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Bluetooth and Perceived Security Threats

bluetooth and perceived security threats
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Bluetooth is best recognized as the wireless technology that enables hands-free earpieces and uses the Internet of Things to connect your phone to audio, navigation, and gadgets (such as, IoT). Bluetooth, as useful as it is for productivity and comfort, can also pose significant security-based mobile threats. While most of the issues that were identified five to ten years ago have been rectified, others still exist. There’s also cause to be wary when it comes to new, as-yet-undiscovered privacy-related issues.

Some perceived benefits include:

  • The ability to replace cables is one of the most important advantages of Bluetooth technology. Bluetooth technology can be used to replace a number of cords, including those used for peripheral devices (e.g., mouse and keyboard connections), printers, and wireless headsets and ear buds that connect to personal computers (PCs) or mobile phones.
  • File sharing is simple. A piconet can be formed by a Bluetooth-enabled device to allow file sharing capabilities with other Bluetooth devices, such as laptops.
  • Synchronization over the air. Bluetooth allows Bluetooth-enabled devices to automatically synchronise. Bluetooth, for example, allows contact information from electronic address books and calendars to be synchronised.
  • Internet access is required. Bluetooth devices that have Internet connection can share it with other Bluetooth devices. A laptop, for example, can use a Bluetooth connection to have a mobile phone establish a dial-up connection, allowing the laptop to connect to the Internet via the phone.

As technology advances, phone hackers, often known as “phreakers,” have an even greater edge. The following is a simplified list of Bluetooth-related attacks:

Vulnerabilities in General Software

Bluetooth software isn’t perfect, especially in devices that use the newer Bluetooth 5 specification. It’s almost unheard of to come across software that has no security flaws. It’s easy for attackers to identify new, previously undiscovered vulnerabilities in Bluetooth devices, as Finnish security researchers Tommi Mäkilä, Jukka Taimisto, and Miia Vuontisjärvi demonstrated in 2011. Charges for pricey premium-rate or international calls, data theft, or drive-by virus downloads are all possible consequences.

To protect yourself from these vulnerabilities, make sure to turn off your Bluetooth when you’re not using it.

SNARF Attack

This attack is usually only possible when a phone is connected to the network in “discovery” or “visible” mode. Setting the phone to “invisible” mode was assumed to stop the attacks, however, tools have lately been developed on the internet that can overcome even these settings. SNARF attacks may now be set up on practically any phone. The only guaranteed way to protect yourself from SNARF threats is to turn off Bluetooth on your phone when you don’t need it.


Bluetooth is a wireless communication standard named after Harald “Bluetooth” Gormsson, a Viking king who worked to unite various 10th-century European groups. Criminals should not be able to listen in on your data or phone calls if you use Bluetooth encryption.

Eavesdropping, in other words, should not be an issue. Older Bluetooth devices that use outdated versions of the Bluetooth protocol, on the other hand, are likely to be vulnerable to unpatched security flaws.

To counter this issue, prohibit the usage of Bluetooth 1.x, 2.0, or 4.0-LE devices and require that devices use the most recent versions and protocols.

Denial of Service

Malicious attackers can cause your devices to crash, prevent you from receiving calls, and drain your power. To counteract this threat, make sure your Bluetooth is turned off while you’re not using it.

The range of Bluetooth is far greater than you might believe.

Bluetooth is intended to function as a “personal area network.” That is to say, Bluetooth should not be used to connect devices that are more than a few feet apart. However, simply keeping a safe distance between you and a possible attacker isn’t enough; hackers have been known to effectively communicate over considerably longer distances using directional, high-gain antennas.


The BLUEBUG exploit establishes the phone’s serial connection, giving the attacker access to all of the phone’s AT commands. This allows the attacker to make and receive phone calls, as well as access internet data services. It’s also been revealed that if the phone is connected to a GSM network, it’s easy to listen in on nearby phones’ chats. If executed correctly, this attack takes about 2 seconds to finish and leaves almost no sign of its intrusion. Incoming calls can then be routed to other devices by an attacker.

