Major International Business Headlines Brief::: 13 September 2023

Wed Sep 13 11:09:43 CAT 2023

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Major International Business Headlines Brief::: 13 September 2023 

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

ü  Nigeria: Two Years After, Govt Begins Freight Services On Lagos-Ibadan Train

ü  Congo-Kinshasa: DR Congo - Huge Expansion in Cobalt and Copper Mining Is 'Wrecking Lives' - New Report

ü  Mali: Commercial Flights Suspended to Timbuktu Over Insecurity

ü  Africa: Sierra Leone Karpowership Cuts Should Be a Warning to South Africa

ü  South Africa's Visa Regime Keeps Badly Needed Skilled Workers Out

ü  Rwanda: Inside Rwanda's Rwf90 Billion Nuclear Energy Deal

ü  Kenya: Govt Moves to Expedite Issuance of Certificates of Good Conduct

ü  Lesotho: Netcare 'Siphoned' M5 Billion From Tšepong

ü  Ghana: Govt's Increment of Cocoa Prices a Grand Deception - Minority

ü  Ethiopia: Some of Major Successes in Ending Ethiopian Year

ü  China insurance boss jailed for life in corruption crackdown

ü  Apple forced to ditch lightning charger in new iPhone

ü  Qantas illegally fired 1,700 workers during pandemic - top court

ü  BP boss resigns over past relationships with colleagues

ü  Cryptoqueen: Accomplice jailed for 20 years for OneCoin financial scam

 <https://www.cloverleaf.co.zw/> Nigeria: Two Years After, Govt Begins Freight Services On Lagos-Ibadan Train

Two years after the 157-km long Lagos-Ibadan Standard Gauge Train, the much-anticipated freight movement on the line kicked off yesterday with three cargo trains operated to Moniya, Ibadan.

It coincided with the first official tour of the Lagos-Ibadan Railway by the Minister of Transportation, Senator Saidu Alkali.

Alkali flagged off the freight train loaded with 30 wagons (containers) to Ibadan from the Apapa Port Complex.

With the flag-off, the Nigerian Railway Corporation (NRC) said three trains of 30 wagons would be lifted daily out of the ports thereby decongesting the port environment.

The 157-km long railway line with an extension to the Apapa Ports in Lagos has been largely under-utilised due to some impediments, which have stalled the complete linkage of the track to the Apapa Port quay.

A radioactive scanner belonging to the Nigerian Customs Service (NCS) was billed to be removed to pave the way for the completion of the track but this has dragged on for over two years.

The NRC had to divert the track temporarily pending when the building would be removed.

However, the jinx was broken yesterday when the minister flagged off the container movement facilitated by Buen Logistics at the APMT in Apapa.

The train loaded with 30 Wagons took off to Moniya in Ibadan, which is the terminal point of the Lagos-Ibadan Train; the Lot Two of the Lagos-Kano Standard Gauge.

The minister said the freight train would operate on a single track temporarily pending when the customs scanner would be removed, disclosing that the ministry is interfacing with the Customs to remove the scanner.

He said, "We have three trips for now, which amount to 90 containers, by the time we complete the three tracks, we will be having to decongest Apapa Port of 270 containers being moved per day, which is huge."

Speaking further, the minister vowed that the existing railway contracts would not stall in order to ease transportation of goods and passengers, especially after the removal of fuel subsidy.

"We are going to ensure that the existing contracts are being executed and as I told you earlier, the vision of this administration is to ensure that the transport sector is enhanced, especially with the removal of the fuel subsidy so as to make the cost of transportation much easier for Nigerians."

The NRC Managing Director, Engr. Fidet Okhiria said there would be three trains per day translating into 90 containers being lifted out of Apapa on a daily basis.

He said, "The visit of the minister has blessed us. We are loading a 30-wagon train to Ibadan. We have been on this for the past three weeks. 30 wagons have been loaded on the train from APM Terminal to either Papalanto or Moniya, Ibadan.

"We have facilities to move four but we are starting with three for now. We are using a temporary track but we are making a headway to ensure that the building gives way to make sure to have three lines that are expected at this terminal. In order not to wait eternally, we have done something to ensure something was done so that the tracks do not lay idle and we don't give room for vandalisation."

Executive Director, Buen Logistics, Mazi Jetson Nwankwo said, "What we want to achieve under your regime is to decongest Apapa Ports and all the flyovers that have container trucks littering all over. By the time we move three trains a day, Lagos would be free for a good ride. We are happy this is happening under your tenure."

-Daily Trust.

Congo-Kinshasa: DR Congo - Huge Expansion in Cobalt and Copper Mining Is 'Wrecking Lives' - New Report

The expansion of industrial-scale cobalt and copper mines in the Democratic Republic of the Congo has led to the forced eviction of entire communities and grievous human rights abuses, including sexual assault, arson and beatings.

In a new 100-page report, Powering Change or Business as Usual?, Amnesty International and the Democratic Republic of the Congo-based organisation Initiative pour la Bonne Gouvernance et les Droits Humains (IBGDH), detail how the scramble by multinational companies to expand mining operations has resulted in communities being forced from their homes and farmland.

Growing demand for so-called clean energy technologies has created a corresponding demand for certain metals, including copper and cobalt which are essential for making most lithium-ion batteries used to power a wide range of devices, including electric cars and mobile phones. The DRC has the world's largest reserves of cobalt, and the seventh-largest reserves of copper. Demand for cobalt has tripled since 2010 and is expected to reach 222,000 tonnes by 2025.

Amnesty and IBGDH interviewed more than 130 people at six different mining projects in and around the city of Kolwezi in the southern province of Lualaba during two separate visits in 2022. Researchers reviewed documents, correspondence, photographs, videos, satellite images and company responses.

Agnès Callamard, Amnesty International's Secretary General, said:

"The forced evictions taking place as companies seek to expand industrial-scale copper and cobalt mining projects are wrecking lives and must stop now."Amnesty International recognises the vital function of rechargeable batteries in the energy transition from fossil fuels, but climate justice demands a just transition. Decarbonising the global economy must not lead to further human rights violations."The people of the Democratic Republic of the Congo experienced significant exploitation and abuse during the colonial and post-colonial era, and their rights are still being sacrificed as the wealth around them is stripped away."The DRC can play a pivotal role in the world's transition from fossil fuels, but the rights of communities must not be trampled in the rush to mine minerals critical to decarbonising the global economy."

Donat Kambola, president of Initiative pour la Bonne Gouvernance et les Droits Humains, said:

"People are being forcibly evicted, or threatened or intimidated into leaving their homes, or misled into consenting to derisory settlements. Often there was no grievance mechanism, accountability, or access to justice. "The international mining companies involved have deep pockets and can readily afford to make the changes necessary to safeguard human rights, establish processes that improve the lives of people in the region, and provide remedy for the abuses suffered."

Homes demolished

Since the reopening of a vast open-pit copper and cobalt mine in 2015, long-established communities have been destroyed in the heart of the city of Kolwezi. The project is operated by Compagnie Minière de Musonoie Global SAS (COMMUS), a joint venture between Chinese company Zijin Mining Group Ltd and the DRC's state mining company Générale des Carrières et des Mines SA (Gécamines).

