<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/STGRVJG24JLG5H7LHUH3IYPOV4-scaled.jpg" alt="" class="wp-image-459177" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/02/STGRVJG24JLG5H7LHUH3IYPOV4-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/STGRVJG24JLG5H7LHUH3IYPOV4-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/STGRVJG24JLG5H7LHUH3IYPOV4-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/STGRVJG24JLG5H7LHUH3IYPOV4-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/STGRVJG24JLG5H7LHUH3IYPOV4-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/02/STGRVJG24JLG5H7LHUH3IYPOV4-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: A sign board is seen near the Sibanye gold mine in Westonaria, west of Johannesburg, April 6, 2016. REUTERS/Siphiwe Sibeko</figcaption></figure>



Aug 22 (Reuters)&nbsp;&#8211;&nbsp;Sibanye Stillwater&nbsp;SSWJ.J&nbsp;has secured a 500 million euros ($557.30 million) financing package to complete its Keliber lithium project in Finland, the miner said on Thursday.



The South African company owns 79.8% of Keliber after it invested in the project in 2021 to diversify away from platinum and gold production into battery metals amid a global shift towards cleaner energy.



State-owned Finnish Minerals Group and other Finnish investors own the remaining stake in the Keliber project.



Sibanye got 250 million euros from export credit guarantee agencies including Finland&#8217;s state-owned Finnvera, 150 million euros from the European Investment Bank and a syndicated tranche of 100 million euros from commercial banks.



The funding meets Keliber&#8217;s final capital expenditure requirements of about 667 million euros to complete the project, Sibanye said. About 250 million euros was previously raised through equity.



&#8220;The financing solution that has now been secured enables the construction phase to be completed and the production of battery-grade lithium hydroxide to begin,&#8221; Matti Hietanen, CEO of Finnish Minerals Group, said.



When completed, Keliber is expected to have annual production of about 15,000 metric tons of battery-grade lithium hydroxide monohydrate for at least 16 years, according to Sibanye&#8217;s website.



Sibanye CEO Neal Froneman said the funding provided by European lenders showed the project&#8217;s &#8220;strategic importance to the European clean energy transition&#8221;.



The funding also &#8220;significantly improves the group&#8217;s liquidity, effectively ring-fencing the existing group facilities for operational requirements&#8221;, Froneman added.



On Wednesday, Sibanye said it had agreed a $101 million gold prepayment deal to raise cash to help repay loans after a slump in platinum group metal prices hurt its income.



It has also agreed to refinance its 5.5 billion rand ($306.86 million) revolving credit facility with South African banks, which was increased to 6 billion rand.



($1 = 0.8972 euros)



($1 = 17.9233 rand)



(Reporting by Nelson Banya; Editing by Shounak Dasgupta)

FILE PHOTO: FILE PHOTO: A sign board is seen near the Sibanye gold mine in Westonaria

Miner Sibanye gets 500 mln euros financing to complete Finland lithium project

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1292" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Nomthi-Nelwamondo-05.04.2024-2PP-1-scaled.jpg" alt="" class="wp-image-521967" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Nomthi-Nelwamondo-05.04.2024-2PP-1-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Nomthi-Nelwamondo-05.04.2024-2PP-1-300x189.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Nomthi-Nelwamondo-05.04.2024-2PP-1-820x517.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Nomthi-Nelwamondo-05.04.2024-2PP-1-143x90.jpg 143w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Nomthi-Nelwamondo-05.04.2024-2PP-1-768x484.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/Nomthi-Nelwamondo-05.04.2024-2PP-1-1536x969.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Nomthi Nelwamondo, Chief Information Officer at MTN South Africa</figcaption></figure>



Diverse and inclusive teams perform better, are more creative and make better decisions. They are 70% more likely to develop solutions that provide the business with access to new markets and drive innovation. Diversity unlocks collaborative approaches and alternative viewpoints that shift perspectives and transform product and team dynamics. Yet, women remain significantly under-represented in technology roles both locally and globally.



In South Africa, it is estimated that only 23% of technology roles are held by women and globally, only 25% of leadership positions in the sector are occupied by women. A McKinsey study with LeanIn.org found that while 86 women are promoted to managerial roles for every 100 men, in technical roles, the ratio drops dramatically to 52 women for every 100 men.



Globally, women hold just 14% of tech leadership roles, but in South Africa, this metric is shifting. Women are increasingly stepping into CIO positions, becoming the change agents the industry needs, and reimagining the boundaries that have traditionally held them back.



This spirit of change is embodied at MTN South Africa, where we have embraced female leadership in the CIO role for the first time. This milestone marks a significant evolution in the role, as I navigate the dual demands of maintaining operational excellence and driving transformation. The CIO role requires both strategic oversight and tactical execution – a juggling act that I believe comes naturally to women. We are accustomed to balancing work, professional development, and family responsibilities, which translates into an ability to focus on multiple priorities simultaneously.



Despite this progress, women are still under-represented in the sector. The reasons are multi-faceted spanning societal expectations, inflexible working conditions, and environments that historically limit growth. However, this is changing. Women today can thrive in technology and



leadership roles without compromising other aspects of their lives. The challenge is not women’s ability to succeed in technology, but their visibility in the sector.



Historically, there have been few role models for women in technology leadership. The roles of CIO, CTO, CISO, and CEO have traditionally been dominated by men. Even in South Africa, which is considered one of the most progressive countries globally regarding gender parity in leadership, women only hold 35% of board positions and 25% of executive roles. As the dynamic shifts, women can now see that these roles are within their reach, and their insights and skills are immensely valuable.



