Major International Business Headlines Brief::: 06 November 2024
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Major International Business Headlines Brief::: 06 November 2024
<mailto:info at bulls.co.zw>
ü Uganda Calls On Global Miners to Invest in Critical Minerals
ü Ethiopia's Economic Reforms Boost SME Growth, Innovation
ü Nigeria: We Can't Tax Our Way Out of Economic Impasse, Atiku Tells Tinubu
ü Sudan's Sai Island Permanently Bans 'Toxic' Mining Mixers
ü Ethiopia: Parliament Approves $738.2 Million Loan to South Sudan for Cross-Border Highway
ü Ethiopian Airlines Receives Africa's First Airbus A350-1000
ü Nigeria: Dangote Refinery Attempting to Maintain Monopoly - Petroan
ü Namibia: Building Workers Pension Fund Calls for Benefits to Be Claimed
ü Kenya: Driving Greater Access to Digital Skills
ü Nigeria: Viral 'U$57.5bn Loan' to Nigerian Biafra Secessionists Not True
ü South Africa: People With Disabilities Demand Better Access to Public Transport
ü Africa: South Africa's Pargo Expands to Egypt With $4m Investment
ü Nigeria: MTN Nigeria Plans N50 Billion Commercial Paper
ü Morocco: Moroccan Logistics Startup Colis.Ma Secures $300k Pre-Seed Funding
ü Egypt's $14b Export Potential Fuels Agritech Growth Push
<mailto:info at bulls.co.zw>
Uganda Calls On Global Miners to Invest in Critical Minerals
Kampala — Uganda is calling on international mining giants to invest in the country's rich deposits of critical minerals to drive its clean energy ambitions and economic growth.
Dr. Luisa Moreno, Advisor on Minerals to President Yoweri Museveni, said there's need for Uganda to become a significant player in the global supply of essential minerals like lithium, cobalt, and rare earth elements, all pivotal for renewable energy technologies.
"We need to attract large industrial mining companies," Dr. Moreno said, "but we must keep an eye on them to adhere to environmental guidelines."
Her remarks highlighted the critical balance Uganda seeks between fostering economic growth through mining and maintaining rigorous environmental standards.
Held at Speke Resort Munyonyo from October 31 to November 2, the Renewable Energy Conference & Expo 2024 gathered stakeholders to discuss Uganda's energy transition under the theme "Transforming Livelihoods Through Clean Energy Access."
Hosted by the National Renewable Energy Platform (NREP) and Uganda's Ministry of Energy and Mineral Development, this year's event spotlighted investment in mining, sustainable practices, and community engagement as pillars for achieving Uganda's energy goals.
Uganda's Minister of Energy and Mineral Development, Ruth Nankabirwa, opened the conference with a commitment to phasing out traditional biomass and prioritizing clean energy access. Stressing the need for affordable, sustainable solutions in rural areas, she underscored Uganda's commitment to a Just and Equitable Energy Transition, closely aligning with the United Nations' Sustainable Development Goal 7. The goal, Nankabirwa noted, is to reduce biomass reliance to improve public health and lower carbon emissions.
EU's €200 million support
International support for Uganda's clean energy transition was also highlighted by Jan Sadek, the European Union Ambassador to Uganda, who reaffirmed the EU's commitment of €200 million toward Uganda's energy initiatives. These funds, channelled through partnerships, are intended to enhance clean energy projects and bolster Uganda's renewable energy sector.
One of the conference's focal points was Uganda's 2022 Mining Act, which provides a regulatory foundation to attract sustainable mining investments. Provisions within the Act encourage local processing, public-private partnerships, and a stable framework for long-term investments in Uganda's critical minerals sector. The Act also mandates transparency in licensing and easy access to geological data, essential for attracting global players while ensuring responsible and sustainable resource management.
Small-scale miners, who contribute significantly to Uganda's mining sector, were also a key part of discussions. Government officials outlined efforts to formalize small-scale miners activities, including providing training and resources to enhance their role within Uganda's minerals supply chain. Initiatives are underway to align artisanal mining with national sustainability goals, including integrating ASMs into mineral processing and beneficiation.
New push for clean cooking
Expanding on the theme of clean energy access, the East Africa Centre of Excellence for Renewable Energy and Energy Efficiency (EACREEE) announced a new regional policy initiative focusing on clean cooking. The initiative targets a shift from traditional biomass to electric cooking, citing the significant health risks associated with biomass. EACREEE's push for electric cooking aligns with WHO findings that approximately 23,000 Ugandans, primarily women and children, suffer from the adverse health effects of indoor air pollution linked to biomass.
Aiming to strengthen Uganda's footprint in the global critical minerals supply chain, Uganda's Ministry of Energy and Mineral Development is working with international partners like the United Nations Development Program to enhance local mineral processing. This approach, officials explained, will boost job creation, encourage knowledge transfer, and fortify economic resilience.
