<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="675" height="380" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/1675956289-63dd4efae33c4000193ae0c2copy-1.png" alt="" class="wp-image-483480" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/1675956289-63dd4efae33c4000193ae0c2copy-1.png 675w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/1675956289-63dd4efae33c4000193ae0c2copy-1-300x169.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/1675956289-63dd4efae33c4000193ae0c2copy-1-160x90.png 160w" sizes="(max-width: 675px) 100vw, 675px" /><figcaption class="wp-element-caption">Picture Alliance | Picture Alliance | Getty Images</figcaption></figure>



Gen Z are digital natives and have quickly adopted AI, using it for everything from assignment research to planning holidays.



But, it seems, they’ve been making mistakes along the way.



Shoshana Davis, a Gen Z career expert and founder of the career consultancy Fairy Job Mother, told CNBC Make It in an interview that the generation (generally defined as those born between 1996 and 2012) have become too reliant on AI tools like ChatGPT to generate cover letters and job application answers.



“So I speak to businesses and employers who hire anything from like 10 to 1000s of Gen Z every year,” Davis said. “And one of the main challenges that I’m seeing at the moment is the use of AI, specifically ChatGPT, and it’s not being used in the right way, and it’s not being used effectively.”



Davis explained that “employers are getting hundreds of the exact same cover letters word for word,” or answers to job application questions that are the same, and suspect that ChatGPT use is in play.



In fact, 45% of job seekers have used AI to build, update, or improve their resume, a Canva survey published in January of 5,000 hiring managers and 5,000 job seekers from the U.K., U.S., India, Germany, Spain, France, Mexico and Brazil found.



And it appears that Gen Z is leaning the most on AI, according to a February Grammarly survey of 1,002 knowledge workers and 253 business leaders. It reported that 61% of Gen Z said they can’t imagine doing work tasks without using generative AI ­— the most out of any of the generations.



Davis said that we should definitely “embrace technology and AI” but said copying answers from ChatGPT can hurt your chances of getting a job.



A Resume Genius survey of 625 hiring managers found that over half disliked AI-generated resumes and would consider it a red flag that would make them less likely to hire a candidate.



<h2 class="wp-block-heading" id="h-100-identical-responses">’100 identical responses’</h2>



One of the reasons why copying ChatGPT’s responses is an ineffective way of using AI is that the chatbot does not always provide reliable information.



One initial issue with ChatGPT was that its knowledge base was limited to data released before September 2021 but this was resolved in September 2023, its owner OpenAI announced on X.



“ChatGPT is not connected to the internet, and it can occasionally produce incorrect answers,” it says on the company website. “It has limited knowledge of world and events after 2021 and may also occasionally produce harmful instructions or biased content.”



Davis shared a recent story from an employer she works with who was hiring for a brand marketing position, and asked a question in the job application about candidates’ favorite fitness-related product launches in the past year.



“They said they got about 100 identical responses of ‘my favorite campaign launch was Peloton’ and the employer was like ‘ultimately that was ChatGPT, but then also equally Peloton was released like four or five years ago’,” Davis said. The employer was referring to an ad campaign from Peloton in 2020.



Davis said that young people “need to educate themselves” on how to use ChatGPT properly and not just to copy answers.



<h2 class="wp-block-heading">‘It should be used as a tool, not a replacement’</h2>



There are several uses for AI in the job application process from helping you prep for interviews or researching a company.  



“In my opinion, you can use ChatGPT in the job search process but it should be used as a tool, not a replacement,” Davis warned.



Michelle Reisdorf, district director at recruitment firm Robert Half, shared a similar view with CNBC Make It previously and said that AI is great for “proofreading and enhancing what you’ve already written but it’s not a one-stop shop to generate the perfect resume.”



Reisdorf added: “Recruiters will be able to tell if you’re not including specific details from your past jobs or writing in a personal, human voice.”&nbsp;



Davis said she uses ChatGPT to help her structure documents, brainstorm ideas, and produce drafts but “I never just type in a question and then copy and paste my responses.”

1675956289-63dd4efae33c4000193ae0c2copy-1

‘Exact same cover letters word for word’: Career consultant says Gen Z are misusing AI

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/SA24_28April_AJAS-01369-1-820x547.jpg" alt="" class="wp-image-483477" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/SA24_28April_AJAS-01369-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/SA24_28April_AJAS-01369-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/SA24_28April_AJAS-01369-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/SA24_28April_AJAS-01369-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/SA24_28April_AJAS-01369-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/SA24_28April_AJAS-01369-1-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Anwar Ibrahim, Prime Minister of Malaysia; Bola Ahmed Tinubu, President of Nigeria; Børge Brende, President, World Economic Forum; Faisal Alibrahim, Minister of Economy and Planning of Saudi Arabia; Kristalina Georgieva, Managing Director, International Monetary Fund (IMF), Washington, DC; Maroun Kairouz, Head of Middle East and North Africa, World Economic Forum; Paul Kagame, President of Rwanda; Peter Orszag, Chief Executive Officer, Lazard, USA; Speaking in the Opening Plenary: A New Vision for Global Development session at the Special Meeting on Global Collaboration, Growth and Energy for Development 2024. Riyadh, Saudi Arabia. 28 April 2024. King Abdul Aziz International Conference Center, Plenary.Copyright: World Economic Forum/Deepu Das</figcaption></figure>



MENA faces multiple challenges, from conflict to economic woes, humanitarian problems, and mounting climate-related issues, all of which are exacerbated by a lack of cohesiveness. As the World Economic Forum’s forthcoming <a href="https://www.weforum.org/events/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024/">Special Meeting on Global Collaboration, Growth and Energy for Development</a> in Riyadh highlights, not only must MENA navigate this context, but also prepare for an emerging economic era, which could be called the “age of intelligent economies”. The idea behind intelligent economies is to have multiple intelligence systems – like artificial intelligence (AI), 5G and the internet of things (IoT) – working together, a situation that is more likely to result in far greater gains and innovations. Currently, however, these technologies are developing in isolation.



