Major International Business Headlines Brief::: 15 September 2023

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Major International Business Headlines Brief::: 15 September 2023 

 


 

 


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

 


 

 


 

ü  Nigeria: I Will Permanently Change Nigeria's Narrative of Poverty, Insecurity - President

ü  Southern Africa: Silicosis - The Astonishing Story of the Driller From Lesotho

ü  Kenya: How Electric Bikes Can Help Make Kenya's Streets Cleaner, and Beat Nairobi's Infamous Traffic #AfricaClimateHope

ü  Kenya: Advocacy Group Petition Film Board to Expedite Tiktok Live Feature Ban

ü  Nigeria: Power Restored After Nationwide Blackout in Nigeria

ü  South Africa: Tshwane Suspends All Bus Services After Trucks Torched

ü  Nigeria: Rush for Solid Minerals Turns Farmers Into Sacrificial Lambs in Nasarawa

ü  Kenya: Why World Coin Operators Haven't Been Arrested - Interior Cabinet Secretary Kindiki

ü  South Africa: Hundreds Queue in Cape Town City Centre in Hope of a Job

ü  Kenya: High Court Ruling On Finance Act 2023 Set for November 24

ü  Workers start strike at US motor industry giants

ü  Taiwan tells Elon Musk it is 'not for sale'

ü  Eurozone interest rates raised to all-time high

ü  French iPhone 12 warning: European regulators examine alert on radiation levels]

ü  France's Carrefour puts up 'shrinkflation' warning signs

 


 

 


 <https://www.cloverleaf.co.zw/> Nigeria: I Will Permanently Change Nigeria's Narrative of Poverty, Insecurity - President

President Bola Tinubu, yesterday, promised to permanently change the country's ugly story of poverty, insecurity, and underdevelopment, saying Nigeria has no business being in such situations.

 

Tinubu spoke at State House, Abuja, when he received in audience a 62-man delegation of leaders from Rivers State, who were on a courtesy visit to him. He vowed to work hard with purpose, determination, and dedication to reverse the current unpleasant socio-economic trend in the country and achieve possibilities.

 

The president added that Nigerians, unlike the postulation of his predecessor, Muhammadu Buhari, were not a lazy people. He said he was focused on creating wealth for all Nigerians.

 

The delegation comprised leaders from both All Progressives Congress (APC), which controls the federal government, and Peoples Democratic Party (PDP) that governs Rivers State.

 

According to a release by his media adviser, Chief Ajuri Ngelale, Tinubu told the Rivers delegation, "We are not meant to be in a position to be poor. We will turn the tide! Somewhere, somehow in this storm, there's a quiet and peaceful place for us. We will locate it.

 

 

"We are not lazy people. We are richly endowed. We just need to be our brother's keeper, and good neighbours to one another. I am not a president that will give excuses. I will work hard for our nation with purpose, determination and dedication to create wealth for all Nigerians. We have no reason to be poor! We will not look back, we will run aggressively forward.

 

"Today, we may be swimming against the tide. But the waves will soon propel us forward from behind. We will achieve the goals and dreams of our forefathers. I am inspired by the nation of people I now lead."

 

Advising the younger generation to be more patient with the processes of government, Tinubu said, "I am the captain and chief salesman of the country. We have to reverse the trend and achieve possibilities within a short period of time. Our people have high expectations for us. I pledge to work hard, and I pray to God to put me on the right path, not to disappoint Nigerians."

 

 

Tinubu said after being blessed with enormous human capacity and natural resource wealth, neither Rivers nor Nigeria had any business being associated with poverty, insecurity or under-development. He assured the people that under his leadership, the narrative would be changed permanently and positively.

 

He pledged the commitment of his administration to the reconstruction of the Eleme axis of the East-West Road, stating that he has heard the cries of prominent Rivers sons and daughters, particularly, with regard to the Eleme Junction-Onne axis of the East-West Road, linking the Port Harcourt Refinery.

 

The president said Minister of Federal Capital Territory (FCT), an indigene of Rivers State and immediate past governor of the srare, Nyesom Wike, was a strong adviser, and he would follow up on the East-West Road reconstruction issue for prompt action.

 

 

According to Tinubu, "The Honourable Minister, Wike, is not just the Minister of FCT, he is also my adviser and an admirer of mine. He has hit the ground running and he should be encouraged by the state."

 

The president said Wike had left big shoes for the current Rivers State Governor, Siminalayi Fubara, to fill and Wike, being one of his most trusted allies, Rivers State would always have direct access to him in their joint march toward sustainable development.

 

Earlier, Fubara told the president that the delegation, which included leaders of political parties and past and present members of the state and national assemblies across party lines, was on a solidarity and thank you visit.

 

The governor said, "The people of Rivers State voted for you in the last general election based on their belief in fairness, equity and justice. This is the first time that Rivers State is truly feeling the impact of the federal government since the inception of democracy in 1999."

 

The governor noted that the delegation greatly appreciated the president for appointing capable sons and daughters of the state into highly strategic positions within his administration.

 

Fubara particularly thanked the president for the appointments of Wike and Ngelale, as well as other sons and daughters of the state into the Boards and Management of the Niger Delta Development Commission (NDDC) and other institutions.

 

He hailed the president for attracting a $14 billion dollars investment approval for projects nationwide during the G-20 Summit, including the expansion of Indorama Petrochemicals in Eleme, Rivers State. He said the state had just allocated 209 hectares of land in support of the new investment.

 

Speaking with newsmen after the meeting, a member of the delegation and former President of the Nigerian Bar Association (NBA), Chief Joseph Okocha, said the team came to thank the president for appointing Rivers indigenes into his government. He said included in their demands "was the state of the East-West Road, leading to the refinery, and we did mention that that will enhance the movement of petroleum products when the Port Harcourt Refinery comes on stream."

 

-This Day.

 

 

 

 

 

Southern Africa: Silicosis - The Astonishing Story of the Driller From Lesotho

Family receives R340,000 payout after death of miner who suffered from silicosis

 

Lebohang Molise* worked underground as a driller for 23 years, during which he nearly lost his leg in a rock fall, had a bone in his foot crushed, and developed TB and silicosis. He claimed compensation through the Q(h)ubeka Trust, set up after a court settlement between mineworkers and their former employers. But Molise died before the payout of more than R340,000 could be made. His story is told in the report of the Trust, which wound up in April this year after paying out more than R420-million in claims.

 

Lebogang Molise was born on 3 March 1949, in what was then the British Crown colony of Basutoland, high in the mountains in Quthing district. He began his first 12 month contract with The Employment Bureau of Africa (TEBA) at Libanon Gold Mine (part of the Gold Fields group, near Carletonville). By then Basutoland had gained its independence from the United Kingdom and had been renamed the Kingdom of Lesotho.

 

 

After six months back home, Molise switched to a new employer, Anglo American, and was sent to the Free State Saaiplaas gold mine near Welkom. He was to complete 23 year-long contracts at this one mine, working underground as a driller, over the next 31 years.

 

During this time, the mine changed its name twice, first to FreeGold, then Masimong gold mine, after Anglo sold it to Harmony in 1997. To start with, Molise took quite long breaks between contracts, sometimes more than a year.

 

He worked eight year-long contracts in the 14 years from 1970 to 1984. In 1981 he got married to Emily* in Quthing. In 1982, at the start of Molise's eighth contract, the medical examiner at Free State Saaiplaas stated: "This worker has been clinically and radiologically examined and found free from Pneumoconiosis and Tuberculosis and fit for work in a dusty atmosphere." The pace of work now picked up -- he worked eight, year-long contracts in just nine years to 1994.

 

 

Molise had a wife and three children, but he had seven years of bad luck between 1989 and 1996.

