Major International Business Headlines Brief ::: 25 June 2025

Wed Jun 25 12:14:52 CAT 2025

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Major International Business Headlines Brief :::  25 June  2025 

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ü  Malawi: 'We Just Want to Work' - the Struggle of Informal Traders in Malawi

ü  West Africa: ECOWAS Gets A New Leader at Pivotal Time for West Africa

ü  Nigeria: Senate, Again, Extends Implementation of Nigeria's 2024 Budget

ü  Lesotho: Starlink Launches Amid Job Losses in Lesotho

ü  Ghana's International Reserves Will Be Eroded By Sharp Decline in Gold Prices - Fitch Solutions

ü  Ethiopia Takes Part in BRICS Urbanization Ministerial Forum

ü  Egypt: Suez Canal Economic Zone Chairman Receives 'Jilin' Provincial Chamber of Commerce Delegation

ü  Nigeria: Senate Extends Implementation of 2024 Budget Capital Projects By 6 Months

ü  Egypt Features in Oxford Economics Global Cities Index

ü  Egypt: Petroleum Minister Oversees Progress of Energos Power Fsru for Egypt's Gas Grid

 <mailto:info at bulls.co.zw> 

Malawi: 'We Just Want to Work' - the Struggle of Informal Traders in Malawi

In the bustling streets of Blantyre, Malawi's commercial hub, informal traders form the backbone of the local economy. Selling everything from fruits to second-hand clothes, these traders, many of them women, are not just vendors. They are breadwinners, caregivers and entrepreneurs. Yet despite their vital role, they face daily harassment, abuse and economic hardship at the hands of those meant to protect them.

Informal trading is deeply rooted in the Malawian economy, with over 80% of the population relying on the sector. Colonial-era vagrancy laws continue to influence the policing of informal traders and the legal framework that often criminalises poverty.

Local by-laws prohibit street vending and restrict informal trading to designated marketplaces, which are usually overcrowded, lack proper infrastructure and are unaffordable for the average informal trader. Those who cannot afford to be at designated marketplaces risk being arrested, paying fines and having their goods confiscated, with no hope of getting their items back.

Many traders buy the goods they sell on credit. When these are confiscated by the police or the city council rangers, it is not just a business loss. It's a family crisis. Children are pulled out of school, meals are skipped, and debts pile up. The economic impact is devastating. The fines these street vendors pay often exceed what they earn weekly.

Female informal traders frequently face sexual assault, violence, and rape at the hands of law enforcement. Many are too afraid to report these abuses to the very institutions responsible for them, leaving them with no legal recourse.

Additionally, some female traders are approached for sexual favours to avoid arrest, to gain release from detention, or to prevent their goods from being confiscated.

Many informal traders face barriers to accessing justice. Many are unaware of their rights and the laws that protect them, and even those who are informed struggle to access justice due to the abuse and arbitrary arrests they face from law enforcement.

Even when they attempt to report abuse or other crimes, they are often dismissed or further victimised. The psychological effects on many of these traders often include fear, hopelessness and the loss of dignity.

Despite the challenges, informal traders are not without hope. They call for designated vending streets, affordable market spaces and collective organisation. They want to be educated on their rights, but more importantly, to have those rights respected.

The path forward must be holistic, combining legal education, economic support, infrastructure development, and systemic reform. Only then can Malawi's informal traders move from surviving to thriving.

*Thabo Buthelezi is a Social Justice Researcher at the Southern Africa Litigation Centre (SALC)

Read the original article on Nyasa Times.

West Africa: ECOWAS Gets A New Leader at Pivotal Time for West Africa

Sierra Leone's president is assuming the rotating leadership of the Economic Community of West African States. Under previous chairman Bola Tinubu ECOWAS faced some of the greatest challenges in its 50-year history.

Nigerian President Bola Tinubu led the Economic Community of West African States (ECOWAS) for just under two years as its rotating chairman. But, in that short period, the main political and economic body in the region witnessed some of the biggest challenges in its history.

With terror attacks and other security concerns ongoing, the ability of ECOWAS to respond to threats has been further reduced following the exit of Burkina Faso, Mali and Niger from the bloc under the leadership of their respective military rulers. Tinubu acknowledged as much in his speech at the ECOWAS summit over the weekend in Nigeria's capital, Abuja.

The president expressed concern about the stalled process of rolling out an expanded ECOWAS Standby Force, which is made up of military, civilian and police components. The force was conceived in 2024 following the departures of the three Sahel nations, which established their own Alliance of Sahel States (AES) in 2023.

