Major International Business Headlines Brief ::: 03 October 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  03 October  2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  South Africa's Contactable Gets $13.5m to Scale Digital ID Platform

ü  Nigeria: Paga Expands Into US With Digital Banking for African Diaspora

ü  Kenya: Cost, Stigma, and Fear - Obstacles Fueling Late Detection of
Breast Cancer

ü  Kenya's ARC Ride Bags $10m to Scale Battery-Swapping for E-Motorcycles

ü  Nigeria: Minister Inspects 43.65km Mararaba-Keffi Road, Laments Delay

ü  Nigeria: NDIC Warns Nigerians to Steer Clear of Unlicensed Banks, Ponzi
Schemes

ü  South Africa: Street Wallet Acquires Digitip to Offer E-Payments to
Informal Workers

ü  East Africa: U.S. Pledges Support for $10bn Airport Project in Ethiopia,
Considered Trump's First Major Horn of Africa Initiative

ü  South Africa: Unforced Error - How SA's Diplomatic Blunder Risks Its
Digital Future

ü  Sudan PM Unveils $100bn Saudi Investment Plan and GERD Review

ü  Nigeria: Oil Refineries Owners Seek End to Frequent Disruption of
Downstream Operations

ü  Rwanda: What Rwanda Needs to Electrify 20% of Its Bus Fleet By 2030

ü  Rwanda's Cyberhub Marks New Chapter in Digital Security, Skills
Development

ü  Namibia: Goantagab Mine Blasting Sparks Rhino Row

ü  Namibia's Economy Grows to N$64.8b in 3 Months

 


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South Africa's Contactable Gets $13.5m to Scale Digital ID Platform

South African digital identity startup Contactable has secured $13.5 million
in funding to expand its customer onboarding and KYC solutions across Africa

Contactable offers a single integration point for onboarding, identity
verification, fraud prevention, and compliance

Contactable said it will use the capital to pursue innovations in ultimate
beneficial ownership, artificial intelligence, self-sovereign identity, and
payments integration

South African digital identity startup Contactable has secured $13.5 million
in funding to expand its customer onboarding and KYC solutions across
Africa.

 

 

Based in Centurion, Contactable offers a single integration point for
onboarding, identity verification, fraud prevention, and compliance. The
platform enables businesses to manage the full digital identity lifecycle
securely while reducing costs linked to manual processes and fraud risk.

 

 

 

The funding round was led by Venture Capitalworks, with participation from
Fireball Capital, Ke Nako Capital, and Mavovo. Contactable said it will use
the capital to pursue innovations in ultimate beneficial ownership,
artificial intelligence, self-sovereign identity, and payments integration.

 

CEO and founder Shaun Strydom said the investment will allow Contactable to
expand into underserved markets while building digital infrastructure to
support Africa's digital economy. Venture Capitalworks managing partner
Brent Shahim said digital identity is central to financial inclusion and
digital transformation.

 

 

Daba is Africa's leading investment platform for private and public markets.
Download here

 

Key Takeaways

 

Contactable's raise underscores the rising importance of digital identity as
African economies push for broader financial inclusion and digital
transformation. With millions still excluded from formal financial systems
due to a lack of verifiable ID, platforms like Contactable are positioned to
fill critical gaps. By consolidating onboarding, eKYC, and compliance into a
single integration layer, the startup helps banks, insurers, and fintechs
reduce onboarding friction while strengthening trust. Investor interest
reflects a broader trend in African fintech funding shifting toward
infrastructure enablers -- identity, payment rails, and compliance -- rather
than just consumer-facing apps. Innovations in areas such as self-sovereign
identity and AI-driven verification could also position Contactable to
leapfrog traditional systems, aligning with global moves toward
decentralized ID frameworks. As cross-border digital trade grows under
AfCFTA, scalable identity solutions like Contactable's will be key in
enabling trust, reducing fraud, and unlocking new economic opportunities
across the continent.

 

Read the original article on Daba Finance.

 

 

 

 

 

 

Nigeria: Paga Expands Into US With Digital Banking for African Diaspora

Nigerian fintech startup Paga has entered the US market with a digital
banking service targeting the African diaspora

Founded in 2009, Paga operates a consumer digital wallet, a B2B
infrastructure platform called Paga Engine, and Doroki, a retail and SME
management tool

The company said its new US offering, built in partnership with a regulated
bank, will give Africans in the US access to international banking tailored
to their needs

Nigerian fintech startup Paga has entered the US market with a digital
banking service targeting the African diaspora.

 

 

Founded in 2009, Paga operates a consumer digital wallet, a B2B
infrastructure platform called Paga Engine, and Doroki, a retail and SME
management tool. The company said its new US offering, built in partnership
with a regulated bank, will give Africans in the US access to international
banking tailored to their needs.

 

 

 

Through the service, customers can open and manage a US-domiciled bank
account using a valid ID and residential address. The account enables
savings, payments, and cross-border transfers, aiming to ease financial
access for immigrants who often face high costs and limited options.

 

The rollout begins with Nigerians in the US, home to one of the largest
African immigrant communities, and forms part of Paga's wider international
expansion strategy.

 

Daba is Africa's leading investment platform for private and public markets.
Download here

 

 

Key Takeaways

 

Paga's US entry highlights how African fintechs are increasingly targeting
diaspora markets as a growth frontier. With more than 4.5 million African
immigrants in the US, remittances and cross-border payments remain costly
and fragmented, creating demand for tailored banking solutions. By offering
regulated US accounts with simplified onboarding, Paga addresses a major
pain point for diaspora users: the difficulty of accessing mainstream
financial services while maintaining seamless ties to home markets. This
strategy also broadens Paga's competitive edge against incumbents in
remittances such as Western Union and MoneyGram, as well as newer digital
challengers like Wise and Remitly. The move underscores a shift among
African fintechs toward building global platforms that connect diaspora
communities to financial ecosystems at home. If successful, Paga could
extend its model to other diaspora hubs in Europe and the Middle East,
reinforcing Africa's role as a testing ground for inclusive digital finance
at scale.

 

Read the original article on Daba Finance.