 

Silicosis

 

At the start of his 13th contract in 1989 he was diagnosed with silicosis. This was confirmed by a benefit examination for the Medical Bureau for Occupational Diseases (MBOD) in mines and works at Ernest Oppenheimer Hospital, Welkom. The MBOD stamped his application to the Compensation Commissioner for Occupational Diseases in mines and works (CCOD) for a "Benefit by a Black Person" in terms of ODMWA - the Occupational Diseases in Mines and Works Act of 1973.

 

On 2 February 1989, the Chair of the MBOD's Medical Certification Committee signed the finding: "TB - No; other compensatable diseases - Yes Pneumoconiosis".

 

TEBA service documents do not show any change of job after this diagnosis.

 

 

In 2000, a hospital medical record card indicated that drugs were dispensed to Molise - the spindly scrawls did not show a reason. Notes here said that he had failed acclimatisation twice ... "chest pains, coughing, blood-stained sputum... Known silicosis has never been compensated."

 

The TEBA records show that despite the silicosis diagnosis in 1989, Molise worked on as a driller for the next 14 years, in a hazardous environment with heat, noise and dust until 2003. By this time he was suffering from silicosis and tuberculosis "an occupational disease in the SECOND DEGREE ...".

 

Leg injury

 

But before then, there were two accidents underground. The first, on 28 August 1993, was very serious indeed. It occurred when part of the sidewall fell as he was drilling, trapping his right leg and tearing away the muscles. Over 300 pages of medical charts detailed ten days in the ICU, multiple blood transfusions, operations and several skin grafts as the skilled staff tried to save his leg. It was touch and go, he was often confused from the drugs and in pain, but he was discharged from hospital - on sick leave - after seven weeks. He returned to work, still drilling, on 23 February 1994 after 181 days off work.

 

Doctors reduced his permanent disablement percentage to 1% from a previous 15%, because the wounds had healed. He attended a disability assessment for compensation in terms of the Compensation for Occupational Injuries and Diseases Act (COIDA): "massive crush and avulsion muscles R thigh....20 cm scar healed".

 

On 8 October 1996, Rand Mutual Assurance rejected the claim for compensation for disablement, because of the lack of clinical information. Rand Mutual, founded in 1894 to administer Worker's Compensation Insurance benefits to injured miners, operates under licence from the Department of Labour, and provides benefits in accordance with COIDA.

 

Bone crushed

 

Two months later, on 16 December 1996, Molise was injured again in an underground accident when rock penetrated his boot and crushed a bone in his right foot. He continued drilling until a stretcher was found for him. He was in hospital for six days and in plaster for three weeks. He attended physiotherapy sessions at the Ernest Oppenheimer Hospital and resumed work after 25 days off.

 

In June 1997, he attended a disability assessment for COIDA compensation: "compound committed fracture right foot first metatarsal". Rand Mutual issued a cheque in his favour for R1,009 - lump sum compensation under COIDA for 1% disablement from a fractured right foot.

 

Molise worked almost continuously from now on, completing six contracts of a year each in under seven years. In June 1998, beginning his 20th contract as a driller at Saaiplaas , he went to AngloGold Health Service Free State Region for a three-yearly medical examination at the Occupational Health Center. "Age 49, Height 178; weight 69". Harmony Hospital Occupational Health issued an initial certificate of fitness in 1999, as Molise began his 21st contract at the mine - recently absorbed by Harmony and renamed Masimong. Molise said on the form he had never had treatment for tuberculosis and never had any operations or serious injuries or accidents. He had consulted a doctor in the previous five years--for a flu-like illness. Height 177; weight 71kg. A note on the form referred to his previous examination.

 

The mine knew of his previous silicosis diagnosis.

 

An undated mine history for Molise shows he did high dust work at Saaiplaas for 12 years, at Masimong for three years up till July 2000, and that he was still employed in high dust work at Masimong from August 2000.

 

In January 2001, an MBOD form shows Molise was still working as a driller. The form said he had not previously been compensated for a compensable disease. Lerato Molise was identified as his dependent. He attended a MBOD benefit examination at Harmony Mine Hospital. He was diagnosed with Pulmonary Tuberculosis and TB treatment started on 12 January.

 

 

He was notified on 17 January that he tested positive for TB. He was issued with a Harmony Hospital Tuberculosis Card. The card says that he had not previously had TB.

 

Compensation

 

On 27 July 2001, relying on the examination at Harmony earlier in the year, the CCOD issued a certificate that Molise was suffering from silicosis and tuberculosis "an occupational disease in the SECOND DEGREE. Maximum certification - you therefore no longer qualify for examinations. Concerning possible compensation the CCOD will send you forms to complete."

 

TEBA recorded another annual contract at Masimong from 28 October 2001 to 28 October 2002. After a two month break, Molise returned for a new contract on 8 January 2003. But he was immediately "booked off" 'SICK' . He had silicosis and TB.

 

On 13 January 2003, Harmony issued an exit medical certificate for him. This says he worked in hazard/risk environments with dust, noise and heat exposure from 1982 to January 2003. His chest Xray result at this date was "Fibrosis and Silicosis". Occupational disease was present: TB, silicosis and possibly noise-induced hearing loss. A compensation submission for lungs had been made in January 2001 and one for noise induced hearing loss was to be made to Rand Mutual.

 

But Rand Mutual said the mild degree of hearing impairment shown in the tests was not compensable in terms of COIDA.

 

In February TEBA records that Molise was discharged and returned home to Quthing. We do not know if or when he received the statutory compensation - he probably did.

 

Five years later TEBA records reported that he signed a final contract with "Anglo Mining Services". Before beginning work, Molise attended a fitness exam at the AngloGold Ashanti Occupational Health Centre in June 2008. His occupation was listed as "driller", but he was found unfit for underground work on examination. It is not known when his contract ended.

 

Claim

 

In 2011, aged 62, Molise signed up with lawyers Leigh Day & Co and Mbuyisa Neale Attorneys, as one of 4,365 claimants in the "Qubeka" court case to demand compensation for silicosis from Anglo Gold. The "Qubeka" court case began in 2012 and continued for another four years until March 2016 when the Q(h)ubeka Trust Deed was signed. This followed a negotiated settlement between the lawyers of the mineworkers and their former employers: Anglo American South Africa and AngloGold Ashanti. Only those diagnosed with silicosis by the Trust's medical assessment panel were eligible for compensation. And claims could only be paid if claimants had two years of qualifying service on a specific list of mines.

 

On 2 September 2017, Molise died, in the same village in which he had been born, before attending the Trust medical examination. The District Administrator Quthing declared his wife to be the beneficiary of the estates of the late Lebohang Molise.

 

Trust staff obtained 350 pages of employment and medical records for Molise from the mining companies. The TEBA office at Quthing provided a printed Record of Service that showed Molise worked on the gold mines from 1969 to 2003, including 21 years of service on qualifying mines.

 

The Trust's medical panel assessed the exit medical certificate, and other medical records and categorised Molise as C4e - the most severe level of impairment, based on previous medical evidence.

 

In May 2022 the Trust head office received details of the family bank account, and two tranches were paid out in the same week first R162,789, then R180,340, making a total of R343,129 for the family of Lebohang Molise.

 

*Not their real names.

 

This is a shortened and slightly amended version of a chapter in the Q(h)ubeka Trust report.

 

The Trustees of the Q(h)ubeka Trust, who served from 2016 to 2023, were Sophia Kisting-Cairncross, Chairperson; Goolam Aboobaker; John Doidge and Alicia Kistan.

 

-GroundUp.

 

 

 

 

Kenya: How Electric Bikes Can Help Make Kenya's Streets Cleaner, and Beat Nairobi's Infamous Traffic #AfricaClimateHope

Nairobi, Kenya — Entrepreneurs are on a mission to make our cities cleaner and more liveable.

 

As the co-founders of eWAKA, a platform dedicated to serving commuter and commercial electric micro-mobility fleets, Celeste Vogel and Jimmy Tune are committed to making our cities more sustainable and liveable. They believe that electric micromobility is the key to reducing traffic congestion, air pollution, and noise pollution.

