Major International Business Headlines Brief ::: 23 June 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  23 June  2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Africa: Business Summit Aims to Spotlight Opportunities for U.S.
Companies in Africa

ü  Africa: Report Exposes Hidden Crisis in Southern Africa's Public Health
Sector - Gender Equality on Paper, Patriarchy in Practice

ü  Uganda: Vandals Blamed for Darkness On Kampala Northern Bypass Despite
New Streetlights

ü  Which are Some of the Best Welcome Bonuses Available to iGaming Fans in
Africa?

ü  Uganda, Tanzania and Zanzibar Ink Oil Pact

ü  Nigeria: Air Peace to Commence Direct Flight to Heathrow Airport October
26

ü  South Africa: Social Housing At Salt River Market Moves One Step Forward

ü  Nigeria: Govt's Support for Nigerian Airlines Evident in Heathrow Slot -
Keyamo

ü  Liberia: Extreme Rainfall to Hit Liberia's Central and Southeastern
Regions

ü  Rwanda: 10 Things to Know About Proposed Smart Airport City in Bugesera

ü  East Africa: Ethiopia Showcases Bold Public Service Reform

ü  Uganda: Big Budget, Bigger Promises

ü  Uganda: EACOP 62% Complete - Officials Say

ü  Ethiopia to Exploit AfCFTA for New Trade, Economic Opportunities

ü  US asks China to stop Iran from closing Strait of Hormuz

ü  Russia's economy is down but not out

 


 <mailto:info at bulls.co.zw> 

 


Africa: Business Summit Aims to Spotlight Opportunities for U.S. Companies
in Africa

An estimated 1500 delegates are gathered in Luanda for the 17 U.S.-Africa
Business Summit organized by the Corporate Council on Africa and hosted this
year by the Government of Angola. Expected participants include heads of
state and government from Algeria, Botswana, Burundi, Cape Verde, Central
African Republic, Democratic Republic of the Congo, Eswatini, Ethiopia,
Gabon, Madagascar, Mauritania, Namibia, and Sao Tome and Principe, along
with President Joao Lourenco from the Summit host.

 

Others taking part include business leaders from Africa and the United
States, senior government officials and policy experts for a program focused
on building stronger economic ties between Africa and the United States.

 

The announced list for the official U.S. delegation includes Ambassador Troy
Fitrell, who heads Bureau of African Affairs at the State Department; Massad
Boulos, Senior Advisor for Africa; Conor Coleman from the U.S. International
Development Finance Corporation (DFC); James Burrows, from the Export-Import
Bank of the United States (EXIM Bank); Constance Hamilton, Assistant U.S.
Trade Representative for Africa; and Thomas R. Hardy, acting director of the
U.S. Trade and Development Agency (USTDA).

 

In April, Fitrell unveiled  the Trump administration's new commercial
diplomacy strategy for sub-Saharan Africa "based on what we've seen that
actually works."  The strategy makes commercial diplomacy the "core focus of
U.S.-Africa engagement, with U.S. Ambassadors "now being evaluated on how
effectively they advocate for U.S. business and the number of deals they
facilitate," he said in a speech in Abidjan.

 

Sessions at the Summit in Luanda will focus on a range of opportunities for
expanding U.S.-Africa trade, investment and business relations built around
the theme "Pathways to Prosperity: A Shared Vision for U.S. - Africa
Partnership".

 

"I'm fully invested in this summit because of its proven impact and its
potential to drive development across Africa," said John Olajide, CCA
chairman, a Dallas-based Nigerian entrepreneur who heads Axxess, a
healthcare technology company, and Cavista Holdings Limited, an investment
firm engaged in technology, agriculture, hospitality, fintech, and energy.

 

CCA has played a critical role in promoting U.S.-Africa trade and investment
since it was established in 1993 by American companies with African
interests. Since the first " 'Attracting Capital to Africa.' Summit was held

 

Since 1997, the Summits have been held in Washington, DC and several other
U.S. cities - Dallas in 2024 - and in Addis Ababa, Cape Town, Gaborone,
Maputo and  Marrakesh.

 

ARCHIVE: Coverage from Previous CCA Summits and Conferences

 

 

 

 

 

Africa: Report Exposes Hidden Crisis in Southern Africa's Public Health
Sector - Gender Equality on Paper, Patriarchy in Practice

A new report released by WomenLift Health lays bare a critical but often
overlooked barrier to resilient health systems in Southern Africa: a
persistent leadership gap for women in the public health sector, despite
decades of progressive gender equality policies.

 

Based on a comprehensive stakeholder analysis across ten countries including
Angola, Botswana, Eswatini, Lesotho, Malawi, Mozambique, Namibia, South
Africa, Zambia, and Zimbabwe, the Stakeholder Analysis Report reveals that
gender policies celebrated at the national level frequently fail to
translate into equitable workplace realities. Instead, women face a “glass
ceiling in disguise,” where institutional cultures, biased promotion
systems, and caregiving expectations quietly limit their rise to leadership.

 

“What looks like progress on paper is often a façade. Inside health systems,
women are still hitting invisible walls. If we are serious about building
resilient and effective health systems, we must be serious about
intentionally having women being part of the decision-making,” said Akhona
Tshangela, Southern Africa Director at WomenLift Health.

 

Even in countries with notable national progress, such as Namibia, which
recently elected its first female president, or South Africa, which has near
gender parity in politics, the public health sector tells a different story.
Women remain underrepresented in senior roles, particularly at the district
and provincial levels, with Zambia reporting just 13% female district health
leaders.

 

The report identifies a stark policy–practice gap, where well-intentioned
laws lack the enforcement, resources, or institutional will to change
workplace dynamics. Patriarchal norms continue to shape decision-making,
limit access to mentorship, and keep women from rising through the ranks.
Even proven solutions, such as leadership development programs, male
allyship, and work-life balance initiatives, are inconsistently applied,
often leaving rural and underrepresented women behind.

 

But the findings aren’t just a diagnosis—they’re a call to action. The
report highlights critical interventions aligned with WomenLift Health’s
strategy, including investment in leadership journeys for mid-career women,
capacity-building for workplace advocacy, and systemic engagement with male
allies and senior decision-makers.

 

“This report validates WomenLift Health’s approach: sustainable change means
lifting both the woman and the system she works in,” Tshangela added.

 

If Southern Africa is to build resilient, equitable health systems,
leadership must reflect lived realities, not just policy ideals. This means
elevating those who understand exclusion from the inside and can drive
systemic transformation from within.

 

Download the 3-page summary: SASASummary

 

 

 

 

Uganda: Vandals Blamed for Darkness On Kampala Northern Bypass Despite New
Streetlights

Authorities have blamed persistent vandalism for the continued darkness
along parts of the Kampala Northern Bypass, where streetlights had recently
been installed but abruptly stopped working -- sparking concern and
questions from road users.

 

The Ministry of Works and Transport responded on Sunday to a public query
posted on X (formerly Twitter), after a user wondered why the newly erected
lights between Busega and Kyebando had gone blank so soon after
installation.

 

Allan Ssempebwa, the Ministry's senior communications officer, revealed that
vandals have been targeting the infrastructure, stealing critical components
-- especially solar batteries -- which has compromised the lighting system.

 

"We're currently undertaking the installation of lighting poles along the
Northern Bypass, stretching from Busega to Namboole," Ssempebwa said.

 

"Unfortunately, the progress and functionality has been disrupted by acts of
vandalism, leading to these outages particularly along the Busega-Kyebando
section where poles had already been installed."

 

He added that restoration works are underway to replace stolen
infrastructure, and he urged the public to report any suspicious activity to
the nearest police station.

 

"Let's protect these assets," he appealed. "Report any alerts so that these
vandals are apprehended!"

 

The lighting project is part of long-delayed enhancements to the Northern
Bypass -- a key transport corridor built to ease congestion in Kampala by
rerouting through-traffic.

 

 

Construction of the road began in 2004, with the first phase (Busega to
Kireka) opening in 2009.

 

However, street lighting was not included in that initial project scope.

 

The second phase, which included capacity upgrades and expansion to
Namboole, began in 2014 and faced several delays before completion in 2022.

 

It is only recently that the ministry has embarked on lighting the full
corridor -- a move widely welcomed by road users who for years have raised
safety and security concerns due to the pitch darkness at night.

