Major International Business Headlines Brief ::: 15 December 2025

Mon Dec 15 14:55:23 CAT 2025

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Major International Business Headlines Brief :::  15 December  2025 

 <mailto:info at bulls.co.zw> 

ü  Africa: When It Comes to Aviation Industry, Africa is Area of Potential,
Rather Than Performance, Says IATA

ü  South Africa: Western Cape Urges Compliance With Water Restrictions

ü  Liberia's Ivanhoe Deal Revives Cross-Border Vision With Guinea

ü  Nigeria: Dangote Alleges Economic Sabotage, Sleaze At Nmdpra, Demands
Investigation of Chief Executive

ü  Kenya: Government to Expand Nairobi Central Railway Station Capacity

ü  Namibia to Change Interbanking Rates

ü  Liberia: CBL Formalizes Iips Operations With Mobile Money, Orange Money

ü  Namibia to Change Interbanking Rates

ü  Liberia: CBL Formalizes Iips Operations With Mobile Money, Orange Money

ü  Tanzania: Tanga Steps Up Digital Drive to Unlock Youth Economic Potential

ü  Nigeria: NMDPRA CEO Must Be Probed, Prosecuted for Graft, Economic
Sabotage - Dangote

ü  Uganda: Museveni, UAE Investors Discuss Construction of Inland Port in
Uganda

ü  Ghana: ECG Assures Customers of Quality Service Delivery

ü  Ghana: Sic to Introduce Mandatory Travel Insurance for Foreign Nationals
- MD

ü  Africa's Business Heroes 2025 Awards Top Three Entrepreneurs

 <mailto:info at bulls.co.zw> 

Africa: When It Comes to Aviation Industry, Africa is Area of Potential,
Rather Than Performance, Says IATA

Geneva — For the international aviation industry, Africa remains an area of
potential rather than performance, the International Air Transport
Association said this week in open days for the media at IATA's executive
office in Switzerland.

"While deliveries of new aircraft began to pick up in late 2025 and
production is expected to accelerate in 2026, demand is forecast to outstrip
the availability of aircraft and engines," Willie Walsh, director general of
IATA, told journalists giving a global picture during the Dec 9-10 meeting.

He said, "While Africa is expected to outpace global traffic growth next
year, the region continues to face some of the world's toughest operating
conditions."

This results in the smallest share of global industry profit and extremely
thin margins."

At a press conference, Walsh said, "One of the cheapest areas of renewable
energy will be Africa. Some of the lowest cost renewable energy can be
produced in Africa", which he noted has "fantastic access to solar energy".

"or Africa, we see a real opportunity for the potential to produce low-cost
synthetic fuels," noting it is a long-term issue.

Conversely, the highest cost for renewable energy is in Europe, whereas
Europe is way out in front of mandating the use of electronic Sustainable
Aviation Fuel.

-  DIGITAL PASSPORTS

When it comes to the use of digital passports, Walsh sees it as another
great opportunity for Africa, "If you can get a global standard for this",
and if it can embrace a global standard", there is great potential rather
than each country developing its own system.

The IATA chief said that the opportunity to homogenise the system is
fantastic as IT can provide a much better system for both consumers and
movernments.

It is also much cheaper to implement an IT infrastructure that meets global
standards.

Kamil Al-Awadhi, IATA regional vice president, Africa and Middle East,
echoed Walsh's thoughts.

"Africa's aviation potential is immense. With the third-fastest growth rate
in the world over the next two decades, the continent could serve more than
400 million passengers annually by 2044.

He said there are encouraging steps—such as improved visa openness and the
adoption of e-visas—that support greater mobility and integration.

"But turning potential into performance requires action. Governments must
treat aviation as a catalyst for development, not a source of revenue," he
cautioned.

"With the right policy support, aviation can be a powerful driver of
economic transformation across Africa," said Al-Awadhi.

IATA forecasts global air travel growth of 4.9 percent in 2026, slightly
below the 5.2 percent expected in 2025. Africa is projected to exceed the
global average with 6.0 percent growth in 2026.