I come from a family with three brothers and a father who believed in my potential. They never doubted my ability to become a CIO, and neither did I. I knew I could overcome the limitations imposed by outdated attitudes, and so did MTN South Africa. At MTN, we are committed to championing the development of women’s careers and ensuring that the best person is hired for the job, regardless of gender.



This commitment creates opportunities. Stepping into this role has allowed me to reshape it, optimising teamwork, delegation and wellbeing. I recognise the importance of balance in a high-stress environment, so I lead by example, delegating tasks to team members and sharing the load to ensure we all have time to recharge.



This is just one example of how MTN South Africa is demonstrating next-generation operational maturity. As we celebrate our 30th&nbsp;anniversary, it’s crucial to highlight our pivotal role in the evolution of technology in South Africa, and now, today, the advancement of women in this space. MTN South Africa is deliberate in its decisions regarding our female colleagues and the opportunities they receive. Thirty years ago, we may not have focused on empowering young girls, but today, our commitment to gender equity runs parallel to our country’s democratic journey. Both are growing, expanding their reach, and redefining the potential of South Africa and its people.



As we reflect on 30 years of democracy, it is time to celebrate the strides women have made in breaking down barriers and excelling in roles where they can thrive. Moving forward, we must continue to create opportunities for women in technology so that they can lead, inspire, innovate, and transform the industry.

Nomthi Nelwamondo 05.04.2024-2PP 1

The advancement of women in technology: Overcoming under-representation and igniting gender diversity

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg" alt="" class="wp-image-505639" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-768x513.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1161864863-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A South African one rand coin sits on South African rand banknotes in this arranged photograph in Pretoria, South Africa, on Wednesday, Aug. 14, 2019. The rand ended a tumultuous week on a positive note, gaining against the dollar for a second day and heading for its first weekly advance in four as technical indicators suggested recent declines are overdone. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Aug 22 (Reuters)&nbsp;&#8211;&nbsp;The South African rand weakened in early trade on Thursday, ahead of a slew of U.S. economic data which may give hints on the future interest rate path of the world&#8217;s biggest economy.



At 0615 GMT, the rand traded at 17.90 against the dollar, about 0.4% weaker than its previous close.



&#8220;EM (emerging market) currencies are trading off their recent stronger levels with the rand softening to R17.90 against the dollar&#8230; this morning,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.



&#8220;Today, we have a range of U.S. data indicators that could provide some insight into the U.S. economy and labour market&#8230; while tomorrow, we have (Federal Reserve Chair Jerome) Powell&#8217;s opening address at Jackson Hole,&#8221; Cilliers said.



The Jackson Hole Economic Symposium of global central bankers starts on Thursday, with Powell set to speak on Friday. Markets hope Powell&#8217;s speech will offer further insights into the interest rate path of the U.S.



Federal Reserve minutes released on Thursday revealed the U.S. was on track for an interest rate cut in September after a &#8220;vast majority&#8221; of officials said such an action was likely.



Like other risk-sensitive currencies, the rand often takes cues from global drivers like U.S. monetary policy in the absence of major local factors.



South Africa&#8217;s benchmark 2030 government bond was unchanged in early deals, with the yield at 9.12%.



(Reporting by Tannur Anders; Editing by Bernadette Baum)

South African Rand Rebound Snaps Streak of Weekly Losses

South African rand softens, focus on Fed rate path

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



NAIROBI, Aug 22 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



Kenya&#8217;s Finance Minister John Mbadi will host a meeting to discuss how to boost the mobilization of climate finance across Africa.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Oil fell for a fifth day in a row on demand jitters on Thursday, stocks were subdued in Asia, and the dollar hovered near one-year lows as Federal Reserve minutes signalled that U.S. interest rate cuts are set to begin in a few weeks&#8217; time.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices fell for a fifth session on Thursday as global demand concerns exerted pressure on the market despite a decline in U.S. fuel inventories.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



The South African rand softened on Wednesday as local inflation fell to a three-year low in July, solidifying analysts&#8217; expectations of an interest rate cut by the South African Reserve Bank next month.



<h2 class="wp-block-heading" id="h-mali-security">MALI SECURITY</h2>



The military juntas of Burkina Faso, Mali and Niger have written to the U.N. Security Council to denounce what they said was Ukraine&#8217;s support for rebel groups in West Africa&#8217;s Sahel region, Mali&#8217;s foreign ministry said.



<h2 class="wp-block-heading" id="h-uganda-oil">UGANDA OIL</h2>



Uganda is exploring for oil in two new regions where potential discoveries of crude could increase the East African country&#8217;s proven reserves of 6.5 billion barrels, its energy minister said on Wednesday.



<h2 class="wp-block-heading" id="h-rwanda-rates">RWANDA RATES</h2>



Rwanda&#8217;s central bank lowered its key interest rate by 50 basis points to 6.5% on Wednesday, its second cut in a row, saying inflation was projected to remain within its target band at around 5% on average.



<h2 class="wp-block-heading" id="h-kcb-group-results">KCB GROUP RESULTS</h2>



Kenyan lender KCB Group&#8217;s pretax profit for the first half of this year rose 70% to 38.11 billion shillings ($297 million), up from 22.46 billion shillings in the same period in 2023, it said on Wednesday.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Aug 22

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-501467" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



JOHANNESBURG, Aug 22 (Reuters)&nbsp;&#8211;&nbsp;The following equity and currency market moves may affect South African markets on Thursday.