 

 

 

 

 

 

Kenya: Cost, Stigma, and Fear - Obstacles Fueling Late Detection of Breast
Cancer

Kisumu — When Miriam, not her real name, first discovered a lump in her
breast, she waited six months before seeking medical help.

 

"I didn't think it was cancer," the 46-year-old mother of four from Manyatta
in Kisumu recalls.

 

"I wasn't sick and could still work...I thought cancer meant losing your
hair and getting thin."

 

Stories like Miriam's are tragically common across western Kenya, where
fear, misinformation, poverty, and limited access to healthcare fuel a
silent crisis: the late diagnosis of breast cancer among women.

 

 

 

At Jaramogi Oginga Odinga Teaching and Referral Hospital (JOOTRH) in Kisumu,
doctors report that more than 70 per cent of breast cancer patients arrive
when the disease is already in Stage 3 or 4--far beyond the point where
treatment is most effective. Many never survive.

 

 

"We've lost 20 percent of the women we enrolled in our breast cancer program
within just six months of diagnosis," says Dr. Ng'ong'a Albert, a senior
general surgery resident and lead clinician of the Kisumu Breast Cancer
Project.

 

"They come too late, and that's what we're trying to change."

 

For many women, the journey to diagnosis begins--and often ends--in the
community. Low awareness and cultural misconceptions remain significant
barriers.

 

Countless households never teach women how to examine their breasts--a
basic, life-saving practice that could trigger early detection.

 

Even healthcare workers are not always well-informed.

 

"Just this week, I taught a hospital secretary how to do a self-breast
exam," recalls Dr. Ng'ong'a. "If she didn't know, what about women in the
villages?"

 

 

But even when symptoms are recognized, cost becomes the next overwhelming
hurdle.

 

Costly treatment

 

A single hospital visit can cost around Sh1,000 in transport--an
unaffordable expense for many rural families.

 

A full diagnostic process for breast cancer can exceed Sh50,000, excluding
treatment. With 80 percent of women seen at JOOTRH either unemployed or in
informal work, such costs are simply out of reach.

 

Then there is the healthcare system itself: only a handful of facilities in
the region offer diagnostic services. JOOTRH remains one of the few centers
equipped to comprehensively manage breast cancer cases.

 

In response, JOOTRH, in partnership with several organizations, launched the
Kisumu Breast Cancer Project in January 2025.

 

The project has screened and supported 77 women, fully covering the costs of
biopsies, lab tests, and treatment navigation through donor funding. Yet,
late presentation continues to pose a major challenge.

 

Now in its second phase, the initiative is expanding into active community
outreach. Beginning this October, JOOTRH will offer free breast cancer
screenings every Tuesday and Friday.

 

According to Dr. Ng'ong'a, women will receive risk assessments, and those
deemed high-risk--or aged over 40--will be offered free mammograms.

 

"Anyone found with suspicious lumps will receive biopsies and lab
diagnostics at no cost, along with support navigating the healthcare system
for treatment," he said.

 

Cancer patients and survivors hope that JOOTRH's recent elevation to
parastatal status will accelerate the establishment of a long-awaited cancer
treatment center.

 

Kevin Okaro, a throat cancer survivor diagnosed in 2019 and now cancer-free,
stressed the urgency.

 

"There is a cancer centre building currently under construction at JOOTRH by
the county government, but progress has been slow. With the hospital's
upgrade to Level Six status, I believe the project will now gain momentum,"
he said.

 

Read the original article on Capital FM.

 

 

 

 

Kenya's ARC Ride Bags $10m to Scale Battery-Swapping for E-Motorcycles

ARC Ride runs a Battery-as-a-Service model that allows riders to switch to
electric motorcycles and swap depleted batteries for charged ones in minutes

The funding will enable ARC to deploy more than 600 battery-swapping
cabinets and 25,000 batteries across Kenya

Kenyan electric mobility startup ARC Ride has raised $10 million in debt
financing from Paris-based sustainable investment manager Mirova to expand
its battery-swapping infrastructure for motorcycles.

 

 

ARC Ride runs a Battery-as-a-Service model that allows riders to switch to
electric motorcycles and swap depleted batteries for charged ones in
minutes, reducing upfront vehicle costs and removing fuel and range
concerns.

 

 

 

The funding will enable ARC to deploy more than 600 battery-swapping
cabinets and 25,000 batteries across Kenya, CEO Joseph Hurst-Croft said. The
capital comes from Mirova's Gigaton Fund, marking the fund's first
investment in an e-mobility company.

 

Mirova said the transaction applied a blended finance approach to de-risk
the venture and attract future private capital. ARC Ride's model is designed
to reduce carbon emissions while making electric transport more accessible
and affordable in African cities.

 

Daba is Africa's leading investment platform for private and public markets.
Download here

 

 

Key Takeaways

 

ARC Ride's $10 million financing reflects growing investor interest in
Africa's electric mobility sector as governments and businesses seek
low-carbon transport solutions. Motorcycles play a central role in urban and
peri-urban mobility across Africa, but their reliance on fossil fuels
increases costs and emissions. Battery-swapping networks lower barriers to
adoption by tackling two key hurdles: high upfront costs of e-motorcycles
and the lack of charging infrastructure. By using a BaaS model, ARC enables
riders to pay for energy as needed while extending the lifespan of batteries
through centralized charging. For Mirova, the deal aligns with its
climate-focused strategy and demonstrates how blended finance can help
de-risk early-stage investments in emerging markets. If successful, ARC's
model could be replicated across other African countries, positioning
battery-swapping as a cornerstone of the continent's clean transport
transition and offering a scalable path to reducing emissions while boosting
livelihoods for riders.

 

Read the original article on Daba Finance.

 

 

 

 

 

 

Nigeria: Minister Inspects 43.65km Mararaba-Keffi Road, Laments Delay

Abuja — The Minister of State for Works, Bello Goronyo, yesterday conducted
an on-site inspection of the ongoing reconstruction and expansion works on
the 43.65-kilometre Mararaba-Keffi Road, a critical infrastructure upgrade
under the Road Infrastructure Development and Refurbishment Investment Tax
Credit Scheme.