"Despite above-average demand, the financial outlook remains challenging. Of
the $41 billion in global net profit forecast for 2026 (3.9 percent margin),
Al-Awadhi noted.

-         LOWEST MARGINS

African carriers are expected to generate just $200 million in combined
profits, representing a 1.3% margin— the lowest of all regions. This equates
to $1.3 in profit per passenger, compared to a global average of $7.9.

"Demand for air travel in Africa is rising faster than in many other parts
of the world, but profitability is not keeping pace.

"With margins of just 1.3 percent, African airlines are capturing only a
fraction of aviation's economic value. Addressing the barriers that
constrain growth is essential to ensure the region's traffic expansion also
delivers financial strength," said Al-Awadhi.

He said that 44 per cent of African countries offer e-visas, but these are
not standardised.

"As always in Africa, unfortunately, they are all going their own way."

He was asked about airport charges

"It is shocking to me that there is one part of Africa saying we need to
increase interconnectivity; we want airlines to prosper because they bring
people in; aviation contributes to GDP.

"And then you have the other entity squeezing everyone out of the airlines,
adding charges, taxes, fees, levies, making it almost impossible for any
aviation to grow in Africa...Some of these prices are ridiculous.

He mentioned, for example, charges in Tanzania of $48 for a one-way ticket
or $96 for a return ticket, to meet a government security requirement that
has nothing to do with the airlines or the passengers.

The rest of the world might charge $3 or $4, and some countries don't charge
at all.

"So how do you want anything Tanzania to grow?" asked Al-Awadhi.#

South Africa: Western Cape Urges Compliance With Water Restrictions

The Western Cape government has imposed water restrictions across the
province to curb potential shortages during the hot, dry summer months,
reports EWN. S everal towns identified as high risk for water insecurity.
Provincial authorities are closely monitoring the situation, with level six
restrictions implemented in Dysselsdorp and De Rust in the Klein Karoo,
while level four restrictions apply to Knysna, Plettenberg Bay, Kurland
Village, Nature's Valley, Witsand, Calitzdorp, Van Wyksdorp, Ladismith and
Zoar. Several other towns across the province face level one to level three
restrictions, while Cape Town has been left unaffected. MEC Anton Bredell
has urged residents and visitors to familiarise themselves with and strictly
adhere to the restrictions.

Western Cape Sounds Alarm Over Rising Festive Season Road Deaths

The Western Cape Department of Mobility has expressed concern over the
rising number of road crashes and fatalities linked to negligent and
reckless driving, reports SABC News. Minister Isaac Sileku has said that 37
people have died in 28 crashes over the past two weeks as traffic volumes
increase during the festive season. Authorities have intensified
high-visibility patrols and roadblocks across the province. Sileku has urged
motorists to act responsibly, stressing that the deaths represent families
forever changed and lives lost that could have been saved through safer
driving choices.

Zuikerbosch System Slowly Restored After Outage

Johannesburg Water has urged residents in affected parts of the city to be
patient as water supply from the Zuikerbosch system is gradually restored
following a 48-hour outage, reports EWN. The outage is part of planned
maintenance by bulk supplier Rand Water, which will take place in three
phases until 8 January. The first phase took place from 13 to 15 December,
with the second scheduled for 19 to 21 December and the final phase from 6
to 8 January. Managing director Ntshavheni Mukwevho warned that residents
should expect low water pressure, intermittent supply and, in high-lying
areas, possible full outages and slower restoration. Areas such as Lenasia,
Randburg and parts of Johannesburg have already been affected, while the
next phase will impact sections of the Eikenhof system, including Power
Park, Doornkop, Zondie, Braamfischer and Lenasia. Water tankers will be
deployed to support communities during the maintenance period.

More South African news

Liberia's Ivanhoe Deal Revives Cross-Border Vision With Guinea

Liberia's House of Representatives has passed the long-anticipated Ivanhoe
Atlantic Concession and Access Agreement, setting the stage for Senate
concurrence in the coming days. But beyond the legislative milestone, this
vote carries a deeper regional message: Liberia is ready to fulfill the
vision of cross-border cooperation enshrined in the 2019 Implementation
Agreement between Liberia and Guinea -- a treaty that both nations ratified
to enable free movement of goods, shared infrastructure, and mutual
prosperity.

