Major International Business Headlines Brief::: 13 December 2024

[Bulls n Bears]

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Major International Business Headlines Brief:::  13 December 2024 

 


 


 


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ü  South Africa: Scandal Rocks Oxygen Plant Tender

ü  Nigeria: Water Scarcity Looms in Kano As Workers Begin Strike

ü  Nigeria: Economy Deteriorates As Productivity Record 49.6 Points in
November - Report

ü  Rwanda: Inside Reforms in Employees' Recruitment for Basic Education
Schools

ü  Exploring Africa's Cultural Diversity through Online Media

ü  Nigeria: Blackout As National Grid Collapses 11th Time in 2024

ü  Nigeria: World UHC Day 2024 - Nigeria's Government Must Ensure Equitable
Healthcare Access for Its Rural Dwellers

ü  South Africa: PRASA Finally Signs Rail Deal With City of Cape Town

ü  Nigeria: Airport - Ekiti Gets NCAA Approval, to Commence Non-Scheduled
Flight Operation

ü  South African, Angola Deepen Ties

ü  Nigeria: Tinubu's Tax Reforms Will Alleviate Burden On Vulnerable
Nigerians - Minister

ü  Nigeria: Another Labour Party Lawmaker Defects to APC

 


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South Africa: Scandal Rocks Oxygen Plant Tender

Minister of Public Works and Infrastructure, Dean MacPherson, has initiated
an independent probe into the Independent Development Trust (IDT) following
allegations of corruption surrounding an R800 million tender for installing
oxygen plants in health facilities across South Africa, according to SABC
News. Reports indicate that two companies awarded the tender lacked the
South African Health Products Regulatory Authority (SAHPRA) approval. The
investigation raised concerns about fraudulent documentation submitted by
unqualified contractors and governance challenges within the IDT, compounded
by an inquorate board.

 

Rubber Bullets Fired at Protesting Johannesburg Municipal Workers

 

Several City of Johannesburg employees, members of the South African
Municipal Workers Union (Samwu), were injured when police used rubber
bullets to disperse protests, reports SABC News. The workers, demanding a
wage increase, had blocked roads in Braamfontein, including access routes to
the M1 Highway, causing significant traffic disruptions. Samwu Deputy
Regional Chairperson, Lebogang Ndawo, criticized the police for their
actions, claiming the protesters were peaceful. Ndawo also accused
councilors of prioritizing their own salary increments—reportedly R83,000
annually - while disregarding struggling municipal workers. Samwu has vowed
to continue demonstrations until their demands are addressed.

 

Stricter Traffic Laws for Festive Season

 

The Western Cape Government has endorsed President Cyril Ramaphosa's signing
of the National Road Traffic Amendment Bill as a key measure to boost road
safety during the festive season, reports IOL. Isaac Sileku, the MEC for
Mobility, described the legislation as a critical milestone in reducing road
accidents and fatalities. The amended law introduces stricter rules for
drivers and vehicles, enhanced enforcement mechanisms, and stiffer penalties
for offenders. Sileku said that these measures safeguard lives as residents
embark on holiday travels.- South African news

 

 

 

 

Nigeria: Water Scarcity Looms in Kano As Workers Begin Strike

Workers of the Kano State Water Board have embarked on an indefinite strike
to demand the implementation of the new minimum wage of N70,000, which they
claim other parastatal workers in the state have already received.

 

Chairman of the workers' union, Malam Najib Abdussalam, expressed
disappointment over the failure to fulfil an agreement with the board's
managing director, Engineer Ahmad Garba Bichi, to effect the new wage before
December. Workers were instead paid the old minimum wage.

 

Najib noted that although the water board is a revenue-generating agency,
the government should provide interim support to meet the wage demand before
reviewing water tariffs.

 

Engineer Bichi confirmed the strike, stating that payment of the new minimum
wage would only be possible after a tariff review.

 

Meanwhile, the workers have shut down the Challawa Water Treatment Plant,
and the Tamburawa plant is undergoing major repairs, raising fears of severe
water shortages.

 

Water vendors are already selling 25-litre jerry cans at N100 or more,
depending on the location.

 

A resident, Mustapha Isa, called for increased budgetary allocation for
water supply, citing inadequacies in the 2025 budget for this purpose.

 

Daily Trust.

 

 

 

 

 

Nigeria: Economy Deteriorates As Productivity Record 49.6 Points in November
- Report

The Nigeria's business conditions deteriorated further in November as
productivity of the private sector of the economy stood at 49.6 in November
2024.

 

This was revealed in the Stanbic IBTC Bank's Purchasing Managers' Index
(PMI) report for November 2024, which stated that, "business activity in the
Nigerian private sector continued to fall in November as strong inflationary
pressures again weighed on customer demand."

 

It should be noted that the PMI's readings above 50.0 signal an improvement
in business conditions on the previous month while readings below 50.0 shows
deterioration.

 

The report said: "The headline PMI posted below the 50.0 no-change mark for
the fifth consecutive month in November to signal a further deterioration in
business conditions in the private sector. That said, at 49.6 the latest
reading was up from 46.9 in October and pointed to only a marginal decline."

