Major International Business Headlines Brief::: 05 December 2024
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Major International Business Headlines Brief::: 05 December 2024
<mailto:info at bulls.co.zw>
ü South African Airways Pilots to Protest Over Pay
ü Niger Military Junta Seizes Control of French Uranium Operations
ü Uganda: Minister Musasizi Launches Capital Markets Forum to Boost Economic Growth
ü Uganda: Museveni Urges Peace, Water Access, and Agriculture in Karamoja
ü Uganda: Minister Musasizi Launches Capital Markets Forum to Boost Economic Growth
ü Uganda: Museveni Urges Peace, Water Access, and Agriculture in Karamoja
ü Nigeria: Global Internet Usage Continues to Rise Amid Disparities in Low-Income Regions
ü Africa's Civic Space Remains Mostly Repressive - Report
ü Tanzania: How an App Transformed Farming for Rural Tanzanian Women
ü Uganda's Oil and Gas Sector Fuels Economic Growth
ü Angola: Multilateral Summit On Lobito Corridor Kick Off
ü Nigeria: Billions Lost, As Fire Razes Market, Shops in Yobe, Kwara, Taraba
ü Angola: Biden Wraps Up Angola Trip With Drought Aid and Mega Railway Drive
<mailto:info at bulls.co.zw>
South African Airways Pilots to Protest Over Pay
South African Airways (SAA) pilots are set to protest outside the airline's Airways Park offices in Kempton Park on Thursday morning, calling for a 15.7% salary increase and additional benefits, reports EWN. The company, however, has countered with an offer of 8.46%, saying that the pilots' demands could jeopardize its financial recovery and lead to bankruptcy. SAA, which underwent business rescue from 2019 to 2021, recently achieved its first profit in over a decade and has become debt-free. Pilots argue they endured substantial pay cuts, salary stagnation, and deteriorating working conditions during the airline's financial turmoil. Both parties remain committed to finding a fair resolution, while SAA has implemented contingency plans to minimize service disruptions.
Durban Taxi Strike Causes Gridlock, Police Urge Negotiations
KwaZulu-Natal Police Commissioner Nhlanhla Mkhwanazi has called on striking taxi associations in Durban to stop disrupting commuters and direct their grievances to the appropriate authorities, reports SABC News. The Durban Long Distance Taxi Association has been protesting over issues with permits and vehicle impoundments by the Department of Transport since last week. The strike has caused significant traffic congestion, including blockades on the N3 highway. Mkhwanazi condemned the disruptions, stating that they infringe on commuters' rights to free movement.
Lead Investigator in Senzo Meyiwa Case Alleges Cash Payments
Brigadier Bongani Gininda, the lead investigator in the Senzo Meyiwa murder trial, testified that he believes the accused were paid in cash by Kelly Khumalo to kill the former Bafana Bafana captain, reports SABC News. Meyiwa was fatally shot in 2014 at Khumalo's family home in Vosloorus, Gauteng. Five men are currently on trial in the North Gauteng High Court. Under cross-examination by defense lawyer Advocate Zithulele Nxumalo, Gininda confirmed there is no electronic evidence linking payments from Khumalo to the accused. He said, "The payments that we are aware of were made in cash," despite a lack of bank records to support the allegations.
More South African news
Niger Military Junta Seizes Control of French Uranium Operations
French nuclear group Orano has announced that authorities in Niger have taken "operational control" of its uranium mining unit, in an escalating conflict between the company and the country's ruling junta.
The junta, which took power in a coup in July last year, has vowed to revamp regulation of the mining of raw materials by foreign companies.
In June, authorities withdrew Orano's permit to exploit one of the largest uranium deposits in the world, Imouraren - which holds an estimated 200,000 tonnes of the mineral. Niger is the world's seventh-largest uranium producer.
By late October, the French group had suspended production by its local unit Somair, in the northern Arlit region, due to what it termed increasingly difficult operating conditions and financial issues.
The company has also criticised the impossibility of exporting uranium, since Niger closed its border with Benin for what Niamey says are security reasons.
Orano holds a 63.4 percent stake in Somair, while the Nigerien state owns 36.6 percent.
In a statement released on Wednesday, the French group said: "For several months, Orano has been warning of the interference that the group has been suffering in the governance of Somair. The decisions taken at the company's board meetings are no longer being applied and, as a result, Orano is today confirming that the Nigerien authorities have taken operational control."