AI, particularly generative AI, is receiving a lot of attention, after leaping to the forefront of the wider consciousness during 2023 through apps like ChatGPT. These models are expected to develop to the point where they significantly boost productivity and growth, empower individuals, and address major social challenges. Although MENA’s take up of the tools of the intelligent economy is, like much of the rest of the world, lacking uniformity and a coherent strategy, this hasn’t dampened prospects for parts of the region – <a href="https://frontierview.com/insights/mena-region-aims-to-enhance-advanced-technology/">growth figures for AI</a> have the potential to reach <a href="https://www.pwc.com/m1/en/publications/potential-impact-artificial-intelligence-middle-east.html">$320 billion by 2030</a> – and notably, Saudi Arabia, in March, pledged a <a href="https://www.nytimes.com/2024/03/19/business/saudi-arabia-investment-artificial-intelligence.html">$40 billion</a> AI investment fund.



The region is already using AI to address specific problems, including MENA’s rapidly dwindling supply of potable water. <a href="https://www.thenationalnews.com/opinion/comment/2024/01/05/in-the-mena-region-water-scarcity-is-ais-biggest-challenge-and-opportunity/">Growing water scarcity</a> is a well-documented problem and it is estimated that by 2050, MENA will need an extra 25 billion cubic metres of water annually. This equates to 65 desalination plants the size of the world’s largest, Saudi Arabia’s Ras Al Khair plant. Currently, AI is being used to make the desalination process more cost effective and energy efficient. In time, it is envisaged that AI will better optimize the process, reduce its environmental impact and help detect potential infrastructure vulnerabilities.



As real-world applications multiply for intelligent economy technologies, it is feared that their access and take-up, along with development and growth, will be uneven. For MENA, looking at the issue and pace of digital transformation, attention is mainly focused on the Gulf. There has, for example, been significant <a href="https://economymiddleeast.com/news/generative-ai-in-mena-to-hit-23-5-billion-by-2030/">investment into data centres</a> in these countries since 2022, creating large-scale projects worth hundreds of millions of dollars.



Gulf states are also publishing plans for how to modernize public services through technology. They are also producing measures to promote the growth of the ICT sector, supporting 5G adoption, enhancing the accessibility of digital services to their citizens, and enacting accompanying legislation, particularly in data and cybersecurity. This activity isn’t mirrored in the poorer states.



To take full advantage of the benefits of intelligent economies, the region must pursue four key shifts. The first of these is to play to its strengths. MENA has a massive advantage in having cheap electricity and abundant, unused land, both of which are key inputs for data centres. It should more swiftly green its energy supply, which would in turn, compound its natural advantages, resulting in a more sustainable, lower-cost energy market.



In terms of policy changes and underscoring its strong relations with countries and blocs as diverse as China, Europe and the US, MENA would be well positioned to offer to both “greenshore” and “friendshore” critical industries, such as certain types of semiconductors. To support this transition, it should replace fossil fuel subsidies. The region has made progress in this area, according to the Forum’s <a href="https://initiatives.weforum.org/energy-and-industry-transition-intelligence/energy-transition-index">Energy Transition Index 2023</a>, but continues to spend $500 billion to $600 billion a year, money that could be better spent on social security or intelligent economy investment.



Secondly, MENA needs to pursue more initiatives that will support the push to make AI work in an inclusive and non-biased way. Currently, just 0.7% of the <a href="https://www.arabnews.com/node/2388336/middle-east">top content</a> for large language learning (LLMs) models is in Arabic. In May last year, Abu Dhabi made its AI model, <a href="https://www.reuters.com/technology/abu-dhabi-makes-its-falcon-40b-ai-model-open-source-2023-05-25/">Falcon 40B</a>, open source, &nbsp;in July 2023, <a href="https://www.arabnews.com/node/2388336/middle-east">Jais</a>, the first LLM to support Arabic, was released, and in March this year, Saudi developers released <a href="https://www.middleeastainews.com/p/first-llm-trained-saudi-data-sets">Mulhem</a>, an LLM trained exclusively using Saudi data sets. MENA is ideally placed – in terms of technological know-how and influence – to pursue this further.



This type of activity is ripe for public-private partnerships, as are the changes to facilitate intelligent economies more widely. This is an important third point and will require a significant shift in thinking. The changes that are under way are too large to be handled solely by the public sphere. The private sector needs to be a partner in this transformation, and in doing so, create a strong competitive advantage on the new-look global stage. In this regard, the recent announcement that Microsoft is investing <a href="https://www.google.com/search?client=safari&amp;rls=en&amp;q=G42%2FMicrosoft&amp;ie=UTF-8&amp;oe=UTF-8">$1.5 billion</a> in Abu Dhabi’s AI group, G42, marks a step in the right direction.



A fourth important area is integration. MENA is one of the world’s least integrated regions with just <a href="https://www.economist.com/middle-east-and-africa/2022/09/22/trade-and-security-ties-are-knitting-israel-into-its-region">18%</a> of intra-regional trade. Scale matters and the larger the market, the more attractive the region will become to investors. MENA operating as a region, rather than piecemeal, makes it more likely it can develop technologies that suit its needs. Its oil-rich states have the capital and talent to develop this type of policy, but it needs to extend this regionwide.