As Uganda advances its National Development Plan IV (2025-2030), which prioritizes critical minerals and renewable energy as catalysts for sustainable growth, the country is poised to drive an inclusive, community-centered energy transition that benefits all Ugandans.
Hope Kyarisiima Musinguzi from UNDP noted that aligning policy, investment, and community support will enable Uganda to emerge as a leader in Africa's critical minerals and renewable energy space, ensuring a future that balances economic progress with social and environmental responsibility.
Independent (Kampala).
Ethiopia's Economic Reforms Boost SME Growth, Innovation
ADDIS ABABA — Ethiopia's home-grown economic and macroeconomic reforms have fostered a supportive environment for Small and Medium Enterprises (SMEs), according to the Ethiopian Intellectual Property Authority (EIPA).
EIPA, in collaboration with the World Intellectual Property Organization (WIPO) and the Japan Patent Office (JPO), held a national intellectual property workshop yesterday to increase SMEs' awareness of innovation management and the importance of intellectual property (IP).
EIPA Director-General WolduYimsel highlighted that these economic reforms are paving the way for SMEs to play a more active role in Ethiopia's economic growth, although their current contribution to the GDP remains modest. "SMEs need to focus on building intangible assets, especially intellectual property, which is essential for enhancing competitiveness, increasing product value, creating jobs, and addressing financial hurdles," he said. The reforms, Woldu added, present SMEs with new opportunities to contribute to Ethiopia's development.
The workshop aimed to boost awareness and create a forum for discussing SME-related agendas and sharing experiences. Woldu pointed out that many developed countries, such as Japan, Taiwan, and South Korea, have grown their economies through strong SME sectors, with SMEs making substantial contributions to GDP and job creation.
WIPO's Division for AfricaActing Director Loretta Aseidustressed that SMEs are crucial for driving Ethiopia's economic growth through innovation and creativity. She cited ILO data indicating that SMEs employ over two-thirds of the global workforce and play a major role in GDP contributions, poverty reduction, and promoting equality by creating productive, decent employment.
Despite their potential, many SMEs face significant challenges. Aseidu underscored the importance of intellectual property in fostering growth and providing a competitive edge for SMEs. "Intellectual property rights-such as patents, trademarks, and copyrights-offer a means of protecting innovations, attracting investment, and expanding market access both locally and globally," she said. "Through IP, SMEs can turn knowledge and creativity into tangible economic assets that support business transformation."
The workshop also served as an avenue to learn from international best practices, with Aseidu pointing out that countries like Japan have strengthened their innovation ecosystems by focusing on IP development for SMEs.
Ethiopian Herald.
Nigeria: We Can't Tax Our Way Out of Economic Impasse, Atiku Tells Tinubu
Former Vice President Atiku Abubakar has replied the Presidency that the country cannot tax its way out of the prevailing situation.
The Peoples Democratic Party (PDP) presidential candidate in the last election also noted that "numerous nations, such as the United Arab Emirates, Qatar, and Monaco (an EU territory with a zero-income tax policy), among many others, have emerged as economic powerhouses by fostering growth through lower taxation."
Atiku was responding to the presidency which stated that his (Atiku) alternative reforms were not tested and was rejected by Nigerians during the election.
The PDP candidate had earlier alleged that the present administration was involved a trial and error economic reform, saying that the move was responsible for the current hardship in the country.
But Atiku, who fired back yesterday, insisted that the federal government was "fixated on inflicting further hardship upon an already struggling populace.
He emphasised that the "citizens who cast their votes in the 2023 presidential election are well aware that I did not lose; rather, we find ourselves in this predicament because the election was criminally stolen from the Nigerian people."
The former Vice President said he was forced to engage in the "debate on these critical matters" because of his hope that "this discourse will ultimately benefit Nigeria and its citizens".
Atiku also said the average GDP rate under the Obasanjo administration that he "served in was 6.59% and peaked at 15% in 2002; 7.98% under the late Yar'Adua administration and 4.8% under Jonathan compared to the dismal 2.8% of the so-called "tested" Tinubu era."
Daily Trust.
Sudan's Sai Island Permanently Bans 'Toxic' Mining Mixers
Northern State — Authorities in Wadi Halfa, Northern State, have permanently banned the use of environmentally harmful gold mining mixers on Sai Island, ordering the immediate removal of all machinery from the area. This decision follows local protests against the resumption of mining activities, which officials had previously suspended three months ago.
Mohamed Abdelfattah, a grassroots activist on Sai Island, told Radio Dabanga that residents had expressed their objections through peaceful demonstrations and official channels.
"When mining operations resumed, residents quickly organised an urgent general meeting after Friday prayers, where they firmly rejected any mixer operations on Sai island, demanded the immediate removal of machinery, and agreed to form a delegation to represent their town.
"This delegation, coordinating with other towns on and near Sai Island, held meetings and submitted memoranda to local authorities, making clear their opposition to the mixers and the resumption of mining."
