Major International Business Headlines Brief::: 21 November 2024

[Bulls n Bears]

 <https://bullszimbabwe.com/> 

 


 

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

 


 

 


Major International Business Headlines Brief:::  21 November 2024 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  South Sudan: Warring in Sudan's Urban Areas Severely Disrupts Key to
Economy, Says UN Official

ü  Angola: Mitrelli and Angola Inaugurate Third Hospital in just one Year

ü  Kenya: CBK Rolls Out New Notes for 50, 100, 200 and 500 With New
Signatures

ü  Africa: Jada Raises $1m to Build Africa's AI Workforce for Global Demand

ü  Egypt's Amenli Secures $2.3m Funding to Expand Insurance Access

ü  Africa: Ihub Moves to New Nairobi Headquarters As It Expands Across
Africa

ü  South Africa: No Room for Construction Mafia

ü  Nigeria Must Increase Exportation Capacity for Economy Growth - Sanwo-Olu

ü  Kenya: Ruto Affirms Commitment to Sustain Economic Growth

ü  Ethiopia: Japan Marks 70-Year of Dev't Cooperation With Ethiopia

ü  Africa: AfDB Advocates Capital Market for Africa's Economic Progress

ü  Ethiopia: Govt Supports Bearing Fruits in Coffee Production - Producers

ü  Ethiopia Unveils 25-Year Economic Transformation Framework

ü  US charges Indian billionaire with fraud

ü  Palestinian olive harvest under threat from Israeli attacks and
restrictions

 


 <mailto:info at bulls.co.zw> 

 


 

South Sudan: Warring in Sudan's Urban Areas Severely Disrupts Key to
Economy, Says UN Official

Geneva — Sudan's war has disrupted its urban economy, once a mainstay, with
formal wage employment sharply declining, pushing many into precarious
self-employment or informal labour, offering scant security with health and
education equally deteriorating, says a UN development official.

 

Luca Renda, resident representative of the United Nations Development
Programme in Sudan, spoke to journalists in Geneva about a new UNDP report:
"The Socioeconomic Impact of Armed Conflict on Sudanese Urban Households.".

 

"Nearly half of the Sudanese population, around 26 million people, are
currently facing food insecurity, with the threat of famine looming for a
significant portion of the country," said Renda.

 

"Additionally, the number of internally displaced people in Sudan has
surpassed 11 million, underscoring the severe and widespread impact of the
ongoing conflict."

 

Since mid-April 2023, the conflict has engulfed the Sudanese Armed Forces
and the Rapid Support Forces group known as RSF, which has resulted in more
than 20,000 deaths and displaced nearly 13 million people, according to the
UN.

 

 

The army is led by Gen. Abdel Fattah al-Burhan, the head of the ruling
Sovereign Council, also known as SAF, and the RSF, led by his former deputy
Mohamed Hamdan Dagalo.

 

Ramesh Rajasingham, director of the UN Office for the Coordination of
Humanitarian Affairs (OCHA), told the UN Security Council on Nov. 12 that,
18 months into this conflict, Sudan's people continue to endure
"unimaginable suffering" amid unrelenting brutal violence.

 

"There are no signs of respite. Indeed, troubling projections suggest the
conflict is poised to escalate yet further. We continue to receive reports
of civilian casualties caused by heavy fighting in populated areas.

 

"We also continue to receive reports of shocking atrocities – most recently
of mass killings and horrific sexual violence in Aj Jazirah State--a
sickening hallmark of this conflict."

 

 

-       Civilians fleeing

 

Civilians continue to flee for their lives both within Sudan and across its
borders in what is now the world's largest displacement crisis.

 

As fighting raged in West Darfur and North Darfur, 58,000 people crossed
into Chad alone in October, bringing the number of new arrivals in eastern
Chad to more than 710,000 people.

 

More than 836,000 people have arrived in South Sudan from Sudan since the
start of the crisis, including more than 644,000 refugee returnees,
according to the UN Refugee Agency.

 

"The opening of the Adre crossing from Chad in August has provided an
important lifeline for people in the areas it serves," said Rajasingham.

 

Over the past three months, more than 300 aid trucks have crossed into Sudan
via the Adre crossing, carrying various forms of assistance for more than
1.3 million people.

 

 

"It is imperative that this crossing remains open for humanitarian supplies
and personnel for as long as is necessary," said the UN official.

 

However, Hassan Hamid Hassan, Sudan's envoy to the United Nations in Geneva,
told journalists shortly before the report was released, that the Adre
Crossing was being exploited to "transport weapons" by the United Arab
Emirates (UAE) to the Rapid Support Forces (RSF) paramilitary group, which
had initially led to the crossing's closure in February.

 

-       Monitoring activities

 

"During these three months, we were monitoring all the activities of
humanitarian convoys closely through the corridor, and we got the necessary
proof that the corridor is still under abuse, is still being used for other
purposes than humanitarian aid," Hassan told UN accredited journalists.

