Major International Business Headlines Brief::: 12 January 2024

Fri Jan 12 09:49:37 CAT 2024

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Major International Business Headlines Brief:::  12 January 2024 

ü  Nigeria: Advancing Decarbonisation in Nigeria's Transport Sector for a
Net-Zero Future

ü  Africa: Five Maddening Facts About Climate Finance

ü  Somalia: A Massive Protest Erupts in Mogadishu Against
Ethiopia-Somaliland Deal

ü  Tanzania: Sugar Price to Go Down Soon - Sbt

ü  Nigeria: African Continental Free Trade Agreement Can Create GDP of
$500bn By 2035 - Moghalu

ü  Nigeria Dollar Bonds Suffer Huge Setback After Raid On Dangote

ü  Nigeria: Mike Adenuga Regains Position As Nigeria's Second-Richest Person

ü  Kenya: We Want Guaranteed Minimum Return Now, Nyeri Farmers Tell Ruto
Minister

ü  Kenya: Kalonzo Slams Kenya Kwanza for 'Hiked' Electricity Fee

ü  Seychelles: Digital Surveillance - Seychelles Parks and Gardens Authority
to Use Earthranger for Protecting National Reserves

ü  Tanzania Envisions to Cut Fuel Imports By 28 Per Cent

ü  Tanzania: Govt Satisfied With Flow Metre Progress

ü  Tanzania: With More Effort, Banana Production Can Uplift Kagera

ü  Kenya: BUWASCO Staffs Down Tools Over 10 Month Salary Arrears

ü  Kenya: Ex-Safaricom CEO Anwar Soussa Joins Airtel Africa

ü  US launches Boeing investigation after blowout

ü  Oil prices rise after Iran seizes tanker

ü  US inflation picks up more than expected in December

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

Nigeria: Advancing Decarbonisation in Nigeria's Transport Sector for a
Net-Zero Future

The transport sector is a key growth enabler for most economies due to its
crucial role in the manufacturing and logistics value chain. Consequently,
policymakers are consistently working to boost transport efficiency, which
includes ensuring access to affordable and reliable energy sources for this
critical sector. As nations race to meet their commitments to address
climate change in line with the United Nations Sustainable Development Goals
(SDGs) and the Paris Climate Agreement, transport sector decarbonisation has
emerged as a major consideration for policymakers. According to the United
Nations Environment Programme, the sector contributes roughly 25 per cent of
energy-related greenhouse gas (GHG) emissions, and its share could reach 40
per cent by 2030 without deliberate actions towards decarbonisation.

Despite Africa contributing approximately 4 per cent to global GHG
emissions, Nigeria and other African nations must carefully balance
decarbonisation efforts with strategic development objectives in key
sectors, including transportation. At COP26 in Glasgow, Scotland, Nigeria
announced a 2060 net zero target. This commitment builds on the country's
updated Nationally Determined Contributions (NDC) under the Paris Climate
Agreement, where the nation reiterated its unconditional economy-wide target
to reduce emissions by 20 per cent relative to business-as-usual by 2030,
increasing its conditional target from 45 per cent to 47 per cent. To
support the achievement of the country's climate targets, the Climate Change
Act was signed into law in November 2021. The enactment of the Climate
Change Act, providing a legislative backbone for climate governance and
emissions mitigation, underpins these targets.

To realise its net-zero ambition, Nigeria has introduced the Energy
Transition Plan (ETP), an overarching strategy detailing timelines and
mechanisms for reducing emissions across pivotal sectors, including power,
cooking, oil and gas, transport, and industry--collectively responsible for
65 per cent of the nation's emissions. The ETP anticipates a substantial
decline of about 97 per cent in transport sector emissions, propelled by the
adoption of electric vehicles in the passenger car segment by 2060.

Nigeria's ETP is unique, given its alignment with "Just Transition". This
concept highlights the need for countries to pursue decarbonisation efforts
in ways that create opportunities for segments of the population that will
be disproportionately impacted by low carbon transition. The Federal
Government seeks to leverage the ETP to lift millions out of poverty while
playing a leading role in Africa by modelling fair, inclusive and equitable
energy transition on the continent. Consequently, the ETP designates gas as
a "transitionary fuel" as the Federal Government seeks to merge its two
strategic priorities of economic development and climate action.

Embracing a gas-centric energy transition underscores the contribution of
the resource to the Nigerian economy. The strategy opens the door for
deepening domestic gas utilisation, especially in carbon-intensive sectors
like transport. The launch of the Presidential Compressed Natural Gas
Initiative (PCNGI) to facilitate the adoption of CNG, particularly in the
transport sector, is a development that aligns with Nigeria's gas-based
energy transition strategy.

The Federal Government estimates that achieving net zero by 2060 will
necessitate an outlay of $1.9 trillion, which includes an additional $410
billion over routine expenditure. Despite the formidable financial
implications, optimism prevails, buoyed by the identification of a $23
billion investment prospect within existing national programmes and projects
that are directly related to "Just Transition". The Nigeria Energy
Transition Office is actively seeking to attract the requisite investment
and support to expedite the nation's energy transition, with a significant
focus on decarbonising the transport sector--a vital step in Nigeria's
ambitious journey towards a net-zero future.

In conclusion, Nigeria's journey towards a carbon-neutral future is marked
by ambitious targets and pragmatic strategies. The Energy Transition Plan
reflects a commitment to global climate goals while addressing the nation's
unique socio-economic challenges. As the transport sector embarks on a
transformative decarbonisation process, supported by the strategic use of
natural gas and the promotion of electric vehicles, Nigeria is assuming a
leading position as a frontrunner in sustainable development in Africa. The
success of this endeavour will not only contribute to the global fight
against climate change but also herald a new era of inclusive economic
growth and environmental stewardship for the country and the African
continent at large.

Dr. Ebenezer Onyeagwu is the Group Managing Director/CEO of Zenith Bank Plc
and Chairman of the Body of Banks' CEOs in Nigeria.