Integration would spread gains more equally throughout the region to support nascent strides that are made in countries like Morocco and Tunisia. The former recently inaugurated the <a href="https://aim.um6p.ma/en/home/">Moroccan International Centre for Artificial Intelligence</a>, aiming to transform the nation into a regional AI hub, while the Tunisian AI and tech sectors have made remarkable leaps; notably, German-based company BioNTech has acquired <a href="https://www.instadeep.com/2024/02/time-honours-instadeep-ceo/">InstaDeep for $550m</a>.



It is clear that intelligent economies potentially offer MENA a means to address some of its most pressing challenges. This potential can be realized if technologies are developed holistically and the region works together. Failing to do so, threatens to exacerbate existing problems and scuttle wider progress. That’s why meetings like the one in Riyadh are ever-more important, providing an opportunity to harness dialogue and cooperation for the most pressing and contentious frontier technology challenges and opportunities.



The World Economic Forum is convening the <a href="https://www.weforum.org/events/special-meeting-on-global-collaboration-growth-and-energy-for-development-2024/">Special Meeting on Global Collaboration, Growth and Energy for Development</a> from 28-29 April 2024, in Riyadh.

SA24_28April_AJAS-01369-1

Four steps MENA must take to develop intelligent economies

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="534" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ULFSMF35VNITNPEOTI7CQNT7FU-820x534.jpg" alt="" class="wp-image-483474" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ULFSMF35VNITNPEOTI7CQNT7FU-820x534.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ULFSMF35VNITNPEOTI7CQNT7FU-300x195.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ULFSMF35VNITNPEOTI7CQNT7FU-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ULFSMF35VNITNPEOTI7CQNT7FU-768x500.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ULFSMF35VNITNPEOTI7CQNT7FU-1536x1000.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ULFSMF35VNITNPEOTI7CQNT7FU-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">File photo: A man looks at an item before buying at a spaza shop in Thembisa, on the East Rand, in South Africa, August 2, 2023. REUTERS/Siphiwe Sibeko/File photo</figcaption></figure>



JOHANNESBURG, May 6 (Reuters)&nbsp;&#8211;&nbsp;South African private sector activity rose marginally in April as an improvement in business confidence encouraged companies to expand purchasing activity and staffing levels, a survey showed on Monday.



The S&amp;P Global South Africa Purchasing Managers&#8217; Index (PMI) rose to 50.3 in April from 48.4 in March, its highest reading since February. A reading above 50 shows growth.



Business sentiment was boosted by a drop in rolling power cuts in April and a softer reduction in new orders.



&#8220;Some of the headwinds that have held the private sector back recently showed signs of easing in April, with reduced load shedding (power cuts) and a lesser degree of supply-chain delays signalled,&#8221; said Andrew Harker, economics director at S&amp;P Global Market Intelligence.



Some companies predict an improvement in demand after the general elections on May 29, Harker added.



South Africa went through April without a single day of power cuts by state power utility Eskom.



Eskom said last month it would probably be able to limit rolling power cuts over the winter months as the outlook for its fleet of power stations had improved.



(Reporting by Bhargav Acharya; editing by Christina Fincher)

A man looks at an item before buying at a spaza shop

South Africa business activity rises in April, PMI shows

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="577" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ZU2NFCVHVJILPJH3QX7W7A5FMQ-820x577.jpg" alt="" class="wp-image-483457" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ZU2NFCVHVJILPJH3QX7W7A5FMQ-820x577.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ZU2NFCVHVJILPJH3QX7W7A5FMQ-300x211.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ZU2NFCVHVJILPJH3QX7W7A5FMQ-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ZU2NFCVHVJILPJH3QX7W7A5FMQ-768x540.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ZU2NFCVHVJILPJH3QX7W7A5FMQ-1536x1081.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/ZU2NFCVHVJILPJH3QX7W7A5FMQ-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Election posters of different political parties are seen, as South Africa prepares for national and provincial elections to be held on May 29, in Pretoria, South Africa, April 5, 2024. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, May 6 (Reuters) &#8211; South Africans vote in national and provincial elections on May 29 that could test the African National Congress&#8217; 30-year rule.



After the vote, held every five years, the new National Assembly will choose the country&#8217;s next president from among its members.



Below are facts about the election and the voting process.



<h2 class="wp-block-heading" id="h-electoral-system">ELECTORAL SYSTEM</h2>



Voting is under a proportional system where parties and candidates are competing for 400 seats in the National Assembly.



Parties on the national ballot will contest 200 of those seats while the other 200 are divided between the nine regions and contested by parties and independent candidates.



In provincial legislatures, the number of seats is determined on the basis of the size of the population in each of the nine provinces.



<h2 class="wp-block-heading" id="h-three-ballots">THREE BALLOTS</h2>



For the first time, voters will receive three ballots instead of two on voting day. On each ballot, they will have to choose one party or one candidate.



Two ballots will be used to elect the National Assembly and the third one will be for election of members of the provincial legislature in each province.



<h2 class="wp-block-heading" id="h-candidates">CANDIDATES</h2>



For the first time, independent candidates are allowed to compete for seats in the National Assembly and in provincial legislatures.



In total, the election commission cleared 14,889 candidates who will contest 887 seats in the forthcoming elections.



They were nominated by 70 political parties, except for 11 candidates who are independent.



A total of 31 political parties will contest the national elections for the first time.



<h2 class="wp-block-heading" id="h-voters">VOTERS</h2>



The Independent Electoral Commission (IEC) says 27.79 million people are registered to vote, up from 26.74 million in 2019.



