South Africa's High Court Rejects Bid to Halt Fuel Levy Increase
South Africa's High Court dismissed a lawsuit filed by the opposition Economic Freedom Fighters party that sought to stop the government from raising fuel levies.
The higher charges were proposed last month by Finance Minister Enoch Godongwana in his third attempt to present an annual budget that can secure parliamentary approval. Previous iterations were rejected by the Democratic Alliance, the second-largest party in the nation's 10-party coalition government, because they proposed hiking value-added tax.
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Hamilton Spectator
38 minutes ago
- Hamilton Spectator
New Zealand Parliament suspends 3 Māori Party lawmakers for haka protest
WELLINGTON, New Zealand (AP) — New Zealand legislators voted Thursday to enact record suspensions from Parliament for three lawmakers who performed a Māori haka to protest a proposed law. Hana-Rāwhiti Maipi-Clarke received a seven-day ban and the leaders of her political party, Debbie Ngarewa-Packer and Rawiri Waititi, were barred for 21 days. Three days had been the longest ban for a lawmaker from New Zealand's Parliament before. The lawmakers from Te Pāti Māori, the Māori Party, performed the haka, a chanting dance of challenge , in November to oppose a widely unpopular bill, now defeated , that they said would reverse Indigenous rights. The protest drew global headlines and provoked months of fraught debate among lawmakers about what the consequences for the lawmakers' actions should be and the place of Māori culture in Parliament. Why the punishment was so strict A committee of the lawmakers' peers in April recommended the lengthy bans. It said the lawmakers were not being punished for the haka, but for striding across the floor of the debating chamber toward their opponents while doing it. Judith Collins, the committee chair, said the lawmakers' behavior was egregious, disruptive and potentially intimidating. Maipi-Clarke, 22, rejected that description Thursday, citing other instances when legislators have left their seats and approached opponents without sanction. The suspended legislators said they are being treated more harshly than others because they are Māori. 'I came into this house to give a voice to the voiceless. Is that the real issue here?' Maipi-Clarke asked Parliament. 'Is that the real intimidation here? Are our voices too loud for this house?' Why this haka was controversial Inside and outside Parliament, the haka has increasingly been welcomed as an important part of New Zealand life. The sacred chant can be a challenge to the viewer but is not violent. As Māori language and culture have become part of mainstream New Zealand in recent years, haka appear in a range of cultural, somber and celebratory settings. They also have rung out in Parliament to welcome the passage of high-profile laws. Some who decried the protest haka in Parliament cited its timing, with Maipi-Clarke beginning the chant as votes were being tallied and causing a brief suspension of proceedings. She has privately apologized for the disruption to Parliament's Speaker, she said Thursday. A few lawmakers urged their peers to consider rewriting rules about what lawmakers could do in Parliament to recognize Māori cultural protocols as accepted forms of protest. One cited changes to allow breastfeeding in the debating chamber as evidence the institution had amended rules before. Who approved the suspensions Normally the parliamentary committee that decides on punishments for errant lawmakers is in agreement on what should happen to them. But panel members were sharply divided over the haka protest and the lengthy punishments were advanced only because the government has more legislators in Parliament than the opposition. One party in the government bloc wanted even longer suspensions and had asked the committee if the Māori party lawmakers could be jailed. Most in opposition rejected any punishment beyond the one-day ban Maipi-Clarke already served. Speaker Gerry Brownlee urged lawmakers last month to negotiate a consensus and ordered a free-ranging debate that would continue until all agreed to put the sanctions to a vote. But no such accord was reached after hours of occasionally emotional speeches in which opposition lawmakers accused the government of undermining democracy by passing such a severe punishment on its opponents. While the bans were certain to pass, even as the debate began Thursday it remained unclear whether opposition lawmakers would filibuster to prevent the suspensions from reaching a vote. By evening, with no one's mind changed, all lawmakers agreed the debate should end. Every government lawmaker voted for the punishments, while all opposition members voted against them. The law that prompted the protest Thursday's debate capped a fraught episode for race relations in New Zealand, beginning with the controversial bill that the Māori Party lawmakers opposed. The measures would have rewritten principles in the country's founding document, a treaty between Māori tribal leaders and representatives of the British Crown signed at the time New Zealand was colonized. The bill's authors were chagrined by moves from Parliament and the courts in recent decades to enshrine the Treaty of Waitangi's promises. Opponents warned of constitutional crisis if the law was passed and tens of thousands of people marched to Parliament last November to oppose it. Despite growing recognition for the treaty, Māori remain disadvantaged on most social and economic metrics compared to non-Māori New Zealanders. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Bloomberg
an hour ago
- Bloomberg
South Africa's Current Account Deficit Narrows Slightly
South Africa's current-account deficit narrowed slightly in the first quarter, beating expectations for it to widen. The gap on the current account – the broadest measure of trade in goods and services – edged down to 35.6 billion rand ($2 billion) in the three months through March from a revised 39.3 billion rand in the previous period, data released Thursday by the central bank showed.
