Major International Business Headlines Brief ::: 21 October 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  21 October  2025 

 


 


 


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ü  Kenya Enacts Law Imposing Sh20mn Fine for Cybercrimes

ü  Africa: Education Leaders To Convene in Accra to Shape Africa's Learning
Future

ü  Rwanda: Pension, Maternity Leave, Medical Insurance Laws Set for Review

ü  Nigeria: Govt Reaffirms Commitment to Railway Workers' Housing Needs

ü  Nigeria: NNPC Rakes in Over N800bn From 30% Management Fee, Frontier Fund
in Nine Months

ü  Nigeria: Only 10 of 26 Power Plants Supplied 81% of Nigeria's Electricity
in September - NERC

ü  Africa: $31 Trillion Debt Is Holding Back Developing Countries, UN Trade
Summit Hears

ü  Africa's Voice in Tobacco Control - Imported solutions and policies don't
fit Africa's needs

ü  Liberia's Mineral Corridor Gains Strategic Attention From Washington

ü  Africa: G20 South Africa Poised to Catalyze Industrial, Creative, and
Trade Transformation Across the African Continent

ü  Liberia: CDC Headquarters Construction Begins

ü  Liberia: U.S.$770m Fake Debts

ü  Africa Must Be Included in Global Digital, AI Revolution - - Elumelu

ü  Africa: AfDB Pledges to Offer a Tanzanian Bank a 60 Million U.S. Dollar
Grant

ü  Africa: Ethiopia Reaffirms Commitment to Advancing Peace, Stability in
Africa

ü  Nigeria: ASUU Strike - NLC Declares 'No Pay, No Work'

 


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Kenya Enacts Law Imposing Sh20mn Fine for Cybercrimes

Nairobi — Individuals found guilty of cyber harassment or other online
offences in Kenya now face fines of up to Sh20 million or a jail term of up
to ten years under a new law signed by President William Ruto.

 

The Computer Misuse and Cybercrimes (Amendment) Act, 2024, signed into law
on October 15, strengthens the 2018 legislation by introducing tougher
penalties for offences such as cyber harassment, identity theft, phishing,
and data breaches.

 

Under the amended Section 27, offenders convicted of cyber harassment are
liable to a fine not exceeding Sh20 million, a prison sentence of up to ten
years, or both.

 

The law also broadens the definition of cyber harassment to include online
communication that causes psychological harm or could lead a person to
contemplate suicide.

 

It further empowers the National Computer and Cybercrimes Coordination
Committee (NCCCC) to direct internet service providers to block access to
websites, applications, or pages promoting unlawful activity, even without a
court order.

 

Authorities say the new provisions are aimed at curbing the surge in online
fraud, harassment, and harmful digital content.

 

However, the law has sparked debate over its potential impact on online
freedom of expression and media operations guaranteed under Articles 33 and
34 of the Constitution.

 

Read the original article on Capital FM.

 

 

 

 

Africa: Education Leaders To Convene in Accra to Shape Africa's Learning
Future

Accra, Ghana — Regional, continental, and global education leaders,
partners, and innovators gather in Accra to articulate a fresh direction for
education and skills development in Africa

 

The Association for the Development of Education in Africa (ADEA) and the
Government of Ghana, through the Ministry of Education, are convening a
crucial conversation on the direction of Africa’s education and training
sector. The 2025 ADEA Triennale on Education and Training will take place in
Accra, Ghana, at the scenic Labadi Beach Hotel from October 29th to 31st,
2025, under the theme “Strengthening the resilience of Africa’s educational
systems: Advancing towards ending learning poverty by 2035 with a
well-educated and skilled workforce.” This edition of the Triennale is
following a rich history of crucial dialogues at critical moments in
Africa’s education and development journey. It builds on a rich legacy of
previous editions in Ouagadougou, Burkina Faso in 2012, Dakar, Senegal in
2017, and Mauritius in 2022.

 

 

This Triennale will be the most important and consequential conversation on
Africa’s education and training systems in recent history. Taking place amid
shifting global priorities including declining official development
assistance. The event comes at a pivotal moment as the continent resets its
education agenda and charts a pathway towards sustainable, resilient, and
self-reliant educational systems.

 

The event will be officially opened by His Excellency John Mahama, President
of the Republic of Ghana, and will feature high-level plenary dialogues on
education financing; foundational learning; school leadership and teacher
professional development; education technology; data-driven decision-making
in education; gender, inclusion, and climate adaptation; higher education
and research; and secondary education and technical and vocational skills
development (TVSD). It will dedicate a special session on “Financing
Education in Africa,” exploring innovative domestic and blended financing
mechanisms to sustain learning outcomes and strengthen institutional
accountability. This session will feature deep insights from Africa’s
private sector.

 

 

The Triennale will bring together policymakers and senior government
officials across Africa, alongside global, continental, and regional leaders
in education, philanthropy, and development. Confirmed high-level
participants include 26 African Ministers in charge of Education and
Training,  Prof. Gaspard Banyankimbona, African Union’s Commissioner for
Education, Science, Technology and Innovation; Prof. Peter Materu, Chief
Program Officer at the Mastercard Foundation; Dr. Benjamin Piper, Global
Director of Education at the Gates Foundation; Dr. Pia Rebello Britto,
UNICEF Director of Education and Adolescent Development; His Excellency,
Serigne Thiam, High-level Envoy to the Global Partnership for Education
(GPE); Mr. Anders Holm, CEO of the Hempel Foundation.

 

 

The event will convene nearly 1,000 in person and virtual
participants—including researchers, civil society leaders, and youth
voices—serving as the premier continental platform for dialogue, peer
learning, and partnership. It will set the tone for Africa’s education
priorities in the coming decade, aligning with the African Union’s Decade of
Education (2025–2034), the new continental frameworks such as the
Continental Education Strategy for Africa 2026-2035 (CESA 26 – 35), the
Continental TVET Strategy 2025-2034, and the Continental Science,
Technology, and Innovation Strategy for Africa (STISA 2034). It will also
explore how education can take advantage of the opportunities offered by
instruments such as the Africa Continental Free Trade Area (AfCFTA), towards
the realization of the vision of ending learning poverty in Africa by 2035,
the aspirations of African Union’s Agenda 2063, and the targets of the UN
Sustainable Development Goal Four (SDG-4). The recommendations from the
event will contribute to ensuring that the continent with the world’s
youngest population is equipped with the skills needed to thrive in the
Fourth Industrial Revolution.

 

“This Triennale is not just another conference—it is Africa’s moment to lead
its own education transformation agenda, "said  Albert Nsengiyumva,
Executive Secretary of ADEA. “We are bringing together the boldest leaders
and the brightest minds to shape a future where African education systems
are more resilient, inclusive, and globally competitive and attuned to our
skills and development needs.”

 

According to Ghana’s Minister of Education, Hon Haruna Iddrisu; MP, “Ghana
is honoured to host this pivotal dialogue, bringing together ministers,
senior policymakers, researchers, and partners from across Africa and
beyond. This is a moment to share bold ideas and proven innovations that are
reshaping education on our continent. We aim to confront challenges head-on,
turn them into opportunities, forge strategic partnerships, and commit to
concrete actions that will accelerate learning for millions of African
children — and drive the renaissance of education in Africa.”

 

Through evidence-based discussions and shared accountability, the 2025 ADEA
Triennale aims to inspire actionable commitments that will strengthen
African educational systems, build institutional resilience, and align
skills development with the demands of a rapidly changing global economy.

 

What stakeholders and partners are saying

 

Dr Conrad Sackey, Minister of Basic and Senior Secondary Education, Sierra
Leone  

 

“The ADEA Triennale is an essential platform for shaping the future of
education across Africa. It allows us to align our efforts and turn shared
commitments into real progress. Through this dialogue, we can build the
resilient and inclusive education systems our children deserve. For Sierra
Leone, I look forward to outcomes that will strengthen our work in
foundational learning and skills development which are key pillars of our
national education agenda.”

