Major International Business Headlines Brief ::: 06 August 2025

Wed Aug 6 11:52:08 CAT 2025

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Major International Business Headlines Brief :::  06 August   2025 

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ü  Ethiopian Airlines Renews Call for Open Skies

ü  Rwanda: Top Kigali Restaurant Staff Seek Legal Redress Over Unpaid Wages

ü  Nigeria: Foreign Vessels' Deployment of Armed Guards in Nigeria's Waters Alarming - Analysts

ü  Rwanda: Nation Media Group Changes Ownership

ü  Africa: Equal Footing - Building Pathways for Landlocked Developing Countries to Participate in Global Economy

ü  Africa Attracts Billion Dollars in Gold Mining Investments

ü  South Africa: Johannesburg Stock Exchange Weighs 24-Hour Trading Amid Global Shift

ü  South Africa: Mantashe Seeks Wider Market for SA's Natural Diamonds

ü  South Africa: Mantashe Seeks Wider Market for SA's Natural Diamonds

ü  Ghana: Ministry of Health to Host Ghana Vaccine Manufacturing Forum

ü  Ethiopian Airlines Reports $7.6b Revenue, Confirms Frozen Funds in Eritrea Remain Inaccessible

ü  South Africa: New Market Agent Opens Doors for Small Farmers

ü  Ethiopian Airlines Group Earns 7.6 Billion USD in Revenue for 2024/2025 Fiscal Year

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Ethiopian Airlines Renews Call for Open Skies

Ethiopian Airlines Group reiterated its strong support for the African Union's Single African Air Transport Market (SAATM), a key initiative under Agenda 2063, emphasizing the urgent need to remove aviation restrictions across Africa.

At the Group's annual press conference, CEO Mesfin Tasew reported that Ethiopian Airlines secured 7.6 billion USD in annual revenue, marking an 8 percent increase from the previous fiscal year.

Despite notable growth, challenges such as the lack of a unified African air transport market, geopolitical instability, ongoing conflicts, shifting policies, and market volatility continue to affect operations.

Mesfin highlighted that the airline is unable to fly to Mauritius due to an air traffic sanction. He noted that SAATM's implementation would allow African airlines to operate freely, enhancing competition and delivering affordable, accessible services to passengers.

During the past fiscal year, Ethiopian Airlines served 19 million passengers and transported 785,323 tons of cargo, representing 11% and 4% growth, respectively.

"These achievements maintain our position as Africa's leading airline," Mesfin said, stressing that safety, destination expansion, and capacity building remain priorities.

The airline launched six new international destinations this year. However, flights to Asmara, Goma, and Port Sudan remain suspended due to security concerns.

Ethiopian Airlines added 13 new aircraft, now fully operational in passenger and cargo services. Of the passengers served, 15.2 million were international and 3.9 million domestic.

As part of its African expansion, the airline is partnering with carriers in Congo, Malawi, and Zambia.

Additionally, the groundbreaking for Bishoftu International Airport is scheduled for November, with resident relocation expected to complete by October.

The airport project, projected to cost 10 billion USD including financing, will be built in two phases.

"We hope the African Development Bank will support financial mobilization. An advisor has also been hired to facilitate fundraising," Mesfin added.

Construction design is nearing completion, marking a major step toward realizing the long-anticipated project.

BY YESUF ENDRIS

THE ETHIOPIAN HERALD WEDNESDAY 6 AUGUST 2025

Read the original article on Ethiopian Herald.

Rwanda: Top Kigali Restaurant Staff Seek Legal Redress Over Unpaid Wages

Former employees of Choose Kigali are scheduled to meet with Moise Nkundabarashi, the President of Rwanda Bar Association on Thursday, August 7, to explore possible legal action over unpaid wages.

As of now, no formal legal proceedings have been initiated, despite the restaurant's failure to comply with a signed agreement made between the company and the affected employees.

Aline Umutesi worked at Choose Kigali, a high-end restaurant and art space in Kigali-Kiyovu, for 10 months. She describes her time there as "dedicated but painful," saying she was paid for only five of those months.