The timing is significant. For the first time in years, both countries now
have full diplomatic representation in each other's capitals. In October
2025, Liberia's newly appointed Ambassador to Guinea, H.E. Forkpa Gizzie,
presented his credentials in Conakry, pledging to deepen bilateral relations
and expand trade and economic cooperation between the two neighbors. His
remarks echoed the very spirit of the Implementation Agreement--"the free
movement of goods, services, and persons across our shared borders."

This renewal of diplomacy complements a parallel moment on the Liberian
side. Earlier, in July 2024, Guinea's Ambassador to Liberia, H.E. Aboubacar
Sylla, presented his Letters of Credence to President Joseph Nyuma Boakai,
Sr., who warmly welcomed him and reaffirmed Liberia's commitment to
strengthening bilateral ties within the Mano River Union (MRU).

"We must collaborate with our neighbors to foster prosperity, peace, and
security," President Boakai said, underscoring Liberia's "unwavering
dedication to promoting peace and fostering open relations with all
nations."

That statement, made more than a year before the House's decisive vote, now
rings prophetic. The Concession and Access Agreement (CAA), driven by
Ivanhoe Atlantic, is not merely an investment contract -- it is the first
real operationalization of the Liberia-Guinea Implementation Agreement
ratified by both governments in 2020 and 2021.

The bilateral framework, signed in October 2019 and later validated by both
nations' legislatures and constitutional courts, was designed to let Guinean
mining companies -- especially those in the Nimba Mountain range -- export
their iron ore and other natural resources through Liberia's Yekepa-Buchanan
rail and port corridor. It also guarantees Liberia the right to share in the
benefits through infrastructure usage, fees, and expanded trade.

For years, however, that agreement remained largely dormant, in part because
Liberia lacked a full ambassador in Guinea since 2019. That diplomatic gap
raised questions about coordination and commitment. Now, with full
representation restored on both sides, the pieces are finally falling into
place.

The passage of the Ivanhoe Atlantic Agreement breathes life into the
Implementation Agreement's core vision -- regional integration through
shared infrastructure. It aligns with Article 1.2 of the treaty, which
commits both countries to promoting "the shared use of transport
infrastructure... to bolster mining development, contribute to sub-regional
integration, and strengthen the socio-economic development of both
countries."

It also fulfills Article 6.2, which recommends the use of "an independent
operator" for rail management -- ensuring that no single company monopolizes
the corridor, a major concern in Liberia's recent policy debates.

In this light, the House's approval is as much a domestic decision as it is
a regional signal -- to Guinea, to ECOWAS, and to the world -- that Liberia
is ready to honor its commitments and lead the way in building a multi-user,
cross-border infrastructure system that benefits both nations.

With the Senate expected to concur soon, Liberia and Guinea stand on the
threshold of something their predecessors envisioned more than half a
century ago. The first Transit Agreement between the two countries was
signed in 1973. The Implementation Agreement of 2019 -- and now, the Ivanhoe
CAA -- represent the next, decisive step toward making that vision real.

Ambassador Gizzie's appointment, following years of diplomatic silence,
gives Liberia a stronger voice in Conakry at precisely the right time. His
presence ensures that coordination, trust, and transparency will no longer
be left to chance. "The future of Liberia and Guinea is intertwined," Gizzie
said in October, "and our shared prosperity depends on how well we work
together."

With both ambassadors now in place, President Boakai's government has a
clear diplomatic channel to drive what the bilateral treaty once only
promised: the free and fair flow of trade, investment, and opportunity
between two nations that share more than a border -- they share a destiny.

In the coming days, as the Senate gives its concurrence, the world will be
watching to see whether this generation of leaders can finally turn a
50-year-old vision into a working corridor of commerce and cooperation --
one that truly embodies the spirit of the Mano River Union: peace,
prosperity, and shared progress.

Read the original article on Liberian Observer.

Nigeria: Dangote Alleges Economic Sabotage, Sleaze At Nmdpra, Demands
Investigation of Chief Executive

According to Mr Dangote, modular refineries are already struggling under the
current policy environment, while the persistent issuance of import permits
further weakens the sector.