The delegation first met with the administrative director of Abri, who advised them to also meet with the director of Wadi Halfa locality to gain his full support for the ban.
"After visiting Sai Island to assess the situation firsthand, the director of Wadi Halfa issued a final decision, permanently banning mixer operations to protect the community and its environment.
"This decision supports the will of the people and answers their desire to protect both human health and the environment. Local communities have long been exposed to the dangers of artisanal and private-sector mining," Abdelfattah concluded.
Health hazard
Environmentalists have been warning of the health and environmental hazards of the use of toxic mercury and cyanide to extract gold from ore for years.
Before the war, Sudan was witnessing a significant wave of anti-mining protests. The various protests rallied against gold mining companies, especially against the environmental and health risks posed by the use of highly toxic chemicals such as cyanide and mercury. They took place in Red Sea state, Northern State, Kordofan and Darfur.
A 2022 report on mercury poisoning in Sudan pointed out that "years of indiscriminate use of dangerous chemicals such as mercury, cyanide, and thiourea without protective measures for miners or local populations, has exposed millions of people across Sudan to lethal risks".
Sudan is reportedly the second-largest producer of gold in Africa and the ninth in the world. Gold mines are scattered across Sudan, including Darfur, South Kordofan, and Blue Nile. Artisanal mining has also drawn hundreds of thousands of gold seekers to the deserts of Sudan's northern and eastern states.
Despite the ongoing war between the Sudanese Armed Forces (SAF) and the paramilitary Rapid Support Forces (RSF), gold exports have surged in the first quarter of 2024, generating revenue exceeding $428 million for the Central Bank of Sudan (CBoS).
Dabanga.
Ethiopia: Parliament Approves $738.2 Million Loan to South Sudan for Cross-Border Highway
Addis Abeba — Ethiopia's House of People's Representatives has approved a $738.2 million loan to South Sudan for the construction of a major cross-border highway aimed at connecting the two countries.
The decision, made during the House's fourth regular session, formalizes a 2023 loan agreement focused on a 220-kilometer road project intended to enhance connectivity and foster economic ties across the Ethiopia-South Sudan border.
The financing agreement specifies that South Sudan, as the borrower, will repay the loan over a ten-year period, with a five-year grace period included. Ethiopia is to receive repayments either in cash or crude oil, transported to Port Sudan.
This agreement follows an initial deal signed in May 2023, when Ethiopia's State Minister of Finance, Eyob Tekalign, and South Sudan's Finance Minister, Dr. Dier Tong Ngor, formalized a contract to build the Paloch-Mathiang-Maiwut-Pagak highway.
South Sudan's National Legislative Assembly ratified the agreement in June 2024, highlighting its commitment to the infrastructure project and the expected economic benefits.
Addis Standard.
Ethiopian Airlines Receives Africa's First Airbus A350-1000
Addis Ababa — Ethiopian Airlines, the biggest carrier in Africa, received the first A350-1000 passenger plane in Africa named: "Ethiopia: Land of Origins" from Airbus company in a ceremony held in Toulouse, France.
This brand new aircraft is going to arrive at Addis Ababa Bole International Airport Today on 5th November 2024.
Prime Minister Abiy Ahmed, in his address to the parliament last week, disclosed that Ethiopia has already embarked on building a mega airport.
This new airport is projected to have the capacity to serve 130 million passengers each year, which is more than four times the current capacity of Bole International Airport.
The Premier also pointed out that Ethiopian Airlines has ordered 124 new modern planes, its growth that will continue to be universal.
To this effect, the delivery of Africa's first Airbus A350-1000 is now considered a historical move to Ethiopian Airlines.
It is also a step that signifies both the airline's growth trajectory and its commitment to operating one of the most modern fleets on the continent.
This aircraft will join Ethiopian's growing fleet of Airbus A350-900s and Boeing 787 Dreamliners, both known for fuel efficiency and long-haul capabilities, it was learned.
The A350-1000 variant, a larger and more powerful version of the A350 family, can accommodate up to 395 passengers across business and economy classes, with a more extensive business section than Ethiopian's existing widebody configurations.
This makes Ethiopian Airlines not only the largest fleet owner in Africa, but also a facility with a huge airport.
ENA.
Nigeria: Dangote Refinery Attempting to Maintain Monopoly - Petroan
The association explained that the rate of N990, as announced by Dangote Refinery, was "inconsiderate" based on the fact that the refinery enjoyed massive concessions for accessing foreign exchange during the construction of the refinery.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has accused Dangote Refinery of attempting to maintain a monopoly in the country's downstream petroleum sector.
The association made this known in reaction to a claim by the refinery that anyone importing petrol at lower prices likely brings in substandard products, posing health and environmental risks.
The PETROAN in a statement on Monday signed by its National Public Relations Officer, Joseph Obele, alleged that Dangote Refinery's recent claims that PETROAN would import substandard petroleum products were "usual gimmicks" to maintain dominance.