 

eWAKA is a Kenyan company that provides electric two-wheelers, including cargo bikes, to a wide range of people, including women, young people, and commuters. The company believes that electric cargo bikes are the best way to reduce carbon emissions in cities like Nairobi, and is committed to finding sustainable solutions for battery waste. It was founded in 2021 with the aim of identifying the types of electric vehicles that would be most successful in Africa, not just Kenya.

 

"When we started, the industry was focused on boda boda (motorcycles) riders, but we believed that one size does not fit all. We wanted to create electric two-wheelers that would appeal to a wider range of people, including women, young people, and commuters," Vogel said. "Our first customer was a clinic that used our electric scooters to transport lab technicians, nurses, and doctors to deliver urgent care at home or at the office. This saved them a lot of time in traffic, as they would have otherwise had to take a car."

 

 

"We then tested our scooters with commuters to see if they would be interested in taking control of their own schedules, rather than waiting for public transportation," she said, "We found that a lot of people were interested in getting their own electric bike, especially as fuel prices are going up. They were able to save quite a bit, not only financially but also in terms of time.

 

"We also thought of cargo bikes, and we were the first to bring actual cargo bikes to Kenya that can carry a weight of 165 to 200 kilos together with a rider. Our flagship bike, the Shujaa, was tested commercially with delivery riders, partnering with fleets and logistics platforms. We developed a model that we found to be more scalable by connecting riders, especially women riders and unemployed young people, with jobs. Instead of renting them the bike, we would give them the bike without any upfront payment, connect them to a job, make sure that the job pays well, and then we would pay ourselves out of what is earned at the end of the day.

 

 

"Our last vehicle is the e-bike, which we also target commuters but also commercial riders. We actually give the battery together with a charging kit. This gives people more freedom to decide when and how to charge their bikes and benefit from the low electricity rates in Kenya. They also have the freedom to decide when they would like to charge the battery. A lot of our customers actually buy an extra battery so that they can take charge of their own swapping and are not dependent on someone else to decide when they can swap and at what price. These are the bikes that we offer in our company," she said.

 

 

Checkups Medical Procured e-bikes from eWaka

 

In the face of rising fuel costs and environmental concerns, Dr. Moka Lantum, the founder and CEO of Checkups Medical, has embraced a revolutionary solution: electric bikes. His innovative initiative, which dispatches nurses to homes in logistically challenging areas using e-bikes, has not only reduced the company's fuel consumption by 80% but also set a precedent for sustainable healthcare delivery.

 

"At our main location, we have seven bikes that deliver medicines within a 10-kilometre radius. We also have nurses who use bikes on demand for house calls. The cost of fuel is replaced by the cost of battery charging. We have reduced our fuel consumption by 80% in the past year. We expect to further reduce our consumption by 15-20% in the next year," he said.

 

Dr Lantum added: "in order to make electric bikes safer and more accessible, we need to improve our infrastructure. This includes building dedicated bike lanes and educating motorists about the rules of the road. We also need to raise awareness of the benefits of electric bikes, so that more people will choose to use them. With the right infrastructure and education, electric bikes can become a safe and sustainable mode of transportation for everyone."

 

By raising awareness of the environmental and economic benefits of these vehicles, Lantum hopes to inspire others to adopt this sustainable mode of transportation.

 

Electric Cargo Bikes for a Greener Future?

 

Transportation is a major contributor to the climate crisis. The International Energy Agency (IEA) reports that transport accounts for around one-fifth of global carbon dioxide (CO₂) emissions, with three-quarters of this coming from road transport.

 

A report from the Intergovernmental Panel on Climate Change (IPCC), released on April 4, 2022, found that falling costs for renewable energy and electric vehicle batteries, along with policy changes, have helped to slow the growth of the climate crisis in the past decade. However, the report also concluded that deep, immediate cuts in greenhouse gas emissions are needed to stop emissions growth entirely. The new IPCC report outlines several possible scenarios for how much emissions reductions can be achieved through improvements in the transportation sector.

 

Electric vehicles, often called EVs, are a critical part of the solution to cleaning up the transportation sector. However, the ability of EVs to cut greenhouse gas emissions ultimately depends on the cleanliness of the electricity grid. EVs are a key part of meeting global climate goals. They are featured prominently in emissions reduction pathways that limit warming to well below 2 degrees Celsius or 1.5 degrees Celsius, which are in line with the Paris Agreement's targets.

 

 

E-bikes are powered by electricity and are also much quieter than cars, which can help to reduce noise pollution.

 

Vogel said: "Our bikes are fully electric, so they have zero carbon dioxide emissions. We believe that electric cargo bikes are the best way to reduce carbon emissions in cities like Nairobi. They are powerful, nimble, and can carry a lot of weight. They also don't pollute or make noise, which is a big problem in Nairobi. If everyone in Nairobi used an electric cargo bike to get around, we would have much lower levels of pollution and noise, and we would also save money."

 

Electric Bikes - Silent but Safe?

 

While EVs do not directly emit greenhouse gases, they still produce emissions in the process of being built and charged. This is because the electricity that powers EVs is often produced from fossil fuels, and the mining and processing of the materials used to make EV batteries also requires the use of fossil fuels.

 

The production of EV batteries requires the mining of raw materials, such as cobalt and lithium. These materials can be extracted using environmentally harmful methods, and their mining can also have negative impacts on local communities. However, manufacturers are working to develop more sustainable battery manufacturing processes, and there are also efforts to recycle EV batteries and reuse them in other applications.

 

"We've been thinking about battery waste management since we started the company. There's no major infrastructure for recycling electric vehicle batteries in Africa, just like in Europe. However, there are a few projects underway to address this issue. We're talking to a potential partner about using old batteries to power appliances at home. We don't want to add to the waste problem in Africa, so we're committed to finding sustainable solutions for battery waste."

 

Protecting the Environment - A Global Effort

 

"... the Africa Climate Summit ... is a testament to Kenya's commitment to addressing climate change. I am also a member of the Electric Mobility Association of Kenya, where we work with policymakers and other stakeholders to develop the right policies and standards for electric mobility. I agree that it is the responsibility of the government, but also of stakeholders like us, to push for conversations and make suggestions to ensure that we operate in a self-regulated environment that addresses concerns such as the quality of electric vehicle parts imported into the country and the import of old petrol cars from other countries. These are all important discussions that need to take place, and I believe that everyone is aware of the need for them," Vogel said.

 

International companies are leading the way in the adoption of EVs, with many setting ambitious targets to electrify their fleets.

 

Electric mobility is gaining momentum in Africa, driven by innovative policies and initiatives. Several countries, including Rwanda, Mauritius, and Ethiopia, have introduced progressive policies and incentives to help drive the adoption of electric vehicles (EVs). Some African governments are beginning to introduce policies to support the adoption of EVs. For example, Egypt plans to manufacture 20,000 vehicles internally starting in 2023, and Kenya aims for electric vehicles to account for 5% of all vehicle imports by 2025. Rwanda has exempted EVs from import duties and taxes, and Ethiopia has provided subsidies for the purchase of EVs. Additionally, the African Development Bank (AfDB) announced in February 2023 that it will provide U.S.$1 million in grants for technical assistance to support the development of EV infrastructure in Kenya, Morocco, Nigeria, Rwanda, Senegal, Sierra Leone, and South Africa.

 

Smart grids powered by renewable energy can help Africa overcome its chronic power shortages, reduce greenhouse gas emissions, and achieve its climate goals.

 

"I know that Kenya has instituted lower rates for electric mobility than for other uses. Our batteries are all removable, so people can take them out and charge them in their homes just like they would charge their phones. We also have charging stations at various locations around the city, including our own location. Riders can either charge overnight or during the day. Many of our customers purchase two batteries so that they can swap them out as needed."