Backdoor Attack

Another security breach is the BACKDOOR attack, which works by establishing an unauthorized connection to the target’s phone. This attack, on the other hand, works by creating a trust relationship using Bluetooth’s pairing mechanism, but then removes the attacker device from the pair list after the link is made. As a result, unless the device’s owner is watching the pair list at the precise moment a connection is created, it’s doubtful that they’ll realize the attacker is still linked after the pair has been deleted from the list.

The attacker will then gain access to all of the information that a “trusted” connection would provide, but without the owner’s permission. This would allow access to the phone’s authorized data, as well as phone calls and instant messages. This attack, however, is more limited than the SNARF attack because it only grants access to information marked for trusted connections.


WARNIBBLING is a hacking technique in which a phreaker tries to locate and access as many vulnerable Bluetooth phones as possible. To sniff for accessible phones, they often utilize laptops or PCs with high gain antennas and sophisticated software, such as Redfang. Rather than staying still, warnibblers will wander around, mapping as many phones as they can. Some drive, while others move from café to café, but the end consequence is the same: they frequently compromise the safety of huge groups of people.


BLUEJACKING, unlike prior attacks, does not provide adversary access to any data. Instead, a tiny flaw in the Bluetooth pairing process can be exploited to send a message to a user. This is usually innocuous, as attackers employed BLUEJACKING to express themselves, spread counter-culture propaganda, or simply demonstrate their ability to breach a consumer’s security.

Recommended Practices

  • Bluetooth technology necessitates the development of an organisational wireless security policy.
  • It is necessary to make sure that all Bluetooth users on the network are aware of their security responsibilities when using Bluetooth.
  • To fully understand the organization’s Bluetooth security posture, detailed security assessments must be performed at regular intervals.
  • It is necessary to guarantee that wireless devices and networks that use Bluetooth technology are well understood and documented from an architectural standpoint.
  • Users should be given a list of precautions to take in order to better protect their portable Bluetooth devices from theft.
  • Change the Bluetooth device’s default settings to reflect the organization’s security policy; Bluetooth devices should be set to the lowest necessary and sufficient power level to keep transmissions within the organization’s secure perimeter.
  • PIN numbers that are suitably random and long should be chosen. Avoid PINs that are static or weak, such as all zeros.
  • If a Bluetooth device is misplaced or stolen, users should unpair it from all other Bluetooth devices with which it was previously associated.
  • Antivirus software must be installed on Bluetooth-enabled hosts, which are regularly attacked by malware.
  • Bluetooth software patches and upgrades must be thoroughly tested and deployed on a regular basis.
  • Users should not accept any transmissions from unidentified or suspicious devices. Messages, data, and photos are examples of these forms of transfers.

See the bigger picture 

Bluetooth is a wireless technology that can do a lot more than merely connect items wirelessly. Bluetooth version 4.0 offers faster data rates, a longer range, and improved security. It’s critical to create and convey company policies for mobile device security, including Bluetooth, so that your organization’s data isn’t jeopardized and your end users can operate safely while on the go. Keep in mind that mobile devices provide a range of threats that must be handled, and Bluetooth security is just one piece of the mobile security puzzle that is sometimes disregarded. For both home and business security, make sure to include mobile device security as part of your overall cybersecurity strategy.

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IMSI Catchers – Mobile Security

imsi catchers mobile security

Israel was attributed for the IMSI catchers discovered in Washington, D.C. three years prior in September 2019, demonstrating the frequency of these types of eavesdropping equipment. Previously used only by law enforcement to locate the international mobile subscriber identity (IMSI) associated with a criminal suspect’s SIM card for investigation purposes, an IMSI catcher may now be purchased or built by almost anyone to intercept a target’s communications. With such low barriers to entry, these devices are no longer simply for the bad people to be concerned about.

This paper will look into certain aspects to unfold the true dangers of ISMI/stringays, etc. 

What is IMSI and how does it work?

Cracking GSM encryption, passive GSM interception, and aggressive GSM interception are all examples of GSM attacks. IMSI catchers come under the last type, serving as a transceiver and actively interfering with communications between mobile phones and base stations (simultaneously transmitting and receiving). 

