Major International Business Headlines Brief ::: 15 September 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  15  September  2025 

 


 


 


 <mailto:info at bulls.co.zw> 

 


 

 


 

ü  Nigeria: Lagos-Calabar Coastal Highway Will Open Up South West Corridors
for Economic Growth - Umahi

ü  Africa: Malawi Records Highest Inflation in Sub-Saharan Africa

ü  Nigeria: Dangote's Crude Imports Hit 60m Barrels in H1, As Nigeria's
Petrol Bill Swells to N4tn

ü  Nigeria: NCAA Reports Surge in Passenger Refunds As Compliance Improves

ü  Nigeria's Resident Doctors Suspend Strike, Give Reasons

ü  Nigeria: Major Restructuring At FRSC As Corps Marshal Redeploys Top
Officers Nationwide

ü  Uganda: Six Ugandans Honoured By World Book of Records in UK for
Contributions to Socio-Economic Devt

ü  Africa: Promising Trade Leads for Local Companies At Intra-Africa Trade
Fair

ü  South Africa: Food Security to Form Part of G20 Agriculture Working Group
Deliberations

ü  South Africa: Eskom Maintains Reliable Power Supply

ü  Africa: Fitch Affirms South Africa's BB - Rating, Maintains Stable
Outlook

 


 <mailto:info at bulls.co.zw> 

 


Nigeria: Lagos-Calabar Coastal Highway Will Open Up South West Corridors for
Economic Growth - Umahi

Minister of Works, Engr. Dave Umahi, has reiterated the federal government's
commitment to opening up the south west corridors for massive economic
growth, saying the ongoing Lagos-Calabar Coastal Highway holds the magic
wand.

 

Umahi highlighted ongoing work across multiple sections, including those in
Lagos, Ogun, Ondo, Akwa Ibom, and Cross River. Over 30 dredgers are used for
the coastal terrain.

 

The minister made the assertion during inspection of the second section of
the road at Kilometre 77, Ibeju Lekki, saying that the commitment of the
contractor handling the road has gone beyond just providing service to
becoming a developmental partner to the Nation.

 

 

Addressing social media concerns, the minister clarified that there is no
damage to completed works in Section 1, attributing visible conditions to
ongoing sand filling and rain-induced consolidation.

 

 

 

The Minister assured that none of the completed sections of the
Lagos-Calabar Coastal Road were damaged, as was widely reported and claimed
by some people. He affirmed that with the rate at which the construction
work is going, it will be completed ahead of the 36-month completion
schedule.

 

He expressed confidence that if the contractor can sustain working at the
goal of completing one kilometre daily despite the massive sand filling they
grappled with in the swampy areas of the first and second sections, it will
certainly complete the construction ahead of time.

 

On contrary opinions by some members of the public, Umahi said, "The
illusion by some people that some of the completed portions of the
Lagos-Calabar road are damaged is not true; what they fail to understand is
that we have to carry out massive sand filling with stone base on some
swampy portions of the road in the first two sections and have to wait 40
days for it to firm up before laying concrete to link up the rest of the
road.

 

 

"This is why I have taken you through the route to see that there is no
damage to any part of the completed sections. Nigerians need to see the
extent of work being carried out before we cover it with concrete and
pavement so they will understand what has happened," he said.

 

He stressed that some places have over 20 feet of filling, while some have
over 26 feet of filling, saying it is essential for the public to know this
and the extent of what they are doing to construct the road.

 

Also speaking, Controller of Works, Lagos State Engr. Olukorede Keisha said,
"We almost got to the end of Section 2, Lagos end of the Coastal road, and
we saw that the contractor is faring well, diligently working on the task
with clinical perfection."

 

Read the original article on Leadership.

 

 

 

 

 

 

Africa: Malawi Records Highest Inflation in Sub-Saharan Africa

Malawi's headline inflation--the rate at which commodity prices change over
time--has risen to 27.3 percent in July 2025, making it the highest in the
sub-Saharan Africa region.

 

According to a Market Intelligence Report issued by the Reserve Bank of
Malawi (RBM), the sharp increase is largely driven by soaring food prices,
which rose by 31.6 percent.

