Major International Business Headlines Brief::: 20 November 2024

[Bulls n Bears]

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Major International Business Headlines Brief:::  20 November 2024 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Nigeria: CBN Warns Against Fraudulent SWIFT Fund Transfer Claims

ü  Nigeria's Oldest Banking Institution Becomes 'First Holdco' As
Shareholders Endorse New Name

ü  Nigerian Governor Signs N70,000 Minimum Wage With Labour Leaders

ü  Liberia: Senate to Conduct a Separate Hearing On the Draft National
Budget

ü  Africa: COP29 - Exploring Africa's Untapped Energy Potential Amid Global
Energy Security Concerns

ü  Tanzania: President Orders Extra 24hrs to Save Trapped People in Kariakoo

ü  Zambia, Zimbabwe Seek Move to Wind, Solar to Avert Power Shortages

ü  Kenya: Ruto Vows Sanctions for Failure, Waste As He Signs Performance
Contracts

ü  Africa: 80% of People Without Electricity Access Live in Nigeria, Other
African Nations - Report

ü  South Africa's Electricity Company Faces Backlash Amidst Proposed Tariff
Hike

ü  Africa Calls for Funding of Just Transition

ü  Logan Paul accused of misleading fans over crypto investments

ü  TV networks MSNBC and CNBC to be spun off by Comcast

ü  What the farmers' protest tells us about their argument with the
government

 


 <mailto:info at bulls.co.zw> 

 


 

Nigeria: CBN Warns Against Fraudulent SWIFT Fund Transfer Claims

The CBN clarified that the SWIFT documents provided as evidence are often
unverifiable and not traceable on the SWIFT platform.

 

The Central Bank of Nigeria (CBN) has raised concerns over a surge in
fraudulent claims involving foreign currency transfers allegedly withheld by
Nigerian banks or the apex bank itself.

 

The apex bank raised these concerns on Tuesday in a statement by its Acting
Director, Corporate Communications, Hakama Ali.

 

The CBN described these allegations as spurious and warned the public
against relying on fake documents, such as fabricated SWIFT MT103 messages
and acknowledgment copies, often used to support these claims.

 

 

In the statement, the bank noted that several private entities, individuals,
law firms, and government agencies have recently petitioned the CBN,
alleging that funds sent by foreign entities were not credited to their
accounts in Nigeria.

 

The petitioners frequently accuse either the beneficiary banks or the CBN of
withholding the funds and demand assistance in their release.

 

"The requests are usually supported with fake documents such as SWIFT MT103,
SWIFT Ack copy, etc. It has become imperative to state that the SWIFT ack
copy and SWIFT MT103 that these claimants usually attach as evidence of
remittance to beneficiary banks in Nigeria are not reliable," it said.

 

The apex bank emphasised that in cases of uncredited funds, the appropriate
recourse is for the sender to liaise with their bank to trace and recall the
transaction, rather than escalating the matter to the CBN or law enforcement
agencies.

 

"For the avoidance of doubt, the CBN neither provides correspondent banking
services for Nigerian banks in foreign payments nor maintains accounts for
private business entities," the statement read.

 

"Consequently, petitioners' claims that the alleged expected inflows for
onward credit into private accounts are trapped in the CBN are not only
spurious but deceitful."

 

The CBN further advised the public to be vigilant and sceptical of
unauthentic SWIFT documents and other materials linked to claims of
non-received funds.

 

It also warned that any bank customer found making illegitimate and
unsubstantiated claims would be reported to law enforcement agencies for
investigation and prosecution.

 

Premium Times.

 

 

 

 

 

Nigeria's Oldest Banking Institution Becomes 'First Holdco' As Shareholders
Endorse New Name

The change applies also to the subsidiaries within the group, FBN Holdings
remarked.

 

Nigeria's oldest banking institution is taking a new identity in the form of
name change after shareholders gave their nod to the proposal to replace the
name it has been known by in 12 years with "First Holdco."

 

The financial services group, whose centenarian flagship subsidiary First
Bank pioneered commercial banking in Nigeria when it came to life in 1894 in
Lagos, switched to the name "FBN Holdings" in 2012 from "First Bank of
Nigeria PLC."

 

 

That happened in the final phase of a corporate transformation that
converted the lender's former operational model from core traditional
banking into holding company.

 

Shareholders agreed "that there should be a change of the legal and brand
names of the Company from FBN Holdings Plc and FBNHoldings to First Holdco
and FirstHoldco Plc," the company stated in a note to the Nigerian Exchange.

 

The change applies also to the subsidiaries within the group, FBN Holdings
remarked.

 

The last phase of the process requires an amendment to FBN Holdings'
memorandum and articles of association to feature the new name.

 

According to the statement, the company has also secured shareholders'
approval to tap the capital market for N350 billion.

 

The equity capital raise might take the form of public offering, rights
issue, private placement or a mix of two or all of that.

 

FBN Holdings is already in the middle of a share sale to existing
shareholders in the hunt for N149.6 billion to part-fund the
recapitalisation of its subsidiaries as required by the Central Bank of
Nigeria.

 

The new rule expects lenders with international banking authorisation like
FBN Holdings, UBA, GTCO, Access Holdings, Zenith, Fidelity and FCMB to scale
capital base to a minimum of half a trillion naira by March 2026.

 

In September, FBN Holdings sold its spinoff merchant banking arm to a
consortium of investors including Custodian Investment Plc, Aion Investments
Private Limited and Evercorp Industries Limited.

 

The corporation unbundled the merchant banking business from a larger entity
comprising its investment banking and asset management divisions jointly
known as FBN Quest.

 

Premium Times.

 

 

 

 

Nigerian Governor Signs N70,000 Minimum Wage With Labour Leaders

According to the MoU, the new minimum wage will cover all strata of Ekiti
workers, as well as pensioners.

 

The Ekiti State Governor, Biodun Oyebanji, on Tuesday, signed a new minimum
wage of N70,000 agreement with workers in the state effective 1 December.

 

The approval follows the signing of a Memorandum of Understanding (MoU) by
the state government and leaders of organised labour in the state.

 

According to the MoU, the new minimum wage will cover all strata of Ekiti
workers, as well as pensioners.

 

 

The wage agreement was signed on behalf of the state government by the Head
of Service, Folakemi Olomojobi; while leaders of the labour centres in the
state signed on behalf of workers.

 

Mr Olomojobi said Governor Oyebanji approved the template the way it was
presented by the committee based on the Governor's commitment to
prioritising workers' welfare and wellbeing.

