Major International Business Headlines Brief::: 05 June 2024

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

 <http://www.bullszimbabwe.com> Bullszimbabwe.com         <mailto:info at bulls.co.zw?subject=View%20and%20Comments> Views & Comments        <https://bullszimbabwe.com/category/blogs/bullish-thoughts/> Bullish Thoughts        <http://www.twitter.com/BullsBears2010> Twitter         <https://www.facebook.com/BullsBearsZimbabwe> Facebook           <http://www.linkedin.com/pub/bulls-n-bears-zimbabwe/57/577/72> LinkedIn          <https://chat.whatsapp.com/CF6wllAfScU9Wr6dXxoQnO> WhatsApp         <mailto:bulls at bullszimbabwe.com?subject=Unsubscribe> Unsubscribe

 


 

 


Major International Business Headlines Brief:::  05 June 2024 

 


                                                                                  

 

	
 


 

 


 

ü  Paris Hilton among users targeted in TikTok hack

ü  India stocks see biggest fall for over four years

ü  Instagram tests forcing users to watch adverts

ü  War will drive a decade of arms restocking, says firm

ü  King Charles banknotes enter circulation

ü  South Africa: Gauteng Faces Water Cuts for Planned Maintenance 

ü  South African Airways Among Carriers Fined Millions for Delayed Refunds

ü  Nigeria: Minimum Wage - Give Costs to Govt Today, Tinubu Orders Finance Minister

ü  Nigeria: Solid Mineral Sector in One Year of Tinubu's Administration - the Journey So Far

ü  Nigeria: Minimum Wage - Tinubu Demands Realistic Proposal in 48 Hours

ü  Nigeria: Petroleum Training Institute Matriculates 1,793 Students

ü  Nigeria: What Is Nigeria Doing to Stop Chronic Oil Theft?

ü  Ethiopia: Electric Vehicle Factory Inaugurated in Debre Birhan, Amhara Region of Ethiopia

 


 

 


 <https://www.cloverleaf.co.zw/> Paris Hilton among users targeted in TikTok hack

TikTok says it is addressing a cyber-attack that targeted brands and celebrities, including Paris Hilton and CNN.

However, the video-sharing app told the BBC that a "very limited" number of accounts had been compromised.

It added that it was working with users to restore access to their accounts.

TikTok, which is owned by Chinese company ByteDance, did not share further details on cyber-attack, such as how it was carried out.

 

A TikTok spokesperson said Ms Hilton's account was targeted, but it was not compromised.

The reality TV star, who has more than 10 million followers on TikTok, is an active user of the platform.

The account of news broadcaster CNN has been compromised, however.

 

"We have been collaborating closely with CNN to restore account access and implement enhanced security measures to safeguard their account moving forward," TikTok said.

 

"We are dedicated to maintaining the integrity of the platform and will continue to monitor for any further inauthentic activity."

CNN did not immediately respond to a BBC request for comment.

 

CNN's account was compromised, according to TikTok

The news comes as TikTok is facing a ban in the US, unless it is sold by its Chinese parent company.

TikTok has millions of users worldwide, but has faced questions over the security of users' data and its links to the government in Beijing.

 

It is also emerging as a new social media battleground for the US elections.

Earlier this month, Donald Trump joined TikTok, despite attempting to ban it on national security grounds during his presidency.

 

Trump, who has amassed more than five million followers since launching his account on Saturday, said he will use "every tool available to speak directly with the American people".

President Joe Biden is also using the platform to campaign for re-election in November, but he has only picked up around 350,000 followers - far fewer than his rival.-BBC

 

 

 

India stocks see biggest fall for over four years

Indian stocks have fallen sharply after vote counting in the country's general election indicated Prime Minister Narendra Modi's party might not be able to form a majority government.

 

The benchmark NSE Nifty 50 share index closed down nearly 6%, its steepest fall since India's first Covid lockdowns in March 2020.

 

Early results suggest Mr Modi's political party may need to rely on allies and form a coalition government.

That could lead to uncertainty over economic policies, some analysts said.

The NSE Nifty 50, which comprises stocks in various big companies, had plunged 8.5% at one point but ended the day down 5.9% at 21,884.5 points.

 

The S&P BSE Sensex also fell sharply, closing 5.7% lower at 72,079.05.

The rupee slid 0.5% against the US dollar, its biggest fall in 16 months.

More than half the votes have been counted in India's general election, and Mr Modi's Bharatiya Janata Party (BJP) looks unlikely to secure a majority in the 543-member lower house of parliament.

 

It may have to rely on allies in the National Democratic Alliance (NDA) to form the next government.

Analysts suggest that could lead to some uncertainty over economic policies, such as a push for investment, which has been one of the mainstays of the Modi government's rule.

 

"The key question is whether BJP can retain single-party majority," Ken Peng, head of investment strategy, Asia, at Citi Global Wealth, told Reuters.

 

"If not, then would its coalition be able to deliver economic development, particularly infrastructure?"

Puneet Sharma, chief executive and fund manager at Whitespace Alpha, told Reuters that if the new government is dependent on coalition partners it "may shift its focus" to put more emphasis on welfare "rather than concentrating on reforms during the July budget".

 

The Hindu nationalist BJP won majorities in 2014 and 2019.

Markets had soared on Monday after exit polls over the weekend had suggested Mr Modi and the BJP would gain a significant victory.

 

But it now looks as though the BJP will fall short of achieving a majority by itself.

Market analyst Fiona Cincotta told the BBC key Indian stock indexes had been "really battered".

She added that there had been some "very big fallers" in individual stocks, including oil and gas firm Reliance Industries, and Bank of India.-BBC

 

 

 

Instagram tests forcing users to watch adverts

Instagram is testing adverts that users cannot skip past.

The social media platform currently allows people to swipe or scroll past adverts that appear in its main feed of images and videos, as well as in its Stories and Reels feeds.

 

But it is now trialling a feature called "ad break", which users say they can not flick past as usual.

Images shared online show a timer, which counts down to zero before normal functionality can resume.

"Sometimes you may need to view an ad before you can keep browsing," the Meta-owned platform tells those who click for more information.

 

Instagram has confirmed to the BBC that a trial is under way.

“We’re always testing formats that can drive value for advertisers," it said in a statement, adding that it would provide further updates if the test resulted in permanent format changes.

 

In a subsequent statement, Meta said it was "always experimenting with new products and ad solutions in line with the evolving consumer trends and business needs."