She publicly accused the restaurant of owing her Rwf 900,000 in unpaid wages for 5 months, despite an agreement they signed at District Labour Inspectors office on July 15, 2025.

ALSO READ: Madjaliwa sues Rayon Sports over unpaid wages

As per the agreement, the restaurant committed to paying Umutesi her full wages by July 30, including the RSSB contributions that were never made during her employment.

Umutesi is just one of many former workers facing the same issue. Alongside 11 others, she took the matter to the Labour Inspector, but despite the collective effort, the restaurant still failed to honor the agreement.

Among the affected employees is the Head Chef, Daniel Byiringiro, who is owed Rwf 15.6 million for nine months of work. Claude Nduwayezu from the marketing department is owed Rwf 6 million for six months, Joseph Nayituriki who worked as a steward is owed Rwf1.6 million for nine months, Ange Utezeneza is owed Rwf990,000 for five months while Delphine Uwimana is owed Rwf 3.7 million for 10 months.

Not all employees had open-ended contracts. Some were told they would be hired permanently after a three-month probation period. They were given contract drafts, which they signed, but the restaurant management never signed them, rendering the agreements invalid.

Several of the workers said they continued working despite delayed payments, hoping management would keep its word. "We kept working, believing they'd do the right thing," said Umutesi. "We were wrong."

"This isn't just about me. It's about every Rwandan worker who believes in honesty, hard work, and dignity. We were loyal. We showed up. We served proudly. We deserve to be paid," Umutesi wrote on X.

The Ministry of Public Service and Labour replied to the tweet and said that they are "working together with other institutions to resolve this problem as soon as possible."

Umutesi shares the same frustration as Daniel Byiringiro, the Head Chef, who told The New Times that he worked at Choose Kigali from March 2021 until June 2025, ultimately resigning due to the mounting unpaid wages.

"We need justice," Byiringiro said. "We're drowning in debts, most of us borrowed money from friends just to survive.

Claude Nduwayezu, who worked in the marketing department, said he had maintained a professional relationship with Emmanuel Nkuranga, the owner of Choose Kigali, and even extended him the courtesy of staying silent to avoid media exposure. But now, he says, the situation has reached a breaking point.

"I've stayed quiet out of respect," said Nduwayezu. "But at this point, we've all hit rock bottom. We owe rent, and even if you're staying with relatives, they eventually lose patience. You can't afford the most basic things like soap and yet, you're technically employed."

This is not the first time the restaurant has faced similar allegations. In October last year, Choose Kigali came under fire on social media platform X after one of its employees publicly raised concerns over delayed payments.

A source from the District Labour Inspector's office who preferred remain anonyomus told The New Times that the restaurant was fined Rwf300,000 in connection with the incident. However, due to repeated violations, the official said a report would be submitted to the Ministry of Public Service and Labour for further action.

"The maximum fine we can impose at the district level is Rwf500,000," the source explained. "For repeated offenses, the Ministry can fine between Rwf100,000 and Rwf2 million, depending on the gravity of the case."

The New Times made several attempts to contact the restaurant management for comment, but was unsuccessful. The lawyer did not return our calls, and the owner's phone remained unreachable.

A visit to the restaurant revealed that their manager, Abel Dewa, was present but declined to comment, stating that the matter had been referred to their legal team. However, the lawyer has yet to respond to multiple inquiries.

While on site, a team from the District Labour Inspectorate was also present, conducting an assessment. They said there were no new developments beyond what had already been communicated.

What does the law say?

According to Article 66 of the labour law, an employee has the right to be paid for the work they have done, unless stated otherwise in the employment contract or the law.

In disputes between employer and employee, the labour inspector in the area where the business operates must first attempt to mediate. If no resolution is reached, the matter is referred to court, according to Article 102, paragraph 4, regarding the amicable settlement of individual labour disputes.

Read the original article on New Times.

Nigeria: Foreign Vessels' Deployment of Armed Guards in Nigeria's Waters Alarming - Analysts

Maritime analysts have raised the alarm over the activities of armed guards employed by foreign vessels in Nigerian territorial waters.