 

While describing Mr Oyebanji as a "worker-friendly governor" who desires the
best for workers in the state, the Head of Service used the opportunity to
express her appreciation to the labour leaders for their understanding,
patience and dexterity in achieving the best for the workers.

 

She also thanked Ekiti workers for waiting patiently for the outcome of the
decision of the committee and their unwavering trust in the state government
that it will give them the best deal.

 

She called on workers to reciprocate the government gesture by enhancing
their service delivery through their commitment to the success of the
administration.

 

She said: "Today is another landmark in the history of Ekiti State as we
come together to sign the new minimum wage for Ekiti State Public servants.
I want to first appreciate our governor, who, on the 31st of August 2024,
put together the committee to negotiate Ekiti State public service minimum
wage.

 

"This committee has taken not less than eight weeks to meet to deliberate on
the minimum wage for Ekiti state. I want to emphasise that this was a very
painstaking process, it was a process that brought to bear the funds
available to Ekiti. In the midst of this, the governor bent forward and
backwards to accommodate our yearnings, and today we have agreed on the
minimum wage to be paid in Ekiti State."

 

Workers speak

 

In their separate remarks, Chairmen of Nigeria Labour Congress (NLC) in the
state, Kolapo Olatunde; Trade Union Congress (TUC), Sola Adigun, and Joint
Negotiating Council (JNC), Femi Ajoloko, commended Mr Oyebanji for his
efforts at giving the best to Ekiti workers.

 

The labour leaders also noted that the new minimum wage cut across all
strata of Ekiti workforce including the pensioners, adding that when the
table is compared with those of other states, the governor has given the
best.

 

Also at the brief event was the Commissioner for Information, Taiwo
Olatunbosun.

 

Premium Times.

 

 

 

Liberia: Senate to Conduct a Separate Hearing On the Draft National Budget

The Liberia Senate plenary has decided to hear and scrutinize the 2025 draft
National Budget separately in the wake of an ongoing political crisis at the
House of Representatives.

 

Normally, the Liberian Senate and the House of Representatives conduct a
joint hearing on the draft National Budget. This saves time and effectively
makes adjustments to the budget.

 

Both houses' committees mostly do this on Ways, Means, Finance, and Budget.

 

However, due to the impasse in the House of Representatives, the Senate will
review the budget separately.

 

 

On Tuesday, November 19, 2024, the Senate read the communication from the
Presidency that accompanied the draft National Budget.

 

The Senate mandated its Committee on Ways, Means, Finance, and Budget to
independently scrutinize the draft 2025 National budget.

 

The 2025 Draft National Budget submitted to the Senate is in the total
amount of USD851.76 million.

 

It was submitted on Monday, November 18, 2024, through a written
communication by President Joseph Nyuma Boakai to Senate President
Pro-Tempore Nyonblee Karnga-Lawrence.

 

It accounts for its domestic resource envelope of USD 791.76 Million,
constituting 93 percent of the total envelope.

 

The draft budget is categorized into its revenue envelope, expenditure
categories, and major sources.

 

Underspending priorities, President Boakai said USD 52.9 Million is being
allocated for roads and infrastructure.

 

 

This will include the rehabilitation of rural roads and the construction of
bailey bridges across the country.

 

The counterpart funding for ongoing works on key road corridors, such as
Saclepea-Zwedru and the Sannniquelle-Loguatuo highway, is also included in
the priority spending.

 

Additionally, USD 15 Million has been set aside for the Pliable Road Program
and infrastructure.

 

Other interventions will include rehabilitating the road from Freeport of
Monrovia to St. Paul Bridge and expanding the Liberia Broadcasting System so
that LNTV is available in all 15 County capital cities.

 

President Boakai disclosed that there are upward shifts in the expenditure
for sectors that will be impactful.

 

He added that the proportion of the Public Sector Investment Program (PSIP)
increased by thirty-one percent from FY2024 US$67.4 million to FY2025,
amounting to USD$98 million USD$52.9 million for Roads and Infrastructure.

 

He also spoke of USD 37.6 million for the rehabilitation of major roads.

 

Accordingly, more than US$16m has been allotted to fund the first set of
measures in a multi-year effort to address some remuneration challenges and
concerns in the public sector.

 

This measure will cover volunteer workers in the health, agriculture,
security, and education sectors, with salaries ranging from US$25 to US$50.

 

Nurses, midwives, and physician assistants will receive US$50 salary top-ups
per month, while other health workers will receive US$25 to US$40, depending
on their level.

 

Accordingly, other government employees in the agriculture and Security
sectors, including AFL soldiers, EPS, Police officers, and agriculture
extension workers, will benefit from salary top-ups ranging from USD$30 to
US$40 per month.

 

Meanwhile, President Boakai also highlighted that the proposed increases do
not bring the country to the level envisioned by the ARREST agenda.

 

Notwithstanding, he said it should be construed as a first year-action and
multi-year effort to address issues and concerns in public sector
remuneration.

 

As part of the reforms to the revenue and tax administration system,
President Boakai said he is considering several new regulations and
legislations that would provide clarity in the way different levels of
income are taxed.

 

New Dawn.

 

 

 

 

Africa: COP29 - Exploring Africa's Untapped Energy Potential Amid Global
Energy Security Concerns

World leaders and some more than 70,000 delegates from 170 countries
descended on the Azerbaijan capital, Baku, for the 29th Conference of the
Parties to the Conference of the Parties to the UN Framework Convention on
Climate Change (COP29) that kicked off on November 11, running till November
22.

 

With more than half of the UN countries represented to discuss action to the
climate crisis, there was a flurry of ambitious pledges and sombre warnings.
This, amid discussions on global priorities around energy security, climate
financing and a just transition are urgently taking centre stage.

 

 

The UN Climate Summit echoes a critical need for actionable steps from the
international community, particularly the G20, to support developing nations
facing both the burden of climate change and the challenge of sustainable
economic growth. Against the backdrop of escalating global tensions and
resource insecurities, energy security has emerged as a top concern.

 

Less developed countries, many rich in natural resources, seek to tap into
their own oil, gas and minerals to fuel economic growth and improve living
standards. However, their efforts are often met with opposition from certain
Western powers, which have faced accusations of "double standards" in
climate policies, especially by major oil producers and resource-dependent
nations.