The affected neighbourhood of Cité Gécamines, home to about 39,000 people, has multi-roomed houses set in walled compounds with running water and electricity, with schools and hospitals nearby. Since mining activities resumed, hundreds of residents have been told to leave, or have already been forced to. Communities were not adequately consulted and plans to expand the mine have not been made public. Some residents found out their houses were going to be demolished only after red crosses appeared on their properties.

Edmond Musans, 62, who had to dismantle his home and leave, said:

"We did not ask to be moved, the company and the Government came and told us: 'There are minerals here'."

People who were evicted said the compensation offered by COMMUS was not enough for them to be able to buy an equivalent standard of home. As a result, many have suffered a significant fall in their standard of living, including having to move to properties without running water or reliable power on the outskirts of the city. They have no effective means of appeal or redress.

One former resident said:

"I had a large house, with electricity, water ... Now, I have a small house that was all I could afford with the compensation ... we have to drink water from wells ... almost no electricity."

Cécile Isaka, another former resident, said blasting to enlarge the mine caused cracks so large she feared her home would collapse. With no other viable option, she accepted the compensation offer and dismantled her damaged property in 2022 so she could reuse the bricks to rebuild elsewhere.

Edmond Musans helped form a committee to represent the interests of more than 200 households at risk of eviction, seeking higher compensation from COMMUS. The committee has shared its grievances with the provincial authorities, but no progress has been made. COMMUS told Amnesty that it aimed to improve communication with the people affected.

Houses burned, people beaten and wounded

Near the site of the Mutoshi project, run by Chemicals of Africa SA (Chemaf), a subsidiary of Chemaf Resources Ltd, which is headquartered in Dubai, interviewees described how soldiers burned down a settlement called Mukumbi. Ernest Miji, the local chief, said that in 2015 after Chemaf acquired the concession, three representatives of the company, accompanied by two police officers, came to tell him it was time for Mukumbi's residents to move away. He said they visited four more times.

Former resident Kanini Maska, 57, recalling one of the visits, said:

"Chemaf's representative told us: 'You need to leave the village now'. We asked him: 'Where would we go? It is ... where we're raising our children, where we're farming land and where our kids are registered to go to school'. We weren't able to retrieve anything ... We had nothing to survive on, and spent nights in the forest."

Interviewees said soldiers of the Republican Guard, an elite military force, arrived one morning and began burning houses and beat villagers who tried to stop them. One girl, who was two at the time, was severely burned, resulting in life-altering scarring. Her uncle said the mattress she was lying on had caught fire.

Satellite images support accounts that Mukumbi - which previously comprised about 400 structures, including a school, a health facility and a church - was destroyed by 7 November 2016. Following protests, in 2019 Chemaf agreed to pay US$1.5 million (£1.2 million) via the local authority, but some former residents received as little as US$300 (£239). Chemaf denies any wrongdoing, liability or involvement in the destruction of Mukumbi, or directing military forces to destroy it.

Brutally raped while trying to protect fields

Near Kolwezi, a subsidiary of Eurasian Resources Group runs the Metalkol Roan Tailings Reclamation project. Eurasian Resources Group is headquartered in Luxembourg and the Government of Kazakhstan is the largest shareholder. Twenty-one farmers - part of a collective growing crops on the fringes of the concession near the village of Tshamundenda - said that in February 2020, without any meaningful consultation or notice of eviction, a detachment of soldiers, some with dogs, occupied the area and bulldozed their fields.

Kabibi (name changed to protect her identity) described how she was trying to harvest crops before they were destroyed when she was seized by three soldiers who gang-raped her while other soldiers watched. She was two months pregnant at the time and needed medical treatment. She told her family and village chief about the attack, but was too afraid to report it to Metalkol or the local authorities.

Response from companies

The report urges the DRC authorities to immediately end forced evictions, instigate an impartial commission of inquiry, and strengthen and enforce national laws related to mining and evictions in line with international human rights standards. The companies involved have a responsibility to investigate the abuses identified, provide effective redress and act to prevent further harm. All companies must ensure their operations do not harm frontline communities. Responses from the companies named in the report can be accessed here.

-AI London.

Mali: Commercial Flights Suspended to Timbuktu Over Insecurity

Harare — Sky Mali, the sole commercial airline serving Timbuktu in the interior of Mali, has announced that it canceled travel there due to safety concerns, further isolating the northern city, which has been under a militant blockade for more than a month, Reuters reports.

Since a local al-Qaeda member shut off access by road and river in the middle of August, Timbuktu, a UNESCO World Heritage site and ancient trading hub on the edge of the Sahara desert, has experienced a lack of food and aid supplies.

Later, Sky Mali released a statement citing a security alert and said that all flights to and from Timbuktu had been suspended until further notice.

Since the city was freed from militants in 2013 following an uprising by French soldiers, it has been surrounded by bloodshed. Later, the militants reorganized and began to move from northern Mali to the neighbouring countries of Burkina Faso and Niger.

The blockage, according to the European Union's announcement last week, has already reached several towns in the Timbuktu region, including Rharous, Niafounké, Goundam, Diré, Tonka, Ber, and Léré.

Mali's military officials ordered French forces to leave, requested that United Nations peacekeepers leave, and linked up with Russian private military contractors Wagner Group, which has led to an increase in insecurity over the past year.

On Friday, an al Qaeda-affiliated group claimed responsibility for a suicide attack on a military base in northeastern Mali. The previous day, authorities had accused the group of carrying out a simultaneous attack on a second military camp and a boat that resulted in the deaths of over 60 people.

Africa: Sierra Leone Karpowership Cuts Should Be a Warning to South Africa

The Green Connection, an eco-justice organization opposing Karpowership's bid to secure 20-year contracts in South Africa, said the power cut in Sierra Leone should be a "warning" to South Africa.

The Turkish power company cut off electricity supply to Freetown, the capital of Sierra Leone, due to unpaid bills, reports Reuters.

Freetown is experiencing power outages after Karpowership cut off the electricity supply due to an unpaid debt of $40 million. Energy Minister Kanja Sesay said the unpaid debt "accrued over time because the government subsidizes more than half the cost per kilowatt hour that the ship charges". He said the government has to spend more on the subsidy because it charges consumers in the local currency, which is one of the worst-performing currencies against the dollar.

According to the Karpowership website, the power company deployed 65 megawatts of power generation capacity to Sierra Leone from 2020. This has supplied 80% of the country's total electricity needs. However, Sesay said the company recently cut off the electricity supply due to an unpaid debt. This reduced the electricity supply to the capital by 13%. As a result, homes and businesses in the capital are without electricity for hours daily.

The company also made similar deals with several African countries that have difficulty meeting their electricity needs.

South Africa granted Karpowership access to the ports of Ngqura, Durban, and Saldanha Bay for 20 years to help ease the country's power crisis. Karpowership plans to generate power on its floating gas ships and distribute it through the national electricity grid. The plan received a boost from President Cyril Ramaphosa who said the ships would help to address the long-standing power shortage.