This opinion was first published in the Zenith Economic Quarterly Vol. 19
No. 4 October 2023, in his column "CEO Insight".

-This Day.

Africa: Five Maddening Facts About Climate Finance

New in-depth analysis finds that less than one-third of donors' commitments
have actually been dispersed for climate projects.

The injustices of climate change are well-known and keenly felt in Africa.
The continent is responsible for just 4% of global carbon emissions yet
experiences some of the worst impacts of the crisis. Climate change made the
historic drought in East Africa, which left 20 million people hungry, 100
times more likely. It made the devastating damage wrought by Storm Daniel,
which killed thousands in Libya last year, 50 times more likely. Africa is
home to 14 of the world's 20 most climate vulnerable countries.

To correct this injustice, industrialised countries - historically the
world's largest carbon emitters - have agreed to help developing countries
finance their climate projects. The landmark 2015 Paris Agreement
acknowledged the principles of "equity" and "common but differentiated
responsibilities" in tackling climate change.

At least that's the theory. Rich countries' financial pledges to date cover
a miniscule proportion of the sums needed. The $700 million pledged to the
new Loss and Damage Fund at the COP28 climate talks, for instance, was
understandably celebrated yet accounts for less than 0.2% of the $400
billion/year needed to compensate for the irreversible harms caused by
climate change.

To add insult to injury, high-income countries make it incredibly difficult
to track how much money they're actually contributing and where it's being
spent. Climate finance reporting is a mess: it's confusing, slow, and
imprecise. We're in the fight of our lives and no one is adequately checking
and publishing the receipts.

That's why my colleagues and I at the ONE Campaign spent months cleaning and
analysing climate finance data and launched The Climate Finance Files. They
reveal in unprecedented detail how much governments and international
institutions are spending to support climate-vulnerable countries.

Here are five maddening facts we discovered.

1) Nobody knows how much climate finance is being delivered

In this age of information and digitised everything, it is astounding (and
tragic) that we lack accurate public accounting of international climate
finance. That's partly because there are no standardised reporting rules,
guidelines, or definitions that apply across all donors. Instead,
high-income countries and international financial institutions decide for
themselves what is and isn't climate finance. Depending on who's counting,
you can get drastically different numbers.

For instance, data reported to the Organisation for Economic Co-operation
and Development (OECD), which tracks and reports official flows like aid,
uses an approach that counts projects that have any climate component --
regardless of how small -- as 100% climate finance.

Data reported to the UN Framework Convention on Climate Change (UNFCCC) --
the official body tasked with collecting the data -- is meant to reduce
overcounting. But, as the chart below shows, donors' reporting methodologies
vary significantly. A few providers do what you might expect - i.e.
calculate the actual climate portion of a project and report those figures.
But the majority use simplistic shortcuts that can lead to significant
over-counting.

For projects whose main focus is climate, most donors report them as 100%
climate finance. For projects with a partial climate focus, most donors have
a certain fixed percentage that they apply to calculate how much should be
counted as climate spending. The most common fixed percentage is 40%,
followed by 50%, followed by 100%. This means that if a project only has a
small focus on climate, 40% of the total project - or even 100% in some
cases - may be counted as climate finance.

Those decisions can substantially impact climate finance figures. To
illustrate, we took 22 randomly selected projects reported to the UNFCCC by
country A, which assessed on a case-by-case basis their contribution to
climate finance. We applied two different methodologies to those projects:
for the first, we counted 100% of projects marked "principal" and 40% of
projects marked "significant"; for the second, we counted 85% of projects
marked "principal" and 50% of projects marked "significant". For the same
projects, countries using these methodologies would have reported one-third
less and one-fifth less than country A. If reported to the OECD, meanwhile,
the total would be inflated by 50%.

2) Rich countries are providing much less than they claim

Our analysis reveals that climate finance providers' claims are vastly
overstated. Nearly half of climate finance commitments counted by the OECD
are never reported as disbursed. Those commitments are either never
delivered (i.e. broken promises) or missing key data (i.e. poor accounting).

We found that between 2013 and 2021, $228 billion in climate finance
commitments had not been disbursed. For an additional $69 billion in
projects, we couldn't even find disbursements data, making progress
impossible to assess. That amounts to an eye-popping $297 billion between
2013 and 2021.

3) "Climate finance" is being used to build coal-fired power plants

The lack of standardised reporting rules enables all kinds of creative
accounting. Japan has counted the financing of coal-fired power plants as
climate finance. Both Japan and the US have used climate finance to expand
the use of natural gas. Italy has financed a chocolate shop, outfitted its
police, and -- along with the EU -- labelled counterterrorism efforts as
climate finance.

A UK announcement in October 2023 perfectly illustrates the absurdity of
letting providers decide what counts toward their targets, with no
standardised process or oversight. The UK plans to broaden its definition of
climate finance so it can take credit for providing more of it -- without
actually providing any more money. That includes applying fixed coefficients
for some of its multilateral and humanitarian aid rather than counting
actual spending, the same imprecise methodology that many other climate
providers use that often yields inflated figures.

Added together, at least $1 in every $5 of commitments in the OECD's open
dataset between 2013 and 2021 -- worth $115 billion -- is spent on things
that have little or nothing to do with climate.

Taking into account the $228 billion not dispersed and $69 billion missing
disbursement data, this means just $204 billion has actually been dispersed
for climate projects between 2013 and 2021. That is not even one-third of
the total $616 billion supposedly committed to climate finance in that
period.

4) Only a small fraction goes to the most climate vulnerable countries

The world's 20 most vulnerable countries received a total of $1.7 billion in
climate finance disbursements in 2021. That's just 6.5% of the $26.1 billion
those countries need each year to address climate change.

As a result, cash-strapped African countries are being forced to choose
between addressing climate change or investing in other pressing priorities,
like feeding, caring for, and educating their people. The Democratic
Republic of the Congo, for instance, needs $4.8 billion in climate finance
per year to implement a green energy transition and adapt to climate change
yet received just $182 million from international providers in 2021. That
enormous shortfall means its government, and many like it, have to decide
whether to underfund climate change efforts or divert support away from
other critical priorities like healthcare which, in the DRC, accounted for
just 0.7% of GDP in 2020, far below the recommended 5% threshold.