IMSI catchers deploy a “man-in-the-middle” [MITM] attack, presenting the fake mobile phone to the genuine base station and the fake base station to the real mobile phone at the same time. IMSI catchers can determine the IMSI numbers of nearby mobile phones, which is the trademark capability from which they get their name. They can then identify mobile traffic on the network and target it for interception and analysis using the IMSI.

Stingrays have become commonly known as IMSI catchers. Particularly among law enforcement agencies, they’ve been dubbed “cell site simulators” or “cell site emulators”, fake cell tower, rogue base station, StingRay or dirtbox. Because the 2G protocol has a lot of security flaws that make spying easier, IMSI catchers will frequently try to force communication over 2G. For one thing, encryption isn’t always necessary. Many of the underlying cryptographic methods (such as A5/1) can be broken in real time if this is the case.

IMSI catchers with more advanced capabilities can intercept texts and listen in on phone calls. They may also be able to intercept data transmissions, such as phone numbers dialled, web pages browsed, and other data. IMSI catchers are frequently equipped with jamming technology (to cause 3G and 4G phones to connect at 2G speeds) and other denial-of-service features. Some IMSI catchers may be able to retrieve things such as images and SMS from the target phone.

IMSI Catchers: How Do Criminals Use Them?

An IMSI catcher thus provides threat actors with a number of alternatives, based on the device’s capabilities and the cellular protocol in use.

  • Location Tracking: An IMSI catcher can force a targeted smartphone to respond with its specific location using GPS or the signal intensities of the phone’s adjacent cell towers, allowing trilateration based on these towers’ known locations. When a threat actor knows where a target is, he or she can learn more about them, such as their exact location within a large office complex or the sites they frequent, or just track them across the coverage area.
  • Data interception: Some IMSI catchers allow operators to reroute calls and texts, alter communications, and impersonate a user’s identity in calls and texts. 
  • Spyware delivery: Some of the more expensive IMSI catchers claim to be able to transmit spyware to the target device. Without the use of an IMSI catcher, such spyware can ping the target’s position and discreetly gather images and sounds through the device’s cameras and microphones.
  • Data extraction: An IMSI catcher may also gather metadata such as phone numbers, caller IDs, call durations, and the content of unencrypted phone conversations and text messages, as well as some forms of data consumption (like websites visited).

Options for Detection

There is no guaranteed way for a smartphone user to know if their device is linked to an IMSI catcher, much alone prohibit connections with IMSI catchers, at this time. Slow cellular connections and a change in band in the status bar (for example, from LTE to 2G) are indicators, however slow connections happen to unaffected users as well, and certain IMSI catchers can operate in 4G.

IMSI catcher detection applications are only available for Android, and they require rooting the device – which is itself a security flaw – in order to access the cellular network communications available through the smartphone baseband’s diagnostic interface. For identifying IMSI catchers, there are more reliable hardware options available, which makes sense for protecting several smartphone users in a single location, such as a business headquarters or military post.

A typical arrangement includes a fixed, embedded system with sensor hardware and a cellular modem for continually monitoring the broadcast signals of nearby base stations, as well as a database to which data can be uploaded for analysis. When an IMSI catcher is found, alarms can be sent to all smartphone users in the organisation.

Upgrade to Efani’s Black Seal Protection 

While this appears to be a catastrophic situation, there is one option that can safeguard you from all of these threats: the EFANI Black Seal Protection. EFANI uses many levels of security and privacy to encrypt your voice, SMS, and text messages, as well as a cloud-based solution to detect, protect, and warn users in real time when an intrusion attempt is made.

At the network level, Efani’s Black Seal Protection delivers a unique military-grade capability for detecting IMSI Catchers and preventing Man in the Middle Attacks. The key strength of this solution is its ease of use. It is designed for cutting-edge protection on the SIM-card level and mass-deployment in large enterprises.

Installing the EFANI encrypted SIM card into your smartphone and answering a few questions to activate is all it takes. The user experience is unchanged, but security, privacy, and peace of mind have been added. 