This latest clash between the junta and Orano - majority owned by the French state - comes as Niger downgrades links with its former colonial power France, and strengthens ties with Russia and Iran.
Last month, Nigérien Mining Minister Ousmane Abarchi invited Russian firms to invest in uranium and other natural resource production in the country.
Niger embraces Russia for uranium production leaving France out in the cold
'Heavy burden on employees'
Orano said Somair's board had decided on 12 November to suspend expenses related to production activities "in order to prioritise the payment of salaries and preserve the integrity of the industrial facilities".
But days later, a delegation of the regime's advisers visited the Somair mines in Arlit to encourage work there to continue - a move that prompted Orano to declare enforcement of the board's decision "is being deliberately prevented".
"The production expenses which continue to be incurred on the site are worsening the company's financial situation with every passing day," its statement said.
It added that "representatives of Niger" defended their position at a board meeting on Tuesday, "in particular confirming their refusal to export the production".
French nuclear giant slips into the red following Niger-French breakup
A total of 1,150 tonnes of uranium concentrate from 2023 and 2024 stocks - the equivalent of almost half of annual production in Arlit - are being blocked, according to Orano - stocks worth around €200 million.
"Orano expresses its deepest regret regarding the evolving situation which is placing a heavy burden on the employees and local communities," the company said. "Orano intends to defend its rights before the competent bodies, and reaffirms its belief that only a united effort by all stakeholders to re-establish a stable and sustainable mode of operation can allow Somair to resume activities in peace."
RFI website.
Uganda: Minister Musasizi Launches Capital Markets Forum to Boost Economic Growth
The forum drew inspiration from Nigeria's Financial Market Dealers Quotation Group model, a testament to the potential of well-structured financial systems in fostering economic development.
The State Minister of Finance, Henry Musasizi, has inaugurated the Capital Markets for Economic Development Forum, a platform designed to explore how capital markets can drive Uganda's economic growth.
The event, held at Serena Hotel in Kampala, brought together key stakeholders from the Capital Markets Authority, the Bank of Uganda, and the Ministry of Finance, Planning, and Economic Development.
The forum drew inspiration from Nigeria's Financial Market Dealers Quotation (FMDQ) Group model, a testament to the potential of well-structured financial systems in fostering economic development.
Delivering the keynote address, Minister Musasizi underscored the importance of bold leadership, collaboration between the public and private sectors, and robust policies to propel Uganda's development.
"The forum highlights the critical role that capital markets can play in unlocking sustainable, inclusive growth, particularly in sectors such as agro-industrialisation, tourism, and technology," Musasizi said.
He further noted that leveraging capital markets would help Uganda attract vital investments, generate employment, and fuel economic growth.
"The ultimate goal is to harness the potential of capital markets to drive economic transformation and improve the lives of Ugandans," the minister added.
Key areas of focus during the forum include mobilizing patient capital, strengthening agro-industrialisation, enhancing tourism, advancing technology, and improving regulatory frameworks.
As discussions unfold, participants are engaging in thought-provoking sessions to share insights, address challenges, and explore innovative solutions for strengthening Uganda's capital markets.
The forum represents a significant step in positioning capital markets as a cornerstone for Uganda's economic transformation.
Nile Post.
Uganda: Museveni Urges Peace, Water Access, and Agriculture in Karamoja
President Yoweri Museveni has stressed the need for peace and water access as foundational priorities for the development of the Karamoja subregion.
Speaking during a meeting with regional leaders in Moroto, the President addressed their concerns presented in a memorandum and reaffirmed the government's commitment to integrated planning as a pathway to sustainable development.
"Karamoja needs to prioritize peace and access to water before addressing other issues," President Museveni said, emphasizing that stability and essential resources are prerequisites for progress in other sectors.
The President also highlighted the critical role of agriculture in creating employment and fostering self-reliance.
"Agriculture can provide employment for many people, allowing everyone to participate," he noted, reiterating the National Resistance Movement's (NRM) focus on integrated approaches to development.
Karamoja, a semi-arid region in northeastern Uganda, has faced persistent challenges, including insecurity, water scarcity, and underdevelopment.
Efforts to disarm local communities and foster peace have seen progress in recent years, but access to water remains a pressing issue for both human consumption and agricultural activities.
President Museveni's meeting with local leaders in Moroto reflects his administration's commitment to addressing these challenges through dialogue and collaboration.