 

'Ad dollars'

It remains to be seen if the trial pleases advertisers - but it certainly does not appear to have gone down well with users.

 

One person on Threads called the move "bonkers" - adding that it "seems like an aggressively pushy move to earn more ad dollars for Meta".

 

Others have raised the prospect of boycotting the platform.

"We will simply not be scrolling," said one X (formerly Twitter) user.

Meta is not the first big tech firm to force people to watch adverts.

 

YouTube is known for showing non-skippable ads to users watching videos on its platform or TV app who do not pay for its ad-free premium tier.

Advertisers can target YouTube viewers with 15 to 30 second-long, non-skippable promotional videos that appear before, during or after other videos if they want people to view their entire message.

 

They can also advertise using similarly non-skippable "bumper ads" - shorter videos of up to six seconds long - on YouTube videos.

 

Some users have responded by turning to ad blocking tools and browser extensions as a way around adverts that interrupt videos on the platform.

 

Google, YouTube's parent company, is in turn trying to clamp down on ad blockers.

However it is not clear that forcing users to watch more ads actually helps companies' bottom lines.

A study carried out by TikTok, published in January, suggested forcing viewers to watch adverts might actually lead to less engagement.

 

More than 70% of its participants said they were more likely to engage with the experience of an advert if there was an option to skip it.-BBC

 

 

War will drive a decade of arms restocking, says firm

Rising global conflict means countries will spend the next 10 years restocking arms, the boss of one of the UK’s largest weapons manufacturers has said.

 

Chemring, which describes itself as a key supplier to Nato, said countries are reacting to the wars in Gaza and Ukraine as well as “an increasingly assertive China”.

 

The firm wants sales, which are already hovering around record levels, to quadruple to nearly £1bn by 2030.

“The increase in geo-political tensions around the world is driving a fundamental rearmament upcycle which is expected to last for at least the next decade,” said Chemring chief executive Michael Ord.

 

The company builds aerospace, defence and security technology for nations all over the world. It also develops parts for space travel and “electronic warfare” products.

 

The firm made its forecast as it reported results for the six months to 30 April which showed that sales jumped by 8% to £223.4m.

 

However, pre-tax profits sank by nearly a third to £15.2m, which the company said was because of bad weather at one of its sites in Tennessee as well as costs related to its pension scheme.

 

Commenting on the current environment, Chemring said that European allies — both Nato and non-Nato members — are increasing defence spending to replenish their own stocks after providing assistance to Ukraine, which is entering the third year of war with Russia.

 

It also pointed to a recent announcement by Prime Minister Rishi Sunak to increase defence spending to 2.5% of gross domestic product (GDP) by the end of the decade.

Labour leader Sir Keir Starmer has also committed to lifting spending to 2.5% of GDP if the party wins the general election, without setting a deadline.

 

The Army is shrinking - but would Labour make it any bigger?

Leaders clash on UK defence spending levels

How much do Nato members spend on defence?

According to the latest government figures, total UK defence exports surged 70% to £11.2bn from 2021 to 2022 “primarily to new contracts to the Middle East and Europe”.

Some political parties and campaigners have raised concerns about the role of UK defence companies in overseas conflicts.

 

The SNP, the Liberal Democrats and protest groups are calling on the UK to stop selling arms to Israel.

Lord Cameron, the Foreign Secretary, said last month a ban would only strengthen Hamas, adding the UK supplies just 1% of Israel's weapons.

 

Ministers have said that all applications for a licence to export military equipment and related items are assessed against a set of criteria, including the “risk that the items might be used to commit or facilitate internal repression”.-BBC

 

 

King Charles banknotes enter circulation

New banknotes featuring the portrait of King Charles III have now entered circulation, but it may be some time before they are commonly seen in wallets and purses.

The new Bank of England notes will gradually replace those which are damaged, or will be issued when demand increases.

 

The King is only the second monarch to appear on these notes, with Queen Elizabeth II first featuring in 1960.

Shoppers can still use current circulating £5, £10, £20 and £50 notes carrying the portrait of the late Queen.

The reverse side of current polymer Bank of England banknotes, which in ascending order feature Sir Winston Churchill, Jane Austen, JMW Turner and Alan Turing, are unchanged. Notes issued in Scotland and Northern Ireland feature other images, and not the monarch.

 

King Charles banknotes

The first banknotes were printed months ago, ready for the start date

The first new banknotes were printed last year, with the long lead-in time allowing automated machines that accept cash to be updated to recognise the new designs. The King's portrait is based on a picture taken in 2013.

 

In April last year, the BBC was given exclusive access to the highly-secure site where the notes are being produced.

A year on, the King was presented with a full set with the lowest serial numbers, following the tradition of the monarch receiving the first issues of new banknotes.

 

Collectors seek banknotes which come as close to the 00001 serial number as possible.

PA Media The first of the new notes were presented to the King by the Bank of England governor Andrew Bailey and chief cashier Sarah JohnPA Media

 

The first of the new notes were presented to the King by the Bank of England governor Andrew Bailey and chief cashier Sarah John

 

While the King is appearing on banknotes, cash may be disappearing from our lives.

"This is a historic moment, as it’s the first time we’ve changed the sovereign on our notes," said Bank of England governor, Andrew Bailey.

 

"We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them."

But a survey for Link, the UK’s cash access and ATM network, found that nearly half (48%) of those asked said they expected a cashless society during their lifetime.

 

However, the same proportion said this would be problematic, and 71% of those surveyed said they still had some level of everyday reliance on cash.

 

Yet figures from consumer association Which? found that 6,000 bank branches had closed in the last nine years, leaving many places with none at all and limited access to cash.

Cash payments rise for first time in 10 years

Asda to go cashless at more petrol forecourts

 

Fifty of them now have banking hubs - shared premises, often run by the Post Office - where customers of any bank can withdraw and deposit cash, and where community workers from different banks visit once a week.

One of the more unusual is in the harbour town of Looe in Cornwall, a county with rich connections to King Charles.

 

Looe Banking Hub

The banking hub in Looe is in one of the more picturesque spots in the country

The hub is found behind a cafe and heritage centre and underneath a top restaurant, where the entrance to a climbing wall used to be.

 

"People can come to take money out, put money in, they can deposit cheques, we give change for local businesses," said Debbie Young, manager at the hub.

 

Debbie Young

Debbie Young says the hub serves a cross-section of the local community

"People come to pay their bills and top up their gas and electric."

With the last bank having closed 18 months ago, the hub is a lifeline, according to Ange Harrison, who manages the coffee shop in front of the hub.