 

"The imminent threat of the utilization of this corridor for the supplement
of the militia is there, but at the same time, the good reasons
(humanitarian aid) behind the resumption of this corridor, once again, is
still there," he said.

 

"We don't want to stand against the delivery of immediate humanitarian,
life-saving needs to our people."

 

The Sudan envoy said, however, that Adre is expensive logistically. He
claimed that eight alternative corridors were open, including a
cost-effective river route from South Sudan and a shorter land route from
Chad.

 

 

 

 

Angola: Mitrelli and Angola Inaugurate Third Hospital in just one Year

This week, the Swiss company Mitrelli celebrated another milestone in the
West African country of Angola, inaugurating its third state of the art
hospital in the space of a year.  The Cuanza Norte General Hospital,
together with the two previously inaugurated hospitals — the General
Hospital in Cuanza Sul (October 2024) and the Bengo General Hospital
(November 2023) — contributes to the new expanded healthcare network which
reaches over 3 million residents, offering a total of 600 beds across more
than 100,000 m² of healthcare infrastructure and creates close to 4,000
jobs.

 

The new hospital alone has a capacity of 200 beds across 15,000 m² and
serves 500,000 residents as well as thousands more from neighboring
provinces. Angola has been investing unprecedented efforts to provide
healthcare to urban and rural Angolans alike. These new hospitals employ
innovative healthcare solutions, including in oncology, surgery,
rehabilitation, pediatrics, and maternity, as well as with adult and
neonatal ICUs. The Cuanza Norte facility also houses state-of-the-art
imaging diagnostics, a clinical analysis laboratory, and a hospital waste
processing unit, supporting both high-quality care and environmental
sustainability.

 

 

This integrated approach – at the heart of Mitrelli’s vision for the
continent – is redefining Angola’s healthcare landscape and advancing a
vision for sustainable, community-centered growth.

 

Indeed, beyond healthcare, this hospital is designed to become an engine for
economic and professional growth, generating jobs within the community and
setting a new standard in healthcare talent development. At the heart of
this public-private partnership is a broad and deep comprehensive training
program with the goal of empowering Angolan professionals with the expertise
and resources to ensure the sustainability and self-sufficiency within the
national healthcare system.

 

 

Haim Taib, Founder and President of Mitrelli and Menomadin Foundation,
noted, “A strong healthcare system is foundational to the growth and
prosperity of any nation, especially in regions with the world’s
fastest-growing populations. When healthcare is accessible and robust,
people live longer, healthier lives; employment opportunities expand; and
communities prosper—contributing directly to economic resilience and
national stability.”

 

Rodrigo Manso, Country General Manager of Mitrelli Angola, added that,
“We’re incredibly proud to inaugurate our third hospital within the span of
a year, a milestone that underscores our dedication to this mission and to
the people of Angola. Mitrelli’s synergy across sectors allows us to deliver
customized, high-standard solutions that respond to Angola’s unique needs
and aspirations, including the full range of infrastructure essential to
these facilities. In partnership with Angola’s leadership, we’re creating
sustainable change that serves generations to come, transforming these
hospitals into symbols of a nation’s dedication to its people. It’s an honor
to work alongside a government so committed to shaping a brighter future for
all.”

 

Mitrelli, a Swiss-based international Company with over a decade of profound
impact in Africa has been collaborating closely with African leadership,
governments, businesses, and communities, investing in and implementing
innovative, holistic, and sustainable national-scale solutions. To date, the
company has over 100 national-scale projects implemented across the
continent, including in the areas of housing, water, food, and energy—and
societal accelerators—education, healthcare, and technology.

 

 

 

 

Kenya: CBK Rolls Out New Notes for 50, 100, 200 and 500 With New Signatures

Nairobi — The Central Bank of Kenya (CBK) has announced the rollout of newly
redesigned banknotes, following the retirement of former CBK Governor
Patrick Njoroge.

 

This follows a public notice issued on August 6, 2024, detailing changes to
the denominations.

 

In a statement, the financial regulator confirmed that all future banknotes
will feature the signature of the current CBK Governor, Kamau Thugge,
alongside that of the Treasury Principal Secretary, Dr. Chris Kiptoo, who
now serves as a Member of the CBK Board.

 

The changes come after Patrick Njoroge's retirement from the CBK Governor
role in mid-June 2023.

 

The redesign will affect all denominations, including the Sh50, Sh100,
Sh200, Sh500, and Sh1,000 notes. The year of print will be updated to 2024,
and the new notes will incorporate advanced security features, including
colour-changing security threads.

 

"We wish to inform the public that the release of the Sh50, Sh100, Sh200,
and Sh500 denominations is underway. Aside from the changes highlighted, all
other features of the banknotes remain the same as those issued in 2019,"
the statement read.

