Major International Business Headlines Brief ::: 09 September 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  09  September  2025 

 


                                                                                  

 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Nigeria: Senior Workers Reject Planned 5% Petroleum Tax, Threaten Strike

ü  Nigeria: Strike - Oil Workers' Union, Dangote Group's Abuja Meeting Ends in a Deadlock

ü  Rwanda: REG Explains Electricity Meter Supply Delays

ü  Rwanda: Rubavu City to Get New Transport Hub, Coastal Park Under 2050 Plan

ü  Nigeria: 9% Organisations Use AI in Nigeria, 31% in Advanced Usage - Report

ü  Nigeria: Motorists Endure Gridlock On Abuja-Zuba Expressway Over Fallen Trailer

ü  Nigeria: Why Nigeria's Oil Output Dropped By .7m Bpd in 5 Years - Kachikwu

ü  Nigeria: Dangote, NUPENG Face-Off - NLC Seeks Tinubu's Intervention

ü  Tanzania: Farm-Market Link Assured

ü  Uganda: Residents Protest As Month-Long Blackout Cripples Itojo Hospital and Trading Centre

ü  Lesotho's Giant Dam Takes Shape

ü  The US factory spending $100,000 a month more due to tariffs

ü  Ferrari chair to do community service over tax case

ü  Badenoch 'worried' UK may need IMF bailout

ü  Nepal lifts social media ban after 19 killed in protests

ü  Murdochs reach deal in succession battle over media empire

 


 <mailto:info at bulls.co.zw> 

 


Nigeria: Senior Workers Reject Planned 5% Petroleum Tax, Threaten Strike

The Trade Union Congress of Nigeria (TUC) has rejected the federal government's planned 5 percent tax on petroleum products and issued a 14-day ultimatum to withdraw from it.

 

The senior workers warned that failure to comply could trigger a nationwide strike.

 

In a statement signed by its president-general, Comrade Festus Osifo, and secretary-general, Comrade Nuhu Toro, the union described the proposed levy as "an act of economic wickedness" against Nigerians who are already grappling with the impact of subsidy removal, high fuel prices, inflation and the declining value of the naira.

 

 

"Government cannot continue to use Nigerians as sacrificial lambs for its economic experiments. Instead of offering relief, jobs, and solutions, it has chosen to further squeeze the citizens dry. This is unacceptable," TUC said.

 

 

 

The labour body directed its affiliates, state councils, and structures nationwide to remain on alert for possible mobilisation should the government fail to withdraw the plan.

 

It also called on civil society groups, student unions, market associations, professional bodies, and faith-based organisations to join in resisting the proposed tax, which it warned would worsen poverty and cripple businesses.

 

Alongside its warning to the government, the TUC also issued a strong caution to the Dangote Group over alleged anti-labour practices.

 

According to the statement, reports from the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) revealed persistent intimidation, harassment and denial of workers' rights within Dangote companies.

 

 

The TUC said other unions, including the Chemical and Non-Metallic Products Senior Staff Association of Nigeria (CANMPSSAN) and the Textile, Garment and Tailoring Senior Staff Association of Nigeria (TGTSSAN), had made similar complaints. It warned that the Congress and its affiliates would not hesitate to mobilise solidarity action against the company if such practices persist.

 

"No employer, no matter how wealthy or powerful, will be allowed to trample on the rights and dignity of labour," the TUC declared. "This is not an appeal. It is a final warning. An injury to one is an injury to all."

 

"Failure to comply will attract total solidarity action from the congress and its affiliates across the federation as all our affiliates are fully united in this struggle. Let it be known.

 

The TUC stands shoulder-to-shoulder with our sister labour centre, the Nigeria Labour Congress (NLC), in this fight to defend our affiliates and the rights of Nigerian workers everywhere."

 

On the petroleum tax, they further said, "The TUC hereby urge the federal government to immediately stop this anti-people's plan in its entirety.

 

"Failure to do so will leave us with no option but to mobilise Nigerian workers and the masses for a total nationwide resistance. Strike action is firmly on the table if the government dares to ignore this warning and go ahead to implement this policy," the union said.

 

Read the original article on Leadership.

 

 

 

Nigeria: Strike - Oil Workers' Union, Dangote Group's Abuja Meeting Ends in a Deadlock

Efforts by the federal government to broker peace between the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Dangote Group ended in a stalemate on Monday night, leaving the nationwide strike by oil workers unresolved.

 

The meeting, convened by the Minister of Labour and Employment, Muhammad Maigari Dingyadi, brought government officials, union leaders, and representatives of the Dangote Petroleum Refinery to the negotiation table in Abuja.

 

However, after hours of talks, no agreement was reached.

 

 

 

The strike, which began yesterday, is rooted in NUPENG's accusations that the Dangote Group has adopted anti-labour practices by barring unionisation at its refinery and seeking to dominate the oil supply chain. Labour leaders insist that these actions threaten both workers' rights and the wider economy.

 

 

Addressing reporters after the talks, Dingyadi admitted the process had broken down but expressed optimism that progress could still be made.

 

"We have not been able to reach a final agreement on this matter because we had a stalemate; it was getting late, so we had to call off the meeting until tomorrow. Both parties have tried to listen and cooperate to the best of their ability, but there are always issues that people cannot easily agree on. By the grace of God, tomorrow we should be able to sort them out and get both parties to agree on something that will ensure the strike is called off," the minister said.

 

Speaking to journalists after the meeting, the acting general secretary of the Nigeria Labour Congress (NLC), Benson Upah, who led the NUPENG delegation, stated that the talks collapsed after the Dangote representative walked out on both the minister and the unions.

 

 

"The representative of the Dangote Refinery walked out on the Minister and organised labour, even when we bent over backwards to accommodate his uncompromising behaviour; he still did what he had to do. So we are left with no option but to do the needful; the action continues," Upah said.

 

He dismissed concerns that the strike would worsen the plight of ordinary Nigerians, arguing that the union's fight was in their interest.

 

"We cannot stand by and see an investor whose main purpose is to enslave Nigerians. It is unfortunate that at this point in time we are dealing with an investor whose main objective is to state that there cannot be a union in his establishment. He wants to monopolise the entire system and even dominate the workers alongside him; this we said no to," he declared.

 

 

Talks are expected to resume today while the strike continues to disrupt petroleum distribution nationwide.

 

Oil Workers' Strike Fails To Disrupt Nationwide Fuel Supply

 

Senior oil workers under the auspices Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have declared their support for the ongoing strike by oil workers across the country.

 

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) called the strike on Monday.

 

PENGASSAN's general secretary, Lumumba Okugbawa, said yesterday that if the ongoing situation persists without a resolution, PENGASSAN will have no option but to join in shutting down the refinery operations as a last resort to protect its members' rights and interests.

 

NUPENG had last week expressed reservations about the position of the chairman of Dangote Refinery, Aliko Dangote, that drivers recruited for the operation of its 4,000 Compressed Natural Gas (CNG) trucks imported into the country would not be allowed to join any trade union.

 

The Union described the position taken by the management of Dangote Refinery as an affront to the right to the freedom of association guaranteed under the 1999 Constitution, and a breach of relevant international labour laws to which Nigeria is a signatory.

 

PENGASSAN said, "We wish to put on record that Dangote Refinery management has been resisting potential members of both PENGASSAN and NUPENG from joining the Association since its inception.

 

"All diplomatic efforts to persuade the company's management have not yielded the desired result. It is with deep concern that PENGASSAN observes the increasing resistance to unionisation at the Dangote Refinery. The continued denial of workers' rights will no longer be tolerated going forward."

 

Despite the strike, fuel stations in major cities such as Lagos and Abuja remained operational, providing some relief to consumers amid concerns over fuel shortages.

 

Industry analysts warn that if the strike persists, disruptions could escalate, potentially impacting supply chains and causing fuel scarcity outside the major urban centres.

 

Meanwhile, government officials are reportedly negotiating with union leaders to find a resolution and end the strike.