As part of his tour of the subregion, President Museveni is scheduled to address a rally in Kotido, where he is expected to outline the government's strategies for advancing peace, development, and agricultural productivity in Karamoja.
This visit underscores the government's ongoing focus on ensuring that no region is left behind in Uganda's development agenda.
Nile Post.
Uganda: Minister Musasizi Launches Capital Markets Forum to Boost Economic Growth
The forum drew inspiration from Nigeria's Financial Market Dealers Quotation Group model, a testament to the potential of well-structured financial systems in fostering economic development.
The State Minister of Finance, Henry Musasizi, has inaugurated the Capital Markets for Economic Development Forum, a platform designed to explore how capital markets can drive Uganda's economic growth.
The event, held at Serena Hotel in Kampala, brought together key stakeholders from the Capital Markets Authority, the Bank of Uganda, and the Ministry of Finance, Planning, and Economic Development.
The forum drew inspiration from Nigeria's Financial Market Dealers Quotation (FMDQ) Group model, a testament to the potential of well-structured financial systems in fostering economic development.
Delivering the keynote address, Minister Musasizi underscored the importance of bold leadership, collaboration between the public and private sectors, and robust policies to propel Uganda's development.
"The forum highlights the critical role that capital markets can play in unlocking sustainable, inclusive growth, particularly in sectors such as agro-industrialisation, tourism, and technology," Musasizi said.
He further noted that leveraging capital markets would help Uganda attract vital investments, generate employment, and fuel economic growth.
"The ultimate goal is to harness the potential of capital markets to drive economic transformation and improve the lives of Ugandans," the minister added.
Key areas of focus during the forum include mobilizing patient capital, strengthening agro-industrialisation, enhancing tourism, advancing technology, and improving regulatory frameworks.
As discussions unfold, participants are engaging in thought-provoking sessions to share insights, address challenges, and explore innovative solutions for strengthening Uganda's capital markets.
The forum represents a significant step in positioning capital markets as a cornerstone for Uganda's economic transformation.
Nile Post.
Uganda: Museveni Urges Peace, Water Access, and Agriculture in Karamoja
President Yoweri Museveni has stressed the need for peace and water access as foundational priorities for the development of the Karamoja subregion.
Speaking during a meeting with regional leaders in Moroto, the President addressed their concerns presented in a memorandum and reaffirmed the government's commitment to integrated planning as a pathway to sustainable development.
"Karamoja needs to prioritize peace and access to water before addressing other issues," President Museveni said, emphasizing that stability and essential resources are prerequisites for progress in other sectors.
The President also highlighted the critical role of agriculture in creating employment and fostering self-reliance.
"Agriculture can provide employment for many people, allowing everyone to participate," he noted, reiterating the National Resistance Movement's (NRM) focus on integrated approaches to development.
Karamoja, a semi-arid region in northeastern Uganda, has faced persistent challenges, including insecurity, water scarcity, and underdevelopment.
Efforts to disarm local communities and foster peace have seen progress in recent years, but access to water remains a pressing issue for both human consumption and agricultural activities.
President Museveni's meeting with local leaders in Moroto reflects his administration's commitment to addressing these challenges through dialogue and collaboration.
As part of his tour of the subregion, President Museveni is scheduled to address a rally in Kotido, where he is expected to outline the government's strategies for advancing peace, development, and agricultural productivity in Karamoja.
This visit underscores the government's ongoing focus on ensuring that no region is left behind in Uganda's development agenda.
Nile Post.
Nigeria: Global Internet Usage Continues to Rise Amid Disparities in Low-Income Regions
Report from the Facts and Figures 2024 presented by the International Telecommunication Union (ITU), has revealed that internet connectivity continues to increase worldwide, but revealed the complexities of reaching communities in low-income countries.
According to the report, an estimated 5.5 billion people are currently online in 2024, an increase of 227 million individuals based on revised estimates for 2023.
The report said while an estimated 68 per cent of the global population is now online, stubborn digital divides persisted, as about one-third of the world's people remained offline.
Giving details of the report, ITU Secretary-General, Doreen Bogdan-Martin, said: "Facts and Figures 2024 is a tale of two digital realities between high-income and low-income countries. Stark gaps in critical connectivity indicators are cutting off the most vulnerable people from online access to information, education and employment opportunities. This report is a reminder that true progress in our interconnected world isn't just about how fast we move forward, but about making sure everyone moves forward together."