 

Azerbaijan's president Ilham Aliyev, during his opening remarks, highlighted
the inconsistency of Western nations in their energy dealings. He reminded
delegates that the European Commission itself sought a strategic energy
partnership with Azerbaijan, a collaboration initiated by Europe due to its
pressing need for energy security.

 

 

This agreement, signed two years ago in Baku, expanded access to Azerbaijani
gas for eight European nations, with plans to double supply by 2027. Yet,
despite this reliance, Aliyev noted a tendency among some Western nations to
malign resource-exporting countries as "petrol states" rather than recognize
their importance in global energy security.

 

His message was clear: natural resources are a right, a resource for nations
to responsibly harness for the benefit of their people. UN Secretary-General
António Guterres took a starkly urgent tone, pointing to 2024's
record-breaking temperatures as a marker of the climate crisis' escalating
toll on biodiversity, food security and livelihoods.

 

The brunt of these impacts falls disproportionately on less developed
nations--nations that contribute the least to emissions but face the
greatest risks. The solution, as Guterres underscored, lies in a rapid and
just transition to clean energy, one that is inclusive and equitable,
ensuring no nation is left behind in the global shift to sustainability.

 

 

Referencing the Nairobi Declaration, which was adopted to be the basis for
Africa's common position in the global climate change process to COP 28 in
Dubai, Secretary-General Guterres emphasized the transformative power of
renewable energy to drive industrialisation, economic growth, and
sustainable development.

 

"From Cairo to Cape Town, renewable energy can revolutionize lives," he said
at a fireside meeting under the theme Africa's Green Momentum: Harnessing
Renewables for Industrialisation.

 

The urgency for the G20 and other affluent nations to step up in supporting
this transition is clear. Rhetoric must yield to real action: climate
financing, access to green technology, and the scaling up of adaptation
funds need to move beyond promises.

 

The G20, being home to the world's wealthiest economies and largest
polluters, has an ethical duty to provide the means for developing nations
to build resilient infrastructures, reduce carbon footprints, and foster
local green industries.

 

Among the critical needs is the doubling of adaptation finance to $40
billion by 2025, as proposed by the UN, along with real commitments toward
climate justice through the operationalization of the loss and damage fund.

 

For true climate equity, the 'polluter pays' principle should be integrated
into global financing, compelling wealthier, high-emission nations to bear a
fair share of the climate response burden.

 

This would also mean overhauling international financial institutions to
reduce the crushing debt obligations that hinder many developing countries
from investing in climate adaptation. A new financing model is essential --
one that allows these countries to grow sustainably and ensures the economic
viability of green projects.

 

The stakes are high: as world leaders meet to discuss a just transition, it
is time to translate words into meaningful support for developing nations.
By backing responsible resource extraction and providing the funding and
technology for climate resilience, developed nations can help forge a truly
equitable path toward a sustainable, prosperous future for all.

 

The writer is a corporate affairs officer at Petroleum Authority of Uganda.

 

Observer.

 

 

 

 

 

 

Liberia: From U.S.$150k to U.S.$50k - Drastic Cut in National Football
Budget

Monrovia — The Draft National Budget for Fiscal Year 2025 proposes a sharp
reduction in funding for football, allocating only US$50,000--more than a 60
percent cut from the US$150,000 approved in the 2024 fiscal year. This makes
football the only sporting discipline to see no increase in its budget
allocation.

 

The 2024 budget, however, showed an outturn of zero for football, suggesting
that the Liberia Football Association (LFA) either failed to submit a
request for the approved amount or submitted a request that was not honored.

 

The Ministry of Youth and Sports, tasked with overseeing sports and youth
development, has a total budget of just over US$6 million for 2025. More
than 50 percent of this budget is allocated to the "ports" program, leaving
less for other sports and developmental initiatives.

 

 

The reduction comes at a time when the national football team, alongside
youth and grassroots programs, urgently requires support to nurture talent
and improve infrastructure. Football stakeholders have expressed hope that
lawmakers will revise the budget, recognizing the critical role sports play
in fostering health, national pride, and international competitiveness.

 

Meanwhile, the National County Sports Meet has seen a significant boost in
funding, with its budget increasing by over 50 percent--from US$150,000 in
2024 to US$400,000 in the 2025 Draft Budget. This marks the first major
increment for the County Meet in over seven years. Additionally, the Samuel
Kanyon Doe (SKD) Stadium has been allocated US$300,000.

 

The SKD Stadium continues to face restrictions due to a CAF (Confederation
of African Football) ban for not meeting international standards. The
stadium lacks essential facilities, including floodlights. CAF mandates a
minimum lighting capacity of 1200 lux, which the SKD Stadium currently does
not meet.

 

Other notable allocations for sports in the 2025 Draft Budget include
US$650,000 for miscellaneous sports programs, US$5,000 for the Inter-School
Sports Association (ISSA), US$20,000 for the Ministerial League, and
US$5,000 each for basketball, chess, and scrabble federations, among others.

 

Liberian Investigator.

 

 

 

Tanzania: President Orders Extra 24hrs to Save Trapped People in Kariakoo

Brasilia — President Samia expressed optimism that, with divine
intervention, some victims might still be found alive beyond this period,
despite the standard 72-hour timeframe

 

President Samia Suluhu Hassan has announced an additional 24 hours to rescue
people trapped in a collapsed building at Kariakoo in Dar es Salaam.

 

In a statement issued on Tuesday by the Director of Presidential
Communications, Ms Sharifa Nyanga, it was stated that the President gave the
directive during a telephone conversation with Prime Minister Kassim
Majaliwa regarding the ongoing rescue operation.

 

President Samia expressed optimism that, with divine intervention, some
victims might still be found alive beyond this period, despite the standard
72-hour timeframe for rescue operations having elapsed.

 

“I understand that rescue operations are usually limited to 72 hours, but I
firmly believe that God can perform miracles and enable us to save more of
our people who are still trapped in the rubble,” she stated.

 

 

She added ; “I am instructing that the rescue operations must not stop.
Extend the effort by an additional 24 hours to continue fighting for the
lives of those who may still be alive.”

 

The rescue operations began immediately on Saturday when the building
collapsed in the bustling business center.

 

President Samia also extended her heartfelt gratitude to the rescue teams
and citizens working tirelessly to save lives, acknowledging their
exceptional patriotism and commitment.

 

“To all the rescue teams and citizens tirelessly working to save lives, I
send my heartfelt gratitude. Please let them know that their efforts are
deeply appreciated. They are heroes of our nation, and I encourage them to
keep fighting for our people,” she said.

