Major International Business Headlines Brief ::: 22 September 2025
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Major International Business Headlines Brief ::: 22 September 2025
<mailto:info at bulls.co.zw>
ü Tanzania: New Tax Strategy Launched to Raise Domestic Revenue
ü Ghana: 'Eulogise Nkrumah With GH¢ 500 Currency Note'
ü Nigeria: Court Stops Oil Workers Bid to Shut Down Dangote Refinery
ü Nigeria: Senate Urges FCT Doctors to End Strike, Vows Swift Action On
Demands
ü South Africa: Transnet Enters Into Partnership to Upgrade Port Equipment
ü Zambia: Dot Com to Become First Local Tech IPO On Zambia Alternative
Market
ü Nigeria: Group Urges Government to Prioritize Climate Change in Budgets
ü Liberia Signs Five-Year Country Programme Framework With Iaea
ü Liberia: Govt Set Petrol Policy 'Without Consultation'
ü Liberia: 'Protecting the Liberian Dollar, Preserving Our Pride'
ü Africa Needs Partnership, Not Handouts - Gov Lawal Speaks At
Canada-Africa Trade Expo
ü Nigeria, 7 African Countries Endorse Petroleum Regulators' Charter
ü Murdochs likely to be involved in US TikTok deal, Trump says
ü Modi's tax cuts will give India a festive spending boost
<mailto:info at bulls.co.zw>
Tanzania: New Tax Strategy Launched to Raise Domestic Revenue
Dodoma — THE government has unveiled a new Medium-Term Revenue Strategy
(MTRS)-a comprehensive, multi-year plan designed to fundamentally overhaul
its tax system and increase domestic revenue to fund national development
projects.
The initiative represents a significant policy shift from short-term
financial fixes to a stable, predictable and sustainable tax system,
providing greater certainty for both the government and taxpayers.
Speaking at the launch in Dodoma yesterday, Permanent Secretary in the
Ministry of Finance, Dr Natu ElMaamry Mwamba said that the MTRS was
developed to improve revenue collection, enhance policy predictability and
boost public confidence.
The strategy focuses on closing loopholes and reducing fiscal deficits to
achieve a more sustainable and equitable tax framework, she said.
It is aimed at reducing the nation's reliance on foreign aid and commercial
loans, she said.
Dr Mwamba said that the approach was developed through collaboration with
development partners and the private sector.
She noted that it outlines key reforms across three main areas: tax policy,
revenue administration and legal frameworks.
For tax policy, the strategy recommends adopting a national tax policy to
guide the formulation of new regulations and reduce unnecessary exemptions.
On the administrative front, the plan calls for strengthening electronic
revenue collection systems, improving taxpayer registration and enhancing
efficiency in collecting revenue from the digital economy.
It also proposes improvements to the collection of non-tax revenue from
sources such as mining, land rent and tourism.
In terms of legal reforms, the strategy recommends regular updates to tax
laws to curb evasion and ensure a fair system.
Dr Mwamba said the MTRS has taken into account national economic trends and
risks and incorporating mitigation strategies to ensure smooth
implementation.
She pointed out that similar frameworks have been successfully applied in
other African countries, including Kenya, Uganda, Malawi, Sierra Leone,
Ghana, Morocco and Rwanda.
According to Commissioner of the Policy Analysis Department, Mr Johnson
Nyella the strategy was prepared with technical support from the
International Monetary Fund (IMF) and is a foundational step towards
building a strong, self-reliant economy.
"This is about ensuring our country has the capacity to generate sufficient
domestic resources to finance its own budget, foster selfreliance and
achieve sustainable and resilient development," Nyella stated.
The MTRS, which is being implemented in approximately 25 countries
worldwide, signals a move away from short-term financial fixes to a stable,
predictable and sustainable tax system, providing greater certainty for both
the government and taxpayers.
Read the original article on Daily News.
Ghana: 'Eulogise Nkrumah With GH¢ 500 Currency Note'
The government has been urged to introduce GH¢500 currency with the portrait
of the Osagyefo Dr Kwame Nkrumah, in recognition of his enormous
contributions to national development, Africa, and humanity.
This is because the ideals and policies of Dr Nkrumah, Ghana's first
President, remain significant not only to the country, but the continent and
world.
Dr Dee Otibu-Asare, the founder of Nkrumah Vision Alive Movement, a group
that seeks to advocate the achievements, philosophy and ideology of Dr Kwame
Nkrumah, made the call in a statement issued in Accra, to mark the 116th
birthday celebration of Dr Nkrumah.
According to Dr Otibu-Asare, "'the best tribute to Nkrumah is the
implementation of his vision and policies that are still relevant to
national development."
He also appealed to the government to ensure the teaching of Dr Nkrumah's
philosophy and ideology in schools. And the reactivation of the Young
Pioneers concept, to inculcate in the youth, patriotism and moral
regeneration, toward nation building.
Dr Otibu-Asare appealed to historians to write more books on Nkrumah, and
called for the re-printing of books on the great leader that were destroyed
after his overthrow in 1966.
He urged the government to complement its Feed Ghana initiative, with
Osagyefo Dr Nkrumah's state farms policy.
"This will guarantee food security, generate employment opportunities,
particularly for the youth, reduce poverty, improve living standards and
prevent rural-urban migration," he said.
He explained that state farms could also contribute to rural development,
provision of infrastructure, basic amenities like water and electricity, and
the reduction in the importation of food, like rice, and poultry products.
"Dr Nkrumah, who led Ghana to independence in 1957, and laid the foundation
for the country's development, continue to enjoy the goodwill of the people,
including even those who were too young to experience his administration,"
Dr Otibu-Asare noted.