Then concerns were raised about the impact on the environment and ocean life.

"Since it was first announced that Karpowerships was a preferred bidder to supply emergency electricity to South Africa, we have pointed out several problems with the process to progress these deals. Just in terms of the financial implications, we believe that Karpowership will be too expensive for a country like ours, whose economy has been severely weakened by poor governance, corruption, and mismanagement.

"And what is happening in Sierra Leone is just another example illustrating why this is another bad energy idea from our government. We do not want expensive Karpowerships here. In addition to the load shedding crisis and the rising cost of everything, South Africa cannot afford to go down the same path," Neville van Rooy, Green Connection's Community Outreach Coordinator said.

The Green Connection and other NGOs are challenging the decision of Minister of the Forestry, Fisheries and Environment (DFFE), Barbara Creecy, to allow Karpowership to submit a Generic Environmental Management Programme (GEMPr) for Saldanha Bay. The organisations are challenging Karpowership's plans to operate power ships in South Africa on environmental and legal grounds.

South Africa's Visa Regime Keeps Badly Needed Skilled Workers Out

The government is blocking the potential that foreign workers can bring to SA's stagnant economy.

South Africa's work visa regime is laborious, lengthy and inefficient. The process deters foreign investment, widens the skills gap and throttles productivity, economic growth and development.

Between 2015 and 2021, only 16 097 critical skilled-worker permits were approved by the Department of Home Affairs. At an average of just over 2 200 a year, that amounts to a rejection rate of 52%, for an economy with a sizeable skills deficit. The business visa rejection rate over the same period is even higher, at 68%.

Some German companies have decided to sell their South African subsidiaries since they cannot get executive work permits. And despite the absence of skilled workers, technicians can't get work visas, contributing to the construction and maintenance problems at the country's electricity and transport parastatals, ESKOM and TRANSNET.

The home affairs and labour departments - the two key players in this bureaucratic obfuscation - seem impervious to how much they undermine the Presidency's and other government efforts to attract foreign direct investment and grow the economy. Since the cabinet's 2020 decision to streamline the work visa process, there has been little indication of any movement.

Getting a South African work permit is laden with bureaucratic hurdles. Permits appear only to be granted through the critical skills process, which is based on the Department of Labour's International/Cross-Border Labour Migration checklist.

Since the cabinet's 2020 decision to streamline the work visa process, there has been little movement

Home affairs' critical skills list of 140 occupations is incomplete - just as any effort to document every skills deficit would be - given the pace of growing economic complexity in a world of artificial intelligence and renewable energy. Regional organisations such as the Institute for Security Studies (ISS) and most academic institutions value a diverse staffing composition, which isn't allowed under the current system.

One of the 22 critical skills visa requirements is that the employer must prove that no citizen or permanent resident with the required qualifications, skills and experience is domestically available. The high cost of advertising and other requirements makes this an expensive exercise.

For instance, a police clearance certificate has to be obtained in an applicant's country of origin. Applying in South Africa is possible but costly. For a critical skills visa, a person's qualification must be verified by the South African Qualifications Authority, which can take over six months. Applicants must first register with a professional body in South Africa, which, outside of fields like law, engineering and medicine, is difficult if not impossible.

Securing an application appointment (usually through VFS Global) can take up to three months. A prospective ISS employee recently arrived at the appointed time but was turned away because home affairs' backlog was too great. Although critical skills applications are expected to take eight weeks, ISS sometimes waits a year or more.

Even after a long waiting period, there is no guarantee of success. Reasons for rejections are spurious, often based on 'missing documents' that were in fact supplied. Home affairs rejects many visas based on a 'negative recommendation from the Department of Labour.' Applicants then have 10 days to appeal, but the only real recourse is an expensive legal challenge.

Instead of taking eight weeks, critical skills applications can take up to a year or more

One prospective ISS employee could not travel for more than a year while his passport was being held as part of his skilled work permit application. Those applying through VFS could, in theory, get their passports back by providing a written motivation.

Also, the certification of documents by a Commissioner of Oaths is valid for only three months. Those whose applications are not processed within this period are sometimes denied visas for expired documents or called to recertify and resubmit - if they are lucky.

Even short-term visitor and business visas are a problem. African and international organisations we work with now refrain from hosting events or meetings in South Africa, meaning the country loses revenue from the lucrative event and conference business.

Another major problem is that spouses of critical skills visa holders are not allowed to work in South Africa, requiring them to put their careers on hold. The only alternative for a spouse is to apply for permanent residence, which can take at least five years.

A 2018 study by the Organization for Economic Cooperation and Development and the International Labour Organization found that immigrant workers may increase South Africa's gross domestic product per capita by 5%. Similarly, a 2018 World Bank report found that immigrants in South Africa positively impacted employment and wages for locals, generating approximately two jobs for every migrant.

The ministers for home affairs and labour have adopted a punitive approach to skilled and unskilled foreigners

South Africa must urgently reduce the time frames and simplify the procedures for obtaining work visas. Online applications should be the norm, but the country's IT system upgrade has been several years in the works. Immigration regulations should also allow foreign spouses with dependent (spouse) visas to work in South Africa.

In 2022, former home affairs director-general Mavuso Msimang recommended that the 22 requirements for skilled work permits be reduced to eight, with a lower compliance threshold and a two-week time frame.

Several years before, the 2017 White Paper on International Migration for South Africa stated that the 'attraction and retention of skilled international migrants and business persons who contribute positively to the economy' is one of seven key outcomes. It confirms that the country can't attract and retain sought-after international skilled and business persons, who play a role in promoting economic growth.

Neither home affairs Minister Aaron Motsoaledi, nor the Minister of Employment and Labour Thulas Nxesi, appear willing to move forward. Instead, they have adopted a punitive approach to foreigners, skilled and unskilled alike. It is time for an upgrade.

Jakkie Cilliers, Head, African Futures and Innovation, ISS Pretoria

Rwanda: Inside Rwanda's Rwf90 Billion Nuclear Energy Deal

Dual Fluid Energy-a Canadian-German nuclear technology firm announced on Tuesday, September 12, a new partnership with the Rwandan government to collaborate on the development of a nuclear reactor in the country.

The deal signed in Kigali by the firm's President and Chairman Armin Huke, and the Rwanda Atomic Energy Board (RAEB) Chief Executive Fidel Ndahayo is expected to bring a new type of nuclear technology to the continent and the rest of the world.

Speaking to The New Times after the signing ceremony, Dual Fluid CEO Götz Ruprecht said that the innovation of the new technology lies in the liquid fuel, which circulates in the reactor core at 1000°C and is cooled by liquid lead.

This new principle, he said, represents a new dimension of performance and economy in nuclear technology, and is protected by patents.

Nuclear power today utilizes fuel rods which are a construct from the early days of nuclear technology.

With fuel rods, only a very small fraction of the uranium is utilized, leaving the vast majority of it to be disposed of as waste.