VOTING



Around 23,292 voting stations will be open on May 29 from 0500 GMT to 1900 GMT.



(Reporting by Anait Miridzhanian; Editing by Olivia Kumwenda-Mtambo and Emelia Sithole-Matarise)

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<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Kenyas-weather-outlook-dire-as-cyclone-nears-president-says-820x462.jpg" alt="" class="wp-image-482644" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Kenyas-weather-outlook-dire-as-cyclone-nears-president-says-820x462.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Kenyas-weather-outlook-dire-as-cyclone-nears-president-says-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Kenyas-weather-outlook-dire-as-cyclone-nears-president-says-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Kenyas-weather-outlook-dire-as-cyclone-nears-president-says-768x433.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Kenyas-weather-outlook-dire-as-cyclone-nears-president-says-1536x866.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Kenyas-weather-outlook-dire-as-cyclone-nears-president-says-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A view from a helicopter shows a safari lodge near the swollen river within the flooded area following heavy rainfall in the Talek region, of the Maasai Mara National Reserve in southwestern Kenya, May 1, 2024. Mara Elephant Project/Handout via REUTERS/File Photo</figcaption></figure>



NAIROBI, May 3 (Reuters)&nbsp;&#8211;&nbsp;Torrential rains that caused widespread flooding and landslides across Kenya in recent weeks, killing at least 210 people, are forecast to worsen over the rest of this month, President William Ruto said on Friday.



The floods have wreaked havoc, destroying homes, roads, bridges and other infrastructure across Kenya, East Africa&#8217;s largest economy. The death toll exceeds that from floods triggered by the El Nino weather phenomenon late last year.



&#8220;Sadly, we have not seen the last of this perilous period, as the situation is expected to escalate. Meteorological reports paint a dire picture,&#8221; Ruto said on Kenyan television. &#8220;Kenya may face its first-ever cyclone.&#8221;



Cyclone Hidaya is expected to make landfall in Tanzania, Kenya&#8217;s southern neighbour, on Saturday, bringing with it waves almost eight metres (26 feet) high and 165 kph (100 mph) winds, the IGAD Climate Prediction and Applications Centre said.



&#8220;This cyclone, named Hidaya, that could hit anytime now, is predicted to cause torrential rain, strong winds and powerful and dangerous waves,&#8221; Ruto said.



Earlier this week, Ruto ordered those living in landslide-prone areas to leave for safer ground.



The government has asked people living near 178 dams and water reservoirs, now close to overflowing, as well as those in informal settlements close to rivers and streams, to evacuate.



Ruto said the reopening of all schools for the upcoming term, which was meant to start this week, would be postponed until further notice.



The Nairobi government has set up 115 camps to host people displaced by the flooding, and is working closely with donors and humanitarian organisations to provide food and non-food supplies to those affected, he said.



Opposition leaders and rights groups have criticised Ruto&#8217;s administration for its response to the disaster.



On Thursday, Human Rights Watch accused authorities of failing to put in place a timely national response plan, despite warnings from the Kenya Meteorological Department a year ago about the likely impact of flooding caused by El Nino.



(Reporting by George Obulutsa and Hereward Holland; editing by Mark Heinrich)

FILE PHOTO: A view from a helicopter shows safari lodges near the river within the flooded area following heavy rainfall in the Talek region, of the Maasai Mara

Kenya’s weather outlook ‘dire’ as cyclone nears, president says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/76KI5H4MAFL5ZK7OGV4LXR2UG4-820x547.jpg" alt="" class="wp-image-459116" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/76KI5H4MAFL5ZK7OGV4LXR2UG4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/76KI5H4MAFL5ZK7OGV4LXR2UG4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/76KI5H4MAFL5ZK7OGV4LXR2UG4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/76KI5H4MAFL5ZK7OGV4LXR2UG4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/76KI5H4MAFL5ZK7OGV4LXR2UG4-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/76KI5H4MAFL5ZK7OGV4LXR2UG4-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo</figcaption></figure>



ABUJA/LAGOS, May 3 (Reuters)&nbsp;&#8211;&nbsp;Majors such as Exxon Mobil&nbsp;XOM.N&nbsp;and Shell&nbsp;SHEL.L&nbsp;that aim to exit Nigeria&#8217;s onshore oil can get quicker approval to do so if they take responsibility for spills rather than wait for authorities to apportion blame, the regulator said on Friday.



Exxon, Shell, TotalEnergies, and Eni have all&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N3H516Q&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">sought to leave</a>&nbsp;Nigeria&#8217;s oil-rich Niger delta in recent years citing security concerns, including theft and sabotage, to focus on deepwater drilling. However, their exits have been delayed by regulatory hurdles.



At a meeting with the companies in Abuja, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) chief Gbenga Komolafe offered a short-term option with faster approval if the companies commit to cleaning up spills and compensating communities.



&#8220;We have the undertaking here. The consent here though fixed for June, could be much shorter,&#8221; he said.



&#8220;If you agree to take that option, you sign the undertaking knowing that there are obligations to be fulfilled,&#8221; Komolafe said.



The second long-term option involves waiting for NURPC to identify and assign all liabilities, potentially delaying the final approval until August.



NURPC is seeking to balance a faster&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N3E60OQ&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">exit for oil majors</a>&nbsp;with protecting the environment, local communities, and the long-term viability of the assets



The companies are reviewing the options and will respond soon, they said.



Analysts say the accelerated option could cost oil majors millions of dollars for cleanups and reparations.



