<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 21 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, equity and currency market moves may affect South African markets on Wednesday.



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



Statistics South Africa will publish July consumer price inflation data.



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



On the stock market, the Top-40 index was little-changed.



<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-wall-street">WALL STREET</h2>



U.S. stocks closed slightly lower on Tuesday, breaking their recent winning streak amid few market-moving catalysts ahead of the Jackson Hole Economic Symposium, set to get under way on Thursday.



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



Gold prices were trading below record high levels on Wednesday after a rally fuelled by Western fund inflows and U.S. rate-cut optimism, as investors braced for minutes of the Federal Reserve&#8217;s latest meeting for clarity on the depth of cuts. 



&#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; Agricultural land at risk from property and mining, Steenhuisen says



&#8211; Court dismisses Nersa and Salga&#8217;s appeal for electricity hikes



(Compiled by Tannur Anders)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Aug 21

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="554" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V5ONZXDNEFJHRJIKZYSNEMS244-820x554.jpg" alt="" class="wp-image-521524" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V5ONZXDNEFJHRJIKZYSNEMS244-820x554.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V5ONZXDNEFJHRJIKZYSNEMS244-300x203.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V5ONZXDNEFJHRJIKZYSNEMS244-133x90.jpg 133w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V5ONZXDNEFJHRJIKZYSNEMS244-768x519.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V5ONZXDNEFJHRJIKZYSNEMS244-1536x1037.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/V5ONZXDNEFJHRJIKZYSNEMS244-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A logo of Sibanye Stillwater is seen at a mine in Marikana, outside Rustenburg, northwest of Johannesburg, South Africa, March 14, 2024. REUTERS/Siphiwe Sibeko/File photo</figcaption></figure>



Aug 21 (Reuters) &#8211; South Africa&#8217;s Sibanye Stillwater has finalised a 1.8 billion rand ($101 million) gold prepayment deal to raise cash to help repay loans after a slump in platinum group metal (PGM) prices hurt its income, the diversified miner said on Wednesday.



The group had previously said it was seeking to raise more than $500 million through metals prepayment deals to shore up its balance sheet after earnings plunged due to the PGM price collapse.



Metals prepayment arrangements allow miners to sell their future production in return for an upfront cash payment.



The metals producer&#8217;s profits tumbled $2 billion last year due to lower prices and after it wrote down $2.6 billion in the carrying value of its U.S. palladium mines, a nickel operation in France and a gold mine in South Africa.



Sibanye Stillwater CEO Neal Froneman said in a statement on Wednesday the prepayment deal was a &#8220;proactive, strategic financing alternative that improves the group&#8217;s liquidity and balance sheet&#8221;.



Sibanye said it would deliver 1,497 kg of gold in equal monthly tranches from October 2024 to November 2026 in return for the prepaid cash. The cash will help to repay the group&#8217;s loans, it said.



The miner said it had also reached an agreement to refinance and increase its 5.5 billion rand revolving credit facility with South African lenders, which was due to mature in November 2024.



Refinancing allows a borrower to replace an existing debt obligation with a new one on more favourable terms.



The refinanced 6 billion rand facility will now mature in August 2027, with an option to extend it by a further two years, Sibanye said.



($1 = 17.8542 rand)



(Reporting by Nelson Banya; Editing by Emelia Sithole-Matarise)

A logo of Sibanye Stillwater is seen at a mine in Marikana

Sibanye finalises $101 mln gold prepayment deal, refinances credit facility

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108023023-1724177843627-Shein_Temu-820x462.jpg" alt="" class="wp-image-521505" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108023023-1724177843627-Shein_Temu-820x462.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108023023-1724177843627-Shein_Temu-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108023023-1724177843627-Shein_Temu-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108023023-1724177843627-Shein_Temu-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108023023-1724177843627-Shein_Temu.jpg 929w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Shein and Temu. Yuki Iwamura | Bloomberg | Stefani Reynolds | AFP | Getty Images</figcaption></figure>



Chinese-linked fast-fashion giant Shein is suing rival Temu, alleging the retailer stole its designs and built an empire using counterfeiting, intellectual property infringement and fraud. 



The suit, filed Monday in Washington, D.C., federal court, comes as Shein itself fends off similar allegations from a wide variety of brands and independent artists, including Levi Strauss and H&amp;M. 



In its complaint, Shein alleges that Temu, owned by PDD Holdings, is “masquerading” as a legitimate online marketplace because it encourages its sellers to steal other brands’ designs and then prevents them from removing products from the platform, even after they have admitted to infringement.



