Botswana, Zambia, Nigeria, Eswatini and Lesotho.

Ackerman's father founded Ackermans after World War 1.

Raymond Ackerman launched 26 battles against the government on petrol price cutting but lost.

In 1989, Ackerman and a group of businessmen met then-President FW de Klerk soon after his appointment and called for the release of Nelson Mandela.

In 2004, he established the Raymond Ackerman Academy for Entrepreneurial Development in partnership with UCT and later the University of Johannesburg, which has produced hundreds of new business owners.

In 2010, Raymond and Wendy retired from the board of Pick n Pay Stores Limited and became honorary life presidents.

A Bishops Diocesan College old boy, Ackerman was president and then the patron of the Old Diocesan Union. He received seven honorary doctorates from local and international universities.

Ackerman is survived by his wife, Wendy, children Gareth, Kathy, Suzanne, and Jonathan, his 12 grandchildren and four great-grandchildren....

-Daily Maverick.

Tanzania: Financing Still Major Barrier for Women, Youth in Livestock

DAR ES SALAAM: SUSTAINABLE livestock production that engages women and youth in profitable enterprises is among crucial ingredients for the transformation of food systems in Africa and driver for addressing food and nutrition insecurity, youth unemployment, gender inequality and climate change.

However, lack of access to financing and information continues to impede the growth of the sector and the transformation of livelihoods for women and youth.

These were among key takeaways that transpired during the herding change 'Sustainable Livestock Innovation by Women and Youth' side-event session at the Africa Food Systems Forum 2023 taking place in Dar es Salaam, Tanzania.

The session was co-organised by the International Livestock Research Institute (ILRI) and among other partners showcased successful women-led entrepreneurs in East Africa for inspiration and came out with recommendations for policies needed to support women and youth entrepreneurs in the livestock sector to transform food systems in Africa.

"Lack of access to knowledge on dairy production due to the breakdown in extension systems in many African countries and finances, is a major bottleneck for women livestock entrepreneurs," said Ms Margaret Munene, an entrepreneur.

She identified some of the innovations being taken by Palm House Diaries to address these challenges including providing private veterinary services and working with youth as extension agents to train women.

According to her, such was the way to go and has the additional benefit of creating much-needed jobs for youth.

For her part, the Chief Executive Officer of AKM Glitters Co Ltd, Ms Elizabeth Swai, who grew from rearing 250 chickens in 2004 to becoming the only certified producer of kuroiler breed in Tanzania with a capacity to produce three million chicks in a year, identified the need for incubation to build capacity of young people in livestock production.

She revealed that AKM Glitters has a model that incubates youth groups to learn all about poultry production as well as finances.

Ms Swai called for deliberate efforts to help women access to finance so as to scale up livestock production and women-led livestock enterprises to support livestock, women, and youth play their role in the transformation of food systems.

On the other hand, the Co-founder of DigiCow Africa, Ms Jemimah Wanjiku, said that the DigiCow application facilitates access to crucial information for farmers that is packaged in ways that it is easily understood and in user-friendly formats.

Such was important as the digital divide - the gap between those who have access to digital tools and those who do not - was growing further marginalising poor youth and women.

She added: "Training is key and customising information and knowledge for farmers to access and understand. Unfortunately, in many African countries, there is a breakdown of extension services and the private sector has been forced to fill the gap."

A youth champion and role model engaged in poultry production from Singinda, Tanzania, Ms Pauline Kilindi noted that female farmers are doing extremely well in poultry production and are not taking up roles thought to be only for men.

"It's important to change the mind-set of the society so they can support women engaged in livestock production without following cultural practices that marginalise women," Ms Pauline said.

-Daily News.

Rwanda: Tanzanian Billionaire to Invest U.S.$100 Million in Rwandan Companies

Tanzanian billionaire Mohammed Dewji has expressed interest in investing in Rwanda through his company MeTL Group, which has operations in more than 10 African countries.