The departure of the majors means a total of 26 onshore blocks are on offer, holding an estimated reserve of 13.76 billion barrels of oil, 2.70 billion barrels of condensate, and about 90,717 billion cubic feet of gas, NUPRC said.



&#8220;We aim to ensure that the companies that take over these blocks have the necessary financial resources and possess the technical expertise required to responsibly manage the blocks throughout their lifecycle in accordance with good asset stewardship practices,&#8221; Komolafe said.



(Editing by Elisha Bala-Gbogbo and Barbara Lewis)

FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County

Oil majors offered faster Nigerian exit if they pay for cleanup

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Anglo-CEO-meets-S.Africa-mines-minister-after-BHPs-takeover-proposal-820x547.jpg" alt="" class="wp-image-482625" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Anglo-CEO-meets-S.Africa-mines-minister-after-BHPs-takeover-proposal-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Anglo-CEO-meets-S.Africa-mines-minister-after-BHPs-takeover-proposal-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Anglo-CEO-meets-S.Africa-mines-minister-after-BHPs-takeover-proposal-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Anglo-CEO-meets-S.Africa-mines-minister-after-BHPs-takeover-proposal-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Anglo-CEO-meets-S.Africa-mines-minister-after-BHPs-takeover-proposal-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Anglo-CEO-meets-S.Africa-mines-minister-after-BHPs-takeover-proposal-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Anglo American CEO Duncan Wanblad speaks during the Investing in African Mining Indaba 2023 conference in Cape Town, South Africa, February 6, 2023. REUTERS/Shelley Christians REFILE &#8211; CORRECTING INFORMATION</figcaption></figure>



JOHANNESBURG, May 3 (Reuters)&nbsp;&#8211;&nbsp;Anglo American&nbsp;AAL.L&nbsp;CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group&#8217;s&nbsp;BHP.AX&nbsp;$39 billion&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AFWN3GY2K8&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">takeover bid</a>, a source familiar with the matter told Reuters.



BHP, the world&#8217;s biggest-listed mining group, is privately talking to investors as it weighs up its next move after Anglo&#8217;s rejection of its initial proposal.



Commodities giant Glencore is also&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N3H53AS&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">studying an approach</a>&nbsp;for Anglo, sources told Reuters, a development that could spark a bidding war for the 107-year old mining company.



Anglo declined to comment on the meeting with Mantashe.



The source did not give details of the meeting.



BHP has proposed that Anglo sell its shares in units Anglo Platinum (Amplats) and Kumba Iron Ore as an option to exit the South African assets it does not want included in the deal.



Anglo unanimously rejected the proposal as opportunistic and significantly undervaluing the company and its future prospects.



Its investors are concerned that&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N3H21H1&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">they stand to lose</a>&nbsp;heavily by holding shares in the South African subsidiaries, if they are un-bundled.



There is a risk that South African regulatory authorities, particularly its central bank, could be concerned about capital outflows from foreign investors not willing to hold the shares, the source said.



BHP CEO Mike Henry, who is in South Africa to canvass views from investors on the company’s proposed offer to Anglo, was in &#8220;listening only mode&#8221; during a meeting with a Cape Town-based fund manager on Friday, another source told Reuters.



BHP executives also held a call with South Africa&#8217;s Public Investment Corporation earlier in the week, a separate source said.



Anglo has said it&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N3H22HL&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">will meet its top investors</a>&nbsp;to hear their views on BHP&#8217;s approach.



(Reporting by Felix Njini and Clara Denina, Editing by Veronica Brown and Emelia Sithole-Matarise)

Investing in African Mining Indaba 2023 conference in Cape Town

Anglo CEO meets S.Africa mines minister after BHP’s takeover proposal

Georgia rocked by protests over ‘Russian law’

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="574" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/11/HJTEOAVY5FMF7IXGXS6VBIZ754-820x574.jpg" alt="" class="wp-image-421202" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/11/HJTEOAVY5FMF7IXGXS6VBIZ754-820x574.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/11/HJTEOAVY5FMF7IXGXS6VBIZ754-300x210.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/11/HJTEOAVY5FMF7IXGXS6VBIZ754-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2022/11/HJTEOAVY5FMF7IXGXS6VBIZ754-768x538.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/11/HJTEOAVY5FMF7IXGXS6VBIZ754-1536x1076.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/11/HJTEOAVY5FMF7IXGXS6VBIZ754-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A truck is seen loaded with rocks for processing at an open pit at Dorowa mine in Hwedza, Zimbabwe October 22, 2019. REUTERS/Philimon Bulawayo</figcaption></figure>



HARARE, May 2 (Reuters)&nbsp;&#8211;&nbsp;Zimbabwe&#8217;s only operating nickel mine was on Thursday placed under administration, according to a government notice, seven months after halting production due to equipment failure and low prices.



Zimbabwe&#8217;s government owns 70% of Bindura Nickel Corporation&#8217;s&nbsp;BIND.VF&nbsp;Trojan Nickel Mine which employs about 1,100 people according to Bindura&#8217;s latest annual report.



The reconstruction order was published on Thursday in the Government Gazette which also announced the appointment of an administrator.



Trojan is Zimbabwe&#8217;s only primary nickel producer, though the country&#8217;s platinum miners also produce the metal which is mainly used in steelmaking.



Nickel prices have fallen from record levels above $100,000 in 2022 when they were driven by expectations of reduced supplies from major producer Russia following its invasion of Ukraine, to around $19,000 per ton in the currently oversupplied market. Prices are currently 25% down on their levels a year ago.