 

Hon. Douglas Syakalima, Minister of Education, Zambia  

 

“The Government of the Republic of Zambia, under the leadership of President
Hakainde Hichilema, Champion of Foundational Learning in Africa, has placed
high priority on ending learning poverty through strong investments in Early
Childhood Education (ECE). With thousands of trained teachers deployed, new
ECE Hub centres and ECE Satellite centres under construction, and ongoing
efforts to digitalize ECE data management, Zambia is reforming its education
system to equip every learner with the competencies needed for national
development. The ADEA Triennale offers us a valuable opportunity to share
our progress, learn from others, and strengthen our collective drive toward
quality foundational learning for all.”

 

Prof. Peter Materu, Chief Program Officer, Mastercard Foundation emphasized
the importance of secondary education as the most effective pathway in
enabling access to dignified   and fulfilling work for young people in
Africa.

 

“ Africa’s young people are the most important asset that the continent has,
now and for a long time to come. To unlock that potential, we must
strengthen secondary education. There is ample evidence to show that
completing twelve years or equivalent of education not only leads to
improved livelihoods for individuals but also has multiple knock-on effects
on socio-economic development. This is especially true for young women.  To
get this right, communities, governments, educators, and the private sector
ought to work together to make education more inclusive, relevant, and
connected to work   so as to   create pathways for   millions of young
people to thrive. This Triennale offers an important opportunity to turn
this shared vision into shared   action.”

 

His Excellency, Serigne Thiam, High-Level Envoy, Global Partnership for
Education

 

“ The ADEA Triennale is an opportunity to reimagine education delivery on
the continent. At the Triennale, governments and partners are shaping the
transformation agenda that will define our Africa’s future. For GPE, this
dialogue is essential. We are here to champion stronger sustainable
financing and ensure every child’s learning is at the heart of Africa’s
development story .”

 

About ADEA

 

The Association for the Development of Education in Africa (ADEA) serves as
a critical voice and a forum for policy dialogue on education in Africa.
Hosted by the African Development Bank (AfDB) Group in Abidjan, Côte
d'Ivoire, ADEA envisions a "high-quality African education and training
geared towards the promotion of critical skills for accelerated and
sustainable development in Africa." We act as a catalyst in promoting
innovative policies and practices by pooling ideas, experiences, learning,
and knowledge. The anticipated impact of ADEA's work is African countries
that are empowered to transform schooling into learning, contributing to
Africa's sustainable social and economic transformation.

 

About the Ministry of Education, Ghana

 

The Ministry of Education Ghana was established in 1957 to formulate and
coordinate education policies, set standards, and monitor and evaluate their
implementation. The Ministry, supported by its agencies such as the Ghana
Education Service, the Technical Vocational Education and Training (TVET)
Service and the National Council for Curriculum and Assessment (NaCCA) works
to ensure that quality education is accessible to all Ghanaians to support
human capital and national development. We believe education is the ultimate
game changer and opens many doors of opportunity and promise. We are
committed to preparing all Ghanaians for success in the world of work. We
achieve this by developing an educational system that focuses on promoting
problem-solving, creativity, and building critical skills through academic,
technical, and vocational programs.

 

 

 

 

Rwanda: Pension, Maternity Leave, Medical Insurance Laws Set for Review

Laws governing pensions, maternity leave benefits, and medical insurance are
set for review by the end of 2026. The aim is to expand coverage to informal
workers and address enrolment challenges faced by small or unregistered
employers, according to the Minister of Public Service and Labour, Christine
Nkulikiyinka.

 

Nkulikiyinka made the remarks on Monday, October 20, during a session of the
Senate Committee on Social Affairs, where senators met with her to assess
efforts to improve the welfare of the elderly.

 

"It is planned that by the fourth quarter of 2026, new laws and regulations
will have been established to expand the pension programme so that it
reaches all categories of workers," she stated.

 

 

The ministry, she said, is currently conducting consultative meetings on
pension plans for informal workers, maternity leave benefits, and health or
occupational hazard insurance.

 

"These consultations aim to ensure that we fully understand the changes
needed and the challenges people face, so that the revised regulations
provide informed solutions," she indicated.

 

ALSO READ: Maternity leave benefits scheme digitised, employers urged on
compliance

 

The minister said that the review will also look into how to simplify the
registration of informal and seasonal workers with the Rwanda Social
Security Board (RSSB).

 

Informal workers make up about 90 percent of Rwanda's workforce, meaning
that expanding pension, medical, and maternity benefits to them is
essential, Nkulikiyinka observed.

 

 

"It is necessary that we use all available means to ensure every Rwandan
with some form of employment has social security coverage and can secure a
source of livelihood during retirement."

 

Aligning contributions with workers' capacity, nature of employment

 

Rwanda's informal sector is largely composed of unregistered businesses
without formal records or contracts. Workers in this sector often lack job
security, stable income, and access to social security benefits such as
pension and health insurance.

 

In contrast, the formal sector, though smaller, consists of registered and
taxed businesses that offer regulated employment, contractual stability, and
access to social security benefits including pensions and maternity leave.

 

Currently, Nkulikiyinka said, it is difficult for seasonal or irregular
workers to register with RSSB because contribution payments are structured
on a monthly basis.

 

 

"For example, an artist who performs only three concerts a year may have
income they wish to save for social security or pension, but the system
currently requires fixed monthly contributions," she said.

 

This, she added, is why the government is seeking ideas on how to reform the
laws and regulations so that everyone can access social security coverage,
regardless of employment type or income pattern.

 

ALSO READ: Rwanda's long-term savings scheme gets merit certificate from
ISSA

 

The minister stressed the need to review legislation on contribution
requirements to make them more flexible and aligned with the realities of
Rwandans' diverse employment situations.

 

"We will continue to work with our partners to ensure that these reforms are
meaningful and address the identified challenges," she said.

 

ALSO READ: Increasing pension benefits will offset effects of inflation -
retirees

 

Using technology to ease registration

 

Among the reforms being considered is the use of technology to simplify
registration and contribution payments.

 

"We want to make it possible for employers to register and pay contributions
using their phones, without having to visit RSSB offices," Nkulikiyinka
explained.

 

She also mentioned plans to review current requirements for joining RSSB's
medical scheme (RAMA), which currently allows private employers to enrol
only if they have at least seven employees on their payroll.

 

According to RSSB, all public employees are automatically enrolled in the
medical scheme.

 

"We are looking at such aspects to make it as easy as possible for everyone
who has the means and willingness to join RSSB to do so," Nkulikiyinka said.

 

On the issue of non-compliance in the informal sector, she noted that labour
inspectors are present in all districts to ensure that employers respect
workers' rights, including providing written contracts and timely payment of
wages.

 

By law, an employer must issue a written contract of employment exceeding 90
days.

 

Failure to do so, or to pay workers as required, attracts due legal
penalties.

 

Nkulikiyinka added that her ministry is also working with cooperatives and
small business associations to help members make collective pension
contributions to RSSB. Group registration, she said, makes mobilisation
easier and increases participation in social security schemes.

 

"Having written contracts, timely payments, and regular social security
contributions will ensure workers' rights are respected and contribute to
their welfare in retirement," she emphasized.

 

Senator Adrie Umuhire, Chairperson of the Committee on Social Affairs and
Human Rights, said the reforms aim to ensure that all elderly citizens live
dignified lives and are not left dependent on government support.

 

"To achieve this, people must prepare for retirement early through savings
and social security contributions while they are still earning," she said.

 

Umuhire welcomed the ministry's efforts to regulate the informal sector,
which employs many Rwandans, noting that issues such as lack of written
contracts and delayed payments remain widespread.

 

All workers deserve protection and fair treatment, she pointed out.

 

"It is essential for them to have written contracts and to be paid on time
for the work they have done. Additionally, it's important to verify whether
pension contributions are being made to RSSB on their behalf [so they can be
entitled to a pension upon retirement]," she said.

 

Umuhire also encouraged payment through financial institutions, highlighting
that such systems offer benefits like access to loans and stronger
accountability.