 

The RBM report shows that while other countries in the region reported
easing inflation rates, Malawi's inflation trend moved in the opposite
direction.

 

 

In Angola, headline inflation dropped marginally to 22.4 percent, while in
Namibia it eased to 3.5 percent. South Africa also recorded a slowdown, with
inflation at 5.3 percent, reflecting better food supply and moderated fuel
costs.

 

 

In contrast, Malawi's inflation continued to rise sharply, worsened by food
and transport costs. The RBM noted that although Malawi's economy is showing
signs of recovery, persistent structural challenges remain--particularly
around agriculture, energy supply, and foreign exchange stability.

 

RBM Governor McDonald Mafuta Mwale stressed that despite the current
difficulties, Malawi is on a path to self-sustaining growth. He pointed out
that the Monetary Policy Committee has maintained a tight monetary policy
stance, holding the base rate at 26 percent to curb demand-side pressures.

 

However, the report cautioned that high inflation remains a major threat to
economic stability, eroding household incomes and limiting growth potential.

 

 

Economists argue that resolving supply chain bottlenecks, diversifying
agricultural production, and boosting forex reserves will be crucial in
reversing the inflationary trend.

 

Read the original article on Nyasa Times.

 

 

 

 

 

 

Nigeria: Dangote's Crude Imports Hit 60m Barrels in H1, As Nigeria's Petrol
Bill Swells to N4tn

Nigeria's ambition of achieving self-sufficiency in fuel production and
fully harnessing the gains of local oil refining continues to hang by a
thread, as both the importation of crude oil and refined petroleum products
continued to soar concurrently in the first half of this year.

 

The Dangote refinery, once Nigeria's hope of ending all fuel imports, in the
first six months of 2025, spanning January to June, imported an estimated 60
million barrels of crude oil from various parts of the world, while
Nigeria's fuel importation also hit over N4 trillion during the period.

 

 

The cost of petrol importation for the period was sourced from data released
by the National Bureau of Statistics (NBS) at the weekend, while the 60
million barrels estimate came directly from the President of the Dangote
Group, Aliko Dangote.

 

In July, at the West African Refined Fuel Conference in Abuja, Dangote
revealed that his company's monthly import of crude oil had risen to between
9 million to 10 million barrels from the US and other countries. "As we
speak today, we buy 9-10 million barrels of crude monthly from the US and
other countries," he said at the event.

 

 

The development remains a paradox and contradiction of sorts, as the
challenge of capital flight in the downstream oil sector, which local
refining was meant to resolve, remains far from over.

 

According to the NBS data, the country spent N2.3 trillion on petrol imports
in Q2, 2025 as against N1.76 trillion recorded in Q1 this year, bringing the
half-year total spending on importation of the product to about N4.06
trillion.

 

 

During Q2, petrol was among the top five most imported commodities
nationwide, followed by durum wheat, gas oil, crude petroleum oils, and cane
sugar for refineries, the data showed.

 

Nigeria has struggled to supply crude oil consistently to the Dangote
Refinery, largely due to production constraints and market dynamics.
Persistent underproduction has left the country unable to meet both export
obligations and domestic refinery demand.

 

At the same time, the Nigerian National Petroleum Company Limited (NNPC),
which controls much of the crude, often prioritises foreign
exchange-yielding exports over local allocation. This situation has forced
the Dangote Refinery, despite its promise to end fuel imports, to source
crude from international markets.

 

But when other fuels are added, for Q2 alone, Nigeria's import of 'mineral
fuels' was N4.42 trillion, representing 28.95 per cent of total imports for
the period. This was followed by machinery and transport equipment with
N4.33 trillion or 28.38 per cent of total imports and chemicals and related
products with N2.46 trillion or 16.10 per cent of total imports.

 

 

Using the Standard International Trade Classification, the top-ranked group
imports were mineral fuels with N4,426.16 billion representing 28.95 per
cent of total imports, this was followed by machinery and transport
equipment with N4,338.91 billion or 28.38 per cent of total imports and
chemicals & related products with N2.461.32 billion (16.10 per cent of total
imports)," the data showed.