“Temu draws U.S. consumers into downloading and using its mobile application with promises of extremely low pricing. But Temu is not profiting from the sale of these products, which are priced so low that Temu must subsidize each sale, losing money on every transaction,” the complaint said.&nbsp;



“Only by encouraging its sellers to infringe the intellectual property rights of others and sell counterfeit or sub-standard goods can Temu hope to minimize the massive losses it is subsidizing,” the lawsuit added.



The dueling e-tailers have taken the retail industry by storm with their ultra low-priced products and their ability to respond to trends far faster than their legacy competitors. Along the way, the two have racked up a mountain of criticism related to their labor practices, their connections to the Chinese government and their alleged use of other brands’ designs. 



As the two jockey for market share, they have taken to the courts to accuse each other of a series of scandalous allegations. Last year, Temu sued Shein over copyright concerns and allegations that it uses “mafia-style intimidation of suppliers” to bully them into exclusivity agreements. 



In Shein’s complaint, the company accused Temu of “brazen” illicit behavior. It said at least one of Temu’s employees stole “valuable trade secrets” that identified best-selling Shein products, along with internal pricing information, to help it in its efforts to compete.&nbsp;



“Armed with this stolen information, Temu then directed its sellers to copy those and other best-selling Shein products and sell knock-off versions on Temu’s website and mobile application,” the complaint said.&nbsp;



“Temu is no garden-variety infringer,” the suit said. “In order to advertise the counterfeit versions of Shein products, Temu has reproduced virtually identical copyrighted images of Shein products and used them, or instructed sellers to use them, as promotional images on the Temu website and mobile application.”



The company goes as far as to say that Temu has falsely pretended to be Shein on social media site X in an effort to “misdirect customers away from the Shein platform to the Temu platform.”&nbsp;



The complaint includes a screenshot of a Temu-sponsored Google ad that shows Shein in the headline, but Temu as the web address.&nbsp;



“To further deceive consumers, Temu has instructed its paid social media influencers to falsely claim that Temu products which are often counterfeits of Shein products are cheaper and of higher quality than genuine Shein goods,” the complaint said. “Temu has gone to great lengths to imitate Shein, including by poaching resources, employees, and suppliers from Shein.”&nbsp;



Shein’s 80-page complaint includes more than a dozen examples of clothes and designs that Temu allegedly ripped off.&nbsp;



It has asked the court to rule in its favor and enter an order that would prohibit Temu from using Shein’s confidential information, among other requests.&nbsp;



Temu did not immediately respond to CNBC’s request for comment.

108023023-1724177843627-Shein_Temu

Shein sues Temu over copyright infringement, alleges rival loses money on every sale

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="576" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/OHD5J7KDHJJKBG6Q7MD3YOK36E-820x576.jpg" alt="" class="wp-image-425778" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/06/OHD5J7KDHJJKBG6Q7MD3YOK36E-820x576.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/OHD5J7KDHJJKBG6Q7MD3YOK36E-300x211.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/OHD5J7KDHJJKBG6Q7MD3YOK36E-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/OHD5J7KDHJJKBG6Q7MD3YOK36E-768x540.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/OHD5J7KDHJJKBG6Q7MD3YOK36E-1536x1079.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/06/OHD5J7KDHJJKBG6Q7MD3YOK36E-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Nigeria&#8217;s President Bola Tinubu waves to a crowd as he takes the traditional ride on top of a ceremonial vehicle, after his swearing-in ceremony in Abuja, Nigeria May 29, 2023. REUTERS/Temilade Adelaja/File Photo</figcaption></figure>



ABUJA, Aug 20 (Reuters)&nbsp;&#8211;&nbsp;Nigeria is on track to meet a tax revenue target set by the Federal Inland Revenue Service and is pushing for a legislative overhaul to modernise tax collection, including regulating cryptocurrencies, the chief of the service said on Tuesday.



Zacch Adedeji said in a statement that a 19.4 trillion naira ($12.5 billion) revenue target set for 2024 is within reach.



&#8220;We are in the third quarter of the year and with the figures we are seeing so far, I can say we are on the path of achieving our target,&#8221; Adedeji said following talks with a joint committee of Nigeria&#8217;s National Assembly on Finance.



In office since May last year, Nigeria&#8217;s President Bola Tinubu has embarked on the country&#8217;s boldest reforms in decades, including the partial removal of costly petrol and electricity subsidies, and has proposed changes to the country&#8217;s tax system as part of a push to widen the tax base.



The West African country is also preparing an executive bill to overhaul revenue collection and introduce regulations for cryptocurrencies as it aims to simplify tax laws and harmonise collection, Adededi said.



The proposed legislation, if passed, could reshape Nigeria&#8217;s economic landscape, bringing its tax system in line with global standards and potentially boosting much-needed revenue from the rapidly growing cryptocurrency sector.