 

Nkulikiyinka said her ministry will continue consultations with relevant
entities, experts, and beneficiaries to better understand existing
challenges and craft effective solutions.

 

Read the original article on New Times.

 

 

 

Nigeria: Govt Reaffirms Commitment to Railway Workers' Housing Needs

Minister of Housing and Urban Development, Ahmed Dangiwa, has played host to
the leadership of the Nigerian Railway Corporation (NRC) workers union on a
visit to his office in Abuja.

 

The minister, in his remarks, reiterated the commitment of the federal
government to providing affordable housing for Nigerian workers, including
staff of the NRC, a statement from the Director of Press and Public
Relations, Badamasi Haiba, said.

 

Dangiwa commended the union for the visit and for prioritising the welfare
of their members through advocacy for home ownership, noting that under the
administration of President Bola Tinubu, the ministry is determined to
ensure that every committed Nigerian worker has access to decent and
affordable housing before retirement.

 

"Our goal is to make home ownership a reality for all categories of workers,
including those in the Nigerian Railway Corporation. No worker should retire
without a roof over their head," the minister said.

 

He further directed the leadership of the union to compile and submit a
comprehensive list of its members of staff interested in the housing
opportunities under any of the ministry's housing programmes for proper
consideration.

 

Earlier, the Chairman of the NRC Workers Union, Kazeem Yusuf, informed the
minister that the purpose of the visit was to seek collaboration with the
ministry in securing housing allocations for railway workers in Abuja and
other major cities.

 

Read the original article on This Day.

 

 

 

 

 

Nigeria: NNPC Rakes in Over N800bn From 30% Management Fee, Frontier Fund in
Nine Months

Abuja — The Nigerian National Petroleum Company Limited (NNPC) has reported
a combined N801.3 billion from Management Fees and Frontier Exploration
Funds within the first nine months of 2025, representing 56.5 per cent of
the N1.42 trillion budgeted for both streams this year.

 

The data, drawn from the company's September 2025 revenue and distribution
report to the Federation Accounts Allocation Committee (FAAC), indicated
that each of the two categories recorded N400.667 billion in the period
under review.

 

Both items are derived from 30 per cent apiece of the profit oil and gas
under the Production Sharing Contract (PSC) arrangements.

 

 

While the figures suggested modest progress, they also exposed a significant
shortfall against projections as each of the two lines showed a variance of
N264.4 billion below expectation for the first three quarters of the year,
reflecting the wider fiscal pressures confronting the oil and gas sector
despite production recovery efforts.

 

The NNPC management fee, a charge representing the corporation's entitlement
from managing PSCs on behalf of the federation, recorded a variance of
N132.233 of its annual projection. The same applied to the frontier
exploration fund, a dedicated pool for financing hydrocarbon search and
development in underexplored or virgin basins across the country.

 

However, the N801.3 billion combined inflow nonetheless signalled a measure
of consistency in upstream cash generation through PSCs, which have become
the backbone of Nigeria's crude output in recent years.

 

Besides, a breakdown of the NNPC report to FAAC showed that year-to-date the
company distributed N1.335 trillion from PSC operations to FAAC over the
nine-month period, against an annual budget of N2.368 trillion.

 

 

This translated to 56.3 per cent performance, leaving a deficit of over N440
billion in the nine months under consideration. Out of this, 30 per cent
went to NNPC's management fee, another 30 per cent to the frontier
exploration fund, and the remaining 40 per cent as the federation's direct
share.

 

This means that for every N100 earned from PSC profits, N30 was retained by
the company as its management entitlement, N30 was set aside for frontier
exploration, and N40 was remitted into the federation account.

 

However, the pace of remittance highlights the slow rebound of Nigeria's
upstream output and the continued gap between target and actual production.
Average crude oil output in 2025 has hovered around 1.6 million barrels per
day, below the official benchmark of 2.06 million bpd in the country's
budget for this year.

 

The frontier exploration fund, in particular, continues to attract attention
given its strategic role in expanding Nigeria's reserve base. Statutorily,
it is managed by NNPC to finance exploration in frontier basins such as the
Chad, Bida, Sokoto, Dahomey, and Benue troughs.

 

The N400.6 billion mobilised for that purpose so far is expected to support
seismic and appraisal activities in those basins through the final quarter
of the year, although issues remain as to the deployment of these funds.

 

The NNPC's September FAAC snapshot further showed that the Federation's 40
per cent PSC share amounted to N710.52 billion for the nine months, while
total PSC distribution stood at N1.776 trillion.

 

With three months left in the fiscal year, NNPC faces the challenge of
closing the gap between budget and actual inflows. If current trends
persist, the company may end 2025 with roughly half of what was projected at
the start of the year.

 

Besides, whether the last quarter's performance will tilt the balance closer
to target will depend largely on stability in production, crude prices, and
continued efficiency in PSC administration.

 

Read the original article on This Day.

 

 

 

 

 

 

Nigeria: Only 10 of 26 Power Plants Supplied 81% of Nigeria's Electricity in
September - NERC

Abuja — Nigeria's electricity supply in September 2025 remained heavily
concentrated among a handful of generation stations, with just 10 of the 26
grid-connected power plants accounting for 81 per cent of total energy
produced during the month.

 

This is according to the latest Operational Performance of Power Plants
factsheet released by the Nigerian Electricity Regulatory Commission (NERC).

 

The report paints a picture of a power sector still struggling with uneven
performance, with only a few plants driving the bulk of generation while
several others contributed little or nothing.

 

 

Out of a total installed capacity of 13,625 megawatts (MW), only 5,200MW was
available on average, representing just 38 per cent plant availability.
Despite this low figure, the national load factor stood at 78 per cent,
showing that plants in operation were generally running close to their
generation potential.

 

Leading the pack was Zungeru Hydro, which operated at full capacity, posting
a 100 per cent plant availability factor but only managing a 51 per cent
load factor, generating 355 megawatt-hours per hour (MWh/h). Egbin, the
country's largest thermal station, followed with a strong 90 per cent load
factor and an average hourly generation of 546MWh/h, despite a plant
availability rate of only 46 per cent.

 

Other top performers included Kainji (91 per cent load factor), Jebba (73
per cent), Delta (83 per cent), Shiroro (68 per cent), Ihovbor (86 per
cent), Okpai (87 per cent), Geregu (86 per cent), and Afam II (99 per cent).
Together, these 10 plants, a mix of hydro and gas-fired stations, formed the
backbone of national electricity generation in September.

 

 

Among the lower-tier plants, the performance was more uneven, as Olorunsogo
II, with an installed capacity of 750MW, achieved only 26MW average
availability, translating to a dismal 3 per cent availability factor and 37
per cent load factor. Similarly, Sapele Steam (720MW) operated at just 3 per
cent capacity, though its 100 per cent load factor suggested that the little
power it produced was consistently dispatched.

 

By contrast, Odukpani, with 625MW installed capacity, stood out among the
smaller contributors, achieving 29 per cent availability and a remarkable 97
per cent load factor, generating 177MWh/h. Afam I also delivered 72 per cent
load factor on limited available capacity.

 

Some plants contributed nothing to the grid. Alaoji I, with 500MW installed
capacity, recorded zero generation and availability. Rivers I, Omoku I, and
Ikeja I also posted minimal or zero outputs.

 

The data underscored the fragility and imbalance in Nigeria's generation
mix. While a few well-maintained stations such as Egbin, Kainji, and Delta
1, continue to sustain national supply, several others remain idle due to
gas shortages, mechanical faults, or transmission constraints.

 

In total, the grid generated an average of 4,091MWh/h in September. However,
with less than 40 per cent of total capacity actually available, the system
continued to underperform relative to its potential.

 

Read the original article on This Day.

 

 

 

 

Africa: $31 Trillion Debt Is Holding Back Developing Countries, UN Trade
Summit Hears

Holding the line on the existing rules-based international trading system
remains an essential challenge if the world is the keep a damaging tariff
war at bay, a top UN trade official said on Monday.