On Wednesday, September 6, the Dar es Salaam-based tycoon with $1.5 billion net worth met with Ildephonse Musafiri, the Minister of Agriculture and Animal Resources and Rwanda Development Board (RDB) deputy chief executive Nelly Mukazayire.

Their discussions, held in Dar es Salaam, focused on collaboration and ways of speeding up investments of the group in Rwanda, the ministry said in a post on X.

Today in the afternoon, Hon. Minister @Ilde_Musafiri together with the Deputy CEO of @RDBrwanda met @moodewji, the CEO of @MeTL_Group at his office in Dar es Salaam. Their discussions focused strengthening collaboration and ways of speeding up investments of the group in Rwanda. pic.twitter.com/StEwflejwb-- Ministry of Agriculture & Animal Resources |Rwanda (@RwandaAgri) September 6, 2023

Officials at the ministry told The New Times that MeTL Group expressed interest to invest around $100 million (more than Rwf120 billion) in four Rwandan companies that produce edible oil, soap, wheat and maize milling, carbonated drinks, plastic bottle recycling, agriculture, and fuel storage, among other strategic sectors.

The company has already secured land in Rwanda, the sources said.

"As a businessman, I'm grateful for the support & facility of Rwanda's institutions," Dewji said in a post on X.

Honored to connect with Rwanda's Minister of Agriculture, Honorable Dr. Illdephonse Musafiri and Deputy CEO of @RDBrwanda, Nelly Mukazayire. As a businessman, I'm grateful for the support & facility of Rwanda's institutions #AGRF #VisitTanzania #VisitRwanda @TheAGRF pic.twitter.com/wPv4XEqwgH-- Mohammed Dewji MO (@moodewji) September 6, 2023

MeTL, a family-owned and diversified group of companies headquartered in Tanzania boasting of 38,000 employees, currently produces various products including wheat, maize flour, edible oil and detergents.

The company has operations in 11 African countries, including Uganda, Ethiopia, Kenya, Burundi, Zambia, Mozambique, Malawi and DR Congo.

-Times.

Liberia: Senate Decries Deplorable Road Conditions

The Liberian Senate has spoken out against the deplorable road condition in Liberia mostly in the Southeastern parts of the country and called on the Ministry of Justice to probe complaint filed by the Ministry of Public Works against its contractors.

The Liberian Senate has at the same time, mandated the Ministry of Justice to investigate complaints made by the Minister of Public Works, Ruth Coker-Collins of several contractors of primary road corridors who have failed in the implementation of the contracts despite receiving payments from the Ministry of Finance.

The President Pro-tempore of the Liberian Senate, Albert T. Chie said the Senate has received a briefing from Minister Coker-Collins on the progress on road rehabilitation of the primary corridors leading to the southeastern counties and other places around the country which according to him has become a national emergency.

Pro-Tempore Chie decried the rehabilitation of roads in the southeast saying that the process is very slow and the roads are still very deplorable.

Responding to the lawmakers, Public Works Minister Ruth Coker-Collins said the ministry is committed to doubling up and deploying more manpower and logistics on the corridors. Minister Coker-Collins blamed contractors for the delay in the rehabilitation of roads in the Southeast disclosing that she has complained to the Ministry of Justice for redress but nothing has been done by the Justice Ministry.

In more Legislative news, while speaking at the close of the Special Session of the Liberian Senate on Tuesday, September 5, 2023, Pro-Temp Chie revealed that the Senate has ratified the amended and restated mineral development agreement between the Republic of Liberia and the Bea Mountain Mining Company (BMMC) to continue to develop gold resources in western Liberia adding that the amendment contains improved revenue and benefits to the government and people of the host communities.

At the same time, confirmation of the seven nominated commissioners of the Liberia Anti-Corruption Commission (NEC) was carried out but with a Senate Plenary's mandate not to communicate the results to the Executive until all financial obligations for the unexpired portion of the tenure of the former Commissioners who were not maintained on the new Board of Commissioners are settled by the Ministry of Finance and Development Planning.