 

The release of the Sh1,000 note has also begun, with CBK clarifying that
existing notes remain legal tender and will continue to circulate alongside
the new ones.

 

"We would like to remind the public that all other banknotes currently in
circulation remain legal tender and will continue to be in use alongside the
newly released banknotes," CBK added.-Capital FM.

 

 

 

Africa: Jada Raises $1m to Build Africa's AI Workforce for Global Demand

JADA, a Lagos-based data and analytics talent hub, has secured $1 million in
funding to train and deploy Africa's next generation of AI and data
professionals.

 

Founded in 2024 by Massimiliano Spalazzi, former CEO of Jumia Nigeria, and
Olumide Soyombo, co-founder of Bluechip Technologies, the startup aims to
address the global AI talent shortage by training over 100 professionals
annually.

 

 

JADA will focus on experienced data professionals, offering a 4-month
training program to upskill candidates in AI, machine learning, and
generative AI. The startup uses an AI-driven selection process to screen
applicants for technical, cultural, and background fit.

 

You can follow Daba's reporting on Africa on WhatsApp. Sign up here

 

Key Takeaways

 

JADA's mission challenges Africa's current role in low-level AI tasks by
cultivating a skilled AI workforce capable of leading global projects. By
targeting businesses in Europe and the Middle East, JADA leverages Africa's
cost, language, and geographical advantages, positioning the continent as a
key player in addressing the global AI skills gap. With seasoned leadership
and a clear revenue model, JADA is poised to redefine Africa's place in the
global tech ecosystem.

 

-Daba Finance.

 

 

 

Egypt's Amenli Secures $2.3m Funding to Expand Insurance Access

Amenli, an Egyptian insurtech broker licensed by the Financial Regulatory
Authority (FRA), has raised $2.3 million in a new funding round led by the
European Bank for Reconstruction and Development's Venture Capital arm
(EBRD) with follow-on support from Y Combinator (YC).

 

 

The funds will accelerate Amenli's growth, enhance its technological
capabilities, and drive digital transformation in Egypt's underpenetrated
insurance market.

 

Amenli plans to leverage the funding to diversify distribution channels,
invest in product development, and utilize FRA-supported initiatives like
eKYC and eSignature. Egypt's insurance penetration is among the lowest
globally, but Amenli aims to increase it to 5%, targeting a $20 billion
market size.

 

 

Key Takeaways

 

Amenli's rapid growth, including a 14x increase in retail distribution
partnerships and a 5x expansion of SME offerings, underscores its leadership
in Egypt's evolving insurance landscape. Backed by strong investors,
advanced AI-driven technology, and regulatory support, Amenli is positioned
to capitalize on the country's untapped insurance market, offering
personalized and efficient solutions for individuals and SMEs while driving
industry-wide transformation.

 

-Daba Finance.

 

 

 

 

Africa: Ihub Moves to New Nairobi Headquarters As It Expands Across Africa

iHub, formerly acquired by CcHub, has relocated to a new, modern
headquarters in Nairobi's Lavington area.

The new facility includes a media and entertainment hub, co-working spaces,
offices for venture capital firms, and support for film, TV, and social
media professionals.

iHub's growth is evident through partnerships with Safaricom and Spark
Accelerator, supporting startups like Chaptr and Chumz, and investing $1.2
million in 36 edtech startups through collaboration with Mastercard
Foundation.

Five years after being acquired by CcHub, iHub has relocated to a modern,
two-storey headquarters in Nairobi's upscale Lavington area.

 

 

The new facility features a media and entertainment hub to support film, TV,
and social media professionals, along with co-working spaces, private
booths, conference rooms, and offices for venture capital firms such as
TLcom and Verod-Kepple Africa Ventures.

 

The move signifies iHub's growth and its commitment to Kenya's tech
ecosystem. This year, iHub partnered with Safaricom and Spark Accelerator to
support startups like Chaptr and Chumz, while investing $1.2 million in 36
edtech startups through a Mastercard Foundation collaboration.

 

You can follow Daba's reporting on Africa on WhatsApp. Sign up here

 

Key Takeaways

 

iHub's new headquarters reflects its scaling operations in Kenya while
bolstering its pan-African strategy with operations in Nigeria, Rwanda, and
Namibia. Leveraging a syndicate model, iHub connects startups with $20,000
to $250,000 funding through loans, grants, and convertible notes. Meanwhile,
CcHub is broadening its footprint, launching the Janta TechHub in Togo to
support innovation across Africa. These initiatives underline iHub and
CcHub's roles as critical enablers of the continent's tech ecosystem.-Daba
Finance.

 

 

 

 

South Africa: No Room for Construction Mafia

Public Works and Infrastructure Minister Dean Macpherson has called on the
police to take stronger action to arrest those found guilty of disrupting
infrastructure projects.