 

Addressing the UN Trade and Development (UNCTAD)'s 195 Member States in
Geneva, Rebeca Grynspan said that 72 per cent of global trade "still moves
under WTO rules" - a reference to the World Trade Organization, whose
agreements are negotiated and signed by trading nations.

 

"We have for now avoided the domino effect of tariff escalation that once
brought the world economy to its knees in the 1930s," Ms. Grynspan told
UNCTAD members gathering in Geneva to continue efforts to lift millions out
of poverty through trade.

 

 

"This didn't happen by accident, it happened because of you, because you
kept negotiating when it seemed pointless, defending a rules-based system
even as you were to reform it, and building bridges even when they fell."

 

 

'Impossible choices'

 

The UNCTAD chief's comments follow months of global economic uncertainty
amid declarations of tariff impositions on trading partners of the United
States.

 

In recent comments, Ms. Grynspan said that rising tariffs, record debt
repayments by heavily indebted nations and growing mistrust, were all
halting development.

 

"A debt and development crisis is still facing countries with impossible
choices," she said. "They have to decide: to default on their debt or on
their development."

 

Tariffs applied by major economies, including the United States, have jumped
this year from an average of 2.8 per cent to more than 20 per cent, Ms.
Grynspan recently told the UN General Assembly. "Uncertainty is the highest
tariff possible," she said, adding that it "discourages investment, slows
growth and makes trade as a path to development much harder".

 

 

Investment drying up

 

In Geneva, the UNCTAD top economist warned that global investment flows are
retreating for the second year in a row, "eroding tomorrow's growth".

 

At the same time, today's investment system favours projects in richer
economies rather than developing nations, she continued, with one-off costs
responsible for making one US dollar "three times more expensive in Zambia
than in Zurich".

 

Ms. Grynspan also stressed that freight costs are now "too volatile" with
landlocked countries and small island developing states hit with transport
bills "up to three times the global average".

 

And while AI offered the prospect of adding "trillions" to global GDP, the
UNCTAD Secretary-General added that fewer than one in three developing
countries have strategies to capture its benefits. A staggering 2.6 billion
people remain offline, most of them women in developing countries, UN data
indicates.

 

Public debt crisis

 

Echoing Ms. Grynspan's concerns, the President of the General Assembly,
Annalena Baerbock, warned that developing country debt reached $31 billion
last year.

 

This meant that instead of being able to invest in their people's future "by
building more schools or expanding healthcare facilities, many governments
are instead spending precious funds on servicing debt."

 

Trust in the international system is also "eroding", the UN General Assembly
President continued. She noted that even though the global economy is worth
more than $100 trillion a year, one in two people have seen "little or no
rise in their income for a generation."

 

Read the original article on UN News.

 

 

 

 

 

 

 

Africa's Voice in Tobacco Control - Imported solutions and policies don't
fit Africa's needs

Across the world, countries are racing to become “smoke-free”, and some have
already made remarkable progress. Sweden, for example, recently announced
that only around 4.5% of its population still smoke cigarettes — the lowest
reported rate in Europe.

 

Their success has been celebrated as a model for others to follow. However,
beneath the applause lies a crucial question that we all need to think
about: can African nations truly copy Sweden’s playbook and expect the same
results?

 

 

Sweden’s triumph came largely through innovation. The Swedes developed
commercial snus  — a moist or dry, smokeless tobacco ball or pouch placed
under the lip and absorbed through the gums. It was inspired by an age-old
tradition that was modernized and elevated for broad consumer use. It
doesn’t involve smoke, ash, or spitting, and for many Swedes, it has become
a socially acceptable alternative to cigarettes. As a result, rates of lung
cancer and other smoking-related diseases have dropped dramatically.

 

 

This story is inspiring, yes — but it is also deeply Swedish. Snus fits
naturally into the Swedish lifestyle and culture. It’s regulated, trusted,
and accessible within a strong public health system. The problem arises when
this model is exported, packaged as a ready-made solution for other nations,
including those in Africa. What works in Stockholm may not work in Nairobi,
Dakar, or Harare.

 

Imported Solutions, Local Realities

 

In recent years, some African countries have tried to replicate elements of
Western harm reduction strategies. Kenya, for instance, has made great
progress through strong tobacco laws, public education, and taxes that make
cigarettes much less accessible. Smoking has fallen to under eight percent
of adults — a major achievement for a country that once had nearly double
that rate.

 

 

But newer nicotine products, like imported pouches and vapes, have entered
the market without proper regulation. They’re being sold as ‘safer
alternatives,’ echoing Sweden’s success with snus, yet their safety,
quality, and long-term impact in African contexts remain uncertain.
Moreover, many people simply don’t trust them. They feel foreign and out of
place in cultures where smoking is already viewed with suspicion or stigma.

 

Africa’s challenge isn’t only about what to use, but how and why. A solution
that fits one culture cannot simply be copied into another. Tobacco harm
reduction is not a one-size-fits-all issue; it is deeply rooted in identity,
economy, and tradition.

 

The Danger of the “One Africa” Mindset

 

Too often, the African continent is treated as a single, homogenous entity —
as if one approach could solve the problem for over 50 diverse nations. But
Africa does not have one story. From the bustling streets of Cape Town to
the rural communities of Malawi, tobacco use carries different traditions,
meaning and challenges.

 

 

In some areas, smokeless products might be acceptable but unaffordable due
to taxes being as high as cigarettes. In others, they may clash with
cultural or religious norms. In communities where misinformation about harm
reduction is widespread, the first step might not be introducing products at
all. It might be education, delivered in languages and ways that resonate
with local people.

 

If we fail to recognise these differences, we risk replacing one imported
idea with another — a ‘continental’ strategy that looks good on paper but
fails in practice.

 

Health Sovereignty: Building from Within

 

Finding Africa’s own path in Tobacco Control and tobacco harm reduction is
not about rejecting Western models. It’s about reclaiming our sovereignty
and the right to design solutions rooted in our national realities. Africans
are more than capable of creating innovative, science-based approaches to
public health. However the space, trust, and support to do so is required.

 

Imagine if African scientists, entrepreneurs, and communities were afforded
an enabling regulatory environment to collaborate in designing tobacco harm
reduction products that reflect local culture, taste, and economics.
Products that are safer, regulated, and made for African lifestyles, that
are able to replace combustible cigarettes over time. Imagine if policies
were crafted region by region, not copied from abroad but grown from within
through research, consultation, and community participation. Tobacco harm
reduction in Africa could be tackled more holistically by working from the
roots of dependency and not just the symptoms couched in global practices.

 

Africa must not be left behind

 

Africa can and should learn from the world — from Sweden’s pragmatism, the
UK’s harm reduction model, or even New Zealand’s smoke-free policies — but
learning is not the same as imitating. We must adapt global lessons into
local wisdom.

 

That means investing in local research, training policymakers who understand
both science and culture, and ensuring that local media tells African
stories about tobacco, not just recycled headlines from elsewhere. It also
means protecting public health policy from the influence of the many key
players in the global tobacco industry, who continue to see Africa as their
next big market for perpetuating combustible cigarettes.

 

If African nations do not move to differentiate combustible cigarettes from
risk reduced products they will surely be left behind with an ever-growing
burden of non-communicable diseases, wasting critical resources that should
be directed towards the ongoing battle with deadly communicable diseases.

 

A Call to Courage and Creativity

 

Africa’s future in Tobacco Control will not be built in European
laboratories or American boardrooms. It will be built in African
universities, health ministries, and community halls — by people who
understand that health sovereignty is part of political sovereignty.

 

Africans have the creativity, knowledge, and lived experience to design what
the next phase of tobacco harm reduction looks like — not just for Africans,
but for the world. The question is no longer whether African nations can
follow in others’ footsteps, but whether Africa is ready to lead with
homegrown policies and solutions.

 

References

 

Global State of Tobacco Harm Reduction (GSTHR), Kenya Country Profile
(2024).

The Star Kenya, Kenya gains in war on tobacco but losing to nicotine pouches
– WHO (2024).

World Health Organization (AFRO), Kenya leads global World No Tobacco event
(2023).