However, instead of solid fuel rods or a single fuel/coolant liquid, the Dual Fluid Reactor (DFR) uses two separate fluid loops: One contains the fuel and the other circulates the coolant.

"This design results in a core that is much more compact in size than current reactors. A more compact core allows the use of structural materials that were previously economically unfeasible for reactor core use. These materials can handle much higher temperatures which enables our reactor to run at 1000°C and at atmospheric pressure.

Running at such conditions offers a truly new dimension in terms of performance and efficiency," Ruprecht said.

According to the deal, the demonstration nuclear reactor is expected to be operational by 2026 and the subsequent testing of the Dual Fluid technology is to be completed by 2028.

"We believe that Rwanda is the best place for us because of various reasons, including the declared strategy and political will to develop the country with reliable nuclear energy, we are in Rwanda because we simply believe that it is the fastest way to make its groundbreaking technology a reality."

Ruprecht, a nuclear physicist argues that the determination and ambition to build new nuclear power as fast as possible is less evident in many Western countries.

Not guinea pig

Reacting to the concerns that Rwanda is being used as a guinea pig for the Dual-Fluid reactors, Ndahayo explained that the country has more to celebrate from the agreement.

"What I can say, is it is practically impossible to be guinea pigs in this agreement," he said during his interview with The New Times podcast, the Long Form.

"Rwanda has just envisaged integrating nuclear power generation in its energy donation mix, and we have already decided to use small modular nuclear reactors, for which the standards have not yet been approved all over the world. So every country is using its own standards based on the opinion of experts in the field."

Equally important, he added, "When you try to introduce a new nuclear reactor in a country that already has established the regulations, it becomes difficult because you are dealing with people who are used to another type of nuclear technology, and there is that big inertia against the change. So when you have a new technology actually it's better to try to develop it in a country that has not yet developed another type."

Building domestic nuclear expertise

For Ndahayo, nuclear technology is considered an effective lever to advance the country's development, but it can not be achieved with a lack of skilled Rwandan engineers.

"Rwanda has long been interested in establishing domestic nuclear expertise. To this end, Rwanda has sent students on education and training programs to various countries with decades of experience in the nuclear sector," he added.

"So currently we have like a little bit more than 10 nuclear engineers that have graduated at the level of master's degrees. We have more than 130 students who are pursuing different programs in nuclear engineering and nuclear science mainly in three major universities of Russia specialized in training in nuclear engineering."

How it works

Ndahayo explained that the reactor core itself is the size of a washing machine. It is not expected to produce electricity but rather demonstrate and validate the new dual-fluid principle of liquid fuel and lead coolant, especially total self-regulation.

For instance, if the temperature rises, the fuel expands and the fission rate automatically drops.

The reactor stands in a hall, the size of roughly four tennis courts. There is a thick concrete wall as a radiation shield according to radiation protection standards.

Accident-free technology

While every technology has its benefits and disadvantages, Ndahayo asserted that nuclear power is one of the safest forms of energy - "as safe as wind and solar."

However, a Dual Fluid reactor differs fundamentally from existing nuclear technology.

The test reactor is a small device with a low burn-up and therefore little radioactive material inside. "For this reason, too, it poses no threat to the environment."

In the event that the reactor core breaks before the end of its intended operating life, officials said that the fuel in the core would spill into the surrounding vessel containing liquid lead, forming a lead/fuel mixture.

"This mixture can then simply be drained into safe containers provided for this purpose, as is the case at the normal end of the experiment. In the event of an additional leak in the double-walled cooling vessel, the fuel-lead mixture could escape, but it would quickly solidify.

As there are only small amounts of radioactive material in the reactor core, there would be no danger to nature or living creatures outside the concrete-shielded hall."

-New Times.

Kenya: Govt Moves to Expedite Issuance of Certificates of Good Conduct

Nairobi — The Government has launched a comprehensive effort to resolve the persistent issues of delays and unavailability surrounding the processing and issuance of certificates of good conduct at the Directorate of Criminal Investigations (DCI).

This move follows a wave of complaints from Kenyans who have faced protracted waiting times for this essential document, which is a vital requirement for job seekers within the country and those pursuing opportunities abroad.

On Tuesday, the DCI team led by Director Mohamed Amin met with Interior Cabinet Secretary Kithure Kindiki and canvassed the strategy for Information Technology (IT) system upgrade to match with developed jurisdictions.

Following the meeting, the Ministry of Interior and National Administration set in motion the timetable for clearing the backlog to restore public confidence in service delivery.

"Going ahead, the task remains to clear the backlog and upgrade the system from the current Automated Palm and Fingerprint Identification System (APFIS) to the more efficient Multi Biometric Identification System (MBIS)," Kindiki said.

The Principal Secretary of Interior, Raymond Omollo who was also part of the meeting, expressed the government's commitment to leveraging technology to streamline service delivery for all Kenyans across the nation.

He underscored the government's dedication to ensuring Kenyans receive efficient and hassle-free services, free from unnecessary delays

"Enhancing the Information Technology System at the Directorate of Criminal Investigations (DCI) will significantly expedite the processing of certificates of good conduct. We are committed to delivering a service that is both prompt and hassle-free for citizens, devoid of any avoidable delays," PS Omollo said.

Principal Criminal Registrar

On September 8, the Principal Criminal Registrar's (PCR) office introduced significant changes to the process of applying for Police Clearance Certificates upon the resumption of issuance.

Under the new directive, Kenyan citizens will no longer be required to schedule fingerprint capture appointments through the eCitizen portal.

Instead, they can simply select their preferred fingerprinting center on the portal and visit it at their convenience.

"The PCR further wishes to clarify that applicants no longer need to book fingerprinting dates on the eCitizen portal but must choose their preferred fingerprinting centers based on their convenience," stated the DCI.

Furthermore, the PCR urged applicants to ensure that the copies of their identity cards attached to their applications are legible and well-duplicated, especially in the thumbprint section.

Previously, individuals seeking police clearances had to book appointments with the PCR before undergoing fingerprint capture.

-Capital FM.

Lesotho: Netcare 'Siphoned' M5 Billion From Tšepong

Local shareholders in the Tšepong Consortium, which was tasked with running Lesotho's biggest referral hospital, the Queen 'Mamohato Memorial Hospital (QMMH), never received a single penny in dividends despite the government paying out more than M5 billion for the Consortium's services at the institution.

Instead all the money went to South Africa's Netcare Hospital Group, the single biggest shareholder in the Tšepong Consortium, which in October 2008 signed an 18-year Private Public Partnership (PPP) agreement with the government of Lesotho for the construction and operation of the hospital.

While the deal was at the time hailed as an exemplary model of how the private and public sectors could work together to foster efficient health service delivery, it had turned into a bane, with the South African company facing accusations of using the contract to effectively swindle poor Lesotho. The deal was costing about half of Lesotho's entire annual health budget with no corresponding reciprocal benefits, the Lesotho government argued before terminating the contract in October 2021.

Netcare had argued it was only doing its best to deliver professional health services to Lesotho.