5) Many debt-distressed countries pay more in debt than they receive in
climate finance

Of the 46 (out of 54) countries with severe debt problems for which we have
debt payment data, 20 (43%) paid more in debt payments to lenders between
2019 and 2021 than they received in climate finance. Seven of those
countries are in Africa.

To make matters worse, much of the climate finance those heavily-indebted
countries receive is in the form of new debt. More than half (58%) of all
climate finance disbursed to the 54 countries with severe debt problems
between 2019 and 2021 was in the form of loans. Nearly $1 in every $4 of
climate finance for those countries was a non-concessional loan (loans at,
or close to, market rates). That risks deepening those countries' debt
problems and jeopardising their ability to meet their citizens' needs and
tackle climate change.

It doesn't need to be this way. Incredible progress in our ability to track
and share complex data means that we have the ability to track -- with
precision -- every dollar being spent on climate. Not doing so is a
political choice. And it's one that must change.

African governments should pressure donor governments and international
financial institutions to agree to and implement a robust, standardised
reporting system. That way they -- and importantly, their citizens -- can
know how much money is available to address climate change and monitor its
use. The climate crisis is too urgent and too critical to continue to allow
climate financing to happen in the dark.

-

Somalia: A Massive Protest Erupts in Mogadishu Against Ethiopia-Somaliland
Deal

Mogadishu, Somalia — Thousands of people took to the streets in Somalia's
capital, Mogadishu, on Thursday to protest against the sea access deal
between Ethiopia and Somalia's breakaway region of Somaliland.

The protesters gathered at the Eng. Yariisow Soccer Stadium in Mogadishu
after marching through different streets.

Senior government officials including Interior Minister Ahmed Moalim Fiqi,
members of Somalia's both houses of parliament and the mayor of Mogadishu
Yusuf Hussein Jimaale attended the rally and condemned the sea access deal.

The protesters were carrying placards reading "Somali belong to Somalia" and
"our seas are not for sale."

The protesters accused Ethiopia of meddling in Somalia's internal affairs
and trying to divide the Somali people. They also called for the
international community to intervene and stop Ethiopia's aggression.

East African regional body Igad has expressed "deep concern" over tensions
between Ethiopia and Somalia, warning of potential implications for regional
stability.

The demonstration was peaceful and no incidents of violence were reported.
The Somali security forces were deployed to maintain order and protect the
protesters.

-Shabelle.

Tanzania: Sugar Price to Go Down Soon - Sbt

DAR ES SALAAM: The retail price of sugar is expected to start going down
starting next week when the first part of the consignment to beef supply
enters the market.

According to the Sugar Board of Tanzania (SBT), to cushion the demand the
government approved the importation 50,000 tonnes to increase supply after
the production was affected by El Nino rains in the fourth quarter of last
year.

The SBT Director of Regulatory Services, Mr Lusomyo Buzingo, told the 'Daily
News' yesterday of behalf of his Director General Prof Kenneth Bengesi that
the production of sugar was interrupted by heavy rains the country
experienced last November but the manufacturers have since resumed
production.

"Part of the imported consignment is expected to enter the country from
mid-next-week...to calm the price to normal," Mr Buzingo said. The
importation was approved for two months only--January and February.

He said sugar producers did not raise the factory price rather are
wholesalers and retailers and they are planning to take some measures.

The retail price of sugar is between 3,800/- and 4,300/- currently from
2,800/- and 3,500/- fortnight ago.

The producers halted production after failing to access their shambas for
sugarcane after the torrential rains damaged infrastructures.

He said the government gave the sugar import approval to Mtibwa Sugar,
Kilombero Sugar/Illovo, Bagamoyo Sugar, TPC Limited and Kagera Sugar. The
manufacturers have already imported the sugar which is part of the 50,000
tonnes.

"We hope that the consignment will cushion the demand and lower price
further, especially after producers resume production," said Mr Buzingo.

All sugar factories stop production due to heavy rains though Kilombero and
Kagera continued with production since were partially affected.

Ministry for Agriculture said the sugar output dropped last November by 30
per cent due to heavy rains that made it hard for the sugarcane to be
harvested and promised price would go back to normal within 30-60 days.

The ministry further said that sugar production is expected to reach 550,000
tonnes this year if the temporary challenges of rain are solved.

-Daily News.

Nigeria: African Continental Free Trade Agreement Can Create GDP of $500bn
By 2035 - Moghalu

A former deputy governor of the Central Bank of Nigeria CBN, Kingsley
Moghalu said the African Continental Free Trade Agreement can create an
additional GDP of almost $500 billion by 2035.

Moghalu stated this in an interview with Channels Television's Politics
Today on Thursday.

The African Continental Free Trade Agreement can create an additional GDP of
almost $500bn by 2035 and take about 30m Africans out of poverty, says a
former CBN deputy governor Kingsley Moghalu. #CTVTweets#PoliticsToday
pic.twitter.com/UIvzY5hTFA-- Channels Television (@channelstv) January 11,
2024

"The African Continental Free Trade Agreement can create an additional GDP
of almost $500 billion by 2035 and take about 30 million Africans out of
poverty," he said.

The former CBN deputy governor added that the deal could take about 30
million Africans out of poverty.

- Vanguard.

Nigeria Dollar Bonds Suffer Huge Setback After Raid On Dangote

Nigeria's dollar bonds maturing 2025 have fallen for seven consecutive days
for their longest, losing streak since September.

According to Bloomberg, this suggests that investors are watching what
happens next between Dangote and the Economic and Financial Crimes
Commission (EFCC).

Last week, EFCC operatives raided the headquarters of the Dangote Group in
connection with ongoing investigation into forex allocations in the country.

The company had described the raid as embarrassing, denying any wrong doing.
The Manufacturing Association of Nigeria had said the raid was badly
managed.