Harm Reduction Journal, Snus: a compelling harm reduction alternative to
cigarettes (2019).

Swedish Public Health Agency, Use of tobacco and nicotine products (2024).

 

 

 

 

 

 

 

Liberia's Mineral Corridor Gains Strategic Attention From Washington

The iron ore corridor from Guinea to Liberia's Port of Buchanan is coming
into sharper focus as the United States pushes to secure reliable access to
critical minerals -- a strategic shift that could link the two West African
nations mineral corridor to America's next industrial resurgence.

 

In Washington, D.C. last week, U.S. Secretary of State Marco Rubio met with
Liberia's Foreign Minister Sara Beysolow Nyanti to discuss deepening
bilateral ties and expanding U.S. commercial engagement. According to
Principal Deputy Spokesperson Tommy Pigott, the two officials "explored
avenues for expanding U.S. participation in Liberia's critical minerals
sector with the aim of creating jobs and economic growth in both the United
States and Liberia."

 

This meeting essentially echoes sentiments from the meeting with President
Trump and President Boakai in July at the White House Summit.

 

Secretary Rubio, who is also the Statutory Chair of the Millennium Challenge
Corporation (MCC) Board, also commended the MCC for its ongoing support to
"U.S.-friendly infrastructure projects" -- a reference to Liberia's
strategic transport corridor, which is emerging as a key route in West
Africa's minerals logistics.

 

 

The discussions come at a moment when U.S. industrial policy -- shaped by
President Donald Trump's "America First" agenda and "from aid to trade"
Commercial Diplomacy approach-- is placing renewed emphasis on high-grade
iron ore, the essential feedstock for advanced steelmaking. As reported last
week in Newsmax, high-grade iron ore is "the forgotten material" at the
heart of America's manufacturing and defense base -- the same metal that
built the nation's railways, warships, and aircraft carriers, and remains
vital to modern energy infrastructure.

 

"Every shipyard, tank plant, and defense contractor in America relies on
high-quality steel that cannot be made from low-grade ore or recycled
scrap," in the article published by Newsmax, warning that U.S. defense
capacity could be "compromised in weeks" if high-grade ore supplies were
disrupted.

 

 

That warning has revived interest in projects like Liberia's Yekepa-Buchanan
rail corridor, which could help diversify U.S. access to premium-grade ore
while spurring Liberian economic growth.

 

Ivanhoe Atlantic, a U.S.-headquartered company chaired by former U.S.
Special Envoy to the Sahel, Dr. J. Peter Pham, recently signed a landmark
Access and Concession Agreement with the Government of Liberia -- a deal now
heading to the Liberian Legislature for ratification. The agreement grants
Ivanhoe the right to invest and access Liberia's Yekepa-Buchanan railway and
port system to transport high-grade iron ore from Guinea's Nimba Lola region
through Liberian territory to the Atlantic.

 

Dr. Pham, confirmed in a series of posts on X (formerly Twitter) that he and
CEO Bronwyn Barnes held "great meetings... updating the U.S. Government on
our American company's critical minerals and related infrastructure
investments in Guinea and Liberia," adding that they appreciated "the huge
support from across the entire administration under @POTUS," a reference to
President Trump.

 

 

Last week in Washington also saw meetings hosted by the US Africa Critical
Minerals Forum at the US Chamber of Commerce. Ivanhoe Atlantic's Bronwyn
Barnes along with the Guinean Minister for Planning and International
Cooperation, Ismael Nabe and other notable experts, were on a panel
discussing critical minerals supply chain. In an earlier post, Pham noted
that Ivanhoe's project "secures vital high-grade iron ore for America and
elevates the Guinean value chain," underscoring the strategic significance
of the U.S.-backed investment.

 

Under the signed agreement, Ivanhoe is expected to utilize the
Tokadeh-Buchanan rail corridor, invest in capacity expansion to move up to
30 million tonnes per annum (mtpa) after the company ramps up from an
initial phase 1 plan of 2 to 5mtpa, and construct improved handling and
marine logistics capabilities in the port of Buchanan to support its planned
operations.

 

The framework also introduces an independently operated multi-user rail
model that will transition to oversight by the National Railway Authority,
ensuring open and transparent access to Liberia's rail and port
infrastructure . The President just last week issued a new Executive Order
renewing the Rail Authority pending enactment of permanent legislation.

 

For Washington, Liberia's corridor is becoming more than a commercial link
-- it is a strategic supply route. As the Newsmax article observed,
"high-grade iron ore is the bedrock of America's strength," and both Canada
and the European Union have already classified it as a critical mineral.
China, meanwhile, consumes nearly 75 percent of the world's seaborne iron
ore and continues to secure deposits across Africa and South America,
intensifying global competition.

 

For Liberia, that competition translates into opportunity. The Boakai
administration views the transition to multiuser infrastructure as a
platform to modernize transport infrastructure, create jobs, and attract
diversified investments beyond iron ore -- including lithium, cobalt, and
other transition minerals essential to the clean energy economy.

 

Government officials have emphasized that the multi-user framework is
designed to serve not only Guinean ore producers but also Liberian mining
companies and future industries that will emerge along the corridor.

 

By aligning with U.S.-backed investments and governance reforms, Liberia is
positioning itself as both a critical minerals partner and a regional
transport hub. The challenge now lies in ensuring that this partnership
delivers tangible domestic benefits -- infrastructure, revenue, and
community development -- while strengthening the country's sovereignty over
its natural resources.

 

As one analyst put it, the Yekepa-Buchanan line could soon become more than
a railway. It could be the steel spine linking Liberia's economic future to
America's next industrial revival. Or, as the Newsmax article concluded,
"High-grade iron ore is not just another raw material. It is the bedrock of
our strength -- the foundation of the steel that built and still defends the
nation."

 

Read the original article on Liberian Observer.

 

 

 

 

 

Africa: G20 South Africa Poised to Catalyze Industrial, Creative, and Trade
Transformation Across the African Continent

As global attention increasingly shifts toward Africa's demographic and
economic rise, South Africa prepares to take center stage by hosting the G20
Leaders' Summit on November 22-23, 2025.

 

The event marks the culmination of South Africa's historic G20
Presidency--an unprecedented milestone as the first and potentially only
time an African nation will lead the influential global economic forum in
our lifetimes.

 

The significance of the moment is amplified by United Nations demographic
projections that place Africa at the heart of the world's future: the
continent is expected to be home to 25% of the global population by 2050,
and up to 40% by 2100. Africa will also contribute 85% of the growth in the
world's working-age population over the next 25 years.

 

 

Against this backdrop, the G20 South Africa Presidency is being seen as a
rare and powerful opportunity to advance a new economic and geopolitical
vision for the continent--one driven by industrial transformation, creative
economy expansion, and a reinvigorated push for intra-African trade.

 

Africa's potential is undeniable. The continent holds 30% of global mineral
reserves, 65% of the world's arable land, and a substantial portion of oil,
gas, and freshwater reserves. Yet it remains under-industrialized and
under-integrated into global value chains.

 

Experts agree that exponential technologies--those benefiting from rapid
cost declines and performance improvements--must be leveraged to build a
future-ready industrial base. These include innovations in Artificial
Intelligence (AI), advanced manufacturing, data science, and next-generation
supply chains.

 

 

Investments such as Cassava Technologies' $720 million AI infrastructure
initiative, Dangote Group's continent-wide industrial footprint, and
Rwanda's pursuit of universal electricity access by 2030 are early
indicators of what is possible when policy meets ambition and innovation.

 

Shifting Narratives Through Storytelling and the Creative Economy

 

For Africa to claim its place on the global stage, it must also redefine how
it is perceived--by its people and by the world. Storytelling, media, and
the creative arts are vital tools in shaping identity, attracting
investment, and inspiring innovation.

 

Creative industries are already showing promise. With initiatives like the
African Export-Import Bank's Creative Africa Nexus (CANEX), backed by $2
billion in funding, African creators are being empowered to build narratives
that unlock capital, drive cultural diplomacy, and ignite entrepreneurial
ambition.