 

Human Rights Abuses in DR Congo Cobalt Mines Exposed

 

The increasing demand for clean energy technologies has led to a growing need for specific metals, such as copper and cobalt, which are essential for making lithium-ion batteries. These batteries are used in devices such as electric cars and mobile phones, reports Amnesty International.

 

(DRC) has led to the forced eviction of entire communities and grievous human rights abuses. Amnesty International and the DRC-based organization Initiative pour la Bonne Gouvernance et les Droits Humains (IBGDH) detail in their report, Powering Change or Business as Usual? how the scramble by multinational companies to expand mining operations has forced communities from their homes and farmland. DRC has the world's largest reserves of cobalt and the seventh-largest reserves of copper. The human rights group's report estimates that the demand for cobalt will reach 222,000 tonnes by 2025, triple the demand in 2010.

 

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 found that people were being forcibly evicted, threatened, or intimidated into leaving their homes, or misled into consenting to derisory settlements. There was often no grievance mechanism, accountability, or access to justice. The report calls on the government of the DRC and the mining companies to take immediate steps to stop the forced evictions and other human rights abuses and to ensure that the communities affected are adequately compensated and resettled.

 

Challenges

 

Despite the growing momentum, Sub-Saharan Africa still faces some unique challenges in its transition to electric mobility, such as unreliable electricity supply, low vehicle affordability, and the dominance of used vehicles. Mckinsey reports that the upfront cost of EVs is currently prohibitive for many Africans due to comparatively low household incomes, low availability of asset finance at affordable rates, and higher price points for EVs.

 

Another challenge to the adoption of electric vehicles in Africa is the lack of charging infrastructure, coupled with the poor condition of roads and electricity grids in many African countries.

 

"It's still early days in the electric mobility sector, but the primary concern is the upfront cost, especially for low-income people. Finding financing solutions is at the top of the list of barriers to adoption. We also need to educate people about the benefits of electric mobility, such as reduced traffic congestion and pollution. Cargo bicycles are especially beneficial for African cities because they are democratic, easy to use, and can help to reduce traffic congestion. We are excited to see the growing interest in electric mobility in Africa, and we believe that it has the potential to transform our cities," Vogel said.

 

 

 

 

Kenya: Advocacy Group Petition Film Board to Expedite Tiktok Live Feature Ban

Nairobi — A non-profit organization advocating for the protection of children and the family unit has petitioned the Kenya Film Classification Board (KFCB) to provide a status update on the ban of the Tiktok live feature.

 

CitizenGo Campaigns Director Anne Njogu says they are concerned that implementing the ban is taking time, as she called on the regulating agency to expedite the process.

 

She stated that banning the live feature in the popular social media app will help save the community from social decay before the matter gets out of hand.

 

 

"We are concerned that implementing the ban is taking time, and we would like to see this expedited. We are losing a generation to TikTok due to the live, unfathomable things that happen in these recordings," announced CitizenGo.

 

"A lot of shameless pornography occurs every night, turning the platform to Sodom and Gomorrah."

 

The development came after KFCB interim CEO Joel Wamalwa asked TikTok to make the 'live feature' ineffective on the app so that they can ensure that no community guidelines in the country are violated.

 

Wamalwa stated that KFCB in collaboration with other relevant Government agencies is keen on fostering cooperation with TikTok and other platforms to help content creators monetize and commercialize their talents.

 

"The role of KFCB is to regulate the creation, broadcasting, possession, distribution, and exhibition of film and broadcast content," cited from the KFCB website.

 

 

"The regulation is meant to ensure that content conforms to Kenya's culture, moral values, and national aspirations as well as to protect children from exposure to inappropriate content."

 

Last month, Bridget Connect Consultancy, Bob Ndolo petitioned the National Assembly to consider regulating or banning TikTok in the country due to its explicit content promoting violence, hate speech, and vulgarity that undermines Kenya's cultural and religious values.

 

A parliamentary committee is due to study the request within two months.

 

Somalia became the latest country to announce it was banning TikTok, as well as the Telegram messaging service and an online betting site, with effect from August 24, claiming that these platforms were being used by "terrorists", notably the radical Islamist Shebab.

 

In Senegal, the authorities suspended it in early August until 'further notice' due to the dissemination of 'hateful and subversive' messages following protests against the imprisonment of opposition figure Ousmane Sonko.

 

The application, which has more than a billion active users worldwide, is also suspected by the authorities in the USA and several European countries of not protecting data sufficiently and of allowing Beijing to spy on and manipulate its users, something the group has always vigorously denied.

 

-Capital FM.

 

 

 

 

Nigeria: Power Restored After Nationwide Blackout in Nigeria

Electricity supply has been restored hours after a nationwide blackout due to the collapse of the national grid on Thursday.

 

Disclosing this on its Twitter handle, now (X), Eko Electricity Distribution Company told its customers that electricity supply has been restored in the country.

 

"Dear Valued Customer. Kindly be informed that power supply has been restored from the grid. Thank you for your patience," the company said.

 

Vanguard had reported how the country's power supply dropped by 93.5 per cent to 273 megawatts, MW in the early hours of today, from 4,182MW recorded on Monday, this week, following a complete system collapse, due to equipment failure or grid disturbance in the sector.

 

The award winning paper had also reported how the Electricity Distribution Companies, DisCos, apologised to their customers and promised to restore supply when the situation improves.

 

-Vanguard.

 

 

 

 

South Africa: Tshwane Suspends All Bus Services After Trucks Torched

Harare — The City of Tshwane suspended some of its municipal services after striking municipal workers allegedly set fire to some of the city's infrastructure, according to EWN.

 

In the middle of an ongoing municipal employees' strike, violent scenes broke out in the Pretoria CBD as several buses and four city-owned cars were stoned. This came as a result of conflict over a 5.4% pay raise between the Democratic Alliance (DA)-led metro and the South African Municipal Workers' Union (Samwu).

 

The union disputed the city's comment that it lacks funds to pay its employees.

 

Four metro trucks and a bakkie were set on fire, allegedly by the striking municipal workers, prompting the City of Tshwane to suspend all bus services.

 

 

 

 

Nigeria: Rush for Solid Minerals Turns Farmers Into Sacrificial Lambs in Nasarawa

Chinese companies are at the forefront of mining activities in Nasarawa State that are taking land away from local farmers.

 

Ilyasu Umar's farmland in Adudu, Nasarawa State, served his family for generations until he was evicted from it in 2021.

 

Adudu is located in Obi Local Government Area of Nasarawa, an agrarian northern Nigerian state with lots of mineral deposits. However, the exploitation of the minerals is turning into woes for the local farming population. The lush green landscape of the area, once devoted to agriculture, is now being devoured by mining operations.

 

Mr Umar, whose 30 hectares of farmland was taken, is in despair like many other farmers who have accused community leaders of supporting mine operators to take their farmlands without compensation.

 

"This land belonged to my family for almost four generations. I cultivated maize, cassava and sesame and got bountiful harvests in years past. I remember the farming season of 2018 when I harvested over 1000 kilogrammes of maize from that same piece of land," Mr Umar told PREMIUM TIMES.

 

 

"When the miners started coming into the community, it was a cause for concern for me and the other farmers. The sarkin (chief) has taken all the land from us and said we should not complain about it," he said.

 

Some other villagers corroborated Mr Umar's account of the land takeover. They narrated how mine operators allegedly induced the community's chief into taking land from farmers and handing it over to the mining firms.

 

His farmland seized, Mr Umar now works as a driver, moving local goods to neighbouring towns.

 

"I had to immediately take up work as a driver to support my family. It's a completely different line of work, and the income is not as steady as when I was a farmer," he said with a hint of nostalgia.

 

 

"While many other farmers who were displaced have relocated to nearby villages in search of new farming opportunities, I find myself unable to do the same at the moment because of my family."

 

Apart from being displaced from their farms, the farmers also said they received no compensation from the mining company.