Low prices have forced top global producer BHP Group&nbsp;BHP.AX&nbsp;to review its nickel business,&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL3N3FW078&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">warning</a>&nbsp;that 30% of Australian mine capacity had gone offline and another 30% was in trouble due to the squeeze on margins.



Trojan mine&#8217;s nickel concentrate output plunged to 1,314 metric tons in its last financial year, which ended in March 2024, down from 3,180 metric tons the year before.



This was after the mine suspended operations last September following the damage suffered by its ore hoisting equipment during a seismic event. The mine has capacity to produce 5,500 metric tons of nickel concentrate annually.



On April 29, the company said while it had managed to install new ore hoisting gear, it would delay restarting mining operations due to low prices and high costs of inputs such as electricity.



&#8220;BNC needs to mobilise the requisite capital for retooling, with particular emphasis on increasing the availability of



underground mining mobile equipment and the processing plant,&#8221; it said on Thursday.



Trojan mine started production in 1964 under the Anglo American group which sold the asset in 2003.



(Reporting by Nyasha Chingono; Editing by Nelson Banya and Elaine Hardcastle)

A truck is seen loaded with rocks for processing at an open pit at Dorowa mine in Hwedza

Zimbabwe’s sole nickel mine placed under administration

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Fed-and-ECB-divergence-on-rate-cuts-could-spell-trouble-for-the-euro-economist-says-820x462.jpeg" alt="" class="wp-image-482533" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Fed-and-ECB-divergence-on-rate-cuts-could-spell-trouble-for-the-euro-economist-says-820x462.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Fed-and-ECB-divergence-on-rate-cuts-could-spell-trouble-for-the-euro-economist-says-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Fed-and-ECB-divergence-on-rate-cuts-could-spell-trouble-for-the-euro-economist-says-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Fed-and-ECB-divergence-on-rate-cuts-could-spell-trouble-for-the-euro-economist-says-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Fed-and-ECB-divergence-on-rate-cuts-could-spell-trouble-for-the-euro-economist-says.jpeg 929w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The President of the European Central Bank (ECB) Christine Lagarde gestures as she addresses a press conference following the meeting of the governing council of the ECB in Frankfurt am Main, western Germany, on April 11, 2024. Kirill Kudryavtsev | Afp | Getty Images</figcaption></figure>



The prospect of the European Central Bank diverging from the Federal Reserve on interest rate cuts is likely to be “particularly negative” for the 20-nation euro zone, according to one economist.



The ECB&nbsp;<a href="https://www.cnbc.com/2024/04/19/heres-what-12-ecb-members-said-about-interest-rates-this-week.html">appears on course</a>&nbsp;to cut interest rates in June, barring any major surprises, and&nbsp;<a href="https://www.cnbc.com/2024/04/30/euro-zone-inflation-april-2024-and-first-quarter-gdp.html">recent inflation data</a>&nbsp;has since bolstered the case for an imminent reduction in borrowing costs.



The U.S. central bank, meanwhile,&nbsp;<a href="https://www.cnbc.com/2024/05/01/fed-rate-decision-may-2024-.html">held interest rates steady</a>&nbsp;on Wednesday, with the rate-setting Federal Open Market Committee citing a “lack of further progress” in getting inflation back down to its 2% target.



The Federal Reserve&nbsp;<a href="https://www.cnbc.com/2024/05/01/fed-decision-heres-what-changed-in-the-new-statement.html">said in a statement</a>&nbsp;that it did not expect to reduce rates until it had gained “greater confidence” that inflation was moving sustainably back toward its target level, reiterating language it used after the March and January meetings.



It leaves the ECB firmly on track to cut interest rates before the Fed.



“The problem of cutting rates right now is that the ECB takes for granted the strength of the&nbsp;<a href="https://www.cnbc.com/quotes/EUR=/">euro</a>. And if they start to cut rates ahead of the Federal Reserve, that is basically giving the world a signal that the euro needs to weaken,” Daniel Lacalle, chief economist at Tressis Gestion, told CNBC’s “Street Signs Europe” on Thursday.



“And if the euro weakens, the import bill of the euro zone is going to rise, making it even more difficult for the euro area to grow.”



Lacalle said a June rate cut from the ECB was not going to make German, French or Spanish businesses take more credit “because a small rate cut is not the driver of credit demand.” Credit demand refers to the appetite for business and consumer loans.



He added, “What makes credit demand interesting, or rise, is the fact that there [are] economic and investment opportunities and those are curbed by regulation and the misguided energy policy of the euro area.”



An ECB spokesperson declined to comment when contacted by CNBC.



<h2 class="wp-block-heading" id="h-ecb-heading-toward-a-rate-cut"><a></a>ECB heading toward a rate cut?</h2>



Speaking to CNBC on last month, ECB President Christine Lagarde&nbsp;<a href="https://www.cnbc.com/2024/04/16/lagarde-says-ecb-will-cut-rates-soon-barring-any-major-surprises.html">said</a>&nbsp;the central bank remained on course to cut interest rates in the near term, subject to any additional shocks.



“We just need to build a bit more confidence in this disinflationary process but if it moves according to our expectations, if we don’t have a major shock in development, we are heading towards a moment where we have to moderate the restrictive monetary policy,” Lagarde said on April 16.



Official figures&nbsp;<a href="https://www.cnbc.com/2024/04/30/euro-zone-inflation-april-2024-and-first-quarter-gdp.html">published</a>&nbsp;Tuesday showed that prices in the euro area held steady at 2.4% in April, while the economy returned to growth over the first three months of the year.