He said the massive infrastructure development, including the Akosombo Dam,
the Accra-Tema Motorway, the establishment of secondary schools and the
University of Ghana and the Kwame Nkrumah University of Science and
Technology, and industralisation drive, were as a result of Dr Nkrumah's
vision.
"Additionally, there is the need to highlight Dr Nkrumah's commitment to
Pan-Africanism, to inspire African leaders and individuals to wholeheartedly
contribute to the social and economic development of the continent," founder
of the Movement said
Dr Otibu-Asare, who is also, Publisher of the West Africa International
Magazine, noted that the struggle for Africa's emancipation and unity,
epitomised in Dr Nkrumah's message: "the independence of Ghana is
meaningless, unless it is linked up with the total liberation of Africa", is
fresh in the minds of many.
"No wonder, Dr Nkrumah was voted African of the millennium in a B.B.C
survey, carried out throughout the continent. All these attributes should
not be distorted, rather they should be enhanced and preserved for future
generations," founder of the Movement said..
BY TIMES REPORTER
Nigeria: Court Stops Oil Workers Bid to Shut Down Dangote Refinery
The National Union of Petroleum and Natural Gas Workers (NUPENG) and Direct
Trucking Company Drivers Association have been restrained from taking any
step or industrial action to shut down or disrupt the production activities
at the Dangote Refinery.
The two bodies were stopped from embarking on any industrial strike through
their members and agents pending the resolutions of a suit brought against
them by Dangote Petroleum Refinery.
Justice E. D Subilim of the National Industrial Court in Abuja issued the
restraining order while ruling in an ex-parte motion brought before her by
Dangote Petroleum Refinery, MRS Oil Nigeria Limited and MRS Oil and Gas
Company Limited.
George Ibrahim SAN of Ogwu James Onoja SAN and Law Firm, Abuja, argued the
ex-parte motion marked NICN/ABJ/279/2024 on behalf of the three applicants.
Dangote refinery had in the motion prayed the court for an order of interim
injunction restraining NUPENG, its members, agents or privies from embarking
on any industrial action aimed at crippling, shutting down its operations or
frustrating its business activities pending the determination of its motion
on notice.
The refinery also sought another order stopping Direct Trucking Company
Drivers Association, its members, agents and privies from joining any strike
orchestrated by NUPENG against it with a view to frustrating, its business.
The oil company and the two other applicants similarly asked Justice Subilim
to order the Direct Trucking Company Drivers Association and its members to
continue petroleum trucking services to them and the Nigerian public pending
the hearing of their motion on notice.
The ex-parte motion was brought pursuant to Order 22 Rules 1, 2 and 3 as
well as Order 17 Rules 1 and 4 of the Industrial Court and section 40 of the
1999 Constitution.
Justice Subilim upon taking the argument of the senior lawyer, granted the
request, restraining NUPENG and its members and agents from embarking on any
form of strike action until the issues in dispute are resolved one way or
the other.
The judge also stopped Direct Trucking Company Drivers Association and its
members from joining or participating in any industrial action orchestrated
by NUPENG against the three applicants with a view to frustrating their
businesses.
Specifically, the Direct Trucking Company Drivers Association and its
members are to continue rendering their services to the applicants until all
issues are resolved.
Justice Subilim held that she was mindful of issuing the restraining order
which shall last for seven days because there is a serious issue to be
tried.
She said that the balance of convenience tilted in favour of the three
applicants because irreparable damage may be occasioned if the orders are
not granted.
The judge further explained that the applicants are better placed having
given undertaking as to damages to the defendants.
Read the original article on Leadership.
Nigeria: Senate Urges FCT Doctors to End Strike, Vows Swift Action On
Demands
Abuja — The Senate Committee on Federal Capital Territory (FCT) Area
Councils and Ancillary Matters has appealed to striking resident doctors in
the FCT to suspend their ongoing industrial action, pledging to intervene
directly with the FCT Minister, Nyesom Wike, to address their grievances.
During an emergency meeting held yesterday with leaders of the FCT chapter
of the National Association of Resident Doctors (NARD), the committee, led
by its Chairman Senator David Jimkuta (Taraba South), acknowledged the
legitimacy of the doctors' concerns and promised immediate engagement with
relevant authorities.
Jimkuta said: "We are pleading with you, return to work and give us the
opportunity to mediate. I will personally take up this matter with the
Minister tomorrow. Our people are suffering; we must act swiftly."
The lawmaker stressed that the ongoing strike is taking a severe toll on
patients, many of whom rely solely on public healthcare facilities in the
capital.
He commended the doctors for their patriotism in remaining in the country
despite the worsening conditions and acknowledged that their demands are not
selfish but aimed at strengthening the nation's crumbling health system.
NARD FCT had declared an indefinite strike last week, citing long-standing
welfare and infrastructure issues. Top among their demands are:
It listed some grouses as payment of salary arrears dating back to 2023;
reversal of unexplained deductions from allowances; proper upgrading of
qualified doctors still paid as medical officers despite specialist training
and provision of basic diagnostic tools, including x-ray machines and
echocardiographs.
The doctors, led by the National President, Dr. Zenith Osundara, told the
senators that the government's failure to meet previous commitments made
after earlier strike actions has left them with no choice.
Osundara argued that hospitals across the FCT remain under-equipped, putting
patients at risk and increasing the burden on medical personnel.
According to NARD, earlier suspensions of strikes were made in good faith to
allow negotiations, but little progress has been made. The situation has
exacerbated frustration among health workers and contributed to the
continued brain drain in the medical sector.
Several senators took turns to sympathise with the striking doctors,
describing their demands as reflective of the dire realities within
Nigeria's healthcare system.