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



The South African rand softened on Wednesday as local inflation fell to a three-year low in July, solidifying analysts&#8217; expectations of an interest rate cut by the South African Reserve Bank next month.



In the stock market, the Top-40 index closed 0.33% higher.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian shares inched higher while the dollar was pinned to one-year lows on sterling and the euro on Thursday as Federal Reserve minutes showed policymakers were ready to start cutting U.S. interest rates.



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



U.S. stocks advanced on Wednesday amid range-bound trading after investors parsed a steep downward revision in payrolls, and the release of the minutes from the most recent meeting of the Federal Reserve, which cemented expectations for a September rate cut.



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



Gold prices fell on Thursday, retreating from all-time highs hit earlier this week, as the U.S. dollar ticked up ahead of U.S. jobs data and the Federal Reserve chief&#8217;s speech that could offer further insights into the interest rate outlook.



&#8211; &#8211; &#8211; &#8211;



Some of the main stories out in the South African press:



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



&#8211; Consumer purchasing power falls 44% in eight years



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



&#8211; Stats SA admits to serious flaws in Census 2022 data



&#8211; Eskom, Transnet move to new departments as govt preps for private sector involvement, reform



(Compiled by Tannur Anders)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Aug 22

How hydrogen could change the future of space exploration

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1600" height="900" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/106079953-1565841404120gettyimages-1161631096.jpeg" alt="" class="wp-image-521928" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/106079953-1565841404120gettyimages-1161631096.jpeg 1600w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/106079953-1565841404120gettyimages-1161631096-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/106079953-1565841404120gettyimages-1161631096-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/106079953-1565841404120gettyimages-1161631096-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/106079953-1565841404120gettyimages-1161631096-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/106079953-1565841404120gettyimages-1161631096-1536x864.jpeg 1536w" sizes="auto, (max-width: 1600px) 100vw, 1600px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



The U.S. 10-year Treasury rose on Thursday as dovish minutes from the latest Federal Reserve meeting and a large revision lower in preliminary payrolls data bolstered expectations of an interest rate cut next month.



The yield on the 10-year Treasury was up more than 2 basis points at 3.799%, while the yield on the 2-year Treasury was roughly 1 basis point higher at 3.929%.



Yields and prices move in opposite directions. One basis point equals 0.01%.



Market participants are firmly pricing in an interest rate cut at the U.S. central bank’s next meeting. Traders are currently pricing in a roughly 66% chance of a 25-basis-point rate cut in September, with just over one-third pricing in a 50-basis-point rate cut, according to the CME Group’s FedWatch Tool.



It comes shortly after the summary of minutes from the Fed’s July meeting said that the “vast majority” of participants “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.”



Investors on Wednesday also reacted to a significant downward revision to U.S. hiring figures, which showed there were 818,000 fewer jobs than originally reported in the 12-month period through March 2024.



Attention now turns to comments made at the annual Jackson Hole symposium that kicks off on Thursday. Federal Reserve Chair Jerome Powell is scheduled to speak on Friday.



On the data front, the latest reading of weekly initial jobless claims will be released at around 8:30 a.m. ET on Thursday.



A flash reading of manufacturing purchasing managers’ index (PMI) for August and services PMI for August, existing home sales data for July and the Kansas City Fed’s survey for August will all follow slightly later in the session.



— CNBC’s Alex Haring, Sophie Kiderlin &amp; Jesse Pound contributed to this report.

106079953-1565841404120gettyimages-1161631096

Treasury yields rally as Federal Reserve signals readiness for September rate cut

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="565" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/APQE2ALP6RL6DHFPPT6WZO3ITU-820x565.jpg" alt="" class="wp-image-521910" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/APQE2ALP6RL6DHFPPT6WZO3ITU-820x565.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/APQE2ALP6RL6DHFPPT6WZO3ITU-300x207.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/APQE2ALP6RL6DHFPPT6WZO3ITU-131x90.jpg 131w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/APQE2ALP6RL6DHFPPT6WZO3ITU-768x529.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/APQE2ALP6RL6DHFPPT6WZO3ITU-1536x1058.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/APQE2ALP6RL6DHFPPT6WZO3ITU-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Samburu pastoralist slaughter livestock in the de-stocking of emaciated animals in a program by the government and the Kenya Red Cross to buy livestock, slaughter and distribute the meat as relief food to the most affected families following a prolonged drought near Lengusaka in Wamba, Samburu county, Kenya July 27, 2022. REUTERS/Thomas Mukoya</figcaption></figure>



KILIFI COUNTY, Kenya, Aug 22 (Thomson Reuters Foundation)&nbsp;&#8211;&nbsp;When farmer Teresa Kahindi harvested nearly two tonnes of maize two years ago amid a severe drought, her neighbours in the Kenyan coastal county of Kilifi accused her of witchcraft.



Many of her fellow farmers had not produced even a single sack, weighing about 90 kg, of the staple, during the fifth consecutive season of almost no rain in eastern Kenya, where arid conditions can devastate harvests.