 

Executed by China Harbour Engineering Company Nigeria Limited, the minister,
during the inspection, expressed serious concern over the pace of work and
the persistent traffic congestion along the corridor, which serves as a
vital link between the Federal Capital Territory (FCT) and Nasarawa state.

 

 

He noted that the daily gridlock severely affects thousands of commuters,
particularly civil servants residing along the axis, many of whom struggle
to arrive at work on time, a statement by the Director, Press and Public
Relations Department, Mohammed Ahmed, said.

 

Goronyo emphasised the urgency of expediting the construction timeline,
reminding the contractor that the federal government had granted permission
for night-time construction activities to ensure faster delivery and to
mitigate the hardship faced by road users.

 

 

"This project is of national importance. The volume of traffic here is
massive, and many public servants are suffering. The government is fully
supportive of this project, but the contractor must rise to the occasion.
You have approval to work at night -- please utilise it to meet the delivery
schedule," the minister stated.

 

In response, the Project Manager, Mr. Dong Hong, representing China Harbour
Engineering Company Nigeria Limited, assured the minister and the Nigerian
public that the project remains on track and will be completed within the
agreed timeline.

 

 

"We understand the importance of this road and the urgency to ease traffic
for the people. Our team is fully mobilised, and we are committed to
delivering quality work on time," said Hong.

 

The Mararaba-Keffi road project forms part of the federal government's
efforts to address critical infrastructure needs through innovative
financing mechanisms such as the Tax Credit Scheme, which allows private
sector partners to invest in public road projects in exchange for tax
reliefs.

 

The Federal Ministry of Works said it remains committed to ensuring that all
ongoing infrastructure projects are delivered efficiently, timely, and to
the highest standards, in line with President Bola Tinubu's infrastructure
agenda.

 

Read the original article on This Day.

 

 

 

 

Nigeria: NDIC Warns Nigerians to Steer Clear of Unlicensed Banks, Ponzi
Schemes

Abuja — Managing Director/Chief Executive, Nigeria Deposit Insurance
Corporation (NDIC), Dr. Oludare Sunday, yesterday advised Nigerians to stay
away from banks and other financial institutions that are not licensed by
the Central Bank of Nigeria (CBN).

 

He also said customers must not patronised any bank, fintech and payment
services that are not covered by the NDIC as well as avoid ponzi schemes.

 

Sunday made the appeal in Abuja at the NDIC Special Day at the ongoing 20th
Abuja International Trade Fair (AITF) with the theme, "Sustainability:
Consumption, Incentives and Taxation".

 

 

Represented by NDIC Director, Performance Management Department, Olabimpe
Akande, he noted that the corporation had over three decades played a vital
role in safeguarding depositors funds, particularly the most vulnerable, and
fortifying the financial system.

 

 

 

He said the NDIC primary objectives included insuring deposits in licensed
banks, supervising financial institutions, managing distressed banks, and
ensuring a smooth resolution process in the event of bank failures.

 

The MD further reaffirmed its commitment to protecting Nigerians' banks.

 

He said, "Furthermore, I would like to emphasise the importance for
Nigerians to remain vigilant against Ponzi schemes and other fraudulent
investment platforms. Always ensure your funds are placed only in Central
Bank of Nigeria licensed banks, all of which are covered by deposit
insurance provided by the NDIC. This vigilance is crucial to protecting your
hard-earned savings.

 

 

"Despite the rapid growth and adoption of financial technology in our
banking sector, traditional banks continue to play a vital role and
regulatory frameworks have been strengthened to ensure the compliance and
stability of all deposit-taking institutions in the country."

 

He said currently, NDIC insures depositors of Deposit Money Banks (DMBs),
Mobile Money Operators and Non-Interest Banks, up to a coverage limit of N5
million, adding that depositors of Payment Service Banks (PSBs) Microfinance
Banks (MFBs) and Primary Mortgage Banks (PMBs) are insured up to N2 million.

 

According to him, the enhanced coverage ensures that about 98.98 per cent of
total depositors in Deposit Money Banks, 99.27 per cent in microfinance
banks, 99.34 per cent in Primary Mortgage Banks, and 99.99 per cent in
Payment Service Banks are protected, reflecting NDIC's unwavering commitment
to fulfilling its mandate.

 

 

He pointed out that in partnership with the CBN, NDIC strives to maintain
stability in the banking sector, enforce compliance with banking
regulations, and exercise effective oversight over insured deposit-taking
institutions.

 

Sunday said, "Our mission, embodied in the tagline 'Protecting your bank
deposits,' is to promote financial inclusion and stability by reassuring
Nigerians of the security of their savings.

 

Significant progress has been made in protecting depositors' funds, notably
through the increase in the maximum deposit insurance coverage, which has
broadened protection across various licensed banks."

 

Continuing, he said, "In the event that a bank fails, depositors with
account balances exceeding the insured coverage limit receive an initial
payment up to the maximum insured amount. Their remaining balances are then
paid through liquidation dividends.

 

"Liquidation dividends refer to payouts made to depositors and creditors
from the proceeds generated from the sale of a failed bank's assets and
recovered debts during the liquidation process. These dividends are usually
paid on a pro-rata basis, meaning depositors receive a proportionate share
of the recovered funds relative to their outstanding balances beyond the
insured limit.

 

"An example of this process was the revocation of Heritage Bank's license on
June 3, 2024. The NDIC promptly reimbursed insured deposits using the Bank
Verification Number (BVN) in collaboration with the Nigeria Inter-Bank
Settlement System (NIBSS) as a unique identifier to locate alternate
accounts for payment. Depositors with sums exceeding five million naira were
first paid five million naira, with liquidation dividends disbursed
subsequently from recovered assets and debts.

 

"The first tranche of liquidation dividends commenced on April 25, 2025, and
payments continue, as the corporation continues to realise the sale of
assets and recover debts demonstrating the NDIC's effectiveness in ensuring
comprehensive depositor protection and financial stability.