 

"We, the farmers, have never received payment or compensation from the mining operations in this community. And we do not have the power to do anything about the situation," Mr Umar said

 

"We hope the government and the people in authority will hear about our plight and address it."

 

We did no wrong

 

However, the community leaders and the operators of one of the big mining companies in the village said they did no wrong in the acquisition of the land.

 

Amali Ubangiri, the CEO of Adudu Prospective Mining Ltd., and Imap Mohammed, his associate, initially claimed that their company provided compensation to the affected farmers and also resettled them in new farming locations.

 

 

Mr Ubangiri said his company started its operations in the village five years ago and paid the appropriate compensation for every farmland it took. He also said the company is actively contributing to the development of the local communities, in line with its corporate social responsibility.

 

"We have always adhered to the regulations and guidelines set forth by the government, ensuring fair treatment and compensation for any farmland acquired for mining purposes. We have a legal mining license for Adudu and the Sarkin Adudu, His Royal Highness, Alhaji Abdullahi Mohammad Hassan, knows of our presence in the community."

 

When asked to provide details of how the compensation was paid to individual farmers like Mr Umar, Mr Ubangiri acknowledged that his firm did not make any direct payments to the displaced farmers.

 

"Indeed, we didn't provide direct compensation to the farmers, but we diligently fulfil our social responsibilities to the community. For instance, we have contributed to infrastructure development, including road construction in Adudu," Mr Ubangiri explains.

 

If no payment was made to the farmers, then who got the compensation? This question was put to Mr Ubangiri who simply insisted that his firm violated no law in acquiring the land it mines on.

 

The affected farmers said they wrote to the mining company and the local chief but got no response from either of them.

 

"We took the step of writing an official letter of complaint to Adudu Prospective Ltd., but unfortunately, we haven't received any response from them," Mr Umar said.

 

The chief of Adudu, Abdullahi Hassan, whom the farmers accused of conniving with the mining firm, said he acted for the benefit of the community. He said the land belongs to the community and he and other chiefs approved that it be given to the mining company, without compensation to the farmers.

 

"The decision to allocate lands to the mining company was made after carefully considering the potential benefits for our community. As community leaders, we are responsible for ensuring our people's progress and development.

 

"Some farmers were indeed using the lands for agriculture, but we believed that the mining activities would bring about a more significant transformation that could benefit a wider spectrum of people," he said.

 

Mr Hassan said the community plans to relocate displaced farmers to new farming locations.

 

"The presence of the mining company in the village has indeed brought about progress for us, so we must support it. However, we do have plans to relocate the displaced farmers to new farming locations. In the meantime, they may need to seek alternative employment to sustain themselves," he added.

 

The unheard cries of farmers in Toto

 

The situation in Adudu is similar to that in Toto, a town in Toto local government of the same Nasarawa State.

 

Many farmers in the local government were reluctant to speak about their situation.

 

 

After being rebuffed by at least six farmers, this reporter made a breakthrough during a chance encounter with an okada operator in the village. The motorcycle taxi operator, who asked not to be named for fear of reprisal from the village authorities, said he was a farmer until his farmland was seized in October 2020.

 

He said the community leader had granted some Chinese companies the right to exploit mineral resources on lands occupied by farmers.

 

"Before my land was taken, I grew crops like maize, cassava, and yams. It was a big farm because it gave my family enough food and some extra to sell. But in 2020, Sarkin said we should leave the land at the end of the farming season. That was in October 2020.

 

"That was how I became an okada rider. I had a sense of dignity as a farmer. I used to provide for my family without worrying about daily expenses but things are a lot different now."

 

A request for an interview with the Sarkin Yakin Toto, Mohammed Keche, was denied by his palace officials.

 

But his spokesperson, Ibrahim Ahmed, said the chief acted legally by supporting the takeover by the mining firms.

 

"The Sarkin is committed to the well-being of the community first before anything else. Any claims of farmland dispossession are baseless and unfounded. All the mining operations going on in Toto are legally carried out with the permission of the government and our sarkin," Mr Ahmed said.

 

When the reporter mentioned some of the farmers whose farmlands were taken, Mr Ahmed said the land never belonged to them.

 

Mining companies mum

 

At the mining site in Toto, this reporter saw extensive extraction of minerals. Two Chinese companies, "Wanwang Global" and "Lideal Mines Ltd.," were carrying out mining operations in Toto.

 

The companies had state-issued mining licenses and were conducting excavations for the exploration of solid minerals, particularly lithium, in Toto.

 

Officials of the two firms declined to speak with this reporter. The spokesperson for "Lideal Mines Ltd" declined to provide a statement, citing ongoing legal issues, while officials at "Wanwang Global" also declined comment.

 

Nasarawa's Minerals

 

The discovery of more minerals in different communities in Nasarawa now appears to be a curse to farmers in the state. Some of the minerals Nasarawa was known for include coal, bauxite and lead.

 

Sidikat Salau, the coordinator for the Initiative for Advancement of Mining, Earth Science, and Environmental Protection (IAMEEP), an NGO advocating sustainable practices in the extractives sector, said the region's wealth has been further enriched by the relatively recent revelation of significant Lithium deposits in the Toto area.

 

"In present-day Nasarawa, the concept of exclusivity regarding mineral titles is non-existent. Instead, it is the Sarkis, community kings, and chiefs who wield the power. They have expelled all the individuals holding legitimate licenses," she said.

 

"We have conducted a thorough analysis, and it has become evident that these Chinese companies, under the guise of sugar processing, are actually siphoning off one of the world's most precious minerals - lithium.

 

"Just last year, the value of lithium stood at a staggering $78,000 per tonne, and this cost is projected to soar even higher. The reason behind this meteoric rise is lithium's pivotal role in the production of electric vehicles, laptops, and mobile devices," she explained

 

Same story in other communities: "I was a farmer"

 

The situation in Adudu and Toto is not different from that of Agwatashi, in the same Obi LGA as Adudu, where this reporter met Sani Abubakar, another displaced farmer.

 

Mr Abubakar has a new job at a site where extracted solid minerals are undergoing cleaning and packaging. While he spoke, other workers were stacking the materials in cement bags for evacuation to the company's depot.

 

"I was a farmer until about a year ago. We heard about happenings in neighbouring villages (about land seizure for mining operations) but we never thought Agwatashi could be like those places," Mr Abubakar said.

 

He grew maize and sorghum and harvested between 50 and 65 bags of sorghum per farming season, he recalled.

 

"At first, it was all so difficult to accept. But I had to find a means to feed and support my family. Leaving Agwatashi was never an option; this is my home; my roots run deep here."

 

However, due to his new job at the mining site, Mr Abubakar appears to be happier than Mr Umar and the other farmers in Adudu.

 

"They pay me fairly well," he said of his new job where he does manual cleaning and bagging of freshly extracted solid minerals.

 

He said he prefers his life as a farmer, but the responsibility he owes to provide for his family is more vital than any sentiment.

 

The Riri situation

 

This reporter took a bike ride from Agwatashi to Riri, another village in Nasarawa where mining is also ongoing. Here, the displaced farmers said they had been fairly compensated for their seized farmlands.

 

Abdul Idris, one of the farmers, said the community leader handled the negotiations for compensation with the mining company.

 

"As farmers, we were not directly in contact with the mining company. Instead, all the arrangements were made through our community leader, and he provided the compensation."

 

Mr Idris did not disclose the amount he was paid but appears to be contented. Like other affected farmers in Riri, he has acquired a new plot of land in a different area and relocated there to resume his agricultural activities.

 

Nasarawa government concerned

 

Danlami Wada, a deputy director at the Nasarawa State Ministry of Mines and Steel Development, told PREMIUM TIMES that the pervasive disputes over land arising from mining activities in the state are a concern to the government and it is addressing the issue.

 

"We aim to strike a balance between harnessing our mineral resources for economic growth and safeguarding the interests of our communities, especially the farmers who have relied on these lands for generations," Mr Wada said.