 

Macpherson said government cannot negotiate with criminals in order to be
able to build the essential roads, dams, schools and hospitals that people
need.

 

Addressing the National Construction Summit on Crime-Free Construction
Sites, held at the Inkosi Albert Luthuli International Convention Centre in
Durban on Tuesday, Macpherson said the summit is not just another "talk
shop", but it is about taking action.

 

 

"The calibre of people gathered here - including but not limited to, the
Minister of Police, KZN Premier, Deputy Ministers and MECs - proves our
collective commitment to find solutions to this issue," Macpherson said.

 

Macpherson said they are gathered to have difficult conversations to build
understanding and develop a concrete plan to permanently bring an end to the
criminality and the thuggery.

 

"As South Africans have shown time and time again, by working together, we
are able to achieve anything we put our minds to.

 

"The criminal syndicates, who often present themselves as legitimate
business forums, have simply delayed too many public and private
construction projects because they demanded a portion of the project's
costs," Macpherson said.

 

Macpherson said it is crucial to end disruptions at construction sites, if
the vision to turn South Africa into a construction site is to be realised.

 

 

"... We cannot be negotiating with criminals to allow construction projects
to continue. Not only do disruptions to construction sites cost contractors,
businesses and the State millions, but it also delays essential services to
vulnerable communities," the Minister said.

 

He said disruptions at construction sites result in delays in sanitation,
water, schools, hospitals and police stations, which serve millions of
people.

 

"We simply cannot continue to allow this to happen. Furthermore, disruptions
to construction sites chase away private-sector investment. No business
wants to build homes, factories or offices under these conditions.

 

"This means fewer jobs are created at a time when unemployment is at
historic levels. We will never be able to improve the lives of our people
when this lawlessness continues. The action required to bring an end to
criminal syndicates at construction sites may not be easy.

 

 

"It will require that we work closely together with the private sector and
the police to promptly identify and address issues experienced," Macpherson
said.

 

Macpherson commended the Minister of Police, Senzo Mchunu, the National
Police Commissioner, General Fannie Masemola, and KwaZulu-Natal Provincial
Commissioner, Lieutenant-General Nhlanhla Mkhwanazi, for the work they have
done over the past few months to bring a new sense of urgency to address the
issue of the construction mafia head-on.

 

The summit was held to address the growing concerns surrounding safety, the
construction mafia, security and other criminal activity on construction
sites, as well as to promote practical solutions for building crime-free
environments within the construction industry.

 

The summit brought together key stakeholders, including government
officials, industry leaders, law enforcement agencies and representatives
from the construction sector to engage in meaningful dialogue and share best
practices for preventing crime at construction sites.-SAnews.gov.za.

 

 

 

 

Nigeria Must Increase Exportation Capacity for Economy Growth - Sanwo-Olu

Lagos State governor Babajide Sanwo-Olu has stressed the need for Nigeria to
increase its exportation capacity to revamp its economy.

 

The governor, who stated this as the guest lecturer at the 36th convocation
ceremony of Yaba College of Technology, Yaba, Lagos, noted that the crisis
of foreign exchange is one of the fundamental issues at the root of the
nation's lingering economic situation.

 

Sanwo-Olu's lecture on "Developing Exportable Alternatives for Nigeria's
Economic Recovery" explained that overdependence on foreign exchange has
done far more harm than good to the nation's economy andpeople's mindsets.

 

 

He commended President Bola Tinubu's administration for laying the
foundation for improving export capacity to reposition the Nigerian economy.

 

"This crisis takes two main forms: the monopoly of crude oil and gas on our
foreign exchange earnings. Our over-dependence in this way has done far more
harm than good to the economy and our mindsets as a people."

 

Sanwo-Olu noted that to overcome the problem, Nigeria needs to pay more
attention to exporting products, saying, "As we gradually but steadily make
our way into the phase of recovery, one of the most important things we can
do as a people and a nation is to increase the focus on our export capacity
and potential."

 

According to him, Nigeria should focus on exporting processed materials
rather than raw materials, saying that is the only way to take better
advantage of her exports.

 

"Now, there's a caveat here. I do not mean raw materials and unprocessed
goods when I speak about agricultural exports. If there is one lesson we
have learnt over many decades, there is no value or pride in exporting raw
materials to the world.

 

"The countries that prosper from natural resources are the ones that process
and add value to it before exporting it. In addition, often these are not
even the countries in which those natural resources are to be found most
abundantly."-Leadership.

 

 

 

 

Kenya: Ruto Affirms Commitment to Sustain Economic Growth

President William Ruto has reaffirmed the government's commitment to
containing inflation and driving economic growth.

 

Speaking during the Ministerial Performance Contract signing at State House
on Tuesday, Ruto emphasized that delivering the Bottom-Up Economic
Transformation Agenda remains a top priority for his administration.