 

It added: "The inflationary environment and muted demand conditions meant
that business activity continued to fall, the fifth month running in which
that has been the case. The latest reduction was only marginal, however.

 

"Sector data pointed to increases in output in agriculture and
manufacturing, but decreases in wholesale & retail and services.

 

"Purchase costs rose rapidly again in November amid currency weakness and
higher prices for fuel and raw materials. Although slowing slightly for the
second month running, the pace of inflation remained elevated."

 

In his comment of the latest PMI's report, the Head of Equity Research West
Africa at Stanbic IBTC Bank, Mr. Muyiwa Oni, said: "The Nigerian private
sector activities deteriorated further in November, albeit at a less
pronounced rate relative to October.

 

"This less pronounced deterioration was primarily due to the return to
growth of new orders in November, having decreased solidly in October.

 

"Some panelists saw signs of demand picking up, but others reported that
high costs again acted to deter customers. Elsewhere, higher energy prices,
increases in the cost of raw materials, and lingering currency weakness
continue to lead to intensification of price pressures in November.

 

"Thus, input prices increased at a substantial rate again during November,
with the pace of inflation only slightly lower than that seen in October and
remaining one of the sharpest on record.

 

"Indeed, based on the November PMI survey results, companies reported some
tentative signs of demand improving although some customers were deterred by
high prices."

 

The PMI report stated that employment ticked down in November, thereby
ending a six-month sequence of job creation as sector data indicated that
the overall reduction in employment was centred on services.

 

The report said, "A combination of low sales volumes and high prices for
inputs led Nigerian companies to cut their purchasing activity again during
November," noting that "input buying was down for the fourth time in the
past five months. The latest decline was solid and among the largest on
record, despite easing from the previous survey period."

 

The report said that overall input prices increased at a substantial rate
again during November, with the pace of inflation only slightly lower than
that seen in October and remaining one of the sharpest on record.

 

It said: "Manufacturing posted the fastest rise in overall input costs,
closely followed by wholesale and retail. The rate of purchase price
inflation remained elevated in November as 64 per cent of respondents
signaled a rise over the course of the month."

 

It said that the weakness of the Naira against the US dollar was a key
factor pushing up purchase costs while other factors were higher fuel and
raw material prices.

 

"Higher input costs continued to feed through to rises in output prices
during November. Although ticking down from October, the pace of charge
inflation remained rapid and was among the fastest in the series history,"
the report said.

 

This Day.

 

 

 

 

Rwanda: Inside Reforms in Employees' Recruitment for Basic Education Schools

A new Prime Minister's order has introduced a transformative statute
governing the recruitment and management of employees in basic education
schools.

 

These reforms apply to public and government-subsidized institutions,
covering pre-primary, primary, general secondary, professional education,
and technical and vocational training schools from level one to level five.

 

ALSO READ: Five pressing issues Rwandan educators need urgently resolved

 

Under the new directive, the recruitment of headteachers and deputy
headteachers will now be centralized under the Ministry of Education.

 

Previously, these roles were filled at the district level.

 

The Minister of Education Joseph Nsengimana emphasised that this change aims
to enhance transparency and efficiency in the hiring process.

 

"Previously, we had a statute focusing only on teachers. The new statute
covers all employees in basic education schools to ensure effective
management of the schools," Nsengimana said.

 

The reform also opens the door for non-career teachers with relevant
expertise in education to take on leadership roles as head teachers or
deputies.

 

ALSO READ: REB announces teachers' recruitment exams

 

Expanded roles and responsibilities

 

The new statute introduces several additional positions, including
accountants, secretaries for primary schools, nurses, educational
psychologists, logisticians, career guidance counselors, and industrial
liaison officers. These roles aim to improve school management and address
gaps in providing quality education.

 

For instance, pre-primary and primary schools are now mandated to have
headteachers, deputy headteachers, teachers, accountants, and educational
psychologists.

 

ALSO READ: Over 12,000 teachers to be recruited

 

General secondary and technical institutions will require an expanded
roster, including patrons or matrons, IT technicians, and laboratory staff,
among others.

 

Streamlined recruitment processes

 

The recruitment process will leverage the electronic recruitment system
managed by the Ministry of Public Service. The City of Kigali and districts
are tasked with listing vacant positions and submitting them to the Ministry
of Education.

 

The Ministry will then handle all subsequent steps, including advertising
vacancies, shortlisting candidates, conducting examinations, and publishing
results.

 

In government-subsidized schools, candidates for headteacher or deputy
headteacher roles must be proposed by the school owner and approved by the
Ministry of Education.

 

ALSO READ: Inside Rwf760 billion education budget in 2023/2024

 

Notably, no prior work experience is required for these leadership
positions.

 

Accountant secretaries will also be introduced in primary schools to assist
with financial and administrative duties. This change addresses a
long-standing challenge where primary school headteachers were burdened with
financial responsibilities, leaving less time for academic oversight.