 

Petroleum dispensing outlets in Lagos operated fully, with attendants attending to motorists. There was normal traffic flow on the first day of NUPENG's planned protest.

 

Our correspondent, who monitored the situation, reports that petrol tankers were seen discharging products at some filling stations, such as NorthWest in Maryland and the MRS station at Ikeja.

 

Motorists, especially commercial vehicle owners, operated smoothly without queuing at any filling station to buy petrol.

 

A national ex-officio member of the Independent Petroleum Marketers Association of Nigeria (IPMAN) Benin Depot, Comrade Douglas Iyike said he led his team to ensure IPMAN members were allowed to load products.

 

"I made sure our marketers all over Nigeria stood with Dangote Refinery in the interest of independent marketers and the general public.

 

"Today, I foiled the attempt made by petro tanker drivers (PTD) to forcefully stop marketers from selling fuel, of which security agencies are aware. They swung into action to arrest any disruption in any petrol station because IPMAN has no connection to PTD or NUPENG," he told LEADERSHIP in a shared conversation.

 

Depot markers sue for industrial peace

 

Meanwhile, the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has expressed concern at the rising tension within the downstream oil and gas industry and the possibility of an industrial action that could disrupt national petroleum supply and distribution.

 

"As responsible stakeholders in this vital sector of the Nigerian economy, we recognise the central importance of industrial harmony to the industry's stability, the protection of jobs, and the sustenance of revenues accruing to the nation.

 

"The potential impact of any strike on ordinary Nigerians, businesses, and government finances cannot be overstated," the Association said.

 

The DAPPMAN, therefore, appealed to all parties involved to exercise utmost restraint and embrace constructive dialogue as the most effective means of resolving disagreements.

 

In particular, the association called for the urgent intervention of the federal government in addressing the concerns of all aggrieved persons.

 

"We firmly believe that engagement at the roundtable will yield lasting solutions and prevent avoidable disruptions in the sector.

 

"Our Association's consistent position has always been to collaborate with government, labour unions, investors, and other critical stakeholders to create a

 

win-win situation that sustains investment, protects workers' rights, and guarantees an uninterrupted supply of petroleum products nationwide.

 

"We humbly urge all parties to sheathe their swords, avoid actions that could escalate the situation, and allow room for negotiations to address concerns fairly, balanced, and sustainably," it said.

 

Fuel Scarcity Hits Yobe, Passengers Cry Out

 

For the meantime, fuel scarcity is gradually biting hard in Damaturu and other parts of Yobe State, with long queues resurfacing in filling stations where the product is available.

 

LEADERSHIP gathered that many petrol stations within the metropolis remained shut due to a lack of products.

 

In a few other stations where the products were available, motorists had to wait on long queues before getting fuel.

 

Musa Bala, a taxi driver, lamented buying a litre of petrol at the cost of N97 after spending about one hour.

 

"We do not know what is happening in this country, and nobody is saying anything concerning the fuel scarcity", he lamented.

 

Fuel Scarcity Looms in Sokoto

 

Residents of Sokoto may soon face acute transportation challenges as members of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have begun shutting down filling stations across the state capital.

 

The union officials were sighted closing several petrol outlets and halting the movement of petroleum tankers along major routes and other highways linking Sokoto to neighbouring states.

 

Eyewitnesses reported that the officials placed leaves and barricades at strategic points, effectively disrupting the supply and distribution of fuel within the metropolis.

 

Though NUPENG officials declined to speak, one enforcement member, who requested anonymity, told our correspondent that "we received an instruction from our national leaders at midnight to enforce this shutdown. We are only carrying out orders."

 

Some residents expressed shock and frustration at the sudden development.

 

A commercial tricycle operator, Bello Musa, said, "I came out early to work and found that most filling stations were closed. If this continues, transport fares will go up, and it will affect everybody. We don't even know the reason for this strike."

 

Black Market Surfaces In Delta As Oil Unions Shut Stations

 

Delta State is facing fuel scarcity, especially in Asaba and its environs, as oil workers belonging to IPMAN and NUPENG commenced an indefinite strike on Monday.

 

The strike, which began today, has caused the closure of numerous fuel stations across the state, prompting a surge in black market activities.

 

The development has been disrupting fuel supply in Delta State and a hike in the cost of transportation, as petroleum marketers often act in solidarity during such strikes.

 

Fuel stations like Rain Oil, Shafa, Matrix, and others remain closed. Desperate motorists and businesses have turned to roadside fuel retailers, selling petrol at an alarming rate of 1,800 to 2,000 per litre.

 

Many residents and road users are frustrated and struggling to cope with the rising costs of transportation and goods.

 

Workers and fuel attendants at Rain Oil by the Asaba/Benin Express road were idle and not ready to sell fuel.

 

One attendant, simply called David, when contacted, said he was obeying his boss's instructions.

 

The decision was reached after an emergency meeting held on Saturday, September 6, 2025, where both unions resolved to shut down all filling stations across the state from 6am on Monday until further directives are issued by their national leaderships.

 

In a circular distributed to marketers, the unions warned that any filling station found operating during the strike would be fined ₦1 million.

 

Filling stations open in Kwara

 

As of yesterday, all the significant and independent fuel stations in Ilorin, Kwara State, were dispensing fuel.

 

There were no queues at the filling stations, and no adjustment had been made to the pump price of petroleum.

 

In Anambra State, petrol was available in virtually every filling station.

 

However, according to LEADERSHIP findings, the filling stations sold at different prices. While NIPCO and JEZCO filling stations, for instance, sold at N890 per litre, MRS sold at N900 per litre, and Conoil at N910 per litre.

 

Strike Not Observed In Imo

 

Fuel stations in Imo State are dispensing fuel to prospective customers, as they did not embark on the strike action by NUPENG.

 

A visit to the Ukoromi filling station along Orlu Road indicated that the station was busy dispensing fuel to customers.

 

The station manager, who spoke with LEADERSHIP anonymously, said they had yet to get a directive to suspend service.

 

Long queues In Port Harcourt

 

Fuel stations in Port Harcourt, the Rivers State capital, and its environs are still open and selling petroleum products to customers despite the nationwide strike declared by the NUPENG.

 

There were long queues at several fuel stations visited by LEADERSHIP within the Port Harcourt metropolis as motorists tried to purchase products.

 

However, our Correspondent gathered that the majority of fuel stations may not open tomorrow following the decision of the Petrol Retail Owners Association of Nigeria (PETROAN) on Tuesday.

 

Most of the fuel stations in Kebbi State sell N900, and N920 per litre.

 

Our correspondent gathered that fuel was available at A A Rano, Shafa, Asaija, Jayyas, and Oando, and there were no long queues.

 

In Cross River State, some petroleum stations are still selling products, while others have shut down their gates. Some stations were shut down along the Mutual Mohammed Highway in Calabar, while others were seen marketing products to motorists.

 

All fuel stations operated normally across Osun State when this report was being filed.

 

There were no records of long vehicle queues or a rise in petroleum product prices, as fuel stations sold petrol between N855 and N900 per litre.

 

All functioning fuel stations in Ado Ekiti, the state capital, sold the commodity to all consumers.

 

Prominent and independent marketers were still selling the PMS above N800 but not more than N900 per litre.

 

CNG Trucks: Nigerians Take To Social Media to Support For Dangote Refinery

 

By CHIKA IZUORA, Lagos

 

Several Nigerians have expressed their concern over the threat of a strike by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), just as they openly support Dangote Refinery to truck petroleum products at a cheaper rate.

 

Through social media, they affirmed their support for Dangote's planned deployment of 4,000 Compressed Natural Gas (CNG)- powered trucks for fuel distribution.

 

NUPENG's declaration of a nationwide strike in protest against the initiative has ignited widespread debate across digital platforms. X, Instagram, Facebook, and LinkedIn timelines are flooded with commentary, many of which favour the refinery's move towards cleaner and more efficient fuel logistics.

 

For many Nigerians, this is not just a battle between a union and a private company; it is a fight over the future of fuel distribution, efficiency, and the nation's economic direction.