&#8220;They said I was a witch,&#8221; said Kahindi, 53, while strolling through her fields of black-eyed peas, mung beans, cassava, finger millet and sunflowers.&#8221;But it&#8217;s not true. We can&#8217;t farm like we used to do. Now we must rely on climate forecasts.&#8221;



Kahindi&#8217;s drought-defying harvest was thanks to a sophisticated early-warning system that includes cutting-edge meteorological data, radio and text alerts and on-the-ground teams that ensure communities can take pre-emptive action to avoid crop losses.



In March 2022, a month before the rainy season was due to begin, Kahindi was advised to adapt her plans at a seminar for farmers run by county officials.



She prepared her plots with manure to enhance water retention, covered the soil with dry grass mulching to reduce evaporation and planted drought-tolerant maize seeds, which require less water and mature faster than other varieties.



&#8220;Knowledge can transform farming,&#8221; says Kahindi.



Kenya&#8217;s early warning system, funded by the government and a patchwork of international agencies, may offer a template for countries to meet the United Nation&#8217;s 2022 goal to protect &#8220;all people on Earth&#8221; by 2027 through early warning systems.



The U.N. launched the Early Warnings for All Action Plan for Africa in Kenya&#8217;s capital of Nairobi last year in an effort to accelerate a slow rollout in other parts of the continent.



&#8220;In terms of early warning, Kenya stands out as a big brother for East Africa,&#8221; said Zablon Shilenje, the World Meteorological Organization&#8217;s coordinator for Africa.



<h2 class="wp-block-heading" id="h-reducing-famine-risk">REDUCING FAMINE RISK</h2>



As extreme weather events increase due to manmade climate change, the Kenyan model allows farmers to switch agricultural techniques or the crops they cultivate to adapt to predicted conditions, such as intense droughts or heavy floods.



Between 2020 and 2022, the Horn of Africa suffered its worst drought in at least 70 years, exacerbated by the climate phenomenon La Niña. Some 23 million people required humanitarian aid at a cost of more than $1.8 billion.



More people will be exposed to drought as the region&#8217;s population is set to double to 400 million by 2055.



Food security experts say Kenya&#8217;s early warning system has mitigated the impact of disasters – in turn minimising the likelihood of famine in one of the world&#8217;s most food insecure regions.



Between 2010 and 2011, when repeated droughts struck the East African nation, 2.8 million Kenyans were left &#8220;severely hungry.&#8221;



Thanks to early warnings, a million fewer people suffered during similar droughts in 2016 and 2017, even as the U.S. government halved its spending on food aid, according to a report by the U.S. Agency for International Development, or USAID.



The effort to predict droughts dates back to 1985 with the founding of the Famine Early Warning Systems Network (FEWS NET), a USAID-funded programme that began in the aftermath of a catastrophic Ethiopia famine but now covers more than 50 countries.



Supported by Kenya&#8217;s National Drought Management Authority (NDMA) and Agriculture Ministry, as well as international NGOs, the system uses high-resolution satellite, crop and other climate data to predict the risk of drought, sometimes up to eight months in advance.



Local authorities interpret, verify and communicate forecasts to millions of farmers through radio, television, SMS and WhatsApp messages and sometimes provide them with subsidised fertilisers and seeds.



&#8220;We are able to foresee severe events in a timely manner,&#8221; said David Gikungu, director of the Kenya Meteorological Department.



<h2 class="wp-block-heading" id="h-come-a-long-way">&#8216;COME A LONG WAY&#8217;</h2>



Advances in data collection, modelling and satellite monitoring have helped make early warning more reliable over the years, said Chris Funk, director of the Climate Hazards Center at UC Santa Barbara, which processes most of FEWS NET&#8217;s data.



Other improvements include an understanding of the complex climatic conditions that drive drought in the Horn of Africa and the region&#8217;s communications infrastructure.



&#8220;We&#8217;ve really come a long way,&#8221; Funk said. &#8220;We have an impressive suite of tools now. It&#8217;s been successful in stopping people from starving.&#8221;



A study of FEWS NET data by U.S. researchers found 92 percent of early warnings in Kenya were accurate, aided by better monitoring of socioeconomic factors, such as food prices and violent conflict.



While Kenya&#8217;s early warning system is now highly accurate at predicting natural disasters, critics say decisionmakers don&#8217;t always act on time or with enough financial support.



&#8220;Unless the government and other stakeholders put up the resources, then it can&#8217;t work,&#8221; said James Odour, NDMA&#8217;s director from 2012 to 2022.



&#8220;Unless action is taken on the early warning, then it&#8217;s pointless.&#8221;



Nelson Mutanda, responsible for early warning systems at the NDMA, said the government instructed counties to allocate 2% of their annual budgets to early warning and gave local authorities the responsibility of managing funds.



&#8220;Counties have enough budget (to fund early warnings),&#8221; he said. &#8220;But some don&#8217;t prioritise it. They can&#8217;t come crying to us for support just because they haven&#8217;t properly prepared.&#8221;



He added: &#8220;And we expect farmers who are capable should take initiative without waiting for funding.&#8221;



<h2 class="wp-block-heading" id="h-last-mile">&#8216;LAST MILE&#8217;</h2>



Research suggests pre-emptive intervention can save billions of dollars. A 2022 report by the World Bank found that spending $1 billion on early warnings can avert $35 billion of disaster-related losses annually.



Another major challenge is disseminating warnings to rural populations.



In Kenya&#8217;s southern county of Kajiado, home to the pastoralist Indigenous Maasai, drought warnings may not be understood, due to illiteracy rates, or sometimes are not even delivered when there are gaps in government or humanitarian resources.