 

ALSO READ: VIDEO: Inside Rwanda's most overcrowded school

 

Gilberte Mukakalisa, headteacher of EP Indatwa in Gakenke District,
expressed optimism: "We believe the addition of accountants will improve
financial management, allowing school leaders more time to monitor teaching
and learning operations."

 

Addressing psychological and career needs

 

The inclusion of educational psychologists and career guidance counselors is
seen as a significant step forward. These professionals will help address
behavioral issues, reduce school dropouts, and provide career guidance based
on students' skills.

 

Benson Rukabu, National Coordinator of the Rwanda Education for All
Coalition (REFAC), lauded the reforms. "Teachers couldn't fulfill all these
duties, creating a gap in quality education.

 

ALSO READ: Peek into History : English as a new medium of instruction

 

These changes will improve education outcomes and help students prepare for
the labor market," he said.

 

In-service teachers must now take an English proficiency exam every three
years as English is the medium of instruction. Teachers who fail twice
consecutively will face dismissal.

 

This measure seeks to uphold teaching standards and ensure effective
communication in classrooms.

 

While the reforms are widely welcomed, stakeholders emphasize the need for
adequate funding and swift implementation.

 

Gaspard Ntawangake, a secondary school teacher, highlighted the urgency of
deploying psychologists and career counselors, noting that many teachers
lack the expertise to address students' behavioral and career development
needs.

 

Ntawangake added: "Students with psychological issues often face expulsion
instead of receiving the help they need. Psychologists can provide targeted
interventions, helping students stay in school and succeed."

 

These sweeping reforms aim to enhance the management, inclusivity, and
overall quality of Rwanda's basic education system. By addressing staffing
gaps and improving recruitment processes, the government hopes to produce
graduates better equipped for the modern labor market.

 

New Times.

 

 

 

Exploring Africa's Cultural Diversity through Online Media

Africa is renowned for its remarkable cultural variety, with each region
contributing its own customs, languages, and art forms. From north to south,
east to west, African communities express themselves through a wide range of
unique traditions, music, and visual arts. Online media has become an
essential tool for sharing this rich cultural landscape, connecting
audiences within Africa and abroad to a greater understanding of the
continent's diversity.

 

Various digital platforms now provide extensive content, spanning
Nollywood's extensive film industry, regional music styles, and modern
fashion trends. These digital channels allow communities to share their art,
stories, and innovations with the world, giving audiences a window into
their culture on an unprecedented scale.

 

The Global Impact of African Culture Through Online Platforms

 

The internet has played an essential role in amplifying African culture
globally. Platforms like social media, streaming services, and online
publications have introduced new opportunities for creators to showcase
their art, music, and stories. Nollywood  has established itself as the
second-largest film industry in the world in terms of production volume,
offering stories that resonate across different cultures and regions. Video
streaming services like YouTube and Netflix make Nollywood movies,
documentaries, and TV series accessible to millions, allowing viewers
everywhere to engage with storytelling directly.

 

Music genres such as Afrobeat, Amapiano, and Highlife have also found a
foothold on the global stage. Musicians from countries including Nigeria,
South Africa, and Ghana frequently collaborate with international artists,
bringing rhythms to global audiences. This surge in popularity has fueled
interest in their culture, inspiring listeners worldwide to explore the
continent's vibrant musical traditions.

 

Fashion & Art in the Digital Space

 

African fashion and visual arts have also captured significant attention
online. Designers from across the continent are making a name for
themselves, with their work often reflecting traditional patterns and
fabrics. Social media sites like Instagram have become vital for designers
to reach audiences beyond their borders, eliminating the constraints of
conventional retail. This digital expansion has allowed fashion to reach an
international audience, introducing unique aesthetics to people around the
world.

 

Visual artists in Africa, photographers, painters, and sculptors, are
similarly using online galleries and websites to share their work. Online
art platforms focused on artists have allowed them to engage with
collectors, curators, and art lovers globally, bringing African perspectives
to the international art scene.

 

Influence on Digital Entertainment

 

The reach of culture extends beyond film, music, and fashion–it is also
evident in online gaming. Players worldwide find inspirational themes that
resonate with their roots through all casino online games , including those
that celebrate African-inspired visuals, portraying the continent's
landscapes, wildlife, and symbols. Popular games such as Mega Moolah,
African Quest, African Sunset, and Serengeti Diamonds bring Africa's natural
beauty to life—from the plains of the Serengeti to dense rainforests.
Through these games, players experience scenes inspired by Africa's rich
cultural and natural heritage, sparking a growing interest in the
continent's uniqueness.

 

These games illustrate a broader trend of integrating cultural elements into
digital experiences. They offer a form of entertainment that introduces
players to motifs and symbols, which can help build curiosity about the
continent's traditions and landscapes.+

 

Storytelling in the Digital Age

 

Storytelling, a vital aspect of African culture, has traditionally been
passed down through generations in the form of spoken word, music, and art.
With online media, these stories now reach new audiences, amplifying their
impact. Digital channels such as YouTube, podcasts, and storytelling
websites offer creators a platform to share myths, folklore, and
contemporary narratives. This transition to digital media has not only
preserved traditional stories but has also given writers, poets, and
filmmakers a way to showcase modern perspectives and life.