 

The President urged families and the nation to remain patient, united, and
prayerful, supporting the rescue teams as they work to save lives.

 

As of Monday, 16 people had been confirmed dead, while 86 had been rescued.

 

 

 

 

 

Zambia, Zimbabwe Seek Move to Wind, Solar to Avert Power Shortages

Victoria Falls, Zimbabwe — Zimbabwe and Zambia are holding a summit this
week in Victoria Falls to identify ways to attract investors for energy
projects and development.

 

The talks come as the neighbors experience their worst recorded drought,
which is drying up the Kariba Dam reservoir and causing hourslong power
cuts.

 

Speaking at the inaugural Zimbabwe-Zambia Energy Projects Summit, officials
from both countries said depending so heavily on hydropower leaves them
vulnerable to lengthy lapses in electricity. Recently, power outages reached
20 hours.

 

They say they want to increase investment in wind and solar energy
generation.

 

Zimbabwean Vice President Constantino Chiwenga said Zimbabwe and Zambia are
well-positioned to benefit from solar and wind power.

 

"In particular, the potential for solar energy is highly promising,"
Chiwenga said. "Both Zimbabwe and Zambia enjoy abundant sunlight throughout
the year. This is the only asset on this Earth we do not pay for. So, let's
use it."

 

 

With investments, he said, building large-scale solar farms could generate
power not only for local consumption but also to export to neighboring
countries.

 

"These initiatives will not only enhance our national energy security but
also position both nations as key players in the regional energy market," he
said.

 

Zimbabwe and Zambia have started exploring floating solar projects on Lake
Kariba. The hydroelectric dam there was built during the colonial era, but
an El Nino-induced drought has left the dam with about 2% of its water,
resulting in hourslong power cuts in both countries.

 

Zambian Energy Minister Makozo Chikote said that Zambia hopes to buoy its
push into renewable energy with money from increased copper production. He
announced a target of 3 million metric tons of copper to be produced
annually in Zambia by 2035.

 

 

"We are at a critical juncture in our countries: energy and mining sectors,"
he said. "The demand for electricity and resources continues to grow, and it
is imperative that we adopt strategies to meet the challenges head on."

 

Chikote referenced the current drought, which has left the reservoir at a
historic low, saying, "Overdependence on hydro has exposed the vulnerability
of the energy in ... Zambia."

 

The countries are looking to the West for potential investors.

 

Jobst von Kirchmann, European Union ambassador to Zimbabwe, said that
investors want predictability in legislation and the courts, but especially
in monetary policy.

 

"Zimbabwe is now running a monetary policy which is a multicurrency policy,
but then if someone goes out and says, 'We should abandon the dollar; we
should go back to mono-currency,' that's a killer for investment," he said.

 

Some elements in Zimbabwe's ruling ZANU-PF party have been calling for the
abandonment of the dollar, which the country has been using since 2009,
together with other currencies.

 

John Humphrey, British trade commissioner for Africa, echoed the call for
stability.

 

"When we are in the renewable sector, it's not just about five or 10 years,"
he said. "Actually, you are looking at a much longer period. So, in order to
be able to make those sorts of investments, you really have to feel like you
are operating in a predictable and stable environment.

 

"Money is like water," Humphrey said. "It goes where it is easy, and if you
put something in its way, it just flows somewhere else."

 

The meeting ends Wednesday.

 

VOA.

 

 

 

Kenya: Ruto Vows Sanctions for Failure, Waste As He Signs Performance
Contracts

President William Ruto has vowed to enforce sanctions for failure,
negligence, waste, and misconduct following the signing of ministerial
performance contracts.

 

Ruto announced that at the end of each financial year, every Cabinet
Secretary will receive a performance report card reflecting their ministry's
achievements.

 

He emphasized that the scorecards will include recognition, rewards, and
sanctions, which the Cabinet Office will apply consistently and without
exception.

 

"This scorecard will carry recognition, rewards, and sanctions, which will
[be] applied without fail. Excellence, integrity, and efficiency will [be]
rewarded. Failure, negligence, and waste will invite instant corrective
action," Ruto said on Tuesday.

 

The President underscored that the ministerial performance contracts are not
merely ceremonial but represent firm and solemn commitments to implement the
government's inclusive and transformative goals.

 

 

No room for excuses

 

He urged Cabinet Secretaries to take personal responsibility, stressing that
there is no room for delays or excuses.

 

"As we sign this performance contract, let us reflect on our commitments and
the weight of our responsibilities. I expect each CS to take personal
responsibility for what they sign. There is no room for excuses, delays, or
failure," Ruto stated.

 

Ruto added that the performance contracts integrate the strategic priorities
of the Bottom-Up Economic Transformation Agenda, aiming to maximize the
impact of Kenya's scarce resources, particularly for those at the bottom of
the economic pyramid.

 

All Cabinet Secretaries and Principal Secretaries convened at State House
for the ministerial performance contract signing event, the second under
Ruto's Administration.

 

Each official signed a contract detailing targets for respective portfolios.

 

Capital FM.

 

 

 

Africa: 80% of People Without Electricity Access Live in Nigeria, Other
African Nations - Report

Abuja — Roughly 80 per cent of people who have no access to electricity
globally live in Nigeria and other countries in sub-Saharan Africa despite a
decline of the number by more than 10 million, a new report has said.

 

The International Energy Agency (IEA) in its latest 'Country Data on
Electricity Access,' however noted that the figure of persons who do not
have power supply has slumped from over 760 million to below 750 million in
the last one year.

 

Created in 1974, the IEA monitors energy markets and provides analysis,
data, and policy recommendations to its 31 member countries and 13
association countries.

 

However, despite the large number of persons who do not have electricity,
the report stated that data for 2024 suggest that improvements are set to
continue this year, as the number of people without access to electricity is
expected to decline by as much as 10 million again.

 

 

Nigeria faces persistent inadequate power supply, with about 5,000mw
available, despite a demand of 20,000mw. Aside transmission infrastructure
constraints, the sector is beset with distribution network inefficiencies.

 

Others include: Metering issues, with over an estimated half of customers
unmetered, funding constraints, estimated at $10 billion annual investment
deficit, corruption and inefficiency in the sector, gas supply shortages for
power plants as well as aging infrastructure.

 

But the global improvements remain well below pre-2020 levels, the IEA said,
recalling that between 2015 and 2019, the population without access
decreased each year by 80 million on average.