Meanwhile, the head of the Liberian Senate said the Board of Commissioners of the National Elections Commission (NEC) informed the Senate that they are ready to conduct a transparent and impartial election in October and that the government has provided adequate funding for the process and deployment of personnel and logistics will be done subsequently.

It can be recalled that in recent times by request of President George Manneh Weah, on August 22, 2023, the Liberian Senate convened a Special Session to consider time-bound matters of national interest in line with Article 32(b) of the 1986 Constitution that could be handled before the 2023 General and Legislative Elections.

-New Republic.

Uganda: Museveni Mounts Charm Offensive for South African Investors to Uganda

President Museveni has made a case for Uganda as a favourable and profitable investment destination with many untapped opportunities, asking South African investors to exploit this economic potential in the East African country.

This, Museveni said, will help build a strong economy for the two countries and Africa at large.

"When South Africa got freedom, I met Mzee Mandela, and I suggested that we work together with South Africa because it had some capacity at that time of more investors, some capital and I wanted to take advantage of them, and they also take advantage of us to build a strong economy for Africa. That is how I proposed to Mzee Mandela that we start a wide body joint airline, but it didn't continue due to some challenges," he said.

Museveni was speaking during the Uganda- South Africa Trade and Investment Summit held at Commonwealth Resort, Munyonyo in Kampala.

Running under the theme; "Accelerating Uganda- South Africa Trade And Investment", the two-day summit attracted over 40 companies from South Africa.

The president said the summit was a crucial ground to link Uganda's business potential with that of South Africa and therefore requested South African companies operating in Uganda to join the government efforts of helping all Ugandans to join the money economy in order to achieve the desired socio- economic transformation.

"You have heard that until recently, 68 percent of the population was out of the money economy. We had to bring in the army to distribute coffee seedlings for these people to join the money economy by growing coffee. Now the figures of the ones outside the money economy are 39 percent and we want everybody to join the money economy. If all these join the money economy, will it not benefit the telecom industry? If all these people join the money economy, won't they have more money in the bank?" he inquired.

Value addition

Museveni also rallied the investors to add value to Uganda's raw materials such that the country can be able to build an independent, integrated and self-sustaining economy.

"If we add value for example on coffee instead of getting USD2.5 per kilogram, we shall get USD40 per kilogram and when the economy of Uganda becomes much bigger, we shall all benefit," he said.

" I am very glad that now in our small battle here, we are working together to solve this problem. That means more Ugandans who are outside the money economy will join the money economy."

He also commended his South African counterpart for working towards strengthening the ties between the two countries.

"I want to thank President Ramaphosa for remembering and sending you here because the items you have captured here are good. Countries like Uganda have got everything. There's nothing that we don't have ranging from Agriculture, minerals, forests etc., so we have a very big potential, it is good that we link up as Africa and work together."

He tasked South African businessmen to also pick interest in Uganda's e-mobility sector by investing in areas of manufacturing lithium batteries.

"We are building our own electric vehicles and we are also trying to come up with lithium car batteries. We shall make the batteries here so get me investors. We shall use our lithium batteries in our vehicles and export others."

At the summit, President Museveni also witnessed the signing of Memoranda of Understanding (MOUs) between Uganda and several companies from South Africa.

The Minister of State for Privatisation and Investment, Evelyn Anite commended President Museveni for creating a conducive environment for Ugandans to live in but also most importantly for businesses to thrive.

"Right from the time you took power in 1986, you stated the agenda for the country very clearly and you did say that it was not just a mere change of guard, but it would be a fundamental change. Mr. President, we have indeed been witnessing fundamental change in different sectors of the economy," she.

"You led a delegation to South Africa recently where you made a call to MTN to have an investment and trade conference in Uganda and Your Excellency, today MTN is walking the talk, it has brought on board 40 companies from South Africa."

She also revealed that during the summit, Uganda has been able to sign deals on value addition that will steer the country's development.

The MTN Group chairman, Mcebisi Hubert Jonas asked the government of Uganda to strive to reduce the cost of doing business, saying that such a move will strengthen the investment environment and ensure an enviable investment climate.