President and Chief Executive of Dangote Industries Limited, Aliko Dangote,
has called for an investigation and prosecution of the Chief Executive
Officer of the Nigerian Midstream and Downstream Petroleum Regulatory
Authority (NMDPRA), Farouk Ahmed, accusing him of economic sabotage, which
he said is undermining domestic refining in Nigeria.

Speaking at a press conference at the Dangote Petroleum Refinery on Sunday,
Mr Dangote accused the leadership of the NMDPRA of colluding with
international traders and oil importers to frustrate local refining through
the continued issuance of import licences for petroleum products.

Mr Dangote claimed that Mr Ahmed was living beyond his legitimate means,
claiming that four of his children attend secondary schools in Switzerland
at costs running into several million of dollars. He said such expenditure
raised serious questions about potential conflict of interest and the
integrity of regulatory oversight in the downstream petroleum sector.

Mr Ahmed could not be immediately reached as of the time of filing this
report Monday morning. A message sent to his known telephone number was not
responded to.

Import Concerns

Expressing concern over the state of the downstream sector, Mr Dangote said
Nigeria's continued reliance on fuel imports was harming local production
and discouraging investment in domestic refining.

He disclosed that import licences covering approximately 7.5 billion litres
of PMS had reportedly been issued for the first quarter of 2026, despite the
availability of significant domestic refining capacity.

According to him, modular refineries are already struggling under the
current policy environment and on the brink of extinction, while the
persistent issuance of import permits further weakens the sector.

"I am not calling for his removal, but for a proper investigation. He should
be required to account for his actions and demonstrate that he has not
compromised his position to the detriment of Nigerians. What is happening
amounts to economic sabotage," Mr Dangote said.

He further alleged that Mr Ahmed paid as much as five million dollars in
tuition fees for his children's secondary education in Switzerland,
questioning how many Nigerians could afford such costs.

"The Code of Conduct Bureau, or any other body deemed appropriate by the
government, can investigate the matter. If he denies it, I will not only
publish what he paid as tuition in those secondary schools, but I will also
take legal steps to compel the schools to disclose the payments made by
Farouk. I sent my own children to secondary schools here in Nigeria. How
many Nigerians can afford to pay five million dollars for secondary school
tuition, not university education? In his home state of Sokoto, many parents
are struggling to pay as little as N10,000 in school fees," Mr Dangote said.

He described the downstream petroleum sector as being under severe strain,
alleging the presence of entrenched interests that profit from fuel imports
at the expense of national development.

"There are powerful interests in the oil sector. It is troubling that
African countries continue to import refined products despite long-standing
calls for value addition and domestic refining. The volume of imports being
allowed into the country is unethical and does a disservice to Nigeria," he
added.

Mr Dangote stressed the need for a clear separation between regulatory
oversight and commercial interests, warning that allowing traders to
influence regulation would undermine the integrity of the sector.

"The downstream sector must not be destroyed by personal interests. A trader
should never be a regulator. Forty-seven licences have been issued, yet no
new refineries are being built because the environment is not conducive," he
said.

He maintained that Nigerians would ultimately benefit from local refining,
even as fuel importers incur losses.

Mr Dangote said he would not relent in ensuring that Nigerians enjoy the
benefits of domestic refining, noting that the company was working around
the clock to ensure that recent reductions in the gantry price were fully
reflected at the retail level.

Read the original article on Premium Times.

Kenya: Government to Expand Nairobi Central Railway Station Capacity

Nairobi — The government has kick-started the process of expanding the
Nairobi Central Railway Station, in a bid to ease congestion and improve
connectivity within the country's capital.

According to the Environmental and Social Impact Assessment (ESIA) from the
KENYA Railways corporation for Phase One of the Nairobi Railway City
project, the station will entail other facilities, including 2-level
buildings, station entrances and exits, platforms and canopies, and access
footbridges.

According to Kenya Railways, some of the notable developments will take
place on the East side of the heritage building, where a new entrance
building connects directly to a platform bridge with access to all
platforms.