 

He said the government has measures to ensure that mining activities do not jeopardise the well-being of local communities. However, the government is not involved in settlements or compensations between farmers and mining companies, he said.

 

"We have no say in compensations and resettlements of affected farmers unless the cases are reported to us."

 

However, Mr Wada said his ministry has been working to create awareness among mining companies about the importance of community engagement, fair compensation and sustainable practices.

 

He urged farmers to come forward and report any injustice or issue they face due to mining operations.

 

Food Security

 

If the situation in Adudu, Toto, and Agwatashi persists and spreads to other states rich in minerals, it can worsen Nigeria's already dire food situation.

 

About 25 million Nigerians are at risk of starvation, according to UNICEF, due to various issues such as insufficient food production and insecurity.

 

Attah Ademu, an agricultural economist, said farmland grabbing has a broader implication on food security. He said the loss of farmlands disrupts local food production, leading to increased reliance on imported goods and higher food prices. This, in turn, affects the most vulnerable populations, pushing them further into poverty and food insecurity.

 

"Smallholder farmers constitute a significant proportion of all farm holdings in the country. And in turn, many of us living in the urban parts of the country depend on these people for our food. Almost 80 per cent of the food we enjoy comes from these small-scale farmers," he said.

 

"So what do you expect to happen when you dispossess them of their farmland and sole livelihood? It will worsen poverty and put more people at risk of food insecurity."

 

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

 

-Premium Times.

 

 

 

 

Kenya: Why World Coin Operators Haven't Been Arrested - Interior Cabinet Secretary Kindiki

Nairobi — Interior Cabinet Secretary Kithure Kindiki was on Thursday put to task to explain why the owners of Tools for Humanity, the parent firm for World Coin have not been arrested despite their contravening the law.

 

The National Assembly Adhoc committee members questioned why the World Coin Project founders were not put behind bars pending the conclusion of the investigation arguing that preliminary findings show they violated the law.

 

Kindiki however explained the undertaking of the United States government to collaborate with the government to ensure the American firm owners are brought to book once found guilty halting their impending arrest.

 

 

"They tried to leave the country but were stopped and put in custody but the US government intervened saying they would be allowed to leave because they haven't yet been found guilty but gave an undertaking that it will produce them when required," he said.

 

The Interior Boss assured no stone will be left unturned in ensuring culpable government officials and those in the private sector involved in abetting the World Coin Project outside the law are held to account.

 

Investigative agencies have recovered 48 orbs, electronic devices, and merchandise related to Worldcoin operations in the country.

 

Various documents have been retrieved and statements from 26 witnesses and individuals of interest have been recorded.

 

"Anyone in government or out of government, in private sector or public sector who its established aided, supported, encouraged or even attempted to support any of those things in relation to world coin, we will hold them accountable," Kindiki said.

 

 

Kindiki warned against taking action before the conclusion of the investigation by relevant government agencies as well as Interpol denying the allegation that the government shielded the owners of World Coin and its activities in the country.

 

"No one is immune, nobody is excluded, if you ae found on the wrong side of the law, action will be taken, even if it's me as the security minister I will take responsibility," he noted.

 

Manyatta MP John Mukunji questioned why arrests were still pending despite glaring violation of the law by the World Coin Project operators saying the pending arrests might lead to mistrust from Kenyans.

 

"Could we have some arraigned in court because even before the conclusion of the investigation we know already the law was broken and Kenyans were misused. Are we still in that part of the investigation until the public is not following keenly," Mukunji said.

 

 

"We are here arresting people who have committed small crimes like stealing Chicken.But what about these people who have committed bigger crimes,when they were here smirking at us,"Kisumu East Shakiir Shabir said.

 

Homabay Town MP Peter Kaluma added:"These people were here walking freely. Why are we applying the law selectively on something so clear. Why are the law enforcement agencies not acting even the law clear on matters mentioned,"

 

Retrieving Data

 

The Interior Cabinet Secretary remained non-committal on whether the data captured from Kenyans can be retrieved saying government experts have given two conflicting opinions on the matter.

 

"We are getting two conflicting expert opinion because this is science and its not black and white. From one side, the experts are saying that data can be retrieved and deleted. There's a different opinion saying even when deleted can be retrieved," he said.

 

"Do we think we stand a chance on retrieving Kenyans data collected by the Worldcoin Project?"posed the Chair of the ad-hoc committee Gabriel Tongoyo.

 

Kindiki explained that the scanning of the iris was one of the most intrusive methods of collecting data pointing out that experts have elaborated that the biological consequences of the method could be life threatening.

 

"Yes, but we need to do a lot of work and jealousy guard because as i had said data is very precious and the nature in which the data in question was harvested was extreme, its allowed yes but the nature in which a foreign company harvested that data, we need to more rigorous," Kindiki said.

 

In addition, Kindiki warned that allowing the use of cryptocurrency might lead to money laundering and financing of terror activities due to the opaque nature of the cryptocurrency operations.

 

With the absence of a legal framework guiding the usage of cryptocurrency. He said the grey areas on its usage might pose more economic and security risks.

 

"I need to be convinced as a security minister, that if there are grey areas and we can't pinpoint the owners of the money and how they have made that money at the crypto trade level until the money finds its way into a financial institution," he said.

 

-Capital FM.

 

 

 

 

South Africa: Hundreds Queue in Cape Town City Centre in Hope of a Job

Hundreds of jobseekers queued on Wednesday in the hope of work in a call centre in Cape Town's city centre.

 

The queue snaked around the block in two directions from the Media24 building. People in the queue, most of them young, said they had heard that digital company EXL, which has offices in the building, was holding an "open day" and jobseekers could bring in their CV.

 

Some said they had been there for hours.

 

Some people in the queue said they had already worked in call centres - one 22-year-old said she had started work at 16. Others had no call centre experience or no work experience at all.

 

 

Twenty-four-year-old Amanda Mila from Gugulethu was clutching a brown envelope with her CV. She said she currently worked night shift at another call centre in Goodwood but the company was shutting its doors at the end of October.

 

"I have been standing here for almost two hours and I have hardly moved," said Mila, mother of a seven-year-old boy. "I am not too concerned about the salary, I will just be happy to be employed and have money at the end of each month."

 

Sinegugu Mthamo, 25, from Nyanga, said he had been looking for a job since he finished high school. He said he had heard that call centre work did not need much experience. "I arrived here around 9am and I am hoping I will be one of the people who gets a chance to submit my documents because I don't have money to travel back here again tomorrow."

 

"To me this job offer is a temporary solution rather than a long term career path," said another woman in the queue, a recent graduate with an education degree from Fort Hare. She said she hoped for a job to meet her basic needs.

 

In March 2023, the Quarterly Labour Force Survey (QLFS) found the unemployment rate was just under 33%. If discouraged work seekers are taken into account, more than 40% of the workforce was unemployed.

 

Youth unemployment remains the most acute: more than 62% of 15-24-year-olds and more than 40% of 25-34-year-olds were unemployed at the beginning of the year.

 

South Africa has one of the highest rates of youth unemployment in the world. But call centre work has seen "exceptional growth" over the past decade according to an industry report for 2021 .

 

Shingirai Manyengavana and Sergio Manjon contributed to this report.

 

-GroundUp.

 

 

 

 

Kenya: High Court Ruling On Finance Act 2023 Set for November 24

Nairobi — Kenyans will know the fate of the contested Financial Act 2023 on November 24, 2023, when a bench appointed by the Chief Justice Martha Koome will deliver its judgement.

 

The judges, justice David Majanja ( presiding) justice Christine Meoli and Lawrence Mugambi concluded the hearing of 12 petitions challenging the enactment of the Finance Act.

 

The contested issues as ably submitted by lawyers representing the petitioners includes, housing levy, the process in which the bill produced before parliament.