The Senate Committee also requested that the doctors furnish them with
detailed statistics, including the number of affected personnel and monetary
values of unpaid allowances, to enable lawmakers to present a stronger case
to the executive.
As a next step, lawmakers proposed a joint session with the FCT health
administration to facilitate dialogue and reach a resolution.
Read the original article on This Day.
South Africa: Transnet Enters Into Partnership to Upgrade Port Equipment
Transnet Port Terminals has entered into a 10-year partnership agreement
with Liebherr to acquire port equipment that will significantly enhance
operational capacity and efficiency.
Through this agreement, Transnet will benefit from Liebherr's local
expertise, a strategically managed parts supply, and a dedicated customer
service and support network.
"This ensures unrivalled reliability, optimised productivity, and seamless
operations. The introduction of new Liebherr Ship-to-Shore (STS) and
Rubber-Tired Gantry (RTG) cranes, alongside a strengthened lifecycle
management strategy, will enhance efficiency, improve cargo flow, and
support continued growth at South Africa's ports," Transnet said on
Thursday.
Under the new agreement, Transnet has already placed substantial orders for
Liebherr equipment.
This includes four large Ship-to-Shore cranes for the Port of Durban, which
are currently being assembled in South Africa.
Additionally, 48 Rubber-Tired Gantry cranes have been ordered in multiple
batches for the Durban and Cape Town terminals. Both ports have begun
receiving RTGs, with several units having already entered service.
"Partnering with Liebherr ensures that we have access to cutting-edge crane
technology and expert support, enabling us to enhance productivity while
reducing operational costs. This partnership agreement is a testament to our
commitment to delivering world-class service to our customers and keeping
South Africa's ports at the forefront of global trade," Transnet Port
Terminals Chief Executive Jabu Mdaki said.
By partnering with Liebherr, Transnet gains access to state-of-the-art crane
technology, industry leading innovation, and a wealth of technical
expertise.
"This strategic collaboration empowers us to significantly boost operational
efficiency, streamline port logistics, and reduce long-term operational
costs. It reflects our unwavering commitment to delivering world-class
service and maintaining the highest standards of excellence across all
facets of our operations.
"This partnership reflects a shared vision for the future of port
infrastructure in South Africa. Together with Liebherr, we are working to
strengthen our relationship and foster a culture of continuous improvement,
innovation, and mutual growth. Our joint efforts are focused on ensuring
that South Africa's ports remain competitive, resilient, and at the
forefront of global trade," Mdaki said.
Liebherr-Africa General Manager Lukas Sturn said the collaboration with
Transnet marks a significant step forward in strengthening port operations
in South Africa.
"With dedicated service hubs and an optimised parts supply, we are well
positioned to support Transnet's growth and ensure smooth, efficient, and
cost-effective operations," Sturn said.
Beyond the supply of cranes, the 20-year asset management programme ensures
that Transnet benefits from comprehensive lifecycle support, including
maintenance, repairs, and parts management.
Liebherr will provide local parts and service engineers, guaranteeing a
prompt and efficient response to operational needs when required.
As part of this commitment, Liebherr is investing heavily in a new
Competence and Distribution Centre in Durban that includes the Liebherr
Technology Campus, a training and innovation hub offering professional
training and customised solutions for Liebherr equipment and business
skills.
In addition, Liebherr is upgrading its customer service setup in Cape Town,
reinforcing its long-term presence in the region, ensuring 24/7 support.
Read the original article on SAnews.gov.za.
Zambia: Dot Com to Become First Local Tech IPO On Zambia Alternative Market
Dot Com Zambia is preparing to list on the Lusaka Stock Exchange's
Alternative Market (Alt-M), becoming the first 100% Zambian-owned technology
firm to go public. The IPO, announced on September 1, 2025, has board and
shareholder approval and is awaiting final regulatory clearance.
Founded by Mawano Kambeu, the company has grown into a leading ICT solutions
provider, developing revenue collection systems and business intelligence
tools for public and private clients. Institutional investors, including
Kukula Fund and eVentures Africa, backed the firm in 2015 and exited in
2024, while some original shareholders retained their stakes.
The IPO will allow retail investors to invest in the company, marking the
first potential listing on the LuSE's SME-focused Alternative Market, which
was launched in 2015 but has had no prior participants. Exchange CEO
Nicholas Kabaso described the step as "bold and exciting" and said it could
inspire other SMEs to follow suit.
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Africa's investment landscape
Key Takeaways
Dot Com Zambia's move is significant both for the country's tech sector and
its underdeveloped equity markets. Zambia's ICT industry has been expanding
steadily, driven by digitalization in payments, government services, and
logistics; however, few local firms have tapped public capital markets. The
Lusaka Stock Exchange has struggled to attract listings, with just over 20
companies on its main board and little liquidity compared to regional peers
like Nairobi or Johannesburg. The Alternative Market was created to open
access for SMEs but has remained dormant for a decade. Dot Com Zambia's IPO
could break that deadlock, offering a case study in how SMEs can raise
growth capital while deepening retail investor participation. If successful,
it may encourage regulators to streamline listing processes and prompt the
government to introduce incentives. The deal also signals rising maturity in
Zambia's tech ecosystem, where local entrepreneurs can scale beyond venture
funding into public ownership.
Read the original article on Daba Finance.
Nigeria: Group Urges Government to Prioritize Climate Change in Budgets
The South Saharan Social Development Organization (SSDO) has called on
federal and state governments to prioritize climate change in their budgets
to enable effective mitigation and adaptation measures.