 

"This approach aligns with many successful liquidation cases where the NDIC
continues to meet claims responsibly, reinforcing public confidence in the
financial safety net."

 

Read the original article on This Day.

 

 

 

 

 

 

South Africa: Street Wallet Acquires Digitip to Offer E-Payments to Informal
Workers

South African fintech startup Street Wallet has acquired Digitip, a platform
that enables informal workers to receive digital tips

Street Wallet, founded in 2021, offers mobile payment solutions that allow
vendors to accept cashless payments without traditional bank accounts or
hardware

The deal follows Street Wallet's $350,000 fundraise last month aimed at
scaling operations and deepening its market reach across South Africa

South African fintech startup Street Wallet has acquired Digitip, a platform
that enables informal workers to receive digital tips, strengthening its
footprint in KwaZulu-Natal and advancing its goal of supporting informal
traders in the digital economy.

 

 

Street Wallet, founded in 2021, offers mobile payment solutions that allow
vendors to accept cashless payments without traditional bank accounts or
hardware. Customers can pay via Apple Pay, Samsung Pay, SnapScan, Zapper, or
Scan-To-Pay, with vendors receiving instant confirmations. Daily earnings
are converted into Standard Bank Instant Money Vouchers, withdrawable at
ATMs and retailers.

 

 

 

Digitip, launched in 2023, enabled service workers to receive digital
gratuities. Its integration into Street Wallet will deliver faster payouts,
lower transaction fees, and improved user experiences for customers and
merchants.

 

The deal follows Street Wallet's $350,000 fundraise last month aimed at
scaling operations and deepening its market reach across South Africa.

 

 

Daba is Africa's leading investment platform for private and public markets.
Download here

 

Key Takeaways

 

Street Wallet's acquisition of Digitip signals growing consolidation in
South Africa's digital payments space, especially within the underserved
informal economy. Informal workers and traders represent a large share of
South Africa's workforce but remain excluded from traditional banking. By
combining Street Wallet's infrastructure with Digitip's tipping platform,
the merged business aims to accelerate financial inclusion by providing
low-cost, instant, and flexible payment options. This model also reflects
broader regional fintech trends, where startups are building solutions
tailored to the realities of cash-heavy economies while leveraging mobile
penetration to expand access. The deal strengthens Street Wallet's regional
presence, particularly in KwaZulu-Natal, and positions it to scale
nationwide. For informal traders, access to lower-cost transactions and
same-day payouts could be transformative, helping them better manage
liquidity and build financial resilience. For investors, the acquisition
highlights how niche fintech solutions are converging to serve Africa's
informal sector -- a massive, yet largely untapped, market.

 

Read the original article on Daba Finance.

 

 

 

 

East Africa: U.S. Pledges Support for $10bn Airport Project in Ethiopia,
Considered Trump's First Major Horn of Africa Initiative

The United States has pledged support for the construction of a $10 billion
international airport in Ethiopia, in what marks President Donald Trump's
first major business initiative in the Horn of Africa.

 

U.S. Senior Advisor for Africa, Massad Boulos, announced the commitment
during a recent visit to Ethiopia ahead of the United Nations General
Assembly. He confirmed that the U.S. International Development Finance
Corporation (DFC) is involved in the project and working in collaboration
with Boeing on initiatives linked to Ethiopian Airlines and other ventures
across Africa, Business insider Africa reported.

 

 

 

The planned Bishoftu International Airport, located 40 kilometres south of
Addis Abeba, will be built in phases. The first phase is expected to
accommodate 60 million passengers annually, with expansion plans to increase
capacity to 110 million passengers and 3.73 million tonnes of cargo per
year. Groundwork is scheduled to begin in late 2025, with completion set for
November 2029.

 

 

Once completed, Bishoftu International Airport will be the largest and most
expensive airport project on the continent, surpassing Johannesburg's O.R.
Tambo International Airport in scale and handling capacity. The facility is
designed with four runways, an integrated airport city, and the capacity to
serve 100 million passengers annually, placing it on par with or above Cape
Town International Airport, which was recognised with a Skytrax World
Airport Award in 2025.

 

The project will cover 34 square kilometres and is expected to ease
congestion at Bole International Airport, which will continue to handle
domestic flights. The airport city will include hotels, shopping centres,
and recreational facilities, further supporting Ethiopian Airlines' growth
as Africa's largest carrier and strengthening Ethiopia's position as a
regional aviation hub.

 

It was reported that Mesfin Tasew, Ethiopian Airlines Group CEO, said that
the new Bishoftu International Airport is expected to commence international
flight operations by 2030, after the completion of construction in five
years.

 

 

Mesfin noted that preparations for the project were finalized to start the
construction in the 2018 Ethiopian fiscal year. He added that housing
construction for the relocation of farmers displaced by the project is being
finalized.

 

In August 2025 the African Development Bank announced that it will
contribute $500 million towards the financing of a new airport in Ethiopia.

 

"The bank has itself earmarked up to $500 million, subject to board
approval, to anchor the funding of this transformational regional
integration project," the development bank said in a statement.

 

It was reported also the African Development Bank Group (AfDB) has signed an
agreement with Ethiopian Airlines Group to mobilize $8 billion for the
construction of Bishoftu International Airport, which is set to become
Africa's largest airport upon completion.

 

Read the original article on Addis Standard.

 

 

 

 

 

South Africa: Unforced Error - How SA's Diplomatic Blunder Risks Its Digital
Future

By bowing to Beijing over Taiwan, South Africa has provoked a country that
is the leader in a technology critical to modern life.

 

In a geopolitical environment increasingly influenced by technological
power, South Africa has taken a significant and potentially self-sabotaging
misstep.

 

Taiwan's recent decision to curb chip exports to South Africa, announced on
23 September 2025, was not a random act of economic aggression; it was a
direct tit-for-tat retaliation to Pretoria's repeated diplomatic actions to
unilaterally downgrade and rename Taiwan's representative offices.

 

By bowing to Beijing, South Africa has provoked a country that is the leader
in a technology critical to modern life. This move, seemingly made in an
attempt to align more closely with China, could hinder and delay South
Africa's industrial and digital development for years.