 

Short films, online series, and animations produced by creators provide
insights into Africa's mixed experiences, blending traditional and
contemporary elements. These platforms have been particularly valuable for
artists who wish to represent their cultures while experimenting with new
formats, enabling stories to resonate with a global audience.

 

Online Media's Role in Cultural Preservation & Exchange

 

Online platforms have allowed creators to preserve cultural knowledge and
facilitate cross-cultural exchanges. Blogs, podcasts, and online
documentaries are used to share the stories, customs, and practices that
have been handed down for generations. By recording oral histories and
cultural celebrations, these digital archives create a valuable resource for
future generations.

 

These sites have also enabled African voices to reach audiences around the
world who may not have previously encountered these perspectives. This
global reach fosters a deeper appreciation of Africa's diverse culture
while challenging common stereotypes and misconceptions. Africa's narratives
are no longer limited by borders but are now part of a larger global
dialogue.

 

 

 

 

Nigeria: Blackout As National Grid Collapses 11th Time in 2024

Nigeria's national power grid managed by the Transmission Company of
Nigeria, TCN, collapsed yesterday, the 11th time in 2024, leaving the
country in complete blackout.

 

Data from the National System Operator, NSO, showed that as of 2pm yesterday
none of Nigeria's 26 power plants was on the grid.

 

Prior to that time, checks at about 1pm showed that 15 plants were on the
grid generating a combined 3,087MW, with Egbin generating 666MW, Jebba Hydro
at 427MW and Azura-Edo IPP at 379MW as top four power plants.

 

The latest collapse came despite a directive by the Minister of Power, Chief
Adebayo Adelabu, for full implementation of the recommendations made by the
ministry's committee set up to resolve the challenges faced by the grid.

 

After the 10th collapse, the Minister promised that short, medium and long
term measures would be taken to curb incessant electricity grid collapses.

 

Meanwhile, electricity distribution companies, DiscCos, confirmed the
incident on their social media handles while assuring consumers that they
were working with stakeholders to restore the grid.

 

Abuja DisCo in a post on its X (twitter) stated: "Dear Valued Customers, we
wish to inform you that a system disturbance occurred on the national grid
at 1:32pm today causing power outage across our franchise areas. While
gradual restoration of power supply has commenced, be assured that we are
coordinating closely with relevant stakeholders to restore power fully as
soon as the grid is stabilized".

 

Eko DisCo in Lagos posted: "Dear valued customer, kindly be informed there
was a reported case of system disturbance on 11th December, 2024 at 13:32hrs
which has resulted in a loss of power supply across our network. We are
currently working with our partners as we hope for speedy restoration of the
grid. We will keep you updated as soon as power supply is restored. Kindly
bear with us".

 

How grid collapse impacts our operations -- GenCos

 

In a note on frequent collapse of the national grid, the Chief Executive,
Association of Power Generation Companies (APGC), Dr. Joy Ogaji highlighted
the significant mechanical and commercial impacts of grid collapses on
generation companies (GenCos).

 

Although the full industry-wide impact on GenCos is yet to be quantified,
Dr. Ogaji revealed that the Kainji and Jebba hydro plants alone have
incurred losses of N21.87 billion due to system instability this year.

 

"Grid collapse poses a significant threat to Nigeria's power sector,
resulting in frequent disruptions, equipment damage, and substantial revenue
losses for GenCos. Technically, grid collapse can cause catastrophic damage
to generators, transformers, and other critical infrastructure, leading to
prolonged downtime and costly repairs".

 

Vanguard.

 

 

 

 

Nigeria: World UHC Day 2024 - Nigeria's Government Must Ensure Equitable
Healthcare Access for Its Rural Dwellers

One of the key issues of national concern -- which any government would be
concerned about, is the alarming number of Nigerians who are currently
unable to access healthcare. While many have relied on out-of-pocket
spending to meet their health needs, some have been completely hampered by
the country's economic realities.

 

According to a World Bank report in 2023, the poverty rate in Nigeria has
reached 38.9%, with approximately 87 million Nigerians living below the
poverty line. A further report from the World Health Organization (WHO) in
2022 estimated that about 80% of Nigerians have fallen into poverty as they
struggle to pay hospital bills. This is hindering effective progress to
achieve Universal Health Coverage (UHC).

 

The economic stability of the country has been worsened by the high level of
inflation, which stands as a contributing factor to the financial struggles
of many Nigerians today. Since the removal of the fuel subsidy in 2023, many
citizens have been left economically vulnerable, which threatens their
ability to access healthcare services when they fall ill due to the rising
cost of living.

 

Currently, Nigeria's UHC index score is lower than the average for the
region and income group. According to Dr. Walter Mulombo, WHO Nigeria
representative, "the country's progress on the UHC Service Coverage Index
rose from 25 in 2003 to 44 in 2019" He pointed out that out-of-pocket
expenditure still accounts for over 75% of health spending, creating
barriers for many Nigerians.