Adedeji said the proposal seeks to simplify tax laws, harmonise revenue collection and replace outdated tax laws with measures more closely fitting current economic conditions.



&#8220;We will bring a bill for a law to overhaul the whole process of revenue administration in Nigeria,&#8221; Adedeji said. &#8220;Part of what we intend to achieve with this is to harmonise revenue collection, making tax laws very simple to understand and to be in tune with our current realities.



&#8220;We cannot run away from the cryptocurrency ecosystem. As it stands in Nigeria today, there is no law that regulates cryptocurrency operations. We need a law that regulates that area of our economy.&#8221;



($1 = 1,550.0000 naira)



(Writing by Elisha Bala-Gbogbo; Editing by David Holmes)

FILE PHOTO: Nigeria’s President Bola Tinubu waves to a crowd as he takes the traditional ride on top of a ceremonial vehicle after his swearing-in ceremony in Abuja

Nigeria expects to meet $12.5 billion revenue target

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/11/GettyImages-1243616593-820x547.jpg" alt="" class="wp-image-421165" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/11/GettyImages-1243616593-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2022/11/GettyImages-1243616593-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/11/GettyImages-1243616593-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2022/11/GettyImages-1243616593-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2022/11/GettyImages-1243616593-1536x1025.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2022/11/GettyImages-1243616593-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The locomotive of a Transnet SOC Ltd. freight train transports wagons of coal from the Mafube open-cast coal mine, operated by Exxaro Resources Ltd. and Thungela Resources Ltd., towards Richard&#8217;s Bay coal terminal, in Mpumalanga, South Africa on Thursday, Sept. 29, 2022. South Africa relies on coal to generate more than 80% of its electricity, and has been subjected to intermittent outages since 2008 because state utility Eskom Holdings SOC Ltd. can&#8217;t meet demand from its old and poorly maintained plants. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



Aug 20 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s Transnet is seeking debt relief from the government as it seeks to repair its balance sheet and restore freight rail and port capacity, the state-owned logistics firm&#8217;s chairman said on Tuesday.



Transnet is saddled with 130 billion rand ($7.30 billion) in debt and has struggled to provide adequate freight rail and port services due to equipment shortages and maintenance backlogs after years of under-investment.



Last December, South Africa&#8217;s government said it had handed Transnet a 47 billion rand guarantee facility to help the company meet &#8220;immediate liquidity matters such as settling maturity debt&#8221;.



Transnet board Chairman Andile Sangqu told journalists that the company&#8217;s debt repayments were averaging just over 1 billion rand monthly.



Part of the debt had arisen from &#8220;state capture&#8221;, Sangqu said, referencing a graft scandal which rocked South Africa&#8217;s government between 2010 and 2018 under former President Jacob Zuma and cost Transnet and other state enterprises billions of rand in corrupt procurement deals.



&#8220;We will require the assistance of the shareholder to give us some form of debt relief,&#8221; Sangqu said.



He said efforts to restore Transnet&#8217;s freight volumes under a recovery plan announced in October 2023 were being undermined by debt servicing.



&#8220;As we begin to make this increase in volumes, as we begin to generate new operational cash flows, they all get wiped out by the debt service costs,&#8221; he said.



Transnet&#8217;s freight volumes have declined to 152 million metric tons in financial year 2023/24 from 226 million tons in 2017/18.



$1 = 17.8122 rand)



(Reporting by Felix Njini; Writing by Nelson Banya; Editing by Jonathan Oatis)

Coal Freight Transportation at Mafube Collier

South Africa’s Transnet seeks debt relief from government

Why Airlines Like American Are Scrambling To Make Engines Last Longer

Saudi Arabia’s sovereign wealth fund assets reach $925 billion

<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/WNOCRFRNP5PYXB42R3OBGXFHQA-1-820x547.jpg" alt="" class="wp-image-521202" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/WNOCRFRNP5PYXB42R3OBGXFHQA-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/WNOCRFRNP5PYXB42R3OBGXFHQA-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/WNOCRFRNP5PYXB42R3OBGXFHQA-1-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/WNOCRFRNP5PYXB42R3OBGXFHQA-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/WNOCRFRNP5PYXB42R3OBGXFHQA-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/WNOCRFRNP5PYXB42R3OBGXFHQA-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Qatar Airways B777 aircraft arrives at the Cape Town International Airport, in Cape Town, South Africa, June 28, 2022. REUTERS/Shelley Christians/File Photo</figcaption></figure>



DOHA, Aug 20 (Reuters)&nbsp;&#8211;&nbsp;Qatar Airways will take a 25% stake in South Africa-based regional carrier Airlink as both airlines seek to boost services and passenger numbers across Africa, they said on Tuesday.