The bonds are now at their lowest levels since November 28 according to
Bloomberg data and the loss of appetite for Nigerian bonds provides strong
basis for worries expressed by

A Bloomberg report said last week's raid has sent panic through the
country's boardrooms.

-Daily Trust.

Nigeria: Mike Adenuga Regains Position As Nigeria's Second-Richest Person

Telecom billionaire Mike Adenuga has regained the position of Nigeria's
second-richest person with a net worth of $7.4 billion, surpassing Abdul
Samad Rabiu, who is now in the third position.

Forbes re-evaluated the worth of Adenuga's mobile phone network, Globacom,
contributing to the surge in his wealth. Initially, Adenuga had slipped to
the third position due to a considerable drop in his net worth. However, the
recent reassessment by Forbes restored him to the second-richest position in
Nigeria, just behind Aliko Dangote.

Earlier in June 2023, Adenuga faced a significant decline in net worth,
dropping to $3.6 billion, influenced by factors such as the unification of
the naira and a downturn in the performance of his stake in Conoil.

Chairman of Conoil and founder of Globacom, Adenuga's net worth has
experienced fluctuations, reaching $7.3 billion in 2022 and a peak of $10
billion in 2015.

Despite his billionaire status, Adenuga's career has encountered challenges,
including a recent partial disconnection of Globacom by MTN over
interconnect debt.

Globacom Ltd. disputes any outstanding interconnect charges owed to MTN,
asserting that the purported N1.6 billion had been paid without dispute.

Reflecting on 2006, Adenuga faced scrutiny from the Economic and Financial
Crimes Commission (EFCC) over a money laundering case, leading to his
implication and detention. He chose to leave the country and reside in
London until late President Umaru Musa Yar'Adua granted him a pardon.

In June 2016, new challenges arose as Adenuga was pursued for a debt
exceeding $140.5 million by foreign and local entities. Conoil, under
Adenuga's ownership, defaulted on payments to creditors, including Total.
Another company, Bellbop, faced a court injunction for failing to settle a
$9.4 million debt to Baker Hughes.

Adenuga's financial struggles affected creditors, leading to operational
issues for companies like Depthwize, a local oil servicing company, which
had to lay off workers and suspend services on Conoil's rigs due to a $40
million debt.

Despite challenges, Adenuga remains committed to philanthropy. The Mike
Adenuga Foundation allocates nearly $20.5 million in scholarships and aid
annually, supporting students worldwide. In 2011, he donated N500 million to
aid flood victims in Bayelsa State, Nigeria. In response to the COVID-19
pandemic, Adenuga contributed N1.5 billion towards virus-combatting efforts
and donated $250,000 to Nigeria's football team, the Super Eagles.

-Leadership.

Kenya: We Want Guaranteed Minimum Return Now, Nyeri Farmers Tell Ruto
Minister

Nyeri — Coffee farmers in Nyeri have demanded the immediate implementation
of Guaranteed Minimum Returns (GMR) for their produce as promised by
President William Ruto's campaign in 2022.

The farmers joined by local leaders said it was time the Kenya Kwanza
administration delivered on its promise to reward them for turning out to
vote for the governing coalition.

"As farmers we woke up very early to vote for this administration but I am a
disappointed man," Peter Thandi, a farmer from Mukurwe-ini said during
cherry advance launch at Karatina Stadium.

"You promised GMR for our crop. We hear now you want to give us cherry
advance of Sh80 in pieces. It is good but we need to know what is the
minimum pay for our crop so that we can be contented."

His sentiments were echoed by Mathira MP Eric Wamumbi who said that farmers
need GMR and waiver of their debts .

"These farmers want guaranteed pay for their crop. They also want waiver of
their debts. This is the only way to pacify them," said Wamumbi.

Nyeri Woman Representative Rahab Mukami was more bold saying debts owed by
coffee farmers should be written off like the government has done in the
past for farmers in the sugar sector.

"Coffee farmers from this region are finding it hard to pay their debts. I
was with the President when sugar cane farmers had their debts written off;
we need this in coffee sector to spur the industry," said Mukami.

Increased funding

Nyeri Senator Wahome Wamatinga was of the opinion that the Cherry Fund
should be increased twofold from Sh6.7 million to Sh12 million.

"As a government, we should increase the fund so that farmers will be
cushioned when prices are low. Market forces should not make them beggars
yet they voted for us," Wamaringa said.

Mukurwe-ini lawmaker John Kaguchia called for establishment of demonstration
farms in all factories where farmers will generate income to take care of
overhead costs.

On efforts to increase production, the farmers called for the return of
subsidized farm inputs such as chemicals and fertilizer saying they are
unable to improve production due lack of farm inputs in part due to harsh
economic times.

When he rose to speak, Cooperatives Cabinet Secretary Simon Chelagui angered
farmers by proposing to stagger Cherry Fund payments into two; Sh40 for
factory delivery and the reminder for delivery at the mills.

-Capital FM.

Kenya: Kalonzo Slams Kenya Kwanza for 'Hiked' Electricity Fee

Nairobi — Wiper leader Kalonzo Musyoka has protested what he terms as a 16
percent electricity price increase saying it will affect Kenyans adversely.

While blaming the Kenya Kwanza government for the move which he said
affected Kenyans adversely, Musyoka described it as unacceptable.

He indicated further that it increased the cost of living and Kenyans were
"tired, hungry and angry."

"The 16 percent increase in tokens by @KenyaPower is the latest unacceptable
burden on tired, hungry and angry Kenyans. This is the cleared example of
the KK regime's inability to address the cost of living," he stated.

"They want to leave us in the dark, but I am telling them, know kuna nuru
gizani,"he wrote on his X platform.Electricity token prices have increased
due to surcharges including the fuel cost charge and the foreign exchange
rate fluctuation adjustment which have soared due to the weakening shilling.

Consumers are expected to pay 16.5 percent increase in electricity prices
due to fuel charge increase as well as adjustment on foreign exchange rates.
The prices are now up to Sh4.33 a unit from Sh 3.98 in December 2023.