The report showed that internet use remains tightly linked to the level of development.
In high-income countries, 93 per cent of the population is estimated to be using the internet in 2024. This contrasts with low-income countries where only 27 per cent of the population is estimated to be online.
Connectivity challenges also remain in the least developed countries (LDCs) where only 35 per cent of the population is estimated online and landlocked developing countries (LLDCs) with only 39 per cent online.
In total, an estimated 2.6 billion people are offline in 2024, accounting for 32 per cent of the world's population. This is down from the newly revised estimate of 2.8 billion for 2023, which represents 35 per cent of the population.
Director of ITU's Telecommunication Development Bureau, Cosmas Luckyson Zavazava, said: "The world is inching towards universal access at a time. While we continue to make progress on connectivity, our advances mask significant gaps in the world's most vulnerable communities, where digital exclusion makes life even more challenging. We must intensify our efforts to remove the barriers that keep people offline and close the usage gap, and renew our commitment to achieving universal and meaningful connectivity, so that everyone can access the internet."
Key findings of the report include: The world is moving slowly towards gender parity in internet use, as an estimated 70 per cent of men use the internet worldwide in 2024, compared with 65 per cent of women. Although there are 189 million more men than women using the internet, the report found that the world has been moving towards gender parity except in LDCs. (According to the revised estimates, an estimated 68 per cent of men and 63 per cent of women were using the internet in 2023.)
Another finding by the report is the lack of progress in bridging the urban-rural divide. Globally, an estimated 83 per cent of urban dwellers use the internet in 2024, compared with less than half of the population in rural areas (48 per cent). Of the estimated 2.6 billion people offline in 2024, 1.8 billion people live in rural areas.
Young people are more likely to use the internet, but the gap is shrinking, according to the report finding, which explains that worldwide, an estimated 79 per cent of people aged between 15 and 24 years, use the internet. This generational gap observed in every region, has been slowly shrinking over the last four years. According to the revised estimates, an estimated 77 per cent of people aged between 15 and 24 used the internet in 2023.
"Internet access continues to get cheaper, but affordability remains a challenge," the report further said. The cost of a fixed-broadband subscription in low-income countries is the equivalent of nearly a third of the average monthly income.
Globally, four out of five people over 10 years old own a mobile phone, the report said. It however said major differences existed between countries, as more than 95 per cent of people over 10 years old own a mobile phone in high-income economies, compared to only 56 per cent in low-income countries.
5G coverage is estimated to reach 51 per cent of the world population by the end of 2024, with significant disparities existing between high- and low-income countries. While 84 per cent of people in high-income countries are covered, 5G extends to only 4 per cent of those in low-income countries.
"The number of mobile-broadband subscriptions is approaching that of mobile-cellular subscriptions. While gains are being made, fixed broadband remains a luxury for many. Growth in internet traffic remains strong. However, the average monthly mobile broadband traffic per subscription in high-income countries of about 16.2 GB is about eight times higher than in low-income economies of about 2 GB," the report further said.
This Day.
Africa's Civic Space Remains Mostly Repressive - Report
Nairobi — Forty-three out of 50 countries and territories in sub-Saharan Africa have "restricted" or "shut down" civic spaces, according to a report released Wednesday by a global alliance of civil society organizations.
The annual report, titled "People Power Under Attack 2024," says civic space has improved over the past year in Botswana and Liberia, but gotten worse in Burkina Faso, Eswatini, Ethiopia and Kenya.
Conditions for civil society have deteriorated over the past year in nine countries, four of which are in Africa, and general civic space conditions in the African continent remain "repressive," according toCIVICUS, which tracks the state of civic freedoms of 198 countries.
Sylvia Mbataru, a human rights lawyer and CIVICUS researcher, said almost 900 million people in sub-Saharan Africa live in politically repressed societies.
"Almost 70 percent of the population in Africa south of the Sahara is now living within a repressed civic space," Mbataru said. "That means a big majority of the continent are not able to access their rights, are not able to speak out anymore, are not even able to engage in meaningful democracy efforts and governance efforts. So this is a really concerning figure to have."
Many governments in Africa have curtailed people's rights, the report says, and their security forces have committed violations against protesters, human rights defenders, and journalists.
Authorities are accused of disrupting peaceful protests by force, detaining demonstrators, and prosecuting human rights defenders, protesters and journalists.