 

According to the report, around 80 per cent of the countries without
universal access today it is still slower than in the late 2010s, with
current improvement rates far below what is necessary to reach the target of
universal electricity access by 2030.

 

 

It stated that this requires the population without access to decrease on
average ten times faster than today.

 

While most of developing Asia and Latin America get closer to universal
electricity access, with more than half a billion people gaining access in
the past decade, it said major gaps persist in sub-Saharan Africa, where 80
per cent of people without access live.

 

"The most severe gap persists in sub-Saharan Africa, where 80 per cent of
the global population without electricity access live. After three years of
backsliding, progress resumed in 2023, driven by an acceleration in grid
connections, continued growth in solar-home systems deployment, and, to a
lesser extent, new mini grids development.

 

"Six hundred million sub-Saharan Africans still lacked access to
electricity, a number higher than in 2019. Even with continued progress in
2024 as suggested by preliminary reporting, the number of people without
access to electricity in the region will still be slightly higher than in
2019 by the end of this year.

 

 

"New annual connections in sub-Saharan Africa have rebounded. Decentralised
access solutions now serve 7 per cent of the region's population. The number
of new annual electricity connections in sub-Saharan Africa reached more
than 6.5 million in 2023, an increase of 60 per cent since the 2021 dip and
just shy of the around 7 million connected in 2019.

 

"Countries with a strong history of expanding electricity access are
contributing the most to the recovery, with significant single-year
improvements in grid connections driving the rebound in countries like
Ghana, Nigeria, and Uganda," the report added.

 

The number of new grid connections in Nigeria and the other three countries,
it said, has more than doubled since the 2020-2022 dip, reaching or even
surpassing pre-crisis levels.

 

Most countries, however, are still lagging below their historical progress
levels, with more than 40 per cent of the population in sub-Saharan Africa
connected to the main grid and mini-grids providing access to more than 4
million additional households, it said.

 

The IEA stressed that market for mini-grids had been growing in recent years
as more countries institute regulatory frameworks to facilitate the
financing and implementation of these projects.

 

"Around 27 million people were connected to a mini-grid in sub-Saharan
Africa in 2021. Countries such as Nigeria and Uganda have seen an
acceleration in the number of mini-grid licenses that have been permitted
and registered, and in the number of customers connected to mini-grids.

 

"Based on planned projects and permits in the region we estimate this trend
to continue to accelerate ... to 3 per cent of the population.

 

"While there was a slight decrease in sales in more established markets in
eastern Africa, these were outweighed by continued growth in west African
markets, driven by Nigeria, and record sales in southern Africa," the
document explained.

 

But despite the promising trends, more financial commitments, it said, are
necessary to accelerate progress on global energy access

 

"Progress remains far behind the levels required in most countries to reach
universal access by 2030, and without further action around 645 million
people will still lack access globally by the end of the decade.

 

"New measures and innovations have recently improved the long-term outlook
compared to previous years, with around one-third of the population without
access living in a country that recently implemented a positive change in
their electricity access paradigm.

 

"Still, challenges remain, including limited access to affordable commercial
finance, difficulties in disbursing funds for 'smaller' projects, growing
debt burdens, and competing demands on overseas development assistance
budgets," the IEA report pointed out.

 

This Day.

 

 

 

 

South Africa's Electricity Company Faces Backlash Amidst Proposed Tariff
Hike

Eskom wants a tariff increase but many South Africans oppose it.

 

The proposed 36 per cent electricity tariff hike by South Africa's power
utility firm, Eskom, met fierce public objections at the beginning of a
nationwide public hearing on Monday.

 

The hearings, hosted by the energy regulator, are meant to solicit public
views on the proposed tariff hike. Electricity minister Kgosientsho
Ramokgopa previously conceded that the hike is untenable.

 

Eskom has been mired in financial difficulties for years amidst routine
power blackouts in many South African homes. However, in 2024, there has
been a dramatic turnaround in its performance, which has allowed Africa's
most industrialised economy to go more than 200 days in a row without power
cuts, boosting investor sentiment and leading to expectations for faster
growth.

 

 

Determined to solve its financial challenges while providing uninterrupted
power, Eskom proposed a tariff increase.

 

Eskom submitted electricity tariff applications to energy regulator Nersa
for either the year ahead or several years at once, after which Nersa was
expected to consult the public before deciding whether to approve an
increase. Nersa rarely grants Eskom the full increase it seeks.

 

In its latest application, Eskom asked for increases of roughly 36 per cent,
12 per cent and 9 per cent in the next three financial years.

 

Nersa is due to announce its decision on 20 December.

 

Debt crisis

 

Eskom is also struggling with unpaid bills by thousands of consumers.
Recently Mr Ramokgopa stepped in to stop the utility firm from bringing
Johannesburg to its knees over unpaid bills.

 

 

Eskom planned to suspend power supply to the economic hub in December unless
the municipality settled its debt of 4.9 billion rand ($275 million).

 

PREMIUM TIMES learnt that South African municipalities, or local
governments, owe Eskom about 90 billion rand ($5 billion).

 

"Despite all the avenues that Eskom explored and efforts to accommodate
[Johannesburg], the matter has reached a point where Eskom can simply no
longer afford to accommodate [Johannesburg] without putting further
financial strain on and harming its own business," Eskom said.

 

However, residents bemoaned electricity cut-offs by Eskom with a group of
businesses saying they "strongly condemns this move as unjust,
counterproductive, and potentially harmful to the residents and businesses
of Johannesburg." Some also accused Eskom of overbilling.

 

 

Disagreements between the utility company and consumers are not new in South
Africa. In 2023, there were allegations of consumers bypassing meter
verification but no metering faults were detected after an exercise by
technicians. That dispute was resolved.

 

Despite last December's resolution, the two parties are back at war. Mr
Ramokgopa said another verification and assessment exercise is needed to
locate the "point of failure" and evaluate it.

 

As an ex-mayor and current Eskom shareholder, the electricity minister is
aware of the frosty links between defaulting municipalities and
cash-strapped Eskom. Independent of the outcome of the evaluation,
Johannesburg will, at the end of November, settle the bill of 1.4 billion
rand ($78 million).

 

"The technical expert will come back to myself, executive mayor, and both
teams from Eskom and City Power to say to us that this is the true fact of
the situation," said Mr Ramokgopa, whose priority is, among other things, to
ensure electricity security.

 

The technical team's update is due on 25 November - about three weeks before
14 December Eskom-imposed deadline for the cut-offs.