"This summit has been very successful. It has not been looking at deals only but also looking at the investment environment in Uganda and the continent at large."

Kenya: Caroline Saroni Appointed to Handle Kenya's Exports

Nairobi — The Public Service Commission (PSC) has appointed Caroline Saroni as the Head of the Secretariat of the National Trade Negotiations Council (NTNC) under the Ministry of Investments, Trade, and Industry (MITI).

Saroni will now oversee the country's bilateral, regional, and multilateral trade talks.

NTNC, which was unveiled in 2017, was mandated to handle the East African Community-European Union Economic Partnerships Agreement and the Africa Continental Free Trade Area.

"In line with the Government agenda to increase the share of exports to GDP from 10% currently to 25% by 2025 and 30% by 2030, the Cabinet in December 2022 approved the operationalization of the National Trade Negotiations Council to coordinate the trade negotiations mandate in pursuit of our export-led economic agenda," MITI said in a statement.

"Accordingly, the Public Service Commission has appointed Ms Caroline Saroni as the Head of the Secretariat, National Trade Negotiations Council, under the Ministry of Investments, Trade and Industry (MITI)," it added.

With over 17 years of experience, Saroni is an advocate for the High Court of Kenya.

She is also an immediate former chairperson of the Advocates Complaints Commission.

"Caroline has extensive experience in International Trade and Investment Law, has lectured at Kenyatta University School of Law since 2009, and has consulted for many international organisations in trade and investments law," added the ministry.

"She has vast experience in public governance and has served as a board member of the Tobacco Control Board and the Kenya Institute of Public Policy Research and Analysis."

Moreover, she is an alumna of the Nelson Mandela School of Public Governance and the McCabbe Centre for Law and Cancer (Australia).

-Capital FM.

Rwanda: Resilience At Work - Coffee Barista Shatters Stereotypes of Disability

Maimounah Uwase, a 28-eight-year-old barista at a coffee shop in Kigali, shares that her disability has never hindered her from chasing her dreams and supporting her family as the main provider.

Uwase was born with normal hearing and speech abilities, but at the age of three, she was diagnosed with meningitis, which subsequently caused her current impairments in hearing and speaking.

ALSO READ: Kagame responds to people living with disabilities' request to serve in army

Speaking to The New Times, Uwase highlighted the hardships she faced on her journey, particularly the scarcity of schools with sign language proficient educators which posed challenges to her studies. Despite these obstacles, she demonstrated resilience and determination by refusing to give up.

"My determination carried me through high school, where I even pursued a course in hospitality, and despite the odds, I never gave up," she said.

Unfortunately, Uwase was unable to continue to university after completing high school due to her family's limited income. Despite this, she remained optimistic and actively pursued job opportunities, demonstrating resilience where some may have given up.

"I firmly believe that having a disability does not mean being incapable. My other senses function exceptionally well, which is why I have always remained hopeful in my quest for employment. Although there may still be sceptics, many others now recognise our abilities and capabilities," she confidently expressed.

ALSO READ: Healthcare enthusiasts on delivering psychoeducation to people living with disabilities

In 2016, Uwase joined Masaka Farm, a specialised yoghurt manufacturing factory, where she received training to enhance her skills in yoghurt production. Prior to this, she had developed a passion for dancing during her childhood and frequently received performance opportunities due to her talent.

After obtaining her certificate in yoghurt production, she then entered the coffee production industry, where she encountered the difficulty of finding like-minded individuals to connect with. It was during this time that she ultimately discovered her current job, and, she said, it feels like a dream come true.

"It was made smoother by being surrounded by colleagues who shared my condition and a staff that was proficient in sign language."

ALSO READ: Ashimwe on defying societal labels of people living with disabilities

She emphasised the need for continued efforts to improve inclusion in recruitment processes and schools. She also encourages individuals with disabilities to actively pursue job opportunities, highlighting their potential to excel in diverse roles.