"The publication by Dangote Refinery that PETROAN will import substandard petroleum products is not coming as a surprise to stakeholders because such is his usual gimmick for maintaining a monopoly. The publication was coming after PETROAN and IPMAN announced plans to sell far less than the current Selling rate of Premium Motor Spirit (PMS) in Nigeria," the statement said.
Mr Obele claimed that the association plans to import high-quality petrol at a lower price than the current rate, citing agreements with foreign refinery counterparts and financial partners."PETROAN has concluded plans with her foreign refinery counterparts and financial partners to import the best quality of PMS and then sell far less than the present selling rate of PMS in Nigeria. We planned to enter the market before December 2024, pending the approval of our import permit license by the regulatory agency and access to foreign exchange from the Central Bank of Nigeria (CBN) at the official rate," he said.
On Sunday, Dangote Refinery said it sells its petrol at N960 per litre into ships and N990 per litre into trucks.
The company's Group Chief Branding and Communications Officer, Anthony Chiejina, said its prices are benchmarked against international rates, ensuring competitiveness.
At the same time, Mr Chiejina said an international trading company has recently hired a depot facility next to the Dangote Refinery, with the objective of using it to blend substandard products that will be dumped into the market to compete with Dangote Refinery's higher quality production.
In its statement on Monday, PETROAN said before now, the Dangote refinery refused to make public her selling rate of petrol until the Independent Petroleum Marketers Association of Nigeria (IPMAN) and PETROAN announced readiness to sell less.
The association said intensive or aggressive competition in any market brings the best value for money exchange for a commodity.
"Consumers get the best value for pricing when competition is at its peak, hence competition should be encouraged. Contrarily to competition, such a market will be exploitative and strictly for profiteering," it said.
The association explained that the rate of N990, as announced by Dangote Refinery, was "inconsiderate" based on the fact the refinery enjoyed massive concessions for accessing foreign exchange during the construction of the refinery.
"The core determinant for setting price is consideration for cost of production then adding a fair margin. But this wasn't the case for the determinant of PMS price by Dangote Refinery as they said, the parameter was comparison with the international selling rate at the global market.
"A nation that gave you a yet to be disclosed concession for foreign exchange which was highly criticised by financial expert's, such a country pricing template shouldn't have been templated by the selling rate at the international market but rather it should have been cost of production plus fair margin," the statement said.
Mr Obele further explained that goods from the China markets are not selling as high as goods from the American market because the cost of production differs.
"The allegations that PETROAN will import inferior products and also that an international company is trying to establish a PMS blending plant in Lagos are all strategies for Dangote Refinery to push others out of the market in view of achieving monopoly for exploitation.
"Few months ago the Chief Executive Officer of Dangote refinery said the Nigerian National Company Limited (NNPC Ltd) was importing inferior petroleum products, that his own was far better than what NNPC Ltd was selling to marketers. In another press conference, he said the refinery in Malta was just a blending plant and not a refinery. All the allegations are with the objectives of closing the doors for other operators so as to enjoy monopoly," he said.
According to him, pieces of evidence available showed that diesel (AGO) as a deregulated product was selling for less than N800 in the Nigeria market a few weeks before the commencement of AGO production by Dangote Refinery, noting that at the entrance of the AGO market by Dangote refinery, the country witnessed a rapid surge above N1,000 as against the perception of a "salvaging refinery."
The association appealed to the federal government to prevent monopoly in the downstream sector, citing the need for an all-inclusive stakeholders meeting to resolve petrol pricing instability.
"A balanced market should be an all-inclusive market player where the market leader is enjoying his lead, while the market challenger is servicing a certain degree of the consumers and the market followers are still surviving in the market at an affordable price.
"Therefore, it is penitent that the federal government should discourage and dismantle any attempt of monopoly in the downstream sector in view of crashing the current selling rate of PMS," the statement said.
Mr Obele added that the only catalyst to trigger petrol price reduction is by ushering in competition and
"PETROAN will support the federal government in achieving intensive competition in the sector. Most importantly, the solution to the ongoing downstream sector pricing turbulence and instability is for Mr President to midwife or delegate an all-inclusive stakeholders meeting including the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), the Major Energies Marketers Association of Nigeria (MEMAN), PETROAN, IPMAN, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
"This meeting tends to get first-hand valuable inputs from the industry players in view of having a final solution for PMS pricing in the downstream sector," he said.
Background
Last Tuesday, Aliko Dangote, founder and president/chief executive of the Dangote Group, said his refinery has more than 500 million litres of petrol in stock, but marketers have not been buying the product.
He questioned why the NNPC and private retailers were still importing petrol when his refinery could produce enough.
"So, I am expecting that the NNPC Ltd and the marketers should stop importing; they should come and collect what they need," Mr Dangote said Tuesday.
Mr Dangote did not say for how long the 500 million litres of petrol had been refined and stored by his 650,000 barrels per day refinery.