Gross domestic product rose by 0.3% over the first quarter, slightly better than consensus economist expectations. GDP for the fourth quarter of 2023 was revised from no growth to a 0.1% contraction, which means that the euro zone was in a technical recession in the second half of last year.



Tressis Gestion’s Lacalle said one prevailing market narrative was that high interest rates in Europe were to blame for sluggish economic growth. “However, the euro zone slowdown has absolutely nothing to do with rate hikes,” he said.



Instead, Lacalle said recent economic weakness across the euro zone should be attributed to the bloc’s energy policy, regulatory measures and farming and agricultural policy.



— CNBC’s Jeff Cox &amp; Jenni Reid contributed to this report.

Fed-and-ECB-divergence-on-rate-cuts-could-spell-trouble-for-the-euro-economist-says

Fed and ECB divergence on rate cuts could spell trouble for the euro, economist says

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Chad-prepares-to-vote-in-a-coup-hit-region-wary-allies-look-on-820x547.jpg" alt="" class="wp-image-482530" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Chad-prepares-to-vote-in-a-coup-hit-region-wary-allies-look-on-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Chad-prepares-to-vote-in-a-coup-hit-region-wary-allies-look-on-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Chad-prepares-to-vote-in-a-coup-hit-region-wary-allies-look-on-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Chad-prepares-to-vote-in-a-coup-hit-region-wary-allies-look-on-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Chad-prepares-to-vote-in-a-coup-hit-region-wary-allies-look-on-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/05/Chad-prepares-to-vote-in-a-coup-hit-region-wary-allies-look-on-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Supporters of Chadian interim President Mahamat Idriss Deby attend his presidential campaign rally ahead of the May elections in Moundou, Chad April 25, 2024. REUTERS/ Gilles Chris Namia Rimbarne/File Photo</figcaption></figure>



N&#8217;DJAMENA, May 3 (Reuters)&nbsp;&#8211;&nbsp;Chad will hold presidential elections on Monday, making it the first in a string of coup-hit states across Central and West Africa to use the ballot box to try to emerge from years of military rule.



Opposition groups have already cried foul.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N3DR0AN&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">The candidate</a>&nbsp;widely expected to win is Mahamat Idriss Deby &#8211; the man who&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N2MF76P&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">seized power</a>&nbsp;the day rebels&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N2MD0Q3&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">shot and killed</a>&nbsp;his long-ruling father, Idriss Deby, in April 2021.



But Chad&#8217;s Western allies have largely stayed quiet and kept watch &#8211; hoping, analysts say, that at the very least, the vote will deliver a relatively stable state in a region hit by militant violence where Russia is also pushing for influence.



Among those Western countries is Chad&#8217;s former colonial ruler France which still has war planes and 1,000 troops there, most recently helping Chad and its neighbours combat the Islamist fighters of Boko Haram.



Chad is now the last Sahel country with a substantial French military presence after other junta-led states including neighbouring Niger as well as Burkina Faso and Mali, told Paris and other Western powers to&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N3FU0I9&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">remove their troops</a>&nbsp;and turned&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N3GK399&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">to Moscow for backing</a>.



The priorities of regional and Western powers will be to push for stability and shore up their positions in the country, analysts say.



&#8220;Chad is just too strategic at the moment for the West to allow Russia to get an opening,&#8221; Ulf Laessing, head of the Sahel programme at the Konrad Adenauer Foundation, said.



It is not just strategic in terms of security, but also on the hot-button issue of migration.



Chad has accepted a huge influx of refugees from Sudan, where civil war has created the&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N3GN0S4&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">world&#8217;s largest displacement crisis</a>. Laessing said some refugees have crossed to Niger, which last year repealed a law aimed at slowing migration to Europe.



&#8220;It&#8217;s another reason for Western countries to keep the relationship with Chad despite the dismal human rights record,&#8221; he added.



An election win would bolster Deby&#8217;s credentials as an ally. &#8220;Western policy makers can say at least he was elected,&#8221; Laessing said.



There are fears the turmoil could be testing old ties in the oil-producing country&nbsp;that lies&nbsp;next to the war-torn states of Sudan, Libya and Central African Republic and the economic powerhouse of Nigeria.



Mahamat Idriss Deby, who took on the title of interim president after his takeover, met French President Emmanuel Macron in Paris in October last year. He also met Russian President Vladimir Putin in Moscow&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N3EE1YQ&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">in January</a>.



In April, Chad&#8217;s air force chief&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N3GY33I&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">ordered the U.S.</a>&nbsp;to halt activities at an air base near the capital N&#8217;Djamena, saying there was a problem with their paperwork.



Weeks later, the U.S. announced a temporary&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N3GY33I&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">withdrawal</a>&nbsp;of at least some of its troops and said it would continue with a review of security operations after the vote.



PROTESTS, RIVALS, VIOLENCE



Concerns about human rights have also mounted since the younger Deby&#8217;s takeover.



He initially promised an 18-month transition after his father&#8217;s death, but his government later adopted resolutions that postponed&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N3FC73Q&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">elections</a>&nbsp;and allowed him to run for president.



The delay triggered protests that security forces violently quelled, killing&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL8N31L2NU&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">around 50 civilians</a>.



Opposition figure Yaya Dillo was&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N3FE5TP&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">shot and killed</a>&nbsp;in N&#8217;Djamena on Feb. 28, the day the election date was announced. The opposition has called Dillo&#8217;s death an assassination and forensic experts have said he was&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N3FX5DS&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">likely shot at point-blank range</a>.



Chadian authorities said he was killed during an exchange of fire with security forces who had been sent to detain him for alleged involvement in clashes.