 

As the global community celebrates World Universal Health Coverage (UHC)
Day, the theme "Health: It's on the Government" calls on every country's
leadership to invest in health for all and protect people from impoverishing
healthcare expenditure.

 

The right to healthcare is a fundamental human right

 

Achieving UHC is firmly rooted in the 1948 WHO Constitution, which declares
health as a fundamental human right and commits to ensuring the highest
attainable level of health for all. Therefore, every Nigerian should be able
to seek medical care without facing financial ruin or catastrophe, as
recognised by various international and national laws and policies.

 

While there is rural-to-urban migration in Nigeria, about 45.7% of the
country's population still lives in rural areas. For many residents in rural
communities, the need for UHC remains an unfulfilled promise. Many rural
communities across Nigeria face limited access to quality medical services,
inadequate infrastructure and a shortage of skilled professionals. This
situation has left most of the population in a precarious situation, with
many forced to resort to dangerous alternatives.

 

Accessing hospital services can often be challenging for rural communities,
and those who have access only visit under emergency circumstances where, in
some cases, public fundraising is required to enable them to pay for accrued
bills. Some patients with no one to assist them financially in accessing
healthcare are left to their fate, hoping for a miracle.

 

According to a recent publication by BusinessDay an estimated 253,000
Nigerians die annually due to insufficient access to healthcare. This is
almost double the number of deaths caused by poor quality healthcare
services, which cause 123,000 deaths.

 

The study stated that a majority of these numbers come from rural
communities, where preventable diseases, fuelled by socio-cultural factors,
including unavailability of skilled medical personnel, persist. This
unacceptable reality underscores the need for swift, sustainable solutions.

 

Some states' strategies to achieve UHC

 

Addressing these challenges requires innovative and sustainable solutions
that guarantee access to quality healthcare delivery. For instance, in Enugu
State, the government, led by Governor Peter Mbah, has taken steps to
address some challenges faced by the state's indigenes, including the
construction and equipping of 260 Type-3 primary healthcare centres (PHCs)
and announcing the recruitment of 2,220 health workers to address the
healthcare deficit across the state. Dr Ifeyinwa Ani-Osheku, the Executive
Secretary of Enugu State Primary Health Care Development Agency (ENPHCDA),
noted that the aim for this is for patients living in rural areas to have
the same opportunities and treatments as their counterparts in urban areas.

 

In Lagos, the state government has announced that over a million residents
have been enrolled in its health insurance scheme, known as ILERA EKO, as
part of ongoing efforts to achieve UHC.

 

In 2023, the WHO and the National Primary Health Care Development Agency
(NPHCDA) embarked on an advocacy visit to Zamfara, Sokoto and Kebbi states
in the northwest region as a tactical effort to improve access to PHC
service delivery, especially vaccination, to inaccessible
security-compromised communities in the states. The region, consisting of
six states, has been grappling with a severe security crisis, which has
greatly hampered the delivery of healthcare services, such as immunisation,
resulting in a staggering number of zero-dose children in the country.

 

Nigeria's health insurance coverage remains low

 

Another aspect of the low UHC in Nigeria is that after almost two decades of
establishing the National Health Insurance Scheme (NHIS) in 2005, the
legislation and the enactment for mandatory health insurance finally came in
2022.

 

However, while available data shows that out of over 200 million Nigerians,
only 5% are covered with health insurance, there has been commendable
progress as Dr Kelechi Ohiri, Director-General of NHIA, noted that health
insurance coverage rose within the year, growing from 16.7 million to 19.2
million enrolees in Nigeria.

 

The National Health Insurance Authority (NHIA), in its quest to expand UHC
and break barriers to equitable healthcare, is broadening the scope of
financial risk protection for the poor and vulnerable, going beyond the
Basic Health Care Provision Fund (BHCPF) to include the Vulnerable Group
Fund (VGF). Through this initiative, health insurance premiums are
subsidized for indigent Nigerians, including low-income families, persons
with vesico-vagina fistula, vulnerable pregnant women needing emergency
care, and the elderly. There is an urgent need to reduce the burden of
out-of-pocket expenses for health services and expand UHC in Nigeria.
Enhancing the scheme's operations can ensure expanded healthcare coverage
for the poor and vulnerable.

 

Moving forward

 

As the government prepares the budget for the 2025 fiscal year, it is
crucial to allocate sufficient funds to cover a broader spectrum of
healthcare expenses, especially for those with lower incomes.

 

The chairman of the Enugu State chapter of the Nigerian Medical Association
(NMA), Dr Sunny Okafor, emphasised the need for health insurance and
functional primary healthcare centres. He also stressed the importance of
regular recruitment and retention of healthcare workers, as quality and
access are tied to Human Resources for Health (HRH).

 

State governments should ensure that the remuneration of state and local
government healthcare workers is equal to that of their counterparts at the
federal level. This will boost talent retention in healthcare and reduce
internal brain drain -- a situation where health workers at the state and
local government levels see their jobs as transit camps to take up federal
jobs.

 

By taking these steps, Nigeria's government can help ensure that all
citizens, particularly those in rural communities, have access to quality
healthcare services without financial hardship.