It has since emerged that local shareholders in the Consortium - who collectively controlled 60 percent equity in the Tšepong Consortium - never benefited a penny despite the billions paid out by the government for services.

All the money went to Netcare- which controlled 40 percent of the shares but was in charge of the management contract and operations of the hospital.

The locals-controlled 60 percent equity without day to day operational involvement. These are Afri'nnai Health, Excel Health Services, Women Investment Company and D10 Investments who controlled 20, 20, 10 and 10 percent equity stakes respectively.

In a startling revelation, one of the directors of Tšepong Consortium, Professor Lehlohonolo Mosotho, said the local shareholders had never received a penny from the more than M5 billion paid by the Lesotho government to the Consortium since the hospital opened in 2011 until the August 2021 termination of the contract. The government cancelled the contract citing various reasons. The then Minister of Health, Semano Sekatle, claimed the PPP deal had been plagued with problems from the beginning. The government's main source of discontent was that Netcare was using the project o unjustifiably swindle half of Lesotho 's health budget. There was no transparency in how charges for its services were levied. A strike by nurses, who were then fired by Netcare, around the time of the termination, much to the chagrin of the government, became a trigger for the cancellation. But the dispute had been long simmering.

Of the more than M5 billion paid by the government to the Consortium for running Tšepong Hospital, Professor Mosotho alleges that Netcare had paid itself around M1 billion in dividends. It did not share a penny with the locals despite their 60 percent equity in the deal. Professor Mosotho is the owner of Afri'nnai Health.

He said the local shareholders had demanded a forensic audit to determine how Netcare had been running things but the latter had fiercely opposed that, presumably to avoid exposure of its alleged shenanigans.

Professor Mosotho makes the revelations in a stinging affidavit in opposition to Netcare's application at the High Court in which it wants to be granted the greenlight to sue the government for M1.6 billion for fees in outstanding services rendered and for prematurely terminating the 18 years PPP agreement.

Netcare wants to be granted permission to sue the government on behalf of all the shareholders in the Consortium. It alleges that the Consortium itself does not have the money to sue the government as it is now bankrupt.

But Professor Mosotho has rejected that allegation. He essentially, on behalf of the local shareholders, accuse Netcare of defrauding them. They therefore don't want Netcare to institute the action in case it is successful and more monies are paid to the South African company. The locals will still not be able to get a penny of whatever amount was paid to Netcare. Instead, the local shareholders will institute any legal action themselves. He says a meeting of the Tšepong Consortium was convened on 17 May 2023 and resolved to sue the government for any outstanding debts. If successful, the locals don't want the money to go to Netcare to avoid being "fleeced" again.

This case was argued before Justice Moroke Mokhesi in the Commercial Division of the High Court this week. He reserved judgment indefinitely.

"From the time Tšepong (QMMH) started operating around 2008 or thereabout until it had its contract terminated on 30 August 2021, it has been paid an estimated amount in the excess of M5 billion," Prof Mosotho states in his affidavit.

"From the time of inception until 2021, Tšepong has never declared dividends. I aver that all the money from the consortium was taken by the applicant. It is not clear to date as to what it did with the revenue ....

Prof Mosotho added: "I must inform the court that the applicant has refused that Tšepong be forensically audited. It (Netcare) has fought tooth and nail to resist the audit.

"All in all, the applicant seeks to achieve nothing else other than to appropriate to itself money that belongs to the first respondent (Tšepong Consortium) and the rest of its shareholders to the prejudice of all as it has happened from inception to date of termination of the contract by the Lesotho government."

Prof Mosotho attached a table titled Payments to Netcare showing different amounts of money paid to Netcare from 28 October 2016 to 3 August 2020 alone. These amounts add up to nearly M1 billion (M990 049 018.46 to be exact).

Prior to instituting the court action, Netcare had on 31 May 2023, through its lawyers, Bezuidenhout Inc, written to Minister of Health Selibe Mochoboroane, Minister of Finance and Development Planning Retšelisitsoe Matlanyane and Attorney General Rapelang Motsieloa demanding compensation to the tune of M1 601 820 173.

It said the figure consisted of M358 734 537 for services rendered in respect of the hospital, and the sum of M1 243 085 636 for compensation "due to the premature termination of the PPP agreement between the government and Tšepong".

It demanded payment within 14 days which the government obviously did not do, prompting the court action.

Netcare Hospital Group General Manager, Christoffel Smith, claims in court papers that the Tšepong (Consortium) was insolvent and therefore was unable to pay its debts to Netcare and other creditors, hence his company found it fit to pursue the M1.6 billion claims from the government on behalf of all shareholders.

"Tšepong wholly relies on the payment of monies owed to it by the government of Lesotho, yet it has done nothing whatsoever to recover the debt due to it by the government. It is evident that Tšepong does not intend to institute the legal proceedings or take any steps to recover the actionable claims and the fact that certain claims have already prescribed confirm that Tšepong does not intend to bring any proceedings to recover the actionable claims.

"The current financial position of Tšepong renders it technically insolvent with no financial means to pursue the claims even if the board decides to act responsibly and in the best interest of Tšepong. Tšepong is unable to settle its current financial commitments and unable to incur new obligations such as legal fees. The only realistic option to pursue the outstanding claims is for Netcare to conclude all litigation on behalf of Tšepong.

"I submit that it is in the best interests of Tšepong and the parties to the various agreements that the institution of these proceedings are necessary and in order to recover the debt from the government. Such recovery cannot be left to the directors of Tšepong or the shareholders as a whole who have failed the company in the non-exercise of their fiduciary duties to act in the best interests of the company, inter alia, by recovering debts due to the company. Netcare is well placed to institute these proceedings, Mr Smith argues.

But the local shareholders are fiercely opposed that. They don't want Netcare to institute any court proceedings on their behalf, lest the company succeeds and get paid to their detriment. They want to do it themselves, hence Professor Mosotho's scathing affidavit.

Mr Smith also reveals that the government and Tšepong had from November 2016 been locked in arbitration in an attempt to amicably terminate the contract between the two parties.

Mr Smith claims that the arbitration proceedings were halted in September 2017 on agreement that the International Finance Corporation (IFC) would assist broker a possible solution to the impasse.

"The IFC, through its designated team, convened various meetings with the government of Lesotho and Tšepong for the purpose of assisting the parties in attempting to reach a mutually beneficial solution. I attended these meetings in my capacity as representative of Tšepong. These meetings took place in the period commencing 2018 to 2021."

He further claims that the arbitration had been stalled and remained stagnant after f Minister Sekatle's decision to terminate the contract in August 2021.

Tšepong had earlier in March 2020 sued the government in the High Court, demanding M364 903 224.61.

"This action was unfortunately also stalled for similar reasons to those that caused the arbitration proceedings to be pended. The reason is because there is significant overlap between the nature of breaches of the PPP agreement that make up the claim in the case, and the nature of the breaches that found Tšepong's claims in the arbitration."

He said Netcare had decided thus to institute this fresh litigation to save costs of multiple litigations and also to prevent conflicting judgements.