 

Other issues as eloquently submitted by senior counsels' Otiende Amolo, Okong'o Omogeni, professor Elijah Ongoya and George Odinga includes 22 provisions out of 84 that were tabled before the house which they said were not deliberated before the house committees.

 

 

The lawyers also submitted that there was no public participation as provided for by the constituition.

 

However the issues raised by the petitioner's were responded to by the solicitor general Shadrack Mose, professor Githu Muigai ,Mahat Somane and Charles Mutinda.

 

They pointed out that the contested Finance Act underwent the normal process and was duly passed by parliament.

 

They said that public participation was done and consequently tendered evidence to support their case.

 

They urged the bench to dismiss the petitions with costs.

 

The court will also endeavour to deliver ruling as to whether energy Petroleym Regulation Authority director Daniel Kiptoo will be sent to jail for contempt of court.

 

The application of contempt was argued by kakamega senator Okiya Omtatah on grounds that the MD was served with a court order on July 3rd, suspending any increment of petroleum..

 

The MD proceeded to issue a notification for increment of petroleum on the material day.

 

-Capital FM.

 

 

 

 

 

Workers start strike at US motor industry giants

More than 10,000 staff at three of biggest US carmakers have started strike action, their union says.

 

Work has been stopped at three plants owned by General Motors (GM), Ford and Stellantis.

 

It came after labour contracts expired on Thursday night. The United Autoworkers Union (UAW) said the firms had not put forward acceptable offers.

 

The fight threatens to trigger higher prices for buyers and major disruption for the motor industry giants.

 

The UAW's president Shawn Fain told the BBC it was now up to the companies to resolve the dispute.

 

"When they start taking care of their workers it will end," he said.

 

The strike started at midnight eastern time (04:00 GMT) at GM's Wentzville, Missouri mid-size truck plant, Ford's Bronco plant in Michigan and the Jeep plant in Toledo, Ohio owned by Stellantis.

 

The plants are critical to the production of some of the "Detroit Three's" most profitable vehicles.

 

Other facilities will continue to operate, the UAW said but it did not rule out broadening the strikes beyond the initial three targets.

 

With the deadline looming on Thursday, the White House said that President Joe Biden had spoken on the phone with Mr Fain about the negotiations but provided no further details.

 

The union had sought a 40% pay increase for its roughly 140,000 members over four years, noting a comparable rise in pay for company leaders.

 

Other demands included:

 

a four-day working week

the return of automatic pay increases tied to inflation

stricter limits on how long workers can be considered "temporary" staff who do not receive union benefits

The UAW's proposals would more than double its US labour costs, Ford said in a statement.

 

Last month, 97% of the union's members voted to authorise a strike.

 

Workers said the companies could afford to be more generous after years of record profits.

 

"In my opinion we are owed this," said Paul Raczka, who works in a Stellantis factory in Michigan making Jeep Grand Cherokees.

 

The fourth generation in his family to work in the industry, Mr Raczka said such jobs, which came with good healthcare and secure pensions, had provided an "awesome living" for his parents - a way of life that no longer feels possible today.

 

The 31-year-old said he could not even afford to buy the car he makes.

 

"We are still sitting on the backburner while these CEOs are making, you know, upwards of $20m a year," he said.

 

Jim Farley, chief executive of Ford, told reporters earlier this week that he hoped to avoid a strike but there was a limit to what the company was willing to concede.

 

"We have to protect the sustainability of the company," he said.

 

A 10-day strike could the three firms nearly $1bn (£800m) and workers almost $900m in lost wages, according to estimates by the Anderson Economic Group. It said the total hit to the economy could amount to more than $5bn.

 

Tyler Theile, vice-president at the firm, said a stoppage would have to be "pretty lengthy to move the needle on national economic indicators."

 

UAW president Shawn Fain declined the traditional handshake with company executives at the start of negotiations

Coming into the strike, the supply of cars, which has been strained since the parts shortages of the pandemic, remains far lower than it has been in the past.

 

Analysts said that could also mean a prolonged walkout leads to higher prices for buyers.

 

Ford, GM and Stellantis together account for about 40% of US car sales, though their share has dropped sharply over the last quarter of a century, as foreign firms such as Toyota make inroads.

 

The last time the car industry faced a strike was in 2019, when workers at GM walked off the job for six weeks.

 

GM worker Jessie Kelly, who participated in that walkout, said she had been trying to save up in anticipation of another stoppage.

 

UAW participants are due to receive $500 in weekly strike benefits from the union, but that would still be significantly less than her wages, she said.

 

"My strike bills will not cover my mortgage, let alone the grocery bills, let alone the lights and the everything else. So it is gonna definitely be a struggle," she said.

 

Ms Kelly, who lives near Detroit, said she supported the fight, despite the costs, noting that her pay has not kept pace with rising prices and is quickly eaten up by childcare and housing expenses. The 33-year-old said she had just two weeks of holiday a year, which she was typically forced to use for emergencies.

 

"At the end of the day, we all want to work for a corporation that is making good money. We just want our fair share of that," she said.

 

"The CEOs are gonna keep paying themselves more and more money and we're the only ones being left behind."-bbc

 

 

 

 

Taiwan tells Elon Musk it is 'not for sale'

Taiwan has told billionaire Elon Musk it is "not for sale" after he said the island was a part of China.

 

"Listen up, Taiwan is not part of the PRC [People's Republic of China] & certainly not for sale!," foreign minister Joseph Wu said on Mr Musk's X.

 

At a business summit this week, Mr Musk compared Taiwan to Hawaii, calling it an "integral part" of China.

 

Beijing claims self-governed Taiwan and tensions between the two have ratcheted up over the past year.

 

Just this week, China conducted air and naval drills around Taiwan, in what has become a routine show of military might around the island. Taiwan said that it had detected more than 40 Chinese military aircraft and about 10 ships in its waters.

 

This is not the first time that Mr Musk, who has business interests in China, has angered Taiwan's government with his comments. In October, he suggested that tensions between Beijing and Taipei could be resolved by giving China some control over Taiwan.

 

He said then in an interview with the Financial Times that he believed the two governments could reach a "reasonably palatable" arrangement. China's ambassador to the US had praised Mr Musk but his Taiwanese counterpart said something similar to Mr Wu - that freedom is "not for sale".

 

What's behind China-Taiwan tensions?

What is on the agenda at crucial US-China talks?

Mr Wu also posted on X: "Hope Elon Musk can also ask the CCP [Chinese Community Party] to open X to its people." Mr Musk's micro-blogging platform X, formerly known as Twitter, is banned in China.

 

Mr Wu had previously said that China's military drills were intended to influence Taiwan's elections in January.

 

"The PRC [People's Republic of China] has made it clear it wants to shape Taiwan's coming national election. Well, it's up to our citizens to decide, not the bully next door," he wrote on X.

 

Mr Musk's electric car maker Tesla has a large manufacturing plant in Shanghai and he most recently visited the country in May. He met top Chinese officials and the Chinese foreign ministry said that Tesla was willing to expand its business in the country.

 

His visit drew much attention given relations between China and the US have plummeted in recent years. Despite resuming high-level dialogue, the two countries still disagree on a range of issues, including Taiwan, which has emerged as one of the biggest flashpoints between them. The US has long been Taipei's chief ally.-bbc

 

 

 

 

 

Eurozone interest rates raised to all-time high

Eurozone interest rates have been hiked to a record high by the European Central Bank (ECB).

 

The bank raised its key rate for the 10th time in a row, to 4% from 3.75%, as it warned inflation was "expected to remain too high for too long".

 

The latest increase came after forecasts predicted inflation, which is the rate prices rise at, would be 5.6% on average in 2023.

 

But the ECB signalled that Thursday's hike could be the last for now.

 

"The governing council considers that the key ECB interest rates have reached levels that, maintained for a sufficiently long duration, will make a substantial contribution to the timely return of inflation to the target," the bank said.

 

It added that it expected inflation in the 20-nation bloc to fall to around 2.9% next year and 2.2% in 2025.