&#8220;I need help, I would accept training,&#8221; said Ole Mwato, a 46-year-old Maasai who lost 20 cows and 80 goats in the 2020-2022 droughts.



&#8220;It&#8217;s a lot of pain to lose the animals. There was no grass, no water. That&#8217;s why they died.&#8221;



Others are resistant to undertaking laborious tasks, such as digging pits to retain water, seeing it as a potential waste of time because past forecasts were unreliable or traditional cultural beliefs that say the rains are controlled by the gods.



To improve forecast accuracy, 50 low-cost, 3D-printed automatic weather stations, capable of sending highly accurate meteorological data every 15 minutes, are being installed by FEWS NET across Kenya, including three in Kilifi.



For now, Kahindi is leading by example, encouraging local farmers to adapt their methods to future weather in order to maximise yields.



&#8220;We must work together to beat famine,&#8221; she said.



(Reporting by Peter Yeung; Editing by Ayla Jean Yackley. The Thomson Reuters Foundation is the charitable arm of Thomson Reuters.)

In northern Kenya, drought may keep some herders from voting in Samburu

In Kenya, drought-weary farmers reap rewards of early warnings

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2M7MCF2JIZO4NFMGJBAKSQL3JI-820x547.jpg" alt="" class="wp-image-521660" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2M7MCF2JIZO4NFMGJBAKSQL3JI-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2M7MCF2JIZO4NFMGJBAKSQL3JI-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2M7MCF2JIZO4NFMGJBAKSQL3JI-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2M7MCF2JIZO4NFMGJBAKSQL3JI-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2M7MCF2JIZO4NFMGJBAKSQL3JI-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2M7MCF2JIZO4NFMGJBAKSQL3JI-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Customers wait to be served in the banking hall at the Kenya Commercial Bank (KCB), Kencom branch in Nairobi, Kenya July 10, 2018. Picture taken July 10, 2018. REUTERS/Thomas Mukoya/File Photo</figcaption></figure>



NAIROBI, Aug 21 (Reuters)&nbsp;&#8211;&nbsp;Kenyan&nbsp;lender&nbsp;KCB Group&#8217;sKCB.NR&nbsp;pretax profit for the first half of this year rose 70% to 38.11 billion shillings ($297 million), up from 22.46 billion shillings in the same period in 2023, it said on Wednesday.



The company said its board of directors had recommended an interim dividend payout amounting to 4.8 billion shillings, the biggest interim dividend in its history.



The group also operates in Democratic Republic of Congo, Tanzania, Rwanda, South Sudan, Uganda and Burundi.



The group&#8217;s net interest income grew 35% year on year, supported by improved yields and increased lending, KCB said in a statement.



&#8220;We delivered a commendable first half of the year, despite strong headwinds in the operating environment, especially in Kenya,&#8221; KCB Group Chief Executive Paul Russo said.



($1 = 128.5000 Kenyan shillings)



(Reporting by Hereward Holland and Duncan Miriri; Editing by Alexander Winning)

FILE PHOTO: Customers wait to be served in the banking hall at the Kenya Commercial Bank, Kencom branch in Nairobi

Kenyan lender KCB Group reports 70% higher profit in H1

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="929" height="523" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108020956-1723732033233-gettyimages-2163386402-941_04_bsip_016707_024-1.jpeg" alt="" class="wp-image-521657" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108020956-1723732033233-gettyimages-2163386402-941_04_bsip_016707_024-1.jpeg 929w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108020956-1723732033233-gettyimages-2163386402-941_04_bsip_016707_024-1-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108020956-1723732033233-gettyimages-2163386402-941_04_bsip_016707_024-1-820x462.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108020956-1723732033233-gettyimages-2163386402-941_04_bsip_016707_024-1-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108020956-1723732033233-gettyimages-2163386402-941_04_bsip_016707_024-1-768x432.jpeg 768w" sizes="auto, (max-width: 929px) 100vw, 929px" /><figcaption class="wp-element-caption">Colorized transmission electron micrograph of mpox virus particles (red) found within an infected cell (blue), cultured in the laboratory. Bsip | Universal Images Group | Getty Images</figcaption></figure>



An escalating mpox outbreak is causing alarm among some health experts, who warn that the latest strain of the virus could be more fast-spreading and deadly than an early 2022 outbreak.



The World Health Organization last week declared mpox a global public health emergency following the spread of an outbreak in the Democratic Republic of Congo (DRC) to neighboring countries.



Since the new outbreak, cases have been identified in countries where mpox is not endemic, such as Sweden, Pakistan and Thailand — although its unclear which strain has been unidentified in some of these nations.



Mpox is a viral infection which spreads through close contact and causes flu-like symptoms and lesions filled with pus. While usually mild, it can be fatal.



The WHO’s director for Europe, Dr. Hans Kluge, said Tuesday that the outbreak is “not the new Covid” and that it can be stopped with international cooperation.



But health experts have warned of the “many unknowns” surrounding the latest outbreak — and in particular a new subvariant — which could make it harder to contain.



“Clade 1b has recently emerged and there are many unknowns that need to be addressed,” said Trudie Lang, professor of global health research and director of The Global Health Network at the University of Oxford.



“There is emerging evidence of differences in transmission and symptoms; such as more commonly passed person to person and from mothers to their babies in pregnancy,” she said.