 

Ange Harrison

Ange Harrison says glitchy internet and a fear of scams mean the hub and cash is needed

"Obviously you can bank your cash right away, you don't have to worry about having cash on the premises," said Mrs Harrison, a former fishmonger who has lived in Looe all her life.

 

"For all the businesses in the town, they need to use it. You know that old saying - if you don't use it, you are going to lose it."

 

That was true too of cash, and she said people were curious to see the new banknotes featuring the King.

It will be a slow change for our change - but there are still a longer-term questions over the future of notes and coins.

 

Where the King's image now features

Coins December 2022: Millions of 50p coins with the King's image entered circulation. Other new coin designs, such as a bee on the pound coin, were introduced towards the end of 2023.

 

Stamps March 2023: The first King Charles stamps were issued by Royal Mail as part of a special set. The following month, the new regular first and second-class stamps were issued, showing the King without his crown.

 

Passports July 2023: British passports in the name of "His Majesty" rather than "Her Majesty" were issued.

Official portrait January 2024: Public buildings, such as town halls and courts, were offered an official photo of the monarch, taken at Windsor Castle.

 

Tudor crown February 2024: King Charles's preferred design of crown was introduced in places such as the gov.uk website and official buildings.

 

Banknotes June 2024: The Bank of England issues £5, £10, £20 and £50 banknotes with the King's portrait, based on a picture taken in 2013

Postboxes: Postboxes are only changed when they are damaged or scheduled for extensive repair, meaning there are still examples from Queen Victoria's reign. This looks likely to be one of public symbols slower to change.-BBC

 

 

South Africa: Gauteng Faces Water Cuts for Planned Maintenance 

Gauteng residents and businesses have been warned to brace themselves for outages caused by extensive planned infrastructure maintenance, reports News24. The outage will affect many municipalities, including Tshwane, Ekurhuleni, Madibeng, Mogale City, Merafong, and Rand West City, Johannesburg is expected to be the worst affected due to its aging infrastructure and a population exceeding its water system's supply. Johannesburg Water said the maintenance was scheduled for between 22 June and 29 July and would affect the water systems supplied by the Palmiet and Eikenhof pump stations and the Daleside booster pump station. Johannesburg Water has advised customers to store water in preparation for maintenance.

 

Increased Police Presence in KwaZulu-Natal Amid Election Tensions

 

 

More police were deployed  to protect key parts of KwaZulu-Natal following the recent national elections, reports IOL. The deployment follows former president Jacob Zuma's demand that the Electoral Commission of South Africa (IEC) refrain from announcing the election results until a recount of the votes, as the uMkontho weSizwe Party (MK) suspects foul play. Zuma added that releasing any statement would be equivalent to provoking the MK. Despite Zuma's threats, the IEC insisted that the elections were free and fair and that no recounting would be done.

 

Cape Town Warns of Rabies Case, Urges Vaccination for Dogs

 

City of Cape Town officials have urged Deep South residents to stay vigilant after a confirmed rabies case led to the euthanasia of two dogs in Capri, reports Peoples' Post. Rabies is a zoonotic disease, meaning humans can get the disease from animals, and it is highly preventable through vaccination. According to a statement, state vets are working to determine the source of the infection as rabies infections in dogs are rare in the Western Cape. The City of Cape Town further urged the public to be vigilant and cautious of any unusual changes in behaviour in animals, especially dogs.

 

-South African news

 

 

 

 

South African Airways Among Carriers Fined Millions for Delayed Refunds

South African Airways is among several global carriers fined $2.5 million by US authorities for failing to refund passengers for tickets purchased during the COVID-19 pandemic in 2020.

 

The US Department of Transportation (USDOT) also imposed civil penalties on Lufthansa, Air France, and KLM Royal Dutch Airlines.

 

These fines address delays in refunding over $900 million owed to passengers after flights were grounded during the pandemic, leading thousands of airline customers to wait months for their money.

 

In 2022, USDOT announced plans to seek higher penalties for airlines and other entities that violate consumer protection rules, aiming to prevent future infractions.

 

KLM informed USDOT in June 2020 that it had begun offering refunds to all consumers holding non-refundable tickets on disrupted US flights.

 

However, the airline cited staffing and technical issues and a high volume of refund requests as reasons for the prolonged wait times for many consumers.

 

KLM stated it has since implemented one of the industry's most customer-friendly ticket refund and exchange policies, providing $84.15 million in refunds to US flight customers who were initially not entitled to them.

 

In 2022, the US government said it had completed investigations into 10 airlines over delayed pandemic passenger refunds, with 10 more probes still pending.

 

Lufthansa told Reuters passengers faced refund processing times exceeding 100 days in 2020. Lufthansa stated it has fulfilled all required refunds and attributed the delays to the unprecedented number of refund requests during the pandemic.

 

-Business Day Africa.

 

 

 

 

Nigeria: Minimum Wage - Give Costs to Govt Today, Tinubu Orders Finance Minister

Abuja — PRESIDENT Bola Tinubu yesterday gave marching orders to the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, to prepare the cost implications of a new minimum wage and present an affordable, sustainable and realistic figure today.

 

According to him, the government's new offer must be ready today as the basis of negotiation with organised labour.

 

He also directed those involved in the negotiation to expedite action, so that everything on the new minimum wage could be concluded as soon as possible.

 

Recall that the Federal Government had given offers of N48,000, N57,000 and N60,000, which Labour rejected and embarked on an indefinite nationwide strike on Monday but suspended yesterday.

 

 

Tinubu gave the order when he summoned the Federal Government's representatives in the tripartite committee on new minimum wage to a meeting in his office yesterday.

 

Those at the meeting with the President were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; the Minister of Budget and National Planning, Atiku Bagudu; the Minister of State for Labour and Employment, Nkeiruka Onyejeocha; Minister of Information and National Orientation, Mohammed Idris; and GMD/CEO, of the Nigeria National Petroleum Company limited, CEO, NNPCL, Mele Kyari.

 

Speaking after the meeting, the Minister of Information and National Orientation, Mohammed Idris, said the meeting was summoned by President Tinubu to look at the contentious issues and find amicable solutions to them.

 

 

On how the Federal Government's team had been negotiating with the organized labour and if the issue could be resolved within the next seven days, the minister said: "It has been quite challenging but we thank God that we are at this point. We thank labour that its leaders have suspended the strike early this morning (yesterday).