-Capital FM.

Seychelles: Digital Surveillance - Seychelles Parks and Gardens Authority to
Use Earthranger for Protecting National Reserves

The Seychelles Parks and Gardens Authority (SPGA) has taken steps to
revolutionise its operation by implementing a new digital system covering
the different protected areas it manages.

The chief executive of the SPGA, Allen Cedras, said that Authority has
partnered with a Kenya-based organisation as it begins to make use of the
EarthRanger. A team from the SPGA is attending an EarthRanger training in
Kenya.

"It will help us in general in terms of coastal surveillance, terrestrial
surveillance, and with all of our marine parks. It can be used broadly by
the Seychelles Fisheries Authority as well as with the Maritime Spatial
Plan. We are now concentrating on creating the profiles of our parks as well
as preparing our infrastructures for full implementation in 2024," explained
Cedras.

He told SNA recently that the SPGA has already visited 51 Degrees,
EarthRanger's partner in Nairobi, Kenya, which is supporting them with this
project, where they had the chance to gain in-depth insight into how the
software works. It is a real-time software solution from the Allen Institute
in the United States.

With the implementation of EarthRanger, which comes with another software,
Skylight, the SPGA will become the first organisation in the island nation
to use such technology.

This software solution aids protected area managers, ecologists, and
wildlife biologists in making more informed operational decisions for
wildlife conservation. The software collects, integrates, and displays all
historical and real-time data available from a protected area - including
wildlife, ranger patrols, spatial data, and observed threats.

Among its many functions, EarthRanger can be used for security operations
with a visualisation capability that allows managers to gain a real-time,
in-depth understanding of activities related to poaching and other threats,
as well as for monitoring natural habitats--including wildlife, forests, and
other landscapes--through sensors, ranger observations, and field data to
effectively manage these conservation areas.

Some of the key benefits and functions of EarthRanger include limited
real-time alerts and access to data as well as enhanced wildlife habitat
protection.

The Seychelles Parks and Gardens Authority is responsible for the management
of marine and terrestrial national parks with associated trails and gardens
in Seychelles, which are 115 islands in the western Indian Ocean.

"We will use the software to collect all our operations data regarding our
boats, boats that visit our marine parks, the frequency of their visits,
receive real-time images through cameras connected to the system, the number
of visitors to our sites, capture poaching incidents as well as collecting
scientific data for our monitoring," said Cedras.

He added that a mini command centre will be set up at Perseverance, next to
the capital Victoria, which will connect all its stations.

"We are prioritising and will start with all our marine parks, but in the
second phase, we will concentrate on terrestrial parks, where we will set up
sensors; these are very crucial for us in terms of forest fires, as we need
to protect our ecosystems."

There are two types of sensors being used: one type to detect fires and
another to detect people visiting different sites.

SPGA has already started to set up some components that will link up with
the EarthRanger system at the newly renovated Anse Major trail. There is a
camera at the entrance of the trail, which will provide information on
persons going in and exiting the trail.

The implementation of the EarthRanger and Skylight software by the SPGA is
being funded by the Seychelles Conservation and Climate Adaptation Trust
(SeyCCAT).

-Seychelles News Agency.

Tanzania Envisions to Cut Fuel Imports By 28 Per Cent

Zanzibar — TANZANIA: TANZANIA envisions to cut fuel imports by 28 per cent
come 2050 following the increasing exploration and drilling of local natural
gas.

Deputy Prime Minister and Minister for Energy Dr Dotto Biteko revealed that
on Wednesday, after witnessing the signing of the cooperation agreement for
the natural gas project in the Ruvuma block (Mainland) between the Tanzania
Petroleum Development Corporation (TPDC) and Ndovu Gas Drilling Company.

The event also involved the signing of documents for establishing relations
to build infrastructures to distribute the natural gas. Dr Biteko is in
Zanzibar for the 60th anniversary of the 1964 revolution celebrations which
will climax tomorrow (January 12).

Elaborating, he said the government through his office has been taking
different measures to ensure availability of natural gas for people and
industries to reduce fuel dependence in the country.

"The strategy of the Ministry of Energy is to ensure the implementation of
the gas policy, which includes ensuring wide distribution of clean energy
and reaches various customers easily and affordably. As a nation we should
look into things that will quickly get people out of poverty," Dr Biteko
said.

He said that currently 80 per cent of the gas produced in the country is
used as a source of electricity to generate power, while 38 per cent is for
industrial use and 10 per cent for domestic use.

In addition, Dr Biteko said that in order to reach many people, there is a
need to covert gas into liquid and transport it in different parts of the
country.

Explaining about the project, TPDC Director General Mr Mussa Makame said
that the signed project will increase availability of natural gas and
definitely contribute to the country's economic growth. He said that
currently a total of 1.6 billion cubic feet have been explored and tested,
adding that this year, TPDC, in collaboration with the companies that signed
the agreement, has planned new drilling points to increase the amount of gas
produced.

"The new project is expected to produce 60 million cubic feet per day up to
140 million feet in the first three years," he said, adding that after
completion of the contract will enable other activities to be carried out,
including the drilling of wells to produce gas.

He said that under the new cooperation, there will be construction of
infrastructures to collect gas from the wells, the infrastructure for
initial transportation, including the construction of a 34-kilometre
pipeline to transport gas from Gas collection point to the gas processing
plant located in Mtwara.

As regards to the construction project of the infrastructure to convert
natural gas into liquid, he said that the project will be the first to be
implemented in the country and a milestone in the energy sector.

On his part, Mtwara Regional Commissioner (RC), Ahmed Abbas said that the
project will be sustained for the people at the source of the gas drilling
areas and the nation in general.

-Daily News.

Tanzania: Govt Satisfied With Flow Metre Progress

DAR ES SALAAM: DEPUTY Minister for Energy, Ms Judith Kapinga has expressed
satisfaction with the progress of the construction of flow metres and new
oil storage barrels at the Dar es Salaam Port, assuring that that the work
will be completed as planned.