LEADERSHIP reports that only the Nigerian Navy can legally bear arms in Nigerian waters.

According to maritime lawyer, Dr Emeka Akabogu, in a report titled " Legal Limits of Armed Guards on Board Ships," the possession of a firearm--without a licence from the Nigerian president or the Inspector General of Police, unless the individual is in the armed forces--is prohibited in Nigeria.

In the report, Akabogu disclosed that licensed private guard companies may provide guard services but cannot carry arms during their duties, saying the Nigerian Maritime Administration and Safety Agency (NIMASA), as a regulator, cannot bear arms.

"Although NIMASA's statutory mandate includes maritime security, it cannot carry arms and must rely on the Nigerian Navy under an inter-agency collaboration agreement to provide security for enforcing its mandates," the report says.

However, Maritime security experts have accused foreign vessels of employing armed guards who are also shooting at local fishermen on Nigerian coastal waters.

The security experts who accused the vessels of illegal and unregulated fishing in our coastal waters said they shot at people they presume are pirates or sea robbers.

For instance, foreign trawlers who allegedly engaged in illegal fishing reportedly opened fire on local fishermen along the Akassa coastline in Bayelsa State recently.

Fishermen from the Akassa community were operating along the continental shelf and shallow waters of the Atlantic Ocean when the foreign trawlers attacked them.

Speaking on the incident, a lecturer at the Maritime University, Charles Okerefe, said the act is illegal.

"These are some things we've been clamouring for over time. You know, the streamlined duty in our security system in our waters. And you begin to wonder what the Nigerian Navy is doing, even the Marine Police and all of that are doing. So, this is why those calling for the Coast Guard will continue to raise their voices. People are saying that our security personnel on the waters are very lax," he said.

In other words, he said their focus is different from actually policing the nation's waterways, and it is unfortunate.

According to him, foreign trawlers coming to fish in the nation's waters ought to be arrested, detained, and their vessels seized, and the illegal operators should be subject to appropriate sanctions and punishments.

"But what do we have? Did you hear of anyone being arrested? So, how is it possible that for territorial waters as huge as those of our own in Nigeria, there are no security personnel to quickly respond to such attacks by foreigners? It speaks volumes about how porous our security architecture is on our waterways.

"And I think it will be a wake-up call also for the government to do something about it. Because one, their activities are illegal, number one. And two, to have the effrontery to come and shoot at locals who are doing their normal business is even more illegal, which has to be arrested by the force of our security system on the waterways," he said.

Also speaking, a maritime security expert and former Senior Special Assistant on Maritime Services to ex-President Goodluck, Leke Oyewole, said it was an absurdity of the highest order for a foreign trawler to come within the nation's territorial waters to shoot at the citizens of this country.

Oyewole said that the foreign trawlers' actions were most likely illegal and absurd of the highest order.

"And do you blame them? I blame it on our surveillance system. I blame it on our poor monitoring of the coast. I blame it on people who would not do the needful at the right time. And I also blame it on most of the maritime agencies.

"Because, to start with, there is what is called notice to mariners. If any foreign vessel is coming to Nigeria, it should have announced its intention months ahead, weeks ahead, and daily when it's very close. Did anybody receive such an alert notification from that vessel? And if somebody received it, what was the advice to that vessel?

"If nobody received it, what is the name of that vessel today, and who is trailing it, who is tracking it? It belongs to which country? What have we done to notify the country that has the flag? Or anybody can just come, kill our citizens, or even kidnap and go away, in addition to taking our natural resources free of charge."

Read the original article on Leadership.

Rwanda: Nation Media Group Changes Ownership

The Aga Khan Fund for Economic Development (AKFED) has announced its intention to transfer all its shares, worth 54.08 per cent in Nation Media Group Plc (NMG) to its fully owned Kenyan subsidiary, NPRT Holdings Africa Limited, as part of an internal reorganization.