"The ECOWAS Standby Force must move from concept to operational reality," Tinubu said, highlighting the need for a ready force to combat terrorism as well as other forms of organized crime in West Africa. "I am a little bit worried about the slow pace of its activation, which is taking longer than desired."

The ECOWAS coffers received a fresh cash injection from the European Union last week of €110 million ($126 million) — though this is still a far cry from the estimated cost of €2.26 billion needed for the activation of the Standby Force.

'A completely fractured region'

Though he expressed optimism that Burkina Faso, Mali and Niger would eventually "return to the family," Tinubu said he had exhausted "all diplomatic means to engage and dialogue with our brothers." The countries have categorically ruled out rejoining ECOWAS.

"You now have a completely fractured region." Beverly Ochieng, a senior associate who specializes in the Sahel at the Center for Strategic and International Studies (CSIS), told DW, citing successive coups in West Africa.

"So you have three countries that have basically walked out of the bloc," Ochieng said. "You have one that's still under suspension until it holds its elections, and that is Guinea. And, broadly speaking, you have an ECOWAS that sometimes feels as if it is struggling to be able to just maintain a sense of unity in order for them to be able to face some of those challenges as a united front."

Opposing alliances working together

The AES has openly defied the authority that ECOWAS has established in the region over the past 50 years, and has been used as an example to underscore accusations that Tinubu showed too much resolve against the junta-led Sahel states during his ECOWAS presidency.

"The rhetoric initially in response to the military coups may have been misplaced in the sense of ensuring open dialogue and cooperation," Ochieng said of Tinubu's hardball approach.

Perhaps now as a gentle signal of rapprochement — or a final sign of defeat — ECOWAS also announced during its summit in Abuja that it had reached an agreement with the military juntas of Burkina Faso, Mali and Niger to work together in their fight against terrorism throughout the region.

Ochieng said the effort was mainly based on "a realization by ECOWAS that they will ultimately have to find a way to work with the Sahel because the issues that affect the Sahel will ultimately have an impact on ECOWAS."

The agreement stipulates that the principle of freedom of movement of goods and people between member states of both alliances will be maintained.

A new chairman

The new ECOWAS chairman, Sierra Leone President Julius Maada Bio, clearly has his work cut out for him — and he knows it, as the bloc faces unprecedented threats to its integrity.

"The democratic space is under strain in parts of our region," Bio said in his opening remarks as ECOWAS president. "In some countries, the constitutional order has been disrupted."

DW's Ben Shemang, who reported from the ECOWAS summit in Abuja, said Bio had pledged to prioritize democracy, security cooperation, economic integration and the institutional credibility of ECOWAS during his tenure.

"Many are expecting a tenure that will not only strengthen security within the regional bloc but also to ensure unity," Shemang said.

Crime and unrest

The issues are piling up on Bio's desk.

Organized crime is on the rise in West Africa against the backdrop of political and economic instability, and it often straddles multiple national borders, with insurgents mixing with criminals.

Abductions for ransom, a spike in recreational drug abuse and a rise in illegal mining practices highlight the growing despair of people throughout a region with an overall population of 425 million people.

"ECOWAS and some of its departments will talk about levels of crime, they'll talk about the issues affecting criminality," Ochieng said. "But when it comes to implementing measures to be able to counter to some of those vices, it's quite slow and bureaucratic."

Threats of further fragmentation

The founding of the AES has also emboldened leaders as well as opposition groups in the region and beyond to seek new directions, with many interpreting the actions of Mali, Burkina Faso and Niger as an overdue response to the lingering effects of colonialism.

A recent survey in Togo carried out by the independent, pan-African research network Afrobarometer found that 64% of Togolese respondents found the establishment of the AES "somewhat" or "very" justified and that that 54% of Togolese thought their country would benefit from leaving ECOWAS to join the AES.

Guinea, which has also been under military rule for close to four years but has not joined the AES, remains suspended from ECOWAS, which could lead the nation to further distance itself from the bloc.

Uphill battles for both ECOWAS and the AES

Such trends can be interpreted as evidence of the waning influence of former colonial powers, but they also reflect the fact that bodies such as ECOWAS appear to have little impact on people's daily lives, as instability and unrest continue to affect millions.

"Understandably, there is a feeling that [ECOWAS] is not fit for purpose in terms of being able to address current political pressures, and in doing so, being able to address the issues that then lead to economic and civil unrest," Ochieng said. She added that ideas like "joining the AES feel like a more reactionary solution. And even the AES itself is a very reactionary institution."