 

Some social media users were frustrated by what they saw as decades of union dominance and disruption.

 

On X, @olat187 noted, Nigerians stand with @DangoteGroup. @officialNUPENG9 has been making the lives of Nigerians unbearable for years.

 

James O. echoed this sentiment more profoundly, stating: 'Nigerians, the ONLY business leader and saviour we have that keeps ordinary citizens surviving is @DangoteGroup. Nigerians are fully behind you all. If they like, they should go on strike; gone are those days, Nigerians are growing beyond all this."

 

Industry professionals and commentators also weighed in with sharp rebuke of NUPENG's stance.

 

Prof Olushola Bamidele drew an analogy that resonated widely:

 

"So, if I come up with a business innovation, and it threatens your own business, you can try to force me to abandon my innovation? I sell ogbono seed in my village to middle men who take them to the city. I decide one day to buy a pick-up van so I can deliver to the customer directly in the city. Should the middle man fight me or find a way to survive? I don't understand the logic of this impending NUPENG strike."

 

Similarly, Dr. Tosan Harriman pointed out: For a very long time it is obvious @officialNUPENG9 is spoiling for war over their restricted role in the present dynamics. They don't think about the people."

 

Other social media users condemned what they viewed as manipulation and sabotage attempts.

 

@Joguns argued: #DangoteRefinery is a private business. Just like private universities reserve the right to join ASUU strikes, @AlikoDangote should be allowed to run his business legally and for the benefit of Nigerians."

 

Tzalmon was even more suspicious, suggesting that these unions are solely focused on exploiting the people.

 

"I can't help but question whether the @DangoteGroup truck accidents are orchestrated to sabotage the company."

 

On Facebook, Gbenga Emmanuel opined that this is the part where @DangoteGroup should motivate some private individuals to invest in filling stations that will be loyal to it across the country, since @officialNUPENG9 and @PETROAN are moving crazy.

 

The larger concern about foreign influence also surfaced in the debate.

 

Ebere Anosike observed that it seems the NLC and NUPENG are being used to sabotage Dangote Refinery and thus Nigeria's economy to save Western refineries that are worrying about declining fuel imports.

 

"The more worrying aspect is NUPENG workers might not even know they're being used by unseen hands controlling their top officials. A serious country would quickly investigate them for possible economic treason."

 

On Instagram, Adesuyi bluntly remarked in pidgin, "For years @officialNUPENG9 don show Nigerians shege. Now that there's competition they can't withstand it. Anyway Nigerians will stand with @DangoteGroup.

 

Tech-driven voices on X also chimed in, with @NaijaLogistics saying, 'Union should not hold the country to ransom. Dangote's game is innovation. Let's embrace progress, not protest."

 

One LinkedIn user said, "Disruptive? Yes. But anything revolutionary faces resistance. What Dangote is doing will be studied in business schools around the world."

 

Read the original article on Leadership.

 

 

 

 

Rwanda: REG Explains Electricity Meter Supply Delays

The Rwanda Energy Group (REG) says contracts with new suppliers are at an advanced stage as part of efforts to resolve the ongoing shortage of electricity meters across the country.

 

The assurance follows complaints from property owners and developers who say the lack of meters is slowing down housing occupancy and construction projects.

 

The shortage has also affected businesses and industries preparing to start operations, with many forced to rely on costly generators. Families who have completed homes are unable to move in without power connections.

 

 

"It is true our meters for new connections have been in low supply and not meeting the huge demand. We had a supply issue, but this will be addressed sustainably. Other long-term solutions are also under discussion and will be communicated when ready," said Zawadi Geoffrey, REG's Director of External Relations.

 

Asked about a timeline, he added: "All concerned parties are doing everything possible to shorten the process. It is not easy to give a date now."

 

Residents continue to express frustration

 

"Three months have passed without finding electricity meters on the market. I finished my house in Gatsata, Karuruma area, but I can't move in because of the lack of a meter," said Pierre Sibomana, a Gasabo District resident.

 

 

Another resident, Ezechiel Nizeyimana, recounted that REG assessed his house for installation in July but never returned. "I was told to wait until September," he said.

 

However, others like Ancile Mukashyaka said they received meters after waiting for a few months. She applied in January and got hers in March.

 

According to REG, current electricity access in Rwanda stands at 85 percent. The utility estimates that $1.5 billion will be needed to achieve universal access by 2029, after missing the 2024 target.

 

As part of the National Electrification Plan, network extensions have already reached all 416 sectors of the country, with projects underway to connect 1.3 million households between 2024 and 2029.

 

Read the original article on New Times.

 

 

 

 

 

Rwanda: Rubavu City to Get New Transport Hub, Coastal Park Under 2050 Plan

Rubavu District has unveiled an ambitious land use master plan that will guide development through 2050, reshaping the district into a modern urban and tourism hub.

 

The plan, gazetted in August, will inform decision-making for government agencies, private investors, NGOs, and civil society, ensuring coordinated use of land in both urban and rural areas.

 

The New Times looks at key projects to transform the city.

 

Housing expansion

 

According to the land use master plan, by 2050 Rubavu District will host 211,625 dwelling units, of which 125,000 will be in Rubavu Secondary City, 6,625 in urbanised rural centres, and 80,000 in rural settlement sites.

 

 

In urban areas, based on projections, Rubavu District will have 190,597 dwelling units by 2050 as people move from rural areas to urban areas.

 

Modern transport hub

 

A new transport terminal is planned opposite the High Court in Rubavu Secondary City, on a 0.78-hectare site currently used for residences and parking. Once developed, it will serve as the city's main bus terminal, complemented by nearby retail spaces.

 

The local government has identified the area as a potential site for a new transport hub based on land availability and proximity to the city centre along the arterial road.

 

This new bus terminal will function as the main bus terminal of the city, in addition to the existing bus terminal along Market Street.

 

 

Car-free and pedestrian-friendly zones

 

The street north of Rubavu Market is not pedestrian friendly due to vehicles parked along it and obstacles on the footpath. The street lacks vibrancy and is unattractive for outdoor activities.

 

Considering the views towards Rubavu Mountain, the 200m long street will be converted into a car-free commercial street with vibrant commercial and cultural activities for both locals and tourists.

 

The proposed themed pavement and public art will represent the culture and identity of Rubavu. Rubavu High Street will contribute to a refreshed image of the city, especially as streets are important public spaces and iconic gathering places for residents and visitors.

 

ALSO READ: Urban planners weigh in on need for more car-free zones

 

The greenfield site strategically located between the waterfront and Gisenyi Catholic Parish does not have significant commercial activities to attract international tourists. The local government is considering converting one section of the waterfront into a car-free pedestrian boulevard. The site covers 2.0 ha.

 

 

The waterfront project will create a main focal point, an events' venue and a tourist destination in Rubavu. The project will include hotels, a performing arts centre, commercial developments, a pedestrian promenade next to the waterfront park and Rubavu Waterfront Square for events and festivals.

 

Additionally, the road from Kivu Serena to Gorilla Hotel will be reserved as a car-free zone to encourage outdoor, environmentally friendly activities such as walking, jogging and cycling.

 

Cycling facilities

 

Provision of bicycle lanes and convenient bicycle parking in the city centre and at destinations will attract more cyclists and promote Rubavu as a green transport city.

 

High pedestrian activity zone

 

For areas like parks and recreational facilities, a pedestrian-only street will be established. The street will have a positive impact on the quality of the urban environment, and provide an attractive space for non-motorised transport users.

 

With pedestrian facilities, benches, paths, street lighting and greenery, the safety of non-motorised users will be enhanced.

 

Coastal park project

 

Today, the waterfront area lacks commercial activities and vibrancy except during organised events such as music festivals. The park consists of a beach and a landscaped area.

 

During events, the road is filled with parked cars due to the lack of car park facilities. The park is 1.9 km long (0.8 km beach).