 

"I am committed to honoring that trust and Cabinet Secretaries should
equally do their part as set out in their terms of appointment and as
demanded by the constitution, the law of Kenya and the electorate," Ruto
asserted.

 

 

The Head of State underlined the need to enhance service delivery to
citizens, a requirement he noted is guaranteed under the Constitution.

 

"These provisions along other laws enacted under them, when receiving public
services define the expectations and entitlement of Citizens," The President
said.

 

"For us, they set the standard we must uphold at all times in our
performance individually, and also collectively," he told Cabinet
Secretaries and Principal Secretaries.

 

The performance contract signing came a week after the Cabinet reported
positive macroeconomic indicators which Cabinet Office said pointed to an
economic turnaround.

 

"The Cabinet noted that the administration's efforts over the past two years
to turn around the economy had successfully set the country on a path to
renewal, marking the start of a new era of economic renaissance," the
Cabinet Office reported on November 14.

 

Easing inflation

 

The statement highlighted a significant drop in inflation, which declined to
2.7 per cent in October, down from a peak of 9.6 per cent in September
2022--the lowest inflation rate since 2007.

 

President Ruto noted that the prices of staple foods, such as maize, beans,
and peas, had decreased over the past year.

 

Additionally, foreign exchange reserves at the Central Bank of Kenya have
reached an all-time high of $9.5 billion, reflecting an increase of $2.4
billion and equivalent to 4.4 months of export cover.

 

The reserves have been on an upward trajectory since September, bolstered by
the International Monetary Fund's (IMF) approval of a $606.1 million loan to
Kenya on October 31.

 

Ruto also indicated that Kenya's economic growth remains robust, ranking
among the highest globally, with 5.6 percent growth in 2023 and projections
of 5 percent growth this year and 5.6 percent next year.

 

The IMF has projected Kenya's real gross domestic product (GDP) growth to
reach 5 per cent in 2024 and 2025, noting that the economy remains
resilient, with growth surpassing the regional average.

 

Inflation is decelerating, and external inflows are supporting the shilling
while building external reserves, despite challenging socio-economic
conditions.

 

The Cabinet reported a positive trend in interest rates, noting that their
decline will reduce domestic borrowing costs and create fiscal space.

 

Additionally, Cabinet noted Kenya Revenue Authority's (KRA) tax collections
had grown by 11.5 per cent, marking a double-digit growth.

 

-Capital FM.

 

 

 

Ethiopia: Japan Marks 70-Year of Dev't Cooperation With Ethiopia

ADDIS ABABA - The Embassy of Japan and Japan International Cooperation
Agency (JICA) Ethiopia Office celebrated 70 years of Japan's development
cooperation with Ethiopia which was launched in 1954 when the latter joined
in the Colombo Plan.

 

Japan is also marking the 50th anniversary of dispatching of volunteers to
Ethiopia and the 30th anniversary of the opening of JICA Ethiopia Office,
highlighting the two countries shared achievements and future aspirations.

 

In his welcoming remark yesterday, Japanese Ambassador to Ethiopia SHIBATA
Hironori said that the two countries have enjoyed nearly 100-years of
friendship since the Treaty of Amity and Commerce was signed in 1930 during
the Ethiopian imperial era. This treaty marked the first diplomatic
relations Japan opened with an African country.

 

 

Currently, another pillar of Japanese assistance is the support in the
northern part of Ethiopia, for recovery and reconstruction, which includes
education, health and peace building. "We have invited about 3,700
Ethiopians to Japan, including government staff, as well as having
dispatched about 2,200 Japanese experts to various ministries in Ethiopia
and over 700 Japanese Overseas Cooperation Volunteers in total have been
dispatched to work with Ethiopian vocational counterparts."

 

"We strongly hope that this will lead to the further enhancement of the
historically cordial bilateral relations between our two countries, and
peace and prosperity for the world.It is my pleasure to welcome you all to
this pivotal occasion celebrating the 70th Anniversary of Japan's Official
Development Assistance (ODA), jointly hosted by the Embassy of Japan and the
JICA. Our development cooperation is characterized by respect for recipient
countries' ownership and their own efforts in development, as well as equal
partnerships with them. Based on the idea that "Nation building begins with
human resource building" Japan has been engaged in a wide range of human
resource development, high-quality infrastructure development, and other
activities," the ambassador remarked.

 

 

During the event, Agriculture State Minister Meles Mekonnen (PhD) said that
JICA has been working across various sectorsin Ethiopia including
agriculture, education, health and private sector development and
infrastructure development.

 

JICA has been supporting in many areas such as in food security, climate
change, and agricultural insurance market oriented extension to enhance crop
production and productivity thereby ensuring income generation for farmers.
Currently there are nine JICA projects in agriculture sector that includes
promotion of rice production, market oriented extension delivery through
small holder horticulture empowerment and promotion, agricultural insurance,
science and technology research partnership project and others.