Kenya's ranking was downgraded from "obstructed" to "repressed" due to the government crackdown on nationwide protests in June and July, which were sparked by a proposed finance bill that sought to raise taxes.
According to rights groups, more than 60 people were killed during the protests in Kenya and dozens more are missing. They blame the killings on Kenyan security agencies, a claim denied by the government.
Thirty-eight-year-old Edith Kamau lost her son during anti-tax protests in Kenya. She agrees with the report that her country's human rights record and civic space are not good, saying that no one -- rich or poor -- is safe and secure. Even well-to-do people are being abducted, she said, and the current president is not good for his people.
Kamau said her son's body was recovered from a government building, per a police report, but she and her family have yet to get justice.
The post-mortem report showed her son was shot at close range during the protests, and officers told her the weapons used were carried exclusively by special forces, but she said she has been kept in the dark about what really happened.
The CIVICUS report downgraded Burkina Faso's status from "obstructed" to "repressed." Eswatini and Ethiopia were downgraded from "repressed" to "closed," meaning authorities there tolerate almost no public dissent or demonstrations.
Despite many African countries restricting civic space, some are making progress in allowing political expression and defense of human rights.
According to the researchers, civic space and freedom are "open" in seven African countries, including Botswana and Liberia, which have improved their conditions in the past year.
Liberia witnessed a peaceful power transfer late last year, and CIVICUS says it noted fewer violations in press freedom and peaceful assembly areas.
In Botswana, the ruling party, which had governed the country since 1966, was voted out in the October presidential elections. Even before then, says CIVICUS, civil society groups were allowed to push back against proposed constitutional changes.
VOA.
Tanzania: How an App Transformed Farming for Rural Tanzanian Women
Kilimanjaro, Tanzania — In the sun-scorched soils of Moshi, where every drop of rain counts, two female farmers have defied the odds through technology. Mwajuma Rashid Njau and Mumii Rajab, once locked in a daily struggle to survive, have found a mobile phone their best ally.
For years, farming was a way of life they struggled to master. Their fields, a patchwork of red earth and wilting crops, symbolized hardship rather than prosperity. Pests came with the seasons, the soil quality deteriorated, and their harvests barely provided enough to feed their families. But now, a simple app--Kiazi Bora--has changed everything.
On a sweltering afternoon, Njau was out in the field, staring helplessly at the rows of wilting sweet potatoes ravaged by pests, when he realized things could be different. She had no idea how to stop it--until she opened the Kiazi Bora app on her phone.
"This app has changed everything," Njau, 38, says with a tired but hopeful smile. "I didn't know where to start, but now I can check my phone, and it tells me exactly what to do."
The Kiazi Bora app, designed specifically for small-scale farmers like Njau and Rashid, focuses on helping them grow nutritious orange-fleshed sweet potatoes (OFSP) to feed their families and earn income. The app offers simple instructions on planting and pest control to farmers with little education.
The app, Kiazi Bora ("quality potatoes" in Kiswahili), wasn't just another farming tool--it was powered by cutting-edge AI voice technology. And for the first time, it spoke their language.
Creating Kiazi Bora wasn't easy. Kiswahili, a language spoken by over 200 million people, presented unique challenges for AI developers. The problem? There simply wasn't enough high-quality voice data to train the technology.
"One of the biggest challenges has been the availability of diverse, high-quality data," said EM Lewis-Jong, Director of Mozilla Common Voice, a global project dedicated to making AI accessible to speakers of underrepresented languages.
"Kiswahili is a diverse language with many regional variants, and our tools are primarily designed for English, which complicates things further."
To solve this issue, SEE Africa, the nonprofit behind Kiazi Bora, turned to Mozilla's Common Voice platform. Unlike other AI data collection methods, which often rely on scraping the web or underpaid gig workers, Common Voice harnesses the power of community. "We use a crowd-sourced model where people voluntarily contribute their voice data," explained Lewis-Jong. "This ensures that the data reflects the true diversity of the language, including different accents and dialects."
This community-driven approach has already seen tremendous success. In Tanzania, the Kiazi Bora app is now used by over 300 women, empowering them with knowledge on how to grow and market their crops. "These women are learning in Kiswahili, their first language, which makes a huge difference," noted Gina Moape, Community Manager for Common Voice. "We've seen firsthand how access to information in their own language improves both their nutrition and their ability to participate in economic activities."