Qatar Airways CEO Badr Mohammed Al Meer, speaking alongside Airlink&#8217;s CEO Rodger Foster in Doha, told reporters the investment would boost Qatar Airways&#8217; access to passengers in regional cities in Africa.



Foster said it would allow privately owned Airlink to expand in Africa and eventually to operate larger aircraft on one or two routes. It would not expand beyond Africa, he said.



The executives did not disclose the value of the investment that was officially agreed on Tuesday, and Qatar Airways&#8217; Al Meer said it would require regulatory approval.



With a 25% equity stake in Airlink, Qatar Airways will take the maximum foreign ownership share that South African regulators allow for airlines, Foster said.



Airlink is currently owned by Foster&#8217;s family, South Africa&#8217;s Webb family and institutional investors Coronation Global and Sishen Iron Ore Company Community Development Trust, according to Foster.



Qatar Airways will gain two seats on Airlink&#8217;s 14 member board and will have 25% shareholder voting rights, Foster told Reuters.



State-owned Qatar Airways holds stakes in British Airways-owner International Airlines Group, Latam Airlines, Cathay Pacific Airways, and China Southern Airlines.



It has also been in talks to acquire a minority stake in Rwanda&#8217;s RwandAir and in 2019 agreed with the country&#8217;s government to take a majority stake in a new international airport in Rwanda.



Airlink, which flies to more than 45 destinations in 15 African countries, and RwandAir both operate on several of the same routes.



&#8220;It makes sense that as Qatar Airways gets more involved in RwandAir, we start rationalizing the duplicated activity,&#8221; Foster said, adding that though discussions have not started yet, it could mean an interline or code share agreement with the airline.



Airlink already has a code share agreement with Qatar Airways, which allows the airlines to sell tickets on flights operated by each other.



The African carrier has a similar agreement with Dubai&#8217;s state-owned Emirates, a competitor of Qatar Airways, which Foster said would continue.



(Reporting by Andrew Mills; Writing by Alexander Cornwell; Editing by Mark Heinrich, Sharon Singleton, Susan Fenton and Shounak Dasgupta)

Qatar Airways B777 aircraft arrives at the Cape Town International Airport

Qatar Airways says it will take 25% stake in South Africa’s Airlink

<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/NGZ3KIXADZONPII7S6ZTTRQTUQ-820x547.jpg" alt="" class="wp-image-521199" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/NGZ3KIXADZONPII7S6ZTTRQTUQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/NGZ3KIXADZONPII7S6ZTTRQTUQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/NGZ3KIXADZONPII7S6ZTTRQTUQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/NGZ3KIXADZONPII7S6ZTTRQTUQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/NGZ3KIXADZONPII7S6ZTTRQTUQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/NGZ3KIXADZONPII7S6ZTTRQTUQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: President Nana Addo Dankwa Akufo-Addo of Ghana speaks during a press conference during the Summit on Peace in Ukraine, in Stansstad, Switzerland, June 16, 2024. ALESSANDRO DELLA VALLE/Pool via REUTERS/File Photo</figcaption></figure>



ACCRA, Aug 20 (Reuters)&nbsp;&#8211;&nbsp;Ghanaian President Nana Akufo-Addo has broken ground on the construction of a 300,000 barrel-per-day oil refinery that the government hopes will turn the West African country into the region&#8217;s petroleum hub, but critics say the project is flawed.



Ghana, the world&#8217;s second biggest cocoa producer, became an oil producer in 2010. Output is currently around 132,000 bpd of crude oil and about 325 million standard cubic feet per day of natural gas.



&#8220;The project promises to be a cornerstone of our nation&#8217;s development,&#8221; Akufo-Addo said late on Monday at the site of the project in the southwestern city of Jomoro, which will also include petrochemical plants.



Phase one of the project, estimated to cost $12 billion, will be funded and constructed by a consortium of Touchstone Capital Group Holdings, UIC Energy Ghana, China Wuhan Engineering Co., and China Construction Third Engineering Bureau Co, he said on state-owned Ghana Television (GTV).



West Africa consumes about 800,000 bpd, according to the African Refiners and Distributors Association, of which almost 90% is imported.



The petroleum hub aims to supply enough refined and by-products to supply the region by 2036, according to an agreement signed in June 2018.



Not everyone is convinced by the plan, however.



Bright Simons, a vice president at Accra-based think tank, IMANI Africa, said the consortium behind the project &#8220;is not primed for investment (and) the project has no bankable business plan.&#8221;



&#8220;Our position is that this is a speculative attempt to grab a landbank for cheap,&#8221; he said.