The appeal was made by SSDO's Head of Program, Udochukwu Egwim, during the
Youth Climate Justice March in Enugu, held in celebration of the 2025 Global
Week for Action on Climate Justice. The event, observed annually from
September 15 to 21, highlights the growing climate-related issues such as
flooding and food insecurity, which Egwim attributed to years of neglecting
climate concerns.
He urged governments, citizens, and individuals to embrace a just transition
toward climate action, including climate financing, adaptation strategies,
and environmental accountability. Egwim stressed that previous international
calls for climate funding from the Global South have largely been ignored
and called for Nigeria to implement robust adaptation and litigation
measures to combat climate change.
Placards at the march included messages such as: "Prioritize agroecology in
state budgets," "Climate adaptation is not charity, it's justice," "Nigeria
can't achieve sustainable development without climate resilience," and "Hold
polluters responsible."
"Today, we commemorate the Global Week for Action on Climate Justice, a time
to raise awareness of climate issues worldwide," Egwim said. "We have seen
unprecedented flooding, rising food insecurity, and other disasters, largely
due to years of ignoring climate issues. We call on governments and citizens
to take action for a just transition in climate policy."
SSDO has been training young farmers in agroecology and related practices to
encourage broader participation in climate adaptation and litigation. Egwim
highlighted specific climate impacts in Nigeria, including rising food
prices (e.g., garri), food shortages, flooding, erosion, and unpredictable
rainfall patterns affecting agriculture.
He urged both governments and citizens to prioritize climate action through
budgeting, reducing water and electricity consumption, maintaining
environmental cleanliness, and avoiding improper waste disposal that blocks
drainage systems and worsens flooding.
Egwim emphasized that climate change is a persistent global challenge
requiring collective efforts for adaptation and mitigation and called on
everyone to join hands in addressing the crisis.
Read the original article on Vanguard.
Liberia Signs Five-Year Country Programme Framework With Iaea
Monrovia — Liberia has signed a new Country Programme Framework with the
International Atomic Energy Agency for the period 2026 to 2030. The
agreement outlines key areas of technical cooperation focused on
agriculture, health, radiation safety, and environmental protection
The signing ceremony took place on September 17, 2025, in Vienna, Austria.
Liberia's Minister of Agriculture, Alexander Nuetah, and the IAEA Deputy
Director General and Head of the Department of Technical Cooperation, Hua
Liu, signed the document on behalf of their respective institutions
The framework was developed in collaboration with the Ministry of Foreign
Affairs serving as the liaison office, the Environmental Protection Agency
as the designated national authority, and the Ministries of Agriculture,
Health, Mines and Energy. It also involved contributions from United Nations
partners including UNDP, FAO, and WHO
The Country Programme Framework aligns with Liberia's national development
plan, the ARREST Agenda for Inclusive Development covering 2025 to 2029.
This national plan prioritizes food security, infrastructure, governance,
human capital development, sanitation, and other key sectors. The CPF is
designed to support these goals through targeted technical cooperation
activities with the IAEA
Under the new agreement, five priority areas have been identified. These
include nuclear and radiation safety and security through the establishment
of a regulatory framework and an independent authority.
In the area of food and agriculture, the CPF will promote nuclear
technologies to boost crop and livestock productivity, improve food safety,
and encourage sustainable soil and water management.
For health and nutrition, the plan includes the establishment of a
radiotherapy facility and the use of nuclear techniques to assess maternal
and child nutrition. In energy and industry, the focus will be on
strengthening national capacity in energy planning using IAEA tools and
supporting strategy development.
The water and environment sector will see efforts to build technical
capacity for applying isotopic techniques to manage water resources
sustainably
Liberia has been a member of the IAEA since 1962 and continues to promote
the peaceful use of nuclear technology. In recent years, the country has
renewed its participation in IAEA technical cooperation programs and the new
CPF further strengthens this partnership
The CPF process involves close dialogue between the IAEA and its member
states to ensure national ownership of projects, alignment with development
priorities, and the sustainability of cooperation activities. It also
encourages partnerships between national institutions, the United Nations,
and international organizations
The signing was witnessed by officials of the IAEA, Liberia's Permanent
Mission in Vienna, and international development partners. Minister
Counselor for Public Affairs at the Liberian Mission, Augustine Hamelberg,
highlighted the significance of the CPF in supporting Liberia's social and
economic transformation through science and innovation.
Read the original article on FrontPageAfrica.
Liberia: Govt Set Petrol Policy 'Without Consultation'
Members of the Petroleum Terminal Owners Association of Liberia have sharply
criticized the Senate's recent recommendation to slash storage fees, warning
that the policy could bankrupt private operators, threaten hundreds of
millions of dollars in investments, and destabilize the nation's petroleum
supply chain.
Speaking on OKFM's Morning Rush program on Thursday, Foday Massaquoi and
Robert R. Wherboe, Jr. argued that the government's new petroleum pricing
circular, meant to bring relief at the pump, is both economically and
legally flawed.
"Firstly, who is recommending the reduction of the storage fee? It is the
Senate. That is an inherent fundamental contradiction," Massaquoi said. "The
Senate is a political house. According to the law that created the LPRC in
1989, it is the company--not the Senate--that should regulate petroleum
importation and storage."
Massaquoi accused lawmakers of politicizing what should have been a strictly
economic decision.
"This is more of an economic and business issue than a political issue. You
don't just wake up one morning and slash fees that companies rely on to pay
international loans, service debts, and maintain operations. That is not
sustainable."
He noted that the companies affected have 20-plus-year agreements with the
government, under which the storage fee was set at 35 cents per liter. The
Senate recommendation to reduce the fee to 5 cents represents an 86% cut, a
move that Massaquoi says "ignores decades of legal agreements and financial
obligations."