 

Investing in UHC enhances equity and social cohesion while benefiting the
national economy by improving health and well-being, increasing workforce
participation and productivity, and building resilience in individuals,
families and communities.

 

Nigeria Health Watch.

 

 

 

 

South Africa: PRASA Finally Signs Rail Deal With City of Cape Town

The Service Level Plan gives the City oversight over annual performance
plans, station revitalisation, and the introduction of more train sets

 

Four years ago, passenger rail services in Cape Town were virtually
non-existent.

Attempts by the City of Cape Town to get PRASA to sign a plan holding it
accountable for reviving passenger rail were met with obstructions and
delays.

Continued pressure from commuter rights organisation #UniteBehind and the
City has finally yielded results.

But #UniteBehind believes the plan does not go far enough.

The City of Cape Town and the Passenger Rail Agency of South Africa (PRASA)
have signed a Service Level Plan (SLP) following court action, threats of an
intergovernmental dispute, and more than a year of negotiations.

 

The SLP, which was signed by PRASA on 5 December, could lay the foundation
for the City taking over the management of passenger rail in Cape Town from
PRASA.

 

While the SLP was being negotiated, the City conducted its own feasibility
study for managing the passenger rail network, which was passed by Council
on the same day the SLP was signed.

 

In his council speech, Cape Town mayor Geordin Hill-Lewis said he was "glad
to announce" PRASA had signed the SLP "to improve Metrorail in the
short-term".

 

Hill-Lewis said the plan would be monitored by a joint committee with PRASA.

 

"This is a big step towards improving the quality and reliability of the
service through a legally binding agreement, and I am very pleased that we
managed to get this finalised this year," he said.

 

Following a decline in the passenger rail service in Cape Town from 2013,
with mismanagement, theft, and vandalism bringing it to its knees in 2020,
the SLP makes PRASA responsible for regular reports to the City, with the
City exercising oversight over commitments to revitalise stations, introduce
more train sets, recommission services, and improve the number of daily
passengers and the number of train trips.

 

As part of the SLP, the City also commits to providing the municipal
services needed to support and enhance passenger rail; encouraging
transit-oriented development along rail corridors; and expediting permits
through the City's services and development planning departments.

 

"Taking charge of Metrorail is especially important for lower-income
households, who would save an estimated R932-milllion a year if trains were
working as they should," said Hill-Lewis.

 

But rail activist organisation #UnitedBehind said that while the SLP "marks
progress", it falls short of what is needed for PRASA to fully meet its
Constitutional and statutory obligations to commuters.

 

"Despite PRASA having had over a year to finalise it, the plan lacks
enforceable commitments, timelines, or measures that would enable it to
function as a roadmap for improving commuter rail services," said
#UniteBehind Executive Director Zukie Vuka.

 

She said the document does not introduce any new obligations or standards
beyond what is already in PRASA's corporate and performance plans, making it
"a repackaging of existing strategies rather than a meaningful new framework
for improving rail services".

 

The plan, according to Vuka, does not identify specific individuals or
executives responsible for implementing its provisions, "leaving no clear
structure for accountability or consequences for failure".

 

"There are no initiatives to develop the skills or resources necessary to
enhance the City's or PRASA's capacity to deliver on their public transport
responsibilities."

 

Vuka said that the SLP, as it currently stands, is "sub-standard" and should
not be used as a model for other metropolitan municipalities.

 

PRASA spokesperson Andiswa Makanda had not responded by the time of
publishing.

 

GroundUp.

 

 

 

 

Nigeria: Airport - Ekiti Gets NCAA Approval, to Commence Non-Scheduled
Flight Operation

Governor Oyebanji welcomes the new approval, describing it as a fulfillment
of his earlier pledge to the people of the state.

 

Ekiti Agro-Allied International Cargo Airport (EAICA) Ado-Ekiti, has
received the approval of the Nigeria Civil Aviation Authority (NCAA) to
commence non-scheduled flight operation effective 15 December.

 

A statement from the Special Adviser on Media to Governor Biodun Oyebanji,
Yinka Oyebode, noted that NCAA, in a letter dated 11 December, and addressed
to the governor, said the approval of the non-scheduled operations under
Visual Flight Rules (VFR) at the airport is for a period of six months - 15
December 2024 to 15 June 2025.

 

According to him, the letter, which was signed by NCAA Acting Director
General, Chris Najomo, was in response to the state government's application
for flight operational permit for the airport.

 

The statement reads in part: "According to NCAA, the approval for a six
months non-schedule operation at the airport is to enable the NCAA validate
the implementation of the pending findings and to allow Ekiti State
Government time to rectify a few outstanding corrective action items
indicated in the agency's last inspection report.

 

"As part of compliance steps towards the commencement of the non-scheduled
flight operations at the airport, operations are to be in agreement with
relevant agencies for provision of essential services, including Air Traffic
Services, Aerodrome Rescue and Fire Fighting Services, Aviation Security and
Meteorological services.

 

"It will be recalled that the state government had earlier signed MoUs and
Service Level Agreements with these federal aviation agencies."