 

"On government's side, the President has just summoned a meeting of all those negotiating on behalf of the Federal Government, led by the Secretary to the Government of the Federation, SGF, and the Minister of Finance was there, the Minister of Budget and Economic Planning. Myself, the Minister of State for Labour, the GMD of the NNPC were all there to look at those issues.

 

"The President has directed the Minister of Finance to do the numbers and get back to him between today (yesterday) and tomorrow (today), so we can have some figures ready for negotiation with labour.

 

'President is determined'

 

 

"Let me say that Mr. President is determined to go with what the committee has said. He is also looking at the welfare of Nigerians. Like I have said earlier, government is not an opponent of labour discussions. It is not an opponent of wage increase.

 

"But what is there is that government is always desirous of ensuring that there is a balance between what government pronouncement is and what realities are on ground and, therefore, will work assiduously to ensure that whatever we do, whatever promises government makes will be kept. That is the idea of this meeting.

 

"The President has given a marching order to all those who negotiate on behalf of the government and all those also who are representatives of other sectors, the Organized Private Sector, OPS, the sub-nationals come together, so we can have a new wage award that is acceptable, sustainable and also realistic for Nigeria.

 

"A wage award is not just that of the federal government, like I mentioned earlier. The subnationals are involved, the OPS is involved, and organised labour is involved. It was a labour that stepped out during those proceedings.

 

"Now that we have come back to the negotiating table, all of us will work together again, seriously within the next one week, to ensure that we have a new wage for Nigeria that is acceptable, sustainable and realistic for all Nigerians"

 

Why we suspended strike -- NLC, TUC

 

Announcing yesterday the suspension of the nationwide strike that commenced Monday, in a communiqué at the end of their joint National Executive Council, NEC, meeting in Abuja, President of NLC, Joe Ajaero, and its TUC counterpart, Festus Osifo, gave insight into why labour suspended the indefinite nationwide strike yesterday

 

The communiqué explained that NEC also reviewed the government's position on other critical demands, particularly the reversal of electricity tariff hike and the cessation of the discriminatory classification of electricity consumers into bands.

 

According to the communiqué, the NEC-in-session equally examined the circumstances behind organised labour's withdrawal from the Tripartite National Minimum Wage negotiation process within the context of the behaviour of the federal government towards the exercise and the content of the understanding reached with labour.

 

The communiqué informed that the NEC critically examined the following key issues: The Federal Government's proposal to commit to a higher national minimum wage; the ongoing demands for the reversal of the electricity tariff hike back to N66/kwh; and the demand for stoppage of the apartheid classification of electricity consumers into bands.

 

 

Members of NEC also x-rayed reasons for withdrawing from the Tripartite Committee for the Negotiation of the National Minimum Wage, the content of the memorandum of understanding reached with the Federal Government at the meeting of Monday, June 3, 2024.

 

The communiqué read: "On the National Minimum Wage, the NEC-in-Session acknowledges the personal offer by the President Tinubu to commit to a higher National Minimum Wage above the N60,000 on offer.

 

"On electricity tariff hike and classification: The NEC-in-Session is deeply disappointed by the government's silence and lack of concrete action regarding reversal of electricity tariff hike and the abolition of the apartheid classification of electricity consumers into bands.

 

"The NEC reaffirms that these issues are critical to alleviating the financial burden on Nigerian workers and the general populace. The electricity tariff hike and discriminatory band classification remain unacceptable and must be addressed alongside the wage increase.

 

"On the reason for withdrawing from the wage setting process, the NEC-in-session frowned on the refusal of the Federal Government to go beyond N60,000 at the ongoing national minimum wage negotiation which compelled our withdrawal.

 

"On the agreement with the Federal Government, the NEC-in-session affirms that the Federal Government has agreed that the offer of N60,000 was not sufficient and has, therefore, shown commitment to making better wage offer to Nigerian workers and reaching agreement on same within one week.

 

"In view of the deliberations, the NEC-in-session resolved as follows that there is a greater need to create the right ambience for negotiation to continue unhindered.

 

"The indefinite nationwide strike is, therefore, relaxed for one week from today (yesterday) to allow the Federal Government commit to a concrete and acceptable national minimum wage; take definitive steps to reverse the electricity tariff hike back to N66/kwh and abolish the discriminatory classification of electricity consumers into Bands.

 

"The NLC and TUC national leadership are mandated to continue to maintain open channels of communication with the Federal Government to negotiate and secure favourable outcomes for Nigerian workers and people.

 

"All affiliate unions and state councils are, therefore, directed to relax the indefinite nationwide strike and return to their respective workplaces immediately.

 

"The NEC-in-Session expresses profound gratitude to Nigerian workers and the general public for their unwavering support and solidarity in this critical struggle for improved living and working conditions.

 

"The NLC and TUC remain committed to pursuing all necessary actions to protect the rights and welfare of all Nigerian people and workers as we urge all to await further directives while the negotiation continues."

 

Agenda for today's meeting

 

Similarly, the tripartite committee of a new minimum wage, yesterday at its resumed negotiation, adopted the agenda for the one week continuous negotiation.

 

At the resumed meeting, a source privy to deliberations, said: "The meeting today (yesterday) was for the adoption of agenda for the one week negotiation.

 

"Tomorrow (today) is the D-day for them to present what they have. Remember we did not call off the strike but we relaxed it and we will resume (strike) if there is no agreement. So the fireworks will start tomorrow (today)."

 

Recall that last Friday, before organised labour's negotiating team, declared indefinite strike on Monday, June 3, it had walked out of the meeting, accusing the Federal Government team of claiming it was unable to reach the President, hence it could not make a fresh offer beyond the initial N60,000.

 

Labour leaders had walked out of the meetings thrice after rejecting government and the Organised Private Sector's, OPS, offers.

 

Friday's walk-out, which was the third in the course of the negotiations, incidentally was the deadline labour gave government to conclude a new minimum wage as the old minimum wage of N30,000 signed into law by former President Muhammad Buhari on April 18, 2019, expired on April 18, 2024.

 

Labour's negotiating team had Tuesday, May 28, for the second time in two weeks, walked out of the committee meeting after the Federal Government increased its offer to N60,000 from the N57, 000 it offered on Wednesday, May 22.

 

Senate asks FG to stop industrial unrest

 

Meanwhile, rising from its plenary yesterday, the Senate asked the Federal Government to expedite action on new minimum wage as a way of stopping industrial unrest in the country.

 

It expressed dissatisfaction over what it described as excessive actions taken by some members of Nigeria Labour Congress, NLC, and Trade Union Congress, TUC, during nationwide strike on Monday.