One of Deby&#8217;s most prominent challengers on Monday will be Succes Masra &#8211; a political opponent who spent a year in exile from 2022-2023, then shocked Chadians by agreeing to become Deby&#8217;s&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL1N3DR0AN&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">prime minister</a>.



He will also be running against former prime minister Albert Pahimi Padacke and seven other candidates, including Lydie Beassemda, the only woman going for the top job.



&#8220;Masra&#8217;s decision &#8230; was a bit surprising, because, during the demonstrations and the deaths, people were saying they wanted change and they saw Succes Masra as the face of change,&#8221; Babacar Ndiaye, research director at think tank WATHI, said.



Some opposition parties and civil society groups have called for a boycott of the vote, saying Deby and his allies control the main institutions of power and could influence the process.



&#8220;This is an election to consecrate the reign of the current leader of the transition,&#8221; Abderramane Goussoumian, head of the civil society network CSAPR, said.



But for Abakar Moussa Seid, a member of the opposition National Rally for Democracy in Chad party, a boycott would amount to a surrender.



&#8220;The only democratic way to end the perpetuation of the power of the Deby dynasty is through the ballot box,&#8221; he said.



(Editing by Bate Felix and Andrew Heavens)

Chad’s interim President Deby attends his presidential campaign rally in Moundou

Chad prepares to vote in a coup-hit region, wary allies look on

Here’s how floodplain buyouts work

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/07/PKJQ7JMDLFNENCLG7LH25JBXNY-1-820x547.jpg" alt="" class="wp-image-426016" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/07/PKJQ7JMDLFNENCLG7LH25JBXNY-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/PKJQ7JMDLFNENCLG7LH25JBXNY-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/PKJQ7JMDLFNENCLG7LH25JBXNY-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/PKJQ7JMDLFNENCLG7LH25JBXNY-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/PKJQ7JMDLFNENCLG7LH25JBXNY-1-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/07/PKJQ7JMDLFNENCLG7LH25JBXNY-1-scaled.jpg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A labourer dehusks rice before loading it in bags at a processing unit in the town of Fanaye, on the outskirts of Saint Louis, Senegal September 13, 2022. REUTERS/Zohra Bensemra</figcaption></figure>



SINGAPORE, May 2 (Reuters)&nbsp;&#8211;&nbsp;Global rice supplies have stabilised after last year&#8217;s rally, although the market remains vulnerable to risks from dry weather caused by the El Nino, a senior executive at commodity merchant Louis Dreyfus Co (LDC) said.



Rice prices in key Asian export hubs&nbsp;RI-THBKN5-P1,&nbsp;RI-VNBKN5-P1&nbsp;have eased in recent weeks after climbing last year to their highest&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL4N3AB12M&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">since 2008</a>&nbsp;following an export ban by India, the world&#8217;s biggest shipper.



&#8220;It does seem like we went through a very tight situation. You had the export ban in India and Indonesia came to buy a very large volume of rice,&#8221; Rubens Marques, LDC&#8217;s chief executive for South and Southeast Asia, said in an interview.



&#8220;The combination of these two factors, I think, was too much for the market to handle, which ended up pushing prices up. It does seem like the supply and prices have stabilised.&#8221;



India&#8217;s July export ban ended a decade of price stability for the world&#8217;s most-widely consumed staple and heightened food inflation pressure.



Marques said rice supplies remain vulnerable to adverse weather.



&#8220;We cannot deny that climate change has had an impact and may still have an impact in terms of having this El Nino and having drier than expected weather,&#8221; he said.



The&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N3GY40S&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">El Nino weather phenomenon</a>&nbsp;is a warming of the Pacific Ocean waters along the equator off the coast of South America. The pattern typically causes hot,&nbsp;dry weather in Asia, impacting vast swathes of rice growing regions.



The market is focusing in the coming months on production from irrigated crops.



&#8220;We need to keep an eye on the levels of reservoirs in some of the key producing countries. In May, June, we should know a bit more about what is going to happen with the irrigated crops,&#8221; he said.



LDC, among the biggest rice merchants, supplies buyers in Asia, Africa and the Middle East.



WEATHER RISK



The unpredictability of weather patterns fuelled by climate change is leading to further supply disruption.



&#8220;I think the biggest thing about El Nino, and it&#8217;s not talked enough about, is the unpredictability of the weather events, he said.



&#8220;The weather events have always been there, but it&#8217;s now how unpredictable it has become and how difficult it has become for the trade to basically solve those imbalances,&#8221; he said.



Last year&#8217;s price rally led to lower rice demand from some countries.



&#8220;You have to keep in mind that a lot of the rice in India ends up in Africa, which is a very price-sensitive market,&#8221; he said. &#8220;And on the way up, I think the market has done its job of rationing demand.&#8221;



India&#8217;s export prices fell to their lowest in over three months last week on subdued demand and ample supplies, while Thailand&#8217;s prices remained largely flat.&nbsp;RIC/AS



For the wheat market, the coming months are crucial for northern hemisphere crops, Marques said.



Benchmark prices&nbsp;Wv1&nbsp;climbed nearly 8% in April, following dryness in parts of Russia and the United States.



&#8220;I don&#8217;t know how much weather premium is already priced in,&#8221; he said. &#8220;There&#8217;s upside potential if you see less than expected rains in the northern hemisphere.&#8221;



Chicago wheat futures edged higher on Thursday as traders assessed whether rainfall in U.S. and Russian crop areas was enough to alleviate dryness that threatens yields.&nbsp;GRA/



(Reporting by Naveen Thukral and Tony Munroe; Editing by Christian Schmollinger)

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