 

Mineral fuels, as used in Nigeria's trade reports, according to THISDAY
checks, are a category of fossil-based energy products. They cover refined
petroleum products such as petrol, diesel, kerosene and aviation fuel, as
well as natural gas, among others.

 

The aspiration of Nigeria when the Dangote refinery was being built remains
largely unmet. The operationalisation of the 650,000 bpd facility was
expected to quickly end the country's dependence on imported petroleum
products.

 

>From the outset, the project was promoted as the solution to Nigeria's
long-standing paradox of being a major crude oil producer that nevertheless
spent billions annually importing refined fuels. The refinery was meant to
guarantee self-sufficiency, stabilise fuel prices, conserve foreign
exchange, and even position Nigeria as a net exporter of refined products in
Africa.

 

However, the aspiration has so far remained somewhat unfulfilled. Instead of
achieving immediate energy independence, the refinery itself has had to
import crude oil due to supply and pricing challenges in the domestic
market. At the same time, Nigeria's overall fuel import has continued,
showing that the promise of ending fuel imports has not yet been fully
realised.

 

Also, analysis by commodities showed that the main commodities exported to
African countries in the quarter under review were petroleum oils and oils
obtained from bituminous minerals, with crude valued at N1.26 trillion,
accounting for 42.49 per cent of total exports to Africa.

 

Kerosine type jet fuel accounted for N408.76 billion or 13.78 per cent; gas
oil exported to African countries was N404.00 billion or 13.62 per cent,
while other residues of petroleum oils valued at N157.51 billion or 5.31 per
cent was exported within Africa.

 

Also, the NBS data indicated that by mode of transport, most commodities
exported out of Nigeria were done by sea in Q2 of 2025, with maritime
transport accounting for N22.5 trillion or 98.93 per cent of total exports
during the period.

 

During the period, export trade was moved through the Apapa Port, with goods
valued at N17.93 trillion or 78.83 per cent of total exports, the NBS data
stressed. This was followed by Lekki Deep Sea Port, with a value of N2.4
trillion or 10.58 per cent of total export.

 

Besides, import analysis revealed that Apapa Port also recorded the highest
number of transactions valued at N6.96 trillion or 45.56 per cent of total
imports, followed by Lekki Deep Sea Port which accounted for goods valued at
N2.51 trillion or 16.44 per cent.

 

In the same vein, Tin Can island Port had N1.97 trillion or 12.90 per cent
of total imports, according to the NBS data under review.

 

However, this dominance of ports in Lagos, creates bottlenecks, including
congestion on access roads, overstretched port facilities, and delays that
increase the cost of doing business. The reliance on these two Lagos ports
also exposes the economy to risks of disruption, whether from strikes,
insecurity, or operational breakdowns.

 

Although long delayed, government efforts to decongest and diversify
Nigeria's port system, including expansion in Onne, Port Harcourt, Calabar,
and Lekki Deep Seaport are aimed at reducing the overdependence on Apapa and
Tin Can.

 

In the same period, air transport accounted for N114.02 billion or 0.50 per
cent, whereas road transport accounted for N40.55 billion or 0.18 per cent.

 

Other transport channels recorded N88.29 billion or 0.39 per cent, the
report released at the weekend said. Nigeria's total export for the quota
was N22.75 trillion.

 

Similarly, maritime transport accounted for N14.4 trillion or 94.64 per cent
of the value of total imports, the data indicated, while air transport
accounted for goods valued at N714 billion or 4.67 per cent. Road transport
accounted for N105.83 billion or 0.69 per cent of import during the period
under consideration.

 

Meanwhile, Nigeria's Organisation of Petroleum Exporting Countries (OPEC)
crude oil production slumped to a five-month low of 1.43 million barrels per
day in August, new data from the international oil cartel has indicated.

 

However, the OPEC figures, made available in its Monthly Oil Market Report
(MOMR) for September, do not include condensate, which although has the same
quality as crude oil, is excluded from its calculations of members'
contribution by OPEC.

 

For context Nigeria's condensate production was roughly 204,000 bpd in July
when the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) last
released its output data. The data for August is still being awaited.