 

JICA Ethiopia Office Country Representative Oshima Kensuke said that the
main focus areas of the organization are human resource development,
enhancing manufacturing sectors to sustain Ethiopia's sustainable economic
growth.

 

Only in Amhara state in 2023, 3000 farmers have trained, and also JICA is
working to improve access to safe water and ensure the public's access to
education and enhance education quality. "Since 2007, 76 schools were
constructed and we have been assisting road connectivity via construction
and infrastructure improvement."

Ethiopian Herald.

 

 

 

Africa: AfDB Advocates Capital Market for Africa's Economic Progress

ADDIS ABABA- The African Development Bank (AfDB) has emphasized the critical
role of establishing a capital market in fostering economic growth,
particularly for capital-intensive infrastructure investments across Africa.

 

AfDB's Deputy Director General for the East African Region, Leandre Bassole
(PhD), told The Ethiopian Herald that creating a comprehensive legal and
regulatory institutional framework is vital for capital market development.
He highlighted that a robust capital market provides businesses with
diversified funding options and broadens investment opportunities for
African institutional investors.

 

 

Bassole underscored that these efforts align with AfDB's ten-year strategy
to mobilize financing from a variety of development partners across the
continent. In support of Ethiopia's commitment to financial sector
liberalization, the AfDB plans to collaborate closely with the Capital
Market Authority to build a resilient and efficient domestic capital market.

 

"The Bank is set to provide technical assistance for regulatory supervision
and the operation of Ethiopia's stock exchange, enabling better access to
long-term financing and skills development for the public and private
sectors, including small and medium-sized enterprises (SMEs)," he remarked.

 

According to him, the capital market's role in mobilizing savings is pivotal
to funding critical infrastructure projects, which are essential for
sustained economic growth.

 

The Ethiopian Capital Market Authority ECMA, Director General, Hana Tehelku,
stressed that involving both investors and the public is crucial for the
capital market to support the economy effectively. The Authority has already
licensed two investment service advisory firms to enhance public
participation through collective investment schemes.

 

"The focus will be on regulations that benefit small enterprises and foster
an inclusive market. This involves licensing and supervising market
participants such as securities exchanges and brokers, and developing
diverse financial products to promote fairness, transparency, and efficiency
in the market," Hana explained.

 

The ECMA also aims to safeguard investors by mitigating market risks and
ensuring integrity in the evolving financial landscape. These strategic
initiatives aim to transform Ethiopia's capital market into a vibrant
economic force, accelerating growth and development across sectors.

Ethiopian Herald.

 

 

 

 

Ethiopia: Govt Supports Bearing Fruits in Coffee Production - Producers

ADDIS ABABA - The productivity and quality of Ethiopian coffee has seen a
substantial improvement amid sustainable support from the government and
experts, Coffee Producers said.

 

Coffee Producers told local media that the quality and production of coffee
has been improving since the government and experts sustained their support
at each level.

 

According to Coffee Producer Tatek Demisse, the support and monitoring
mechanisms of the government and agricultural experts are greatly
contributing to improve productivity, quality and export of the cash crop.

 

 

The country should exert more effort to improve coffee production and be
competitive in the global market through utilizing its huge potential. In
this regard, supporting smallholder farmers is crucial to improve coffee
productivity and quality, he said.

 

"Now, I recognized that producing in small land with high quality has great
importance than owning or having large farms that don't meet quality
production. This increases profitability as it gives an opportunity to
manage and keep quality production."

 

The recent implementation of macroeconomic reform is contributing to address
major bottlenecks that prevent the country from fully benefiting from its
rich coffee resources, Tatek added.

 

Coffee Producer Tilahun Cheweka believed that exporting quality coffee to
the global market requires the sustainable support of the government.

 

Although domestic consumption has been growing in Ethiopia, export is also
improving in line with the ever increasing production, he noticed.

 

According to him, the country's coffee production has been massively
increasing as well as its quality improving having the above mentioned
technical and capacity building support from government and experts.

 

The country has planned to secure about two billion USD during this
Ethiopian fiscal year.-Ethiopian Herald.

 

 

 

 

Ethiopia Unveils 25-Year Economic Transformation Framework

ADDIS ABABA - Government has made public a long-term economic transformation
plan that could span 25 years.

 

During the Financial and Private Sector Dialogue on the State and Outlook of
the Ethiopian Economy held yesterday, Plan and Development Minister Fitsum
Assefa (PhD) emphasized the urgency of transforming Ethiopia's economy,
which has experienced growth but lacks structural change over the past
decades.

 

The minister, therefore, called on the private sector to engage more in
secondary and tertiary sectors in a bid to ensure the economic
transformation.