 

Welcome development

 

Mr Oyebode said the government welcomes NCAA's approval for the
non-scheduled flight operation, which he noted allows private jets and other
chartered flights to land and take off from the airport between 6 a.m. and 6
p.m. (or sunrise to sunset), preparatory to the final approval for
commercial flight operations.

 

He wrote: "Most new airports are usually given non-scheduled flight approval
to allow them clear audit gaps in their compliance before final approval for
flight operational permit.

 

"Governor Biodun Oyebanji describes the NCAA's approval as a welcome
development and a justification for the state's investment in the airport
project, which was designed to boost Ekiti State's socioe-conomic
development by making the state more readily accessible.

 

"Governor Oyebanji had earlier in the year assured stakeholders that the
Ekiti airport would become operational before the end of the year."

 

Premium Times.

 

 

 

 

South African, Angola Deepen Ties

President Cyril Ramaphosa has reaffirmed South Africa's commitment to
strengthening its partnership with Angola, focusing on shared economic
growth, continental integration and sustainable development.

 

Addressing a media briefing during the Angola State Visit on Thursday,
President Ramaphosa said South Africa is keen to see more Angolan investors
enter the South African economy.

 

"South Africa looks forward to deepening its ties with Angola in the cause
of mutually beneficial growth, continental economic integration and
sustainable development," the President said.

 

President João Manuel Gonçalves Lourenço of the Republic of Angola is in
South Africa for a State Visit at the Union Buildings in Tshwane.

 

President Ramaphosa conferred the Order of South Africa on President
Lourenço, meaning he shall henceforth be honored as an esteemed member of
the country's National Orders.

 

"The people of South Africa collectively salute President Lourenço on being
conferred with this very high honor of the order of South Africa. I
congratulate you for being honored in this manner by South Africa,"
President Ramaphosa said.

 

The two Heads of State will address a Business Forum later today. President
Ramaphosa said this serves as a chance to connect Angolan and South African
businesses and they look forward to participating.

 

"For our part as governments, we will be expanding on the structural
economic reforms underway in both countries to improve the investment
climate and business operating environment," President Ramaphosa said.

 

With respect to bilateral cooperation, President Ramaphosa said the two
countries agreed on an audit of existing agreements and Memoranda of
Understanding.

 

"Since formal diplomatic relations were established between Angola and South
Africa, we have signed more than 44 agreements. They are at varying stages
of implementation. This stock-take is necessary in the interests of
strengthening the strategic partnership going forward," the President said.

 

With respect to collaboration on peace and security in the region and across
Africa, President Ramaphosa commended President Lourenço for his efforts in
mediating between the Democratic Republic of Congo and Rwanda, as President
of the International Conference on the Great Lakes, and as Facilitator of
the Luanda Process.

 

The President said that South Africa and Angola are deeply troubled by the
deteriorating situation in Sudan and the ensuing humanitarian crisis.

 

President Lourenço serves on the AU Presidential Ad-Hoc Committee for the
Republic of Sudan.

 

"South Africa pledges its full support for all efforts to bring about an end
to the conflict in Sudan. We are equally concerned at the post-electoral
crisis in Mozambique and have agreed to work together to enable our region
to better respond to peace and security challenges in Africa," the President
said.

 

President Ramaphosa further congratulated President Lourenço on his
re-election, highlighting that this has been a year of major elections
across the continent, including in Angola and South Africa.

 

"We have a shared sense of optimism regarding the state of multiparty
democracy in Africa, which has proven to be robust and in good health.

 

"We have commended SADC for supporting these democratic processes through
election observer missions, as well as for providing valuable
recommendations on electoral processes going forward," he said.

 

SAnews.gov.za.

 

 

 

 

Nigeria: Tinubu's Tax Reforms Will Alleviate Burden On Vulnerable Nigerians
- Minister

Mr Idris said the tax reforms are foundational to Nigeria's long-term
prosperity.

 

President Bola Tinubu's tax reform efforts will help streamline Nigeria's
tax laws and reduce the financial burden on the most vulnerable Nigeria, the
Minister of Information and National Orientation, Mohammed Idris, has said.

 

Mr Idris said this during the 2024 Annual General Conference of the
International Press Institute (IPI) Nigeria, held in Abuja on Wednesday.

 

The event, keynoted by a veteran broadcaster, lawyer and former
Director-General of the Nigeria Television Authority, Tonnie Iredia, a
professor, drew big names in the Nigerian media industry, representatives of
law enforcement agencies, including the Director-General of the State
Security Service (SSS), Adeola Ajayi, former Minister of Information, Lai
Mohammed, and others.

 

The conference was themed around democracy, press freedom, and Nigeria's
civic space.

 

"One of the most topical examples right now is the tax reform initiative,
which will go a long way towards simplifying Nigeria's existing tax regimes
and making compliance easier, while also reducing the tax burden on the most
vulnerable Nigerians. A recurring highlight of the reform is the
introduction of several new tax exemptions that will benefit various
categories of individuals and businesses," Mr Idris told the gathering on
Wednesday.