 

The bypass, which stretches about 21 kilometres, cuts through densely
populated and high-traffic zones such as Bwaise, Kyebando, and Kalerwe.

 

Without lighting, many of these areas have seen a spike in nighttime
robberies and traffic accidents.

 

But even as the government moves to fix what was long seen as an oversight,
theft and vandalism threaten to undo the progress.

 

According to officials, solar batteries and wiring are being ripped out of
the installed units -- turning the lights off almost as soon as they are
switched on.

 

The Ministry is now calling for community involvement to safeguard the
infrastructure, warning that continued sabotage will only delay much-needed
improvements to road safety and urban mobility.

 

"It's important for the public to appreciate the delicate balance we face;
delivering essential services while protecting public infrastructure,"
Ssempebwa told the Nile Post.

 

"It all comes at a significant cost. Most importantly, we must remain
vigilant. Lets all look out for acts of vandalism and promptly report any
suspicious activity to the authorities. Safeguarding public investments is a
shared responsibility."

 

As Kampala struggles to modernize its transport network, the Northern Bypass
-- once envisioned as a signature decongestion project -- now serves as a
stark reminder that infrastructure is only as effective as the society
willing to protect it.

 

Read the original article on Nile Post.

 

 

 

 

Which are Some of the Best Welcome Bonuses Available to iGaming Fans in
Africa?

Africa is one of the hottest places for online betting. Many countries have
changed their gambling regulations in the last couple of years and allow
different kinds of bookies and casinos. Naturally, these operators want to
attract as many customers as possible, which is why they offer attractive
welcome bonuses.

 

There are many different kinds of welcome promotions to choose from, but
some are more appealing than the rest. Companies constantly innovate in this
department, but let’s take a step back and examine some of the best welcome
perks that people can access in Africa.

 

Cash bonus and Free Spins

 

Most of the big iGaming platforms in Africa will have a casino and a
sportsbook, meaning a given person can decide what works best. Not all of
these companies have attractive proposals, but some of the best  welcome
bonus sites  in South Africa and other parts of the continent will have an
interesting welcome promotion that gives both bonus cash and free spins.
Some of these deals are cross-platform, allowing African people to use the
welcome proposition to bet on sports and play casino games.

 

Alongside the cash reward, some of these welcome offers also grant free
spins. This is something that you can only use on slots, and it allows you
to play for free.

 

Keep in mind that a lot of operators in Africa will have two separate
welcome propositions for each of these perks. For example, some sites will
focus on the deposit bonus because they know that their client wants to
access more funds. Others, however, choose to “bet” on free spins because
they know that slots are the go-to option for most bettors.

 

No deposit bonuses

 

If you look at some of the big iGaming operators in Europe and other
countries, you will see that many of them offer no-deposit bonuses. Those
perks are incredibly attractive (especially when they are also welcome
offers), which is one of the reasons why some companies in Africa started
offering them.

 

There are different types of no deposit bonuses out there, but not all of
them are attractive. Some are so small that they make no difference, which
is why many people prefer to use something else. Others, however, let sports
bettors wager on something without using their deposit and can even allow
casino fans to experience some of the games for free.

 

Cashback

 

Despite not being as common as the other options mentioned so far, iGaming
fans in Africa can often find cashback welcome deals. These promotions are
usually focused on high rollers because these people spend more money than
the rest. Consequently, the cashback deal allows them to get a lot more
money in cases where they lose.

 

There are many different types of cashback deals that you can get as a
welcome bonus. Most of them will give you between 10% and 15% as cashback,
but some operators that want to attract more people in Africa can offer an
even bigger welcome bonus. Just keep in mind that responsible gambling  is
very important, so you should never rely on the cashback bonus to cover your
losses. Make sure you don’t play with more money than you can afford losing.

 

The T&C You Should Consider

 

No matter if you are from South Africa, Ghana, Nigeria, or another country
where you can access different iGaming sites, it is very important to check
all of the T&Cs related to the specific welcome bonus. You will find many
different rules, but some are more important than the rest.

 

The first thing everyone needs to check is the deposit requirement. Casinos
and Bookies in Africa will often provide lucrative welcome propositions, but
those wishing to get them will have to make a substantial deposit. There
might be instances where the transaction is worth it, but that may not be
the case.

 

The second most important aspect of a welcome bonus in Africa is the
wagering requirements. Although bookies will do everything possible to lure
people into their platform, most will also have very high wagering
conditions. This means that players wishing to withdraw their bonuses must
spend much more time using the money.

 

Lastly, we have the duration of a given bonus. Ideally, each welcome offer
should be available for at least a couple of weeks or days. If t

 

 

 

 

Uganda, Tanzania and Zanzibar Ink Oil Pact

The cooperation agreement comes as Uganda faces questions over the readiness
of its domestic oil infrastructure, particularly the proposed refinery in
Hoima District

 

Uganda signed a tripartite agreement with Tanzania and Zanzibar to deepen
regulatory cooperation in the oil and gas sector, as the East African nation
pushes toward its target of first oil production in 2026 despite lingering
uncertainty over the timeline for its long-delayed refinery project.

 

The deal, signed in Entebbe on June.17, brings together Uganda's Petroleum
Authority (PAU), Tanzania's Petroleum Upstream Regulatory Authority (PURA),
and the Zanzibar Petroleum Regulatory Authority (ZPRA).

 

It aims to harmonise regional standards and facilitate joint efforts in
petroleum resource management, cost control, environmental compliance, local
content development, and capacity building.

 

"The East African region is one of the most prolific frontier areas for oil
and gas exploration and development," PAU Board Chairperson Lynda Biribonwa
said at the signing ceremony.

 

"Collaboration among regulators is essential to leverage existing expertise
and maximise investment."

 

The Memorandum of Understanding formalises years of informal engagement,
particularly between Uganda and Tanzania, whose governments are jointly
backing the $5 billion East African Crude Oil Pipeline (EACOP), designed to
transport Ugandan oil to international markets via the Tanzanian port of
Tanga.

 

"This MoU will allow us to share best practices and build long-term
capability to attract and sustain investment," said Halfani R. Halfani,
Board Chair of PURA. ZPRA Managing Director Muhammed S. Said added that
pooling regulatory knowledge would benefit the region's broader industry
ambitions.

 

 

Delayed refinery

 

The cooperation agreement comes as Uganda faces questions over the readiness
of its domestic oil infrastructure, particularly the proposed refinery in
Hoima District. In March, Uganda signed a deal with UAE-based Alpha MBM
Investments LLC to develop the $4 billion facility, which is expected to
process 60,000 barrels of crude oil per day.

 

Under the terms of the agreement, Alpha MBM will hold a 60% stake in the
refinery project, while Uganda's state-owned National Oil Company (UNOC)
will retain 40%. However, the government has yet to conclude additional
contractual arrangements with the investor, and it remains unclear when
construction will commence.

 

Without a functioning refinery, Uganda could be forced to export all its
crude through EACOP once the pipeline becomes operational. While authorities
have maintained a 2026 target for first oil, analysts have warned that any
further delays in infrastructure rollout could weigh on investor confidence
and delay revenue inflows.

 

PURA Director General Charles J. Sangweni, speaking at the signing, said
negotiations for the tripartite agreement had been underway for about a
year. He noted that expanding cooperation to other East African nations,
including Kenya, is also under consideration.

 

Delegations from Tanzania and Zanzibar are scheduled to tour Uganda's oil
fields in the Albertine Graben this week to assess progress toward
production readiness.

 

"This MoU strengthens our ties and lays the groundwork for increased
technical collaboration," Sangweni said.

 

1.4billion barrels

 

Uganda estimates its recoverable oil reserves at 1.4 billion barrels. The
refinery, when complete, is expected to help the country reduce its
dependence on imported petroleum products and generate value-added revenue.

 

Officials at the ceremony underscored the importance of regional
cooperation, citing the Swahili maxim "Umoja ni nguvu" -- unity is strength
-- as a guiding principle.

 

"Together, let us chart a transformative path for the petroleum industry in
East Africa," Biribonwa said.

 

Read the original article on Independent (Kampala).

 

 

 

 

Nigeria: Air Peace to Commence Direct Flight to Heathrow Airport October 26

Nigeria flag carrier, Air Peace is set to commence direct flight operations
to London Heathrow Airport from Abuja on October 26, 2025.