 

 

As Sequoia Capital's Don Valentine once put it, "The money flows as a
function of the stories." Steve Jobs similarly emphasized, "The storyteller
sets the vision, values, and agenda of a generation." Africa's stories must
be told by Africans, about Africans, and for Africans--and the world must
listen.

 

AfCFTA: The Untapped Engine of Continental Trade

 

Despite its vast population, Africa contributes only a small share to global
GDP--just $2.8 trillion in 2025 compared to India's $4.2 trillion and
China's $19.2 trillion. A key barrier is the lack of intra-African trade.

 

The African Continental Free Trade Area (AfCFTA) presents a historic
opportunity to reverse this trend by reducing barriers to trade, harmonizing
regulations, and encouraging local value-added production. Political will
and private sector collaboration are essential to fully operationalize the
agreement and unlock its potential.

 

Moreover, the African diaspora must play a stronger role in investment,
innovation, and knowledge transfer, particularly in frontier sectors like
AI, green energy, and digital infrastructure.

 

Africa's youth may well be its most powerful asset. With a median age under
20 and growing connectivity, the continent is poised to become the world's
first AI-native region. As Mike Mpanya, founder of Nubi AI, aptly puts it,
"The keys to unlocking that future will not be designed in the East or West,
but by innovators on this continent."

 

Investing in African youth is not just a social imperative--it is a
strategic bet on the future of the global economy.

 

To capitalize on the momentum of the G20 South Africa Presidency, a series
of official side-events will be held in Johannesburg on November 19-20,
2025. Hosted by Time Africa, Arena Holdings, and the New York Africa Chamber
of Commerce (NYACC), these events will convene leaders from politics,
business, technology, media, and the arts for a continent-wide conversation
on Africa's economic transformation.

 

>From power and infrastructure to entrepreneurship and storytelling, the goal
is simple yet bold: to ensure Africa is no longer viewed as a passive
participant in the global economy, but as a vital, dynamic engine of growth
and innovation.

 

Read the original article on Nile Post.

 

 

 

Liberia: CDC Headquarters Construction Begins

The Standard Bearer of the Coalition for Democratic Change (CDC), former
President George M. Weah, has broken ground for the construction of the
party's new global headquarters, pledging that the project will symbolize
unity, resilience, and the party's enduring commitment to the Liberian
people.

 

Speaking at the groundbreaking ceremony, Weah expressed gratitude to
supporters, party leaders, and members of the construction committee,
promising that the new headquarters will be completed in record time. He
emphasized that while physical structures can be destroyed, the ideals and
spirit of the CDC remain unshaken.

 

 

"The CDC lives in our hearts and minds. You can break the bricks and the
walls, but we remain steadfast in our love and commitment to the ideals of
our dear institution," Weah declared to a cheering crowd.

 

Weah thanked Madam Clar Marie Weah, his wife and former First Lady, whom he
referred to as "Mother of the Blue Revolution," along with former Vice
President Jewel Howard-Taylor, the CDC Legislative Caucus, diaspora
representatives, clergy, and political party leaders who attended the event.

 

The CDC leader also commended Representative J. Fonati Koffa, Chairperson of
the Construction Committee and Deputy Speaker of the House of
Representatives, for his leadership in driving the project forward.

 

"This ceremony is a testament to our resolve to continue working for the
Liberian people, irrespective of political, social, or religious
affiliation," Weah said. "We are veterans, not destroyers. Let us remain
resilient, recalibrate, and work hard, because the people of Liberia depend
on us."

 

 

Weah assured the party's new host community of peaceful coexistence,
promising that the CDC would be a "good neighbor." He described the project
as both a physical and symbolic act of rebuilding after the party's previous
headquarters was demolished under the current administration, a move that,
according to him, strengthened rather than weakened the CDC's resolve.

 

For his part, Representative Koffa described the new headquarters as the
beginning of a "CDC complex" envisioned to become a center of leadership and
renewal for the party by 2029.

 

"On that fateful day when the government of Liberia destroyed our
headquarters, their intention was to erase this noble party from history.
But today, truth crushed to the earth will rise again," Koffa stated.

 

He said the new headquarters will stand as a symbol of perseverance and
hope, adding that the project's completion will mark a new era for the CDC
and its supporters both at home and abroad.

 

 

The party headquarters construction came following long-time negotiations
fallout with the Bernard family, which saw their 20 years of stay come to an
end.

 

This groundbreaking signals to multiple parties the importance of having
your own party headquarters instead of rental property. The Congress for
Democratic Change CDC), on August 23, 2025, experienced a bittersweet moment
following their progress in acquiring new land for its own.

 

It can be recalled that on August 13, 2025, the six-judge circuit court
ruled that the party should turn over the property comprising 4.2 acres of
land belonging to the Estate of Martha Stubblefield Bernard.

 

The ruling was followed by an eviction notice, which saw the Congress for
Democratic Change CDC being stripped out of their 20-year Headquarters with
a mass demolition on Saturday, August 23, 2025.

 

However, given the state of the party, it has become the first grassroots or
political party to have purchased its own land and is set to construct its
own party headquarters.

 

Providing details surrounding the total amount and value of the project, the
Chairperson of the HQ construction project, Grand Kru County Representative,
Rep. J. Fonati Koffa, said that the total cost of the project is about 1.5
million USD, and is set to be completed in the next six to at most 8 months.

 

The groundbreaking ceremony witnessed several opposition leaders, including
Senators, present. Namely Senator Thomas Yaya Namely of Grand Gedeh County,
Senator Edwin Melvin Snow of Bomi, Senator Bill Traway of River Cess County.

 

Others include, Representative Yekeh Kulubah of Montserrado County District
10, Representative Jacob Debee of Grand Gedeh County District 3, and senior
private citizens

 

At the event, former Vice President Dr Jewel Howard Taylor contributed
$5,000 United States Dollars, which was followed by the CDC Legislative
Caucus $100,000 USD. According to the Caucus Chair Senator Nathaniel McGill,
each member contributed $5,000 USD, with Montserrado County District 14
Representative Musa Kamara donating the sum of $15,000 USD, with several
other Partisans contributing both financially and materially.

 

As the ceremony concluded, Weah urged partisans to remain peaceful and
hopeful. "Go home safely," he told them. "Do not be confronted by people who
don't understand who you are. The CDC is the party of the people, and may
God bless Liberia."

 

The groundbreaking of the CDC Global Headquarters marks a new chapter for
the party, which continues to position itself for a political comeback ahead
of the 2029 elections

 

Read the original article on Liberian Observer.

 

 

 

 

 

Liberia: U.S.$770m Fake Debts

A comprehensive audit by the General Auditing Commission (GAC) has uncovered
massive irregularities in Liberia's domestic debt portfolio, revealing that
approximately US$770 million in claims dating back to 1980 are invalid or
unverified. The findings, detailed in a report released recently, paint a
stark picture of the country's long-standing challenges in public financial
management and debt accountability.

 

The audit, which reviewed a total of 1,083 domestic debt claims totaling
US$871,529,053 over a period of 44 years, found that only 133 claims --
equivalent to US$101,771,823 -- were properly verified and documented. In
stark contrast, 950 claims, amounting to US$769,757,230 or roughly 88% of
the total, were deemed invalid due to lack of documentation, inconsistencies
in records, and unverifiable information.

 

 

These findings have raised serious concerns about Liberia's domestic debt
management system, which experts say has been plagued by weak institutional
oversight, poor record-keeping, and systemic inefficiencies over decades.
The report highlights that many of the unverified claims involve alleged
payments to contractors, suppliers, and financial institutions, some of
which date back decades, yet have no legal or contractual basis to
substantiate the debt.

 

The GAC's report stresses that the accumulation of unverified domestic debt
poses significant fiscal risks to the Liberian government. If left
unaddressed, these claims could increase debt servicing costs, distort
budget planning, and undermine investor confidence in the country's economy.

 

"This audit is a wake-up call for the government and all stakeholders
involved in managing public resources," said the Auditor General P. Garswa
Jackson, Sr. "It is imperative that Liberia undertakes urgent reforms in
debt verification, record management, and financial governance to protect
the public purse and restore confidence in our institutions."