"Yes, the LPRC is violating the agreement. To reduce it to 5 cents--without
consultation--is unjust and could bankrupt the sector," he said.
Wherboe warned that the policy could have catastrophic effects on local
businesses and employees.
"This policy will definitely jeopardize and put Liberian-owned businesses
into an unsustainable position that will lead them to go out of the market
and lay off people," he said. "Thousands of Liberians work there as drivers,
in maintenance, and in administration. Some of these institutions spend over
US$100,000 monthly on salaries alone. Bringing such an overnight policy,
without consultation, is unfair and dangerous."
He stressed that these investments were financed through international
capital debt, with operators relying on fee revenues to service loans and
maintain operations.
"These companies leveraged their credibility to secure funding and build
storage infrastructure. You cannot just remove their ability to recover
costs overnight," Wherboe said.
The terminal owners also raised concerns about potential conflicts of
interest involving Senator Prince Moye, who has reportedly championed the
fee reduction. Massaquoi described the situation as "nepotism and political
interference."
"Senator Moye's wife sits on the LPRC board. The Senate cannot be making
political recommendations on a matter that should be strictly economic,"
Massaquoi said.
The leaders criticized the Senate for failing to consult the affected
terminal operators, who are the key stakeholders.
"You cannot make a decision in the absence of the people who will be
directly affected," Wherboe said. "The Senate should have invited the
terminal owners to the table. Instead, they rushed a recommendation that
undermined the entire business environment."
Massaquoi added that proper consultation could have prevented the current
impasse:
"Before any reduction, both the government and the importers should
calculate operating costs, expenses, and revenue to determine a fair margin.
That was never done. This is why the policy is unfair and unworkable."
Both Massaquoi and Wherboe emphasized that the fee reduction will not
translate into lower pump prices.
"Prices of petroleum products are not set by the government of Liberia; they
are set internationally. The government only regulates, it does not fix
prices," Massaquoi explained. "So, cutting storage fees will not make fuel
cheaper--it will only destroy local businesses."
Wherboe added that misinformation and political propaganda have contributed
to public confusion.
"People think slashing the fee will automatically lower fuel prices. That is
a misunderstanding of how the market works," he said.
The Association made it clear that it is not opposed to reducing fees but
insists that it be done fairly and in consultation with operators.
"We are not against the reduction of fees. But it must be done in a way that
benefits both the government and terminal operators. You calculate the
operating costs, the revenue, and the expenses--then you find a fair
margin," Massaquoi said.
Wherboe stressed that failure to engage stakeholders threatens investor
confidence.
"Already, for seven to ten years, there has been almost no foreign direct
investment in Liberia. Policies like this will only worsen that situation,"
he said.
The terminal owners warned that if such policies continue unchecked, other
sectors could be affected.
"Today it is the petroleum terminals. Tomorrow it could be rice importers,
or even radio stations. Any independent business could be targeted. That is
why we are speaking out," Wherboe said.
Massaquoi concluded with a strong rebuke of the Senate:
"The Senate must do the honorable thing. Stop calculating only revenues
without considering expenses. If this money truly benefits the Liberian
people, let it go into a reform fund for health or education--not into
LPRC's account. Otherwise, this is the highest form of wickedness."
With over 300 million dollars in private investments potentially at risk,
the Petroleum Terminal Owners Association is calling on President Joseph
Boakai and the government to intervene before irreversible damage occurs.
They have urged for a national dialogue that includes terminal operators,
government regulators, and lawmakers to ensure that any reduction in fees is
fair, transparent, and sustainable.
"We are advocates for the marginalized and for Liberians who depend on these
jobs. This is not about politics--it is about survival, economic fairness,
and national interest," Massaquoi said.
The controversy highlights the delicate balance between regulation,
political influence, and private sector investment in Liberia's petroleum
industry. Analysts say the outcome of this dispute could have far-reaching
effects on both the sector and the broader economy if not addressed
urgently.
Read the original article on Liberian Observer.
Liberia: 'Protecting the Liberian Dollar, Preserving Our Pride'
The Central Bank of Liberia (CBL) is taking a bold action to protect the
Liberian dollar with the launch of a nationwide "Clean Note Campaign: Our
Money, Our Pride." The official launch is set for Friday, September 19,
2025, at the Rally Time Market in Monrovia.
This initiative is in response to the alarming rate of mutilation of the
Liberian dollar banknotes and coins, caused by poor handling practices such
as squeezing, writing, stamping, stapling, exposing notes to dirt and
moisture and melting coins; damaging up to about L$1B of the new family of
banknotes printed in 2022. These habits not only undermine the appearance of
the national currency but also cost the country millions of dollars to
replace.
With the Clean Note Campaign, the CBL is putting every Liberian at the
center of a movement to preserve the dignity of the nation's currency,
strengthen confidence in the economy, and promote national identity.
Ahead of the launch, campaign teams will hit the streets with a two-day
float across Monrovia, using music, drama, and community engagement to drive
home the message: "Our Money, Our Pride--Handle It with Care." Those
damaging the currency risk a fine of five hundred thousand Liberian dollars
or serve a two-year jail term.
The campaign has already secured strong backing from key national
stakeholders, including all nine Commercial Banks, the Liberian Marketing
Association, the Liberia Business Association, the National Association of
Foreign Exchange Bureaus, National Street Vendors and Scratch Card Dealers
Association of Liberia, and the Merged Federation of Motorcyclists and
Tricyclist Union of Liberia. These groups have pledged to mobilize their
members to take ownership of the campaign and push its message nationwide.