 

Special adviser to the minister on media, Tunde Moshood said in a statement
that "the breakthrough comes in the wake of a strongly worded letter dated
August 1, 2024, written by the minister of aviation and aerospace
development, Festus Keyamo to the UK Secretary of State for Transport,
Louise Haigh. In the correspondence, the minister demanded the immediate
allocation of landing slots at Heathrow for Air Peace or risk reciprocal
action, including a potential review of British Airways and Virgin
Atlantic's access to Lagos and Abuja airports.

 

"The Minister reiterated that Nigeria was only asserting its rights under
the Bilateral Air Services Agreement (BASA) between both nations, which
guarantees reciprocal access and fair treatment for designated flag
carriers. After months of negotiations and firm diplomatic engagement, the
UK authorities acceded to Nigeria's demand, granting Air Peace the
long-awaited Heathrow slot."

 

Reacting to the news, Keyamo said "this landmark achievement follows
sustained diplomatic efforts by the federal government of Nigeria to enforce
reciprocity in international air travel agreements.

 

"This is not just a win for Air Peace, but a significant diplomatic
milestone for Nigeria. It sends a clear message that we are serious about
enforcing the terms of our bilateral agreements and protecting the
commercial interests of our indigenous carriers."

 

He further emphasized that the move aligns with President Bola Tinubu's
Renewed Hope Agenda, which places high priority on creating an enabling
environment for Nigerian businesses to thrive globally.

 

"My dear compatriots, after many months of diplomatic exchanges and
shuttles, insisting on our reciprocal rights under our Bilateral Air
Services Agreement, we are pleased to announce that Nigeria has finally
secured the coveted Heathrow slot for one of our flag carriers, Air Peace,"
the minister wrote in a public statement.

 

Air Peace had earlier launched its inaugural direct flight from Lagos to
London Gatwick Airport in March 2024, marking its entry into the highly
competitive UK aviation market. With the move to Heathrow--one of the
world's busiest and most prestigious airports--the airline is expected to
significantly expand its international footprint and provide Nigerian
travellers with greater convenience and connectivity.

 

This development marks a new chapter in Nigeria-UK aviation relations and
sets a precedent for stronger enforcement of bilateral agreements to benefit
national carriers.

 

Read the original article on Leadership.

 

 

 

South Africa: Social Housing At Salt River Market Moves One Step Forward

Heritage approval granted, but funding is uncertain and informal settlement
families still need to be relocated

 

Social housing at the Salt River Market has been on the cards for more than
a decade.

There have been land transfer delays, and more hurdles still to cross before
construction can begin.

But the approval of a required Heritage Impact Assessment has moved the
development a step forward.

The heritage authorities recommend the four remaining traders at the market
be given retail space in the development.

The development of social housing at Cape Town's historic Salt River Market
is a step closer to fruition after a required Heritage Impact Assessment was
approved earlier this month.

 

The provision of social housing at the site has been planned for more than a
decade but has been beset by land transfer delays. A burgeoning informal
settlement on part of the land next to the market has created further
hurdles.

 

Social housing institution Communicare has been in discussion with the City
of Cape Town, which owned the land, over developing the centrally located
1.7-hectare site since 2014. The land sale agreement was signed by
Communicare in 2022, for the building of 300 social housing units and 700
open-market units.

 

According to the Heritage Impact Assessment, approved by Heritage Western
Cape on 11 June, there will be two apartment buildings. The ground floors
will be used for retail space. The Salt River Town Hall next to the market
will be retained, along with the public plaza used to access the market.

 

 

The need for affordable housing in the inner city is pressing. There are
more than 400,000 families on Cape Town's housing waiting list.

 

City mayco member for human settlements Carl Pophaim previously said
construction at Salt River Market would begin in July 2024, but Communicare
CEO Anthea Houston says the site is yet to be handed over to them. This is
despite the land sale agreement having been signed in 2022.

 

Families living in an informal settlement next to the market still need to
be relocated by the City.

 

"We are hopeful that this will take place by the end of 2025," said Houston.

 

Pophaim told GroundUp the City is in talks with the informal settlement
residents and is preparing sites to which they can be relocated. He did not
provide a date for when the process will be completed.

 

Funding bottleneck

 

Meanwhile, funding for the development has not yet been secured. Social
housing developments rely on once-off subsidies from the Social Housing
Regulatory Authority (SHRA), usually to cover about half the development
costs.

 

The remainder of the costs need to be privately financed by the developer or
from other government grants. Rental payments by tenants are used to recoup
development costs and pay for maintenance and other operating costs.

 

Social housing is regulated by the SHRA and can only be offered to
households earning less than R22,000. Rental amounts are set according to
household income, capped at R7,326 a month.

 

Houston said SHRA's subsidies for the Salt River project have not yet been
approved. "The social housing regulator had a long delay in project
approvals during the preceding years after their budget had been severely
cut. The process of project approvals is back on track, and we anticipate a
decision in the coming three months," she said.

 

Asked for comment, SHRA spokesperson Lesego Diale said the regulator does
not "pre-allocate funding" to projects. She said that information on the
SHRA's pipeline for future projects is confidential.

 

Uncertain future for traders

 

The Heritage Impact Assessment for the development recommends that
long-standing vendors at the market be accommodated in the retail section of
the development. This was requested by the Salt River Heritage Society,
which made submissions on the heritage impact assessment.

 

Pophaim previously told GroundUp that only fresh produce vendors will be
accommodated in the future development, in line with the market's heritage
as a farmers' market.

 

Four traders are still operating. Three sell fresh fruit and vegetables and
one sells fish. The other traders, who sold bric-a-brac, building materials,
and other goods not in keeping with a farmers' market, left after being
issued eviction notices in 2023.

 

Fishmonger Warren du Preez, who employs 11 people, stressed that the retail
section of the development must be inclusive. "They mustn't try to compete
with the Biscuit Mill ... You need to have spaces that are affordable," he
said.

 

Rumina Adams, who sells fresh vegetables, said she was a third-generation
trader. "My grandparents started (it) and my parents have built the business
up. We have been here since the market opened."

 

She said she would like to have a space in the proposed development to run
her business, but she has not received any guarantees from the City.

 

Rumina's sister, Zubaida, has a stall next door. She said she needs
certainty from the City about their plans. "This is a farmers' market, we
want to just revive it and make it positive so that people know the market
is in existence. Instead of going to all these malls ... they must come to
an original market."

 

Heritage approval

 

The Heritage Impact Assessment contains several conditions related to
landscaping, engineering, and monitoring for potential archaeological finds
during the development. These aspects will need to be addressed before final
approval is given.

 

Salt River Hall and market manager's office will be retained due to their
heritage value. In a separate process, Heritage Western Cape has also
recommended the Hall be declared a provincial heritage site.

 

Heritage Western Cape also recommended that the developer investigate how to
meet some of the requests made by the Salt River Heritage Society. These
include incorporating three-bedroomed units in the social housing component,
providing space next to the community hall for community organisations, and
the inclusion of an Early Childhood Development centre.

 

Read the original article on GroundUp.

 

 

 

Nigeria: Govt's Support for Nigerian Airlines Evident in Heathrow Slot -
Keyamo

Minister of Aviation and Aerospace Development, Mr Festus Keyamo, weekend,
said the federal government's success in securing daily flight slot for Air
Peace at London's Heathrow Airport showed commitment to supporting Nigerian
airlines.

 

Last week, the Chief Executive Officer of Air Peace, Allen Onyema, had
announced that the United Kingdom government, through the Airports
Coordination Limited, ACL, had allocated daily flight slot to Air Peace at
Heathrow Airport.

 

Onyema, who commended Keyamo and President Bola Tinubu for the support given
to domestic airlines, also said the airline would commence direct flight
from Abuja to Heathrow on October 26.

 

According to him, while the Abuja-Heathrow flight will operate three times a
week, Abuja to Gatwick will run four times a week.

 

Speaking on the development via his X handle, Keyamo said: "My dear
compatriots, after many months of diplomatic exchanges and shuttles,
insisting on our reciprocal rights under our Bilateral Air Services
Agreement, BASA, we are pleased to announce that Nigeria has finally secured
the coveted Heathrow slot for one of our flag carriers.