 

The last time Nigeria's OPEC production was closest to the August output was
in March when oil production was 1.4 million bpd, while in April, it shot up
to 1.48 million bpd and then 1.45 million bpd in May, 1.5 million bpd in
June and 1.5 million bpd in July.

 

Available information showed that although oil production has significantly
increased, Nigeria has only been able to meet its OPEC quota three times
this year. These were in January, June, and July 2025.

 

Further analysis of the OPEC MOMR report showed that the production figure
represented a 4.7 per cent decline month-to-month. The data used by OPEC was
derived from direct communication with the Nigerian authorities.

 

However, despite the fall in production, Nigeria sustained its position as
Africa's leading oil producer, surpassing Libya, which recorded an output of
1.38 million bpd; Algeria with 947,000 bpd and Congo with an output of
271,000 bpd.

 

Also, OPEC said the country's oil production in August fell below the
country's assigned quota of 1.5 million bpd.

 

But taking into consideration data from its secondary sources, OPEC put
Nigeria's crude production at 1.54 million bpd in August, which is a 0.15
per cent drop from the 1.55 million bpd recorded in July from the same
information channel.

 

Nigeria has an oil production benchmark of 2.06 million bpd (plus
condensate) built around a crude oil price benchmark of $75 dollars per
barrel in its 2025 budget. A decline in either production or price below
these levels has significant economic consequences.

 

Read the original article on This Day.

 

 

 

 

 

 

Nigeria: NCAA Reports Surge in Passenger Refunds As Compliance Improves

The Nigeria Civil Aviation Authority (NCAA) said it has recorded a sharp
rise in passenger refunds, reflecting stronger compliance with consumer
protection regulations across airlines, after the regulator had prolonged
interface with airlines and embarked on sensitization campaign with air
travellers.

 

Data released by the Director of Public Affairs and Consumer Protection, Mr.
Michael Achimugu, showed that refunds between January and August 2025
amounted to N257.2 million, a significant increase from N108.3 million
recorded in the same period of 2024 and N32.8 million in 2023.

 

Hotel accommodation refunds under the provisions of Part 19 of the NCAA
Regulations also climbed to N6.08 million by July 2025, supported by
verified reports from hotels in Abuja, Asaba, and Lagos.

 

Mr. Achimugu described the development as one of the Authority's proudest
achievements in its 25-year history, noting that more passengers are being
protected now than ever before.

 

Achimugu attributed the growth to greater adherence by airlines to NCAA's
consumer protection framework, despite the operational challenges in the
industry and pledged that the Authority would continue to safeguard the
rights of passengers.

 

Read the original article on This Day.

 

 

 

 

 

 

 

Nigeria's Resident Doctors Suspend Strike, Give Reasons

The association said the suspension was to give the government a two-week
window to fully implement its demands.

 

The Nigerian Association of Resident Doctors (NARD) has suspended its
warning strike, two days after it began, "following commitments by the
federal government to address key demands."

 

The strike, which started on Friday morning, was called off on Saturday
night, with members instructed to resume work on Sunday.

 

The association's president, Tope Osundara, confirmed the development to
PREMIUM TIMES in a telephone interview on Sunday.

 

 

 

PREMIUM TIMES learnt that NARD held an extraordinary National Executive
Council (NEC) meeting on Saturday night to review the strike and the
government's response.

 

The association said the suspension was to give the government a two-week
window to fully implement its demands. Mr Osundara emphasised that while
negotiations remain open, unresolved issues could escalate tensions.

 

 

The strike had disrupted services in public tertiary hospitals nationwide,
where resident doctors form a majority of the doctors working there. With
resident doctors on strike, consultants and other health workers were left
to manage heavy patient loads, straining hospital services and causing
delays in care.

 

NARD had embarked on the strike to press for several outstanding demands,
including the immediate payment of the 2025 Medical Residency Training Fund
and the settlement of five months' arrears under the 25-35 per cent
Consolidated Medical Salary Structure review.

 

Other demands included payment of the 2024 accoutrement allowance arrears,
prompt disbursement of specialist allowances, and restoration of recognition
for West African postgraduate membership certificates by the Medical and
Dental Council of Nigeria.