 

 

Liberia's domestic debt management has been a persistent challenge for
decades, complicated by periods of political instability, civil conflict,
and weak institutional capacity. Historical audits have often revealed
discrepancies in financial records, and the GAC's latest findings reinforce
concerns about the long-term mismanagement of public finances.

 

Experts note that domestic debt mismanagement is not only a technical issue
but also a governance problem. The absence of proper documentation, the
failure to reconcile old claims, and the lack of oversight have allowed
questionable claims to accumulate over the years, burdening the government
and threatening economic stability.

 

 

"This is not just about numbers," said an economist familiar with Liberia's
fiscal policy. "We are talking about the misallocation of scarce public
resources, the potential for corruption, and the risk that future
generations may bear the cost of mistakes made decades ago. Proper
verification and reconciliation of domestic debt is crucial to safeguard
Liberia's economic future."

 

In response to the audit findings, the GAC has urged the Ministry of Finance
and Development Planning (MFDP), the Central Bank of Liberia, and other
relevant agencies to conduct a full reconciliation of all domestic debt
records. The report recommends stricter debt verification protocols,
including thorough documentation, legal vetting, and transparent reporting
of all debt-related transactions.

 

The Auditor General emphasized that these steps are not merely
administrative but essential for the country's financial stability. "Every
claim must be properly substantiated, and unverified debts should be
immediately flagged for further investigation. Liberia cannot afford to
continue servicing debts that are not legally or financially validated," the
Auditor General noted.

 

The implications of the audit are far-reaching. Liberia's economy, still
recovering from the effects of past civil conflicts and global economic
shocks, relies heavily on fiscal discipline and prudent debt management. The
discovery of nearly US$770 million in invalid claims could prompt a
reevaluation of the country's debt strategy, particularly regarding domestic
borrowing.

 

Financial analysts warn that the mismanagement of domestic debt can have
ripple effects across the economy. It can strain the national budget, divert
funds from essential public services, and hinder investment opportunities.
International donors and investors closely monitor debt transparency, and
such findings could affect Liberia's credibility in global financial
markets.

 

"This audit demonstrates the urgent need for reforms in Liberia's financial
governance," said a senior policy analyst. "Transparent debt management is a
cornerstone of economic stability, and failure to address these
discrepancies could have severe consequences for Liberia's fiscal health and
international reputation."

 

Liberia's government has previously initiated measures to strengthen
financial governance, including improvements in public financial management
systems and efforts to modernize record-keeping. However, the GAC's audit
shows that these reforms have yet to fully address historical
inconsistencies in domestic debt claims.

 

Moving forward, experts recommend a multi-pronged approach: comprehensive
reconciliation of all past debt claims, establishment of a centralized debt
registry, implementation of strict verification protocols for all new
borrowing, and regular audits by independent institutions.

 

"Liberia must adopt a zero-tolerance approach to unverified domestic debt,"
the Auditor General said. "This is essential not only for accountability but
also for maintaining public trust and ensuring that government resources are
used effectively for the benefit of all Liberians."

 

The audit is expected to prompt heightened parliamentary oversight, with
lawmakers calling for hearings and investigations into the management of
domestic debt. Civil society organizations and the media are also likely to
play a critical role in ensuring that the findings lead to meaningful
action.

 

The GAC report underscores the importance of transparency, accountability,
and strong legal frameworks in public financial management. It is a decisive
step toward addressing decades of mismanagement and ensuring that Liberia's
domestic debt obligations are legitimate, verifiable, and sustainable.

 

The revelation of $770 million in invalid domestic debt claims is a stark
reminder of Liberia's ongoing challenges in fiscal governance. As the
government and stakeholders grapple with these findings, the path forward
will require decisive action, institutional reform, and a commitment to
transparency.

 

Failure to act could perpetuate fiscal vulnerabilities, increase debt
servicing burdens, and undermine confidence in Liberia's financial systems.
Conversely, rigorous debt verification and improved governance can
strengthen Liberia's economy, safeguard public resources, and restore trust
in the country's institutions.

 

The GAC audit has set the stage for a new chapter in Liberia's financial
management--one that emphasizes accountability, transparency, and
sustainable debt practices, ensuring that past mistakes do not continue to
burden future generations.

 

Read the original article on Liberian Observer.

 

 

 

Africa Must Be Included in Global Digital, AI Revolution - - Elumelu

Washington — Chairman, United Bank for Africa, UBA PLC and Founder, Tony
Elumelu Foundation, Mr. Tony Elumelu, in this interview, spoke on highlights
of his presentation during the seminar on Boosting Productivity Growth in
the Digital Age held at the ongoing annual meetings of the World Bank and
International Monetary Fund, IMF, in Washington DC.

 

He also spoke on key findings of the UBA White Paper titled Banking on
Africa's Future: Unlocking Capital and Partnerships for Sustainable Growth
launched on the sidelines of the annual meetings.

 

In your presentation at the seminar on 'Boosting Productivity Growth in the
Digital Age' you spoke on digital transformation and its benefits for
Africa. What was your key message?

 

My message is simple -- Africa must be included. The world must be
deliberate about including Africa in the digital revolution. Africa must
have a seat at the table where governance, practices, and protocols for
artificial intelligence (AI) are being developed.

 

We must be intentional about it and recognize that, in the 21st century,
digital inclusion is economic inclusion. Digital transformation should not
only lead to productivity and efficiency -- it should also lead to the
democratization of prosperity.

 

For us Africans, there's a lot to do to take advantage of this moment. We've
had revolutions before -- like the mobile money revolution -- and we did
well. Now, there's another opportunity before us with the digital and AI
revolution.

 

But for this to happen, access to electricity must improve. Electricity is
critical to power data and the AI revolution. Yet, over 50% of our people do
not have access to electricity. This is unacceptable.

 

I use this opportunity to call on all African governments that are genuinely
interested in solving youth unemployment, driving transformation, and
democratizing prosperity on the continent -- fix the electricity challenge.

 

Our youths are not asking for sympathy. They are asking for systems that
work -- an enabling environment that allows them to put their talents to
productive use. If this happens, Africa will develop. If it doesn't, we are
doomed.

 

You spoke about mobilizing financial capital within Africa. Could you
elaborate on that?

 

Yes. The African Finance Corporation (AFC) -- which we helped to establish
-- recently published research showing that Africa has over $4 trillion in
untapped economic resources.

 

We need to work together to unlock this potential. That's why the United
Bank for Africa (UBA) released a white paper focused on mobilizing domestic
capital.

 

The event was held at the World Bank headquarters during the IMF/World Bank
Annual Meetings 2025, bringing together government policymakers, global
development institutions, leading commercial banks, and academics --
including a Harvard Business School professor who presented the paper.

 

The goal is clear: to think and act collectively on how to mobilize Africa's
capital. Nations that have developed did so primarily through internal
capital mobilisation.

 

If we can effectively mobilize this $4 trillion, we can then attract even
more foreign investment. When investors see that Africans are serious about
investing in their own continent, they will be encouraged to join us.

 

After this initiative, what are the next steps?

 

Talking is less than 1% of the work. What matters is execution -- getting
things done.

 

As the Harvard Professor, the keynote speaker, noted, we've been saying
"Africa is rising" for over 25 years, yet the same issues persist. Now is
the time to act -- starting with improving access to electricity. It remains
the single most critical factor holding back our continent's development.

 

One key revelation from the UBA White Paper is that 85% of Africa's $4
trillion is held in safe sovereign instruments. Do you see this as a
challenge?

 

Sovereign wealth funds are important, but the bigger issue is pension funds.
Are we investing pension funds properly?

 

No one will develop Africa for us. We must do it ourselves. Look at the
Dangote Refinery -- it became a reality because local banks and African
institutions financed it, not foreign lenders.

 

At Heirs Holdings and UBA Group, we believe in doing what we can from
within. Pension funds have played a critical role in developing many
countries -- including the United States. Nigeria's pension reform under
President Obasanjo was a great initiative and has been managed well.