Perhaps most crucially, simply acknowledging that your cellular connections are unreliable may cause you to reconsider the information you exchange through them. Your security posture will benefit as a result.

In a nutshell

Communication interceptions, service denial, and even location monitoring are all frequent MITM threats. Symptoms of such attacks aren’t always visible, with the exception of service denial if all communications are stopped. Otherwise, if someone wasn’t actively seeking for intercepted communications or double-checking every page they visited to make sure they weren’t being sent to an attacker-controlled domain, they might not even be aware that they were being tracked.

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Tanzania: DSE Turnover Reaches 74bn/ – Year to Date

tanzania dse turnover reaches 74bn year to date

EQUITIES continue to rally the market as the Tanzania Share Index (TSI) gains 4.45 per cent from the start of the year to date, largely attributed to the increase in prices of CRDB, DSE, TPCC, TCCL and NICO.

Market turnover indicates how much trading activity took place on a given business day in the market as a whole, the Dar es Salaam Stock exchange equity trading activities has stemmed 74bn/-transacted between investors from the start of the year to 19th August 2021.

Higher turnover in a stock indicates better liquidity which means that it is easier to sell the stock in the market. Stocks that recorded turnover higher than 1.0bn/- in the period include: CRDB 12.35bn/-, DSE 1.67bn/-, NMB 18.21bn/-, TBL 19.38bn/-, TPCC 12.57bn/- and Voda 4.7bn/-.

All sectors posted gains during the year as the stock market performance was quite broad-based. Industry and allied was the best-performing sector, trading over 35.29bn/- spurred by stable yields. Banking came in second, trading over 30.56bn/- spurred by good 2020 end of year financial results. Investors continued the broad trend of rotation towards value stocks and large-cap stocks during the period.

Why is stock market liquidity important?

Liquidity describes the extent to which an asset can be bought and sold quickly and at stable prices. In simple terms it is a measure of how many buyers and sellers are present, and whether transactions can take place easily. If there are only a few market participants, trading infrequently, it is said to be an illiquid market or to have low liquidity.

Usually, liquidity is calculated by taking the volume of trades. As indicated above total turnover for the Dar es Salaam Stock market for locally listed stocks was 74bn/-.

The Dar es Salaam stock exchange has shown high levels of liquidity arising due to significant levels of trading activity owing to high supply and demand for stocks, as it is easier to find a buyer or seller. Most stocks that have traded during the period include ones that have announced dividends as investors are looking to cash in on equity returns as the fixed income market continues to suffer from low yields.

Key drivers for the stock market growth are:

(1) Stronger earnings expectation – We expect stronger earnings expectation in the Industry & Allied (IA) Banks, Finance & Investment sectors to stimulate demand for stocks.

(2) Increased foreign investor participation – we expect the recovery and stable outlook of the Tanzanian currency supported by improving economic conditions to boost investor confidence in the stock market and create more demand for stocks.

From a valuation perspective, Industry & Allied (IA) Banks, Finance & Investment the banking sectors are highly attractive with some key listed companies in the sectors trading at attractive metrics.

Enduring good performance of the stock market, our outlook appears to lean favorably as we expect the stock market indices to replicate positive growth trends as we head into September. High demand for CRDB, DSE, TCCL and TPCC will likely push their respective prices up in September.

Positive economic momentum

Expansive monetary policy by the central bank will accelerate economic growth and improve market liquidity; a low lending interest environment will lower borrowing cost making equities the most attractive option in risk assets. We expect the remainder of 2021 to be characterized by sector and stock selection as the market transitions to an economic expansion and stronger focus on valuations. Furthermore, equities in the stock market continue to make new highs as The Tanzania Share Index (TSI) is up by 4.45 per cent YTD with individual stocks such as CRDB up by 33.3 per cent and TPCC up by 56 per cent YTD and we continue to see improving economic environment. Expansive monetary policy by the central bank will accelerate economic growth and improve market liquidity.

Low Treasury bond yields

The yield curve, typically represented by the 20-year and the 2-year Treasury yield will continue to fall. A steep yield curve in the primary Treasury bond market often precedes a period of economic expansion. We will continue to see a low yield environment as the central bank continues to implement expansive monetary policy. We expect the central bank to remain cautious and diligent about maintaining expansionary policy.