CBL Executive Governor, Henry F. Saamoi made it clear that the campaign is
about more than just preserving paper notes: "The Liberian dollar is a
symbol of our sovereignty. When we disrespect our money, we disrespect
ourselves as a people. The Clean Note Campaign challenges every Liberian to
take responsibility, not only to safeguard the value of our currency but to
show pride in our national identity."
Governor Saamoi stated that the launch is just the beginning of a sustained,
nationwide push: "This is not a one-off event. We are rolling out radio
programs, community theater, grassroots outreach, and direct market
engagements across Liberia. Whether you are a vendor, taxi driver, student,
or office worker, this campaign speaks to you. Together, we can save the
country millions in printing costs and demonstrate nationalism and respect
to the Liberian dollar."
The CBL is urging the public to actively support the campaign, join the
awareness activities, and become champions of the message: "Our Money, Our
Pride - Handle It with Care."
Meanwhile, the leadership of the Liberia Business Association (LIBA) and the
Liberian Marketing Association (LMA) extend their full support to the
national Clean Note Campaign: "Our Money, Our Pride", led by the Central
Bank of Liberia.
"As key stakeholders in Liberia's business and marketing sectors, we
recognize the vital role that clean and well-preserved banknotes play in
promoting smooth trade, protecting public health, and safeguarding our
national currency.
"We are aware that the poor handling of banknotes by defacing, writing,
stapling, squeezing, or exposing banknotes to unclean environments
undermines the quality of the Liberian dollar, increases replacement costs
for the Government, and reflects poorly on our national pride," the release
said.
The Clean Note Campaign presents an opportunity for every Liberian to take
responsibility for the proper handling of our money. Therefore, we jointly
call on:
Our respective members across markets and businesses lead by example in
preserving the integrity of the Liberian dollar.
Street vendors, shopkeepers, transport operators, and consumers join hands
in supporting this national effort.
The wider public embraces the campaign's simple but powerful message: "Our
Money, Our Pride: Handle it with Care."
Speaking on behalf of LIBA, its President, Mr. James M. Strother, stressed
that "a clean currency enhances business transactions and builds public
confidence. LIBA encourages all business operators to treat our money with
respect, because the way we handle our currency reflects how we value our
economy."
For her part, Madam Elizabeth F. Sambollah, President of the Liberia
Marketing Association, emphasized the crucial role the leadership of the LMA
can play in ensuring the success of the campaign.
"Our market women and men are at the frontlines of daily transactions. We
are proud to stand with the CBL in this campaign and will use our structures
to educate our members on why proper handling of money is critical for our
economy and national pride," she said.
LIBA and LMA reaffirm their commitment to work with the CBL and other
partners to ensure the success of this campaign nationwide.
Together, we can extend the life of our banknotes, reduce replacement costs,
and strengthen public trust in the Liberian dollar.
Read the original article on Liberian Observer.
Africa Needs Partnership, Not Handouts - Gov Lawal Speaks At Canada-Africa
Trade Expo
Zamfara State Governor, Dauda Lawal, has said that Africa does not seek
charity but authentic collaboration founded on mutual respect, fairness, and
shared values.
Lawal, who was the keynote speaker at the Canada-Africa Trade and Investment
Expo 2025, stated this on Wednesday at the Toronto Marriott City Hotel,
Canada.
A statement by his spokesperson, Sulaiman Bala Idris, noted that the expo,
themed "Strengthening Canada-Africa Partnerships in Trade, Investment, and
Sustainable Growth", aimed to unite both continents around the goals of
prosperity, innovation, and sustainability.
According to Governor Lawal, Canada's democratic traditions, robust economy,
responsible mining, and innovative private sector make it a natural partner
for Africa.
"If Africa is to realize its potential fully, we must recognize that
development is not just a matter of national policy; it is also a function
of sub-national action," he said.
He stressed that while federal governments provide policy direction, "it is
within our states, provinces, and Local Governments that the promises of
trade, investment, and growth must be translated into tangible realities."
Lawal said his presence at the event underscored the crucial role of
sub-national governments in driving Africa's renaissance.
"Sub-national Governments are the places where farmers cultivate the crops
that feed nations, where mining operations either succeed or fail, where
young people seek opportunities, and where investors look for clarity,
stability, and fair return," he added.
The Governor explained that Zamfara is deliberately reshaping its governance
and investment climate to attract responsible partners who share values of
transparency, accountability, and sustainability.
"Agriculture is central to our economy. With over 70 per cent of its land
arable, Zamfara could become a food basket for Nigeria and the African
continent," Lawal said.
He called for partnerships in mechanization, irrigation, post-harvest
management, storage, and agro-industrial chains, adding that Canadian
expertise, paired with Zamfara farmers' resilience, could set a new model
for food security in Africa.
Beyond agriculture, Lawal pointed to Zamfara's rich solid minerals such as
gold, lithium, manganese, and granite, which are vital for energy
transition.
"We aim to learn from past mistakes, ensuring resource wealth translates to
prosperity, not just extraction. We are strengthening regulations, promoting
responsible mining, and benefiting local communities," he said.
He urged Canadian partners to "look beyond Africa's capitals to its
heartlands, farms, schools, industries, and communities, where true
partnerships will thrive."
Vanguard News
Read the original article on Vanguard.
Nigeria, 7 African Countries Endorse Petroleum Regulators' Charter
Nigeria and seven other African countries have endorsed a landmark charter
establishing the African Petroleum Regulators Forum (AFRIPERF), setting a
new course for harmonised petroleum regulation and investment promotion
across the continent.
The signing ceremony occurred on Thursday, on the sidelines of the 31st
Africa Oil Week in Accra, Ghana, chaired by the chief executive of the
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and interim
chairman of AFRIPERF, Engr. Gbenga Komolafe.