But Kiazi Bora is just one example of how voice-enabled technology can make a real impact.
For Mozilla, these projects reflect a broader vision: democratizing AI so that it serves everyone, not just speakers of dominant languages. "If data creation is left to for-profit companies, many of the world's languages will be left behind," said Lewis-Jong. "We want a world where people can create the data they need, capturing their language as they experience it."
That's why Mozilla's Common Voice is not just a tool but a movement. Its open-source platform allows communities to collect and contribute voice data that anyone can use, fostering local innovation across Africa. "We're particularly excited about the potential for African languages," Lewis-Jong added. "Our long-term vision is to integrate more African languages into global voice recognition technologies, and Common Voice is a critical part of making that happen."
For Rashid, 42, who had once lived in uncertainty, the app was a useful tool. "Before, I felt powerless," she recalls. "When pests attacked, I would just watch as my crops withered. Now, I can fight back. I know what to do."
Both women have honed their skills and improved crop yields. The app taught them how to manage soil health, optimize planting schedules, and handle pest outbreaks.
Their orange-fleshed sweet potatoes stand out in contrast to the dusty earth, a sign of resilience and renewal.
The duo, who were entangled in a cycle of poverty, now speak with pride about their success.
"We've learned to control our future," Njau says.
Through Kiazi Bora, Njau and Rajabu have unlocked opportunities to improve their livelihoods and break free from poverty.
Njau, who had to drop out of school when her family moved to a remote village, calls the app her "teacher." She explains, "I never completed school, but this app has taught me everything I need to know about farming. It's like a teacher that's always there when I need it."
The voice-enabled Kiswahili features make it user-friendly. "The app speaks to me in a language I clearly understand," Njau says.
Through the app, Njau and Rajabu learned how to process potatoes into flour and pastries, which fetch a higher market price.
Rajabu explains, "I didn't know you could make flour from sweet potatoes or that you could sell it for more money. Now, I have customers who buy the flour because it lasts longer than fresh potatoes." This new skill has allowed them to diversify their income.
In just a year, their income increased from zero to USD 127 per month. The extra income has enabled them to take care of their families, reinvest in their farms, and secure a better future. "With the money I've made, I've been able to send my children to school and even save some for emergencies," says Njau.
The potatoes, which are rich in vitamins, have helped them fight malnutrition in their communities. While neither Njau nor Rajabu had children with malnutrition, they both knew families who struggled with it. Thanks to the app, they now understand the importance of incorporating OFSP into their daily meals to ensure their children stay healthy.
Rajabu was quick to share the app with her relatives. "I told my sister about it, and now she's also growing OFSP. Her children are healthier, and she's even making money from selling sweet potato flour," she says proudly.
For both women, the app has empowered them as farmers, businesswomen and community leaders. "I feel confident now," Rajabu says. "This app has changed my life, and I know it can help other women like me."
Both Njau and Rajabu see immense potential for Kiazi Bora to help other rural women. They advocate for expanding the app beyond OFSP farming to include other crops like vegetables and edible roots, as this could further diversify their income streams and enhance food security in their communities.
"Women in rural areas need this technology," Rajabu emphasizes. "We need to make sure that we can feed our families and earn better incomes."
IPS UN Bureau Report
Uganda's Oil and Gas Sector Fuels Economic Growth
Kampala — Uganda's oil and gas industry is reshaping the nation's economy, presenting unparalleled opportunities for local businesses and individuals. However, stakeholders emphasize the need to tackle challenges in taxation, technology, and skills development to unlock the sector's full potential.
Since the Final Investment Decision (FID) in February 2022, TotalEnergies EP Uganda's workforce has grown from 3,200 to over 10,200, including contractors. Deputy General Manager Mariam Mbowa highlighted that 3,500 residents have secured jobs at Tilenga, underscoring the sector's significant community impact. TotalEnergies has also invested $10 million in training Ugandans, contributing to in-country value creation of $718 million by Q3 2024, with 270 local companies actively engaged.
Similarly, CNOOC Uganda Limited has trained 1,342 individuals in technical skills and supported 505 SMEs through supplier development programs. The company employs 2,507 Ugandans at the Kingfisher Development Area.
These milestones were celebrated at the 5th National Content Conference, themed "Advancing National Content in the Oil and Gas Sector: Three Years After FID," held at Speke Resort Munyonyo. The event, organized by the Petroleum Authority of Uganda (PAU) and the Uganda Chamber of Mines and Petroleum (UCMP), emphasized progress while addressing gaps in taxation, capacity building, and technology transfer.