The analysis is compiled by Zan Securities, a capital markets and securities authority licensed dealer and a member of the Dar es Salaam Stock Exchange (DSE). It is currently one of the leading stock market dealers in terms of modern ICT infrastructure and branch network from Zanzibar and Tanzania Mainland.

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Namibia: Mtc to Prioritise Previously Disadvantaged On Listing

namibia mtc to prioritise previously disadvantaged on listing
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IF TOO many people and companies want to buy shares in Mobile Telecommunications Limited (MTC), priority would be given to previously disadvantaged Namibians, MTC has said.

The company announced this last Friday, and has set 20 September this year as the date to release the prospectus detailing how much its shares will cost as the company prepares to go public.

Approval to list has been granted by the Namibian Stock Exchange (NSX) and the prospectus was submitted to the registrar of companies last week.

The listing of MTC’s 49% is the largest proposed listing by a Namibian company since the establishment of the NSX and will have Namibia Post and Telecommunications Holdings Limited (NPTH) retaining the 51%.

NPTH – A 100% state-owned company holds majority of the market share in the country’s telecommunications industry through MTC and Telecom Namibia.

MTC is expected to be listed before the end of November 2021.

“We take great pleasure to invite you to share in the prosperity by subscribing for shares in this truly Namibian company. The listing will provide an opportunity for all MTC customers, staff, stakeholders, and the public in general, to acquire MTC shares and participate in the ownership,” said MTC.

Previously disadvantaged Namibians will be given preference on the shares, then MTC staff and customers, followed finally by Namibian institutions, the Southern African Development Community and international investors.

Full details of the public offer will be disclosed in the prospectus.

The offer to subscribe for shares is expected to close at 12h00 on 1 November 2021.

Following the announcement, the internet was abuzz with several Namibians overjoyed. Among them was former NPTH board member Ally Angula who said this listing is a “win for the Namibian people. Please register to buy your share of a great Namibian brand”.

The information and technology sector in which MTC is part, registered a 17,4% growth in 2020 and is expected to grow by 7,4% this year according the Bank of Namibia predictions.

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7 must-use tips to boost your Linux Privacy in 2021

7 must use tips to boost your linux privacy in 2021
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There’s a myth. Just because you are using Linux doesn’t mean you are not getting any viruses or malware.

In reality, all operating systems, when combined with the people who use them, present a plethora of security threats and vulnerabilities that can be exploited.

Believing in Linux magic is a hoax but yes, you can be super protective with the Linux privacy tips we are here to give you.

Enjoy the read…

Password Protection

Make sure you select a strong and lengthy password, even though this should be required. This should be a mandatory step during the installation process. Make sure you have rigorous password policies in place because all it takes is one susceptible machine on your network to bring the world to an end. Your Linux privacy is all in your hands.

Data Encryption and Linux Privacy

Encrypting your data is an important step when it comes to maximizing your Linux privacy. Full disc encryption is great, but if you’re working on a shared machine, you can also encrypt simply your home directory. This is normally done during the installation process, and it is tough to do later. In that case, the most straightforward remedy is to back up your data and then reinstall the OS with encryption options selected.

Remove Unnecessary Applications

A lightweight OS is all you need for speed, usage, and privacy. Only keeping the apps that are really necessary will ensure optimal efficiency. It also lowers the chances of a poorly developed application acting as a portal to vulnerabilities.

After you have identified such apps, you can use BleachBit to do deep cleaning. It can quickly delete cookies, free your cache, and obliterate temporary files.

[Please note that this is just for educational purposes, we do not endorse any third-party applications/solutions, therefore, we are not liable].

Disable Unnecessary Daemons

You might have selected a few services at the time of installation that you won’t use. External ports may be used by these daemons. You can easily switch off these services if you don’t need them. This will preserve your privacy while also potentially optimizing your boot times!