NMG is a regional media company that is listed on Nairobi Securities Exchange and cross-listed on Rwanda Stock Exchange (RSE).

ALSO READ: [PHOTOS] Aga Khan pays tribute to Genocide victims in Kigali

According to a regulatory notice published under Kenya's Capital Markets (Take-overs and Mergers) Regulations, the transaction involves the transfer of approximately 92.6 million ordinary shares of NMG from AKFED to NPRT.

The shares represent 54.08 per cent of the company's issued share capital.

The notice also indicates that neither AKFED nor NPRT will be required to make a takeover offer for the remainder of the share capital of NMG.

"The reorganization is purely internal and does not involve any third-party buyers or new investors," NPRT said in the notice. "Shareholders' rights and the company's listing on the Nairobi Securities Exchange and regional exchanges will remain unaffected."

The shares will be transferred through a block trade agreement between AKFED and NPRT.

NPRT is incorporated in Kenya and is fully owned by AKFED. The notice highlights that NPRT currently does not conduct any business beyond serving as the new holding entity for the NMG shares.

In a press statement, AKFED said that the transaction would not result in any change in the company's ultimate beneficial ownership or management structure.

"Pursuant to a share transfer agreement dated 30 July 2025 entered into between AKFED and NPRT, AKFED will sell and NPRT will purchase the Shares in consideration for the issuance to AKFED of shares in the issued share capital of NPRT," the notice reads.

According to the notice, NPRT has not previously held any shares in NMG as of the date of the notice, and neither its directors nor AKFED's directors hold NMG shares in their personal capacities.

Read the original article on New Times.

Africa: Equal Footing - Building Pathways for Landlocked Developing Countries to Participate in Global Economy

Awaza, Turkmenistan — Heads of State, ministers, investors and grassroots leaders are gathered in Awaza on Turkmenistan's Caspian coast for a once-in-a-decade UN conference aimed at rewiring the global system in support of 32 landlocked developing countries whose economies are often 'locked out' of opportunity due to their lack of access to the sea.

Geography has long dictated the destiny of landlocked nations. Trade costs are up to 74 percent higher than the global average. It can take twice as long to move goods across borders compared to coastal countries. As a result, landlocked nations are left with just 1.2 percent of world trade and are at great risk of being left furthest behind amid global economic shifts.

Speaking during the opening plenary and in the context of implementing the Sustainable Development Goals (SDGs), President of Turkmenistan Serdar Berdimuhamedow stated that his country believes "in the need to accelerate the process of ensuring transport connectivity, as well as to bring fresh ideas and momentum to this process."

"In connection with this, last year at the World Government Summit in Dubai, Turkmenistan proposed creating a new partnership format, namely a global atlas of sustainable transport connectivity. I invite all foreign participants to carefully consider this initiative."

The Third UN Conference on Landlocked Developing Countries, or LLDC3, is pushing for freer transit, smarter trade corridors, stronger economic resilience, and fresh financing to boost development prospects for the estimated 600 million people living in those countries.

The UN Secretary-General António Guterres stressed that the conference is centered on reaffirming a fundamental truth: that "geography should never define destiny."

"Yet," Guterres continued, "For the 32 landlocked developing countries across Africa, Asia, Europe, and South America, geography too often limits development opportunities and entrenches inequality."

Rabab Fatima, Under-Secretary-General and High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, and Secretary-General of the Third United Nations Conference on Landlocked Developing Countries, said, "For too long, LLDCs have been defined by the barriers of geography, remoteness, inaccessibility, and the fact that they do not have a sea. But that is only part of the story."

She stressed that LLDCs may be landlocked, but they are not opportunity locked, as they are rich in resources, resilience, and ambition. These countries seek to lean into these resources and strong partnerships to counter challenges such as an infrastructure financing shortfall of over USD 500 billion.

For these countries, goods take 42 days to enter and 37 days to exit their borders. Paved road density stands at just 12 percent of the global average. Internet access is only 39 percent. To address these constraints, the Awaza Programme of Action proposes a new facility for financing infrastructure investments. This new initiative aims to mobilize capital in large quantities to bridge the gaps and construct roads.