However, PREMIUM TIMES reported that data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showed that his refinery was unable to meet the required volume of petrol sought by NNPC Ltd for three weeks.
According to the Dangote Evacuation Report seen by this newspaper, between 15 September and 5 October, the refinery delivered only 148 million litres of petrol, instead of 575 million litres.
Last Thursday, Dangote Refinery said it has not received any payments for the purchase of refined petroleum products from the IPMAN. The company made this known in reaction to a claim by the marketers that they were unable to load petrol from the refinery for days.
Premium Times.
Namibia: Building Workers Pension Fund Calls for Benefits to Be Claimed
The Namibia Building Workers Pension Fund, an umbrella fund for the construction sector, is encouraging pensioners and their beneficiaries to claim their pension benefits.
This is as the Namibia Financial Institutions Supervisory Authority says the retirement fund industry in Namibia saw a total of N$218.7 million in unclaimed pension benefits by pensioners and their beneficiaries in 2023.
This is lower than the N$229.1 million reported in 2022.
The fund's principal officer, Enwich Kazondo, says the construction sector historically had a relatively large number of unclaimed benefits.
This is because members that exited the fund were untraceable, despite efforts to find them.
The fund created Epia Financial Services to handle all administrative activities, including the tracing of pensioners and their beneficiaries.
As of 2022, an estimated 2 500 benefits remained unclaimed.
Through Epia, the fund initiated a tracing process for unclaimed members in September 2023.
Since then, over 1 900 members have been located, and payments have been successfully made to more than 800 members.
"We believe this is a big achievement. It is really important to us. Ultimately, we want our stakeholders to know and trust that we make every effort to ensure that claimed benefits are paid out - either to the retiring members themselves or to their determined beneficiaries.
This is one of our major priorities.
We also want retiring members to indeed benefit from their savings for old age, and in the event of their death, we would like to see that their dependants or beneficiaries are also supported through benefits paid out by the fund," he said.
Kazondo encouraged current members - as well as their employers - to ensure that beneficiary forms are updated when necessary, and at least once a year.
Namibian.
Kenya: Driving Greater Access to Digital Skills
In an increasingly digital world, the importance of equipping Africa's youth with digital skills simply cannot be overstated. It's a much-quoted statistic that as the world's youngest continent, Africa will make up one-fifth of the total workforce and one-third of the total youth workforce in the world by 2030. Africa can seize the moment and harness its youth to become a global hub for tech skills, but the digital skills gap looms large. Developing the skills needed to compete in the global digital economy is critical. We must focus our skilling efforts on three key areas to fulfil the vision of Africa as a tech hub - building digital literacy, giving entrepreneurs the skills to thrive, and driving the AI skills set needed to embrace the full potential of this technology.
Digital literacy must be our starting point
As technology swiftly transforms the workforce landscape, employers globally are looking for workers
with enhanced digital skills. And, according to the World Bank, most of the demand for these digital
skills will come from occupations outside of ICT specialisations, driven by businesses embracing
digital technologies. It is anticipated that 70 percent of this demand will be for foundational skills,
followed by 23 percent for intermediate skills outside the ICT sector.
Acknowledging the importance of digital skills, countries across the continent are developing plans to
build the competencies needed for the global digital economy. Kenya has been actively investing in
digital skills development to empower its youth and enhance its digital ecosystem, but the challenge is
significant to reach our youth and upskill them.
Recognising the need to broaden access to digital skills development programs, Microsoft launched
the Global Skills Initiative in 2021, combining resources from LinkedIn learning, GitHub and Microsoft
Learn. The program has helped 80 million job seekers worldwide access digital skilling. Microsoft
continues to invest in the multipronged Skills for Jobs Program, in partnership with various nonprofit
partners across the continent and aims to train 10 million people by 2025. We have partnered with
Kenya Private Sector Alliance to upskill 100,000 Kenyan youth in Generative AI, Cybersecurity,
Cloud, and Sustainability coupled with soft skills and entrepreneurship to improve their employability.
Supporting entrepreneurs to spark innovation
Startup and SME skilling must be the second area of focus. Though 10 to 12 million African youth join
the workforce every year, just 3 million jobs are created. Helping to support and sustain
entrepreneurship will go a long way to solving the employment challenge. Beyond employment, small
businesses and startups are often at the forefront of innovation, providing solutions to Africa's most
pressing societal challenges.
According to the African Development Bank (AfDB), around 22 percent of Africa's working-age
population are starting new businesses - the highest rate in the world. The African tech startup
ecosystem is becoming an important source of employment.
Partnerships such as the one with the Kenya Private Sector Alliance (KEPSA), a membership
organization of over 1 million businesses, are helping to train 60,000 SMEs and entrepreneurs on
digital, AI and cybersecurity skills.