There are broadly two types of of mpox, known as clades, with the latest outbreak identified as clade 1. Compared with the 2022 strain, clade 2, the current strain, appears to spread more easily and has a higher fatality rate.



A newly identified clade 1b subvariant has been found to be particularly prevalent among young people and appears to be spreading through sexual networks, Jonas Albarnaz, a research fellow specializing in poxviruses at The Pirbright Institute, said.



However, he noted more data is needed to understand its transmission dynamics and to “inform the control strategies.”



<h2 class="wp-block-heading" id="h-more-vulnerable-countries">More vulnerable countries</h2>



Clade 1 is already known for causing more severe disease in young children, pregnant women and immunocompromised people. That has hastened the outbreak in countries where certain health conditions are more prevalent and those with poorer health-care systems.



“As mpox disease is more severe in immunocompromised individuals, it is also a concern that the current outbreak is taking place in a region where HIV prevalence is relatively high but access to antiretroviral drugs is poor,” said Brian Ferguson, associate professor of immunology at the University of Cambridge.



Ongoing conflicts in parts of Africa — such as the DRC, where a large number of displaced people have relocated to refugee camps — have also worsened sanitation conditions and accelerated the spread.



So far this year, more than 15,000 cases and at least 537 deaths have been reported from the outbreak in the DRC, according to the WHO, with more cases reported elsewhere.



Ferguson said that more cases are likely to be identified in the coming days and weeks given the lack of controls in place to prevent the spread from country to country. He also said that lessons had not been learned from the prior outbreak, which was declared a public health emergency in July 2022 before the designation was removed in May 2023.



“The lack of activity in the intervening period has resulted in what could now become a new global outbreak. There should have been a greater effort to produce and distribute vaccines to the affected areas, but this has not happened,” he said.



<h2 class="wp-block-heading" id="h-vaccines-for-younger-people"><a></a>Vaccines for younger people</h2>



Danish biotech firm Bavarian Nordic, one of the only companies with an approved mpox vaccine, said Tuesday that it would decide this week whether to ramp up production of its jab even before having orders lined up, according to Reuters.



That comes after the company on Friday submitted data to the European Union’s drug regulator to extend the use of its mpox vaccine for adolescents.



CEO Paul Chaplin told CNBC at the time that obtaining approval for 12- to 17-year-olds would be crucial in tackling the outbreak of the latest strain of the virus.



“More than 70% of the cases in Africa currently are in people younger than 18, so it’s going to be critical that our vaccine can be used in this younger age group,” he said.

108020956-1723732033233-gettyimages-2163386402-941_04_bsip_016707_024

Why the latest mpox outbreak is raising alarm among health experts

How A Weakening Dollar Can Help American Consumers

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-820x547.jpg" alt="" class="wp-image-521585" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1556188599-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The headquarters of the National Bank of Rwanda, Rwanda&#8217;s central bank, in the Nyarugenge district of Kigali, Rwanda on Thursday, July 20, 2023. The World Bank cut Rwanda&#8217;s GDP growth estimate to 5.8% from 6.2%, as it expected flooding during April and May to result in slowed economic expansion. Photographer: Bing Guan/Bloomberg via Getty Images</figcaption></figure>



KIGALI, Aug 21 (Reuters)&nbsp;&#8211;&nbsp;Rwanda&#8217;s central bank lowered its key interest rate by 50 basis points to 6.5% on Wednesday, its second cut in a row, saying inflation was projected to remain within its target band at around 5% on average.



The decision follows a 50 basis point cut to the National Bank of Rwanda&#8217;s Central Bank Rate in May.



Annual inflation peaked at 21.7% in November 2022 and has remained under 6% since the start of this year. It dipped to 4.9% in July, well within policymakers&#8217; 2%-8% target range.



&#8220;Inflation is expected to remain within our band and around our medium objective of 5% for this year 2024 and for next year 2025,&#8221; Governor John Rwangombwa told a news conference.



He added the bank&#8217;s monetary policy committee had the same inflation projections as at its May meeting.



On the economy, Rwangombwa said growth had been strong in the second quarter and was projected to remain so in the third quarter, building on the first quarter&#8217;s 9.7% growth.



Among inflation risks, Rwangombwa cited heightened geopolitical tensions affecting commodity prices and adverse weather conditions impacting food prices.



(Reporting by Philbert Girinema; Writing by Hereward Holland; Editing by Alexander Winning and Christina Fincher)

Rwandan Economy as World Bank Cuts Growth Estimate on Floods

Rwanda central bank lowers key rate for second meeting in a row

Africa is the world’s second most populated continent, accounting for just under 18% of the global population.&nbsp; Despite this, the continent is accountable for at least 25% of the world’s disease burden.



With more than its fair share of diseases, the World Economic Forum estimates that the total demand for packaged medicines in Africa is around $18 billion per year.&nbsp; Interestingly, 61% of that is serviced through imported products, with only 36% being locally produced. Of the 36%, 40% of the production capabilities are confined to packaging and labelling with the remaining 40% limited to filling and finishing (Who Owns Whom, 2023).