 

The association also called on the National Postgraduate Medical College of
Nigeria to issue membership certificates to all qualified candidates,
implement the 2024 Consolidated Medical Salary Structure, resolve welfare
issues in Kaduna State, and address challenges faced by resident doctors at
Ladoke Akintola University of Technology Teaching Hospital (LAUTECH),
Ogbomoso.

 

 

In a statement released after the strike, NARD said the decision to suspend
the action followed "the commitment of the federal government to address the
issues outlined in our strike communique, as well as the commencement of
payment of the 2025 MRTF to members who were previously owed."

 

It added that the suspension was also guided by concern for Nigerians facing
health challenges amid the current harsh economic conditions.

 

The association urged the Oyo State Government to comply with the 15-day
ultimatum issued by the Nigerian Medical Association (NMA), Oyo State
branch, to resolve outstanding issues at LAUTECH.

 

NARD warned that failure to do so could lead to an indefinite solidarity
strike in the state.

 

State governments were also called on to promptly address welfare challenges
affecting resident doctors.

 

The statement clarified that members in state tertiary hospitals would
continue industrial action until their respective governments demonstrated
genuine commitment to resolving the issues.

 

NARD concluded by reaffirming its dedication to working with all levels of
government to ensure a "healthy Nigeria for all."

 

Read the original article on Premium Times.

 

 

 

 

 

 

 

Nigeria: Major Restructuring At FRSC As Corps Marshal Redeploys Top Officers
Nationwide

Corps Marshal Shehu Mohammed urges members of the public to support the new
appointees in sustaining FRSC's commitment to safer highways.

 

The Federal Road Safety Corps (FRSC) has announced a sweeping redeployment
of senior officers across its national formations, in what the Corps
described as a strategic move to strengthen road safety management and
improve service delivery.

 

In a statement issued Sunday, the FRSC Corps Marshal, Shehu Mohammed,
approved the appointment of a new Corps Secretary, four Assistant Corps
Marshals (ACMs) in strategic portfolios, and the redeployment of Sector
Commanders (CCs) across multiple states.

 

 

At the headquarters level, ACM G. Ntukidem, formerly ACM Personnel, has been
appointed Corps Secretary. ACM J.W. Toby, who previously headed Policy,
Research and Statistics, now assumes duty as Zonal Commanding Officer (ZCO)
RS11HQ Osogbo. His predecessor in Osogbo, ACM I. Abubakar, has been
reassigned to Abuja as ACM Policy.

 

 

 

In other changes, ACM A.M. Hassan will now lead the Technical Services
Department, while ACM A. Sanusi, fresh from the National Defence College,
takes charge of Manpower Development in the Training Department.

 

The restructuring also affected several Sector Commands. Among the key
postings:

 

CC J.N. Alexander moves from Anambra to Delta State.

 

CC B. Asekhauno takes over as Sector Commander in Anambra.

 

CC Y.T. Etuku moves from Kebbi to Kogi.

 

CC R.M.Z. Abubakar is posted to Kebbi State.

 

CC D.B. Apaji assumes command in Bauchi State.

 

 

CC A.P. Longkam becomes Sector Commander in Yobe State.

 

Some officers, including CC S.O. Ayodele (Benue) and CC N.I. Ezeoma (Abia),
retain their current posts.

 

Beyond FRSC state commands, 61 other Corps Commanders were redeployed to key
departments at the FRSC headquarters, zonal commands, the Academy, and
special units.

 

Their new assignments cut across critical areas such as operations,
logistics, training, research, administration, data management, and medical
services.

 

Corps Marshal Mohammed said the exercise was aimed at injecting fresh energy
into FRSC operations, stressing that the appointed officers must justify the
confidence reposed in them.

 

"This redeployment is designed to ensure greater efficiency and improved
service delivery. The newly appointed officers are expected to bring fresh
vigour in line with the Corps' mandate of safer roads and fuller compliance
with traffic regulations," he said.

 

 

 

 

 

 

Uganda: Six Ugandans Honoured By World Book of Records in UK for
Contributions to Socio-Economic Devt

Six distinguished Ugandans have been recognised by the World Book of Records
during a prestigious ceremony held at the British Parliament, in honour of
their outstanding contributions to Uganda's socio-economic development.