PAU's Director of Economic and National Content Monitoring, Peninah Aheebwa, noted that projected investments of $2.9 billion in 2024 and $2.3 billion in 2025 would lay the foundation for an additional $15 billion over 15 years. Minister of Energy and Mineral Development Ruth Nankabirwa stressed the need to translate these investments into tangible benefits through employment, enterprise development, and skills transfer.
Thousands of jobs created
Currently, 14,451 people are directly employed in the sector, with 90% being Ugandans. Communities hosting oil and gas operations account for 4,483 of these jobs. The sector is projected to employ approximately 160,000 people at its peak.
Economic contributions are expected to surge as foundational infrastructure, such as the export pipeline, refinery, and processing facilities, is completed. The Uganda National Oil Company (UNOC) projects the refinery to add $3.4 billion annually to GDP, while the Kabalega Industrial Park is anticipated to contribute $4.9 billion annually, creating 32,000-35,000 direct and indirect jobs.
Taxes remains a big headache
However, challenges persist. UCMP CEO Humphrey Asiimwe called for an equitable tax regime, urging that Value Added Tax (VAT) be collected only upon payment to contractors to ease cashflow pressures. Pamela Natamba, Vice Chairperson of UCMP's Governing Council, stressed the importance of addressing skills gaps, regulatory hurdles, and capacity limitations while prioritizing joint ventures and technology transfer.
The UCMP is also exploring partnerships with emerging markets like Namibia and Mozambique to enable Ugandan companies to share expertise in local content development and regulatory compliance, fostering sustainable industries across Africa.
The conference concluded with an awards ceremony recognizing excellence in national content promotion. The launch of the Joint Qualification System (JQS) was another highlight, promising to streamline contracting processes and expand opportunities for Ugandan businesses.
Independent (Kampala).
Angola: Multilateral Summit On Lobito Corridor Kick Off
Luanda — The Multilateral Summit on the Lobito Corridor, which is attended by Presidents João Lourenço (Angola), Joe Biden (United States), Félix Tshisekedi (DRC), Hakainde Hichilema (Zambia) and the Vice President of Tanzania, Philip Mpango, started a moment ago in the city of Benguela.
In Benguela, the five leaders will meet at the facilities of the largest factory in the country, with an eye on accelerating the attraction of the necessary investments for the Lobito Corridor, which could connect the Atlantic and Indian Oceans.
The Lobito Corridor is a strategic route of great economic and logistical importance for Angola, neighboring countries and the Southern African region.
It connects the Port of Lobito, located on Angola's Atlantic coast, with the country's inland regions and landlocked countries such as the Democratic Republic of Congo (DRC) and Zambia.
This important corridor serves as an essential route for the export and import of goods, particularly minerals such as copper, cobalt, and other resources mined in the DRC and Zambia. It offers access to the global market, reducing logistics costs for these countries.
With continuous investments and international partnerships, the Lobito Corridor has the potential to become one of the main transport and trade hubs in Africa, it also stimulates the economic growth of Angola's inland provinces.
The United States has invested significantly in the Lobito Corridor, with a recent financial contribution of US$1.3 billion.
This amount was made official in May 2024, as part of agreements signed between the US and Angolan governments.
The funding is earmarked for three major corridor-related infrastructure projects, with a focus on transportation, renewable energy and connectivity
The Port of Lobito, which is an important infrastructure of the Lobito Corridor, is located in Benguela, province, and hence the choice of venue for the event.
In Benguela, US President Joe Biden, who has been in the country since Monday (Dec 2), will be on the last day of his 3-day working visit to Angola. SC/DOJ
-ANGOP.
Nigeria: Billions Lost, As Fire Razes Market, Shops in Yobe, Kwara, Taraba
Properties worth billions of naira have been lost in Yobe, Kwara and Taraba states after a fire incident razed down a market, shops and a lounge.
In Yobe State at least 200 people lost their means of livelihood, after fire razed 46 shops at Bayan Tasha Market in Damaturu Local Government Area of Yobe State.
The inferno, which started at about 2:30 am affected several shops in the market before the intervention of the state fire service personnel who later put out the fire.
Daily Trust gathered that lack of access roads within the market hindered rescue efforts before the intervention of firefighters.