Some residents of the hub&#8217;s proposed 20,000-acre site have protested the plans, demanding the project&#8217;s footprint be reduced to 5,000 acres.



Oliver Barker-Vormawor, a senior partner of the law firm representing some affected farmer cooperatives, said his clients would not stand down.



&#8220;The abrasive manner that the government is proceeding discounts valid concerns around the social and environmental impact of the project, the livelihoods at risk by the displacement of farmers and the unsettled questions of ownership and community land rights.&#8221;



The government has so far rejected these concerns, citing petitions from other residents in support of the project.



(Editing by Alessandra Prentice and Conor Humphries)

FILE PHOTO: Summit on Peace in Ukraine, in Switzerland

Ghana begins construction of $12 bln petroleum hub

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="524" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/B2QSYQV4JRNZPJWD4IQ3X2TJ3I-820x524.jpg" alt="" class="wp-image-521181" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/B2QSYQV4JRNZPJWD4IQ3X2TJ3I-820x524.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/B2QSYQV4JRNZPJWD4IQ3X2TJ3I-300x192.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/B2QSYQV4JRNZPJWD4IQ3X2TJ3I-141x90.jpg 141w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/B2QSYQV4JRNZPJWD4IQ3X2TJ3I-768x491.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/B2QSYQV4JRNZPJWD4IQ3X2TJ3I-1536x982.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/B2QSYQV4JRNZPJWD4IQ3X2TJ3I-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A fountain with a statue is seen outside the Supreme Court in Nairobi, Kenya, August 20, 2021. REUTERS/Monicah Mwangi/File Photo</figcaption></figure>



NAIROBI, Aug 20 (Reuters)&nbsp;&#8211;&nbsp;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.



The finance bills, presented to parliament at the start of every financial year, are the main vehicle for the government to set out its revenue-raising measures including tax hikes.



The Court of Appeal&#8217;s judgment late last month that last year&#8217;s Finance Act was unconstitutional was a blow to the government of President William Ruto, who withdrew this year&#8217;s finance bill in June in the face of youth-led protests, the biggest challenge of his two-year presidency.



Ruto has been caught between the competing demands of Kenya&#8217;s hard-pressed citizens and of lenders such as the International Monetary Fund.



He has argued that tax increases are necessary to help fund development programmes and pay off a heavy public debt load.



&#8220;We find that public interest tilts in favour of granting conservatory and stay orders to &#8230; maintain stability in the budget and appropriation process pending the determination of this appeal,&#8221; Kenya&#8217;s Supreme Court said in its ruling.



The Supreme Court will hold hearings on Sept. 10 and 11 on whether the 2023 law is constitutional.



The government, which has been relying on the 2023 finance law to continue collecting taxes after Ruto withdrew this year&#8217;s bill, did not immediately comment.



The 2023 version was challenged in court following a round of violent street protests last year led by opposition parties.



Ruto&#8217;s government used the 2023 law to double the value-added tax on fuel, introduce a housing tax and raise the top personal income tax rate.



(Reporting by Hereward Holland; Editing by Alexander Winning and Conor Humphries)

Kenyan court to rule on appeal against halting of constitutional changes in Nairobi

Kenya’s top court suspends judgment nullifying 2023 finance law

How the ultra wealthy travel in Singapore

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1248" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-scaled.jpg" alt="" class="wp-image-495627" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-300x183.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-820x500.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-148x90.jpg 148w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-768x468.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/06/J32EXN6PQFNGNFCW2LXA3JCAGE-1536x936.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: South African Rand coins are seen in this illustration picture taken October 28, 2020. REUTERS/Mike Hutchings/Illustration/File Photo</figcaption></figure>



JOHANNESBURG, Aug 20 (Reuters)&nbsp;&#8211;&nbsp;The South African rand gave back some gains in early trade on Tuesday, ahead of the country&#8217;s leading indicator data release, and as markets await clues on both local and U.S. interest rate paths this week.



At 0615 GMT, the rand traded at 17.73 against the dollar, about 0.2% softer than its previous close.



&#8220;The rand&#8217;s strong run continued yesterday as it closed at the day&#8217;s best level&#8230; on the back of the weaker dollar and positive risk sentiment,&#8221; Andre Cilliers, currency strategist at TreasuryONE, said.



&#8220;The local currency has given back some of the gains this morning in line with slightly softer EM (emerging market) currencies,&#8221; Cilliers added.



Local investors will on Tuesday focus on South Africa&#8217;s leading indicator for June, which collects data on vehicle sales, business confidence, money supply and other factors.