Remote Connection Settings for your Linux Privacy

There are a few easy actions you may take to lessen the danger of an attack and increase your Linux privacy if you utilize SSH for remote access. The simplest solution is to use a port other than the default 22. (and below 1024). PermitRootLogin no in the SSH config file can also be used to block remote root login.

Boost Linux Privacy with a VPN

Right present, there are a plethora of VPN services to choose from. Many of them come with Linux clients pre-installed. Your internet traffic will be cloaked and encrypted using a VPN. Anyone attempting to intercept your traffic will see all of your online activity as jumbled. Furthermore, certain VPNs can spoof or modify your IP address. We highly suggest building your own VPN and if needed you can let us know if you want a blog on building a VPN on Linux.


Your operating system may already have a built-in firewall, most likely iptables. Firewalls can be difficult to configure using the command line, but a GUI frontend, such as Gufw, is likely to be available for easier control.


Privacy is intimidating especially during a pandemic-led cyber crisis. There was never a stronger need for cybersecurity protocols than now. We want the best protection for you and your PII. Take care and deploy an Efani carrier to protect yourself against sim swapping (at minimum)!

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Tunisia: Net Foreign Exchange Reserves Down 1,945.4 Million Dinars – BCT

tunisia net foreign exchange reserves down 1945 4 million dinars bct
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Tunis/Tunisia — Net foreign exchange reserves stood at 19.731 billion dinars (123 days of import) until August 18, against 21.676,4 billion dinars (143 days of import) in the same period last year, posting a drop of 1.945,4 billion dinars (-20 days of import).

This drop is due to the 71.9% fall in cumulative tourism revenues until August 10, compared to 1.317,7 billion dinars last year, preliminary data of the Central Bank of Tunisia (BCT) issued Thursday showed.

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Nigeria: Oil Companies Owe NDDC Over $4 Billion – Minister

nigeria oil companies owe nddc over 4 billion minister
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The NDDC law mandates IOCs to pay three per cent of their revenue to the agency, but that has not happened over years.

International oil companies operating in Nigeria are owing the Niger Delta Development Commission (NDDC) over $4 billion, the Minister of Niger Delta Development, Godswill Akpabio.

Mr Akpabio said this Thursday while briefing journalists at the State House in Abuja at the weekly briefing organised by the presidential communications team.

He said the NDDC law mandates IOCs to pay three per cent of their revenue to the agency, but oil firms have been defaulting for years. The NDDC was set up in 2001 as an interventionist agency to aid the development of the oil-rich Niger Delta.

“All of them have been defaulting and efforts are ongoing to get them to pay,” Mr Akpabio disclosed.

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South Africa: JSE Opening Delayed By R140 Billion in Trading Over Naspers-Prosus Share Swap

south africa jse opening delayed by r140 billion in trading over naspers prosus share swap
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The JSE opened several hours late on Wednesday morning, not because hackers took the system down, but because R140bn worth of trading took place on Tuesday, double the usual volume, causing an almighty backlog. This followed the rebalancing of Naspers and Prosus on a number of indices.

Despite widespread shareholder reservations, Prosus’s offer to issue new shares in exchange for Naspers shares received the requisite shareholder support and was effected on Monday.

The share swap sees Naspers owning a 57% majority stake in Prosus, down from 73.2%. In turn, Prosus has taken up 45.33% of the total issued share capital of Naspers.

Considering that these are the biggest and sixth-biggest companies on the JSE, the transaction had a massive, if momentary impact on the JSE, which only opened for continuous trading at 2.30pm on Wednesday.

The weighting of Naspers in the JSE’s Top 40 moved from 15% to 8%, while Prosus moved from 11.1% to 9.6%. Similarly, on the Swix40 (Shareholder Weighted Index) Naspers was downweighted from 23.4% to 11.9%. And on the capped Swix40 (where weightings are capped at 10% regardless of their market capitalisation to reduce concentration risk), Naspers downweighted from 9.50% to 4.9%, while Prosus was upweighted…

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Nigeria: Covid-19 Relief – Customs Agents to Sue Terminal Operators, Shipping Companies

nigeria covid 19 relief customs agents to sue terminal operators shipping companies
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National Council of Managing Director of Licensed Customs Agents, NCMDLCA, is set to drag terminal operators and shipping companies to court over refusal to refund charges and levies collected from importers and their agents during the lockdown occasioned by the Covid-19 pandemic.