 

On 21 July 2025, following a delegation led by Deputy President Paul
Mashatile to China from 14 to 18 July, Pretoria issued an official notice
formalising the renaming of Taiwan's representative offices in Pretoria and
Cape Town (officially known as the Taiwan Liaison Office) to the Taipei
Commercial Office.

 

To add insult to injury, the notice issued in the Government Gazette was
backdated to take effect from 1 April, reportedly without consultation with
Taiwan officials. The South African government, citing its alignment with
Beijing's "One-China" policy, also reiterated demands for Taiwan to...

 

Read the full story on Daily Maverick.

 

 

 

 

 

 

 

Sudan PM Unveils $100bn Saudi Investment Plan and GERD Review

New York / Port Sudan / Cairo / Addis Ababa / El Fasher / Washington D.C. —
Sudan's Prime Minister Kamil El Tayeb Idris has announced a $100 billion
package of investment projects proposed to Saudi Arabia and a fresh review
of the Grand Ethiopian Renaissance Dam (GERD) with Ethiopia and Egypt.

 

Speaking at a press conference in Port Sudan on Wednesday after returning
from the UN General Assembly in New York, Idris said he presented 100 joint
projects to Riyadh focused on the Red Sea's untapped resources, which he
argued could make Sudan and Saudi Arabia "among the richest countries in the
world" if developed in partnership.

 

He also pledged a comprehensive reassessment of Sudan's approach to the Nile
dam dispute, emphasising direct diplomacy with both Cairo and Addis Ababa.

 

 

The Prime Minister added that recent floods in Sudan, which angered many
Sudanese people, were widely believed to have resulted from the dam's gates
being opened. However, the Ministry of Agriculture attributed the flooding
to heavy rains linked to climate change.

 

El Fasher siege

 

Idris said his top priorities in New York were lifting the siege on North
Darfur's capital of El Fasher and pressing for the pramilitary Rapid Support
Forces (RSF) to be designated a terrorist group. He emphasised Sudan's
sovereignty, unity, and territorial integrity, adding that the international
community responded positively to Khartoum's position.

 

The Prime Minister revealed that UN Secretary-General António Guterres
accepted his invitation to visit Sudan.

 

 

African Union return

 

Idris also declared that Sudan's readmission to the African Union (AU) is "a
matter of time". He underlined the AU's role as Sudan's "real support",
noting that every country he met backed Sudan's reintegration. The AU
suspended Sudan's membership following the October 2021 military coup.

 

US sanctions

 

Idris condemned the US State Department sanctions on Sudan as "unjust" and
revealed they are currently under review following his meetings with
American officials.

 

Washington imposed sanctions on Sudan over alleged use of chemical weapons,
while also targeting commander-in-chief of the Sudanese Armed Forces, Lt Gen
Abdelfattah El Burhan and RSF Commander Mohamed 'Hemedti' Dagalo.

 

The Prime Minister reiterated that decisions on humanitarian aid corridors
remain a sovereign and security matter, stressing that state institutions
must be involved to safeguard Sudan's sovereignty.

 

'No famine in Sudan'

 

Idris dismissed reports of famine in Sudan as "false", insisting that
international organisations and some media outlets are misrepresenting the
situation.

 

Speaking at the weekly Ministry of Culture and Information platform in Port
Sudan, he acknowledged severe hardship in besieged areas such as El Fasher
but argued this does not amount to famine.

 

"The situation in Sudan cannot be described as famine," Idris said. "There
are areas under siege that require urgent international action to lift
blockades, but Sudan has passed the stage of famine permanently. We will not
allow anyone to revive this claim, and we have confronted these allegations
firmly with evidence."

 

His statement comes as numerous aid organisations, along with the Integrated
Food Security Phase Classification (IPC), declared famine in five areas of
North Darfur and Kordofan last December. Since then, Radio Dabanga has
reported widespread malnutrition, with people resorting to eating ambaz
(animal feed) to stave off hunger.

 

In January, the Sudanese Ministry of Foreign Affairs rejected the findings
of the IPC report, claiming that they "do not reflect an objective and
accurate description of the reality of food security in Sudan", "ignore
reliable scientific indicators" and "fail to follow agreements reached with
Sudanese experts", adding that the data used is outdated "as no field
surveys have been conducted since 2022".

 

Read the original article on Dabanga.

 

 

 

 

 

 

 

Nigeria: Oil Refineries Owners Seek End to Frequent Disruption of Downstream
Operations

The Crude Oil Refineries Owners Association of Nigeria (CORAN) yesterday
warned that the Nigerian petroleum industry may suffer imminent collapse if
steps are not taken to stop the disruptions in the sector by key
stakeholders.

 

In its message on Nigeria's 65th Independence Day celebrations, the Momoh
Oyarekhua-led organisation appealed to the federal government to urgently
intervene in addressing the rising disputes within the petroleum sector,
warning that prolonged conflicts could destabilise Nigeria's energy
security, undermine private refinery operations, and disrupt the wellbeing
of millions of citizens.

 

 

According to CORAN, the ongoing disagreements among key players pose an
immediate risk to the stability of the industry, stressing that without
prompt and decisive government action, the disputes will continue to
threaten private refinery operations and widen the country's dependence on
imported petroleum products.

 

CORAN stressed that no union or group of individuals should be allowed to
unilaterally block the supply of crude oil or gas to any refinery in
violation of existing agreements. Such actions, it noted, undermine not only
contractual obligations but also the broader national interest.

 

Follow us on WhatsApp | LinkedIn for the latest headlines

 

For this reason, CORAN called on the federal government to restore sanity
and fairness by ensuring that contractual rights are respected and disputes
are resolved through transparent dialogue and fair processes.

 

The association also recommended that the government should convene all
stakeholders in the oil and gas refining value chain to deliberate on a
binding framework that protects supply contracts, encourages investment, and
secures the national economy from recurring disruptions.

 

 

The group emphasised that the survival of private refineries was
indispensable to achieving energy self-sufficiency, safeguarding foreign
exchange reserves, and protecting household welfare.