The Africa Development Centre (ADC) is playing a pivotal role in growing and enhancing the African
tech talent landscape through various ecosystem engagements such as university faculty skilling
programs, university curriculum reviews and student hackathons.
Developing the skills needed for the AI revolution
Advancements in AI technology are making headlines across the world, and with good reason. AI is a
defining technology of our time. And as companies invest in AI, the demand for skilled professionals
will continue to increase. According to the State of AI in Africa report, if current trends continue, AI
and its attendant startup ecosystems in Africa could win big. It is estimated that capturing just 10
percent of the global AI market could expand Africa's economy by as much as 50% of current GDP.
To benefit from the global transformation currently taking place, we must empower businesses and
people across Kenya to harness the game-changing potential of AI. Strategic partnerships across the
private sector can unlock the potential of Africa's youth by allowing for the implementation of more
holistic and sustainable initiatives.
To help accelerate digital adoption, Microsoft and G42 are collaborating with a wide array of local
partners to provide a range of digital and AI skills across Kenyan society and create a future-ready
workforce. This includes offering digital and AI skilling programs to all government employees, a
cybersecurity skilling program for more than 2,000 people per year, and a business skilling program
for young entrepreneurs aged 18 to 24.
The Microsoft Africa Development Centre has also partnered with 16 universities including JKUAT
and USIU to deliver training to over 50,000 students and 800 Faculty members on software
engineering fundamentals and introduction to teaching with AI. Through the expansion of the AI for
Good Lab to Nairobi, we are also investing in local AI skills and capacity in Kenya.
Leading African AI community Zindi and Microsoft are working to advance digital skilling across the
continent, providing a new generation of tech-savvy young Africans with the chance to gain the skills
demanded by the market now and in in the future workplace.
The empowerment of Africa through digital skills and AI technology is not just a vision but a strategic
reality in which Microsoft is deeply invested. By bridging the digital divide and fostering innovation, we
are laying the foundation for a brighter future where African talent can shine on the global stage.
Together, we can transform challenges into opportunities and ensure that no one is left behind in this
digital revolution.
Phyllis Migwi is the Country Manager, Microsoft Kenya
Capital FM.
Nigeria: Viral 'U$57.5bn Loan' to Nigerian Biafra Secessionists Not True
IN SHORT: A much-shared screenshot appears to be an X post from a pro-Biafran leader, claiming that the head of the World Trade Organization helped his organisation secure a colossal loan. But the X post is fake.
A screenshot of an alleged X post claiming that the World Bank and the International Monetary Fund (IMF) loaned US$57.5 billion to a secessionist group has been circulating online since October 2024.
The post is in the name of Simon Ekpa, who leads a faction of the Indigenous People of Biafra (Ipob), an outlawed group seeking the restoration of the Republic of Biafra.
Biafra is a region in south-eastern Nigeria. Its secession in 1967 triggered a 30-month civil war. The region was reintegrated into Nigeria in January 1970. However, supporters continue to call for independence.
Ekpa is from Ebonyi state in south-east Nigeria, but resides in Finland. He refers to himself as the prime minister of the self-declared Biafra Republic Government in Exile.
"BREAKING: The World Bank and IMF have agreed to loan the sum of $57.5 billion to Biafra Republic Government in Exile (BRGIE) to form our government after December 2nd 2024 declaration of Biafra. I thank our sister, Ngozi Okonjo-Iweala for helping me to facilitate the loan," the screenshot reads.
The post drew reactions from many social media users, with some saying it was real and others saying it was fake.
Ipob and its supporters often use disinformation campaigns to promote narratives about the separatist movement. But are the claims attributed to Ekpa in the screenshot accurate? We checked.
Is the X post really from Simon Ekpa?
The first issue is whether Ekpa originally published the X post in the screenshot.
Africa Check found no evidence he did. The viral posts don't include a link or URL to the purported original X post, despite the fact that his supporters would certainly have been interested in more details about a 57.5 billion-dollar loan.
We searched various social media platforms, including Facebook, TikTok and X, but we could not find any retweets or a URL linking to the original post. This is a red flag, as Ekpa has over 178,000 followers on X and his posts often generate a lot of reactions.
All we found were messages referring to the alleged tweet and screenshots here, here, and here, which had generated hundreds of thousands of reactions from social media users.
We also noticed that the screenshot was cropped. Posts on X usually display the time, date and number of views at the bottom. In the screenshot of the X post purporting to be from 23 October 2024, the number of views is missing. This led us to believe that the post in the screenshot is a fake.
Ekpa has also denied authoring such a post, alleging that it was photoshopped.
The denial was in response to a tweet from Ngozi Okonjo-Iweala, the director general of the World Trade Organization, refuting the claim. The WTO regulates and facilitates global trade between nations.
Bretton Woods institutions do not give loans to non-members
The IMF is a global organisation focused on enhancing financial stability and promoting international trade. The World Bank provides funding and policy help to developing countries to support projects aimed at reducing poverty.