 

ALSO READ: Kivu beach: A 'backdrop' of fresh water, sand and sardines

 

The waterfront is expected to be rejuvenated by adding active and vibrant uses. The concept is to develop pedestrian boardwalks and viewing decks that optimise the exceptional lake views.

 

Public art, food and beverage facilities will be located at key nodes along the park to give each area a distinctive character. Programmes including a marina and a botanical garden will create a new destination for various tourism and income groups. Gisenyi Public Beach will also be developed.

 

Rubavu mountain as tourist destination

 

Redevelopment of existing hillside developments along Rubavu Mountain will be carried out. Mount Rubavu is a great asset for the city, for both locals and tourists.

 

Currently, there is no clear view or direct access between the city centre and the mountain due to hillside developments. The site, strategically located at the end of the proposed Rubavu High Street, covers 0.5 ha and contains residential developments.

 

Kabumba urbanised centre

 

Kabumba, historically a trade hub, will be developed into a modern "rurban" centre with a cultural centre, youth facilities, and an upgraded market. An industrial park is also planned in Muhira to attract investment and create jobs.

 

A youth centre and a multipurpose hall will also be constructed to cater for the community.

 

The existing market will undergo a comprehensive upgrade into a contemporary shopping complex, facilitating services for both agriculture and non-agriculture-based products, as well as light industries, with emphasis on handcrafted products.

 

A new commercial centre will be established along the district roads near Mudende Sector, enhancing commercial interactions and serving nearby settlements with emphasis on agriculture-based products.

 

Industrial park

 

The establishment of an industrial park zone at Muhira aims to promote economic growth and attract industries. This designated zone will provide infrastructure and land for industrial activities, creating jobs and stimulating economic development.

 

Touristic zone

 

The district land use master plan identifies a touristic zone around Lake Kivu, recognising its potential. This zone emphasises the development of tourist facilities, accommodation, recreational areas and amenities to attract visitors and promote tourism as an economic driver.

 

Cross-border market and mixed-use areas

 

The plan includes cross-border markets at Busasamana and Rubavu sectors and the development of other mixed-use areas within the district.

 

Water port

 

The land use plan recognises the importance of water ports, proposing one at Nyamyumba Sector near Lake Kivu, alongside other infrastructure to support development, transportation and connectivity.

 

These include roads, ports, terminals and transportation hubs that facilitate the movement of goods and people, enhancing regional connectivity and economic development.

 

Protected zone

 

In 2021, Rubavu experienced one of its worst earthquakes, magnitude 6.4, caused by the eruption of Nyiragongo Volcano in the DR Congo. The earthquake left a fissure line stretching from Goma city up to Lake Kivu.

 

The fracture zone ranges between 60m to 80m in shallow areas and 120m to 250m in deeper portions. To protect lives and households, a protected zone (green space) has been proposed in the area to prohibit future development and structures.

 

Read the original article on New Times.

 

 

 

 

Nigeria: 9% Organisations Use AI in Nigeria, 31% in Advanced Usage - Report

A new study released yesterday revealed that Nigerian businesses are setting a global standard in balancing artificial intelligence (AI) adoption with robust privacy protection.

 

The study titled: "The AI Privacy Equation: The Nigerian Model of Responsible AI Adoption' also revealed that 93% of Nigerian organisations have already begun their AI journey, with 31% achieving advanced AI integration across the organisation, and 26.5% implementing AI across multiple departments.

 

This indicates that more than half of Nigerian businesses have moved from an experimental phase to operational deployment of AI, the new report from the study said.

 

 

The report was released on Monday by Zoho, a global technology company, on the sidelines of Zoholics Nigeria, the company's annual user conference held this year in Lagos.

 

 

 

It was conducted by Arion Research on behalf of Zoho. The company also said that it saw a customer growth of 75% in 2024 in Nigeria, one of its key markets in the African region.

 

"We continue to invest in Nigeria as businesses here accelerate their adoption of technology to grow and scale. The latest study around AI and Privacy proves that Nigerian businesses are leading the way in responsible AI adoption, as they temper the new technology with privacy measures.

 

"This mirrors Zoho's philosophy of building contextual and privacy-first AI models that can help businesses realise tangible benefits. We infuse our AI solutions--from conversational and prescriptive to agentic and generative--with business context so that it can provide organisations with decision intelligence," said Kehinde Ogundare, Country Head, Zoho Nigeria.

 

 

Furthermore, it said 84% of the respondents during the research report strengthened privacy measures since implementing AI, with 66% describing these improvements as significant.

 

It said the widespread adoption is being driven by executive commitment at the highest levels.

 

More than half of the respondents occupy CEO or executive roles, and this leadership-driven approach is accelerating adoption and moving companies quickly from pilots to full-scale deployment, it added.

 

The study found that Nigerian businesses are not just adopting AI, they are embedding it responsibly. And 94% of organisations now have a dedicated privacy officer or team, a figure well above global averages, according to the report.

 

In fact, 40% of the organisations allocate more than 30% of their IT budgets specifically to privacy protection, reflecting the belief that strong governance is a competitive advantage rather than constraint.

 

It said the financial sector is pioneering the balance between innovation and compliance, representing 29% of the respondents.

 

"Their top AI use cases for them include customer service automation (49%), software development and enhancement (46%), and marketing optimisation (32%), each implemented with privacy-by-design principles at the core.

 

Meanwhile, Zoho has said its growth in Nigeria is being driven by the increasing demand for scalable, unified solutions that are easy to implement. The top products driving revenue growth in the country are Zoho Workplace (enterprise email and collaboration suite), Books (accounting software), Campaigns (all-in-one powerful Email and SMS marketing solution).

 

Read the original article on Daily Trust.

 

 

 

Nigeria: Motorists Endure Gridlock On Abuja-Zuba Expressway Over Fallen Trailer

Commuters experienced a severe traffic gridlock on the Abuja-Zuba expressway Monday morning due to a trailer that fell on the road.

 

Abuja Metro reports that motorists spent close to two hours between Dutsen Junction and Galadima section of the road.

 

Witnesses and the FCT Sector Commander of the Federal Road Safety Corps (FRSC) confirmed that the traffic jam was caused by a trailer that had fallen on the fast lane heading toward the city center.

 

Musa Abdullahi, a commercial driver, described the situation as "terrible."

 

"I took the fast lane from Kubwa, and that is the lane where the trailer fell," he said. "It was terrible because I couldn't maneuver."

 

Mrs. Sheridan Nureni, a civil servant, said she was stuck in the traffic jam from about 7.30am until 10.25am.

 

"I had to call them at the office to inform them of what happened," she said.

 

Our correspondent reports that as at 12pm, FRSC officers were still working to remove the trailer from the road.

 

A brief statement from the FCT FRSC confirmed the incident, saying, "The Federal Road Safety Corps wishes to inform the public that there is an unusual traffic gridlock along the Kubwa expressway caused by a fallen trailer. While efforts are being made to remove the obstruction, motorists are advised to be patient and ply the road with caution."

 

Read the original article on Daily Trust.

 

 

 

Nigeria: Why Nigeria's Oil Output Dropped By .7m Bpd in 5 Years - Kachikwu

Former Minister of State for Petroleum Resources, Prof. Emmanuel Ibe Kachikwu, has called for bold reforms, policy stability, and stronger local participation in Nigeria's oil and gas industry to reposition the sector for sustainability and competitiveness in the face of global energy transition.

 

Kachikwu, who made the call on Monday while delivering a lecture at the Nigerian Content Development and Monitoring Board (NCDMB) Headquarters, Yenagoa, during the 2025 edition of the NCDMB Business Mentorship Lecture Series, noted that oil theft, pipeline vandalism, underinvestment, and regulatory uncertainty have worsened the sector's decline in recent years.

 

 

He said the challenges lead to a sharp fall in production from over 2.1 million barrels per day in 2017 to below 1.4 million barrels in 2023.

 

In his presentation titled: "The Journey of Nigeria's Oil Industry: Past, Present and Future," the former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) traced the history of the petroleum sector from the discovery of crude oil in Oloibiri in 1956 to its current challenges.