 

As in other parts of the world, the eurozone has been hit by rising food and energy prices that have squeezed household budgets.

 

What are interest rates? A quick guide

Central banks have been increasing interest rates in an attempt to slow rising prices.

 

The theory behind increasing rates is that by making it more expensive for people to borrow money, they will then have less excess cash to spend, meaning households will buy fewer things and then price rises will ease. But it is a balancing act as raising rates too aggressively could cause a recession.

 

Interest rates in the UK are currently higher than in the eurozone at 5.25%, but UK inflation is also higher at 6.8%, and the Bank of England is expected to raise rates again next week.

 

The ECB said it was determined to see inflation fall to its 2% target in a "timely manner".

 

However, policymakers admitted they had lowered their economic growth projections for the bloc "significantly" due to the impact of higher rates.

 

Economists at Pantheon Macroeconomics said the ECB's communication around its latest decision was a "clear indication" that rates would not rise further.

 

"We now see a high bar for anything other than a holding operation in the October and December meetings," they said.

 

"Looking further ahead, we still see a narrow window for rate cuts next year, though there is no way that you can get the ECB to even contemplate that scenario at this point."

 

ECB president Christine Lagarde did not rule out further rate rises, but said the "focus is going to move, going forwards, to the duration, but that is not to say - because we can't say that now - that we are at peak".

 

In June, revised figures showed the eurozone fell into recession last winter. Revised data from Germany - Europe's largest economy - contributed to the economic slump.

 

A recession is generally defined as when an economy shrinks for two three-month periods, or quarters, in a row. A contracting economy can be bad news for businesses and result in job losses.-bbc

 

 

 

 

French iPhone 12 warning: European regulators examine alert on radiation levels

Several European countries say they will examine concerns the iPhone 12 is emitting too much electromagnetic radiation, after France ordered Apple to stop sales.

 

Belgium, the Netherlands and Germany are now also looking into the issue.

 

France's regulator has given the tech giant two weeks to respond to its probe, which German authorities say could lead to Europe-wide measures.

 

Apple said it had provided proof it was complying with radiation regulations.

 

France's National Frequencies Agency (ANFR) said on Tuesday that radiation tests on the iPhone 12 had come back higher than allowed.

 

The halt on French sales "could have a snowball effect", French digital economy minister Jean-Noël Barrot told the Le Parisien newspaper. The ANFR will now share its findings with regulators in other EU member states.

 

The Belgian government has instructed its regulator to review whether the iPhone 12, first released in 2020, poses health risks.

 

"It is my responsibility to react and ensure that all citizens of the kingdom are safe and protected from any potential danger. Health is an issue that should never be neglected," said Belgian state secretary for digitalisation Mathieu Michel.

 

He told Le Soir he had asked the regulator to examine all Apple models, followed by other brands.

 

The Dutch digital infrastructure agency (RDI) said that based on the French tests there was no doubt radiation levels had been exceeded. The RDI said it would contact Apple but added there was "no acute safety risk".

 

Germany's BNetzA network agency told the BBC the French investigation could lead to measures that would apply to all EU members states.

 

The UK has not announced any action following the French ban.

 

Apple said it was contesting the French findings, adding that it had provided the ANFR with lab results from the tech giant itself and third parties, which it said showed the device was compliant with regulations.

 

France's digital economy minister said he expected Apple to be able to fix the issue via a software update.

 

If that approach was unsuccessful, Apple would have to recall every iPhone 12 sold in France, the ANFR said.

 

The regulator looks at two radiation tests: the first measures a phone in close contact with a person's body, such as when it is held or placed in a trouser pocket; the second test is done at a slightly larger distance, simulating a phone in a jacket pocket or a bag.

 

The iPhone 12 passed the second test but exceeded the levels set in EU regulations for the first, the ANFR said.

 

The watchdog said it would check Apple stores and other distributors to make sure they had stopped selling the model.

 

Smartphones have been pulled from shops in France because of radiation tests before, but this is the first time an iPhone was affected.

 

The World Health Organization says a large number of studies have been performed over the years to assess possible health risks from mobile phones.

 

"To date, no adverse health effects have been established as being caused by mobile phone use," it says on its website.-bbc

 

 

 

 

France's Carrefour puts up 'shrinkflation' warning signs

French supermarket Carrefour has put stickers on its shelves this week warning shoppers of "shrinkflation" - where packet contents are getting smaller while prices are not.

 

Lipton Ice Tea, Lindt chocolate and Viennetta ice cream are among the products being named and shamed.

 

Shoppers are being told if bottles are smaller or pack contents lighter.

 

Carrefour said it wanted to put pressure on the firms making the products to keep prices down.

 

"Obviously, the aim in stigmatising these products is to be able to tell manufacturers to rethink their pricing policy," said Stefen Bompais, director of client communications at Carrefour.

 

Carrefour has identified 26 products that have shrunk, without a price reduction to match, made by food giants including Nestle, PepsiCo and Unilever.

 

Carrefour said Guigoz infant milk formula produced by Nestle had gone from a pack size of 900g to 830g, for example.

 

A bottle of sugar-free peach-flavoured Lipton Ice Tea, produced by PepsiCo, shrank to 1.25 litres from 1.5 litres, the supermarket said.

 

Viennetta, made by Unilever, has shrunk from 350g to 320g.

 

Carrefour, France's second-biggest grocer, is highlighting the products in question with signs on the shelves reading: "This product has seen its volume/weight fall and the effective price charged by the supplier rise."

 

Unilever, Pepsico and Nestle have not commented on Carrefour's move.

 

French retailers and food manufacturers have come under pressure to reduce prices, just as in the UK, as shoppers struggle with sharply rising prices.

 

In June, French Finance Minister Bruno Le Maire summoned 75 retailers and consumer groups to a meeting about prices, and has accused manufacturers of not toeing the line on inflation.

 

British consumer groups have also warned of "shrinkflation" affecting the value of common items from cat food to chocolate biscuits.

 

But it is unlikely that UK supermarkets would follow in Carrefour's footsteps, according to retail expert Ged Futter, because the strategy risks "poisoning" relationships between retailers and food firms.

 

"This is a very blunt way of of trying to compete," he said. "To do that with your manufacturers, it won't help."

 

Supermarkets use the same "shrinkflation" tactic with their own-label products, he added, aiming to keep to a certain price point, for example £1, by introducing cheaper ingredients, or making portions smaller to manage rising costs.

 

Given that, calling out brands for doing the same thing would be "people in glass houses throwing stones", he said, and would risk accusations of hypocrisy.

 

A spokesperson for Lindt & Sprüngli, another brand identified by Carrefour for shrinking its products, said its prices had gone up on average by about 9.3% in line with rising raw material costs.

 

But information about product size was always made clear, the spokesperson said.

 

"We always comply with the labelling laws and regulations requiring objective information about how much product is in the package, including a net weight statement, a serving size, and a servings-per-container statement.

 

"Consumers can use this information to make accurate and informed purchasing decisions about the amount of product they are buying."-bbc

 

 

 

 

 

 

 

 

 

 

 


 


 


Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of Faith Capital (Pvt) Ltd for general information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities. The information contained in this report has been compiled from s believed to be reliable, but no representation or warranty is made or guarantee given as to its accuracy or completeness. All opinions expressed and recommendations made are subject to change without notice. Securities or financial instruments mentioned herein may not be suitable for all investors. Securities of emerging and mid-size growth companies typically involve a higher degree of risk and more volatility than the securities of more established companies. Neither Faith Capital nor any other member of Bulls ‘n Bears nor any other person, accepts any liability whatsoever for any loss howsoever arising from any use of this report or its contents or otherwise arising in connection therewith. Recipients of this report shall be solely responsible for making their own independent investigation into the business, financial condition and future prospects of any companies referred to in this report. Other  Indices quoted herein are for guideline purposes only and d from third parties.

 


 

 


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