Together the two are known as the Bretton Woods institutions. They do not give loans to non-member nations. Biafra is not a sovereign state and is not a member of either the IMF or the World Bank.
If this claim were true, it would be a significant development and would have been widely reported in the international media. But we found no media coverage of such a story.
But to be sure, Africa Check reached out to the IMF, World Bank and Okonjo-Iweala.
The World Bank responded to Africa Check's direct message on X, saying: "Please note that this is false."
WTO head rubbished claim she helped 'facilitate' loan
The screenshot also claimed that Okonjo-Iweala facilitated the $57.5 billion loan for Biafra.
Okonjo-Iweala refuted the claim on X, and warned those misusing her name.
"I know no sensible person will believe what is contained in the outrageous tweet below but in these troubled times it is important to underscore that the statement is false," part of her post reads.
There is no evidence linking Simon Ekpa to the tweet in the viral screenshot - it appears to have been fabricated. And there is no evidence that Okonjo-Iweala helped pro-Biafran separatists secure a loan from the World Bank or IMF.
Read the original story, with links and other resources.
Africa Check is a non-partisan organisation which promotes accuracy in public debate and in the media. Twitter @AfricaCheck and www.africacheck.org
South Africa: People With Disabilities Demand Better Access to Public Transport
The Disability Revolution group wants the City of Cape Town to include specific measures for people with disabilities in its transport planning
"Public transport for people with disabilities is a nightmare," said Phakama Zembeta, mother of a disabled teenager.
"It's so bad that we have resorted to using e-hailing vehicles each time he needs to go to the clinic which are costly and are sometimes unreliable," said the mother from Eerste River.
She was among about 50 people who, despite the cold and rain, came out to a picket led by the Disability Revolution organisation in Cape Town's Civic Centre. They say the City of Cape Town's Comprehensive Integrated Transport Plan 2023-2028 (CITP) does not include a specific plan for people with disabilities, especially from poor communities and informal settlements.
Zembeta and other protesters say the plan fails "to mention people living with disabilities in informal settlements, who are among the most vulnerable people in the city". They want the City to update the CITP to include a specific transport access plan for disabled people in informal settlements. They also say they were not adequately consulted about the new Dial-A-Ride business plan.
"It shouldn't be this difficult for people with disabilities to use public transport. The government is not doing enough," said Zembeta.
As the group entered the Civic Centre, the City's Oversight Committee chairperson for Urban Mobility, Mikhail Manuel, came to meet them briefly.
Wheelchair user Siyabonga Majozi from Lower Crossroads told Manuel that there was no dignity in taking public transport as a disabled person. "You can be standing at the side of the road, and gesture for a taxi, but it will pass you like you're invisible.
"When one eventually stops and picks me up, the driver is rude. One time a driver told me that my wheelchair takes up the space of another passenger."
Majozi said a trip by train isn't even an option for him because many stations still don't have proper ramps or working lifts. "Imagine having to be carried around by strangers like you are a sack of potatoes to access public transport," said Majozi.
The group's submissions were accepted and signed by Manuel.
GroundUp.
Africa: South Africa's Pargo Expands to Egypt With $4m Investment
South African e-commerce logistics firm Pargo expands into Egypt with Collect and Return services at 500+ Pargo Points, supported by $4 million funding round.
Pargo's innovative logistics model leverages pickup points to reduce delivery costs and cater to Egypt's booming e-commerce sector.
Launching in Egypt in 2023, Pargo introduces "Cash on Collection" option and plans to extend to 7,000 pickup points in MENA by 2026.
South African e-commerce logistics firm Pargo has entered Egypt, launching its Collect and Return services at over 500 Pargo Points, including locations in Fawry, Circle-K, and Basata stores. This expansion is backed by a $4 million funding round, enabling Pargo to scale its network and address the need for affordable, efficient delivery solutions in Egypt's growing e-commerce market.
Pargo's logistics model utilizes a network of pickup points, reducing delivery costs by consolidating orders and eliminating missed deliveries. Egypt marks Pargo's first major international expansion, with Noon as one of its initial clients. Noon's customers can now opt to pick up orders at Pargo Points, offering flexibility and convenience.
Pargo initially piloted its solution in Egypt in 2023, seeing strong adoption. The company introduced a "Cash on Collection" option, tailored for Egypt's cash-based economy. Plans are underway to expand to 7,000 pickup points across MENA by 2026.
You can follow Daba's reporting on Africa on WhatsApp. Sign up here
Key Takeaways
Pargo's expansion into Egypt highlights the growth potential in Africa's logistics sector, driven by rising e-commerce demand. With challenges like poor infrastructure and traffic congestion in many cities, Pargo's pickup model offers a cost-effective alternative to traditional home delivery. By partnering with major e-commerce players like Noon, Pargo is well-positioned to address logistical gaps, providing consumers with reliable, flexible delivery options.
Daba Finance.