"Perhaps the AES could be moving in a direction that people feel is admirable, that is very purposeful, that is very driven, but it's also on a very fragile foundation," Ochieng said. "These are military leaderships. They have widespread unrest and instability that they are facing as they are trying to establish this institution."

As growing numbers of people in the region nevertheless appear to be showing their support for strongmen tactics over democratic and consensus-led policies, Bio is aware of this big task that lies ahead as he begins his tenure.

During his opening speech, the new leader of the bloc acknowledged that "ECOWAS must reform itself, and become more transparent, efficient and responsive to its people's needs."

Edited by: Sarah Hucal

Nigeria: Senate, Again, Extends Implementation of Nigeria's 2024 Budget

The Senate explained that the extension was required to allow the federal government to complete ongoing projects captured in the budget.

The Senate has again extended the implementation timeline of the capital component of the 2024 federal budget till 31 December 2025.

The upper chamber made the resolution during the plenary on Tuesday following an appropriation bill requesting its amendment and extension.

The Deputy Senate President, Barau Jibrin, announced the extension of the appropriation bill after it was read for the first, second and third times on the same day and supported by most of the senators.

The bill was also considered at the Senate Committee on Supply.

The Chairman of the Senate Committee on Appropriation, Olamilekan Adeola (APC, Ogun West), led the debate on the extension of the budget.

Mr Adeola explained that the extension was required to allow the federal government to complete ongoing projects captured in the budgets.

He also said the Nigerian government does not have enough resources to capture the expenditures proposed in the budget.

Mr Adeola, therefore, urged his colleagues to support the extension of the budget in order to avoid abandoned projects of the federal government in different parts of the country.

Second extension

This is the second time the Senate is extending the capital implementation phase of the 2024 budget.

The initial extension followed a request from President Bola Tinubu, who in December 2024, wrote to the National Assembly seeking approval to shift the capital expenditure implementation deadline from 31 December 2024 to 30 June 2025.

The president's justification at the time was to enable the executive arm to complete ongoing capital projects and optimise budgetary allocations.

That extension was granted after extensive debate and consideration by both chambers of the National Assembly.

However, as the 30 June 2025 deadline approached, it became evident that several critical projects funded under the 2024 budget had not been completed, prompting the fresh extension.

Two budgets in force

With the new deadline of 31 December 2025, Nigeria is now operating two budgets within a single fiscal year - the 2024 budget, which is still being implemented and the 2025 budget, which has already passed and is currently in force.

When the 2024 budget was first extended, some critics argued that it would reflect weak execution capacity within government Ministries, Departments, and Agencies (MDAs). However, supporters of the move said it would ensure value for money and completion of critical infrastructure projects that otherwise would have been abandoned.

Details later...

Read the original article on Premium Times.

Lesotho: Starlink Launches Amid Job Losses in Lesotho

Elon Musk's satellite internet service comes after months of US funding cuts and tariffs put immense pressure on the country's economy

Starlink, Elon Musk's satellite internet service, has launched in Lesotho through T-Connect Lesotho.

The launch comes after massive job losses stemming from 50% US tariffs on Lesotho imports and funding cuts that were led by Musk in the Trump administration.

Prime Minister Samuel Matekane's government has granted Starlink a ten-year licence despite local opposition, in what critics see as appeasement of US interests.

T-Connect says it will create 10,000 direct jobs.

T-Connect Lesotho, a licensed reseller of Starlink, Elon Musk's satellite internet service, officially launched on Monday, after mounting economic pressure on Lesotho from the US.

The country experienced widespread job losses after major US funding cuts to USAID and PEPFAR, led by Musk's "cost-cutting" Department of Government Efficiency (DOGE) in President Donald Trump's administration.

Further compounding Lesotho's economic woes, Trump imposed a 50% tariff on imports, among the steepest in the world. This led to partial closures of factories and mass lay-offs, particularly in the textile industry and in frontline healthcare and school nutrition programmes.

Despite mounting local opposition, Prime Minister Samuel Matekane's government has granted Starlink Lesotho - a subsidiary of Musk's SpaceX - a ten-year operating license to run a satellite internet network in the country. The step is seen by some as appeasement of the US.

Musk recently stepped down from his leadership role in DOGE to focus on his business interests.

On Sunday evening, Starlink took to X, a Musk-owned social media platform, to announce: "Starlink's high-speed internet is now available in Lesotho." Musk re-posted the message to his millions of followers.