 

"We are committed to offering similar support to all our local operators,
which is one of the focal points of the Renewed Hope Agenda of Bola Tinubu.
We are also committed to ensuring that whilst we support their businesses to
grow, we hold them to the highest standards in terms of delivering quality
services to the flying public."

 

Last year, Keyamo had threatened to restrict British Airways' flights in
Nigeria over the refusal of the aviation authorities in the UK to allow Air
Peace operate to Heathrow.

 

He argued that since British Airways and Virgin Atlantic were given
Nigeria's primary airports: the Murtala Muhammad International Airport,
MMIA, in Lagos and the Nnamdi Azikiwe International Airport, Abuja; it was
also appropriate that the UK government allowed Air Peace to fly to
Heathrow, in line with BASA.

 

Keyamo, in a letter dated August 1, 2024, had warned that if Air Peace was
not allocated a slot at Heathrow, Nigeria would deny British Airways and
Virgin Atlantic slots at the Lagos and Abuja airports.

 

UK Secretary of State for Transport, Louise Haigh, however, said at the time
that Air Peace could not secure slots at Heathrow Airport because the
domestic airline submitted its request after the slot coordination process
had concluded for each season.

 

Read the original article on Vanguard.

 

 

 

 

 

Liberia: Extreme Rainfall to Hit Liberia's Central and Southeastern Regions

The Ministry of Transport, through its Methodology and Seasonal Forecast
Division, has predicted extreme rainfall in central and southeastern Liberia
through the end of September 2025.

 

Monrovia, June 23, 2025: The weather forecast has projected an extreme
rainfall to will have major effects on agriculture, public health,
transportation, energy, and infrastructure sectors across the country.

 

According to the Ministry, the anticipated heavy rains are expected to
trigger floods, increased disease outbreaks, prevalence of crop and
livestock diseases, and a shortened farming season, all of which could
severely impact agricultural productivity, public health, and infrastructure
development.

 

Making the disclosure during a press briefing over the weekend, Transport
Ministry Weather Forecaster Steven Jones presented a PowerPoint slide
highlighting pictorial graphs of the 2025 seasonal weather forecast.

 

Jones emphasized that this new rainfall pattern is projected to have major
effects on agriculture, public health, transportation, energy, and
infrastructure sectors across the country.

 

He further explained that while the northern, southwestern, and western
regions of Liberia are expected to experience a normal start of the rainy
season, an early start of the cropping season is anticipated in central to
southeastern counties.

 

"However, during the months of June, July, and August, northern Gbarpolu and
Lofa counties are expected to receive below average rainfall," he added.

 

 

For his part, the Ministry's Agrometeorological Engineer, James Leviticus
Kollie, speaking on the agricultural implications, noted that the 2025
seasonal forecast predicts a short farming season, long dry spells, and an
increased prevalence of crop and livestock diseases, all of which could
threaten food security and farmer livelihoods.

 

"These challenges pose serious risks. Farmers and stakeholders are advised
to take proactive measures to maximize production," Kollie said.

 

He explained that the western to northwestern regions are expected to
experience a short dry spell at the start of the season, while the central
to southern regions could face long dry spells.

 

He also revealed that most parts of the country are projected to experience
a longer dry spell toward the end of 2025, which may result in an early end
to the cropping season.

 

Kollie clarified that a dry spell refers to the number of consecutive days
the country will go without a rainfall, and it is refers to as long dry
spell when it last for a longer time, and short dry spell when it last for
few months.

 

However, he says specific areas, including Bomi, southern Gbarpolu, central
and southern Bong, central Nimba, northern Montserrado, Margibi, and Grand
Bassa counties are anticipated to have a late end to the farming season.

 

As precautionary measures, he urged farmers to Adjust their planting
schedules to match the short cropping season; Choose early maturing crop
varieties; Cultivate drought and flood resilient crops; Relocate animals to
higher ground in case of flooding; Strengthen pest and disease surveillance
systems.

 

Aditionally he advice that farmer Monitor crops and animals closely for
disease outbreaks; and Coordinate with the Liberia Meteorological Service
(LMS) for updated guidance.

 

Meanwhile, the Ministry of Transport's Methodology and Seasonal Forecast
Division remains tasked with the responsibility to coordinate and supervise
all meteorological and climatological activities in Liberia.

 

These include the preparation and issuance of weather forecasts, warnings of
severe weather conditions, and the dissemination of relevant data for public
safety and national development.

 

The division also provides meteorological services to support national socio
economic development and works in collaboration with international partners
including the World Meteorological Organization (WMO), the African Center of
Meteorological Applications for Development (ACMAD), and the International
Civil Aviation Organization (ICAO).

 

They are also responsible for studying atmospheric phenomena and advising
the Government of Liberia on all aspects of meteorology and climate.

 

Read the original article on New Dawn.

 

 

 

Rwanda: 10 Things to Know About Proposed Smart Airport City in Bugesera

As part of the broader development of Rwanda's new international airport, a
Smart Airport City is set to take shape in Bugesera District, according to
the newly released detailed land use master plan.

 

The envisioned city will deliver integrated services to support airport
operations and stimulate the local and national economy through commercial,
industrial, and hospitality developments.

 

ALSO READ: PHOTOS: Construction of Rwanda's new airport in Bugesera

 

This special city, to be built near the airport, is intended to support
airport services and promote commercial and industrial zones related to air
travel, hospitality, business, and other joint development activities.

 

The airport will be situated within the Rilima and Juru sectors of Bugesera
District.

 

ALSO READ: Bugesera airport to be completed in 2026; here are 5 things you
should know

 

"The plan of the airport city is currently conceptual and more detailed
designs will follow later," explained Alexis Rutagengwa, the head of land
use management and mapping at National Land Authority (NLA).

 

The New Times looks at 10 things to know about the proposed Smart Airport
City

 

Aviation hub, Aeronautical service centre

 

Key components of this Smart Airport City will include an Aeronautical
Service Centre offering aircraft handling services, air travel-related
equipment, professional aviation training, and modern facilities for
passenger and cargo transport.

 

 

An Aeronautical Service Centre is a facility that provides specialised
services related to aircraft operations, maintenance, and support within the
aviation industry.

 

ALSO READ: Land use master plans for six districts to be complete by end of
2025

 

These centres play a crucial role in ensuring the safety, efficiency, and
reliability of both commercial and private aviation.

 

Key functions of an Aeronautical Service Centre include aircraft
maintenance, repair, and overhaul; ground support services such as
refuelling, towing, and parking; aircraft cleaning and catering
coordination; loading/unloading cargo and baggage; de-icing services in cold
regions, among others.

 

They also include management of navigational aids (NAVAIDs), radar and air
traffic control systems maintenance, calibration of communication equipment,
aircraft design modifications, airworthiness certification and compliance
with aviation regulations, custom technical solutions for airlines, pilot
and technician training, simulation facilities, safety and emergency
response training.

 

Passenger accommodation

 

According to Rutagengwa, the smart city will also host complementary
infrastructure such as passenger accommodation, commercial spaces, transport
services, logistics hubs, and ancillary service centres, all designed to
enhance airport operations and contribute to regional economic growth.

 

Green-blue structure design

 

He said the masterplan aims to develop a resilient city that integrates blue
and green infrastructure to provide a range of benefits to its residents,
including reduced urban heat island effect, enhanced walkability and
bikeability, improved outdoor comfort, improved storm-water management,
reduced pollution, increased natural habitats and biodiversity, and the
provision of ecosystem services.

 

Bus Rapid Transit (BRT) System

 

The Bus Rapid Transit (BRT) System, which aims to provide the speed and
reliability of a metro while retaining the flexibility of buses, operates on
dedicated lanes with priority at intersections.

 

ALSO READ: Govt to introduce advanced transit system for city buses

 

There will be development of transportation links such as roads and public
transit systems to integrate the airport with Kigali and neighbouring
regions.

 

Cable car system

 

Cable Car System, which serves as a solution to connect hilly terrains or
cross water bodies, providing efficient and low-emission travel, is part of
a smart city.

 

Dedicated cycling paths

 

Dedicated Cycling Paths to connect all the clusters and provide a secure
route for sustainable and affordable mobility.

 

A 15-minute city

 

A 15-minute neighbourhoods, and improvement of Transit-Oriented Development
(TOD) also contribute significantly to smart city development.