 

The awardees include Minister Ruth Nankabirwa, the Cabinet Minister for
Energy and Mineral Development; Rebecca Kadaga, the First Deputy Prime
Minister and Minister for East African Affairs; Professor Augustus Nuwagaba,
Deputy Governor of the Bank of Uganda; Colonel Edith Nakalema, Head of the
State House Investor Protection Unit; Dr. Hillary Musoke, Senior
Presidential Advisor on Agribusiness and Value Addition; and Nelson Tugume,
CEO of Inspire Africa.

 

 

According to Mr. Santosh Shukla, CEO of the World Book of Records, these
individuals were recognised for their exemplary efforts and commitment to
driving Uganda's socio-economic progress.

 

"It's an honor to recognise these Ugandan high achievers in the very heart
of democracy, the British Parliament," said Mr. Shukla.

 

 

The World Book of Records is a globally recognised organisation dedicated to
documenting world records and celebrating outstanding achievements in
various fields. In addition to record certification, it also promotes global
heritage, institutional excellence, environmental conservation, and world
peace.

 

The ceremony, which marked the 8th edition of the awards hosted at the UK
Parliament, was presided over by Lord Rami Ranger, a prominent
British-Indian businessman and Conservative member of the House of Lords.

 

 

Other international honorees included Mayor Arya from India, who made
history as the youngest elected mayor at just 21 years old.

 

This recognition not only celebrates the achievements of these six Ugandans
but also serves as a testament to Uganda's growing impact and leadership on
the global stage.

 

Read the original article on Nile Post.

 

 

 

 

 

Africa: Promising Trade Leads for Local Companies At Intra-Africa Trade Fair

South African companies who were part of the 30-member business delegation
at the recently concluded Intra-Africa Trade Fair (IATF) in Algeria say they
are eager to do business in Algeria and across the continent.

 

This as the local companies generated several promising trade leads over the
course of the trade fair.

 

The IATF 2025 was held in Algiers, Algeria, 4 - 10 September 2025, serving
as a major platform for showcasing African products and fostering
continental trade, investment, and partnerships within the framework of the
African Continental Free Trade Area (AfCFTA).

 

 

Dr Khulile Mtsetfwa, Chief Executive Officer of Swatek Defence and
Aerospace, announced that the company has signed three memoranda of
understanding aimed at establishing distribution lines in Algeria.

 

Keep up with the latest headlines on WhatsApp | LinkedIn

 

"The plan is to make sure that we build relations and maintain the line of
communication with country agents and distributors to penetrate the Algerian
market and the rest of the continent. Our mission throughout the week was to
make sure that we expose our products to the countries which were
represented at the fair," said Mtsetfwa.

 

The company signed a contract worth R20 million that will see them supplying
protective gear to a local company.

 

Rashmee Ramdeen, Director of Zilon Bulk Bags, said the company's
polypropylene bulk bags were well received by visitors and distributors,
generating numerous new business leads.

 

"There is a potential order that is worth R6 million that is being
negotiated with a local company. There was a huge demand for our products
because there are few manufacturers who are producing them in Algeria.

 

 

"The country is currently importing from Europe, and the price is not
competitive. So, this is our opportunity to make inroads in the North
African market," added Ramdeen.

 

Zanele Sanni, Chief Director of Export and Marketing at the Department of
Trade, Industry and Competition, reaffirmed that the IATF is a powerful tool
for trade and investment promotion, helping to drive the implementation of
the AfCFTA.

 

"Participating in this landmark event, assisted in strengthening
intra-African trade under the AfCFTA, and accelerating collaboration in
critical sectors such as energy, automotives, mining and technology," said
Sanni.

 

READ | dtic to lead SA business delegation to Intra-African Trade Fair

 

The South African Pavilion attracted more than 3 000 visitors and 267
buyers, generated approximately 300 leads with an estimated post-six-month
sales value of R483 million, and hosted over 120 business-to-business
meetings.

 

Read the original article on SAnews.gov.za.