 

 

According to Fitsum, Agriculture continues to dominating the export, GDP,
and employment. Countries including Ethiopia are heavily reliant on primary
sectors and struggle to achieve transformation.

 

She underlined the need for significant growth in the manufacturing sector
as it is expected take a larger share of the GDP in the future.

 

While Ethiopia has maintained a 7.2% average growth over the past six years
of reform, structural transformation remains intangible. "Approximately 70%
of the employment force is still dependent on agriculture. This highlights
the critical need for economic transformation alongside growth," she added.

 

Fitsum also highlighted Ethiopia's favourable demographics, strategic
geographical location, and cultural ties with neighbouring countries as key
opportunities to drive the transformation initiative.

 

National Bank of Ethiopia Governor Mamo Mihiretu also added that recent
reforms have encouraged private sector engagement, particularly in the
financial sector, which supports manufacturing and other secondary economic
activities.

 

"The government has launched and enhanced initiatives in manufacturing and
industrial sectors with targeted credits and supportive legal frameworks,"
Mamo said.

 

The government's long-term plan (a 25-year framework) designed to achieve
sustained economic transformation, is anticipated to align the country with
global standards for structural development.-Ethiopian Herald.

 

 

 

 

US charges Indian billionaire with fraud

Indian billionaire Gautam Adani has been charged with fraud in the US, which
has accused him of orchestrating a $250m (£198m) bribery scheme and
concealing it to raise money in the US.

 

The criminal charges, filed on Wednesday in New York, are the latest blow to
62-year-old Mr Adani, one of India's richest men, whose business empire
extends from ports and airports to renewable energy.

 

In the indictment, prosecutors alleged the tycoon and other senior
executives had agreed to the payments to Indian officials to win contracts
for his renewable energy company expected to yield more than $2bn in profits
over 20 years.

 

The Adani Group did not immediately respond to a request for comment.

 

The conglomerate has been operating under a cloud in the US since 2023, when
a high-profile company published a report accusing it of fraud. The claims,
which Mr Adani denied, prompted a major market sell-off.

 

Reports of this bribery probe have been circling for months. Prosecutors
said the US started investigating the company in 2022, and found the inquiry
obstructed.

 

They allege that executives raised $3bn in loans and bonds, including from
US firms, on the backs of false and misleading statements related to the
firm's anti-bribery practices and policies, as well as reports of the
bribery probe.

 

“As alleged, the defendants orchestrated an elaborate scheme to bribe Indian
government officials to secure contracts worth billions of dollars and...
lied about the bribery scheme as they sought to raise capital from U.S. and
international investors,” US Attorney Breon Peace said in a statement
announcing the charges.

 

“My office is committed to rooting out corruption in the international
marketplace and protecting investors from those who seek to enrich
themselves at the expense of the integrity of our financial markets,” he
added.

 

On several occasions Mr Adani met personally with government officials to
advance the bribery scheme, officials said.

 

Mr Adani is a close ally of Indian Prime Minister Narendra Modi. He has long
faced claims from opposition politicians alleging that he has benefited from
his political ties, which he denies.

 

The US Attorney positions in the US are appointed by the president. The
filing comes just weeks after Donald Trump won election to the White House,
pledging to overhaul the US Justice Department.

 

Last week on social media, Mr Adani congratulated Trump on his election win
and pledged to invest $10bn in the US.-bbc

 

 

 

 

Palestinian olive harvest under threat from Israeli attacks and restrictions

On a Thursday afternoon towards the end of last month, a 59-year-old
Palestinian woman set out to gather olives on her family’s land near the
village of Faqqua, in the north of the occupied West Bank.

 

It was something that Hanan Abu Salameh had done for decades.

 

Within minutes, the mother of seven and grandmother of 14 lay dying in the
dust of the olive grove, with a bullet wound in her chest - she’d been shot
by an Israeli soldier.

 

Even though the family had co-ordinated their intention to pick olives with
the Israel Defense Forces (IDF), according to her son Fares and husband
Hossam, the soldier fired several shots as other family members fled for
cover.

 

The IDF says it’s investigating the incident, but Hanan’s grieving relatives
have little hope or expectation that her killer will be brought to justice.

 

This wasn’t an isolated incident.

 

 

Israeli settlers are seizing Palestinian land under cover of war - they hope
permanently

Palestinian killed as Israeli settlers torch West Bank village

Harvesting olives is an age-old ritual and also an economic necessity for
many Palestinians, but, according to the UN, it is increasingly precarious.

 

Farmers across the West Bank - internationally regarded as Palestinian land
occupied by Israel - face heightened risks, like organised attacks by
Israeli settlers seeking to sabotage the olive harvest, along with the use
of force by Israeli security forces to block roads and Palestinians' access
to their lands.