 

The 15-minute neighbourhoods and Transit-Oriented Development (TOD) are
urban planning concepts focused on making cities more liveable, walkable,
and sustainable--especially relevant in smart city projects like the
proposed Smart Airport City in Bugesera.

 

A 15-minute neighbourhood (also called a 15-minute city) is a community
where everything a resident needs for daily life--like work, shops, schools,
healthcare, parks, and entertainment--is within a 15-minute walk or bike
ride from home.

 

"Smart" electricity and water metering

 

The smart city provides "smart" electricity and water metering on all
projects.

 

ALSO READ: Bugesera Airport to be connected to new Rusumo power plant

 

It employs smart irrigation controllers throughout, which irrigate only when
air or soil moisture dictates a need and when evaporation rates are at their
lowest, such as early morning and late evening.

 

Implementation of intelligent systems to optimise electricity use, including
energy-efficient lighting and equipment, and power supplied from the Rusumo
Hydroelectric Power Station, will contribute to the airport's green
credentials.

 

Eco-village mixed-use urban development

 

Eco-village mixed-use urban development is part of a smart city.

 

ALSO READ: Why urban farming matters

 

"This measure will respect the existing rural settlements and upgrade their
environmental and social resilience by connecting them into the larger
network of new developments and clusters," he explained.

 

An Eco-village mixed-use urban development is a sustainable community design
that combines the principles of eco-villages with mixed-use urban planning.

 

It blends residential, commercial, and sometimes agricultural uses in one
area, aiming to minimise environmental impact and promote social and
economic sustainability.

 

Urban agriculture, agri-tech and agro-processing

 

He explained that new processes and methods in 'traditional' agriculture can
be introduced to improve yields and sustainability in addition to urban and
peri-urban agriculture

 

"In addition, the creation of agro-processing within this food value chain
provides increased economic and knowledge-based returns."

 

Read the original article on New Times.

 

 

 

 

East Africa: Ethiopia Showcases Bold Public Service Reform

- Scales up digital platform nationwide

 

- Ethiopia is positioning itself at the forefront of public sector
transformation in Africa with the nationwide rollout of its flagship digital
service platform, MESOB (Modern Ethiopian Service for Organized Benefits).

 

The platform is a centrepiece of the country's broader public service reform
agenda.

 

Speaking during the 10th African Public Service Day (APSD) being held in
Addis Ababa, Deputy Prime Minister Temesgen Tiruneh announced the expansion
of MESOB to all states, underscoring its role in creating responsive,
unified, and citizen-focused institutions.

 

"Public institutions are the first line of trust between people and
government," said Temesgen. "To meet the challenges of rapid technological
change, inequality, and global uncertainty, we must strengthen and modernize
them."

 

The MESOB platform is combining digital portals, mobile apps, physical
service centers, and community-level engagement is designed to streamline
service delivery, reduce bureaucracy, and enhance accessibility.

 

"MESOB is more than a digital tool. It is a promise of dignity, efficiency,
and equity," he said. "By scaling it nationwide, we aim to bridge historic
divides and standardize service quality across Ethiopia."

 

The digital one-stop-shop model is part of a larger seven-pillar reform that
includes human resource development, digital transformation, inclusive
governance, and results-oriented performance.

 

The Deputy Prime Minister emphasized that modern systems require modern
leadership. "We are investing heavily in capacity building, ethics-based
leadership, and skills training for public servants," he said.

 

Also speaking at the event, , the African Union Commission Governance and
Conflict Prevention Director Patience Zanelie Chiradza praised Ethiopia's
leadership in rethinking public service delivery.

 

"The 2025 APSD theme, 'Enhancing the Agility and Resilience of Public
Institutions,' is about equipping systems to meet both legacy challenges and
new demands," she said. "This includes overcoming the impacts of colonial
legacies, gender inequality, and systemic marginalization."

 

The Director highlighted the AU's 2025 focus on reparative justice and
inclusive governance as a rallying call for nations to deepen reform,
innovate, and empower citizens to shape public policy.

 

The ongoing APSD forum features policy panels, technology showcases, and
awards recognizing excellence in public service innovation across Africa.

 

Read the original article on Ethiopian Herald.

 

 

 

Uganda: Big Budget, Bigger Promises

Analysis — As Uganda prepares to enter a heated election season in 2026, the
government unveiled an ambitious Shs 72.1 trillion budget for the 2025/2026
financial year. Presented at Kololo Independence Grounds by Finance Minister
Matia Kasaija on June 12, the new budget comes with both promises and tough
realities for businesses, ordinary Ugandans, and investors eyeing the
country's evolving economic landscape.

 

The budget, themed "Full Monetisation of Uganda's Economy through Commercial
Agriculture, Industrialisation, Expanding and Broadening Services, Digital
Transformation and Market Access", marks not only the final leg of the
ruling National Resistance Movement (NRM)'s current manifesto but also the
official start of the Fourth National Development Plan (NDP IV), the first
in Uganda's bold Tenfold Growth Strategy aimed at propelling Uganda's
economy to USD 500 billion by 2040.

 

"This budget, therefore, is for all Ugandans who are ready to create wealth.
Fellow countrymen and women, take full advantage of the innumerable
opportunities contained in this budget," Kasaija said.

 

The resource envelop

 

The total resource envelope for the 2025/26 financial year stands at Shs
72.3 trillion, a slight increase from Shs 72.13 trillion in the current
financial year ending June 30. This substantial allocation underscores the
government's continued commitment to fostering sustainable economic growth
and development.

 

The resource envelope comprises five key components that demonstrate
balanced approach to fiscal management. First, domestic revenue is projected
at Shs 37.55 trillion, consisting of Shs 33.94 trillion in tax revenue, Shs
3.28 trillion in non-tax revenue, and Shs 328.6 billion from Local
Government collections.

 

 

Second, government plans to do domestic borrowing of Shs 11.38 trillion to
support critical national programs. Third, Shs 10.03 trillion has been
allocated for refinancing maturing domestic debt, ensuring financial
stability. Fourth, grants and external borrowing for general budget
financing amount to Shs 2.08 trillion. Finally, external financing for
specific projects totals Shs 11.33 trillion, including Shs 2.8 trillion in
grants.

 

Kasaija said, the government has carefully structured the expenditure
allocations to maximize development impact while maintaining fiscal
discipline. A significant portion, Shs 8.57 trillion, is dedicated to wages
and salaries, recognizing the importance of our public service workforce.
Non-wage recurrent expenditure receives Shs 28.33 trillion, covering
operational funds for institutions, wealth creation initiatives, science and
technology investments, education and health grants, medicine procurement,
infrastructure maintenance, and interest payments.

 

Development expenditure, crucial for Uganda's long-term growth, has been
allocated Shs 18.24 trillion. Debt management remains a priority, with Shs
10.03 trillion for domestic debt refinancing, Shs 4.98 trillion for debt
amortization, and Shs 493 billion for domestic debt repayment to the Bank of
Uganda.

 

The government is also addressing outstanding obligations with Shs 1.4
trillion set aside for domestic arrears, while Shs 328.6 billion is
allocated for Local Government expenditure from their own revenue sources.

 

"This comprehensive budget framework demonstrates our commitment to prudent
fiscal management while investing in Uganda's future," Kasaija said, "The
allocations balance immediate needs with long-term development goals,
ensuring sustainable economic progress for all Ugandans," he added.

 

Financing strategy

 

The government claims it has developed a robust financing strategy for the
2025/26 fiscal year, designed to ensure sustainable economic growth while
maintaining fiscal discipline. This comprehensive approach combines domestic
revenue enhancement with strategic external financing to support Uganda's
development agenda.

 

At the core of government's strategy is strengthening domestic revenue
mobilization. "We will improve tax administration to generate an additional
Shs 1.89 trillion, while new tax measures are expected to contribute Shs
538.6 billion to the national coffers," he said, "These efforts will be
complemented by rationalizing tax exemptions, focusing on eliminating those
that do not align with our industrial policy objectives."

 

To maximize the impact of available resources, government plans to repurpose
funds from less productive areas to high-impact sectors in line with the
Tenfold Growth Strategy.

 

Recognizing the importance of development financing, Kasaija said government
will intensify efforts to secure concessional funding from international
financial institutions, including the World Bank, IMF, African Development
Bank, Islamic Development Bank, and BADEA.