 

But now, it's time for those funds to go to work. Investing pension funds
only in treasury bills will not develop Nigeria. We must channel them into
critical sectors -- infrastructure, energy, manufacturing -- even if there's
a 5-10% loss initially. We will learn and improve over time.

 

What matters is that our funds work for Africa's development.

 

Read the original article on Vanguard.

 

 

 

Africa: AfDB Pledges to Offer a Tanzanian Bank a 60 Million U.S. Dollar
Grant

Washington — THE African Development Bank (AfDB) has pledged to provide a
total of 60m US dollars to the Tanzania Agricultural Development Bank (TADB)
in 2026 to enhance its capital base further.

 

This was disclosed by the Managing Director of TADB, Frank Nyabundege, at
the Embassy of Tanzania on the sidelines of the Annual Meetings of the World
Bank and the International Monetary Fund (IMF) in Washington, D.C., United
States.

 

The Tanzania delegation at the event was led by the Permanent Secretary in
the Ministry of Finance, Dr Natu El-maamry Mwamba, who also handed over the
TADB 10 Years Impact Report to the Executive Director of the African
Development Bank (AfDB), Ronald Justin Cafrine.

 

 

AfDB is a key partner of Tanzania's government. Through the bank, Tanzania's
Agricultural Development Bank (TADB) received a total of 382bn/- between
2021 and 2024 to strengthen its capital base. This contribution has
significantly boosted the growth of the agricultural sector and the national
economy.

 

The African Development Bank Group Ten-Year Strategy 2024-2033 is based on a
positive outlook regarding Africa's potential to significantly improve its
societies, economies, and the quality of life for its people.

 

Africa has experienced a prolonged period of economic growth over the last
two decades, which has consistently enhanced living standards across the
continent. Over the next decade, Africa can create sustained growth, drive
transformation, and contribute towards critical global solutions.

 

 

Its progress will be driven by its unique assets: a young and dynamic
workforce, growing urban consumer markets, integration of national
economies, substantial clean energy potential, and extensive natural
resource wealth.

 

Read the original article on Daily News.

 

 

 

 

Africa: Ethiopia Reaffirms Commitment to Advancing Peace, Stability in
Africa

Addis Ababa — Ethiopia has reaffirmed its firm commitment to advancing
lasting peace and stability across Africa.

 

The commitment was highlighted during the opening of the 17th edition of the
international training on post-conflict stabilization and reconstruction,
currently underway in Addis Ababa.

 

The workshop was organized by the Ministry of Foreign Affairs of Romania in
partnership with Ethiopia's Institute of Foreign Affairs (IFA).

 

Addressing the event, IFA Executive Director Jafar Bedru noted that African
countries are working diligently to transition from conflict and instability
to lasting peace and stronger institution-building.

 

 

Stating that participants from across Africa represented diverse nations,
experiences and perspectives, he noted this diversity is one of the greatest
strengths of the program.

 

"Your presence here shows our common belief that post-conflict
reconstruction must be led by local actors, local agency support through
regional cooperation and strengthened by global partnership."

 

Regarding Ethiopia's commitment to lasting peace, he emphasized the launch
and implementation of a National Dialogue and Transitional Justice process,
which is designed to heal wounds and strengthen unity.

 

This is one of the experiences that Ethiopia proudly shares with African
brothers and sisters as a model, the executive director emphasized.

 

Accordingly, IFA is also serving as a bridge between diplomacy and peace
building, providing training for diplomats, policymakers, regional actors
with the necessary knowledge and skills.

 

 

Lulia Pataki, Ambassador of Romania to Ethiopia, on her part, said that the
program is the cornerstone of the country's strategy for Africa.

 

For the Ambassador, the course is very important in reconstruction and
stabilization endeavors, noting that one of the important subjects of this
course is disinformation, which affects peace and development, and how to
deal with it.

 

It is an opportunity to connect, to learn from each other, to share
experience, expertise and knowledge on how to prevent instability in
countries and rebuild our societies, she elaborated.

 

Director General of Romania Agency for International Development, Daniela
Dobre said the training program has evolved over the years from a technical
force into a true platform for dialogue, exchange and partnership.

 

It brought together civilian and military experts, policy makers and
practitioners from across Africa and beyond, she further stated.

 

"The last three editions that we held have shown us that collaboration and
knowledge sharing are the most powerful tools for building peace and
stability."

 

The five days program is targeted to share experiences, explore challenges,
and build collective capacity to action as the program combines theoretical
and practical training, it was indicated.

 

Read the original article on ENA.

 

 

 

Nigeria: ASUU Strike - NLC Declares 'No Pay, No Work'

ABUJA -- THE Nigeria Labour Congress, NLC, and its affiliate unions from the
education sector on Monday declared ' no pay, no work', in response to the
Federal Government declaration of 'no work, no pay' policy as a result of
the ongoing two weeks warning strike by the Academic Staff Union of
Universities, ASUU.

 

The NLC alongside the unions also gave the Federal Government a four-wheel
ultimatum to conclude outstanding renegotiations of the 2009 agreementts.

 

The unions include ASUU, the Senior Staff Association of Nigerian
Universities, SSANU, the Non-Academic Staff Union of Educational and
Associated Institutions, NASU, the National Association of Academic
Technologists, NAAT, the Academic Staff Union of Polytechnics, ASUP, the
Senior Staff Association of Nigerian Polytechnics, SSANIP, Academic Staff
Union of Research Institutions, ASURI, College of Education Staff Union,
COESU among others.

 

 

The unions resolved to team up and work as one body in their agitations and
struggle with the government.

 

Speaking at the meeting, President of the NLC, Comrade Joe Ajaero said that
it was resolved that the era of government signing an agreement, reneged on
the same agreement and at the same time threaten the unions was over.

 

He further accused the government of always instigating crisis which
normally culminate in strike actions.

 

"The NLC after extensive deliberation with the unions in the tertiary
institutions on finding solutions to the perennial problems in that sector
decided to brief you guys that we have resolved at the level of NLC to work
with the unions to make sure that we are able to find a lasting solution on
the problems that they have been facing all these years.

 

 

"We have decided to establish a framework for engagement towards
implementation of agreements, outstanding agreements, and towards
sustainable funding of education, in line with UNESCO principles of 25
percent, 26 percent funding of education, and review of wage structures and
allowances in the tertiary institutions, and as well as respect of trade
union rights of collective bargaining.

 

"On this regard, we discovered that those governments sent to meetings go
there without mandate. Henceforth, nobody, the trade unions, either in the
tertiary institutions or anywhere, will not go into any meeting with
government representatives who don't have mandates. Well, that is what is at
the point of this crisis.

 

"You go and finish a negotiation, you sign an agreement, and then you go
back to renage, never again. We will not condone this act. All over the
world, agreements are held in very serious dimension."

 

On development of coordinated team, the NLC President said: "We have agreed
to set up a coordinated team and then ensure that we embark on national
campaign, henceforth.

 

"But to conclude it, we have decided to give the federal government four
weeks to conclude all negotiation in this sector. They have started talks
with ASUU, but the problem in this sector goes beyond ASUU or one union. All
other unions are equally involved.

 

"That is why we are extending this to four weeks. If after four weeks this
negotiation is not concluded, the organs of the NLC will meet and take a
nationwide action that all workers in the country, all unions in the country
will be involved so that we get to the root of all this.

 

"The era of signing agreements, reneging and threatening the unions
involved, that era has come to an end.

 

"The so-called policy of no work, no pay, should henceforth be no pay, no
work. You can't benefit from an action you instigated. We have discovered
that 90% of strike actions in this country are caused by failure to obey
agreements.

 

"And you can't refuse to obey agreements and you punish the other party. So
it's a problem of cause and effect. So the person that caused the problem
will be ready to bear the consequence and you can't beat the child and ask
the child not to cry. "

 

Read the original article on Vanguard.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 


 


 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
Faith Capital (Pvt) Ltd for general information purposes only and does not
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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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