During Monday evening's launch, attended virtually by Starlink Vice President of Business Operations Lauren Dreyer, T-Connect Lesotho CEO Phelane Phomane said the venture is expected to create 10,000 direct and 50,000 indirect jobs in Lesotho.

"We will develop AI-powered data centres using Starlink across Lesotho, South Africa and Botswana in collaboration with the Development Bank of Southern Africa (DBSA)," Phomane said.

He said the Lesotho data centre, to be built high in the mountains, "will be the highest and most unique data centre in the world ... and one of only four in the world powered by Starlink".

He promised Starlink-powered community internet hotspots in all ten districts within weeks. These would allow anyone with a special code to access the internet without data caps.

"We are not going to be selling megabytes but time to use the internet without limitations and it's going to cost less than a loaf of bread, which is M14 (R14)," Phomane said.

T-Connect is also banking on the deep African networks of its chairperson Nolo Letele, who is widely credited with expanding MultiChoice and DStv across 50 African countries.

Letele said, "It's exciting to launch this on home soil, and we believe we will be able to bring coverage to pretty much anywhere in Lesotho where the sun shines."

Letele noted there were already Starlink installations in remote schools in the mountainous Thaba-Tseka district, places that "would never have internet" without Starlink.

He said DBSA is the main sponsor of the project in Southern Africa and is now supporting Starlink expansion in ten countries.

Acting Minister of Communications Matjato Moteane said that for Lesotho to progress, it must tackle the barriers posed by poor terrain and inadequate digital infrastructure.

"Due to our small market, all costs tend to be high," he said. "So, any provider who can keep service costs low will make a positive contribution to the country."

Moteane said Starlink could also help solve persistent problems of unstable connectivity, even in urban areas.

Read the original article on GroundUp.

Ghana's International Reserves Will Be Eroded By Sharp Decline in Gold Prices - Fitch Solutions

FITCH Solutions has warned that a sharp decline in global gold prices triggered by a return towards more conventional trade policies in the US and the resolution of major global geopolitical flashpoints will quickly erode Ghana's international reserves.

According to the UK-based firm, the central bank would in this scenario struggle to maintain the cedi at current levels, leading to a renewed sell-off.

"This would keep inflation elevated, lead to a weakening in consumer and investor sentiment and prompt the central bank to keep interest rates higher for longer," it captured as part of its downside risk forecast.

On the upside risk, it said a further appreciation of the cedi would bring inflation down more quickly than "we currently project".

This would support stronger private consumption and prompt the Bank of Ghana to ease monetary policy more rapidly, which would stimulate credit uptake.

It pointed out that the contribution of government consumption would be negative in 2025.

"This is because the government pursues fiscal consolidation in line with Ghana's International Monetary Fund programme," it said.

The report said a stronger exchange rate amid elevated gold prices would support the disinflation process, ease pressure on household budgets, and support consumer spending in the quarters ahead.

Read the original article on Ghanaian Times.

Ethiopia Takes Part in BRICS Urbanization Ministerial Forum

Addis Ababa, June, 24, 2025 (ENA)-- Ethiopia took part in the BRICS Urbanization Ministerial Forum, held in Brasilia, Brazil, according to the Ministry of Foreign Affairs.

On the occasion, Ethiopian Ambassador to Brazil, Leulseged Tadesse presented the integrated urban development initiatives.

Particularly, Ambassador Leulseged detailed the Urban Corridor Development that Ethiopia has continued to implement to make urban areas inclusive, safe, green, resilient and sustainable.

He also called for enhanced partnerships among BRICS members and partners to promote tangible collaboration on critical issues of urban development.

Read the original article on ENA.

Egypt: Suez Canal Economic Zone Chairman Receives 'Jilin' Provincial Chamber of Commerce Delegation

Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, received at the authority's headquarters in the New Administrative Capital, a delegation from the "Jilin" Provincial Chamber of Commerce, headed by Ms Wang Fang, the Chairperson of the Chamber.

The delegation includes officials from 20 major Chinese companies operating in the Jilin Province, whose activities vary across sectors including pharmaceuticals, medical devices, engineering industries, construction materials, transportation, and food industries. The meeting was attended by officials from the Jilin Chamber of Commerce, representatives of the Chinese companies, and several executive leaders from the Suez Canal Economic Zone.