 

The Senate particularly frowned on the shut down of the national grid by some unionists, saying the action was more of economic sabotage than agitation for new minimum wage as well as disruptingf Hajj flights.

 

Resolutions of the Senate were sequel to a motion sponsored on the strike and new minimum wage by the Chairman, Senate Committee on Labour, Senator Diket Plang ( APC Plateau Central).

 

In his remarks, the President of the Senate, Godswill Akpabio, noted that though it was heartwarming that the strike had been suspended, excesses of some of the unionists needed to be frowned on.

 

Akpabio said: "I want to thank the Nigerian Labour Congress, NLC, and the Trade Union Congress, TUC, for listening to the voice of Nigerians and the international community by calling off the strike to enable negotiations continue and we wish them well in the negotiations.

 

"On our part, we will continue to do our best by making contributions and at the same time awaiting the incoming bill on minimum wage for us to enact for the benefit of all Nigerians."

 

ActionAid to FG: Expedite action to end strike

 

On its part, ActionAid Nigeria, AAN, also called on the federal government to expedite action to end the industrial action by Nigerian Labour Congress, NLC, and Trade Union Congress, TUC, as Nigerians struggle and suffer the pain.

 

The Country Director, AAN, Andrew Mamedu, expressed displeasure over the last-minute rush by the Federal Government to dialogue with labour leaders, and the manner the issues were treated that eventually led to the strike, therefore, paralysing the economy and multiplying the hardship of poor Nigerians, crippling businesses, and creating tension.

 

Andrew said: "The nationwide strike called by the Nigeria Labour Congress, NLC, and Trade Union Congress, TUC, is a drastic measure that could have been avoided through a negotiated settlement between the government and labour unions, given the country's dire economic situation.

 

"It is disheartening to witness public services shut down today as a result of the strike. Patients in need of medical care found themselves stranded, unable to access adequate medical attention.

 

"The shutdown of electricity also exacerbated the situation and a continued disruption will not only affect the economy but also strain the social fabric of the nation. Businesses will be also affected, and parents may struggle to find alternative childcare arrangements due to the closure of public schools.

 

"All these are outside the estimated N50 billion put forward by economic experts that SMEs businesses lose daily to nationwide strikes.

 

"To avoid further escalation, the government and labour unions must urgently return to the negotiating table and work towards a compromise. The Federal Government should consider the genuine demands of workers and address the issues driving the strike.

 

"Meanwhile, I advise citizens to remain calm and peaceful during this period. We demand that any wage increase be balanced with economic realities. Now is the time to intensify social protection programmes that will contribute to improving the well-being of Nigerians.

 

"We should also learn from this, not to wait for the 11th hour before we begin to take threats of strike seriously and then running to the negotiation table.

 

"We have seen in recent times, the capacity of government to speedily respond to issues that are of interest to them, such as reversal to the old national anthem.

 

"Such zeal and urgency should be put in situations like this that affects the fabric of our country and its economy, which is further telling on those living in poverty."

 

AGF should prosecute states that fail to pay N30,000 minimum wage -- Falana

 

In a similar development, Lagos lawyer, Femi Falana, SAN has called on the Attorney-General of the Federation to sanction states that fail to pay the current N30,000 minimum wage.

 

He said since payment of the minimum wage was an agreement entered into freely, state governments unable to honour such a deal were breaching the law.

 

Falana, who stated this in an interview on Channels Television's "Morning Brief" programme yesterday, said: "Once a new agreement, a new minimum wage becomes the law of the country, the Federal Government has a duty, and the Attorney-General of the country has a duty to drag any state government that does not pay to court.

 

"I mean, the Attorney-General can just file a new case, which is a good development, by saying over the years, we have accused state governments of diverting money for local governments."

 

He argued that since states have more money after subsidy removal, they cannot claim lack of funds to pay minimum wage.

 

-Vanguard.

 

 

 

 

Nigeria: Solid Mineral Sector in One Year of Tinubu's Administration - the Journey So Far

The solid mineral sector continues to make paltry contributions to Nigeria's revenue despite the promises of successive administrations to use it to diversify and boost the economy.

 

The solid mineral sector was a critical sector of the Nigerian economy, making significant contributions to its growth and Gross Domestic Product (GDP) until the discovery of crude oil in the country. Mining once accounted for approximately four to five per cent of Nigeria's GDP in the 1960s and 1970s.

 

The commercial exploration of crude oil by the Nigerian government led to a gross neglect of the non-oil sector, including solid minerals and agriculture, which was the mainstay of the nation's economy in the pre-crude oil days.

 

 

Successive administrations, including the immediate-past Muhammadu Buhari's All Progressives Congress (APC)-led administration between 2015 and 2019, made pronouncements and feeble attempts at economic diversification. However, little was achieved, as crude oil sale is still the number one money spinner for the country, contributing to over 80 per cent of its revenue base.

 

To underscore the little contribution of mining to the country's GDP under Mr Buhari's government, PricewaterhouseCoopers (PwC), in its 2023 report tagged 'Nigerian Mining Progress, but still a long way to go', said the sector contributed a mere 0.17 per cent to the country's GDP between 2018 and 2022. This little contribution contradicted the former president's verbal commitment to leverage the comparative advantage in the sector to Nigeria's economic benefit.

 

 

The Bola Tinubu administration, also elected on the platform of the APC, whose mantra is 'change', has also promised to reduce the country's dependence on crude oil through economic diversification, especially by taking advantage of the country's abundant solid minerals.

 

Shortly after his inauguration as the Minister of Solid Minerals Development, Dele Alake declared that mining could be Nigeria's second growth factor if the necessary things were done. While his appointment as a minister did not surprise many, being a long-standing associate of President Tinubu, his deployment to the solid minerals ministry was a shock, given that he is better known for his pedigree in the Nigerian media ecosystem. Many had thought he'd be the Minister of Information. Mr Alake has, however, said he is eager to help the president optimise the country's huge potential in solid minerals.

 

To achieve his stated mission of making mining the country's second growth factor, after crude oil, Mr Alake unveiled a seven-point 'Agenda for the Transformation of the Solid Minerals Sector for International Competitiveness and Domestic Prosperity', to guide his tour of duty at the ministry.

 

 

The seven-point agenda captures 'Creation of the Nigerian Solid Minerals Corporation', 'Joint Ventures with Mining Multinationals', 'Big Data on Specific Seven Priority Minerals and their deposits', '30-day grace for illegal miners to join artisanal cooperatives', 'Minerals Surveillance Task Force and Mine Police', 'Comprehensive review of all mining licences', and 'Creation of six mineral processing centres to focus on value-added products'.