Meanwhile, as these daunting challenges prevail, Guterres said debt burdens are rising to dangerous and unsustainable levels. And one-third of LLDCs are grappling with vulnerability, insecurity, or conflict. Despite representing 7 percent of the world's population, LLDCs account for just over one percent of the global economy and trade--a stark example of deep inequalities that perpetuate marginalization.

Guterres emphasized that these inequalities are not inevitable. They are the result of an unfair global economic and financial architecture unfit for the realities of today's interconnected world, compounded by systemic neglect, structural barriers, and--in many cases--the legacy of a colonial past."

"Recent shocks--from the COVID-19 pandemic to climate disasters, supply chain disruptions, conflicts and geopolitical tensions--have deepened the divide, pushing many LLDCs further away from achieving the SDGs."

Further stressing that the conference is not about obstacles but solutions that include launching a new decade of ambition--through the Awaza Programme of Action and its deliverables--and fully unlocking the development potential of landlocked developing countries.

Fatima said the Awaza Programme of Action is a bold and ambitious blueprint to transform the development landscape for the 32 landlocked developing countries for the next decade. The theme of the conference, 'Driving Progress Through Partnerships,' captures a collective resolve to unlock that potential. It underscores the new era of collaboration where LLDCs are not seen as isolated or constrained but as fully integrated.

Emphasizing that the Awaza Programme of Action provides "the tools to unlock the full potential of LLDCs and turn their structural challenges into transformative opportunities. The implementation of the Programme of Action has begun. We arrive in Awaza with momentum on our side. We have put together a UN system-wide development and monitoring framework with clear milestones and outcomes, comprising over 320 complete projects, programs, and activities."

"Over the course of the week, we will see here the launch of many new partnerships and initiatives that will bring fresh momentum to its implementation. As we take this process forward, allow me to highlight three strategic priorities that will guide our work in Awaza. First, bridging the infrastructure and connectivity gap remains our top priority," she said.

Heads of state and governments, including the presidents of the Republic of Uzbekistan, the Republic of Armenia, Tajikistan, the Republic of Kazakhstan, and His Majesty King Mswati III from the Kingdom of Eswatini, stressed the significance of the conference for the group of landlocked developing countries in terms of identifying priority areas for further efforts with a focus on addressing modern challenges the international community is facing.

Mswati III said the conference reaffirms a shared commitment to having the structural barriers that hinder LLDCs from participating in the global economy, offering a platform to chart a path of resilience, innovation and inclusive growth. The leaders also shared many of the successes they have achieved amidst daunting challenges.

"To build resilience and ensure sustainable growth, Eswatini is diversifying beyond traditional sectors. We are promoting investment in agroprocessing, tourism, renewable energy, ICT, creativity, industries and private enterprise. This strategy broadens our economic base, creates jobs and supports inclusive development, aligning with our national priorities for 2030 and 2063," he said.

Shavkat Mirziyoyev, President of the Republic of Uzbekistan, said that his country was "demonstrating strong momentum towards greater openness and transparency in logistics. Complex measures are being implemented to facilitate the digitalization of trade and transport processes. Structural transport and logistics spaces are the basis for dynamic transport implementation."

Mirziyoyev stated that today, a single transport and logistics space is being established in the region. Comprehensive programs and projects are being implemented to transform Central Asia into a fully-fledged transit hub between East and West and North and South. Recently, mutual trade volumes have grown 4.5-fold, investments have doubled, and the number of joint ventures has increased 5-fold.

"This year, jointly with our partners, we have started construction of the China-Kyrgyzstan-Uzbekistan railway. Freight traffic on the Uzbekistan-Turkmenistan-Iran-Turkey transport corridor has increased significantly. In today's world, it is crucial to have concrete, feasible, and institutionally supported solutions to overcome common threats and challenges," he stated.

Fatima, the Secretary-General of the Conference, said the challenges are many, varied and complex, requiring investing in robust implementation tools and partnerships at all levels.