 

 

 

 

 

 

South Africa: Food Security to Form Part of G20 Agriculture Working Group
Deliberations

Agriculture Minister John Steenhuisen and Deputy Minister Nokuzola Capa will
chair the upcoming Group of 20 (G20) Agriculture Working Group and Food
Security Task Force Ministerial Meetings.

 

Taking place on 18 and 19 September 2025 at the Lord Charles Hotel in
Somerset West, Cape Town, the Department of Agriculture is organising these
meetings under the themes of data-driven approaches to addressing food
security and promoting inclusive agricultural investment and market access.

 

"The meetings form part of a broader public participation programme
implemented by government, aimed at profiling and promoting South Africa's
Presidency of the G20," the department said.

 

Guided by the theme of Solidarity, Equality, and Sustainability, South
Africa's G20 Presidency is prioritising key issues, including food security,
sustainable development, and enhancing resilience to disasters.

 

The Agriculture Working Group serves as a vital platform for G20 members to
enhance cooperation on agricultural matters, with a key focus on setting
targets to achieve the United Nations (UN) 2030 Agenda's Sustainable
Development Goals (SDGs).

 

Established in 2011 to address food price volatility, the group has since
evolved into an essential forum for supporting and advancing agricultural
initiatives among G20 members.

 

Read the original article on SAnews.gov.za.

 

 

 

 

 

 

 

South Africa: Eskom Maintains Reliable Power Supply

Eskom reports that it continues to reliably supply electricity to South
Africa, with unplanned losses from breakdowns remaining well below the 10
000 megawatt (MW) threshold, currently recorded at 7 394MW.

 

"This reflects sustained structural improvements in plant performance driven
by the ongoing implementation of the Generation Recovery Plan," the
statement read.

 

In addition, the state-owned power utility said the open-cycle gas turbines
(OCGTs), or diesel generators, maintained a load factor of just 0.001% for
the second consecutive week.

 

Keep up with the latest headlines on WhatsApp | LinkedIn

 

"The sustained technical improvements have ensured a reliable power system,
meeting more than 97% of electricity demand since the beginning of the
financial year."

 

 

South Africa has experienced no load shedding since 15 May 2025, with only
26 hours recorded between 1 April and 11 September 2025.

 

Between 5 and 11 September 2025, planned maintenance increased as Eskom
entered the summer period, averaging 4 624MW.

 

During this period, the Energy Availability Factor (EAF) fluctuated
consistently between 69% and 73%, with the month-to-date average further
remaining above the 70% mark.

 

"This upward trend reflects growing stability and improved reliability
across the generation fleet. These figures exclude Kusile Unit 6, which has
been contributing 720MW to the national grid since 23 March 2025.

 

"Although not yet in commercial operation, the unit is expected to reach
that milestone by September 2025."

 

 

To further strengthen grid stability, Eskom has planned to return a total of
2 835MW of generation capacity to service ahead of the evening peak on
Monday, 15 September 2025, and throughout the coming week.

 

Between 1 April and 11 September 2025, the Unplanned Capability Loss Factor
(UCLF), which reflects the percentage of generation capacity lost due to
unplanned outages, further decreased to 26.53%.

 

The utility said this represents a week-on-week improvement of approximately
0.4%, although it remains about 1.2% higher than the 25.38% recorded during
the same period last year.

 

>From 1 April to 11 September 2025, the diesel spend remains well under the
allocated budget.

 

"As of today, 119 consecutive days without load shedding have been
achieved," said the utility on Friday.

 

Summer outlook

 

Meanwhile, Eskom recently published the summer outlook, covering the period
1 September 2025 to 31 March 2026, which forecasts no load shedding due to
the structural progress in plant performance because of the ongoing
implementation of the Generation Recovery Plan.

 

 

The available generation capacity stood at 28 776MW, with Eskom stating that
the current capacity is sufficient to meet requirements over the weekend.

 

>From 1 April to 11 September 2025, Eskom spent approximately R5.9283 billion
on fuel for its OCGT plants, generating 1 000.91 gigawatt-hours (GWh) of
electricity.

 

"While there was no notable increase in expenditure over the past week, the
electricity generated represents a significant rise compared to the
578.14GWh produced during the same period last year.