Nigeria: MTN Nigeria Plans N50 Billion Commercial Paper
MTN Nigeria hopes to use the cash to bridge the working capital gap in the short term.
MTN Nigeria is returning to the debt market to source N50 billion in commercial paper, the wireless operator said in a statement on Monday, its first since raising N72.1 billion last November.
"The issuance is part of the Company's strategy to diversify its funding sources," the company stated in a note to the Nigerian Exchange and hopes to use the cash to bridge the working capital gap in the short term.
The Nigerian operation of Johannesburg-based MTN Group, the continent's largest wireless operator, is issuing commercial paper for the first time this year.
That compares to last year when it tapped the market four times and raised N375 billion in all.
Financing for MTN Nigeria could be constrained in the last quarter of the year as its current liabilities outran its current assets by N1.5 trillion or 240 per cent at the end of September.
The crisis is a shockwave from a larger financial distress that erupted at the end of the last financial year, when the corporation's balance sheet turned red, pushing equity into negative territory.
Shareholder funds stood at -N573.6 billion at the end of the third quarter, up from -N40.8 billion a year earlier.
MTN stated in an earnings release document last week it is considering a mix of measures to improve its negative capital position.
The strategies include regulated tariff increases, optimisation of capital expenditure, reduction of US dollar exposure and review of tower lease contracts.
In August, GCR Ratings, an affiliate of Moody's, affirmed the national scale long and short-term issuer ratings of AAA and A1+ respectively, as well as the national
long-term issuer rating of AAA is assigned to each of MTN Nigeria's existing senior unsecured bonds issued.
The share price of MTN Nigeria has shed 35.6 per cent so far this year, underperforming the NGX 30, a group of the thirty top companies by liquidity and market capitalisation on the Nigerian Exchange. NGX 30 had returned 31.7 per cent as of the start of trade on Monday.
Premium Times.
Morocco: Moroccan Logistics Startup Colis.Ma Secures $300k Pre-Seed Funding
Founded in 2022, Colis.ma achieved rapid growth, delivering over 50,000 parcels to Europe, targeting individuals with family ties and SMEs in sectors like cosmetics and artisanal goods.
Colis.ma aims to bridge the logistics gap between Africa and Europe, reporting a 380% increase in annual recurring revenue in 2023.
Colis.ma, a Moroccan startup specializing in cross-border logistics, raised $300,000 in a pre-seed round led by Witamax. The funds will support Colis.ma's expansion across Morocco's top five regions and six European countries, with plans to enter West African markets.
Founded in 2022, the company claims to have seen rapid growth, delivering over 50,000 parcels to 55 destinations in Europe and achieving a 380% increase in annual recurring revenue in 2023.
Targeting individuals with family ties between Morocco and Europe, as well as SMEs in sectors like cosmetics and artisanal goods, Colis.ma aims to bridge the logistics gap between Africa and Europe.
You can follow Daba's reporting on Africa on WhatsApp. Sign up here
Key Takeaways
Colis.ma's successful funding round reflects the growing demand for cross-border logistics solutions in North Africa. With $50,000 previously secured from The Baobab Network and recent success in accelerator programs like Orange Corners, Colis.ma is on a trajectory to strengthen its market position. The startup's innovative approach, integrating both traditional and unorganized transporters through proprietary tech, optimizes operations for partners and enhances service quality.
Daba Finance.
Egypt's $14b Export Potential Fuels Agritech Growth Push
Entlaq report forecasts $14 billion in Egyptian agricultural exports by 2030, emphasizing tech-driven growth to address water scarcity and labor challenges.
Anticipated creation of 50,000 new agritech jobs by 2030 as Egypt aims to boost wheat self-sufficiency from 47% to 70%.
Egypt's emphasis on digital transformation and sustainability attracts venture capital, solidifying its position as a key player in agritech innovation.
Egypt's agritech sector is gaining momentum as Entlaq's inaugural report reveals a path toward $14 billion in agricultural exports by 2030.
The report details a strategic vision to leverage technology for growth, tackling critical challenges like water scarcity and informal labor while driving agricultural productivity and food security.
Entlaq's report also projects over 50,000 new agritech jobs by 2030 as Egypt seeks to increase wheat self-sufficiency to 70% from 47% in 2021. This focus on digital transformation and sustainability is expected to attract further venture capital, enhancing Egypt's standing as a regional leader in agritech innovation.
You can follow Daba's reporting on Africa on WhatsApp. Sign up here
Key Takeaways
Agriculture remains a cornerstone of Egypt's economy, contributing 11.6% to GDP and employing nearly a fifth of the workforce. With government investment in the sector set to exceed EGP 116.6 billion this fiscal year, Egypt is targeting a 20% increase in agricultural output, driven by innovative solutions like precision irrigation, IoT, and AI-powered platforms. Startups such as Mahaseel Masr are leading efforts, with tools like the Qamhawey app enabling farmers to monitor crops and directly access markets.
Daba Finance.
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