Stafford Rubagumya, Managing Director of Stafford Coffee Brewers, where Uwase works, initially considered working with individuals with disabilities in 2017. However, it wasn't until he met hardworking individuals at a coffee factory that the idea took root. In 2021, he transformed his idea into reality and hired five of them to join his team across two different branches of the business.

"I worked with them because I have personally observed that having a disability does not make them incapable. They possess the ability to pay meticulous attention to details, are quick learners, hard workers, and possess various other commendable qualities," he stated.

Rubagumya emphasised that working with Uwase and other colleagues with disabilities has greatly enhanced the business's productivity, resulting in a 15 per cent increase in profits within a year. Additionally, he emphasised the positive impact on client diversity. He expressed enthusiasm for expanding the team to include individuals with different types of disabilities.

-New Times.

Apple shares slide after China government iPhone ban reports

Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones.

The firm's stock market valuation has fallen by more than 6%, or almost $200bn (£160bn), in the last two days.

China is the technology giant's third-largest market, accounting for 18% of its total revenue last year.

It is also where most of Apple's products are manufactured by its biggest supplier Foxconn.

The Wall Street Journal reported on Wednesday that Beijing had ordered central government agency officials to not bring iPhones into the office or use them for work.

The following day, Bloomberg News reported that the ban may also be imposed on workers at state-owned companies and government-backed agencies.

The reports came ahead of the launch of the iPhone 15, which is expected to take place on 12 September.

There has been no official statement from the Chinese government in response to the reports.

Apple has the world's highest stock market valuation, standing at close to $2.8 trillion.

The company did not immediately respond to a BBC request for comment.

Shares in some of Apple's suppliers have also fallen.

Qualcomm, the world's biggest supplier of smartphone chips, dropped by more than 7% on Thursday.

Shares in South Korea's SK Hynix were around 4% lower on Friday.

The reports came as tensions between Washington and Beijing remain high.

This year, Washington, along with its allies Japan and the Netherlands, restricted China's access to some chip technology.

China retaliated by restricting exports of two materials key to the semiconductor industry.

Beijing is also reportedly preparing a new $40bn investment fund to boost its chip making industry.

Last week, during US Commerce Secretary Gina Raimondo's visit to Beijing, Chinese tech giant Huawei unexpectedly unveiled its Mate 60 Pro smartphone.

On Friday, the company launched presales of the Pro+ model of the phone.

Canada-based technology research firm, TechInsights, said the phone contained a new 5G Kirin 9000s processor, developed for Huawei by China's largest contract chipmaker SMIC.

TechInsights analyst Dan Hutcheson said it "demonstrates the technical progress China's semiconductor industry has been able to make".

This is a "big tech breakthrough for China," investment firm Jefferies said in a research note.

This week, US congressman Mike Gallagher, who is the chairman of the House of Representatives committee on China, called on the Commerce Department to further restrict exports to Huawei and SMIC.-bbc

Fourth FTX executive Ryan Salame pleads guilty

A fourth former FTX executive has pleaded guilty in the US in a case stemming from the dramatic collapse and bankruptcy of the once popular cryptocurrency exchange.

Ryan Salame, one of the firm's top executives, admitted he had violated campaign finance laws and operated an illegal money-transmitting business.

He agreed to surrender more than $1.5bn (£1.2bn) to authorities.

The pleading comes ahead of the October trial of FTX founder Sam Bankman-Fried.

Mr Bankman-Fried, the so-called former 'King of Crypto, was arrested last year on fraud charges, after FTX filed for bankruptcy, leaving many users unable to withdraw their funds.

Prosecutors have said the fall stemmed from a massive scheme run by Mr Bankman-Fried. He is accused of misusing money from investors and customers from FTX to pay for property, political donations and plug losses at his hedge fund, Alameda Research.

He has denied the allegations and was recently returned to jail to await trial.

Mr Salame started working at Alameda in 2019 and became co-chief of FTX's Bahamas unit and a major political donor.