 

"It is important to note that diesel expenditure is not consistent
throughout the year but fluctuates seasonally in response to system demand
and operational requirements."

 

Load reduction

 

During the previous winter peak periods in the mornings and evenings, load
reduction eased slightly - from an average of 544MW in April 2025 to 529MW
in June 2025 - with Limpopo, Mpumalanga, and Gauteng accounting for
approximately 87% of the total.

 

"Eskom appreciates the progress achieved in reducing load nationally, with a
3% improvement recorded between April and June 2025.

 

"The largest gains were seen in Limpopo and Mpumalanga, with reductions of
13% and 5% respectively. Looking ahead, Eskom is committed to further
reducing load reduction by 15-20% by March 2026 and eliminating it within
two years."

 

Eskom said this will be achieved by addressing 640 000 illegal connections
by March 2026, upgrading infrastructure, including the rollout of smart
meters, reducing zero buyers and illegal vending, and expanding free basic
electricity registrations in priority areas.

 

The primary causes of load reduction remain illegal connections and meter
bypassing.

 

These practices amount to electricity theft and place severe strain on the
network, leading to transformer overloads, equipment damage, and, in extreme
cases, explosions and extended outages.

 

"Electricity should only be purchased through Eskom-accredited vendors, and
customers are encouraged to regularise their electricity usage. These
actions are critical to securing safe, reliable, and fair access to
electricity for all."

 

Any illegal activity impacting Eskom's infrastructure should be reported to
the Eskom Crime Line at 0800 112 722 or via WhatsApp on 081 333 3323.

 

Read the original article on SAnews.gov.za.

 

 

 

 

 

 

Africa: Fitch Affirms South Africa's BB - Rating, Maintains Stable Outlook

Government has welcomed Fitch's decision to affirm South Africa's long-term
foreign and local currency debt ratings at "BB-" and maintain the stable
outlook.

 

According to Fitch, South Africa's credit rating is constrained by several
factors, including low real gross domestic product (GDP) growth, high
poverty and inequality levels, a high and rising government debt-to-GDP
ratio, and a rigid fiscal structure that hampers budget deficit reduction.

 

"However, the ratings are supported by a favourable government debt
structure with long maturities and mostly local-currency-denominated, strong
institutions and a credible monetary policy framework," the National
Treasury statement read.

 

 

Fitch also noted that the Government of National Unity (GNU) continues,
under Operation Vulindlela Phase 2, to implement a reform agenda.

 

 

 

Operation Vulindlela Phase 2 is a joint initiative between the Presidency
and National Treasury to accelerate the implementation of structural reforms
to enable economic growth and job creation.

 

Phase II of Operation Vulindlela will implement reforms in three new areas,
including in digital transformation.

 

According to the Treasury, reforms focused on improving network
infrastructures, such as electricity, logistics, water, and digitalisation,
have alleviated load shedding and halted the decline in freight volume
transported, contributing to Fitch's forecast of a modest increase in real
GDP growth.

 

"Government's economic growth strategy will continue to focus on maintaining
macroeconomic stability to reduce living costs and grow investment,
executing reforms to promote a more dynamic economy, building state
capability in core functions and supporting growth-enhancing public
infrastructure investment," said the Treasury on Friday.

 

 

Over the medium term, Treasury said government will invest over R1 trillion
in infrastructure, and reforms will make it easier for the state and the
private sector to invest in roads, rail, energy and water.

 

In addition, major reforms to state spending and the budget process are
underway, including the implementation of targeted and responsible savings
across government.

 

Treasury announced that further details will be provided in the Medium-Term
Budget Policy Statement on 12 November 2025.

 

Read the original article on SAnews.gov.za.

 

 

 

 

 

 

 

 


 


 


 Invest Wisely!

Bulls n Bears 

 

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

Email:                <mailto:bulls at bullszimbabwe.com>
bulls at bullszimbabwe.com

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www.facebook.com/BullsBearsZimbabwe



 

 

 


 

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.

 


 

 


 (c) 2025 Web:  <http://www.bullszimbabwe.com> www.bullszimbabwe.com Email:
<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
5557 | +263 71 944 1674

 


 

 

 

 

 

 

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