Ms Kapinga made the remarks after she toured and inspected the construction
work of the facilities at the port.

She said the completion of the work will increase efficiency on fuel storage
because it will increase the amount of oil being stored and reduce
congestion of oil tankers at the port.

The visit was made in response to instructions given by Deputy Prime
Minister and the Minister for Energy in October 2023, during his visit to
the agency. He emphasised the importance of completing the construction of
the new infrastructure, specifically the flow meter, on time without
compromising its performance.

The flow meter is fully owned by the government, while the new barrels are
jointly owned by the government through its oil storage company, Tanzania
International Petroleum Reserves (TIPER) and the Orxy Company. These barrels
have a capacity to store 60 million litres of oil.

Following the inspection, Ms Kapinga had a meeting with the agency's Board
of Directors and management. During the meeting, she instructed them to
explain to the public the responsibilities they have in serving Tanzanians.

She urged the Petroleum Bulk Procurement Agency (PBPA) to utilise various
communication channels, including the media, meetings and speeches to ensure
that information reaches all citizens quickly and effectively.

The Chairman of the PBPA Board, Engineer Lutengano Mwakahesya and the Chief
Executive of PBPA, Erasto Simon, assured the Deputy Minister that they had
received and understood all the instructions, and they committed to taking
appropriate action.

Accompanying the Deputy Minister during the visit were the Deputy Secretary
General of the Ministry of Energy, Athumani Mbuttuka and other senior
leaders from the Ministry of Energy and PBPA.

-Daily News.

Tanzania: With More Effort, Banana Production Can Uplift Kagera

Bukoba — KAGERA: BANANA-coffee-based farming systems in Kagera Region have
developed over the past millennium, and fertile farming systems ensured the
food supply of the local population until the 1960s.

Since then, however, soil resources and vegetation have been degraded,
jeopardising food security for small holder farmers. Former Minister for
Land, Housing and Human Settlement Development, Prof Anna Tibaijuka has
expressed her desire to increase cash and food crops production in a bid to
meet local demand and supply to international markets.

She appealed for joint efforts to transform the agricultural sector,
including revival of the traditional 'Kibanja farming system' in Kagera
Region. Prof Tibaijuka, an economist and former UN Habitat Executive
Director, explained that Kagera Region has conducive weather suitable for
production of various crops that were on high demand, including avocado,
maize, sunflower and sugarcane.

"We should exploit suitable markets in the neighbouring countries where such
crops are in high demand. The region is endowed with fertile soil and
untapped valleys suitable for irrigation schemes. Kagera Region is also
suitable for banana production, with capacity to increase the annual
production from 600,000 metric tonnes to over 1 million metric tonnes," she
said.

Kagera Region shares borders with four East African Community (EAC) nations,
namely Rwanda, Burundi, Uganda and Kenya cross Lake Victoria. She appealed
to the youth to exploit available agricultural opportunities instead of
blaming the government for unemployment, assuring them that the agricultural
sector offers many employment opportunities.

For many decades, Kagera Region has been identified in the minds of most
Tanzanians as a banana and land of coffee. It is also identified as one of
the regions favoured by early contacts with European missionaries. The
others are Kilimanjaro and Mbeya Regions. The agricultural sector has
consistently been dominant in the regional economy.

However, several villages in Kagera region were recently attacked by the
banana disease known as Xanthomonas Wilt (BXW), something that has made
authorities to caution farmers to take necessary precaution, including
uprooting the affected banana trees.

The outbreak of BXW and other crop diseases has caused panic among farmers.
Banana Xanthomonas wilt (BXW), is a limiting factor for banana production in
Kagera. Farmers classify land use into three main categories, namely
Kibanja, Kikamba and Rweya.

The Kibanja is the archtype of the citizens' prosperity, where farmers grow
bananas inter-planted with coffee, maize, beans and root and tuber crops.
Kibanja is a mix-cropped garden based on banana and coffee stands. Kagera
farmers cultivate and grow various kinds of crops, trees, spices and local
herbs in each Kibanja. Major crops grown in Kibanja, besides banana and
coffee, are maize (Zea mays) and common bean (Phaselous vulgaris), an
essential indigenous protein source for the diet.

The kibanja is also the place for cultivation of two coffee varieties,
namely Coffee Arabica and Coffee Robusta which is claimed to be indigenous
in African Equatorial forests and was the first coffee to be grown on a
commercial basis in Kagera region.

At the end of the nineteenth century, Coffee Arabica was introduced by
missionaries as a commercial crop, and both varieties were originally
inter-planted with bananas and have been grown as monoculture. Both Robusta
coffee and Arabica coffee thrive on a slightly acidic soil, fairly rich in
humus and well drained.

Both varieties need nearly the same amount of rainfall, about 1765 mm (75
inches), if the conditions are to be ideal. Robusta grows best in hot humid
climate up to an altitude of 3500 feet (1350 m), whereas Arabica thrives
better in a cooler climate and is mainly grown from 1200 to 1500 m.

Some of the indigenous food crops and plant species in Kibanja apart from
bananas (musa spp) include yams (ekilai-Dioscorea alata), cocoyam
(ekikwara-Xanthosoma sagitifohum), cassava (ekigando-Manihot esculenta),
pumpkin (omwongo-Cucurbita moschata), yellow yam (kashuli-D. cayenensis) and
African eggplant (entongoSolanum macrocarpon).

Trees friendly to Kibanja farming system include cator (omujuna-Ricinus
communis), red-hot poker (omulinziErythrina abyssinica), guava
(omupera-psidium guavaja), markhamia (omushambya markhamia lutea), ficus
(omujuju-ficus sp) and African oil palm (omumeshe-elaeis guineensis).

The banana farming system in Kagera is confronted with declining
productivity contributed by shortage of external inputs such as mulch from
grassland the source of organic materials for home gardens. In Tanzania,
production of bananas hit a record of 3,407 metric tonnes in 2018/2019
season.