 

Innovation will drive the financing approach, as the government explores
alternative sources such as Public-Private Partnerships, climate finance
mechanisms, private equity investments, and specialized instruments
including Sukuk bonds, Panda bonds, and diaspora bonds.

 

A growing, yet heavily indebted economy

 

Uganda's economy is experiencing a remarkable surge. According to Kasaija,
GDP for 2024/25 is projected at Shs 226.3 trillion (USD 61.3 billion),
rising from Shs 203.7 trillion (USD 53.9 billion) last year -- and expected
to grow further to Shs 254.2 trillion (USD 66.1 billion) in 2025/26. Per
capita income is expected to rise from USD 1,263 to USD 1,324.

 

This robust growth, averaging 6.3% in 2024/25 and projected at 7% for
2025/26, is attributed to improved export performance, foreign direct
investment (FDI) inflows, political stability, a stable currency, and
significant government spending on infrastructure, health, and education.

 

However, behind the optimism lies a growing fiscal burden. Uganda continues
to borrow heavily. The projected revenue collection of Shs 37.2 trillion
will cover only 60% of the budget, with the balance financed through
external borrowing, grants, and domestic debt. The fiscal deficit remains
significant at 7.6% of GDP, highlighting continued debt pressures.

 

While Kasaija defended borrowing as strategic -- channeled into wealth
creation, commercial agriculture, and industrialisation -- concerns over
rising public debt persist in business and civil society circles. Domestic
borrowing has crowded the private sector, though government argues that
initiatives like the Parish Development Model (PDM), Uganda Development Bank
(UDB), and Agricultural Credit Facility (ACF) are injecting affordable
patient capital into the real economy.

 

A tightening tax net

 

The Uganda Revenue Authority (URA) faces an uphill task as it aims to
collect Shs 37.2 trillion in the next financial year.

 

The government plans to widen the tax base through better enforcement,
rationalising tax exemptions, embracing digital solutions such as EFRIS
(Electronic Fiscal Receipting and Invoicing Solution), digital tax stamps,
rental tax systems, and aggressive anti-smuggling measures using drones and
scanners at border points.

 

Kasaija warned both corrupt tax officials and taxpayers who collude to evade
taxes that their time is up. The government's digitalisation drive aims to
eliminate loopholes that have long undermined tax collection.

 

The heart of the budget lies in expanding monetisation, with government
doubling down on wealth creation programs aimed at lifting more Ugandans
into the money economy.

 

Collectively, government will spend Shs 2.43 trillion in 2025/26 directly on
wealth creation programs, reinforcing its policy shift towards "leaving no
one behind".

 

Meanwhile, agro-industrialisation receives Shs 1.86 trillion, focusing on
agricultural research, value addition, irrigation, post-harvest handling,
and certification for market access. The government's investments in
agro-processing facilities for rice, maize, coffee, and oil seeds are
expected to boost exports while enhancing food security and job creation.

 

Notably, government has backed coffee production aggressively, with export
earnings from coffee projected to hit USD 2 billion annually -- a feat that
took just one year to double after surpassing the first USD 1 billion mark.

 

Oil, gas and minerals

 

The oil and gas sector is accelerating towards first oil in 2026, with the
Tilenga and Kingfisher projects nearing completion. The East African Crude
Oil Pipeline (EACOP) is 58% complete, while Alpha MBM from UAE is set to
construct a 60,000 barrels-per-day refinery.

 

This sector could soon generate between USD 1 and 2.5 billion annually,
according to Kasaija. Already, over 17,000 direct jobs and nearly 40,000
indirect jobs have been created. The government has allocated Shs 875.8
billion to mineral-based industrial development, including the
capitalisation of the Uganda National Mining Company.

 

In parallel, the domestic fuel importation strategy through Uganda National
Oil Company (UNOC) has saved Uganda USD 72.8 million annually by eliminating
middlemen.

 

Additionally, infrastructure investment remains central to government's
monetisation agenda. Roads, irrigation schemes, agro-processing zones, and
transport hubs like the nearly complete Kabalega International Airport
continue to attract attention.

 

In Jinja, Kiira Motors has completed its vehicle assembly plant, with
capacity for 2,500 vehicles annually, including electric buses. Government
has also pumped Shs 724 billion into Dei BioPharma, Uganda's largest
pharmaceutical manufacturing facility, now licensed by the National Drug
Authority.

 

Science innovation funding will support vaccine development, including work
on anti-tick and Crimean Congo hemorrhagic fever vaccines, as well as
advanced agricultural testing kits developed by Gulu and Makerere
Universities.

 

Health, education and social protection

 

Government has allocated Shs 5.87 trillion for healthcare, immunisation,
specialised cancer and cardiovascular facilities, oxygen plants, and
digitisation of medical records.

 

It has allocated Shs5.04 trillion, funding to UPE, USE, seed schools, TVET
reforms, teacher training under UNITE, and continued infrastructure for
upcoming AFCON and CHAN tournaments.

 

Social protection has been allocated Shs 404.9 billion to support elderly
pensions, youth livelihoods, women entrepreneurship, and persons with
disabilities. In total, Shs 11.44 trillion will be invested in
people-focused interventions next year.

 

The other critical sector is tourism which is on a rebound with earnings
growing by 26% to USD 1.28 billion and visitor arrivals up to 1.37 million.
Government has allocated Shs 430 billion for direct tourism development and
Shs 2.2 trillion for supportive infrastructure including roads, stadia and
ICT upgrades.

 

Foreign direct investment inflows have also jumped to USD 3.48 billion,
reflecting rising investor confidence -- partly due to Uganda's increasingly
complex export basket, which now includes 31 new high-tech products like
vaccines, electronic components, and manufactured goods.

 

Stability in an election year

 

As the political atmosphere warms ahead of the 2026 elections, government
officials hope the budget will not only stimulate growth but also cement
public confidence in the NRM's leadership. Kasaija emphasised that Uganda's
economic stability -- with inflation at 3.4% and the shilling named Africa's
most stable currency -- offers a strong foundation for continued
transformation.

 

Yet, opposition figures and independent analysts remain cautious, citing
rising public debt, tax burdens on small businesses, and inefficiencies in
program implementation.

 

The verdict

 

For businesses, the 2025/26 budget is both an opportunity and a challenge.
Those aligned with government's monetisation strategy -- agriculture,
manufacturing, value addition, oil, ICT, and tourism -- will find multiple
windows for funding, market access and expansion.

 

For ordinary Ugandans, the budget offers expanded welfare nets, access to
cheap credit, healthcare, education, and community-level economic
participation through PDM, Emyooga, and social protection schemes.

 

Ultimately, the success of this ambitious budget will depend on efficient
implementation, prudent borrowing, political stability, and the ability of
Uganda's private sector to innovate and scale within the government's
monetisation and industrialisation vision.

 

As the 2026 elections loom, Ugandans will be watching keenly -- not just for
political promises, but for real economic deliverables.

 

What experts said

 

The Ministry of Finance Permanent Secretary and Secretary to Treasury,
Ramathan Ggoobi, has said that the journey to build a USD 500 billion
economy by 2040 will come with several things that must be done in the right
way.

 

The strategy is anchored on agro-industrialization, tourism, mineral
development, and science and technology innovation (ATMS) to accelerate
growth

 

"It's a beautiful dream that we have molded by changing certain things," he
said. "We shall be able to actually get there. That acronym ATMS was
deliberately crafted to work on our mentality that we are going as a country
to invest in certain things for us to draw bigger things in the future,"
Ggoobi said during Absa 2025 Post Budget Dialogue held in Kampala on June
13.

 

He added: "When we agree that these are priorities and put ourselves in
other things, away from those agreed, that's the indiscipline we want to
work on. How do we team up and get the consensus that this is what we want
to do?"

 

"Secondly, he said, in Uganda, "we must build that discipline of consensus,
that discipline of getting teams to work; people knowing that you are
nothing without others. Some people think that they are more important than
others. At the national level, we have a big problem of consensus; we say
that we are doing this, but the following day, you see people doing other
things."

 

Michael Segwaya, the executive director/chief finance officer at absa Bank,
said the sh72.37trillion budget for financial year 2025/26 has provided
sh1.4 trillion to clear domestic arrears, away from the last financial
year's sh200 billion, and this will provide liquidity for businesses.