 

CORAN highlighted the significant contributions of private refineries to
Nigeria's economy, emphasising that its members, made up of locally owned
refining businesses, have invested heavily--often with limited access to
funding--in projects that aim to provide the country with a sustainable
energy future.

 

These refineries, it said, help reduce reliance on imported petroleum
products, saving the government scarce foreign exchange, and creating
opportunities for local employment and industrial development.

 

"Despite these efforts, CORAN acknowledges that private refiners continue to
face enormous challenges. Access to crude oil feedstock remains one of the
most pressing obstacles, often complicated by regulatory delays and supply
chain disruptions.

 

"Additionally, the business environment is hampered by the disruptive
actions of vested interests who benefit from the continuation of import
dependence. Such actors are resistant to change and are using disputes
within the industry as leverage to undermine the growth of the local
refining sector," the organisation stated.

 

The association maintained that Nigeria cannot afford to have its energy
system held hostage by conflicts that drag on without resolution. It argued
that the resilience of the nation's refining industry was critical to
economic health, job creation, and the stability of every Nigerian household
that relies on affordable energy.

 

By protecting private refinery operators and ensuring uninterrupted access
to crude and gas supply, the government, it said, would be reinforcing one
of the country's most strategic pillars of economic security.

 

CORAN further stressed that the federal government must act decisively,
impartially, and without delay. It insisted that investigating all claims
and counterclaims in an impartial manner is the only way to foster mutual
trust and long-term peace within the industry.

 

Moreover, the association argued that a government-led resolution process
would not only prevent energy instability but also send a clear signal to
investors that Nigeria is serious about building a sustainable and
predictable petroleum sector, which takes the welfare of its citizens into
account.

 

Read the original article on This Day.

 

 

 

 

 

 

 

Rwanda: What Rwanda Needs to Electrify 20% of Its Bus Fleet By 2030

Kigali's peak power demand is projected to increase by 64% by 2030, even
without electric vehicles.

 

The government's ambition to electrify 20 percent of its bus fleet by 2030
will require significant investment in power infrastructure, clear policy
frameworks, and innovative financing mechanisms, according to a new World
Bank report released on Wednesday, October 1.

 

The study, Exploring Enabling Energy Frameworks for Electric Mobility in
Rwanda, was prepared under the Rwanda Urban Mobility Improvement Project
(RUMI). It assesses electricity demand, charging infrastructure, and
regulatory frameworks, while offering a roadmap for coordinated progress in
energy and transport.

 

 

The government has pledged to electrify a fifth of its buses within the next
five years, building on early initiatives in Kigali where private operators
have deployed e-buses and charging stations. Most chargers currently in use
are rated between 120 kW and 160 kW, supporting overnight charging for 5-20
buses per site.

 

"Electric mobility is not only about cleaner buses. It is about building the
foundations of a modern economy powered by sustainable energy. The World
Bank is proud to support Rwanda as it aligns its energy and transport
systems to meet its development goals," said Sahr Kpundeh, World Bank
Country Manager for Rwanda.

 

The report cautions that electric mobility could place additional strain on
Rwanda's grid if expansion is not carefully managed.

 

"Kigali's peak power demand is projected to increase by 64 percent by 2030,
even without electric vehicles. The addition of e-mobility will further
strain the system, and without upgrades, the number of overloaded lines
could be four times higher by 2030," it states.

 

Smart charging is highlighted as a key solution, with potential to ease
stress on distribution networks by up to 15 percent if charging is shifted
to off-peak hours and aligned with solar power.

 

ALSO READ: Rwanda's EV adoption won't overload electricity supply - REG

 

"Our analysis shows Rwanda can achieve its goals if smart charging,
cost-reflective tariffs, and integrated planning are prioritised," said
Tarek Keskes, World Bank energy specialist.

 

The report recommends creating a unified roadmap, establishing a sustainable
transport working group, integrating EV charging into electricity pricing
models, and mandating EV-ready infrastructure in new developments.

 

 

Nyabugogo hub: a pilot case

 

A strategic priority is the transformation of the Nyabugogo multi-modal
transit hub. Planned upgrades include 18 chargers, an 800 kW solar PV
system, and 470 kWh battery storage, at an estimated cost of $7.7 million.

 

ALSO READ: Rwanda extends import tax exemption for electric vehicles

 

The hub's expected 2,160 kW peak demand will require two 1,250 kVA
transformers. Charging options under review range from 120 kW high-power
chargers for rapid top-ups during busy hours to slower overnight systems.

 

Other hubs under consideration include Kigali's CBD, Remera, Kimironko,
Nyanza, and Kabuga--sites chosen for strong grid connections and limited
need for costly upgrades.

 

Policy, financing, and waste management

 

The report stresses the need for strong policy and financing frameworks,
including blended finance, public-private partnerships, grants, and green
bonds. It also calls for regulations on battery waste and an Extended
Producer Responsibility scheme to ensure safe recycling.

 

"The Government of Rwanda is committed to accelerating the transition to
electric mobility as part of our climate and development agenda," said Jimmy
Gasore, Minister of Infrastructure.

 

MININFRA has already drafted a national master plan for EV charging
stations, ensuring that no vehicle travels more than 50 kilometres without
access to a charger.

 

A geospatial analysis identified more than 224 potential sites nationwide,
with efforts underway to attract private investment--particularly in
high-density urban areas and at existing petrol stations and commercial
centres.

 

Rwanda is also exploring second-life uses for EV batteries and the potential
of Vehicle-to-Grid (V2G) technology, which would allow e-buses to serve as
mobile energy storage and provide backup power when needed.

 

Read the original article on New Times.

 

 

 

 

Rwanda's Cyberhub Marks New Chapter in Digital Security, Skills Development

A national centre of excellence in cybersecurity and data protection was
launched in Kigali on Thursday, October 2. Government officials and partners
called it a milestone in building the country's talent pool and
strengthening resilience against growing digital threats.

 

ALSO READ: Govt sets up cybersecurity academy to tackle tech threats

 

The CyberHub, which is hosted at University of Rwanda's College of Science
and Technology, is equipped with high-functioning computers provided by
Cisco, an American multinational corporation, and other partners. It will
serve as both a training ground and an innovation space for the next
generation of cybersecurity professionals.