On Wednesday, focus will be on South Africa&#8217;s July inflation print for hints on the future interest rate path of Africa&#8217;s most industrialised economy.



Economists polled by Reuters expect the central bank to cut interest rates for the first time in more than two years on Sept. 19.



Globally, markets will look toward U.S. Federal Reserve minutes and Chair Jerome Powell&#8217;s speech at the Jackson Hole symposium this week for indications on how much the Fed will cut interest rates this year.



Like other risk-sensitive currencies, the rand often takes cues from global drivers including U.S. monetary policy alongside local data points.



South Africa&#8217;s benchmark 2030 government bond was little changed in early deals, as the yield gained 0.5 basis point to 9.28%.



(Reporting by Tannur Anders; Editing by Andrew Heavens)

FILE PHOTO: South African Rand coins are seen in this illustration picture

South African rand softer ahead of leading indicator

<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 20 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcement, equity and currency market moves may affect South African markets on Tuesday.



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



The South African Reserve Bank will publish the country&#8217;s leading indicator for June.



South Africa&#8217;s government will hold its weekly auction of long-term bonds.



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



Petrochemical firm Sasol reported a 66% fall in full-year profit.



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



The South African rand strengthened to a nearly 13-month high on Monday, ahead of the release of domestic inflation data on Wednesday which may provide hints on the country&#8217;s future interest rate path.



On the stock market, the Top-40 index closed up 1.27%.



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



Asian stocks scaled a one-month peak on Tuesday, tracking a Wall Street rally driven by expectations that the Federal Reserve could offer further hints of imminent rate cuts later this week.



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



U.S. stocks advanced on Monday, building on their largest weekly percentage gain of the year as investors focused on the Democratic National Convention and the upcoming Jackson Hole Economic Symposium.



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



Gold held steady near its record high on Tuesday as investors awaited U.S. Federal Reserve minutes and Chair Jerome Powell&#8217;s speech for indications on how much the central bank will cut rates this year. 



&#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; Top US bank expects SA’s GDP to grow 2% next year



&#8211; SA’s ports do better, but agricultural exports slow



(Compiled by Tannur Anders)

South African Markets – Factors to watch on Aug 20

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1536" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RMJGT4356RJNRP6Y7D2U5VI4BI-scaled.jpg" alt="" class="wp-image-521129" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RMJGT4356RJNRP6Y7D2U5VI4BI-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RMJGT4356RJNRP6Y7D2U5VI4BI-300x225.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RMJGT4356RJNRP6Y7D2U5VI4BI-820x615.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RMJGT4356RJNRP6Y7D2U5VI4BI-120x90.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RMJGT4356RJNRP6Y7D2U5VI4BI-768x576.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/RMJGT4356RJNRP6Y7D2U5VI4BI-1536x1152.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: Ousmane Sonko speaks after he was appointed prime minister by Senegal&#8217;s newly-elected President Bassirou Diomaye Faye, in Dakar, Senegal April 2, 2024. REUTERS/Abdou Karim Ndoye/File Photo</figcaption></figure>



DAKAR, Aug 19 (Reuters) &#8211; Senegal has set up a commission of legal, tax, and energy sector experts to review its oil and gas contracts and work to rebalance them in the national interest, Prime Minister Ousmane Sonko said on national television on Monday.



President Bassirou Diomaye Faye, who defeated the ruling coalition candidate in a landslide victory in March, ordered an audit of the oil, gas and mining sectors after coming into office, and vowed to renegotiate the terms of contracts with foreign operators in the country if needed.



Authorities have not shared details on the audit or updates on any renegotiation plans.



Sonko said they were committed to their promise to the Senegalese people &#8220;to come back to these various agreements to re-examine them and work to rebalance them, obviously in the national interest.&#8221;



He said the commission will have sufficient resources to look into the contracts and hire experts from abroad if necessary. He did not say how long the review would take.



The move comes soon after Senegal became an oil producer for the first time. Australia&#8217;s Woodside Energy announced in June that its Sangomar oil and gas field had produced its first oil.



Gas production is also due to begin by the end of the year at the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) project, operated by BP.