There was minimal growth in comparison to the preceding season, when 3,396
metric tonnes of bananas were produced. Banana is part of the staple diet in
Tanzania and one of the ten main food crops in the country. In Tanzania,
most of the bananas (over 70 per cent) are grown in Kagera, Kilimanjaro and
Mbeya regions.

Other regions producing a significant of bananas are Morogoro, Kigoma, Mara,
Arusha, Manyara, Ruvuma, Tanga and Coast.

The global export value of the banana trade was estimated to be 8.9 billion
US dollars before the outbreak of the Covid-19 pandemic, with a retail value
standing between 20 billion US dollars and 25 billion US dollars annually.

And at 8.9 billion US dollars, bananas grown for export are only a fraction
of the 44.1 billion US dollars in annual banana and plantain production - in
fact, bananas are the fourth-most valuable global crop after rice, wheat and
milk.

Food and Agriculture Organisation (FAO)'s data shows that nearly nine-tenths
of the world's bananas are eaten in poor countries, where at least 400
million people rely on them for 15 to 27 per cent of their daily calories.

-Daily News.

Kenya: BUWASCO Staffs Down Tools Over 10 Month Salary Arrears

Busia — The Busia Water and Sewerage Company has today downed their tools of
trade and locked up the offices main door in protest of unpaid salary
arrears accusing the county government of Busia of payment defaults.

In a move of solidarity, the more than 80 BUWASCO staff ran out of options
and locked up the main office door demanding their 12months salary arrears
and called on the governor Otuoma to intervene.

Addressing the press at the department of Water environment and natural
resources, the irate workers led by Stanley Juma accused the water and
Sewerage Company management of not remitting their statutory deductions as
well.

"Salaries have been gradually delaying for the last 12 months. You can
imagine its now January students are going to school and we can not take our
children to.school since we have nothing, we also have needs that we need to
cater for. We won't resume until salaries are paid," Juma said.

Juma however alleged that their financial predicaments are largely catalysed
by the County Government of Busia departments failure to pay their Water
bills amounting to more than Kshs. 13milion, adding that better the days
they were under kakamega.

"The facility lacks basic essentials among them chemicals which is very
important for water to be treated and be clean, another thing they lack is
electricity since it is used to pump water continually," he said.

In a quick rejoinder, County CEC for Water, Environment and Natural
Resources Eng. Andrew Messo confirmed the workers' demands are genuine and
promised to engage the BUWASCO board to solve the impasse with immediate
effect for smooth and effective running of the company that has had a big
share of financial challenges.

"We as a county we have come up with a board that will take care of the
matter and make sure all the arreas have been paid, but for the electricty
it has been paid ,we are trying to finish up with the arreas we inherited
from past few years and the issue will be sorted," said Messo. The companies
problems is dated back after devolution when the company branched from Lake
Victoria water company, and ever since the payment to workers and other
office equipments has remain a nightmare. - Kna

-Capital FM.

Kenya: Ex-Safaricom CEO Anwar Soussa Joins Airtel Africa

Nairobi — Former Safaricom Ethiopia CEO Anwar Soussa has joined Airtel
Africa as its Regional Operations Director for the Franco markets.

Soussa was the founding CEO of the Ethiopian unit since 2021 and was tasked
with leading the establishment of the organization, setting up business
operations, and rolling out a high-quality network.

His departure from the telco last year was announced by Safaricom Kenya CEO
Peter Ndegwa.

Soussa will be responsible for the seven Franco markets, such as the
Democratic Republic of Congo, Congo Brazaville, Chad, Niger, Gabon,
Madagascar, and Seychelles, within the Airtel Africa Group based in Dubai,
United Arab Emirates.

In 2022, a Safaricom consortium got a license to enter the Ethiopian market
after bidding Sh91.8 billion.

It was later awarded a license from the Ethiopian government to roll out
M-Pesa services in the country in the same year.

-Capital FM.

US launches Boeing investigation after blowout

Airline regulators in the US have formally launched an investigation of
Boeing's processes, after a door plug blew off one of its planes.

The Federal Aviation Administration (FAA) said it would examine whether
Boeing failed to ensure its completed jets matched their approved design.

The FAA had already grounded most of the 737 Max 9 fleet for inspection.

The reviews after the emergency on the Alaska Airlines flight have uncovered
issues such as loose bolts.

"This incident should have never happened and it cannot happen again," the
FAA said. "Boeing's manufacturing practices need to comply with the high
safety standards they're legally accountable to meet."

Boeing said it would "cooperate full and transparently" with the
investigation.

Company boss, Dave Calhoun, had previously described the problem as a
"quality escape". It means the incident was caused by some failure in
quality control in the plane, which had been in service for just eight weeks
before the blowout.

Media caption,

Watch: 'Trip from hell': On board flight during mid-air blow out

He told CNBC there were still questions that needed to be answered about how
the incident was allowed to happen.

"What broke down in our gauntlet of inspections? What broke down in the
original work that allowed for that escape to happen," he said.

The door plug is a piece of fuselage, with a window, that fills the space
where an emergency exit would be in certain configurations.

The part broke off a Boeing 737 Max 9 jet that was operated by Alaska
Airlines minutes after its take-off from Portland, Oregon on Friday.

No serious injuries were reported after an emergency return to the airport
but the FAA on Saturday grounded 171 planes that had the same door plug
installed.

It is unclear when the planes will be allowed to fly again.

Transportation Secretary Pete Buttigieg has said the government would not be
rushed into clearing the grounded planes, despite hundreds of flight
cancellations.

He said the aircraft "need to be 100% safe".

"The only consideration on the timeline is safety," he said. "Until it is
ready, it is not ready. Nobody can or should be rushed in that process."

Alaska Airlines has cancelled about 20% of its flights after 65 of its Max
9s were grounded. United Airlines, the other major US 737 MAX 9 operator,
has 79 of the planes in its fleet out of action.

It said it expects "significant" cancellations on Thursday after 167 flights
did not go ahead on Wednesday.

Alaska Airlines said it still needed revised inspection and maintenance
instructions from Boeing, which must be approved by the FAA before it can
begin flying the planes again.