The NUPRC, which made this known, stated that regulators from 16 African
countries attended, but eight--including Nigeria, Ghana, Somalia, Gambia,
Madagascar, Sudan, Guinea, and Togo--officially signed the AFRIPERF Charter.
Following the endorsement, Komolafe described the occasion as "a decisive
step towards a harmonised and sustainable petroleum industry in Africa." He
explained, "This Charter is not just a document--it is a commitment by
African nations to manage our hydrocarbon resources responsibly and
innovatively in the face of global energy transitions."
He emphasised the importance of cooperation to elevate Africa's petroleum
sector: "By working together, we will enhance investment opportunities,
create clear and consistent rules, and ensure transparency that benefits all
stakeholders."
Tracing the Forum's origins, he said, "From the initial proposal last year,
through our inaugural meeting in July 2024 and subsequent gatherings, we
have built strong foundations for this continental partnership. Today's
signing is the culmination of these collective efforts."
The AFRIPERF Charter establishes three key bodies: an Executive Committee
made up of heads of regulatory agencies to guide implementation; a Technical
Committee comprising experts to address specific regulatory challenges; and
a Secretariat to coordinate activities. "These structures provide the
functional pillars for delivering tangible results with accountability and
timelines," Engr. Komolafe noted.
"The Charter explicitly aims to harmonise petroleum regulations across
Africa," he said. "This harmonisation is essential for reducing regulatory
fragmentation, attracting international investment, and safeguarding safety
and environmental standards."
Chairman of Nigeria's Senate Committee on Upstream, Senator Etang Williams,
attended the event as an observer and welcomed the development. "This is a
significant milestone for Africa's oil and gas sector," he said. "A united
regulatory front strengthens our negotiating power and enhances sector
governance."
AFRIPERF's mission, as outlined in the Charter, is "to enhance cooperation
and collaboration among African petroleum regulators to ensure a safe,
efficient, rewarding, equitable, and sustainable petroleum industry." Its
vision is to become "the premier platform for African regulators to share
knowledge and best practices in petroleum governance."
Engr. Komolafe highlighted the Forum's broader benefits: "Beyond
harmonisation, AFRIPERF will promote ethical practices, transparency,
technology adoption--including digitalisation and renewable integration--and
support emission reduction efforts."
He proposed aligning AFRIPERF's Annual General Meeting with Africa Oil Week
to maximise engagement. "This partnership will strengthen our collective
voice and facilitate shared learning."
AFRIPERF is poised to transform Africa's petroleum landscape. Eight nations
have signed the Charter, and seven others have pledged support. The next
steps include electing the Forum's Chairperson, nominating representatives
from member regulators, and designating its headquarters.
"This is a historic day," Engr. Komolafe concluded. "Together, we are
setting the foundation for Africa's petroleum future--collaborative,
sustainable, and investment-friendly."
Read the original article on Leadership.
Murdochs likely to be involved in US TikTok deal, Trump says
Rupert Murdoch and his son Lachlan are expected to be part of a group of
investors trying to buy TikTok in the US, President Donald Trump says.
In a Fox News interview that aired on Sunday, Trump said the men would
"probably" be involved in a proposed deal to keep TikTok operating in the
US. He also said Oracle chairman Larry Ellison and Dell founder Michael Dell
would likely be involved.
"I think they're going to do a really good job," Trump said, describing the
men as "American patriots".
The president, who called his Chinese counterpart earlier this week, said
the US and China were making progress on a deal that would see the social
media platform's American operations sold to US investors.
The sale is required because of a law passed by Congress in April 2024 that
would ban the app unless its Chinese parent company ByteDance sells its US
arm.
That law was proposed over fears that Beijing could access the personal data
of TikTok's 170m American users. Its enforcement is on hold pending a deal.
When asked about who was involved in the proposed TikTok deal, Trump told
Fox's The Sunday Briefing that "they're very well-known people" who would
raise a "tremendous amount" of money.
"Larry Ellison is one of them. He's involved. This great guy, Michael Dell
is involved. I hate to tell you this, but a man named Lachlan is involved.
Do you know who Lachlan is?" he said. "And Rupert is probably going to be in
the group."
Lachlan Murdoch recently took over Fox Corp and News Corp, the family's
media empire, bringing a lengthy succession battle with his siblings to a
close. Rupert Murdoch, 94, is chairman emeritus of News Corp.
After Trump's comments on Sunday, US media reports suggested the Murdoch's
would not be investing in a personal capacity but instead through Fox Corp.
Their media empire includes the Wall Street Journal and Fox News, and they
are known for their conservative views and right-leaning media outlets. But
they have also occasionally drawn the ire of Trump, who is currently suing
the Wall Street Journal for defamation over a report alleging he signed
Jeffrey Epstein's birthday book.
The White House has raised expectations that a deal is on the verge of
completion amid political pressure to take the social media app's US
operations out of the hands of its Chinese owners ByteDance.
On Saturday, White House Press Secretary Karoline Leavitt said a deal could
be signed "in the coming days".
Leavitt, who was also speaking to Fox, said data and privacy for the app in
the US would be led by Oracle and "the algorithm will also be controlled by
America as well".
The proposed TikTok deal raises the prospect of the Murdochs and the
Ellisons, now two of the country's most powerful families in US media,
gaining significant influence over one of America's most popular social
media apps.
China has not confirmed whether a deal has been agreed.
China's official state news agency Xinhua's account of Trump's conversation
with Xi reported the Chinese premier as as saying that Beijing "welcomes
negotiations".