(Writing by Alessandra Prentice; Editing by Sandra Maler)

FILE PHOTO: Senegal President Faye appoints ally Sonko as prime minister

Senegal sets up commission to review oil and gas contracts

<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/E5AMVBEBFFOU5JTBQTY7SKQO4Q-820x547.jpg" alt="" class="wp-image-521126" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/E5AMVBEBFFOU5JTBQTY7SKQO4Q-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/E5AMVBEBFFOU5JTBQTY7SKQO4Q-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/E5AMVBEBFFOU5JTBQTY7SKQO4Q-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/E5AMVBEBFFOU5JTBQTY7SKQO4Q-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/E5AMVBEBFFOU5JTBQTY7SKQO4Q-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/E5AMVBEBFFOU5JTBQTY7SKQO4Q-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: Cooling towers of South African petro-chemical company Sasol&#8217;s synthetic fuel plant in Secunda, north of Johannesburg, are seen in this picture taken March 1,2016.REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



Aug 20 (Reuters) &#8211; South African petrochemicals company Sasol reported a 66% fall in full-year profit on Tuesday, mainly due to weaker chemical prices, and skipped a final dividend.



Headline earnings, which strip out one-off items and are the main profit measure used by South African companies, were 11.5 billion rand ($648.47 million) in the year to June 30, compared with 33.8 billion rand a year earlier.



Sasol, which produces liquid fuels and chemicals from coal, said its income was hit as depressed chemicals prices exerted pressure on margins. Turnover fell 5% to 275.1 billion rand.



The company wrote down $3 billion in the carrying value of its chemicals and fuel assets mainly due the softer market pricing and outlook, resulting in a basic loss per share of 69.94 rand, compared to 14 rand basic earnings per share the previous year.



The biggest impairments, totalling nearly $2.6 billion, were recorded at its American chemicals unit.



Sasol did not declare a final dividend, leaving the interim 2 rand per share declared at half-year as the full-year payout for the 2024 financial year.



The company said it had changed its dividend policy, which was previously based on 2.5-2.8 times core headline earnings per share, to 30% of free cash flow generated, provided that net debt is below $4 billion on a sustained basis.



&#8220;The disconnect between headline earnings and cashflow generation, as well as elevated leverage levels, has necessitated a revision to the company&#8217;s dividend policy,&#8221; Sasol said in a statement.



Net debt for 2024 stood at $4.1 billion, just above the dividend trigger level.



($1 = 17.7341 rand)



(Reporting by Nelson Banya; Editing by Eileen Soreng, Kirsten Donovan)

FILE PHOTO: Cooling towers of South African petro-chemical company Sasol’s synthetic fuel plant in Secunda

Sasol profit plunges 66% on weak chemical prices, skips final dividend

<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-1243387410-820x547.jpg" alt="" class="wp-image-521108" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1243387410-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1243387410-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1243387410-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1243387410-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1243387410-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1243387410-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Medical personnel prepares a syringe with the vaccine against smallpox and monkeypox at Checkpoint Bln in Berlin, Germany on September 16, 2022. (Photo by Emmanuele Contini/NurPhoto via Getty Images)</figcaption></figure>



Aug 19 (Reuters) &#8211; Emergent BioSolutions said on Monday it would donate 50,000 doses of its smallpox vaccine to the Democratic Republic of the Congo and other impacted countries of Burundi, Kenya, Rwanda and Uganda to address the current mpox outbreak.



The World Health Organization last week declared mpox a global public health emergency for the second time in two years as a new variant of the virus, known as clade Ib, spread rapidly in Africa. At least one person in Sweden has been confirmed with the infection, marking the first time the new variant has been seen outside of Africa.



Emergent&#8217;s ACAM2000 vaccine, approved for smallpox, has been used as an mpox shot but the U.S. Food and Drug Administration is yet to approve its application for use against the virus.



According to the U.S. Centers for Disease Control and Prevention, ACAM2000, a live, replicating virus vaccine, has more known side effects and risks than Danish biotech Bavarian Nordic A/S&#8217;s BAVA.CO Jynneos vaccine, which is approved in the U.S. for both smallpox and mpox.



ACAM2000 is known to cause myocarditis/pericarditis &#8211; swelling in or around the heart muscle &#8211; in 1 in 175 new ACAM2000 vaccine recipients, according to the FDA.



Instead of an injection, the shot is given via a series of small pokes on the skin using a two-pronged needle. The injection site forms a scab, which takes 2-4 weeks to heal. Until the scab falls off, it could spread live virus to other parts of the body or people.



ACAM2000 is not recommended for people with compromised immune systems, such as HIV.