He is the fourth top executive from Mr Bankman-Fried's companies to plead guilty to charges, after former Alameda chief executive officer Caroline Ellison, former FTX technology chief Gary Wang and former FTX engineering chief Nishad Singh.

Mr Salame on Thursday admitted to using money from Alameda and using false names to illegally make millions of dollars of donations, exceeding legal limits.

Prosecutors also said he was involved in using Alameda accounts to process FTX customer funds, misrepresenting the activity to the bank involved, which had asked for more due diligence and proper registration when asked to work directly with FTX.

"Ryan Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money transmitting business, which helped FTX grow faster and larger by operating outside of the law," said prosecutor Damian Williams, US attorney for the southern district of New York.

Though Mr Salame has agreed to surrender $1.5bn, authorities said they would accept $6m, two properties in Massachusetts and a 2021 Porsche as part of the plea deal, according to Reuters.-bbc

Five million vapes thrown away every week - research

Five million disposable vapes are thrown away each week in the UK, a fourfold increase over the past year, according to research from recycling campaign group Material Focus.

Only 17% of vapers recycle their vapes in the correct recycling bins, the research found.

Vapes can cause fires in bin lorries and waste treatment facilities if not disposed of correctly.

The vaping industry says it is working to improve recycling rates.

Disposable vapes, cheap plastic devices designed to give a few hundred puffs of nicotine vapour before being thrown away, are often discarded in bins and on roadsides.

Material Focus, a non-profit organisation which campaigns to increase recycling rates, calculated that UK adults buy around 30 million vapes a month, a huge increase that reflects the rapid growth in popularity of these products.

Disposable vapes contain copper wires and lithium batteries, which are both valuable materials. Material Focus estimates that all the disposable vapes thrown away in a year contain enough lithium to provide batteries for 5000 electric cars.

They should be disposed of in decided bins, in shops or recycling centres, containing a mineral called vermiculite to reduce the risk of fires. From there, they can be taken to dedicated recycling facilities where they can be dismantled by hand.

By law, everywhere that sells vapes is meant to take them back, but it's a facility that costs money to provide, and many do not.

The potential yearly cost of recycling all those vapes would be £200m, a cost which is not being met by producers, importers or retailers, they say.

"There's far more vapes thrown on the floor, and in public bins and kitchen bins than are being recycled," says Scott Butler, Executive Director of Material Focus. Current recycling facilities are "a long way from what we need. It needs to be as easy to recycle as it is to buy them."

Vapes that get mixed up with other household waste can cause fires in bin lorries and waste facilities. The waste company Veolia, which collects around a tenth of the UK's waste, says lithium batteries, including vapes, cause around one fire a day in its facilities.

It is illegal for under-18s to buy vapes - and the research found that young vapers are much more likely than adults to throw their vapes away or even flush them down toilets, to prevent parents finding out that they are vaping.

A spokesperson for Elfbar, the UK's most popular disposable vape brand, said it is "fully committed to increasing rates of recycling" and working to put thousands of recycling points in place in retail outlets, and increasing the recyclability of its products.

John Dunne, Director General of the UK Vaping Industry Association, said that the growth of the industry had been so rapid that it had been hard to keep up with, but many independent vape shops now had recycling facilities in place.

A UK government spokesperson said: "The government is very concerned about the environmental impacts of disposable vapes and will shortly publish a response to its call for evidence on vaping which closed in June."

The Scottish Government is considering a ban on disposable vapes. In July, councils in England and Wales called for a ban, partly because of the problems they can cause in waste disposal.

Material Focus's research was based on a survey by the pollsters Yougov of 5,156 people, of whom 167 were 16 or 17 years old.-bbc

UK offshore wind auction set to flop

An upcoming auction for seven UK offshore wind projects is set to flop, according to industry sources.

The results are due to be announced on Friday, but the number of bids will be close to zero, or none at all, the sources said.

Offshore wind developers have been saying the price set by the government for the electricity they will generate is too low to make projects viable.

The government said it was committed to increasing the use of renewable energy.