Furthermore, the corporation is set to construct a smaller facility at the
West, which will provide passgender exiting points, as well as the
construction of a second platform bridge.

To the South of the station, another entrance and exit are to be
constructed, similar to those of the Northern side, meaning that entrance
and exit would be possible from any platform to both the north and south of
the city, according to the corporation.

"A key part of the station development will be increasing capacity from two
platforms to nine platforms, facilitating a significant increase in
passenger demand and proposed new services," the report stated.

According to the ESIA report, the project will redevelop the station into a
multimodal transport interchange, integrating rail, BRT, and pedestrian
movement, while converting the current congested matatu and bus parking
areas into public parks, plazas, and recreational spaces.

The assessment found that even though the construction phase will present
challenges such as noise, dust, traffic disruption, and waste generation in
the surrounding areas, these impacts can be managed through proposed
mitigation measures, which were proposed by the National Environment
Management Authority (NEMA).

These mitigation measures include conducting regular noise survey programmes
and maintaining construction equipment, developing long-term biodiversity
landscape enhancement, practicing waste segregation during the construction
of the facilities, and minimizing machine idling time, among other measures.

"The proponent, Kenya Railways Corporation, proposes to regenerate and
redevelop the Nairobi Central Station (NCS) site into a new iconic city
Centre development that will improve accessibility and capacity of the
railway for all passengers," NEMA noted in a gazette notice dated December
11.

Kenya Railways noted that, in addition to positioning Nairobi as a leading
modern city at the global level, the project aims to bring various economic
benefits, including job creation during construction, increased land value,
attraction of investment, and improved business opportunities within
Nairobi's city centre.

Read the original article on Capital FM.

Namibia to Change Interbanking Rates

Namibian banks will soon be changing the way they lend money to clients with
the introduction of a new lending policy.

The change in the interbank rate will completely change the way interest
rates on homes, cars, properties and all types of loans are charged.

Announced by the central bank earlier this month, Nicholas Mukasa, the
director of financial markets at the Bank of Namibia, says: "Namibia will be
moving away from the Windhoek Interbank Agreed Rates (Wibar), which are
benchmark interest rates used in the Namibian financial market."

However, the central bank is yet to announce what the new rate to be used
will be.

"We are still having a discussion with the industry on the readiness and
best approach, and an announcement will hopefully be made next year," Mukasa
says.

The Wibar was introduced in 2011, which allowed banks to lend, depending on
a set prime rate.

The prime rate is calculated by adding 3.50% to the repo rate, which is set
by the Bank of Namibia.

In South Africa, the country is set to change from Johannesburg Interbank
Average Rate (Jibar) to the South African Rand Overnight Index Average
(Zaronia) in 2026, with the complete phasing out of Jibar expected by 31
December 2026.

Financial expert Mesias Alfeus says if Namibia decides to change to Zaronia,
the country will be globally recognised as risk free.

"Moving from Wibar to Zaronia would put Namibia on the same, globally
recognised risk-free footing as South Africa, improving consistency,
robustness and market integration," he says.

Alfeus says the change will mean that the prime rate will no longer solely
depend on the repo rate.

"This does not mean it will be cheaper or more expensive to borrow, but the
price of lending will no longer be solely depending on the repo," he says.

However, it will be very costly for the banking sector as a lot of loan
agreements will need to be renegotiated.

"This will not be an overnight change. It will take time and banks will feel
the the pinch, because if the rates change, past contracts will need to be
renegotiated," Alfeus says.

Overall, the move to Zaronia introduces widespread adjustments across
financial institutions, investors and consumers, underscoring the scale and
complexity of this benchmark transition.

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Read the original article on Namibian.

Liberia: CBL Formalizes Iips Operations With Mobile Money, Orange Money

The Central Bank of Liberia (CBL) has taken a major step toward transforming
the country's digital payments landscape with the signing of Participation
and Service Level Agreements with Lonestar Cell/MTN Mobile Money and Orange
Money, aimed at advancing the full operation of the Inclusive Instant
Payment System (IIPS).