Recall that the Federal Government had directed terminal operators and shipping companies to grant 35 days demurrage waivers as relief to cushioning the economic effects of the pandemic.

To this effect, the Council petitioned the Secretary to the Government of the Federation, claiming that both Terminal operators and shipping Companies connived with the Nigerian Ports Authority, NPA, to undermine the relief measure.

NCMDLCA, in the petition signed by its National President, Lucky Amiwero, noted that the government directive conforms with the principle of force majeure restricting the movement of all agencies especially the Importer/ Licensed Customs Agents, LCA.

The petition read in part, “NPA aided the Terminal Operators and Shipping Companies by issuing the circular HQ/GM/MRS/OP/L.1/VOLII/434 OF 14TH MAY 2020 on the demand of the refund to the National Council Of Managing Directors of Licensed Customs Agents, NCMDLCA after the ease of the lockdown, when the Terminal Operators/ Shipping Companies have illegally and forcefully collected the rent of the 35 days without refund to the Importers/Licensed Customs Agents, LCA.

“The Management of the Nigerian Port Authority, NPA was forwarded with the Terminal Operators and Shipping Companies receipt of payment made by the importers/Licensed Customs Agents, LCA which falls under the date of the waiver of the 35 days that was illegally and forcefully collected, which was not paid up till date”.

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Tanzania: Dse Posts Mixed Movement for Local, Cross-Listed Shares

tanzania dse posts mixed movement for local cross listed shares

Dar es Salaam Stock Exchange (DSE) has posted a mixed movement where domestic and crosslisted stocks split between green and red. Tanzania Share Index (TSI) gained by 0.26 point following a 0.007per cent gain on the domestic market capitalisation.

The TSI and domestic market cap closed the week at 3,640.38 points and 9.588tri/- respectively for a week ended last Friday.

On the other hand, the All Share Index (DSEI) dropped by 0.87 points to close the week at 1,997.55 points, associated with a 0.04 per cent decline of the total market capitalisation to 16.613tri/- Orbit Securities said in its Weekly Market Synopsis that last week was the day for mixed reaction on share prices as the local stock went north while cross-listed stick to green while others went south.

“Another week of mixed movements on the major stock market indices on the DSE as only one domestic counter registered a price movement while cross-listed counters were equally split between green and red,” Orbit report said.

During the week, NICOL was the only counter that saw a price movement during the week as the counter’s price moved up 4.17per cent to close the week at 250/-.

“NICOL has been on a steady gradual climb and has already jumped 35.1per cent since the beginning of the year,” Orbit said adding: “NICOL is riding on the back of the performance of NMB which makes up more than 90per cent of NICOL’s holdings”.

For cross-listed, EABL and Jubilee Holdings (JHL) went down by 1.58ler cent and 9.62 per cent respectively.

The price dropping of the EABL and JHL pulled down the DSEI and neutralize the price climb on KCB Bank and National Media Group (NMG) which appreciated by 3.06 per cent and 4.95 per cent respectively.

Zan Securities said in its Weekly Market Wrap-Ups that CRDB emerged as this week’s top performer, capturing 94.48 per cent of the market share, thanks to a pre-arranged block trade of 3,000,000 shares.

Twiga cement counter came second at 2.56 per cent.

“In the previous week, NMB Bank led the market share but [last] week, its counterparts CRDB dominated the market share after posting a bullish performance from the high demand of the counter. “We anticipate these two counters will continue to trade high volumes on our exchange,” Zan said.

Vertex International Securities said Ty the equities market slowed down in performance last week as turnover and volume declined.

“Increase in foreign investors’ participation could not yield positive results this week as volume and turnover declined. “We did not experience a drop in prices for any domestic counter. We expect the market to perform well next week as impressive half year results keep on rolling out,” Vertex weekly report said. The market recorded a weekly turnover of 1.18bn/- against 6.66bn/-of previous week.