On Saturday, China's Commerce Ministry said in a statement: "China's
position on TikTok is clear: The Chinese government respects the wishes of
the enterprise, and welcomes it to carry out commercial negotiations in
accordance with market rules to reach a solution compliant with China's laws
and regulations, and strikes a balance of interests."
ByteDance has not yet commented on Trump's latest remarks.-bbc
Modi's tax cuts will give India a festive spending boost
Starting Monday, the daily economic burdens of millions of Indians could
ease slightly.
Staples like milk and bread, life and medical insurance and life-saving
drugs will become tax-free. Consumption tax on small cars, television sets
and air conditioners will drop from 28% to 18%. And other common goods like
hair oil, toilet soap and shampoo will be taxed at a marginal 5% instead of
12% or 18%.
The sweeping cuts are part of Prime Minister Narendra Modi's major overhaul
of India's complex goods and services tax (GST) regime announced earlier
this month.
This is expected to both simplify the tax code and give flagging household
consumption - which makes up over half of India's gross domestic product
(GDP) - a much-needed fillip.
India GST: The ‘cheesy’ row over pizza toppings tax
The timing couldn't be more opportune.
Lower GST rates coincide with the beginning of a long festive season when
Indians typically open their purse strings to buy everything from new cars
to clothes.
This four-month period also brings in a bulk of yearly sales for consumer
goods companies such as packaged food makers and apparel manufacturers.
The hope is, reduced taxes will mitigate some of the impact of the US's
bruising 50% tariffs on India, leave people with more money to spend and
spruce up the domestic economy.
Vishnu Vardhan Two men - one in a black t-shirt and the other in white -
looking at two-wheelers inside a showroom in Mumbai.Vishnu Vardhan
Share prices of auto companies are up 6-17% since the tax revisions were
first announced
The cuts come off the back of a $12bn income tax giveaway announced in
February and lower interest rates from India's central bank, all of which
bode well for a consumption pick-up.
Companies, including Reliance, consumer staples giant HUL, and automaker
Mahindra & Mahindra will pass on lower taxes to consumers to boost demand.
Carmakers are banking on the cuts, with share prices up 6-17% since Modi's
August announcement, while dealerships report rising enquiries amid unsold
inventory.
At a Mumbai showroom of Hero Motocorp, India's largest motorbike
manufacturer, a dealer told the BBC that he expected sales to jump 30–40%
over the next two months compared to last year.
"Easing the cost burden of first-time owners has increased enquiries and
footfall," Ashutosh Varma, Hero India's chief business officer, told the
BBC. This is especially so for "cheaper variants", he said, where price
sensitivity is the highest.
Vishal Pawar, a software developer who was at the showroom, said he's
considering upgrading to a 200cc bike this year.
"The best time to buy is when festival discounts and tax cuts overlap. I'll
make the purchase during the Dussehra festival," Mr Pawar said.
Vishnu Vardhan A woman wearing a white salwar-kurta and a blue stole shops
for hand-bags from a roadside vendor in Mumbai. Vishnu Vardhan
Reduced taxes will mitigate the impact of the US's 50% tariffs on India
Companies that make consumer goods are also upbeat about a pick-up in
demand.
Sabyasachi Gupta of Godrej Enterprises said the tax cuts coupled with a good
harvest could go some way in expanding the market for discretionary goods
like air-conditioners beyond the metro cities.
But the changes have led to a last-minute scramble among companies like his
- right from reprinting labels to reflect new prices and balancing
production with uncertain demand.
"We're keeping old and new labels side by side so consumers can see their
savings," Mr Gupta told the BBC.
Among smaller brands and shopkeepers, news of the tax changes is slow to
reach, and many say they lack the capacity to adjust pricing and packaging
on short notice.
In Mumbai's iconic Crawford Market, the city's biggest wholesale and retail
hub where everything from spices to sequins are sold, few shopkeepers were
aware of changes to GST slabs.
Those who knew about it were confused.
Sheikh Rehman, who owns a crockery store, said he was still negotiating with
his suppliers on how to manage taxes on the inventory he had already
purchased.
Next door, at a bridal showroom there was disappointment. The government has
cut GST on garments costing less than $29 (£21.2) to 5%, but items priced
above that figure now face a higher levy of 18%.
Wedding outfits rarely cost less than $29, meaning nearly every ensemble in
Naresh G's store will attract a higher tax. This could have a cascading
impact across the supply chain from craftsmen to designers and retailers.
"Indians spend a lot on wedding clothes and the season is just about to
start, the tax hikes may take away some of the shine," Mr Naresh said.
Vishnu Vardhan A busy street scene with roadside vendors and cloth merchants
carrying their goods in Mumbai's Crawford market area. Vishnu Vardhan
Information about the tax changes has still not trickled down to small
shopkeepers
At a net level though, the impact of the GST cuts is expected to be largely
positive.
According to ratings agency Crisil, lower taxes will benefit a third of an
average consumer's monthly expenditure basket and improve the middle class's
purchasing power.
The extent of the impact will depend on "the degree to which producers pass
the rate cuts to consumers", Crisil said in a report, adding that the impact
will play out over this and the next financial year.
The cuts, of course, come at a cost.
The government predicts they could lead to a revenue loss of around $5.4bn
this year. But independent experts and rating agencies like Moody's expect
the figure to be higher, with the strain on the exchequer "even more
pronounced" in the coming years.
These losses add to a bleak macro picture: federal tax revenues have barely
grown in the first four months, compared with a 20% jump last year, while
spending is already up more than 20%.
With Delhi intent on keeping its fiscal deficit - the gap between revenue
and expenditure - in check, the Modi government may have to hit the brakes
on the big-ticket road and port spending that has driven India's growth over
the past five years.-bbc
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