"We will only return these aircraft to service when all findings have been
fully resolved and meet all FAA and Alaska's stringent standards," the
airline said.

Both Alaska and United said on Monday they had found loose parts on a number
of the grounded aircraft.

Media caption,

Watch: Teacher ‘pretty surprised’ to find plane panel in yard

The part which fell off was eventually found in a teacher's back garden
without its four bolts.

Jennifer Homendy, the chair of the National Transportation Safety Board,
which is investigating what happened on the flight, said on Monday it was
possible the bolts were missing from the start but they might have come off
in the descent.

The incident has revived scrutiny of Boeing, which has been trying to repair
its reputation after crashes in 2018 and 2019 involving a different version
of the 737 Max plane killed 346 people.

Its popular 737 Max planes were subsequently grounded globally for more than
18 months. It has reported a string of smaller issues as production resumed.

Oil prices rise after Iran seizes tanker

Oil prices have risen after Iran seized a tanker off the coast of Oman,
raising concerns fuel prices could increase.

The oil tanker was heading for Turkey on Thursday when armed men ordered it
to sail to an Iranian port.

The price of Brent crude oil jumped by more than 2%, to $78.40 a barrel
following the incident.

Meanwhile, the UK government has modelled scenarios suggesting the
disruption in the Red Sea could further shrink the British economy.

The BBC understands the Treasury has considered a rise of at least $10
(around £7.83) per barrel in the international price of crude oil and a 25%
increase in the price of natural gas.

Europe, in particular, is now more dependent on exports of gas coming
through the Gulf and the Straits of Hormuz.

The seizure of the oil tanker by Iran, reported by local state media as
retaliation for the hijacking last year of the same vessel by the US, raises
prospects of growing conflict in the Middle East, which could have a
knock-on effect on UK fuel prices.

A rise in oil prices can lead to higher prices at the pumps and also drive
higher inflation. Inflation, which measures the pace of price rises, has
been falling in the UK and is currently 3.9%.

The average price of a litre fell below £1.40 on Thursday for the first time
since October 2021, according to motoring group, the AA.

Diesel now averages 147.83p a litre across the country, down to a level last
seen in early August.

This time last year, petrol and diesel averaged 149.47p and 171.93p a litre
respectively.

"Drivers should be ready for pump price volatility, perhaps even a shock,
but current pump prices are a huge relief for consumers and inflationary
pressures," the AA's Luke Jones added.

Iran warned it would respond to the US seizure of the same vessel, which
sailed under the name Suez Rajan, last year

This most recent incident appears to be separate from attacks carried out by
Houthi rebels from Yemen in the Red Sea, on the opposite side of the Arabian
peninsula.

Iranian Navy seizes oil tanker near Oman

What do Red Sea assaults mean for global trade?

But as Caroline Bain, chief commodities economist at Capital Economics
points out, the reaction in the oil market has been fairly muted to these
attacks and the Israel-Hamas war.

"Initially, when the war broke out, there were fears that some of the major
oil producers in the region - particularly Iran, but also Saudi Arabia -
would become actively involved," she said.

However, this no longer appears as likely and the risk of disruption to oil
supply has been reduced. Demand for oil has dropped, following the slowdown
in the EU and US economies and lack of growth in China, so there is less
fear of supply shortfalls.

Conversely, there has been a "surprisingly strong growth in US oil
production in 2023 and in some other non-OPEC producers such as Brazil and
Guyana," Ms Bain said, which has "allayed fears of disruption to Middle East
supply."

"If there were a further escalation in tensions in the Middle East/Red Sea,
I think prices would rise more markedly," she added.-bbc

US inflation picks up more than expected in December

Consumer prices in the US rose again in December, driven by higher costs for
housing, dining out and car insurance.

Inflation - which measures the rate at which prices are increasing - hit
3.4% over the year, the Labor Department said.

It was up from 3.1% in November, accelerating more over the month than many
analysts had expected.

The figure is likely to keep the US central bank cautious about declaring
victory in its fight against inflation.

The US Federal Reserve has an inflation target of 2% and, until last summer,
had been raising interest rates to cool price rises.

Seema Shah, chief global strategist at Principal Asset Management, said the
latest inflation figures are "not bad numbers, but they do show that
disinflation progress is still slow and unlikely to be a straight line
down".

Inflation in the world's largest economy has dropped sharply since peaking
at 9.1% in June 2022, when the war in Ukraine sent energy costs soaring.

Despite the uptick in December, many analysts said they expected inflation
to improve in the coming months.

"This is another [Consumer Price Index] report that shows inflation has
moderated and will likely continue to decelerate," said Ronald Temple, chief
market strategist at Lazard.

But while price increases for goods have cooled, as supply bottlenecks from
the pandemic clear, the report suggests that progress in other areas is
proving more difficult, said Brian Coulton, chief economist at Fitch
Ratings.

Prices for car insurance were up 20% compared with December 2022 while rents
climbed 6.5%, according to the US Labor Department.

It said that grocery prices gained a modest 1.3%, which compares to a 5.2%
rise in prices for people choosing to dine out.

The cost of some food to eat at home soared, with steak up 11% over the
year.

US inflation

Mr Coulton said the report suggested that hopes that the Federal Reserve
will move quickly to begin cutting interest rates could prove premature.

"This will give the Fed grounds for caution and they are unlikely to cut
rates as quickly as the markets currently expect," Mr Coulton said.

For now, the improvement in the situation has largely failed to persuade the
American public, which continues to report glum economic sentiment.

Last year, high petrol prices prompted 28-year-old Harish Kunchala to halt
his regular car journeys to see his brother.

Mr Kunchala, who is pursuing a graduate degree in computer science in
California, said he has since resumed visits to his sibling but still felt
budgetary stress in other areas. , He and his roommates keep lists in their
apartment trying to keep track of where to find the best prices for meat and
other items.

Harish Kunchala said he is still feeling hit by higher prices despite
inflation easing from highs

"If it's not one thing, it's the other," he said.-bbc

Invest Wisely!

Bulls n Bears 

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