 

"This is a good gesture," he said, "But looking at the balance sheet, we
should be doing more for years to come to try and support the business
community because it eases the cost of doing business, and this also helps
the government."

 

The absa Bank Managing Director, David Wandera, said budgets must ultimately
translate into impact, in jobs created, arrears cleared, and opportunities
unlocked for households and entrepreneurs alike.

 

He highlighted the role of financial institutions in translating fiscal
policy into real economic outcomes by funding agriculture, trade, and SMEs,
and enabling business resilience beyond capital.

 

As Uganda prepares for the FY2025/26 budget, strategic foreign direct
investment (FDI) remains critical to achieving our ambitious 10-fold
economic growth target. Jane Nalunga, Executive Director of SEATINI-Uganda
said that Uganda must move beyond merely rolling out red carpets for
investors, to forging mutually beneficial partnerships that prioritize value
addition.

 

"We currently treat investors as if they're doing us a favor, when in fact,
investment should be a win-win proposition," Nalunga said.

 

With Uganda positioned as a gateway to the vast East African Community (EAC)
market and the African Continental Free Trade Area (AfCFTA), the new budget
presents an opportunity to revise the investment code - ensuring it attracts
investors committed to industrial transformation rather than small-scale
trading.

 

This shift, coupled with Uganda's improving infrastructure and stable
macroeconomic environment, can position the country as a premier destination
for quality FDI that drives technology transfer, job creation, and
export-oriented manufacturing - the very engines needed to power our decade
of accelerated growth according to Nalunga.

 

Julius Mukunda, Executive Director of the Civil Society Budget Advocacy
Group (CSBAG), said Uganda's FY2025/26 budget must prioritize transparency,
accountability, and disciplined fiscal management to deliver meaningful
development.

 

"While the budget outlines ambitious allocations, we must ensure every
shilling is accounted for--domestic arrears must be cleared, borrowing
rationalized, and projects completed on time," Mukunda said.

 

He warns that persistent domestic arrears and rising public debt risk are
crowding out critical social spending.

 

"The government cannot keep borrowing to pay old debts while new projects
stall. We need enforceable timelines, open procurement processes, and
consequences for delayed projects--otherwise, budget credibility suffers."

 

Mukunda urges Parliament to strengthen oversight, ensuring that the Shs
18.24 trillion development budget translates into tangible infrastructure,
jobs, and service delivery. "A good budget isn't just about big numbers;
it's about timely execution and measurable impact for citizens."

 

Read the original article on Independent (Kampala).

 

 

 

 

Uganda: EACOP 62% Complete - Officials Say

The construction of the East African Crude Oil Pipeline is now at 62 percent
with the whole project expected to be complete by June next year 2026,
officials have said.

 

During a joint inspection and monitoring exercise by Uganda and Tanzania's
Energy and Water Utilities Regulatory Authority-EWURA on the progress of the
project in the Albertine graben, Dr Joseph Kobusheshe the Director for
Environment, Health and Safety at the Petroleum Authority of Uganda said the
project is steadily on course to deliver first oil by 2026.

 

"As off now, we are talking construction progress between 60 to 65 percent.
We have a number of key facilities here in Uganda like at the Pump station
one with the construction works all going well" he stated

 

Kobusheshe noted a significant progress at Tilenga and Kingfisher
development areas which are crucial in the production of the highly expected
first oil.

 

"They have progressed significantly because by the end of the year, we are
confident that we should have the minimum number of wells that are required
for the first oil. The other factor is developing the flow lines and feeder
lines from the Kingfisher and Tilenga fields and these are progressing;
there is also need for central processing facilities-CPFs to make the crude
oil ready for processing and work in Tilenga and Kingfisher CPFs is
progressing."

 

Patrick Aikoa the site lead at AGI Construction said work at pump station
one which is crucial for the 1443 kilometre long pipeline is currently at 58
percent.

 

 

"The project is moving well, and we are confident by next year june the
project will be commissioned" he stated

 

Project information indicates that over 1000 kilometer of line pipes have
already arrived in Uganda from both China and Greece.

 

Of these, 800 kilometer line pipes have already been insulated and coated
and are ready for dispatch to different construction spread areas in Uganda
and Tanzania.

 

Gerald Maganga the Director Petroleum at the Energy and Water Utility
Regulatory Authority of Tanzania said that work on the EACOP project for the
Tanzania part is progressing with higher concentration.

 

"In Tanzania, the progress is higher because the Tanzania section is longer
and much of the concentration is there. We are happy with what we are
seeing. Our mission is to see and appreciate the progress of the project and
see if we are on track so that the project can be delivered in the time we
expect" he noted

 

Yusuf Masaba the Corporate Affairs Officer at Petroleum Authority of Uganda
said the progress in drilling of expected oil wells at both Kingfisher and
Tilenga projects has progressed steadily.

 

He said at the Kingfisher project; 18 wells have been drilled out of the 31
expected.

 

"The 18 wells have been drilled to make the minimum number required for the
first oil to be produced. The Kingfisher feeder pipeline has already been
completed and is ready for use to deliver oil to the pumping station one.
The works on the Kingfisher Central processing facility are at 65 percent,"
said Masaba.

 

Derrick Mbabazi the National Content Manager for CCJV responsible for the
construction of the Central Processing Facility CPF at Kingfisher Oilfield
in Kyangwali Sub-County Kikuube District says a number of Ugandans have been
employed to work in the area.

 

"We have employed over 1000 people specifically for the EPC 3 project. But
there are also some contract workers under, so generally we can say since
2022 up to date we can say about 2000 employees who are local Ugandans have
benefited from this project" Mbabazi stated

 

The delegation also visited Kabalega International Airport in Kabaale
Sub-County Hoima District and Kingfisher Oilfield in Buhuka Kyangwali
Kikuube district.

 

Read the original article on Nile Post.

 

 

 

 

Ethiopia to Exploit AfCFTA for New Trade, Economic Opportunities

Addis Ababa, — The Ethiopian government has expressed its keen interest to
exploit the African Continental Free Trade Area (AfCFTA) Agreement to boost
new economic opportunities, with a view of transforming the country's trade
and economic landscape.

 

The statement was made by Ethiopian Minister of Trade and Regional
Integration Kassahun Gofe, while addressing a validation meeting on
Ethiopia's National AfCFTA Implementation Strategy, which was jointly
organized with the United Nations Economic Commission for Africa (UNECA) on
Friday.

 

The minister said the continental free trade pact has strong potential as it
offers Ethiopia and the wider African countries with new economic
opportunities by diversifying partnerships, which will ultimately help
address the East African country's current "significant trade deficit."

 

As Ethiopia finalizes its national AfCFTA implementation strategy, Gofe said
the strategy is "deeply integrated" with the country's wider development
targets, focusing on structural reforms.

 

"The strategy encompasses bold macroeconomic and structural reforms aimed at
enhancing resilience, encouraging private sector-led development, and
modernizing our economy in accordance with global best practices," he said.

 

The Ethiopian government is taking efforts to open up the country's economic
landscape so as to leverage intra-African trade opportunities through the
effective implementation of the AfCFTA, according to the ministry.

 

The AfCFTA, a flagship initiative of the African Union's Agenda 2063, aims
to create the world's largest free trade area in terms of the number of
participating countries.

 

Since its entry into force in 2019, a total of 47 African countries,
including Ethiopia, have ratified the AfCFTA.

 

With a market comprising 1.4 billion people and a combined gross domestic
product of 3.4 trillion U.S. dollars, the AfCFTA seeks to boost
intra-African trade by eliminating trade barriers, particularly for
value-added goods.

 

The agreement has the potential to generate jobs, create regional value
chains, attract investment, and stimulate economic development across
Africa, according to the UNECA.

 

Read the original article on ENA.

 

 

 

 

US asks China to stop Iran from closing Strait of Hormuz

US Secretary of State Marco Rubio has called on China to prevent Iran from
closing the Strait of Hormuz, one of the world's most important shipping
routes.

 

His comments came after Iran's state-run Press TV reported that parliament
had approved a plan to close the Strait but added that the final decision
lies with the Supreme National Security Council.

 

Any disruption to the supply of oil would have profound consequences for the
economy. China in particular is the world's largest buyer of Iranian oil and
has a close relationship with Tehran.