 

 

Speaking at the launch, Paula Ingabire, the Minister of ICT and Innovation,
said the CyberHub represents more than defence against cyber risks.

 

 

 

"When we invest in cybersecurity, it's not just about defence. We are
creating jobs, we are creating services, we are creating startups," Ingabire
said. "Our metrics will not be how many people we train. Our metrics will be
how the industry is growing, and how resilient our systems are."

 

Last month, the government rolled out a flagship initiative dubbed
"Positioning Rwanda as a Regional Digital Entrepreneurship Hub" which will
empower local startups and entrepreneurship support organizations (ESOs)
with strategic guidance and funding.

 

As cyber threats become more complex, officials and partners agreed that
CyberHub will not only strengthen Rwanda's defences but also unlock
opportunities in a growing global industry.

 

"This is not something we're building just for the government," Ingabire
said. "It's for the private sector, academia, and entrepreneurs who can turn
skills into thriving businesses."

 

ALSO READ: Experts urge online caution as 'first defence'

 

Ingabire stressed that people remain the weakest link in digital security,
underscoring the hub's focus on human capital. Rwanda plans to train 200
specialists through the centre in the short term, while also working toward
broader national targets, including 500,000 ICT professionals within five
years.

 

A delegate from Cisco, the lead technology partner, described the CyberHub
as one of their flagship projects under its global Country Digital
Acceleration programme.

 

 

"At Cisco, we believe in the power of technology to connect, secure, and
transform lives," said Dima Kandelhaft, Senior Director. "This hub will
directly address the skills gap and build future-ready talent capable of
working with AI in a safe and secure environment."

 

Cisco has been working with Rwanda since 2009, after scooping a partnership
award to Rwanda Development Board in recognition of its outstanding capacity
building efforts in collaboration with Cisco IT initiatives.

 

Through its long-standing Networking Academy, more than 28,000 Rwandans, 30
percent of them women, have been trained. The new centre is expected to
raise those numbers while providing practical access to cutting-edge
cybersecurity tools.

 

ALSO READ: Inside Rwanda's plan to fast-track digital transformation by 2026

 

David Kanamugire, CEO of the National Cyber Security Authority (NCSA), said
the hub is a response to Rwanda's pressing challenge of building credible
security for its digital future.

 

"At this centre, students will have access to some of the world's best
technologies to gain hands-on skills in cybersecurity," Kanamugire said.
"Our hope is that graduates from here will address the skills shortage in
Rwanda and beyond, while also driving innovation in the sector."

 

Alongside the officials, IT experts demonstrated how the technology will
work. Joel Kashaija, CEO of Shield Tech Hub, explained that one of their key
innovations--Threat Informant--monitors dark web markets for leaked data,
alerting clients before breaches cause damage.

 

"Rwanda is a country that is heavily digitized, so these threats are going
to keep rising," Kashaija told The New Times. "That's why proactive
solutions and training are critical not just for companies here, but also
for the international partners we work with."

 

He noted that their role is to train NCSA's partners, including students and
corporate IT professionals, with the goal of equipping them with practical,
hands-on knowledge that will help them flourish in their careers and excel
as they take on job positions.

 

Read the original article on New Times.

 

 

 

 

 

 

Namibia: Goantagab Mine Blasting Sparks Rhino Row

The large-scale blasting at the Goantagab mine in the Sorris Sorris
conservancy near Khorixas last Friday has reignited debate over the
potential threat to desert-adapted rhinos, tourism and the interests of
traditional leaders.

 

On Tuesday, Dâure Daman Traditional Authority chief Zacharias Seibeb
threatened to relocate three rhinos from the area to Etosha National Park to
make way for tin exploration.

 

"If Ultimate Safaris and all others are not willing to co-exist with mining,
I will request the Ministry of Environment and Tourism to relocate these
alleged three black rhinos to Etosha Pan in the interest of generating 300
jobs for my people," he told one of the critics of the mining activities in
the conservancy.

 

 

Seibeb, who has publicly backed mining in the conservancy, is himself facing
possible removal by urban and rural development minister James Sankwasa.

 

 

 

The mining exploration is being led by Timoteus Mashuna, a rare earth
mineral explorer who allegedly profited from a controversial N$50-million
deal near Uis, where a mining licence was sold to Chinese company Xinfeng.

 

Now, he has set eyes on finding tin at Goantagab near Khorixas for a
possible future sale deal with Andrada. But his ambition is opposed by
tourism and wildlife operators who fear conservation will be damaged by
ongoing blasting, which could chase wildlife away in north-west Namibia.

 

Chief among conservationists' complaints is that the mining proponents are
allegedly violating their environmental clearance certificate (ECC), the
permit allowing companies to explore for minerals. They argue that the
current scale of operations constitutes large-scale mining, which by law
cannot be conducted under the pretext of mining claims.

 

 

Mining claims, they say, are intended for small-scale, artisanal operations
and are subject to only minimal environmental oversight.

 

In contrast, they believe large-scale mining operations require a mining
licence, which comes with a completely different regulatory framework and
far more stringent environmental, social and economic requirements,
including public consultation and full-scale assessments.

 

According to Doro !Nawas conservancy manager Laurencia Naobes, last Friday's
blasting at the mine generated noise and dust which made the animals scurry
in all directions.

 

"The mine is in part of the joint management area (JMA) which incorporates
parts of Sorris Sorris, Doro !Nawas and Uibasen Twyfelfontein conservancies
and as part of the JMA, we are concerned with what is happening at the
mine," she says.

 

 

BLAST AFTER BLAST

 

The blasting took place after High Court judge Boas Usiku dismissed an
urgent application by Ultimate Safaris, Doro !Nawas and Uibasen
Twyfelfontein conservancies, as well as the #Aodaman Traditional Authority
on Friday last week to halt the blasting.

 

This followed a notice to conduct the first blast at the mine that Mashuna
gave to Sorris Sorris conservancy and other stakeholders.