For Africa to effectively service the medical requirements of its 1.4 billion people, countries on the continent must acknowledge the need to enhance their pharmaceutical and medical production capabilities.&nbsp;



In recognition of this, the OR Tambo International Airport Special Economic Zone (SEZ) has designed, and is in the process of developing, a globally competitive medical manufacturing cluster that will enhance the production and export of medical products from South Africa.&nbsp;



<h2 class="wp-block-heading" id="h-or-tambo-sez-s-bold-ambitions">OR Tambo SEZ’s Bold Ambitions</h2>



Comprised of 265,000m² of developable space, the OR Tambo SEZ Precinct 2 development is well positioned to support the production and export of time-sensitive products such as medicines.



Located on the doorstep of OR Tambo International, the SEZ is an ideal location for the production and export of high-value, light weight products that utilize air freight as a mode of transport.



In support of its competitive value proposition, the OR Tambo SEZ completed industry-specific research that identified different elements essential for the establishment of a globally competitive medical manufacturing cluster.&nbsp; The result of this research is a bold plan that aims to secure continental as well as international buy-in, thereby ensuring that the cluster is well positioned to support the manufacturing of different elements that form part of the broader pharmaceutical and medical product value chain in Africa.



<h2 class="wp-block-heading" id="h-the-competitization-of-the-or-tambo-sez-pharma-and-medical-cluster">The Competitization of the OR Tambo SEZ Pharma and Medical Cluster</h2>



The cluster-based approach is globally acknowledged as an effective approach to enhance economic growth and development.



For it to be competitive, any cluster must pursue and ensure the existence of linkages between different elements that form part of the production process; these include basic inputs, manufacturers, role players that approve the products for consumption and those that move the goods to market. Equally important are the research, development and innovation institutions.



The OR Tambo SEZ’s planned pharma and medical manufacturing precinct will have all the above inclusive of a variety of medical production processes such as pharmaceutical mixing, medical device component manufacturing, sub-assembling, labelling and packaging, warehousing and storage, training, standard testing, patent compliance and regulatory approval institutions.&nbsp;



Through this approach, the SEZ, which already boasts of a competitive location, is destined to become a world class pharma and medical products manufacturing destination.&nbsp;



<h2 class="wp-block-heading" id="h-available-incentives">Available Incentives</h2>



As a designated Special Economic Zone, the OR Tambo SEZ will also provide manufacturers that are looking to set up operations with the opportunity to access incentives that reduce the cost of production; this is particularly key, given that manufacturing costs remain a major impediment in the enhancement of manufacturing in Africa.



Available incentives include duty-free importation of production-related materials and assets as well as VAT exemption on exports.&nbsp;



<h2 class="wp-block-heading" id="h-or-tambo-sez-the-competitive-choice">OR Tambo SEZ: The Competitive Choice</h2>



Underpinned by factors such as a skilled labor force, South Africa has long been a location of choice for multinationals looking at Africa. The country also has an established supply chain to foster the medical manufacturing expansion.



All the above, coupled with Gauteng City-Region’s competitive positioning serving as a gateway to sub-Saharan Africa, make the OR Tambo SEZ an ideal location for the production, export and trade of pharmaceutical and medical products within Africa.



For more information on the pharmaceutical and medical cluster being developed at OR Tambo International Airport SEZ, visit: <a href="http://www.ortambosez.co.za">www.ortambosez.co.za</a>

pexels-chokniti-khongchum-3938022

Establishing A Globally Competitive Pharma and Medical Manufacturing Cluster

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1396" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KLE2XLZI7ZKB7JONPVNEGPZDU4-scaled.jpg" alt="" class="wp-image-521563" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KLE2XLZI7ZKB7JONPVNEGPZDU4-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KLE2XLZI7ZKB7JONPVNEGPZDU4-300x204.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KLE2XLZI7ZKB7JONPVNEGPZDU4-820x559.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KLE2XLZI7ZKB7JONPVNEGPZDU4-132x90.jpg 132w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KLE2XLZI7ZKB7JONPVNEGPZDU4-768x523.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/KLE2XLZI7ZKB7JONPVNEGPZDU4-1536x1047.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">File photo: A shopper looks at items at a grocery store in Johannesburg, South Africa, June 8, 2017. REUTERS/Siphiwe Sibeko/File photo</figcaption></figure>



JOHANNESBURG, Aug 21 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s inflation dropped more than&nbsp;forecastto a three-year low in July, nearing the level the central bank aims for and cementing analysts&#8217; expectations for an interest rate cut&nbsp;next month.



Consumer inflation fell to 4.6% year on year in July from 5.1% in June, statistics agency data showed on Wednesday, whereas analysts polled by Reuters had forecast annual inflation of 4.9% last month.



The South African Reserve Bank likes to see inflation around 4.5%, the midpoint of its 3% to 6% target range, but it has been above that level since mid-2021.



Before the latest inflation print, most economists in a Reuters poll had predicted the SARB would reduce its main interest rate by 25 basis points at its next policy announcement on Sept. 19, and a cut now looks more likely.



&#8220;The SARB has definitely run out of excuses to not cut interest rates&#8230; and might have to consider a bigger cut,&#8221; independent economist Elize Kruger said.



July&#8217;s data &#8220;seals the deal&#8221; on a September rate cut, said David Omojomolo, Africa economist at Capital Economics, adding he thought inflation could fall below 4% by the end of the year.



The central bank had said at its July meeting that it expected inflation to dip below 4.5% over the next few quarters, mainly due to falling food and fuel costs.



July&#8217;s data showed inflation for food and non-alcoholic beverages fell to 4.5% from 4.6% in June, while fuel decreased to 4.5% from 7.6% in June.