 

Regardless of the verification process, the government will not let Eskom
effect power blackouts, officials said.

 

Experts said the effects will be too debilitating. Eskom's tiff is with the
local government, not end-users who are now placed in the middle of the
fracas.

 

Meanwhile, authorities and business entities in Johannesburg have done very
little to lead the way in reducing carbon emissions.

 

Eskom's immediate threat for now is falling revenues as users get off the
grid. Eskom, an ex-monopoly, also has independent power producers to contend
with. "When entities like [the City of Joburg] fail to pay Eskom timeously
or at all, [that scenario] forces Eskom to borrow additional money at
premiums to fund operational costs," the firm said in a statement.

 

"Borrowing money to fund operational cash shortfalls caused by the failure
of municipalities."

 

Having recently attached bank accounts belonging to a small-sized local
government to recover a bewildering 8 billion rand debt, nearly a tenth of
unpaid municipal bills, Eskom is determined to recover unpaid bills.

 

However, any outage would contradict Eskom's role of advancing "economic
growth" in a country already beset by worsening poverty.

 

According to Statista, a third of the workforce, or 8 million people, is now
jobless.

 

With the debt crisis threatening its existence, Eskom would have to brace up
for a tough 2025 if the regulator rejects the rate hikes.

 

Premium Times.

 

 

 

 

Africa Calls for Funding of Just Transition

The Minister of Forestry, Fisheries and the Environment, Dr Dion George, has
called for urgent action to reduce the cost of capital to fund pathways
towards a just transition.

 

Addressing the second annual High-level Ministerial Roundtable on the Just
Transition at the Conference of the Parties (COP29) in Baku, Azerbaijan, the
Minister said the high cost of capital in Africa is inhibiting the
continent's ability to access the transition's socio-economic opportunities.

 

"In 2021, the average cost of capital for energy projects was about seven
times higher in Africa than in Europe and North America. Reducing the cost
requires coordinated efforts from governments, financial institutions and
businesses to remove frictions, which add costs.

 

 

"The current global financial system is not designed to respond
appropriately and developing economy countries cannot access the scale and
quality of finance required to support their Just Transition Pathways and
meet their Nationally Determined Commitments.

 

"As developing economy countries, we have shared realities that constrain
our abilities to transition. We face a lack of means of implementation,
limited fiscal space, high costs of capital, debt burdens, limited access to
technologies and other factors. Critical within this is the lack of access
to the transition's economic opportunities," George said.

 

He said South Africa stands at the beginning of its transition journey, with
much work ahead in shaping and implementing the necessary policies and
actions.

 

"At the heart of all our climate actions is a steadfast commitment to
ensuring a just and equitable transition, one that empowers our workers,
communities, and all of society to define and drive the journey toward
low-emissions and climate-resilient development.

 

"Our National Framework on Just Transition is designed to embed fairness and
equity into our mitigation and adaptation strategies. This is reflected in
the formulation of our new Nationally Determined Contribution (NDC)
trajectory range, which aligns with the 1.5 degrees Celsius goal while
ensuring that equity and fairness remain at the forefront," the Minister
said.

 

George said for South Africa, transition pathways must create sustainable
jobs, enhance livelihoods, and generate opportunities for localised
industrialisation, moving towards a genuine transformative process that
supports an inclusive and competitive economy.

 

"In our collective commitment to achieve low carbon and climate resilient
development, international cooperation and unlocking access to transition
opportunities remains at the core," George said.

 

COP29 is currently underway until 22 November 2024 in Baku, Azerbaijan.

 

SAnews.gov.za.

 

 

 

Logan Paul accused of misleading fans over crypto investments

Logan Paul, the massively popular social media personality, is facing fresh
questions over his cryptocurrency dealings amid ongoing concerns he may have
profited from misleading fans.

 

The BBC has seen new evidence suggesting he promoted investments without
revealing he had a financial interest in them.

 

The influence of Paul - whose YouTube channel has more than 23 million
followers - appears to have caused prices in these investments to spike,
leading to suggestions he could have profited from sales of any tokens he
held.

 

Paul also currently faces a multi-million-dollar lawsuit over a failed
crypto project called CryptoZoo.

 

He denies any wrongdoing.

 

 

The BBC has discovered that shortly before Paul tweeted about a particular
crypto coin in 2021, an anonymous crypto wallet with close connections to
his public wallet had traded in the coin.

 

That anonymous wallet went on to make a $120,000 (£92,000) profit.

 

Crypto wallets (which can be physical devices or an online service) hold
users' keys to their accounts, and let people send, receive and spend
crypto.

 

Our finding comes after Time Magazine reported similar activity involving a
different cryptocurrency and another anonymous wallet.

 

For several months, Paul refused to talk to the BBC about our investigation.
Then he appeared to relent, inviting us to interview him at his gym in
Puerto Rico.

 

However, when our crew arrived, a Logan Paul lookalike turned up in the
YouTuber’s place, shortly followed by a crowd shouting abuse about the BBC.

 

Minutes after abandoning the interview, we received a lawyer’s letter on
behalf of Paul, warning us of the possible consequences if we published our
findings.

 

Meme coins

Logan Paul built a worldwide following as an internet celebrity by uploading
short video clips, first to the now-closed platform Vine, and then on
YouTube.

 

About three years ago, Paul’s videos began mentioning cryptocurrency
(crypto, as it is commonly known) more and more.

 

Crypto is a form of digital money that uses secure technology to work,
without the need for a central bank.

 

In 2021, Paul promoted a series of extremely high-risk crypto tokens called
“meme coins”.

 

These are usually inspired by internet jokes or memes and are supported by
online communities. Meme coins have no other real purpose other than to be
traded and, since they have no intrinsic worth, their value can - and often
does - drop to zero.

 

Paul extolled the virtues of an Elon Musk-themed meme coin known as
Elongate. “Elongate made me rich. Elon baby let’s go!” Paul announced in a
video clip to Maverick Club, his subscription-only fan club.

 

Following this namecheck, the price of Elongate rose by over 6,000% to an
all-time high. It then remained at that price for a few hours before it
crashed.

 

We cannot be sure of Logan Paul’s intentions when he released his clip.
However, it seems likely that his mention of Elongate affected its price.

 

Tech journalist Will Gotsegen says crypto is a market driven to some extent
by social media and influencers: “A big guy with a lot of influence...
someone like Logan Paul, buys a tonne of crypto and tells their followers
about it. They're going to buy it too.”