Energy firm SSE and Swedish firm Vattenfall have already ruled themselves out of the bidding, saying that the government had failed to allow for sharp rises in the cost of steel and labour when setting the electricity price.

Industry sources have told the BBC that if big, experienced and well-financed firms cannot make the sums work, it is unlikely that others will be able to.

Under its wind power auctions, the government sets an electricity price which bidders compete to come in at or below.

This arrangement is called a Contract for Difference (CFD). If electricity prices in the future rise above that level, the companies pay the excess back to the Treasury, if they fall below it the Treasury pays the company the difference.

The £44 per megawatt hour price floor set for this auction fails to take account of development costs, according to industry insiders. They have been warning for some time that steel prices and wage rises had pushed their costs up by between 20% and 40% since the last auction was held at a similar price target.

Electricity generators were also hit with a windfall tax on profits from older projects that pre-dated the Contract for Difference regime. SSE warned at the time that the tax would cause it to review future investment plans.

Rishi Sunak eases onshore wind farm rules as Tory MPs threaten revolt

Renewable energy: The upcycled wind turbines getting a second life

In July, Vattenfall paused work on a project off the coast of Norfolk due to "challenging market conditions". It added that "financial frameworks have not adapted to reflect the current market conditions".

Offshore wind has been seen as a big success for the UK and the flagship technology in its drive to decarbonise the energy network. It generated roughly 40% of the country's electricity last year.

Dan McGrail, the chief executive of industry group RenewableUK, told the BBC: "Industry has highlighted to government on several occasions that this auction has been set up in a way which is very unlikely to secure the capacity we need to stay on track to meet the government's own target of 50 gigawatts of offshore wind by 2050 [up from 13.66GW now].

"A failure to secure any new offshore wind [projects] in this auction would be a significant setback to the UK's energy security and net zero ambitions."

Labour's shadow energy secretary Ed Miliband told the BBC: "This is just the latest episode in the Tories' 13 years of failed energy policy. They broke the onshore wind market by banning it, they undermined the solar industry by removing the feed-in tariff, and they caused chaos in the home insulation market with their failed schemes.

"Every family and business is paying the price for these failures in higher energy bills, and our country remains exposed."

Some have suggested the government's recent move to loosen restrictions on onshore wind was driven in part by the realisation that tomorrow's offshore wind auction would be a failure.

There are also voices suggesting that it is "convenient" that the recent cabinet reshuffle saw a new energy secretary appointed, with Claire Coutinho replacing Grant Shapps, who was moved to defence.

A Department for Energy Security and Net Zero spokesperson said: "Renewables provided 40% of our electricity last year, compared to 7% in 2010, with offshore wind and the Contracts for Difference scheme playing a big part in that growth.

"The scheme has helped the UK become home to the world's four largest offshore wind farms and we have attracted £120bn investment in renewables since 2010, with a further £100bn in private sector investment expected by 2030 - supporting up to 480,000 jobs.

"We remain committed to further increasing our use of renewables, including offshore wind, to meet our net zero targets and decarbonise our electricity sector by 2035."-bbc

Thousands lose benefits after tax credits overpaid

Campaigners fear thousands more people face benefit deductions because of tax credit debts they didn't know about.

In excess of 800,000 households on universal credit received less money last year because they were previously awarded too much in tax credits, the BBC has found. More people will go on to the scheme from September.

To repay the debt, monthly benefits can be reduced by up to 25% by the Department for Work and Pensions (DWP).

The DWP says safeguards are in place.

In a statement it added: "We're committed to supporting those who are struggling with repayments."

Debt advice charities say universal credit deductions are leaving households in a spiral of debt, with families' reduced incomes meaning some are unable to afford rent or going without meals.

Data obtained by the BBC through a Freedom of Information request shows that the DWP has to claw back more than £1.5bn in overpaid tax credits - a form of benefits which will be replaced by universal credit by the end of 2024.

Tax credits are initially calculated according to claimants' circumstances at the start of each financial year. For those with fluctuating incomes and family circumstances, this can lead to over- or underpayments.