During the meeting, Mr Walid Gamal El-Din outlined the key investment opportunities targeting the Suez Canal Economic Zone to localise and deepen industry within the region, as part of the authority's strategic vision aimed at enhancing Egyptian exports from these sectors, as well as meeting the needs of the local market and neighbouring regional markets. The Chairman of the Suez Canal Economic Zone pointed out the unprecedented competitive advantages enjoyed by the authority, whether through the availability of trained technical labour and competitively priced energy resources, or the strategic geographical location of the authority's ports on the Mediterranean and Red Seas, and the integration between them and the industrial and logistics zones, which provides access to nearly two billion global consumers.

He emphasised that the current political and economic stability and balanced international relations enjoyed by Egypt play an effective role in enhancing the investment climate within the authority, thereby supporting trade flows and the integration of global supply chains. For their part, members of the Jilin Chamber of Commerce delegation expressed their happiness at visiting the Suez Canal Economic Zone and getting to know its key investment components closely, especially in light of the strategic relations between Egypt and China, which have directly contributed to the growth of Chinese investments in the region across various sectors. They expressed their eagerness to collaborate with the authority in the coming phase to deepen industry in sectors of mutual interest such as pharmaceuticals, medical devices, construction, and various means of transportation. The Cabinet

Read the original article on Egypt Online.

Nigeria: Senate Extends Implementation of 2024 Budget Capital Projects By 6 Months

The Senate has approved a six-month extension for the capital component of the 2024 national budget, moving the implementation deadline from June 30 to December 31, 2025.

The decision was made during the plenary on Tuesday, following the presentation and swift passage of a bill to amend the 2024 Appropriation Act.

The amendment bill, sponsored by the chairman of the Senate Committee on Appropriation, Senator Solomon Adeola (APC, Ogun West), was passed through first, second, and third readings simultaneously.

Deputy Senate President, Jibrin Barau, announced the resolution after the adoption of the report from the Senate Committee on Supply.

Adeola said the extension was necessary to allow the federal government to complete various ongoing capital projects that have been delayed due to revenue shortfalls and funding constraints.

"We must not allow these important national projects to be abandoned due to time constraints," Adeola said.

"Extending the implementation period will ensure value for money and improved service delivery."

This marks the second time the 2024 capital budget implementation has been extended.

In December 2024, President Bola Tinubu requested and received approval to move the original deadline from December 31, 2024, to June 30, 2025.

That extension was aimed at ensuring the full utilisation of capital allocations and completion of key infrastructure projects.

With the June deadline approaching and many projects still uncompleted, lawmakers have now opted for an additional six months to avoid waste and stalled development.

The extension means that Nigeria will continue operating two budgets simultaneously -- the extended 2024 capital budget component and the already operational 2025 national budget.

While critics argued that repeated extensions reflect weak execution capacity within Ministries, Departments, and Agencies (MDAs), proponents insisted that the move was pragmatic and ensures continuity in governance.

Read the original article on Leadership.

Egypt Features in Oxford Economics Global Cities Index

Twelve Egyptian cities have been included in the latest Oxford Economics Global Cities ranking, according to a government statement. The ranking provides a data-driven overview of the economic attractiveness of cities worldwide, supporting strategic decision-making across sectors such as finance, real estate, infrastructure, logistics, and public policy. Amwal Al Ghad English Edited by SIS

Read the original article on Egypt Online.

Egypt: Petroleum Minister Oversees Progress of Energos Power Fsru for Egypt's Gas Grid

Minister of Petroleum and Mineral Resources Karim Badawi conducted an inspection tour On Tuesday, June 24, 2025, at the "Tahya Misr" berth in the Alexandria Port to check the progress of the "Energos Power" Floating Storage and Regasification Unit's (FSRU) preparation, before its move to Ain Sokhna Port for connection to its dedicated berth.

The units can receive imported liquefied natural gas (LNG) shipments, regasify them, and inject them directly into the national grid. They are expected to help bridge potential consumption gaps during peak periods, especially for power plants and vital sectors and represent a strategic step in enhancing the flexibility of the natural gas system.

The Ministry of Petroleum and Mineral Resources is racing against time to finalize preparations for the liquefied natural gas (LNG) regasification vessels and secure the state's natural gas needs during the summer months. During his tour, Badawi was briefed on the technical procedures and ongoing modifications in anticipation of commencing its transfer.

Furthermore, he was reassured about the availability of necessary raw materials and equipment to complete the preparation works carried out by Petrojet in cooperation with ENPPI and GASCO companies. Egypt's Oil & Gas

Read the original article on Egypt Online.

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