But Prof Mosotho insists that Netcare is being dishonesty.

"The government is correct in refusing to pay the applicant. The government is not indebted to the applicant (Netcare) but to Tšepong. This is a fatal non-joinder of the government as it is borne by facts throughout the application. It is denied that Tšepong refused to pursue the claims against the government. On the contrary, Tšepong has pursued the claims against the government per its resolution during the special board meeting (of 17 May 2023). The intention of the applicant is not honest in the circumstances," Prof Mosotho alleges.

-Lesotho Times.

Ghana: Govt's Increment of Cocoa Prices a Grand Deception - Minority

The Minority in Parliament has described President Akufo-Addo's recent announcement of a GH¢1,308 producer price per bag of cocoa as a scam.

According to the NDC MPs, the farmers deserve some more as the price for the product on the international market had surged to a record high of about $3,600 per metric tonne as of August 31, 2023.

They argued that the government was ripping off the cocoa farmers instead of doing them good for their hard work.

In a press statement issued by the NDC MPs signed by its Deputy Ranking on Parliament's Food and Agriculture Committee, Dr Seidu Jasaw, they insisted that the farmers would be worse off with the new price.

"The Akufo-Addo/Bawumia/ NPP government has once again shortchanged Ghanaian cocoa farmers. The announced increment in the farmgate price of cocoa to GH¢1,308 is a total rip-off as cocoa farmers will continue to remain worse off than they were seven years ago under the NDC/Mahama government," the statement said.

The spot price of cocoa on the international market has surged to a record-high of about $3,600 per metric tonne as of August 31, 2023. This price is the highest since 1977- that is, in the last 46 years," an excerpt of their press release said.

Speaking at an event in Tepa, President Akufo-Addo acknowledged the challenges faced by cocoa farmers due to low international cocoa prices, exacerbated by the COVID-19 pandemic.

Despite these difficulties, he mentioned that COCOBOD and the government have decided to raise the producer price of cocoa.

The President explained that cocoa prices had increased from GH¢7,600 per tonne in 2016 to GH¢12,800 per tonne in 2022, a substantial 68 per cent increase.

He stated that the government had further raised cocoa prices from GH¢12,800 per tonne to GH¢20,943 per tonne, equivalent to GH¢1,308 per bag. This new price represents 70.5 per cent of the Gross FoB price and is equal to $1,821 per tonne. -- myjoyonline.com

Ethiopia: Some of Major Successes in Ending Ethiopian Year

As Ethiopians enter 2016 on September 12th, the ending year marked pivotal moments of progress for the country. After a difficult previous year, major successes were achieved in the year 2015, including wheat self-sufficiency, the Pretoria peace agreement, revived diplomacy, BRICS membership, and the successful completion of the fourth filling GERD.

Wheat Self-Sufficiency

For decades, Ethiopia imported millions of quintals of wheat costing millions of dollars annually. According to Ministry of Agriculture, Ethiopia used to import 17 million quintals of wheat every year, earmarking more than 700 million USD to meet its citizens' basic bread consumption. Thanks to the Prime Minister's Wheat Initiative, this chapter has been closed. The initiative helped the country achieve record harvests this year, exceeding domestic needs. Currently, wheat production has been showing a surplus of 32 million quintal from the country's domestic consumption. As a result of this achievement, the nation has become wheat exporter, shifting from being wheat recipient through its relentless efforts of wheat production. Over 108 million quintals were produced during the main rainy season, with 45 million more expected through irrigation. This bumper crop marks the largest wheat harvest since the initiative began, expanding production into new areas and boosting yields.

Historic Peace Agreement

The Pretoria peace deal between the Ethiopian government and TPLF concluded over two years of conflict by restoring respect for sovereignty and territorial integrity of the country.

By ending divisions, the agreement presented opportunities to rebuild the economy and investor confidence. Renewed stability can attract foreign capital as Ethiopia re-emerges as a promising investment destination. Through the peace agreement, Ethiopia has demonstrated its capability of resolving conflict peacefully. The African Union played a historic role in soliciting and coordinating a viable solution for the conflict after laboring for almost a year to design a permanent agreement that was duly agreed and accepted not only by the signatories but also by all international peace loving countries and global institutions. The Pretoria peace deal has also been described by many as "a Model for Africa," and a clear indication that the continent's principle of solving its own problems is yielding results.

The deal sparked a revival of Ethiopia's global diplomatic standing after strained relations during the conflict. High-level delegations of various countries from across the globe visited Ethiopia to reaffirm support. Alongside political reconciliation, Ethiopia pursued economic diplomacy to attract investment and aid for national rebuilding.

The signing of the peace agreement has demonstrated Ethiopia's irreversible stand for peace in the country and the Horn of Africa, where some influential political figures in Africa have started urging Ethiopia to step up its usual positive role for the cause of Africa both in the sub-region and in the entire continent.

Investment activities have also been greatly stimulating. Invest Ethiopia 2023 International Investment Forum held from April 26 to 28 here in Addis Ababa was a big achievement in this regard. The forum has attracted more than 2 billion USD in FDI for 2023. Ethiopia has now become a major investment destination in Africa primarily because of the comparative advantage the country is providing. This includes, among other things, lucrative investment climate, growing economy, excellent climate and fertile soil, young and trainable labor force, access to global markets, improved economic infrastructure, competitive incentive package and government commitment.

BRICS Membership

In a milestone for prominence, Ethiopia was welcomed as the newest BRICS member at the bloc's Johannesburg summit. BRICS endorsed Ethiopia's strategic location, large population, and infrastructure vision as credentials worthy of membership. The announcement of 2023 BRICS Summit in Johannesburg to embrace Ethiopia as its member was phenomenal to the country. Ethiopia was warmly welcomed into the steadily expanding bloc, (Brazil, Russia, India, China and South Africa). This monumental event signals a coming of age for Africa's second most populous nation on the global stage.

Ethiopia's BRICS membership heralds a new era brimming with potential. BRICS membership signifies growing recognition of Ethiopia's immense economic and political potential. With over 120 million people and massive growth in recent years, Ethiopia offers a strategic gateway between Africa, the Middle East and Asia. Ethiopian Prime Minister Abiy Ahmed hailed this "victory achieved through many struggles," thanking BRICS countries for their staunch support. He underscored how the bloc will empower South-South cooperation and reformed multilateralism. Abiy also articulated Ethiopia's strengths, from its young, dynamic workforce to intensive infrastructure development enhancing regional connectivity.

For Ethiopia, joining BRICS can catalyze technology transfers, market access, and financing for impactful projects. While challenges remain, the prime minister stressed that in an interdependent world, collectivity is essential to solve shared problems. By leveraging its new BRICS membership, Ethiopia is poised to deliver prosperity for its people and assume a leadership role on the global stage. This opportunity can bring vast investment, trade, and financing if reforms are undertaken. Ethiopia's addition cements its position as a rising African power.