(Reporting by Christy Santhosh in Bengaluru and Julie Steenhuysen in Chicago; Editing by Shilpi Majumdar and Stephen Coates)

Vaccine Against Monkeypox In Berlin

Emergent to donate 50,000 vaccine doses to address mpox outbreak in Africa

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1419" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/03/F6D7PI4SJVK4DG7HSVQSJ637XA-1-scaled.jpg" alt="" class="wp-image-469791" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/03/F6D7PI4SJVK4DG7HSVQSJ637XA-1-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/F6D7PI4SJVK4DG7HSVQSJ637XA-1-300x208.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/F6D7PI4SJVK4DG7HSVQSJ637XA-1-820x568.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/F6D7PI4SJVK4DG7HSVQSJ637XA-1-130x90.jpg 130w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/F6D7PI4SJVK4DG7HSVQSJ637XA-1-768x532.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/03/F6D7PI4SJVK4DG7HSVQSJ637XA-1-1536x1065.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: A man walks past an MTN logo outside the company&#8217;s headquarters in Johannesburg, South Africa, March 13, 2023. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



JOHANNESBURG, Aug 19 (Reuters) &#8211; MTN Group swung to a half-year loss on Monday as Africa&#8217;s biggest telecom operator grappled with the devaluation of the Nigerian naira and operational challenges in Sudan.



The company reported a loss before tax of 9 billion rand in the six-month period ended June 30, compared with a restated profit of 8.3 billion rand a year earlier.



&#8220;The further devaluation in the naira against the U.S. dollar&#8230; and the ongoing conflict in Sudan had the most significant impact on reported results,&#8221; CEO Ralph Mupita said.



MTN Group, which has 288 million customers across 18 markets in Africa, said its group service revenue decreased 20.8% to 85.3 billion rand. In constant currency, group service revenue, which excludes device and SIM card revenue, rose 12.1%.



The company&#8217;s service revenue from South Africa surpassed that of MTN Nigeria&nbsp;MTNN.LG, its biggest market by revenue, and rose 3.3% to 21.1 billion rand.



Revenue from the company&#8217;s Nigeria operations tumbled 52.9% to 20.5 billion rand, while on a constant currency basis it increased 32.4%.



Nigeria has suffered chronic dollar shortages in recent months that have forced authorities to devalue the naira twice in less than a year, as part of the new government&#8217;s measures to stabilise the currency and attract investment.



MTN Group, which anticipates paying a minimum ordinary final dividend of 330 cents per share for fiscal 2024, is making inroads in raising 25 billion rand by next year from non-core asset sales and reducing its ownership in its businesses, Mupita said on a post-earnings call.



The company has already raised 21.7 billion rand so far from non-core asset sales and should reach its target of raising 25 billion rand by next year, Mupita added.



The telecom operator reduced its stakes in MTN Ghana and MTN Uganda during the reporting period for a combined 1.7 billion rand.



There will be further stake sales in Ghana of about 2.1%, and in Cameroon, Ivory Coast and Nigeria, according to Mupita.



(Reporting by Nqobile Dludla; Editing by Tom Hogue, Sherry Jacob-Phillips and Shounak Dasgupta)

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South African Markets – Factors to watch on Aug 21

Sibanye finalises $101 mln gold prepayment deal, refinances credit facility

Shein sues Temu over copyright infringement, alleges rival loses money on every sale

Nigeria expects to meet $12.5 billion revenue target

South Africa’s Transnet seeks debt relief from government

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Saudi Arabia’s sovereign wealth fund assets reach $925 billion

Qatar Airways says it will take 25% stake in South Africa’s Airlink

Ghana begins construction of $12 bln petroleum hub

Kenya’s top court suspends judgment nullifying 2023 finance law

How the ultra wealthy travel in Singapore

South African rand softer ahead of leading indicator

South African Markets – Factors to watch on Aug 20

Senegal sets up commission to review oil and gas contracts

Sasol profit plunges 66% on weak chemical prices, skips final dividend

Emergent to donate 50,000 vaccine doses to address mpox outbreak in Africa

South Africa’s MTN swings to half-year loss as Nigeria currency devaluation weighs

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South African Markets – Factors to watch on Aug 21

Sibanye finalises $101 mln gold prepayment deal, refinances credit facility

Shein sues Temu over copyright infringement, alleges rival loses money on every sale

Nigeria expects to meet $12.5 billion revenue target

South Africa’s Transnet seeks debt relief from government

Why Airlines Like American Are Scrambling To Make Engines Last Longer

Saudi Arabia’s sovereign wealth fund assets reach $925 billion

Qatar Airways says it will take 25% stake in South Africa’s Airlink

Ghana begins construction of $12 bln petroleum hub

Kenya’s top court suspends judgment nullifying 2023 finance law

How the ultra wealthy travel in Singapore

South African rand softer ahead of leading indicator

South African Markets – Factors to watch on Aug 20

Senegal sets up commission to review oil and gas contracts

Sasol profit plunges 66% on weak chemical prices, skips final dividend

Emergent to donate 50,000 vaccine doses to address mpox outbreak in Africa

South Africa’s MTN swings to half-year loss as Nigeria currency devaluation weighs

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