 

With under a year in charge of the solid mineral sector, Mr Alake has only had a short time implementing the seven-point agenda. But he is one minister who uses every opportunity, at home and abroad, to engage his audiences with his activities, which he maintains are geared towards the execution of the policies and programmes enshrined in the agenda. He reels out the challenges slowing down progress while seeking assistance from those who can help.

 

Challenges facing the mining sector

 

According to PwC in the 2023 annual report, the challenges hampering the full actualisation of the huge potential of the mining sector include illegal mining, insecurity and smuggling.

 

These challenges, including mining licence racketeering, duplication of consent letters from host communities, lack of beneficial ownership disclosure, and regulatory bottlenecks, which extend to issues with the Nigerian Minerals and Mining Act 2007 and other policies, are as old as the sector.

 

Speaking recently during the opening session of an investigative hearing of the Senate Committee on Solid Minerals, Mr Alake identified poor funding for mineral exploration and insecurity as the main challenges impeding the development of the mining sector.

 

Concerning poor funding, citing figures from Standard and Poor's report, the minister said Nigeria only invested $2.5 million in mineral exploration in 2023, a paltry sum compared to some other African countries. In fact, S & P, a global rating agency, ranked Nigeria's exploration budget 12th in Africa and placed Cote d'Ivoire in the top position with $147 million while Congo came second with $133 million.Alake's seven-point agenda to the rescue?

 

Will the seven-point agenda of Mr Alake be the silver bullet to rescue the mining sector from the scourge of the challenges confronting it and reposition the industry as one of the pivots of the economic diversification policy of the administration within the broader context of the Renewed Hope Agenda of President Tinubu?

 

Observers say it is too early in the day to assess the efficacy of the agenda. However, PREMIUM TIMES is aware that the Ministry of Solid Minerals Development proposed N70 billion to invest in mineral exploration that will cover the entire Nigerian landscape. But this reporter, as of the time of filing this report, could not immediately verify how much has been released for the exploration project so far in the year.

 

 

Mr Alake said the mining exploration business is too huge to be left in the hands of the private sector alone. Nigeria's mining sector, as of today, is characterised mainly by artisanal and small-scale miners.

 

To tackle the twin menace of illegal mining and smuggling, Mr Alake has set up a Mining Marshal Corps - comprising 2,220 officers drawn mainly from the Nigerian Civil Defence Corps, with 60 operatives reportedly distributed across the 36 states of the federation and the Federal Capital Territory (FCT), Abuja.

 

The mining marshals have one task: To curb illegal mining. They can do this by arresting and prosecuting perpetrators of acts considered to constitute economic sabotage impacting negatively the revenue-generating capacity of the country.

 

Recently, some of the operatives deployed to Kogi State reportedly arrested some illegal miners attempting to escape with their booty.

 

Mr Alake said a 30-day grace given to illegal miners to join artisanal cooperatives was a persuasive and non-kinetic strategy to dissuade them from engaging in the illicit act and to formalise their activities. Since the ultimatum elapsed, about 152 cooperatives have been formed in their various locales according to the minister.

 

Aside from the artisanal cooperatives and mining marshals, the ministry is also embarking on advocacy through Artisanal and Small (ASM) extension officers and launching a campaign against illegal mining and smuggling on at least 113 radio stations nationwide.

 

But critics of both the persuasive and coercive components of Mr Alake's broad strategy to contain illegal mining and smuggling say the measures are not enough to tackle the 'big boys' allegedly involved in the illegal acts. There are allegations that the main illegal miners and smugglers have connection in high places, just like those involved in crude oil smuggling and oil pipeline vandalisation.

 

The minister had in the past blamed some unnamed 'powerful Nigerians' as the brains behind illegal mining in the country, using their gains to fuel banditry and terrorism, especially in the northern part of the country.

 

The critics also contend that the minister must do much more to go after the big perpetrators and their collaborators within and beyond the shores of the country and put mechanisms in place to checkmate what makes illegal mining attractive. The deployment of security agencies, including military personnel, to the Niger Delta region of the country to protect crude oil facilities has not eliminated pipeline vandalisation or illegal refining of crude.

 

To facilitate the ease of doing business and to curb licence racketeering to attract more investors into the sector, the ministry is doing a comprehensive review of mining licences. Last year, in November, the ministry revoked over 1,600 dormant miming titles for non-payment of statutory fees as part of reforms in the sector. This year, it has revoked 924 more dormant licences and imposed various fees or fines for renewal of the licences. The areas affected include exploration mining, small-scale mining and quarrying. But again, some industry experts have said the minister has no power to cancel mining licences or titles.

 

In addition to the above, for investors seeking information about Nigeria's mineral resources, facilities and infrastructures, the ministry has launched a comprehensive one-stop-shop software platform called the Nigeria Mineral Resource Decision Support System(NMDSS). It is a communication tool to enhance government strategy to ease business in the solid mineral sector.

 

While launching the platform recently in Abuja, Mr Alake said the portal would expand access of prospective investors to critical information on Nigeria's mineral deposits, policies guiding the mining sector and incentives for investment from anywhere in the world.

 

Highlighting its cost-saving opportunities, the minister said prospective foreign investors will save the cost of travel and accommodation by logging on to the website to find answers to their enquiries. The NMDSS portal can be accessed here.

 

There is no big data yet on the specific seven priority minerals and their deposits across the country, nor has Mr Alake been able to establish the six mineral processing centres, presumably across the six geopolitical zones to bring value addition to the entire mining value chain in the country.

 

Also, there has not been any recorded joint venture with multinationals on his watch, though the minister has been shopping for foreign investors, including during his visit to Riyadh, Saudi Arabia, last year to lure Saudi businessmen to look at Nigeria's mining sector where gold, lithium and other strategic and green minerals abound in commercial quantity.

 

A solid mineral corporation similar to the NNPC Ltd, which Mr Alake proposed, has also yet to take off. Perhaps those will be his priorities as he trudges on in the ministry. He is serving at the pleasure of President Tinubu, who has promised Nigerians hope amidst biting economic realities and excruciating hardship occasioned by skyrocketing inflation resulting from his economic policies and multiple taxations.

 

Nigeria's mineral deposit is worth some $700 billion, according to Mr Alake, though he also said the country loses about $9 billion annually to illegal mining, smuggling and other factors.