 

 

 

According to him, the oil boom of the 1970s elevated Nigeria to the position of Africa's largest producer and the sixth-largest exporter in the world, with revenues funding massive infrastructure projects.

 

However, the period also entrenched overdependence on oil, neglect of agriculture, corruption and environmental degradation, particularly in the Niger Delta.

 

 

While highlighting opportunities, he stressed that the Petroleum Industry Act (PIA) of 2021, if fully implemented, could strengthen governance and attract investments.

 

He also pointed to the rise of indigenous oil companies such as Seplat, Aiteo, Oando, and Heirs Oil and Gas as a sign of industry transformation.

 

Kachikwu, who once presided over OPEC and the African Petroleum Producers Organisation, outlined key reforms Nigeria must undertake to secure the future of its oil sector.

 

These include deploying modern technology to monitor pipelines, ensuring consistent policies to restore investor confidence, de-politicising regulatory agencies, addressing host community grievances, and embracing green energy transition.

 

He recalled his role in advancing Nigerian Content reforms, where local participation in contracts rose from less than five percent pre-2010 to over 30 percent by 2020.

 

He also highlighted initiatives such as the $200 million Nigerian Content Intervention Fund, in-country fabrication projects, and training programmes that equipped over 7,000 Nigerians with technical skills. Beyond policy, Kachikwu urged young Nigerians aspiring to build careers in the oil industry to embrace adaptability, innovation, integrity, and a strong sense of responsibility towards communities and the environment.

 

He said: "The oil industry may be facing disruption, but it is also full of opportunities," he said. "It is not just about barrels and dollars; it is about national survival, community welfare, and the environment we will leave for future generations."

 

The lecture also drew inspiration from global icons such as Nelson Mandela, Bill Gates, Elon Musk, and Aliko Dangote, with Kachikwu emphasising perseverance, self-belief, and innovation as essential values for success.

 

He charged the younger generation to build on existing reforms with courage and integrity, stressing that Nigeria's energy future lies in balancing petroleum development with renewable energy adoption and inclusive growth.

 

Read the original article on Daily Trust.

 

 

 

 

Nigeria: Dangote, NUPENG Face-Off - NLC Seeks Tinubu's Intervention

NUPENG had said that it would commence a nationwide strike from Sunday, over what it described as Dangote's "anti-union practices, monopolistic agenda..."

 

The Nigeria Labour Congress (NLC) has called on President Bola Tinubu to promptly intervene in the face-off between the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Dangote Group.

 

The Congress called on the President to call on the Dangote Group to comply with labour laws and international conventions.

 

 

 

NLC made the call in a statement signed by its President, Joe Ajaero, which was made available to journalists on Saturday in Abuja.

 

The statement was sequel to the announcement by NUPENG that it would commence a nationwide strike from Sunday, over what it described as Dangote's "anti-union practices, monopolistic agenda, and indecent industrial relations strategies."

 

Mr Ajaero called on the president to "immediately call Aliko Dangote and Alhaji Sayyu Dantata to order" and impress on them to respect the nation and international law

 

He added that the government must not look the other way while "a few individuals privatise the nation's energy future and enslave its workforce."

 

The NLC president accused Dangote Group of exploiting Nigerian workers while disregarding their constitutional rights to unionise and bargain collectively.

 

"The NLC unequivocally condemn the anti-union, anti-worker, and monopolistic practices of the Dangote Group and its affiliates.

 

"Nigerian workers are not slaves and cannot be serially abused without consequences," he said.

 

Mr Ajaero said the NLC further demanded the immediate unionisation of Dangote Refinery and all its subsidiaries.

 

According to him, preparations are underway for a united resistance in solidarity with NUPENG, including possible industrial action.

 

"If Dangote continues on this reckless anti-union path, we will move beyond words to action.

 

"Our solidarity is not negotiable. We will fight because we must.

 

"The working class must not be sacrificed on the altar of corporate greed," he said.

 

(NAN)

 

Read the original article on Premium Times.

 

 

 

 

 

Tanzania: Farm-Market Link Assured

Iringa — CCM Presidential candidate, Dr Samia Suluhu Hassan, yesterday reaffirmed her commitment to linking farmers to reliable and fair markets.

 

Addressing campaign rallies in Makambako (Njombe), Mafinga and Kalenga, President Samia said that if elected, her government will continue supporting farmers in boosting crop production.

 

She assured farmers in Iringa that the government will soon open grain-purchasing centres through the National Food Reserve Agency (NFRA), guaranteeing fair prices, better earnings and enabling farmers to prepare for the next season.

 

 

 

The President noted that NFRA has already begun purchasing maize in Ruvuma and Rukwa, with similar centres set to open in Mbeya, Njombe and Iringa.

 

"We have been providing subsidised fertilisers to farmers, which has significantly improved food production. Farmers have produced enough and we will buy these crops to ensure production continues into the next season," she said.

 

President Samia also revealed plans to construct new grain storage facilities in several regions to expand NFRA's capacity to purchase and preserve crops.

 

"We understand that farmers are producing more, thanks to the improved farming environment. The government is working to ensure we can purchase and safely store these grains," she explained.

 

Earlier, parliamentary candidates from Njombe and Iringa urged the President to instruct NFRA to accelerate the opening of crop-buying centres.

 

Makambako parliamentary candidate, Mr Daniel Chongolo, said some traders were persuading farmers to sell their produce at low prices, adding that local leaders encouraged them to wait for NFRA's intervention.

 

"We are asking you to order NFRA to open cropbuying centres. Farmers have produced enough, both for their families and the market," he said.

 

President Samia assured residents that NFRA would soon begin direct purchases from farmers.

 

In Kalenga, she emphasised that her government is focused on empowering citizens through development projects.

 

"In the areas I have visited, many people have expressed satisfaction with projects that improve their lives. This is exactly what we will continue to do in the next five years," she said.

 

She also urged CCM members to stay united during the campaign season.

 

"We must come together, put aside differences and not allow ourselves to lose strength," she said.

 

President Samia pledged that her government would sustain the current pace of development over the next five years, including expanding road networks, extending electricity and water supply, building hospitals, health centres, dispensaries, schools, vocational training centres, colleges and university branches across the country.

 

Read the original article on Daily News.

 

 

 

 

 

Uganda: Residents Protest As Month-Long Blackout Cripples Itojo Hospital and Trading Centre

Itojo General Hospital and Itojo Trading Centre have now spent a month without electricity due to faulty transformers, sparking anger among residents who blocked the Ntungamo-Mbarara highway by burning tyres and dumping garbage on the road. Police were later called in to disperse the protesters.

 

Hospital staff say the outage has disrupted treatment, forcing many patients to return home untreated.

 

"The hospital uses electronic systems, so now that we don't have electricity, patients wait too long to get services and others go back home without being attended to," said Polly Katungi, a linkage facilitator at the hospital.

 

Eva Kempoko, another staff member, added that working hours had been shortened by two hours daily, worsening the backlog.

 

 

 

The blackout has also plunged Itojo Trading Centre into darkness, fuelling insecurity and threatening businesses that depend on electricity.

 

"We have reported these issues to responsible persons but we are yet to receive any response," said LC1 chairperson Mugisha Kyafayo.

 

Residents accused authorities of neglect. "Yesterday they came asking for licences with guns, and we keep giving them money. However, they don't attend to our electricity issues," said one trader.

 

Protesters vowed to demonstrate again if power is not restored.

 

"We want electricity. If it's not worked on, we shall demonstrate again," warned Franko Otamundekyera.

 

Denis Muhumuza Savimbi, a member of the hospital management committee, said the blackout has left patients in dire conditions.

 

"Itojo General Hospital serves Greater Ankole, Kigezi, Rwanda, and Congo, but we have now spent one month without electricity and water. The hospital is stinking."

 

District officials acknowledged the crisis, blaming repeated transformer failures.

 

"We engaged UEDCL and they replaced the transformer that was struck by lightning some weeks ago. However, the replacement transformer also developed issues and could not continue supplying power to the facility," said Anthony Kushaba, Ntungamo District communication officer.