Core inflation, which excludes food and fuel, came in at 4.3% in July versus 4.5% in June, Statistics South Africa added.



(Reporting by Tannur Anders and Bhargav Acharya; Editing by Alexander Winning, Alison Williams and Toby Chopra)

A shopper looks at items at a grocery store in Johannesburg, South Africa

South Africa inflation drop makes September rate cut more likely

Pro video gaming: How eSports is taking off with big dollars behind it

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg" alt="" class="wp-image-400641" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/1x-1-2-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A collection of mixed denomination South African rand coins sit in an arranged photo in Johannesburg, South Africa, on Thursday, June 22, 2017. South Africas inflation rate rose for the first time this year in May after food-price growth quickened from the slowest pace since December 2015. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



JOHANNESBURG, Aug 21 (Reuters)&nbsp;&#8211;&nbsp;The South African rand was weaker in early trade on Wednesday, ahead of a local inflation print which could give hints on the future interest rate path of Africa&#8217;s most industrialised economy.



At 0642 GMT, the rand traded at 17.83 against the dollar, about 0.2% softer than Tuesday&#8217;s close.



&#8220;Today is all about local CPI (inflation) later this morning and the Fed (U.S. Federal Reserve) minutes this evening,&#8221; said Rand Merchant Bank analysts in a research note.



Investor focus will be on South Africa&#8217;s July inflation print  set to be released at 0800 GMT for clues on the country&#8217;s future interest-rate path.



Inflation in June was at 5.1% year on year and within the central bank&#8217;s target range of 3% to 6%. The central bank likes to see inflation close to 4.5%, the midpoint of its target range.



Economists polled by Reuters expect South Africa&#8217;s central bank to cut interest rates for the first time in more than two years on Sept. 19.



&#8220;Ahead of CPI later this morning, we look for some consolidation after the big moves of late,&#8221; Rand Merchant Bank analysts added, referring to the rand.



Global markets will look to minutes of the Fed&#8217;s latest meeting for clarity on the rate-cut path of the world&#8217;s biggest economy.



South Africa&#8217;s benchmark 2030 government bond was slightly weaker in early deals, as the yield gained 1 basis point to 9.295%.



(Reporting by Tannur Anders; Editing by Rashmi Aich)

South African Economy As Inflation Rate Rises For First Time In 2017

South African rand softer ahead of local inflation print

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



Aug 21 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



Zimbabwe&#8217;s finance minister, Mthuli Ncube, will speak about fiscal policy at a conference in Harare hosted by the Zimbabwe Economic Society.



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



Asian shares slipped on Wednesday as a stellar rebound in world stocks paused for breath, while bond yields and the dollar fell ahead of U.S. economic data and speeches from policymakers that are expected to make the case for interest rate cuts.



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



Oil prices slipped on Wednesday on estimates showing swelling U.S. crude inventories and expectations that tensions in the Middle East were easing following a tour of the region by mediators.



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



The South African rand weakened on Tuesday ahead of local inflation data, as markets awaited clues on both domestic and U.S. interest-rate paths this week.



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



Kenya&#8217;s shilling was little changed against the U.S. dollar on Tuesday in a quiet session, traders said.



<h2 class="wp-block-heading" id="h-mpox-africa">MPOX AFRICA</h2>



Justine Munguiko could not recall the name of the disease she had been warned about. She knew only that her baby Fidele had painful sores similar to those suffered by other children at the displacement camp near the eastern Congolese city of Goma.



<h2 class="wp-block-heading" id="h-kenya-tax">KENYA TAX</h2>



Kenya&#8217;s top court on Tuesday suspended a lower court&#8217;s ruling that the 2023 finance law was unconstitutional, saying it was important to preserve stability in the budget until the merits of the government&#8217;s appeal are heard next month.



((Compiled by Nairobi Newsroom))

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South African Markets – Factors to watch on Aug 22

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Treasury yields rally as Federal Reserve signals readiness for September rate cut

In Kenya, drought-weary farmers reap rewards of early warnings

Kenyan lender KCB Group reports 70% higher profit in H1

Why the latest mpox outbreak is raising alarm among health experts

How A Weakening Dollar Can Help American Consumers

Rwanda central bank lowers key rate for second meeting in a row

Establishing A Globally Competitive Pharma and Medical Manufacturing Cluster

South Africa inflation drop makes September rate cut more likely

Pro video gaming: How eSports is taking off with big dollars behind it

South African rand softer ahead of local inflation print

African Markets – Factors to watch on Aug 21

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Miner Sibanye gets 500 mln euros financing to complete Finland lithium project

The advancement of women in technology: Overcoming under-representation and igniting gender diversity

South African rand softens, focus on Fed rate path

African Markets – Factors to watch on Aug 22

South African Markets – Factors to watch on Aug 22

How hydrogen could change the future of space exploration

Treasury yields rally as Federal Reserve signals readiness for September rate cut

In Kenya, drought-weary farmers reap rewards of early warnings

Kenyan lender KCB Group reports 70% higher profit in H1

Why the latest mpox outbreak is raising alarm among health experts

How A Weakening Dollar Can Help American Consumers

Rwanda central bank lowers key rate for second meeting in a row

Establishing A Globally Competitive Pharma and Medical Manufacturing Cluster

South Africa inflation drop makes September rate cut more likely

Pro video gaming: How eSports is taking off with big dollars behind it

South African rand softer ahead of local inflation print

African Markets – Factors to watch on Aug 21

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