Funny Ways

10/03/2026

urkina Faso unveils $64 billion 5-year roadmap to transform economy
Solomon Ekanem
09 March 2026 07:46 AM

Burkina Faso has adopted a new National Development Plan (PND) 2026–2030, a $64 billion, five-year roadmap aimed at reshaping the economy, strengthening stability, and promoting inclusive growth.

Burkina Faso unveils $64 billion 5-year roadmap to transform economy
Burkina Faso unveils $64 billion 5-year roadmap to transform economy
Burkina Faso has launched a $64 billion National Development Plan for 2026–2030 to reshape its economy and foster inclusive growth.
The plan marks a significant increase from previous budgets, aiming for economic transformation with 34.5% of funds dedicated to investment and capital transfers.
Four key priorities are security and social cohesion, governance reform, human capital development, and expanded infrastructure.
The government will implement program-based budgeting, enhance state coordination, and encourage community involvement, alongside innovative financing like citizen shareholding.

The plan represents a sharp increase from the previous framework, with an average annual budget of about CFA7,238.1 billion, reflecting the country’s renewed focus on economic transformation.

Investment spending, including capital transfers, accounts for 34.5% of the total budget, while additional financing needs are projected at 30.3% of the plan’s cost.

The strategy is structured around four priorities: enhancing security and social cohesion, reforming the state and governance, developing human capital, and expanding infrastructure to support long-term economic growth.

Burkina Faso plans to modernise public policy implementation through program-based budgeting, stronger state coordination, wider domestic resource mobilization, and community involvement in development projects.

Officials describe the approach as promoting “inclusive and homegrown socioeconomic development rooted in patriotic commitment and national sovereignty.”

The government will also explore innovative financing tools such as citizen shareholding programs and revenues from state assets.

10/03/2026

10/03/2026

Brazil's Lula warns Ramaphosa of invasion risk if defenses lag

BRASILIA - Brazilian President Luiz Inacio Lula da Silva has urged President Cyril Ramaphosa to boost defense co-operation, warning that both countries were vulnerable to foreign invasion.

Both Lula and the visiting Ramaphosa have been critical of the war against Iran waged by the United States and Israel.

Lula said:

"I don't know if comrade Ramaphosa realises that if we don't prepare ourselves in terms of defense, one day someone will invade us."

"We need to combine our potential and see what we can produce together, build together. We don't need to keep buying from foreign arms suppliers."

Ramaphosa noted that Brazil was "much more advanced" than South Africa in defense and aviation.

"We have a lot to learn from each other and we also have a lot to show you as well."

The two countries' defense ministers were due to meet Monday to work on a cooperation agreement.

Lula added:

"In South America, we present ourselves as a region of peace. No one has a nuclear bomb, no one has an atomic bomb. So we think of defense as deterrence."

South Africa and Brazil are members of the BRICS group of emerging nations, which US President Donald Trump has labeled "anti-American."

The bloc also includes China, Russia, and Iran, among others.

Lula has been critical of Washington's actions in Latin America, saying the US attack on Venezuela to oust president Nicolas Maduro crossed "an unacceptable line."

Prior to Maduro's ouster, the US military carried out several air strikes on alleged drug trafficking boats in the Caribbean Sea and eastern Pacific Ocean.

Trump on Saturday offered to help Latin American leaders combat drug cartels with US missile strikes targeting narco kingpins.

Brazilian media on Monday reported that Foreign Minister Mauro Vieira and US Secretary of State Marco Rubio had spoken by phone about Washington's possible designation of Brazil's two largest criminal factions as terrorist organizations.

Contacted by AFP, the ministry did not confirm the conversation had taken place.

In 2025, Brazil's right-wing opposition unsuccessfully tried to pass a law classifying the country's two major criminal organizations, Comando Vermelho (Red Command) and First Capital Command (PCC), as terrorist groups.

10/03/2026

Volkswagen says to cut 50,000 jobs as profit slides
10 Mar 2026 | Paul Cassedanne with Louis van Boxel-Woolf in Frankfurt

Volkswagen said Tuesday that it would cut 50,000 jobs in Germany by 2030 as its profit slid to its lowest level since 2016.
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In total, around 50,000 jobs are due to be cut by 2030 across the Volkswagen Group in Germany," Volkswagen CEO Oliver Blume said in a letter to shareholders in the firm's annual report.

The 10-brand group had already struck a deal with unions at the end of 2024 to cut 35,000 jobs by 2030, mostly at its namesake brand, as part of plans to save 15 billion euros a year.

The additional cuts would come from premium brands Audi and Porsche as well as Volkswagen's software subsidiary Cariad, Blume added.

Even before US President Donald Trump slapped tariffs on non-American carmakers last year, Europe's largest automobile manufacturer was facing a triple whammy of stagnant demand in Europe, the costs of investing in electric cars despite patchy demand as well as cratering sales in China.

Long the biggest player in the Chinese market, the world's largest, Volkswagen is struggling with fierce competition from local rivals and sales there have slipped behind those of BYD and Geely.

Earnings after tax fell about 44 percent last year, Volkswagen said, with US tariffs, fierce competition in China and a costly revamp of its sportscar-maker Porsche all hitting performance.

At 6.9 billion euros ($8 billion), earnings were at their lowest since 2016, when the group took billions in one-off charges due to recalls and legal troubles over cheating on diesel emissions tests.

Warning that the group's profit margin was "not sufficient in the long run", Volkswagen finance boss Arno Antlitz said further cost-cutting was needed to make the firm more competitive.

"We can only realise this if we continue to rigorously reduce costs," he said. "That is what we will focus on in the coming months."

For 2026, Volkswagen said it expec

10/03/2026

Popular Chinese car brand in talks over Mercedes-Benz factory in South Africa

Mercedes-Benz Group is considering sharing its manufacturing plant in South Africa with Great Wall Motor (GWM), a move that could boost the facility’s viability as US trade tariffs take effect, people familiar with the matter said.

The luxury carmaker and Chinese firm are in talks about co-manufacturing at the factory in the port city of East London, according to the people who asked not to be identified because the discussions are private.

Representatives for GWM have presented a proposal to senior officials at South Africa’s Department of Trade, Industry and Competition outlining the company’s interest in producing vehicles there, one of the people said.

“Mercedes-Benz strives to ensure that all its production sites remain globally competitive, are on an optimal operating point and adapted to new requirements whenever necessary,” its South African unit said, declining to comment further.

GWM South Africa said it is continuously investigating ways to expand its presence in the local market, without adding more details.

A deal hasn’t been finalised, and the companies could structure alternative tie-ups, said the people. Mercedes is also considering using the plant as a global hub to re-purpose end-of-life batteries from passenger vehicles, according to one of the people.

Mercedes has shipped the C-Class sedan from South Africa to the US since 1997, taking advantage of the African Growth and Opportunity Act, which allowed for duty-free car exports to the world’s biggest economy.

President Donald Trump’s 30% tariff on South African goods destined for the US — imposed in August last year — threatened the economics of the plant.

While the US Supreme Court suspended that duty in February, his administration plans to impose a 15% global levy on goods destined for American shores starting this month.

The German automaker spent about €600 million ($694 million) to modernize the

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