TechCrunch
an hour ago
- TechCrunch
Profitable African fintech PalmPay is in talks to raise as much as $100M
PalmPay, an African digital bank fintech, is in talks to raise between $50 million and $100 million in a Series B round, according to multiple sources familiar with the matter. It's unclear what valuation it hopes to get, but its last round, in 2021, ranked it among the continent's most valuable startups, estimated just shy of unicorn status. While PalmPay declined to comment on fundraising specifics, a spokesperson said the six-year-old fintech is 'in a strong financial position and exploring growth opportunities.' The company, which has raised nearly $140 million across its seed and Series A rounds, is now profitable, according to people familiar with its finances. The new capital, expected to include both equity and debt, will fuel PalmPay's expansion: deepening its footprint in Nigeria, scaling its newer business-focused offering, and rolling out both products in new markets across Africa and Asia. Last month, PalmPay announced it had hit 15 million daily transactions, driven by its 35 million registered users. These transactions now add up to 'tens of billions of dollars' annually in value, according to the company. Revenue has also surged. PalmPay's revenue — $64 million in 2023, according to the Financial Times — has more than doubled since, people familiar with the company's financials say. Techcrunch event Save now through June 4 for TechCrunch Sessions: AI Save $300 on your ticket to TC Sessions: AI—and get 50% off a second. Hear from leaders at OpenAI, Anthropic, Khosla Ventures, and more during a full day of expert insights, hands-on workshops, and high-impact networking. These low-rate deals disappear when the doors open on June 5. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW Launched in 2019, PalmPay started out in Nigeria, Africa's most populous country and a major fintech hub. At the time, over half of adults in the country were unbanked, and traditional banks catered mostly to salaried or formal-sector clients, often with requirements that excluded mass-market users. PalmPay saw an opportunity to flip that model on its head: build a digital bank from scratch, but optimize it for the realities of Africa's informal economy. The company launched an app featuring instant onboarding, zero transfer fees, and a growing suite of services (including credit, savings, insurance, and bill payments) all tailored to the needs of underbanked consumers and small businesses. Crucially, PalmPay didn't rely solely on digital acquisition. The fintech built a vast on-the-ground network of over 1 million small businesses and agent merchants, who now serve more than 10 million customers monthly through the PalmPay Business app and point-of-sale devices (for cash-in, cash-out services). Other major fintechs in the country, including OPay, Moniepoint, and Paga, have also adopted the hybrid model, combining digital apps with physical touchpoints. PalmPay claims to process more transactions than any traditional bank in Nigeria, and 25% of its users report that it was their first-ever financial account. For credit products, offered in partnership with licensed lenders, that number jumps to 60% among borrowers, it claims. Part of PalmPay's strong distribution and marketing advantage stems from its partnership with Transsion, the Chinese phone maker that dominates smartphone sales in Africa, with a market share of over 40% across its brands (Tecno and Infinix). Through the partnership, PalmPay pre-installs its app on select financed smartphones, helping drive user acquisition and engagement. Having established itself as one of the most widely used fintech apps in the country, PalmPay is now preparing to replicate its model in new markets abroad. The neobanking platform has expanded to Tanzania and Bangladesh (its first foray outside Africa), where PalmPay is entering with device financing and consumer credit as wedges before layering in more services. (Other African digital banks, including FairMoney, MNT-Halan and TymeBank, have expanded their financial services into Asia with varying degrees of success.) The company also plans to introduce device financing in Nigeria, its spokesperson confirmed. While Transsion, which led PalmPay's seed round, remains a strategic partner, the company's spokesperson says the fintech is actively exploring collaborations with more original equipment manufacturers (OEMs). GIC (Singapore's sovereign wealth fund) and Mediatek, one of the world's largest mobile chipset makers, are some of its other investors. On the business-facing side, PalmPay offers cross-border payments for merchants who want to send and collect payments across Africa via a single API, a recurring pain point (even with the promise of stablecoins). This newly launched business feature already processes 'hundreds of millions of dollars monthly,' the company's spokesperson confirmed.