 

Authorities say they are still working with UEDCL to restore a reliable power supply.

 

Read the original article on Nile Post.

 

 

 

 

Lesotho's Giant Dam Takes Shape

Construction of the Polihali Dam in Lesotho's highlands is advancing after delays, with 30% of the main work completed, according to the Lesotho Highlands Development Authority.

The huge dam will boost the water supply to Gauteng.

About R18-billion of the R53-billion project has been spent.

Construction of Lesotho's giant Polihali Dam, which will boost the water supply to Gauteng, is advancing after years of delays.

 

The dam in Mokhotlong is part of Phase II of the Lesotho Highlands Water Project. It is advancing after years of planning setbacks. By the end of July 2025, about M18-billion (R18-billion) of the project's M53-billion budget had already been spent, according to the Lesotho Highlands Development Authority (LHDA) spokesperson Mpho Brown.

 

At the confluence of the Senqu and Khubelu rivers, the Polihali Dam will create a reservoir covering more than 5,000 hectares and holding 2,325-million cubic metres of water. Once completed, it is expected to boost annual water transfers to South Africa's Gauteng region from 780 to 1,270-million cubic metres and raise electricity production at Lesotho's 'Muela hydropower plant from 500GWh to 800GWh per year.

 

Addressing journalists during a media tour of the project last week, Brown said about 30% of the main dam works were complete by July. The M2-billion Senqu Bridge, one of the largest structures under the project, was already 86% finished.

 

Brown added that the project had created jobs for roughly 14,000 people, though he cautioned that it could not significantly reduce Lesotho's 30% unemployment rate.

 

The Polihali Dam will create a reservoir covering more than 5,000 hectares and holding 2,325-million cubic metres of water and is expected to boost water transfers to South Africa and raise electricity production at Lesotho’s ‘Muela hydropower plant.

 

The development has reshaped life for thousands of people in the highlands. According to LHDA, more than 7,200 community assets have been expropriated, with M154-million paid in compensation for nearly 5,600 of them.

 

Koali Hlasoa, Senior Integrated Management Officer at LHDA Polihali Branch, said delays in outstanding payments were often linked to identification and ownership documentation problems, family disputes, or the absence of bank accounts. In some cases, beneficiaries had moved to South Africa for work, further slowing the process.

 

Alongside compensation, the project has been forced to manage environmental impacts. Chief Resident Engineer Ivano Vanzaghi, from the Matla a Metsi Joint Venture supervising the dam works, said contractors had so far generated 20,500 litres of waste oil, nearly 9,000 kilograms of other hazardous waste, and over 34,000 cubic metres of wastewater. More than 49 tonnes of general waste had been sent to landfill.

 

 

Groundup

One of the two intakes into a 38km tunnel that will transfer water from Polihali Dam into Katse Dam.

Communities have lodged complaints about dust, noise, air pollution, and water quality, while 40 environmental incidents have been reported. None were considered significant and the project supervisors are monitoring these reports, Vanzaghi said.

 

But delays have been harder to manage. The main dam fell behind schedule during site establishment, with slow excavation and hold-ups on tunnelling and spillway works. By late August, Vanzaghi said only 44 of 87 interior plinth blocks -- structures that secure the dam wall -- had been completed. Grouting of the external plinths had not yet begun.

 

Water impoundment, once scheduled for January 2025, has now been pushed back nearly two years to November 2026. Full completion of the dam and related works is expected between August and September 2029.

 

Three major bridges -- Senqu, Khubelu and Mabunyaneng -- are under construction to maintain road access across the reservoir once it fills. The existing crossings on the A1 Road will be submerged under water.

 

The Senqu Bridge, the largest and most complex, costs M2.3 billion and will stretch 825 metres across the reservoir at a height of 90 metres.

 

Construction, awarded to the WRES Senqu Bridge Joint Venture made up of firms from Lesotho, South Africa, Italy, Austria and France, began in late 2022. Originally set for completion in November 2025, it is now expected in February next year.

 

Louis Joubert of Zutari, the consulting engineers overseeing the bridges, said early delays were caused by design changes, operational problems, severe winds, labour strikes and blockages by local communities. He stressed that the bridge had been designed to withstand floods and earthquakes and should last at least a century.

 

The two smaller bridges, Khubelu and Mabunyaneng, are two-thirds complete.

 

Meanwhile, work continues on the 38-kilometre transfer tunnel that will connect Polihali to the Katse Dam, allowing the volumes of water tunnelled to South Africa to increase. Two massive tunnel boring machines imported from China will start digging from both ends, each boring 17.2km until they meet in the middle.

 

The Katse side tunnel boring is scheduled to begin early next year, with the Polihali side to follow later in 2026.

 

Read the original article on GroundUp.

 

 

 

 

Murdochs reach deal in succession battle over media empire

A years-long succession battle within Rupert Murdoch's conservative media empire has drawn to a close, with his son Lachlan set to control the news group.

 

The deal, which the family announced on Monday, will ensure the ongoing conservative leaning of Fox News, The Wall Street Journal and The New York Post after 94-year-old Rupert's death.

 

Under the agreement Lachlan will control a new trust while siblings Prudence MacLeod, Elisabeth Murdoch and James Murdoch will cease being beneficiaries of any trust with shares in Fox or News Corp.

 

It follows years of tension between the media mogul and three of his children over the future of the family-owned newspapers and television networks.

 

The Murdoch family's internal turmoil served as inspiration for the hit television drama Succession. The deal announced on Monday - the finale of the real-life saga - ends all litigation over the family's trust.

 

Lachlan's more politically moderate oldest siblings are poised to sell their holdings in Fox and News Corp in the coming months.

 

They will also be named as beneficiaries of a new trust, which will receive cash from the sale of about 14.2 million shares of News Corp and 16.9 million shares of Fox Corp.

 

According to the New York Times, Prudence, Elisabeth and James will receive $1.1bn (£810m) each.

 

The sale of their shares will add to the three siblings' existing inheritance, but prevent them from having any influence over the political bent of the family's media conglomerate.

 

Andrew Neil, the former editor of the Sunday Times and the founding chair of Sky TV, said the outcome was a success for Rupert Murdoch, though "an expensive success".

 

Describing Lachlan as a "chip off the old block", Neil said Rupert's fear was that "when he went to the great newsroom in the sky Lachlan would be outvoted" by his three oldest siblings "who are of a small 'l' liberal bent".

 

"That won't happen now because they've been bought out… Lachlan Murdoch is now king of the hill in a new trust that will have control of the organisation and he runs that without fear of interference from his siblings," he told the BBC.

 

James has in recent years distanced himself from his family's business, citing disagreements over editorial content.

 

Lachlan is currently the chair of News Corp, which counts The Wall Street Journal and The Times among its publications. He is widely seen as the most politically conservative of Rupert's oldest children.

 

Matthew Ricketson, professor of communication at Deakin University in Melbourne, said the bitter legal battle had been over family control of a vast empire that Rupert has always described as a "family business".

 

"He seems to have torn apart his family in the process," he told the BBC's Today programme.

 

"It is now resolved but you can't see them all being very happy about it and the bitter irony is Rupert Murdoch has always said that he has built this business, it is a family business, he wants his family to take it over when he eventually passes on."

 

Getty Images Lachlan, Rupert and James Murdoch all wearing blue suits smiling at the camera at Rupert's wedding to Jerry Hall in 2016Getty Images

Lachlan (L), Rupert and James Murdoch (R)

News Corp said: "The leadership, vision and management by the company's chair, Lachlan Murdoch, will continue to be important to guiding the company's strategy and success."

 

Of Rupert's six children, the oldest four have been implicated in the legal turmoil over the company's future. His younger children from his marriage to Wendi Deng Murdoch, Chloe and Grace, are also named as beneficiaries in the new family trust.

 

Lachlan has been running the media empire since Rupert stepped back in September 2023 though Murdoch senior has remained as chairman emeritus of both Fox Corporation and News Corp.