HMRC data shows each year about a third of all households in Britain claiming tax credits will be overpaid, and 13% underpaid.

At least 80,000 households across Great Britain owe £5,000 or more, which will take years to pay off.

In some cases, these debts have been forgotten about for years, coming to light only when households are placed on universal credit.

With all remaining tax credits recipients set to be transferred on to the system from September, campaigners fear many more households will be alerted to years-old debts.

It comes as families are also having benefits taken away to pay utility bills.

The charity Citizens Advice told the BBC an "illogical situation" had occurred in which households facing deductions were being referred to local authority hardship schemes - funded by the DWP - for support.

Nancy Crow from Somerset currently owes more than £5,000 to the DWP, having been told she was overpaid in working and child tax credits for several years between 2005 and 2016.

She is entitled to about £400 a month in benefits under universal credit, but has seen this deducted by about £50 a month.

The 61-year-old former nurse has now fallen behind on rent and says she has been left with little to survive on.

She has used food banks, gone without heating and electricity, and has even resorted to taking out payday loans.

As someone living with a kidney disorder, Ms Crow says it has also left her unable to afford the foods doctors say she needs to maintain her health.

"I think part of my health problems is to do with my hardship," she says.

She was hospitalised last year, but hopes to work again once she is feeling well enough.

HM Revenue and Customs (HMRC), which managed Ms Crow's tax credits, has previously admitted an error in calculating how much she owes.

Ms Crow also points to documents from different tax years appearing to contain inconsistencies in the amount of debt remaining.

She says that when she moved abroad, she informed HMRC of changes in her circumstances and accepts she has been overpaid in tax credits.

"I'm frustrated, upset, angry. It makes me very depressed," she says.

HMRC says Ms Crow did not tell them about her move overseas within their allotted timeframe.

It added all customers "must report changes of circumstances to us as soon as possible, as this may impact their entitlement".

Debt advisers say this can be hard for people on zero-hours contracts, those with disabilities or mental health issues, and others who do not speak English as a first language.

In other instances, awards may be wrongly calculated by the system.

For those who are overpaid, this leaves them in debt to the government. Up to 25% of a claimant's monthly benefits can be taken from them to repay the money if they are in work, and 15% for those not in work.

Campaigners are calling for this figure to be capped at 5%, so deductions are more manageable for claimants.

The government said it had already reduced the maximum percentage it could deduct from a household's universal credit each month, down from 40%.

Grace Brownfield from the Money Advice Trust charity told the BBC losing benefits income made a "massive difference" to those affected.

"Because deductions from benefits are taken without any assessment of what's affordable for the individual, we're seeing parents who are skipping meals to feed their children, people that have health conditions who haven't been able to afford to put on the heating," she says.

When claimants are informed of a deduction, they can dispute it or ask for it to be paused because of their financial situation.

But that is not always easy.

"You basically are fobbed off and told to talk to a different office," Ms Crow says.

The BBC has spoken to several debt advisers and support services that reported concerns over the process of challenging debts.

Many claimants, they said, were given little information on how their debt had been incurred, which made it harder to challenge. And unlike in the private sector, the government doesn't face a six-year limit on reclaiming forgotten debts. 

Sylvia Simpson, from the debt advice service Money Buddies in Leeds, told the BBC they had come across cases where deductions had been wrongly taken because of system error.

"The problem is that when there's been an administrative error, and it's not being challenged [within the set timeframe], you end up being liable for it," she says.

"So it's really important that you get advice and find out whether that overpayment is actually correct, because it might not be."

A government spokesperson told the BBC that "universal credit deductions… help recover taxpayers' money when overpayments are made".-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%2FBullsBearsZimbabwe&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/20230908/2e5ac891/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/20230908/2e5ac891/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/20230908/2e5ac891/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/20230908/2e5ac891/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/20230908/2e5ac891/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/20230908/2e5ac891/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/20230908/2e5ac891/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65559 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20230908/2e5ac891/attachment-0001.obj>