Successful Filling of GERD

Prime minister of Ethiopia, Abiy Ahmed announced at the end of this year successful filling of fourth and final round of the Ethiopian Grand Renaissance Dam (GERD). "There were a lot of challenges. We had been dragged backwards. We had encountered internal challenges and external pressures. We have overcome all these and able to arrive at this stage. However, we have not yet completed climbing the uphill though we have just arrived at the tip of the hill," the premiers said.

The successful completion of filling of GERD is a monumental achievement demonstrating sovereignty and unity. This powerful symbol of self-reliance will double electricity generation capacity and make Ethiopia a major regional exporter.

As there were extensive diplomatic campaigns in this regard, it is a big diplomatic victory for the country to complete the water filling according to plan. The successful completion of filling is also being described as vital instrument to ensuring shared benefit not only for Ethiopia but for the Horn of Africa and riparian countries. The dam has great significance for regional integration too. Even if the dam is being built by Ethiopians internal capacity and in their sovereign territory, the benefit of the dam is beyond the nation. In addition, the dam has huge benefits in protecting for the lower riparian countries from sediment, floods and ensuring sufficient water flow. Despite challenges, its success highlights Ethiopia's determination to drive development. The project rallied citizens to donate funds and labor toward a historic national accomplishment.

Green Legacy Initiative

Ethiopia has been carrying out green legacy initiative with a view to fighting the challenges of climate change and ensures food self-sufficiency. Accordingly, the nation had planted over 25 billion seedlings over the past four years as part of the initiative, surpassing its goal of 20 billion. Ethiopia's Green Legacy Initiative has been an environmental success. During the second round of the initiative which was launched this rainy season, the nation planned to plant 25 billion seedlings from 2023 to 2026. Ethiopians have made another history at the national level by planting more than 566 million saplings in 12 hours during this rainy season. Millions have been participating across the country to restore land, improve soil, reduce erosion, and mitigate climate change through the initiative. Ethiopia's green diplomacy work is also gaining international recognition. As a model for mobilizing the public to address sustainability, it has inspired other nations while creating green jobs. With care in planning, it can continue offering economic and environmental benefits.

In summary, the ending year saw Ethiopia make great strides through peace building, food security, diplomacy, development projects and ecological initiatives. With unity and prudent governance, Ethiopia can fulfill its immense promises.-ENA.

China insurance boss jailed for life in corruption crackdown

The former chairman of China Life Insurance, Wang Bin, has become the latest high-profile boss to be imprisoned as Beijing's crackdown on the financial industry continues.

Mr Wang was sentenced to death with a two-year reprieve, according to a court ruling seen by the BBC.

After two years, the sentence will be commuted to life in prison without parole, the ruling says.

In April, authorities warned that the crackdown was far from over.

A court in Jinan in eastern China's Shandong province found Mr Wang guilty of taking 325 million yuan ($44.6m; £35.7m) in bribes.

Mr Wang, who was the firm's Communist Party chief, was also sentenced to a year in prison for illegally hiding 54.2 million yuan in overseas deposits.

He is the latest boss from a major Chinese financial institution to be ensnared in President Xi Jinping's more than two-year longcrackdown on corruption in the $60 trillion (£48 trillion) industry.

In 2021, Lai Xiaomin, the former chairman of Huarong - one of China's biggest state-controlled asset management companies - was executed after being found guilty of corruption and bigamy.

The same year, former China Development Bank chairman Hu Huaibang was sentenced to life in prison in a 85.5 million yuan bribery case.

Bao Fan, one of the country's most high-profile billionaire bankers and the chief executive of China Renaissance Holdings, has been "cooperating in an investigation being carried out by certain authorities" since his disappearance in February this year.

An investigation into Bank of China's party chief Liu Liange was launched in March. Mr Liu is suspected of "serious violations of discipline and law," authorities said.

In April, authorities said they were investigating Li Xiaopeng, the former chairman of state-owned asset management firm China Everbright Group.

Fan Yifei, a deputy governor of the country's central bank, was arrested for suspected bribery in June and is facing a criminal investigation. He has also been expelled from the Communist Party.-bbc

Apple forced to ditch lightning charger in new iPhone

Apple has confirmed its new iPhone will not feature its proprietary lightning charging port, after the EU forced the change.

The tech giant said that the iPhone 15, unveiled at its annual event on Tuesday, would use a USB-C cable as the "universally accepted standard".

A new Apple Watch series was also unveiled with a more advanced chip.

But one analyst said a lack of "headline-grabbing" updates from Apple this year would disappoint some.

"It isn't a surprise given the maturity of the iPhone and Watch," said Ben Wood from CCS Insight.

"It reflects just how refined the iPhone and Watch devices are and how tough it has become to deliver truly disruptive updates every year."

Apple released a USB-C-to-lightning port adapter for £29 ($36). The product connects the lightning port accessories people will have built up over the years to its new USB-C-enabled iPhones or iPads.

The latest iPhone handset, which goes on sale next week, is the first since 2012 to feature an alternative charging port.

The firm said the USB-C cable - which already works with many Apple laptops and iPads - will also work on new versions of its AirPods Pro earphones and wired EarPods headphones.

The EU had told the tech giant to ditch its proprietary charging ports to make life easier for consumers, save them money, and help reduce e-waste by encouraging re-use of chargers.

However, some warn the move will lead to a rise in discarded cables in the years to come.

Perhaps in response, Apple used its launch event on Tuesday to make a series of environmental pledges about its new devices, including making the new Apple Watch range carbon neutral for the first time.

New iPhone, new charger: Apple bends to EU rules

BBC editor tries out Apple's $3,499 headset

It will also increase the amount of recycled materials being used in batteries and other parts of the new Watch and iPhone.

The company also confirmed it would no longer use leather in any of its accessories and pledged to become carbon neutral as a business by 2030.

Apple boss Tim Cook said the new iPhone 15 range included the "best and most capable iPhones we've ever made".

The iPhone 15 and 15 Plus have been given brighter screens and improved camera systems, while the high-end iPhone 15 Pro and Pro Max now come with a titanium frame, meant to improve its strength.

The Pro and Max also have an "action button" in place of the mute switch that can be customised for a variety of functions.

The new Apple Watch will feature gesture control - double tapping two fingers together on the same hand where the device is worn enables wearers to answer or end a call.

But some experts questioned whether consumers would be prepared to pay the high price tags for the devices given that they are not hugely different to their predecessors.

How much is the new iPhone?

The iPhone 15 starts at £799 and the iPhone 15 Pro starts at £999 in the UK.

"Convincing users to fork out for these new devices will not be easy during a cost-of-living crisis," said Paolo Pescatore, analyst and founder of PP Foresight. "Some will see the new features as incremental, [although] collectively they enhance the overall experience which is priceless among Apple's core user base."

Apple's shares were down slightly on Tuesday, failing to reverse a sharp drop last week sparked by reports that the Chinese government had banned officials from using iPhones.

Huawei's release of a new smartphone series in China had fuelled the investor unease.

The global smartphone market has slumped from shipping 294.5 million total phones to 268 million in the second quarter of 2023.