 

Prof Ricketson said that James, Elisabeth and Prudence, in particular James, have "been opposed to the way in which News Corporation and Fox Corporation have been going about their work".

 

He said that James has disagreed with reporting on climate change and on the 2020 US election "which Donald Trump said he hadn't lost but everybody else said and knew that he had lost it".

 

"Fox News gave him an enormous platform," to promote that theory, Prof Ricketson said. "That was something that James disagreed with."

 

The battle over control of the media empire played out largely behind closed doors in Nevada, a state that offers unusual privacy for family trust disputes, after Rupert took the surprising step of attempting to alter the terms of the family's trust.

 

He wanted to ensure his empire would fall solely into Lachlan's hands rather than to all four of the oldest children, but in December last year a Reno court rejected that bid saying Rupert and Lachlan had acted in "bad faith" in trying to amend the trust.

 

Monday's deal was a "mutual resolution of the legal proceedings", according to the companies.-BBC

 

 

 

 

 

Nepal lifts social media ban after 19 killed in protests

Nepal has lifted a social media ban, which sparked protests and led to clashes with police that left at least 19 people dead and injured more than 100 others.

 

In the weeks before the ban, a "nepo kid" campaign, spotlighting the lavish lifestyles of politicians' children and allegations of corruption, had taken off on social media.

 

When the government moved to ban 26 social media platforms, including Facebook and YouTube, protests erupted with thousands of young people storming parliament in the capital Kathmandu on Monday. Several districts are now under a curfew.

 

A government minister said they lifted the ban after an emergency meeting late on Monday night to "address the demands of Gen Z".

 

Last week, Nepal's government ordered authorities to block 26 social media platforms for not complying with a deadline to register with Nepal's ministry of communication and information technology.

 

Platforms such as Instagram and Facebook have millions of users in Nepal, who rely on them for entertainment, news and business.

 

But the government had justified its ban, implemented last week, in the name of tackling fake news, hate speech and online fraud.

 

Young people who took to the streets on Monday said they were also protesting against what they saw as the authoritarian attitude of the government. Many held placards with slogans including "enough is enough" and "end to corruption".

 

Some protesters hurled stones at Prime Minister KP Sharma Oli's house in his hometown Damak.

 

One protester, Sabana Budathoki had earlier told the BBC that the social media ban was "just the reason" they gathered.

 

"Rather than [the] social media ban, I think everyone's focus is on corruption," she explained, adding: "We want our country back. We came to stop corruption."

 

Reuters Demonstrators try to break through police barricades in Kathmandu during a protest against corruption and the government's decision to ban several social media platformsReuters

The protests killed at least 19 people and injured more than 100

On Monday, police in Kathmandu had fired water cannons, batons and rubber bullets to disperse the protesters.

 

Prime Minister Oli said he was "deeply saddened" by the violence and casualty toll, and blamed the day's events on "infiltration by various vested interest groups".

 

The government would set up a panel to investigate the protests, he said, adding that it would also offer financial "relief" to the families of those who died and free treatment to those injured.

 

Home Minister Ramesh Lekhak submitted his resignation on Monday evening following intense criticism over his administration's use of force during the protests.BBC

 

 

 

 

Badenoch 'worried' UK may need IMF bailout

Kemi Badenoch has said she is "really worried" that the UK might be forced to embark on a 1976-style bailout from the International Monetary Fund.

 

The Conservative leader told BBC Newsnight that the UK could be forced to go "cap in hand" to the IMF unless the government delivers a plan for economic growth.

 

She made her remarks as she offered to work with Sir Keir Starmer "in the national interest" to cut welfare spending, saying cuts and growth were needed to help the government out of a "doom loop" of rising taxes and precarious public finances.

 

A Labour Party source said Badenoch had a "brass neck" for offering such advice, after the Conservative government had "crashed the economy".

 

The Labour government of the late Prime Minister Jim Callaghan was forced to apply for a $3.9bn (£2.9bn) emergency loan from the IMF during the 1976 sterling crisis.

 

That was seen as a seminal event in post-war economic history, which severely undermined the economic credibility of the Callaghan government.

 

Asked what made her think the UK is heading towards the need for an IMF bailout, Badenoch said: "A lot of the indicators are pointing in that direction.

 

"Many very well respected commentators and economists are saying this."

 

A number of economists, mainly on the right, have in recent weeks raised the prospect of a version of the 1976 sterling crisis repeating itself. Other economists have dismissed this as hyperbole.

 

Andrew Sentance, a former member of the Bank of England Monetary Policy, wrote of "eerie parallels" between the position of the current chancellor and that of the late Denis Healey, the chancellor during the 1976 sterling crisis.

 

But in an article for the Sun last month, Mr Sentance concluded: "The UK may not end up calling in the IMF."

 

UK borrowing costs ease as bond market calms

What's causing the UK's long-term borrowing costs to rise?

Governments borrow money from investors by selling bonds - which is a loan the government promises to pay back at the end of an agreed time. The yield on 30-year UK government bonds - which are known as gilts - has been rising for a number of months, although has now fallen back slightly.

 

Badenoch said there was a "crisis" in UK bond prices.

 

She pointed to UK borrowing costs hitting a 27-year high last week as "yet another indicator" and stressed "we are not growing enough".

 

The Tory leader said: "Labour does not have any plan for growth," adding: "They thought that as soon as they got into power, things would just work because they're Labour and they believe in their own righteousness.

 

"That is not working - they need to get a plan to grow our economy, otherwise we will end up going to the IMF cap in hand."

 

Dismissing a suggestion she was talking the country down, she claimed that doing nothing "would be a dereliction of duty on my part" and said was instead offering "an olive branch" to the prime minister to work with him.

 

"If we do get that sort of crisis because of their bad decisions, we're all going to suffer," she said.

 

"There is no benefit for the opposition party in a country that's doing badly.

 

"We want our country to do well and we will work with the national interest to get that."

 

The Conservatives have two key demands for working with Sir Keir, which are maintaining the two child benefit cap and slashing welfare, although the Tories did not support the government when Sir Keir was forced to water down the welfare Bill by a backbench rebellion in July.

 

"I'm sure that we'll be able to come up with some suggestions, and then if we agree to that - it's not a blank cheque - but if we can find some agreements, then yes, we'll support it," she said of the Bill.

 

"Kemi Badenoch's Conservatives crashed the economy and sent mortgages spiralling," a Labour Party source said in response.

 

"The brass neck Kemi has to think she can offer advice on the economy now is astonishing. The Tories haven't listened and they haven't learned."-BBC

 

 

 

 

Ferrari chair to do community service over tax case

The chair of Ferrari and Stellantis has agreed to do one year of community service and jointly pay millions of euros to settle a dispute over inheritance tax in Italy.

 

John Elkann and his siblings Lapo and Ginerva will pay €183m (£159m) to Italian tax authorities, Italian prosecutors said, according to multiple media reports.

 

Mr Elkann's lawyer said the agreement did not include an admission of liability from the Ferrari chair and his siblings.

 

He said the prosecutors' decisions were an opportunity to bring "this painful affair to a swift and definitive close".

 

Mr Elkann, a member of one of the most powerful families in Italy, is the grandson of Gianni Agnelli, the former boss of Fiat.

 

The tax dispute relates to the estate of Mr Elkann's grandmother, Marella Caracciolo, who died in 2019.

 

Mr Elkann will need to suggest where he could do his community service, which Reuters reported could include helping at a centre for the elderly or a centre helping people with drug addiction.

 

Paolo Siniscalchi, the Elkanns' attorney, said in a statement to the BBC: "John Elkann's request for probation must be viewed in this context and does not entail, just as the settlement with the tax authorities does not, any admission of responsibility.

 

"If this request is granted, the proceedings against him will be suspended, and upon the successful completion of the probationary period, will conclude with a ruling extinguishing all the charges for which John Elkann is currently under investigation.

 

"This outcome would mirror that of his siblings Ginevra and Lapo, for whom dismissal of charges has been requested."