 

Logan Paul has now branched out as a star of US wrestling

The anonymous crypto wallet analysed by the BBC appears to have close
connections to Paul.

 

Anyone can see the transactions made by a wallet, but the owner can choose
to remain anonymous. If an owner attaches their name or personal details it
becomes a public wallet.

 

We could see that the wallet first received funds in February 2021 from a
public wallet owned by Logan Paul. It then started buying and trading
crypto.

 

 

Logan Paul, one of the biggest social media influencers in the world, is
facing criticism for his role in promoting cryptocurrency projects. Matt
Shea investigates the allegations.

 

Speaking to law enforcement and alleged victims, and trying to get close to
the man himself, Shea seeks to finally answer the question: did Logan Paul
do anything wrong?

 

Watch on BBC Three at 21:00, 20 November or on BBC iPlayer shortly after
broadcast

 

 

Red line

The wallet was later paid funds from Maverick Club and held Elongate when
Paul promoted it on 10 May 2021.

 

Shortly after, it also traded in another Musk-related meme coin - after Paul
had tweeted that it was headed “to the moon”. In the crypto community, this
means someone believes the price of the coin is about to shoot up.

 

About an hour before Paul’s tweet, the unknown wallet purchased almost
$160,000 (£123,000) worth of the token. The tweet prompted an influx of
buyers, spiking the price.

 

Twelve hours later, the wallet sold most of its holding. The total profit
made from this trade appears to be just over $120,000 (£92,000).

 

Logan Paul chose not to respond to the BBC’s allegations regarding the
crypto wallet, the trading that occurred within it, or his connection to it,
despite responding to some of our other requests via his legal team.

 

 

Dink Doink

In June 2021, Paul also promoted a meme coin called “Dink Doink”.

 

Anyone who bought it would own shares in a cartoon character that resembled
a metal coil. They would earn a portion of its earnings if it appeared in a
TV show or film.

 

Paul promoted the token on Twitter (as the site was then known), and told a
Telegram group dedicated to Dink Doink that he “believed” in it, saying: “I
think it’s going to go crazy.”

 

Again, this led to a huge influx of buyers, causing Dink Doink's value to
spike. Then - following a familiar pattern - large-scale holders of the
token began selling, causing its price to fall by 96% in just two weeks.

 

Time Magazine analysed another anonymous wallet that had bought Dink Doink
prior to Logan Paul’s promotion of the coin and then sold its holding
shortly after. This wallet later sent $100,000 (£78,000) to Paul’s public
wallet.

 

When the BBC asked the influencer about this wallet, his lawyers did not
deny that it belonged to him, or was held for his benefit, but were adamant
that the $100,000 that was transferred was not related to Dink Doink.

 

They do accept that Paul traded Dink Doink, but say he only made $17,000
(£13,400).

 

Puerto Rico

For several months, Paul refused to be interviewed by the BBC.

 

Then, unexpectedly, he agreed to talk to us at the boxing gym in Puerto Rico
that he co-owns with his brother.

 

We sent Paul a list of the allegations we wanted him to respond to, and his
PR team requested we travel to the Caribbean island, so he could answer in
person.

 

They also insisted we flew into the island while it was being pummeled by
Tropical Storm Ernesto, which had knocked out power to hundreds of thousands
of people.

 

At the gym, we noticed a strange atmosphere - with a suspicious number of
his own cameras pointed at us. Paul’s assistant insisted our cameras should
be recording from the moment the star entered the room, because of his
strict schedule and timekeeping.

 

Then things became even stranger. Instead of Logan Paul, a lookalike arrived
and sat down in front of our reporter, Matt Shea, and began impersonating
the YouTuber.

 

We called him out and began complaining to Paul’s assistant, asking whether
the real Logan Paul would be coming. At that moment, a group of people
suddenly appeared, apparently from nowhere, wielding banners and shouting
that the BBC were “paedophiles”.

 

We had flown all that way just to be trolled.

 

 

In the past few years, a number of celebrities have run into legal trouble
for promoting crypto to followers without disclosing that they had vested
interests.

 

Kim Kardashian was fined $1.26m (£1m) in 2022 for promoting a token called
EthereumMax on her Instagram account.

 

According to Gary Gensler, the head of the Securities and Exchange
Commission (SEC), the body policing the US investment industry, if a
celebrity is promoting a particular crypto token, they are “supposed to tell
you if they get paid, how much they get paid, whether they own the tokens,
whether they made money on the tokens, whether they actually know something
about the project”.

 

Logan Paul is now facing a lawsuit concerning his next venture in crypto -
CryptoZoo.

 

This was marketed as an online trading card game, but instead of cards,
CryptoZoo was to use NFTs (non-fungible tokens) - collectible pieces of
digital art that can have a value of their own.

 

To play CryptoZoo, it was necessary to buy a cryptocurrency called Zoo
Token, that could then be used to buy NFT “eggs”.

 

These eggs were supposed to eventually hatch into NFT “animals” that would
breed and give birth to NFT “hybrid animals” with names like penguin-shark
and panda-fin.

 

Paul’s team claimed these hybrid animals would somehow make participants
money by passively generating more Zoo Tokens.

 

“It’s a really fun game that makes you money,” he told his audience shortly
ahead of the launch in September 2021.

 

CryptoZoo attracted about $18.5m (£14.3m) in investment.

 

Rueben Tauk - a 21-year-old from north-east England - was among the Logan
Paul fans who bought into CryptoZoo.

 

“I was really excited to be part of something that he was doing.”

 

However, the game was beset by problems from the moment it was released.

 

“We were given certain expectations about features that would be released,”
Rueben told us. “A lot of the time those features wouldn’t work.

 

“After a certain point, you start to realise that something’s wrong.”

 

 

Rueben stands on a balcony in Paris with buildings in the background - he
wears a long dark coat and he is photographed in profile, looking down at
his phone

Rueben Tauk lost £33,000 investing in CryptoZoo

The value of the Zoo Tokens and the eggs started to plummet. Rueben says he
personally lost £33,000.

 

At least 130 investors are now involved in a lawsuit against Paul (Rueben is
not one of them). They claim they lost about $4.2m (£3.25m).

 

The lawyer behind the claim, Tom Kherkher - himself a popular YouTuber on
legal affairs - says the failure to deliver the game forms only part of the
case.

 

He says leaked messages reveal Paul and his team were involved in a “stealth
launch” of the Zoo Tokens, allowing them to quietly buy in at a low price.