"Our mapping confirms that every target adopted here in Awaza advances inclusive, resilient and sustainable development. But policy alignment alone is not enough. We need a whole-of-society approach," she expounded.

"This Conference marks a turning point in that regard. For the first time, LLDC3 features dedicated platforms for civil society, the private sector, youth, women leaders, parliamentarians, and South-South partners - each playing a critical role in making the APOA people-centered and responsive."

Overall, she urged the global community to seize the present moment--with ambition, unity, and purpose--to chart a new path for the LLDCs: one of prosperity, resilience, and full global integration. She stressed that the true legacy of the ongoing conference will not be measured by declarations, but by the real and lasting change that is delivered on the ground.

IPS UN Bureau Report

Follow @IPSNewsUNBureau

Read the original article on IPS.

Africa Attracts Billion Dollars in Gold Mining Investments

Africa, the world's second-largest gold-producing region after China, is witnessing a surge in gold mining investment in 2025, fueled by strong global demand, favourable prices, and vast untapped reserves attracting increased international interest.

So far, billions of dollars in investments have been announced in recent months highlighting a growing momentum, according to experts at Energy, Capital and Power, a Cape Town-based consultancy firm.

Just in June this year, the Industrial Development Corporation of South Africa extended a US$35 million loan to Theta Gold Mines for its US$77 million Transvaal Gold Mining Estate in the Mpumalanga Province of South Africa.

Similarly, the Canadian firm, Asante Gold, secured a US$470 million financing package from Appian Capital and South Africa's FirstRand Bank to expand the Chirano Mine and advance the Bibiani Project in Ghana - Africa's leading gold producer and the sixth largest, globally.

These investments followed the Africa Finance Corporation that provided a €100 million loan to a Portuguese firm Mota-Engil Africa in May this year to support gold mining infrastructure in Ivory Coast and Mali.

At the same time, China's Zijin Mining launched a gold streaming initiative to raise US$200-400 million in FDI for African gold assets - starting with a US$125 million investment in Montage Gold's Koné Project in Ivory Coast.

Perseus Mining of Australia has also made strides in 2025, approving a US$124.6 million FID for the Yaouré Underground Mine in Ivory Coast and committing US$523 million to the Nyanzaga Gold Project in Tanzania.

In addition, UAE-based Ambrosia Investment Holding invested US$375 million in Allied Gold's expansion in Ethiopia and Mali, acquiring a 50% stake in the process.

And, in Uganda, gold continues to gain its prominence in the economy with the latest development being a US$50 million Euro Gold Ltd refinery opening in Kampala. During its launch on July 29, Ruth Nankabirwa, the Minister of Energy and Mineral Development, said the refinery would go a long way in fulfilling the government's stance of in-country value addition to Uganda's precious mineral resources.

Bright future

According to experts at Energy, Capital and Power, these funding rounds reflect rising confidence in the future of African gold and the sector's role in the global supply chain. They also underscore the importance of expanding local refining, beneficiation and export capabilities. As investment flows increase, so too does the urgency to build resilient infrastructure, strengthen regulatory frameworks and ensure that host communities benefit from long-term economic gains.

African Mining Week

Cognizant of the ever-rising investor appetite, this year's African Mining Week which is held alongside the African Energy Week and is taking place in Cape Town from October 1-3, is expected to feature a dedicated Gold Summit.

The Summit will showcase priority gold projects, host high-level discussions and serve as a critical deal-making platform for financiers, mining companies and policymakers, aiming to bridge Africa's gold opportunities with global capital.

During the event, discussions will address gold-sector financing, investment incentives and strategies for enhancing local value addition. To be held under the theme, "From Extraction to Beneficiation: Unlocking Africa's Mineral Wealth," the African Mining Week will bring together African stakeholders and global partners to shape the next chapter in the continent's gold mining journey.

Read the original article on Independent (Kampala).