 

Prosecutors had alleged the Elkann siblings failed to declare roughly €1bn in assets and €248.5m in income, on the basis their grandmother was a Swiss resident.

 

Prosecutors on Monday accepted the agreement to pay millions, and have asked the judge to drop a criminal case against Mr Elkann's brother and sister, which was dismissed.

 

The case stems from a wider dispute between the Elkann siblings and their mother, Margherita Agnelli over the estate of Gianni Agnelli. A civil case is ongoing.

 

Mr Agnelli died more than 20 years ago after building Fiat up from a small car manufacturer into a major conglomerate.

 

Ms Agnelli, who inherited €1.2bn euros, has been fighting to overturn agreements she signed in 2004 after her father's death in an attempt to ensure that money goes to her five children from a second marriage and not to her three eldest.

 

Ms Agnelli's lawyers said in a statement that they welcomed the outcome of these tax and criminal proceedings.

 

Mr Elkann is the oldest of Ms Agnelli's children. He has been chair of Stellantis since 2021, and became chair of Ferrari in 2018, according to Stellantis.

 

He first joined Fiat's board in 1997 and was previously the company's chair.-BBC

 

 

 

 

The US factory spending $100,000 a month more due to tariffs

BBC Frank and Sue stand next to each other, smiling, in front of their factory floor. Behind them is a table with a fan, and an American flag hangs from the wall.BBC

 

Frank Teixeira and his daughter Sue Teixeira, co-owners of Fall River-based Accurate Services

In a corner of a cavernous 1890s factory in southern Massachusetts, 15 people are bent over sewing machines, churning out specialty, hospital-grade neonatal gear.

 

They are all that remain of what was once a much bigger manufacturing operation, most of which the Teixeira family shut down in 1990, reinventing their business as a largely warehousing and distribution business.

 

Since US President Donald Trump started rolling out sweeping tariffs, the Teixeiras have been fielding more inquiries from companies newly interested in their US-based sewing services.

 

But they have turned down those offers, deterred by the difficulty of hiring in the midst of an immigration crackdown and doubts that the demand will be sustained.

 

It's just one of the many indications that achieving the manufacturing revival promised by the president is likely to be far more difficult than the White House has claimed.

 

"It's just not going to happen," said Frank Teixeira, who joined the family business in the 1970s and oversaw its dismantling and reinvention as Accurate Services Inc.

 

"Tariffs are a bad policy and eventually are going to come home to haunt us."

 

 

Trump campaigned for the presidency on the promise of a better economy, engineered in part by tariffs that he said would lower costs and usher in a new golden age.

 

The message proved to resonate with voters, helping the campaign make unexpected inroads in working-class areas long considered Democratic strongholds.

 

That includes the Teixeiras' base of Fall River, a former textile manufacturing hub, where Trump's win marked the first in the city by a Republican presidential candidate in roughly a century.

 

But his plans were widely panned by experts, who warned that the tariffs, which are a tax on imports, would instead raise prices for American businesses and consumers and slow growth - with particular risks for manufacturers, who often rely on imported supplies.

 

Now nearly nine months into the president's term as the tariffs take hold, the gulf between Trump's rhetoric, which boasts of investments pouring into the country, and the reality on the ground in places like Fall River, is starting to show.

 

A worker in a pink shirt makes towels at the Matouk factory in Fall River, Massachusetts. She is examining a white towel on a large workbench, standing in front of a large teal green machine that appears to be embroidering patterns onto other towels.

US manufacturer Matouk relies on imported cloth and other materials to make high-end sheets, quilts and towels

 

Employment growth in the US has slowed precipitously this year, including in manufacturing. After expanding after the pandemic, payrolls at manufacturing firms have shrunk this year, shedding 12,000 jobs last month alone.

 

Business surveys indicate that activity in the sector is in contraction.

 

Last month, 71% of manufacturers questioned by the Dallas branch of the Federal Reserve said the tariffs - which range from 10% to 50% on most imports - had already had a negative impact on their business, raising the cost of resources and hurting profits.

 

At Matouk, a maker of high-end bedding up the road from the Teixeiras', boss George Matouk said that between April and August tariffs had already added more than $100,000 (£74,000) a month in costs, as they hit supplies like cotton fabric from India and Portugal and down from Liechtenstein.

 

George Matouk, in a blue button down shirt, at his factory in Fall River. Behind him women are seated at workstations in the large warehouse space.

George Matouk said he was seeing no benefits from the tariffs

 

Founded by his grandfather in 1929, the company has grown to employ about 300 people in recent years - a point of pride for Mr Matouk, who faced naysayers when he returned as the third generation to join the family business after graduating from Columbia Business School in the late 1990s.

 

But the sudden tariff expense has forced the firm to cut investments on things such as new equipment and spending on discretionary items like marketing.

 

Despite the made-in-America distinction of many of his products, Mr Matouk said he expected no benefits from the tariffs because higher costs were pushing him to raise prices, a move likely to weigh on sales.

 

"Because the materials are subject to tariffs just like everything else, the benefits are not there," he said.

 

Mr Matouk called the current challenges faced by his firm "demoralising in a new way", since they have been inflicted deliberately, by government policy.

 

"We've done all of the things we were supposed to do in order to invest in the industrial base of the United States when no one else was willing to do it and it's just really frustrating that now we're being penalised," he said.

 

Kim and Mike smile while standing on the dark wood floor of their factory, with an American flag hanging behind them

Kim and Mike van der Sleesen, owners of Vanson Leathers

 

Studies on the impact of the more limited tariffs imposed by Trump during his first term on manufacturers in the US have found that small job gains in protected industries, like steel, were more than offset by losses at other firms that were dependent on parts.

 

But Mike van der Sleesen, who runs motorcycle jacket business Vanson Leathers, said he thought the changes this year had been so disruptive that it was premature to make predictions.

 

Mr van der Sleesen, who voted for Trump last year, is no fan of the president's tariffs, which have driven up his costs some 15% this year.

 

However, he shared the president's concerns that foreign companies could easily access the US market, while US firms looking to sell abroad encounter hurdles in the form of tariffs and other taxes.

 

Jared Botelho, a worker at Vanson Leathers, works on snaps for the company's motorcycle jackets

One of the roughly 50 workers at Vanson Leathers

 

"It's been a very uneven and unfair trade path for a company like Vanson," said Mr van der Sleesen, whose business was founded in 1974 and employed more than 160 people as recently as 2000, before the wallop of China's entry into the global order shrunk the workforce to about 50.

 

"We shouldn't charge them and they shouldn't charge us in my view but that's never going to happen," he said.

 

For now, demand for his jackets, which can sell for thousands of dollars, has held up. He said his suppliers in the US were reporting an uptick in activity.

 

"We haven't heard overtime in the textile world for 20 years!" he said. "It's hard to be confident that you can predict what it's going to shake out to be because the changes have been so dramatic."

 

Tom Teixeira, in a gray t-shirt and shorts, walks by the river in Fall River, with the Braga Bridge in the background

Retired transit worker Tom Teixeira believes it will take time for things to improve

 

On the streets of Fall River, many Trump supporters said they remained willing to give the president time to put his strategy to the test.

 

"We should be able to manufacture," said Tom Teixeira.

 

The 72-year-old retired transit worker voted for Trump in 2016, 2020 and 2024, won over in part by his message on the economy.

 

"I know how it was and it can improve but it's not going to improve overnight," said Mr Teixeira, who is not related to the Teixeira manufacturers, adding that he had yet to notice any major price increases this year.

 

"A year from now, if things aren't cheaper, we'll see."-BBC

 

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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INVESTORS DIARY 2025

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


 

 

 

 


CBZH

GetBucks

EcoCash

 


Padenga

Econet

RTG

 


Fidelity

TSL

FMHL

 


 

 

 

 


 <mailto:info at bulls.co.zw> 

 


 

 


DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of 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 subscribe for any securities. The information contained in this report has 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 other member of Bulls ‘n Bears nor any other person, accepts any liability 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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