 

The conservancies and Ultimate Safaris have opposed the reopening of
Goantagab mine, saying the use of heavy machinery would scare away the
rhinos, a tourism drawcard.

 

The matter is pending in the High Court and the applicants have instituted
an urgent hearing scheduled for 8 October, or thereafter, according to court
papers filed.

 

Naobes also took issue with the environment commissioner in the Ministry of
Environment and Tourism, Timoteus Mufeti, for giving Mashuna permission to
conduct the blast "when there was an interdict".

 

On 24 August, acting judge Kobus Miller ordered Mashuna to stop mining
activities pending the "decision of the second respondent (Mufeti) in
respect of section 42 of the Environment Management Act".

 

Naobes says they had written to the executive director, the Kunene governor
and the minister of environment, to give them an idea of what is happening
on the ground.

 

"The area in question had been officially withdrawn from mining for
environmental reasons. Despite this status, the environmental commissioner
issued an ECC," she says.

 

Naobes says the conservancies will lose income if mining operations
continue.

 

Natural resources manager of Doro !Nawas Don Andrew says he is not against
mining, but is opposed to Goantagab mine because it is in an area designated
for wildlife.

 

"The ministry of environment designated different areas for different uses
and that area is not for mining," he says, adding that they were not
consulted over the reopening of Goantagab mine.

 

TIN HUNTERS

 

At the heart of the concerns is a long-standing feud between Goantagab tin
mining claim owners Mashuna and Otille Ndimulunde on one hand, and
conservation and tourism company Ultimate Safaris, Doro !Nawas and Uibasen
Twyfelfontein conservancies on the other.

 

Mashuna has confirmed conducting the blasting, saying they had obtained
authority to conduct the exercise.

 

"I was at the site and due diligence was conducted to ensure there were no
animals within the locality of the mine," he says.

 

He disputes the presence of endangered animals near the mine.

 

"If there were any animals, we were prepared to postpone the blasting to
ensure their safety."

 

Mashuna says the blasting exercise was witnessed by representatives of
tourism company Ultimate Safaris and committee members of Doro !Nawas and
Uibasen Twyfelfontein conservancies who strongly oppose the reopening of the
tin mine.

 

Ultimate Safaris managing director Tristan Cowley and the company's
spokesperson, David Bishop, could not be reached for comment. Mashuna says
he has done nothing wrong as he has used the correct channels in pursuit of
his mining venture.

 

"When I was interdicted, I stopped all mining activities at my claims,
despite losing a lot of money. I conducted the blasting after I had obtained
authority to do so," he says.

 

He also dismisses claims that he had sold his mining claims to Andrada for
US$15 million, saying the claims still belong to him although he had entered
an agreement to process his ore at Andrada mine "to reduce the noise
footprint at Goantagab".

 

This has been confirmed by Andrada spokesperson Josephine Clarklin who says
allegations that Andrada had bought Goantagab are not true.

 

"Andrada reached an ore supply agreement with Goantagab in June with an
option to buy in the future. Goantagab still belongs to its original
owners," she says.

 

Seibeb urges Ultimate Safaris to engage with Mashuna to find a solution that
will accommodate mining and tourism.

 

He says the Dâure Daman Traditional Authority, under whose jurisdiction
Sorris Sorris and Goantagab mine fall, wants tourism and mining to co-exist.

 

"Young people in my community are unemployed and it is unacceptable for me
as a leader to oppose projects that can bring gainful employment for my
people," the chief says.

 

Speaking at the Africa Keystone Protected Area Partnership Reception, held
on the sidelines of the United Nations General Assembly, president Netumbo
Nandi-Ndaitwah highlighted Namibia's strong record on conservation.

 

"Today, over 46% of Namibia's land is under conservation. This includes
national parks, communal conservancies, community forests and tourism
concessions. It is a remarkable achievement, made possible only because
Namibians believe in the co-existence of environment protection and
development as at the heart of our conservation efforts," she said last
week.

 

Read the original article on Namibian.

 

 

 

 

 

 

Namibia's Economy Grows to N$64.8b in 3 Months

In the last three months (between April and June) the size of the country's
economy grew to N$64.8 billion.

 

This is N$6 billion more than the same quarter last year.

 

However, there has been a slowdown in growth due to a decline in
manufacturing, fishing and agriculture.

 

According to the latest Bank of Namibia quarterly report, the year-on-year
real growth rate slowed to 1.6% in the second quarter of 2025 from 3.3%
recorded in the second quarter of 2024 and 2.8% in the first quarter of
2025.

 

"The weaknesses were observed in manufacturing, fishing and fish processing
on board, and agriculture, which registered contractions during the period
under review," says the report.

 

 

The report shows that among the primary industries, only mining managed to
record growth. This was primarily from uranium.

 

On the other hand, the manufacturing industry struggled, with the blister
copper, and diamond cutting and polishing sectors performing poorly.

 

However, other secondary industries such as electricity, water and
construction also had some growth.

 

The tertiary industries maintained a steady performance, with growth in the
wholesale and retail trade, education and finance sectors.

 

On the inflation front, the country recorded a decline in inflation for the
last three months mostly due to a slowdown in transport inflation.

 

This can be attributed to the prices of fuel which have remained steady for
over four months.

 

 

"Namibia's annual inflation declined both quarter on quarter and year on
year during the second quarter of 2025, with headline inflation falling to
3.6% from 3.7% in the previous quarter.

 

This disinflationary trend was mainly reflected in a steep contraction in
transport inflation," says the report.

 

However, food and housing saw an increase in prices.

 

In the financial sector, broad money supply growth slowed with a decline in
both net foreign assets and domestic claims.

 

"Annual growth in the broad money supply slowed to 7.6% at the end of the
second quarter of 2025, compared to 10.1%. The overall cash holdings of
commercial banks declined, largely due to corporate tax payments at the end
of the quarter," says the report.

 

However, private sector credit extension increased from 5% to 5.7%

 

This was mainly from a rise in credit demand in the real estate sector, and
a more accommodative monetary policy rate which stood at 6.75%.

 

Read the original article on Namibian.

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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

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

 


 

 


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