China and the Philippines have traded blame over two collisions in the South China Sea involving their vessels, the latest in a series of maritime confrontations in the disputed waterway. China’s coastguard says there had been a slight collision between one of its ships and a Philippine vessel carrying supplies to a World War II-era transport ship that was being used as an outpost on the shoal. The coastguard says the collision occurred while it was lawfully blocking the boat from transporting illegal construction materials to the warship. Manila says it condemned in the strongest degree the dangerous blocking manoeuvres of the Chinese vessel.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Africa Business News

Philippines, China Trade Blame over South China Sea Collisions

China has launched an investigation into Taiwan-based iPhone maker Foxconn. The Global Times, citing anonymous sources, says officials conducted tax inspections at Foxconn businesses in two Chinese provinces. Foxconn says it will cooperate with the investigation. The company is the biggest maker of iPhones for US tech giant Apple and is one of the largest employers in the world. The Global Times also said China's natural resources department made on-site investigations into land use by key Foxconn businesses in the provinces of Henan and Hubei.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Taiwan-based Iphone-maker, Foxconn Investigated by China 

Tanzania has signed a 30-year port management agreement with the United Arab Emirates, despite opposition to the deal. Under the agreement, the Dubai Port World will run four berths at the Dar es Salaam port, Tanzania’s largest port. The Emirati firm and the Tanzania Ports Authority will also collaborate in managing three other berths at the port. The partnership includes an investment of $250m by DP World to upgrade infrastructure at the port over the next five years. The deal has drawn criticism from several activists, citizens and opposition politicians, who say that it favours the Emirati company at Tanzania’s expense. Tanzanian authorities say the deal does not involve all port operations in the country and that they retain the right to withdraw from the contracts at any time if necessary.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Tanzania Signs 30-Years Contested Port Deal with UAE firm 

The South African Department of Tourism has published a new whitepaper that proposes new regulations for Airbnb and other home-sharing apps. The Department of Tourism in April 2019, unveiled its plans to regulate Airbnb and similar home-sharing apps through the Tourism Amendment Bill. This bill aims to grant the tourism minister the authority to set specific thresholds for South African Airbnbs. The South African government has argued that platforms like Airbnb could lead to a surplus of unregistered properties on the accommodation market, resulting in the value of formal accommodation providers, such as hotels and guesthouses declining. Michele de Souza, chair of the Pietermaritzburg Bed and Breakfast Network, is advocating for specific regulations that Airbnb hosts should follow. De Souza also called for Airbnb to pay taxes and adhere to business regulations like traditional businesses.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

South Africa Tightens Grip on Airbnb and other Home-sharing Platforms

The Federal Government, through the Ministry of Solid Minerals Development, has pledged its commitment to work with a foremost consulting firm, PricewaterhouseCoopers, in executing policies under the seven-point roadmap to transform the sector. The Special Assistant, Media to the Honourable Minister of Solid Minerals Development, Segun Tomori, says the collaborative effort would transform the solid minerals sector into the country’s highest source of revenue. The Minister of Solid Minerals Development, Dele Alake, thanked the consulting firm for its contribution to the mining sector over the years, assuring that the expertise and ideas of PwC would be factored into reforms of the mining sector and implementation of the 7-point agenda. This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Nigerian Government, PWC Partner on Solid Minerals Roadmap 

The Federal Government announced that it attracted over $2bn in investments in the renewable energy sector over the past decade. It announced this through the Rural Electrification Agency, adding that in advancing these achievements, it established partnerships with the World Bank, African Development Bank, Global Alliance for People and Planet, Rocky Mountain Institute, and Japan International Cooperation Agency among others. The Director, Promotion and Outreach, Mutari Ibrahim, says from 2020 to date, REA has provided power to over 7.5 million people including 1.5 million households, delivering 130 mini-grid projects, including 1.3 million standalone home systems. He added that the agency has equally deployed over 1,650km of solar street lights, improving power, security, and economic growth in rural areas.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Nigerian Government Attracts $2bn Investments in Renewable Energy Sector 

The Senate is calling for the unbundling of the Independent National Electoral Commission to improve the efficiency of the electoral body. The Senate also resolved to make electronic transmission of results mandatory from the next general elections in 2027, including the uploading of polling unit-level results and result sheets used at different levels of result collation. The upper chamber also weighed in on the security challenges in the country, saying a comprehensive national security strategy should be developed that addresses Nigeria’s needs. The lawmakers say it is necessary for the Senate President and Speaker of the House of Representatives to be part of the security briefings that the president gets.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Nigerian Lawmakers Calls for Unbundling of INEC for Efficiency 

Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has asked the Minister of Interior, Olubunmi Tunji-Ojo, to review his plan for the payment of N500 million in fines imposed on not less than 4,000 convicts by various courts. The minister had announced a plan to decongest the correctional centres in the country by ensuring the payment of the fines imposed on not less than 4,000 convicts by various courts in the 36 states of the Federation and the Federal Capital Territory. Tunji-Ojo says the total fines of N500 million would be paid within the next four weeks. The senior lawyer however says the minister should rather request President Bola Tinubu and the various state governors to exercise their prerogative of mercy by granting pardon to the 4,000 convicts to facilitate their immediate release from custody. This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Nigerian Government Urged to Review Planned N500m Payment for Inmates’ Release

X, the social media site formerly known as Twitter, has begun charging new users in New Zealand and the Philippines to use the platform’s basic features and aims to expand the annual fee to all new users globally. Under the trial, new users in the Philippines and New Zealand will have to pay about $0.75 and $0.85, respectively, each year, to be able to post and engage on X. The company says those who decline to pay will only be able to read posts, watch videos and follow accounts. The annual subscription is the latest in a string of controversial changes to the platform since billionaire Elon Musk bought Twitter last year for $44 billion. X says the new fee would bolster existing efforts to reduce spam and manipulation of our platform and bot activity.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

X to Charge $1 Annual Subscription for Basic Account 

Malawi’s central bank devalued the kwacha by 25 per cent last May to stabilise dwindling forex reserves. John Kapito, executive director of the Consumers Association of Malawi, says the worst is yet to come. He added that the country has failed to balance its imports against exports and has relied heavily on donors for its forex reserves. He added that the government's revenue collection has drastically gone down as a result of market inactivity and currently struggling to pay for its oversized civil service.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Forex Shortage Triggers Cost-of-living Crisis in Malawi 

Chinese President Xi Jinping has warned Western states against decoupling from his country’s economy, insisting amid declining foreign investment that China’s development should be viewed as not a threat but an asset. Xi’s caution came as he opened the Belt and Road Initiative forum in Beijingalso used his speech to laud the scheme, which was launched 10 years ago with the professed aim of building infrastructure and energy networks to link Asia, Africa and Europe. Xi says Viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

China’s Xi Warns West against Economic Decoupling

South African President Cyril Ramaphosa and his Ukrainian leader Volodymyr Zelensky have affirmed their shared desire for a peaceful resolution to the Russia-Ukraine conflict. Mr Ramaphosa welcomed Mr Zelensky commitment to the revival of the Black Sea Grain Initiative and both leaders pledged to continue working together on that. Ukraine has since proposed the establishment of grain hubs in African ports. Mr Ramaphosa also committed his country's commitment to active engagement in the Africa Peace Initiative - presented earlier this year by seven African leaders as a possible basis for peace. He also committed to the participation of his country for talks in the peace formula outlined by Ukraine - that are held at the level of national security advisers.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

South African and Ukraine Leaders Discuss Grain Deal Revival 

The Nigerian government says it will begin the distribution of $1.5bn cash to 15 million vulnerable households. The cash handout is aimed at alleviating the soaring food, fuel and commodity prices. , Finance Minister says each eligible household will get $32 in cash for a three-month period beginning this month. The government believes the vulnerable households represent 62 million Nigerians - in a country with a population of more than 200 million. However, questions have been raised about who qualifies for the handouts and how households will be chosen.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Nigerian Government to Distribute $1.5bn Cash to Vulnerable Households

The People’s Republic of China has indicated its readiness to refinance and complete the Abuja-Kano, and Port-Harcourt-Maiduguri railway projects following a request by President Bola Tinubu. He says China had agreed to provide 85 per cent financing for the construction of the Abuja-Kano and Port-Harcourt-Maiduguri railway projects, while Nigeria which had the duty of paying the balance 15% paid its part of the funding from the inception of the project through appropriations. He stated that the crucial infrastructure also termed a legacy project has the China Civil Engineering Construction Corporation as the contractor named to execute the project.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

China to Refinance Abuja-Kano, Port-Harcourt-Maiduguri Railways 

The former lawmaker who represented Kogi West in the ninth Senate, Adeyemi Smart says President Bola Tinubu will throw out any minister who fails to perform in six months. The governorship aspirant in Kogi State described Tinubu as someone who will ask ministers to give a report to Nigerians. He says if persons nominated or given appointments don’t perform the president will show them the way out without leaving them for eight years or four years.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

Nigerian Ministers Given 6 Months Ultimatum to Show Performance

Daily news insights and analysis of the African business Landscape, covering from emerging startups to macroeconomics from across the 55 African Union member states com.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement

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Africa Business News

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