South Africa: Johannesburg Stock Exchange Weighs 24-Hour Trading Amid Global Shift

The JSE is reviewing the feasibility of longer trading sessions, following similar steps by global peers including the NYSE, Nasdaq, Cboe, and the London Stock Exchange

These moves are driven by rising retail investor participation, mobile trading, and demand for time zone flexibility

Africa's largest stock exchange, the Johannesburg Stock Exchange (JSE), is exploring a move to 24-hour trading as part of broader efforts to align with global financial markets, CEO Leila Fourie said in an interview with Bloomberg.

The JSE is reviewing the feasibility of longer trading sessions, following similar steps by global peers including the NYSE, Nasdaq, Cboe, and the London Stock Exchange. These moves are driven by rising retail investor participation, mobile trading, and demand for time zone flexibility.

"We are investigating this avenue and will work with our market to ensure the right outcome for South Africa," said Fourie, noting that a final decision will be made in the medium- to long-term after consultations.

Proponents argue that extended hours would benefit South Africa's capital markets, especially given the country's high number of dual-listed companies. But local traders remain sceptical, citing thin trading volumes and low liquidity as structural hurdles.

JSE Ltd. shares rose as much as 1.9% before paring gains to trade 0.3% higher at R136.73 by 1:42 p.m. in Johannesburg. The exchange reported a 15% year-on-year increase in first-half EBIT earlier in the day.

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Key Takeaways

The JSE's consideration of round-the-clock trading reflects a global trend but may face headwinds from local market dynamics. In developed markets, extended hours have been driven by large volumes, global institutional flows, and high-frequency trading. In contrast, South Africa's exchange remains relatively illiquid, with average daily turnover far below that of major exchanges. Broker resistance stems from concerns over cost-benefit balance. Extended sessions would require increased staffing, tech upgrades, and risk management resources--expenses that may not be justified by current trading activity. However, there may be room for phased adoption. The JSE could begin with specific instruments or overnight trading windows targeting dual-listed stocks or international investors. A hybrid model could also allow after-hours trading without full 24-hour coverage. While aligning with NYSE or Nasdaq offers potential benefits in visibility and access, success will likely depend on local demand and broader reforms to attract more capital flows. In the near term, a move to 24-hour trading may remain more symbolic than structural, unless matched by meaningful volume growth.

Read the original article on Daba Finance.

South Africa: Mantashe Seeks Wider Market for SA's Natural Diamonds

Mineral and Petroleum Resources Minister Gwede Mantashe has called for the marketing of South African natural diamonds across the world, as the sector faces a decline in demand and price.

The local sector now faces an added challenge of a US tariff of some 30%.

South African natural diamonds have not been excluded from the US tariff list, while minerals including gold, platinum group metals and coal enjoy exemption.

At a stakeholder consultation with the diamond sector on Tuesday, Mantashe said he was "convinced" that the sector needs an injection of aggressive marketing as a solution.

"Our biggest trading partner is China. The US is the second biggest trading partner for South Africa. With the 30% tariff... you are not going to escape it. I'm very convinced that the marketing of natural diamonds is a necessary intervention because you cannot replace natural diamonds with lab grown diamonds.

"We must market natural diamonds, but we must produce more natural diamonds, and the beneficiation thereof is quite critical. We must cut and polish market value added diamonds. Value addition must happen close to the point of production."

The Minister encouraged diamond producers to "express their views" during the session and encouraged a "flow of ideas" on how government can intervene.

"We are having this platform today to hear your views. You agree that you want to be part of that agreement of [the] marketing of natural diamonds. Tell us and we will do it. However, we thought we should not do it without talking to [the sector]. I am convinced that it's the right intervention. We must market...more aggressively.

"Natural diamonds are competing with lab grown [ones]... particularly in the West. [Some] 25% of [the] diamond trade in the US is lab grown. It's very small in China... and India.

"In the West, where there is a big market for natural diamonds, lab grown diamonds are competing with us aggressively. What do we do? That's the question we are putting to you. Help us think through this issue and give us ideas," Mantashe said.

Read the original article on SAnews.gov.za.

South Africa: Mantashe Seeks Wider Market for SA's Natural Diamonds