 

The minister also emphasised how the reforms complement the administration's
broader macroeconomic initiatives, which he claimed have redirected
resources previously lost to wasteful subsidy programmes into critical
sectors like infrastructure, education, and social investments.

 

According to Mr Idris, these changes are foundational to Nigeria's long-term
prosperity.

 

"President Tinubu's vision is that no one will be left behind in the new
Nigeria that is emerging under his watch," Mr Idris added. "This is what the
Renewed Hope Agenda is all about."

 

He called on journalists to amplify the administration's efforts, which he
described as the most significant economic reforms since the return to
democratic rule in 1999.

 

Controversy over tax reform bills

 

The Tinubu administration is pushing for consequential tax reforms through
four now before the National Assembly.

 

The bills are the Joint Revenue Board of Nigeria (Establishment) Bill 2024,
the Nigeria Revenue Service (Establishment) Bill 2024, the Nigeria Tax
Administration Bill 2024, and the Nigeria Tax Bill 2024.

 

The bills have drawn criticism particularly from Northern leaders have
argued that the reforms could disproportionately favour specific regions and
might threaten the operations of key government agencies like TETFUND and
NITDA.

 

However, presidential spokesperson Bayo Onanuga refuted these claims and
reassured Nigerians that the agencies would not be eliminated but would
transition to alternative funding mechanisms.

 

"Contrary to the lies being peddled, the bills do not suggest that NASENI,
TETFUND, and NITDA will cease to exist in 2029," Mr Onanuga stated. "The
proposal seeks to consolidate taxes into one, which will be shared with key
agencies in a phased manner until 2030."

 

Beyond tax reforms

 

Beyond tax reforms, Mr Idris said, the Tinubu administration plans a
comprehensive blueprint for economic diversification, human capital
development, and inclusive growth.

 

He also reflected on Nigeria's democratic journey since 1999.

 

He said press freedom is a cornerstone of the country's democratic
resilience.

 

"But beyond the professional talent, the greatest asset of the Nigerian
press has been the boldness, the fearlessness in the face of intimidation,
the irrepressible capacity to speak truth to power regardless of the cost,"
he noted.

 

"This audacity helped pave the way for our independence from colonial
Britain, all those decades ago. The same fearlessness helped truncate
military rule and usher in the 4th republic. And since the start of the 4th
republic, none of those important attributes have diminished. You can see
this in the way that the press continues to hold successive governments to
account and to rally around their own in difficult circumstances."

 

On media freedom, Mr Idris said that Nigeria has enjoyed significant
openness since 1999, despite occasional challenges.

 

He reaffirmed the government's commitment to protecting press freedom and
the civic space.

 

"The President is a firm believer in media freedom and the protection of
Nigeria's civic space. Not only has he been a media entrepreneur himself,
but he has also earned himself a place in history as one of the champions of
the pro-democracy movement that saw the permanent end of military rule in
Nigeria," he stated.

 

The Minister urged stakeholders to foster a civic space that accommodates
diverse opinions while holding institutions accountable.

 

"These truths can and must all coexist if we want to forge a stronger
democracy as the foundation for the strong and prosperous Nigeria of our
dreams," he added.

 

Premium Times.

 

 

 

Nigeria: Another Labour Party Lawmaker Defects to APC

The defector, Alfred Ajang, said his decision was based on the crisis within
the LP.

 

Another member of the Labour Party (LP) caucus in the House of
Representatives, Alfred Ajang, has defected to the ruling All Progressives
Congress (APC), becoming the sixth lawmaker to do so within a week.

 

Mr Ajang's defection was announced on Thursday by Speaker Abbas Tajudeen
during plenary.

 

In the letter read by Mr Tajudeen, the lawmaker, who represents Jos
South/East Federal Constituency of Plateau State, stated that his decision
was due to the crisis within the LP.

 

The minority bench protested the defection; however, their objections were
overruled by the speaker.

 

Minority Leader Kingsley Chinda (PDP, Rivers) argued that there is no crisis
within the party to justify the defection. He insisted that the seat should
be declared vacant in line with the constitution.

 

Gale of defections in the LP

 

Defections from the LP have become a regular occurrence over the past week.

 

Last week, Chinedu Okere (Owerri Municipal/Owerri North/Owerri West
Constituency), Mathew Donatus (Kaura Federal Constituency of Kaduna), Akiba
Bassey (Calabar Municipal/Odukpani Constituency), and Esosa Iyawe (Oredo
Federal Constituency of Edo) all defected to the APC.

 

On Tuesday, Dalyop Chollom, who represents the Barkin Ladi/Riyom Federal
Constituency of Plateau State, also joined the APC.

 

Before the 2023 general election, the LP was relatively small until former
Anambra State Governor, Peter Obi, joined and significantly boosted its
prominence.

 

However, the party has been in turmoil since the election, plagued by a
leadership tussle.

 

The defections in the House have continued to deplete the strength of its
caucus. At the beginning of the 10th House in June 2023, there were 34 LP
lawmakers.

 

Premium Times.

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2024

 


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
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been compiled from s believed to be reliable, but no representation or
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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
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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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