 

Oil prices rose following the US attack on Iranian nuclear sites, with the
price of the benchmark Brent crude reaching its highest level in five
months.

 

"I encourage the Chinese government in Beijing to call them [Iran] about
that, because they heavily depend on the Straits of Hormuz for their oil,"
Rubio had said in an interview with Fox News on Sunday.

 

"If they [close the Straits]... it will be economic suicide for them. And we
retain options to deal with that, but other countries should be looking at
that as well. It would hurt other countries' economies a lot worse than
ours."

 

Around 20% of the world's oil passes through the Strait of Hormuz, with
major oil and gas producers in the Middle East using the waterway to
transport energy from the region.

 

Any attempt to disrupt operations in the Strait could send global oil prices
skyrocketing.

 

Oil prices jumped briefly when trading began on Monday, with Brent climbing
to $81.40 a barrel. However, it then slid back to around $78, up 1.4% on the
day.

 

"The US is now positioned with an overwhelming defence posture in the region
to be prepared for any Iran counter-attacks. But the risk for oil prices is
the situation could escalate severely further," said Saul Kavonic, head of
energy research at MST Financial.

 

Follow live: Middle East tensions latest

Strait of Hormuz: What happens if Iran shuts global oil corridor?

InDepth: An unprecedented moment - but what the US and Iran do next could be
even more momentous

Decoy flights and seven B-2 stealth bombers - how US says it hit Iran's
nuclear sites

Chris Mason: UK's position on Iran is clear but will the US listen?

Watch: How successful have the US strikes on Iran been?

The cost of crude oil affects everything from how much it costs to fill up
your car to the price of food at the supermarket.

 

China in particular buys more oil from Iran than any other nation - with its
imports from Iran surpassing 1.8 million barrels per day last month,
according to data by ship tracking firm Vortexa.

 

Other major Asian economies, including India, Japan and South Korea, also
rely heavily on crude oil that passes through the Strait.

 

Energy analyst Vandana Hari has said Iran has "little to gain and too much
to lose" from closing the Strait.

 

"Iran risks turning its oil and gas producing neighbours in the Gulf into
enemies and invoking the ire of its key market China by disrupting traffic
in the Strait," Ms Hari told BBC News.

 

A map showing the location of the Strait of Hormuz as well as shipping lanes
and maritime borders.

The US joined the conflict between Iran and Israel over the weekend, with
President Donald Trump saying Washington had "obliterated" Tehran's key
nuclear sites.

 

However, it is not clear how much damage the strikes inflicted, with the
UN's nuclear watchdog saying it was unable to assess the damage at the
heavily fortified Fordo underground nuclear site. Iran has said there was
only minor damage to Fordo.

 

Trump also warned Iran that it would face "far worse" future attacks if the
country did not abandon its nuclear programme.

 

On Monday, Beijing said the US strikes had damaged Washington's credibility
and called for an immediate ceasefire.

 

China's UN Ambassador Fu Cong said all parties should restrain "the impulse
of force... and adding fuel to the fire", according to a state-run CCTV
report.

 

In an editorial, Beijing's state newspaper Global Times also said US
involvement in Iran "had further complicated and destabilised the Middle
East situation" and that it was pushing the conflict to an "uncontrollable
state".-BBC

 

 

 

Russia's economy is down but not out

Since its illegal invasion of Ukraine in 2022, Russia has become the most
sanctioned nation on Earth, and yet its economy has been remarkably
resilient.

 

In 2024, if Russian official figures are to believed, its economy outgrew
those of all the G7 nations - Canada, France, Germany, Italy, Japan, the UK,
and the US.

 

The Russian economy expanded by 4.3% last year, compared with 1.1% in the
UK, and 2.8% in the US.

 

This growth in Russia was led by the Kremlin's record military spending.

 

The country's oil exports, by volume, have also remained relatively stable,
as supplies once destined for Europe have been diverted to China and India.

 

And a "shadow fleet" of tankers, whose ownership and movements could be
obscured, has helped Moscow circumvent sanctions elsewhere.

 

Meanwhile, the Russian rouble has recovered to become the best-performing
world currency this year, with gains of more than 40%, according to Bank of
America.

 

Yet, as we move towards 2026, the mood music is changing.

 

 

'Trump hasn't got any plan': Russians speak to BBC after three years of war

Russia fears another loss in Middle East from Iran's conflict with Israel

Inside the country inflation has been persistently high, interest rates have
soared to 20%, and companies can't find the workers they need. And globally,
oil prices had fallen back this year before the current conflict between
Israel and Iran caused a spike.

 

Russia's economy minister warned on Thursday that the country was "on the
verge" of recession after a period of "overheating".

 

And some Russia watchers have even suggested the economy could be headed for
collapse.

 

But how likely is that really? And how does it affect the course of the war?

 

Yevgeny Nadorshin, an economist based in Moscow, tells BBC News: "Overall,
it will be a pretty uncomfortable situation until late 2026, and definitely
there will be defaults and bankruptcies."

 

But he predicts the downturn will be "mild" and calls any suggestion of a
meltdown a "total lie".

 

"Without any single doubt, the Russian economy has experienced a number of
recessions deeper than this."

 

Mr Nadorshin points out that Russia's unemployment rate is currently at a
record low of 2.3%, and will probably peak at just 3.5% next year. By
contrast, the UK's unemployment rate was 4.6% in April.

 

 

Getty Images Russian President Putin visiting the country's main tank
factory in the UralsGetty Images

Russia's military spending, such as on new tanks, is reliant upon its
overseas oil sales

Still, he and others see reasons for concern, and that's because Russia
appears to have entered a period of stagnation.

 

Its inflation rate was 9.9% in the year to April, partly due to Western
sanctions pushing up the price of imports, but also because of worker
shortages which have driven up wages.

 

The country lacked around 2.6 million workers at the end of 2024, according
to Russia's Higher School of Economics, largely due to men going to war or
fleeing abroad to avoid it.

 

The central bank put interest rates up to record levels this year to try and
tame the rising prices - but it's making it more costly for companies to
raise the capital they need to invest.

 

Meanwhile, Russia's oil and gas revenues have fallen due to sanctions and
weaker pricing, and were down by 35% year-on-year in May, according to
official figures.

 

It has contributed to a widening budget shortfall that has left the country
with less to spend on infrastructure and public services.

 

"They have this large pot of expenditure for the military that can't be
touched," says András Tóth-Czifra, a political analyst and Russia watcher.
"So it means money is starting to be reallocated from vital investment
projects in road, rail and utilities.

 

"The quality of provision is really suffering."

 

Russia may have coped better than expected with Western sanctions, but they
continue to drag on the economy, he adds.

 

 

Russian companies are struggling to import the technology they need, and it
has badly damaged the car industry. The EU has also banned imports of
Russian coal and diversified away from its gas with a view to phasing out
imports by 2027.

 

"None of this is likely to seriously impede Russia's ability to wage war in
the short-term," says Mr Tóth-Czifra. "But it could affect the economy's
ability to grow or diversify in years to come."

 

So far the Kremlin has brushed off the concerns. In early June, spokesman
Dmitry Peskov told reporters that the "macroeconomic stability" and
"underlying strength" of the Russian economy were plain to see.

 

In April, meanwhile, he said the economy was "developing quite successfully"
thanks to government policies.

 

Getty Images Rouble notesGetty Images

Russia's currency, the rouble, has been surprisingly resilient

 

It is hard to say what will happen next.

 

If Ukraine and Russia reach a peace deal this year, which is not unfeasible,
it would relieve some of the pressure on Moscow. US President Donald Trump
has stated his desire to normalise relations and even forge new economic
partnerships.

 

But Europe may well "stay the course" and maintain its own sanctions in the
event of peace, says Dr Katja Yafimava from the Oxford Institute for Energy
Studies.

 

"Even if it doesn't, it's next to impossible to see a sort of big return to
Europe buying Russian oil and gas as was the case before 2022, although a
modest return of gas imports is possible," she adds.

 

"Still, this would paint a difficult economic picture for Moscow. While
Russia has mostly re-orientated its oil exports away from Europe, it is more
difficult to do so for gas."

 

Whatever happens, it looks like the war will have long-term costs for Russia
- and the Kremlin is running out of ways to offset them.

-BBC

 

 

 

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2025

 


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
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any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


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