 

He has his work cut out if he wants to make the mining sector the fulcrum of Mr Tinubu's economic diversification policy. To achieve that, he needs to block the leakages and make the sector investment-friendly by eliminating all bottlenecks - bureaucratic and non-bureaucratic alike.

 

-Premium Times.

 

 

 

 

Nigeria: Minimum Wage - Tinubu Demands Realistic Proposal in 48 Hours

President Bola Tinubu has issued a firm directive to the minister of finance, Wale Edun, to present a new proposed minimum wage figure within 48 hours.

 

This move comes as the administration seeks to resolve the long-standing issue of the minimum wage.

 

The minister of information and national orientation, Mohammed Idris, conveyed the directive following a closed-door meeting between the president and government representatives involved in the minimum wage negotiations with organised labour.

 

According to Idris, President Tinubu has instructed the minister of finance to thoroughly analyse the cost implications and provide an "affordable, sustainable, and realistic" figure for the new minimum wage within the two-day timeframe.

 

 

"The president has just summoned a meeting of all those who negotiated on behalf of the federal government, including the secretary to the government of the federation, the minister of finance, the minister of budget planning, the minister of information, the minister of budget and national planning, the minister of labour, and the NNPCL GMD," Idris stated.

 

He added that the president had directed the finance minister to 'do the numbers' and get back to him within the two-day time frame so that the government team can have figures ready for negotiation with labour.

 

Idris emphasised the president's determination to accept the committee's resolutions with the organised labour and his commitment to the welfare of Nigerians.

 

 

He, however, acknowledged the government's concerns about balancing its commitments and the realities on the ground.

 

"The president is determined to go with what the committee has said, and he's also looking at the welfare of Nigerians.

 

"The government is not against or an opponent of labour discussions or wage increases. Still, there is a need to ensure a balance between what the government pronounces and the realities on the ground," Idris explained.

 

According to him, President Tinubu has also directed the government representatives to work closely with the organised private sector and the sub-national governments to collectively achieve a new affordable and sustainable wage award for Nigerians.

 

The minister of information gave assurance that all parties negotiating the new minimum wage would work together with organised labour to present a new minimum wage for Nigerians within one week.

 

 

Labour Defends Suspension Of Action For One Week

 

Meanwhile, the organised labour yesterday explained that they relaxed the indefinite nationwide strike for one week to create a conducive environment for further negotiations on the new national minimum wage.

 

In a joint communique issued yesterday in Abuja, the Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC) announced the suspension of their nationwide strike following a marathon meeting of their National Executive Councils (NECs).

 

According to the communique signed by NLC president, Comrade Joe Ajaero, and TUC president, Comrade Festus Osifo, the labour centres took the action in consideration of the federal government's commitment to a higher national minimum wage exceeding the initially proposed N60,000 and the memorandum of understanding with the government on Monday.

 

The labour leaders expressed disappointment at the government's silence on the electricity tariff hike and the discriminatory band classification, while emphasising that these issues must be addressed alongside the wage increase to alleviate the financial burden on workers and the general populace.

 

The NECs acknowledged the government's renewed commitment to making a better wage offer within a week.

 

The NLC and TUC further expressed gratitude to Nigerian workers and the public for their support and solidarity just as they reaffirmed their commitment to protecting the rights and welfare of all Nigerian workers and people.

 

The communique reads in part, "There is a greater need to create the right ambience for negotiation to continue unhindered. The indefinite nationwide strike is therefore relaxed for one week from today to allow the federal government to commit to a concrete and acceptable national minimum wage, take definitive steps to reverse the electricity tariff hike back to N66/kWh, and abolish the discriminatory classification of electricity consumers into bands."

 

The NLC and TUC national leadership directed all affiliate unions and state councils to return to their workplaces immediately.

 

Airlines Resume Flight Operations At Lagos Airport

 

Local airlines on Tuesday resumed operations at the Murtala Muhammed Airport, Lagos, after the NLC and the TUC called of its indefinite strike over the new minimum wage and hike in electricity tariff.

 

It was gathered that striking aviation unions opened the barricaded airport terminals, thereby allowing the airlines, especially Ibom, Arik, and Air Peace, to begin operations.

 

Air Peace and Ibom Air management announced the resumption of flight operations in their advisory to passengers.

 

"We are pleased to inform you that the nationwide strike by the NLC and TUC has been suspended, and our flight operations have resumed.

 

"We sincerely apologise for any inconvenience caused during the disruption and appreciate your patience and understanding," Air Peace Airlines stated.

 

Similarly, Arik Air announced the immediate resumption of flight operations following the suspension of the national strike called by the NLC and TUC.

 

It, however, asked passengers willing to reschedule their flights to contact the organisation.

 

-Leadership.

 

 

 

 

Nigeria: Petroleum Training Institute Matriculates 1,793 Students

Warri — The Petroleum Training Institute (PTI), Effurun, Delta State has matriculated 1,793 students for its 2023/2024 academic session.

 

The acting Principal/Chief Executive, PTI, Dr. Samuel Onoji, who administered the matriculation oath on the students, urged them to shun all sorts of vices on campus.

 

Some of the vices, he said, included examination misconduct, all forms of physical abuse, bullying, cultism, use of drugs, narcotics and drug peddling, as well as certificate forgery, exposure of body parts, indecent dressings, stealing and misuse of social media.

 

He warned that the management does not tolerate any social vices as spelt out in the institute's handbook, adding that anyone caught would face the consequences.

 

 

Onoji urged the students to take their studies with all seriousness which is their primary aim of coming to the PTI.

 

He disclosed that the process of repositioning PTI, which is the foremost institute of oil and gas in Africa, had commenced, adding that being a specialised institute for the training of manpower for the oil, gas and allied industries, places the students at an advantage over their peers in other tertiary institutions.

 

The Minister of Petroleum Resources, Senator Heineken Lokpobiri told the matriculating students that Nigeria, being the largest producer of oil and gas in Africa, will always require their services in the sector.

 

Lokpobiri, who was represented by his special adviser and former President of Ijaw Youth Council (IYC), noted that the country needs steady influx of competent technicians and technologists to sustain the current levels of production in the industry.

 

 

"Nigeria is worlds 12th largest producer of oil and largest in Africa and also holds the largest natural gas reserves on the continent. The oil and gas sector plays a significant role in the economy, contributing about 65 per cent of government revenue and over 85 per cent of total exports in Nigeria.