The agreements, signed on Friday in Monrovia, establish the operational,
technical, and performance framework for Liberia's national instant payment
platform, paving the way for a modern, secure, and fully interoperable
payment system that allows customers to send and receive money instantly
across different mobile money networks.

Under the Participation Agreement, the CBL, MTN Mobile Money, Orange Money,
and ThitsaWorks, the national switch operator, are formally bound to work
together to ensure the smooth, secure, and transparent operation of the
IIPS. The agreement, which runs for an initial period of three years and is
renewable upon mutual consent, defines the roles and responsibilities of
each institution involved in the system.

As part of its obligations, the Central Bank of Liberia will hold and manage
settlement or liquidity accounts in both United States dollars and Liberian
dollars, process daily settlements, and ensure timely fund transfers among
participants. The CBL will also provide daily settlement reports to support
transparency and oversight, facilitate proper reconciliation of transactions
across networks, and move funds between providers based on settlement
instructions issued by the switch operator.

Speaking at the signing ceremony, CBL Executive Governor Henry F. Saamoi
described the moment as a fulfillment of a long-standing national aspiration
to deepen financial inclusion.

"For me, today's signing is a dream come true, because it has been our
aspiration to enhance financial inclusion," Governor Saamoi said. "We cannot
operate in an economy where others are excluded from financial services. We
cannot eradicate poverty from our midst if we don't bring everyone into the
same financial ecosystem."

The agreement also requires MTN Mobile Money and Orange Money to maintain
their designated settlement accounts at the CBL, keep minimum liquidity
balances to support smooth daily transactions, and allow ThitsaWorks to
transmit settlement instructions and share relevant transaction data with
the central bank for compliance and monitoring purposes.

Describing the agreement as a milestone for Liberia's financial sector,
Lonestar Cell/MTN Mobile Money General Manager, Abubakari Halidu, said the
signing represents a major breakthrough in advancing financial inclusion.

"Today's signing marks that giant step towards the financial inclusion
agenda of the Liberian people," Halidu said, while commending the strong
collaboration between MTN and Orange Money throughout the process.

For his part, Orange Money Chief Executive Officer, Maxwell Dodd, called the
signing "a great milestone," expressing optimism that the new payment system
will deliver tangible benefits to ordinary Liberians.

"We hope the Liberian people will be happy with what this system brings,"
Dodd said.

Under the agreement, ThitsaWorks, as the national switch operator, will
operate the core switching technology, support daily transaction
reconciliation using Mojaloop data, provide advance notice of system
maintenance, train and guide all participating institutions on IIPS
processes, and transmit all settlement instructions to the Central Bank of
Liberia.

The agreement further establishes clear procedures for dispute resolution,
defines liability limits, and outlines conditions for termination or
renewal, ensuring fairness, safety, and predictability for all parties
involved.

Complementing the Participation Agreement, the Service Level Agreement (SLA)
sets strict performance and reliability standards as the IIPS transitions
into full live operations involving real funds. The SLA outlines system
availability requirements, response times, and operational benchmarks, while
also introducing penalties for late settlements, liquidity shortfalls, and
system downtime to ensure discipline and accountability among all
participants.

Together, the two agreements underscore the CBL's commitment to building a
safe, inclusive, and reliable national payment infrastructure. With MTN
Lonestar Cell Mobile Money, Orange Money, government institutions, and
ThitsaWorks operating under clearly defined rules, Liberia is moving
decisively toward a fully interoperable digital financial ecosystem.

Following the official launch of the IIPS on December 16, Liberians are
expected to benefit from faster, easier, and more secure transactions across
participating networks, marking a significant leap forward in the country's
digital finance and financial inclusion agenda.

Read the original article on Liberian Observer.

Namibia to Change Interbanking Rates

Namibian banks will soon be changing the way they lend money to clients with
the introduction of a new lending policy.

The change in the interbank rate will completely change the way interest
rates on homes, cars, properties and all types of loans are charged.

Announced by the central bank earlier this month, Nicholas Mukasa, the
director of financial markets at the Bank of Namibia, says: "Namibia will be
moving away from the Windhoek Interbank Agreed Rates (Wibar), which are
benchmark interest rates used in the Namibian financial market."