But Apple's shipments fell the least of any major smartphone maker, dropping from 46.5 million phones to 45.3 million, according to analysts Counterpoint Research.-bbc

Qantas illegally fired 1,700 workers during pandemic - top court

Australia's highest court has rejected a bid by Qantas to overturn a ruling that it illegally outsourced 1,700 jobs during the pandemic.

The court unanimously upheld that the carrier had unlawfully laid off staff at 10 airports in November 2020.

The ruling found that Qantas breached Australia's Fair Work Act, which protects employee rights.

Qantas apologised for the outsourcing, but maintained it was a necessary financial measure during Covid.

The airline fired baggage handlers and cleaners at airports across Australia at a time when the nation had closed its borders and business was plummeting.

"As we have said from the beginning, we deeply regret the personal impact the outsourcing decision had on all those affected and we sincerely apologise," it said in a statement on Wednesday.

The High Court of Australia upheld that while Qantas had "sound commercial reasons" for the move, it had deprived workers of their rights to "engage in protected industrial action and... bargaining."

Workers and unionists described the outcome as a "huge win" after a "David and Goliath" struggle.

The Transport Workers' Union said the finding was proof that "the entire Qantas board must be replaced by new directors including a worker representative".

Its national secretary Michael Kaine called the carrier's actions "the largest sacking found to be illegal" in Australian history and promised that workers would now seek compensation in court.

Qantas has faced public outrage in recent weeks, after reaping record profits amid a series of scandals related to its actions throughout Covid - including allegations it sold tickets on thousands of flights that it had already cancelled.

The airline also been accused of supporting a government block on the expansion of Qatar Airways flights to and from Australia - a move which critics say would have made the market more competitive and driven down fares.

Alan Joyce, the long-time boss of Qantas, announced his early departure from the airline last week amid the mounting controversies.

Mr Joyce's final payout has been valued at about A$22m ($14m; £11m), according to the ABC.

His successor Vanessa Hudson is the airline's first ever female leader and has promised to restore its bruised reputation.-bbc

BP boss resigns over past relationships with colleagues

The head of oil giant BP has resigned as chief executive amid a review of his personal relationships with colleagues.

In a shock late evening announcement, the firm said Bernard Looney, who had led the company since 2020, was stepping down with immediate effect.

BP said it had recently started an investigation into alleged relationships Mr Looney had with colleagues, the review in two years.

The firm said Mr Looney had admitted he was not "fully transparent" initially.

"The company has strong values and the board expects everyone at the company to behave in accordance with those values," a spokesman said.

"All leaders in particular are expected to act as role models and to exercise good judgement in a way that earns the trust of others."

Nick Butler, a former head of strategy at BP, told the BBC's Today programme that there was "shock" about Mr Looney's exit.

"BP is a company where the leadership is crucial and Bernard provided a lot of that. We'll have to see if his successor can achieve even more than he did," he added.

The company's shareholders will now be watching for who is appointed as BP's next chief executive, Sophie Lund-Yates from investment firm Hargreaves Lansdown said in a note.

"A clear path forward needs to be forged sooner rather than later to limit negative sentiment," she said.

Born in Ireland and raised on a farm, Mr Looney had spent his career at BP, which he joined in 1991 as an engineer. He became a member of its executive team in 2010.

He has cultivated a more public profile than his predecessors, opening an account on Instagram, while steering the firm through a tumultuous period.

His tenure has coincided with the pandemic lockdowns, when demand for oil and gas dropped sharply; and start of the war in Ukraine, which sent energy prices soaring, while prompting the firm to leave Russia.

Mr Looney had set out a plan to make the energy giant net zero by 2050 but had more recently come under fire from environmental groups for watering down his initial targets.

BP said it had not made any decisions related to severance pay for Mr Looney. He received more than £10m in pay and bonuses last year, as soaring oil prices pushed the firm's profits to a record.

Chief financial officer Murray Auchincloss will act as chief executive on an interim basis.

Mr Looney's departure comes as a series of high profile dismissals of executives in the UK has put a spotlight on executive personal behaviour.

Tony Danker, boss of the UK's largest business lobby group the CBI, was fired in April over complaints about his behaviour at work.

Meanwhile, Crispin Odey was forced to step down from the hedge fund he founded in June after reports of sexual harassment allegations by 13 women. He has denied the claims.

BP said it had launched a review of Mr Looney's relationships with colleagues following an anonymous tip-off in 2022.

At the time, the company said Mr Looney disclosed "a small number of historical relationships with colleagues prior to becoming CEO" and it found no breach of company conduct.

The board said it had received similar allegations "recently", prompting another review.

"Mr Looney has today informed the company that he now accepts that he was not fully transparent in his previous disclosures," BP said. "He did not provide details of all relationships and accepts he was obligated to make more complete disclosure."-bbc

Cryptoqueen: Accomplice jailed for 20 years for OneCoin financial scam

A co-founder of the fraudulent OneCoin cryptocurrency has been sentenced to serve 20 years in a US prison.

Sebastian Karl Greenwood colluded with others, including the so-called "Cryptoqueen" who is now on the FBI's top 10 Most Wanted list, officials say.

They are accused of scamming more than $4bn (£3.2bn) from investors.

Greenwood, 46, a citizen of the UK and Sweden, was arrested in Thailand in July 2018. He pleaded guilty to wire fraud and money laundering in December.

Officials say OneCoin, which was founded in 2014 in Bulgaria, functioned as a global pyramid scheme.

Greenwood started and ran the company with Ruja Ignatova, the so-called Cryptoqueen who has not been seen since vanishing in Greece in 2017.

OneCoin sought to benefit from the success of Bitcoin, officials say, and "used the notoriety of Bitcoin to convince investors that OneCoin was the next 'can't miss' investment opportunity".

"In reality, unlike legitimate cryptocurrencies, OneCoin had no actual value and was conceived of by Greenwood and Ignatova as a fraud from day one," prosecutors with the US Attorney's Office for the Southern District of New York said in a news release on Tuesday.

The mystery of the disappearing 'Cryptoqueen'

Revealed: The Cryptoqueen's £13.5m London penthouse

The statement claimed that together, they "operated one of the largest fraud schemes ever perpetrated".

"We hope this lengthy sentence resonates in the financial sector and deters anyone who may be tempted to lie to investors and exploit the cryptocurrency ecosystem through fraud," said US Attorney Damian Williams.

The sentence on Tuesday was handed down by a federal judge in Manhattan. Prosecutors say many OneCoin victims were from the New York region.

The BBC podcast The Missing Cryptoqueen has been documenting the search for Dr Ignatova, the original public face of OneCoin.

Listen to The Missing Cryptoqueen podcast

The ex-McKinsey consultant had appeared at numerous events and on social media to promote the scheme.

But she disappeared from view around October 2017 and there has not been a confirmed sighting since.

The FBI has offered up to $250,000 for information leading to her arrest, according to the FBI's Most Wanted website.

Her FBI profile says she "is believed to travel with armed guards" and "may have had plastic surgery or otherwise altered her appearance".

-bbc

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