 

"Further more, the petroleum contributes 6.63 per cent to the nation Gross Domestic Product (GDP). This implies that Nigeria needs steady influx of competent technicians and technologists to sustain the current levels of production and ensure greater ability in harnessing our vast hydrocarbon potentials.

 

"Institutions such as PTI is poised to meet this important demand through the training and graduation of men and women that are expected to play a part in this vital sector of the Nigerian economy," he said.

 

The minister promised that the Ministry of Petroleum Resources will continue to render the much needed support to PTI through collaborations, assisting in provisions of infrastructure and facilities to enable it meet its obligation of training and providing middle level manpower for the oil and gas sector.

 

-This Day.

 

 

 

Nigeria: What Is Nigeria Doing to Stop Chronic Oil Theft?

Nigeria relies on crude oil for more than two-thirds of its earnings and about 90% of foreign exchange income, but massive theft in the country's oil-rich heartland is draining national revenue.

 

Nigerian authorities have beefed up efforts to thwart the theft of crude products in the West African country's oil-rich Niger Delta region.

 

Large-scale oil theft from pipelines and wells has been one of Nigerian President Bola Tinubu's biggest challenges, damaging government finances and limiting Nigeria's output and exports.

 

Nigeria, Africa's top economy and major oil producer, lost about 620 million barrels of crude oil -- valued at $46 billion (€42 billion) -- between 2009 and 2020 alone, according to the Nigerian Extractive Industries Transparency Initiative, an organization that promotes accountability in the management of the nations's oil, gas and mining revenue.

 

 

Is Nigeria doing enough?

 

Nigeria's oil workers union in April asked Nigerian President Bola Tinubu to deploy more troops to combat the widespread theft from oil pipelines, which, along with the sabotage of onshore pipelines, has forced oil majors like Shell and Exxon to sell onshore assets.

 

In the same month, Nigeria's Navy recruited 1,486 personnel to boost internal security operations in the country's crude production heartland, according to local media sources.

 

Nigeria's Chief of Naval Staff, Emmanuel Ogalla, told DW that the Niger Delta operation aims to reduce oil theft and increase crude output in order to improve the country's economy.

 

"Mr. President has given us a matching order to conduct our operation to eradicate this menace of oil theft and without any restrictions," he said, adding the eradicating oil theft was non-negotiable.

 

"With the recovery of massive quantities of stolen crude oil products, dismantling of illegal refining sites, arrest of suspects, all [of] which has underscored the resolve of the Nigerian Navy to stamp out crude oil theft," Ogalla told DW.

 

 

Nigerian oil and gas management analyst Aminu Ghandi told DW that oil theft is becoming very lucrative for perpetrators.

 

"So, you see there is serious revenue leakage, oil theft is having a multiplier effect on the Nigerian economy and thus, the value of Nigerian currency is always going down because of the high demand of dollar by these criminals that takes our oil illegally," said Ghandi.

 

Who is stealing the oil?

 

Most of those involved in carrying out the oil theft are young people, many of whom are unemployed and looking to improve their livelihoods.

 

But commanding officer of the anti-oil theft operation, Captain Maksum Muhammed, told DW that these young people risk being arrested and prosecuted.

 

"To those that engaged in this illegal activity, we will not relent in our effort to hunt you down, discover you, find you wherever you are and continue to disrupt your activities and dislocate you to a point where we can deny you total freedom of action in carrying out these activities of economic sabotage against the country," Muhammed said, urging "those involved in this activity to consider another line of occupation."

 

Incentivizing the thieves

 

Some of the oil thieves are suspected members of militant groups.

 

The Nigerian government in 2022 awarded a pipeline protection contract to Tompoloa former miltant -- a controversial move, according to DW correspondent Mohammed Bello, who reports about the Niger Delta region.

 

Bello said that to end the menace, Nigerian authorities should consider engaging a broad section of militant groups across communities where the thefts take place.

 

"The best thing is for government to look at the entire region, look at the various communities there and the youth, bring them together so that there would be a kind of collaborative work," he said, suggesting that authorities could perhaps incentivize the groups by offering them a share of the oil they helped recover.

 

With the total value of crude oil lost in the Nigeria reportedly higher than the size of the country's foreign reserves, in it is inevitable that tackling the phenomenon is crucial.

 

 

 

Ethiopia: Electric Vehicle Factory Inaugurated in Debre Birhan, Amhara Region of Ethiopia

Addis Ababa — Belayneh Kinde Group has inaugurated a new electric vehicle manufacturing facility in Debre Birhan, Ethiopia with an investment of 3 billion Birr.

 

The state-of-the-art factory has an annual production capacity of over 1,000 electric vehicles.

 

The inauguration ceremony was attended by the President of the Amhara Regional State, Arega Kebede, as well as other senior regional government officials.

 

The new factory is expected to create 1,000 jobs for Ethiopian citizens, providing valuable employment opportunities in the region. In addition to job creation, the facility is also poised to contribute to technological transfer and help save foreign currency by reducing Ethiopia's reliance on imported vehicles.

 

The 9,000 square meter vehicle assembly plant is capable of assembling minibuses, coaster buses, luxury buses, and dry and liquid cargo trucks.

 

This diversified product portfolio positions the factory to meet the growing demand for sustainable transportation solutions in Ethiopia and the broader East African market.

 

The inauguration of this state-of-the-art electric vehicle factory represents an important step forward in Ethiopia's efforts to modernize its transportation infrastructure and reduce its carbon footprint.

 

-ENA.

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

Cellphone:         +263 71 944 1674 | +27 79 993 5557 

Email:                <mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com

Website:             <http://www.bullszimbabwe.com> www.bullszimbabwe.com 

Blog:                  <http://www.bullszimbabwe.com/blog> www.bullszimbabwe.com/blog

Twitter (X):        @bullsbears2010

LinkedIn:           Bulls n Bears Zimbabwe

Facebook:           <http://www.facebook.com/BullsBearsZimbabwe> www.facebook.com/BullsBearsZimbabwe



 

 

 


 

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

 


 

 


 (c) 2024 Web:  <http://www.bullszimbabwe.com> www.bullszimbabwe.com Email:  <mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993 5557 | +263 71 944 1674

 


 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20240605/1e61afc8/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20240605/1e61afc8/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.png
Type: image/png
Size: 121857 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20240605/1e61afc8/attachment-0004.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 36621 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20240605/1e61afc8/attachment-0002.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20240605/1e61afc8/attachment-0005.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 29361 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20240605/1e61afc8/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65551 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20240605/1e61afc8/attachment-0001.obj>