The deputy governor of Yobe State, Hon Idi Barde Gubana, inspected the scene of the fire outbreak and attributed the cause of the midnight fire to an electrical fault.
"Preliminary investigation attributed this incident to electric fault. The total number of shops burned was 46 in number, 38 were permanent shops while 8 were temporary shops and over 200 people lost their means of livelihood.
"We thank God, no life was lost, Governor Mai Mala Buni, has directed me and other relevant stakeholders to critically analyse items lost by every individual, the government will do needful to assist them", he said.
At Ita Amodu market, Old Yidi road, Ilọrin properties worth millions of naira were destroyed.
The inferno, which occurred on Tuesday affected residents and traders that deals in mattresses, carpets, gum and other materials.
Speaking on the incident, the PRO of the state fire service, Hassan Adekunle, said they encountered a massive inferno, which originated from a lorry overloaded with mattresses when they arrived.
"The fire destroyed the lorry and spread to a nearby building containing 47 rooms and 19 shops.
"Despite the intensity of the blaze, our swift efforts to contain it prevent further destruction. 12 shops and 31 rooms were saved while 7 shops and 16 rooms were unfortunately affected", he stated.
Adekunle said "Investigations revealed that the fire originated from a lorry overloaded with mattresses that collided with a high-tension wire, causing a spark that ignited the mattresses.
Meanwhile, in Taraba, properties worth over a billion naira were said to have been destroyed during a fire incident at Duchess Lounge located opposite Jolly Nyame Stadium Jalingo.
Daily Trust gathered that the actual cause of the fire could not be ascertained however eyewitnesses said fire may have started as a result of sudden power surge and worsen by the harmattan wind.
The entire first floor of the lounge, comprising of the general club, VIP and VVIP sections were destroyed by the fire.
The owner of the lounge, Professor Joseph Albasu Kunini told our correspondent that the place has just undergone a comprehensive overhauling preparatory for the third anniversary on 30th of December. Daily Trust.
Angola: Biden Wraps Up Angola Trip With Drought Aid and Mega Railway Drive
US President Joe Biden announced more than $1 billion in funding for drought-stricken African nations as he ended his three-day visit to Angola with a summit at the port of Lobito, where a $3 billion railway project aims to connect Angola's Atlantic coast with Zambia and the Democratic Republic of Congo.
The aid package, which will be split across 31 nations dealing with historic drought conditions linked to El Nino, was unveiled during Biden's landmark trip as the first US president to visit Angola.
"The United States is all in on Africa," Biden said as he reaffirmed Washington's commitment to the continent following a meeting with Angolan President Joao Lourenço at the Presidential Palace on Tuesday.
Both leaders highlighted strengthening ties between their nations despite past Cold War tensions.
"Our conflictual past ... is now over. This is also a turning point in our relations, which without a shadow of doubt, will experience new dynamics from today," Lourenço told reporters.
During a speech at Luanda's National Slavery Museum, Biden described the transatlantic slave trade as "the original sin" that has "haunted" his country.
Angola was a major source of enslaved people transported to the Americas in the 19th century.
Biden visits Angola to keep railway project and American interests on track
Transporting minerals
Wednesday's meeting saw Biden joined by Congolese President Félix Tshisekedi and Zambian leader Hakainde Hichilema to discuss plans for transforming the transport of critical minerals across the region.
The 1,300-kilometre rail line, funded partly by the US, is expected to slash transport times for minerals like cobalt and copper across central Africa to the coast from 40 days by road to just 40 hours by rail.
The railway is a key component of Biden's Partnership for Global Infrastructure and Investment initiative, designed to boost trade and job creation in Africa while strengthening ties between the US and the region.
"This corridor is of vital importance to opening up our countries, to opening up our regions, the continent, and truly the global economy," Hichilema said.
"This project is a huge opportunity for investment, for trade."
Eastern DR Congo grapples with Chinese gold mining firms
Countering China
However as Biden prepares to leave office in January, questions remain about the long-term support for initiatives like the Lobito Corridor.
His visit comes as Washington seeks to counter China's growing influence in Africa.
Hours before Biden's museum speech, Beijing announced export restrictions on several high-tech materials to the United States, including minerals used in electric vehicle batteries.
"We've also pushed to ensure that developing nations do not have to choose between paying down unsustainable debt and being able to invest in their own people," Biden said in an apparent reference to Chinese lending practices. RFI website.
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