 

“Last year we couldn’t even harvest our olives, except for a very small
amount,” says Omar Tanatara, a farmer from the village of Umm Safa.

 

“At one point, the army came, threw the olives we’d already gathered on the
ground, and ordered us to go home,” says Omar, who is also a member of the
village council.

 

“Some people were even shot at and olives trees were cut down with saws –
that’s how we later found them,” adds Omar, as he and other villagers use
small hand-held rakes to pull this year’s harvest from their remaining trees
while they can.

 

 

Women harvesting olives in the village of Umm Safa

The olive harvest is a vital activity for the Palestianian economy in the
West Bank

Even when Israeli and international activists accompany villagers to their
olive groves, hoping to deter the threat, there’s no guarantee of safety.

 

Zuraya Hadad instinctively winces as we watch a video of the incident in
which her ribs were broken by a masked man wielding a large stick.

 

The Israeli peace activist had been helping Palestinian farmers pick their
olives when she was assaulted without provocation.

 

Rather than arresting her attacker, Israeli soldiers, who’d accompanied
settlers to the site, just told him to move on.

 

“Even when we come to help, it doesn't guarantee that the Palestinians can
harvest their olives,” Zuraya tells me as she recovers from her injuries at
home.

 

“We try to raise awareness, but in the end it's either the settlers steal
the olives or cut the trees, or they remain unpicked and go to waste.”

 

Land is at the heart of the decades-old conflict between Israel and the
Palestinians - who controls it and who has access to it.

 

For thousands of Palestinian families and villages, cultivating and
harvesting olives is a big part of their economy.

 

But many say that, in recent times, access to trees on their land has been
impeded, often violently by Israeli settlers.

 

Hundreds of trees - which can take years to reach fruit-bearing maturity -
have been deliberately burned or cut down, says the UN.

 

More than 96,000 dunums (approximately 96 sq km; 37 sq miles) of olive
groves in the West Bank also went uncultivated in 2023 because of Israeli
restrictions on access for Palestinian farmers.

 

 

Israeli peace activist Zuraya Abad

Israeli peace activist Zuraya Hadad was attacked by a masked man as she
accompanied Palestinian farmers to the harvest

After being gathered by hand, villagers from Umm Safa take sacks full of
olives to the nearby factory, where the presses have restarted this season.

 

Olives are the most important agricultural product in the West Bank. In a
good year, they're worth more than $70m (£54m) to the Palestinian economy.

 

But income was well down last year and this year will be even worse, says
factory owner Abd al-Rahman Khalifa, as even fewer farmers are able to
harvest their crop owing to attacks by settlers.

 

“Let me give you an example,” he tells me.

 

“My brother-in-law in Lubban - next to the Israeli settlement - went to pick
his own olives, but they broke his arms and they made him leave along with
everyone who was with him.”

 

“We, as Palestinians, don’t have petrol or big companies. Our main
agricultural crop is olives,” he adds. “So, like the Gulf depends on oil,
and the Americans on business, our economy is dependent on the olive tree.”

 

On the hill overlooking the olive groves of Umm Safa stands an illegal
settler outpost - a farm.

 

The extremist settler who runs it, Zvi Bar Yosef, was sanctioned this year
by the UK and other Western governments for repeated acts of violence
against Palestinians, including twice threatening families at gunpoint.

 

Over the last year of the war in Gaza, Jewish settlers have been emboldened
by the support of far-right Israeli ministers like Itamar Ben-Gvir.

 

As national security minister, he has given out free firearms to hundreds of
settlers and has encouraged them to assert their right to what - they say -
is their "God-given" land.

 

Ben-Gvir has also been accused of openly supporting the disruption of olive
harvesting on Palestinian land.

 

At the olive press, farmers wait patiently in the yard to witness the
transformation of the olives they’ve been able to gather this year into
"liquid gold".

 

The olive tree has been a symbol of this land for centuries.

 

For generations of Palestinians, it is their link to the land - a link that
is under threat now more than ever.-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

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

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

Twitter (X):        @bullsbears2010

LinkedIn:           Bulls n Bears Zimbabwe

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



 

 

 


 

INVESTORS DIARY 2024

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


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

 


 

 


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

 


 

 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241121/937fb43a/attachment-0001.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 9458 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241121/937fb43a/attachment-0002.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image002.jpg
Type: image/jpeg
Size: 29356 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241121/937fb43a/attachment-0003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 29321 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241121/937fb43a/attachment-0004.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image004.png
Type: image/png
Size: 34378 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241121/937fb43a/attachment-0003.png>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image005.jpg
Type: image/jpeg
Size: 29353 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241121/937fb43a/attachment-0005.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: oledata.mso
Type: application/octet-stream
Size: 65617 bytes
Desc: not available
URL: <http://listmail.bulls.co.zw/pipermail/bulls/attachments/20241121/937fb43a/attachment-0001.obj>