 

“The team appeared to agree that they can begin selling once the total value
of all the Zoo Token in circulation hits $200m [£157m],” he says.

 

“If you had that document with that exact verbiage issued by a CEO of a
publicly traded company, they would be charged with fraud in two seconds.
That is insider trading.”

 

Paul has repeatedly denied any wrongdoing relating to CryptoZoo. Instead, he
has laid the blame on other members of the team whom he also says failed to
deliver the promised features.

 

Earlier this year, Paul announced a partial compensation scheme for
disappointed investors. He promised to refund people who had bought the NFT
eggs, but only if they agreed not sue him for anything relating to
CryptoZoo.

 

Paul is also bringing a libel claim against one of his online detractors in
the USA, for claims made about his motives.

 

Logan Paul’s immense popularity depends on his fans, and shows little sign
of declining.

 

In recent years, Paul has turned his hand to boxing and wrestling, as well
as launching the drinks company Prime, with British influencer KSI.

 

The product became notorious for its viral launch - with only a limited
stocks made available, Prime spawned a re-sale market with bottles being
advertised for hundreds of pounds. It was a testament to both Logan Paul and
KSI’s influence over their primarily young audience.

 

However, for at least one fan, his image has been tarnished for good.

 

“Once you listen to someone and trust what they’re saying and they betray
that trust,” says Rueben Tauk, “their words don’t mean anything to you any
more.”-BBC

 

 

 

 

TV networks MSNBC and CNBC to be spun off by Comcast

US media giant Comcast is set to spin off its NBCUniversal cable television
arm, as the industry continues to struggle with the emergence of streaming
giants like Netflix and Amazon Prime.

 

The BBC understands that the plan - set to be announced on Wednesday - is to
create a new company that will include channels such as MSNBC, CNBC, USA,
E!, Syfy and the Golf Channel.

 

The networks are still profitable and generated a combined revenue of $7bn
(£5.5bn) in the year to the end of September.

 

Comcast will keep the NBC broadcast television network, its film and
television studios and its theme parks, as well as its Peacock streaming
service.

 

 

Executives at Comcast believe the plan will be completed in about a year.
Their expectation is that Comcast will be better placed for growth after the
spinoff.

 

They are understood to believe the new company will be in a position to buy
other cable TV networks that could potentially go up for sale in the future.

 

The new firm will have the chairman of NBCUniversal's media group, Mark
Lazarus, as its chief executive.

 

Comcast's president, Michael Cavanagh, first hinted at the plan during a
call with investors last month.

 

At the time, Mr Cavanagh said he was exploring a strategy that could create
"a new well-capitalised company owned by our shareholders and comprised of
our strong portfolio of cable networks".

 

Comcast took control of NBCUniversal in 2011 before the rise of streaming.
At the time, its cable networks were seen as some of its most attractive
businesses.

 

But a growing number of cable TV viewers have been cancelling their
subscriptions and moving on to streaming platforms.

 

Comcast is the first major media company to make such a move.

 

Earlier this year, Warner Bros and Paramount Global cut billions of dollars
from the valuation of their cable TV networks.

 

Walt Disney has also considered spinning off its cable networks but ended up
scrapping the plan.-BBC

 

 

 

 

What the farmers' protest tells us about their argument with the government

The farmers' demonstration was best summed up in two images: real tractors
being driven by farmers around Parliament Square, and beside them a
collection of toy tractors being pedalled around by their children.

 

They illustrated the essence of the farmers’ argument: there is a
deep-seated cultural expectation that they will pass on their farm to the
next generation.

 

For many, it feels like a deep responsibility that stretches high into their
family tree, and so the expectation falls upon them to ensure the very thing
their forebears did for them they manage to as well – hand it down to their
sons and daughters.

 

As a reporter, I love covering protests and marches at Westminster.

 

They are an essential megaphone in the never-ending conversation of our
democracy.

 

I have been turning up at them with a microphone and camera for 20 years –
to witness and scrutinise those making the most of their much-cherished
right to come to London and – often – shout at the government.

 

 

I love them because people sufficiently passionate about their cause to trek
to the capital and then make a public, almost certainly contentious,
argument often deserve to be listened to and should be vigorously questioned
too.

 

And, for me, those conversations offer an insight into not just what those
protesting think, but why they think it.

 

This gathering of farmers left me with three thoughts:

 

Firstly, as we have already explored, there is the huge power of the
cultural expectation of handing on a farm to the next generation.

 

It is not just a business, but an identity, a belonging, a geographical
rootedness – and the prospect of not being able to pass it on generates huge
anger and emotion.

 

That is a big part of the explanation for why this argument has got so
noisy, so quickly.

 

Reuters Farmers protest against the government's agricultural policies in
London on 19 November 2024Reuters

 

Secondly, contested notions of fairness are so often central to the most
contentious political arguments, and this one is no different.

 

The government argues existing inheritance tax isn’t fair or sustainable –
as everyone else sufficiently well off to pay it is charged 40% and farmers
are charged nothing.

 

Ministers also argue the exemptions have tempted rich folk to buy up farm
land – pushing up its value – primarily to avoid inheritance tax.

 

And, as they are at pains to point out over and over again, they insist the
vast majority of family farms will be unaffected and those that are will be
charged 20%, half the rate charged to anyone else caught within its grasp.

 

Plus, they say, schools and hospitals desperately need more money.

 

Others say the farmers are a noisy, well-organised lobby group seeking to
shield their often considerable wealth and perpetuate a privilege to the
exclusion of others.

 

And all this brings us to the third big question here: what does it mean to
be rich?

 

Talking to farmers, very quickly our conversation would often involve very
big numbers - talk of assets running into a few million pounds.

 

These are huge figures that point to considerable wealth and yet the farmers
insist, for two reasons, they are not rich.

 

Their annual income is often modest, they point out - and they don’t value
their farm in numerical terms, but in emotional ones. The prospect of
selling it horrifies them; handing it on is what they seek to do.

 

The farmers insist they are determined to press on with their campaign.

 

Ministers insist they are determined to press on with their plans for
change.

 

You may choose to sympathise with the farmers’ arguments or not – or the
government’s arguments, or not – but the protests offer an insight into what
contributes to the view of many of the farmers, and why them backing down
doesn’t seem likely any time soon.-BBC

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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

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

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INVESTORS DIARY 2024

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
Faith Capital (Pvt) Ltd for general information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy or
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

 


 

 

 

 

 

 

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