<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="800" height="534" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UWIKV4GDEJJVZLW6UE2OMJCQHA.jpg" alt="" class="wp-image-519143" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UWIKV4GDEJJVZLW6UE2OMJCQHA.jpg 800w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UWIKV4GDEJJVZLW6UE2OMJCQHA-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UWIKV4GDEJJVZLW6UE2OMJCQHA-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UWIKV4GDEJJVZLW6UE2OMJCQHA-768x513.jpg 768w" sizes="auto, (max-width: 800px) 100vw, 800px" /><figcaption class="wp-element-caption">A general view of the cityscape of Addis Ababa, Ethiopia, April 24, 2024. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



LONDON/NEW YORK, Aug 14 (Reuters)&nbsp;&#8211;&nbsp;A group of foreign holders of Ethiopia&#8217;s $1 billion international bond said on Wednesday it was disappointed with recent government comments regarding a possible 20% principal haircut on their holdings.



The group &#8220;does not view any such haircut as being consistent with its evaluation of Ethiopia&#8217;s economic fundamentals,&#8221; it said via email, calling the government&#8217;s recent public statements &#8220;incompatible with a good-faith approach to debt restructuring.&#8221;



The government did not respond to a request for comment.



The comments set the stage for tense restructuring negotiations in the wake of Ethiopia defaulting on its sole international bond in December and has made little headway since.



The country surprised bondholders by announcing plans earlier this month to reduce the bond principal to $800 million, indicating a 20% haircut, citing the need to match debt relief offered by official creditors.



The creditor group, which says it holds more than 40% of the bond, called for transparency and public disclosure of any assumptions made with the input of official bilateral creditors.



The East African country requested a debt&nbsp;rework in&nbsp;early 2021 under the G20 Common Framework restructuring process, but a two-year civil war, which ended in a truce in late 2022, delayed progress.



Ethiopia had secured an agreement with the International Monetary Fund for a new $3.4 billion financing program in July.



The government at the time said it planned to finalise the restructuring before the first review of its&nbsp;IMF programme.&nbsp;According to the&nbsp;Fund, initial reviews will be held on a quarterly basis.



The IMF did not respond to a request for comment.



Negotiating in&nbsp;good faith&nbsp;is key for the progress of any country&#8217;s IMF programme, which includes&nbsp;timely dialogue,&nbsp;information sharing and&nbsp;the opportunity for&nbsp;creditor input.



Ethiopia&#8217;s Eurobond slipped 0.3 cents in a sixth straight session of declines, being bid at 76.5 cents, Tradeweb data showed.



The security is held by major asset management firms, such as Eaton Vance, Morgan Stanley, Vanguard and BlackRock, according to EMAXX data.



The bond&nbsp;makes up a small part of Ethiopia&#8217;s external debt.



The IMF estimates that as of end-June, external debt stood at $28.9 billion, around half of which it owed to multilateral lenders such as the IMF, World Bank and African Development Bank.



Of the $12.4 billion owed to bilateral lenders, China accounts for $7.4 billion and Saudi Arabia just over $1 billion. Ethiopia&nbsp;owes under $2 billion to Paris Club rich creditor nations.



Ethiopia failed to reach an agreement in formal talks with investors late last year. Back then, the government proposed to swap the existing bond for a new $1 billion issue that would be paid off starting in 2028.



&#8220;There&#8217;s no formal proposal out there so we don&#8217;t know what the government intends,&#8221; said Kevin Daly, portfolio manager at abrdn, which holds the bond but is not part of the creditor group,&nbsp;adding&nbsp;a deal would probably be found between the previous government offer and the 20% haircut proposal.



Yvette Babb, portfolio manager at William Blair, said a swift debt rework should be possible, though Ethiopia&#8217;s apparent lack of desire to issue Eurobonds down the line might make for less urgency on the government side.



&#8220;This is not a very complex case &#8211; it&#8217;s a single bond, $1 billion, the IMF parameters are pretty clear. It&#8217;s really a matter of the willingness for all parties to get this done quickly.&#8221;



(Reporting by Libby George, Duncan Miriri, Rodrigo Campos and Karin Strohecker; Editing by Chizu Nomiyama, Jan Harvey, Richard Chang, Jonathan Oatis and Ana Nicolaci da Costa)

A general view of the cityscape of Addis Ababa

Ethiopia bondholders disappointed by proposed bond haircut

Desirèe Henry on why training is the hardest part of going pro

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-2002633089-scaled.jpg" alt="" class="wp-image-518909" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-2002633089-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-2002633089-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-2002633089-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-2002633089-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-2002633089-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-2002633089-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">CAPE TOWN, SOUTH AFRICA &#8211; FEBRUARY 13: Ashor Sarupen, deputy chairperson of the DA Federal Council at the podium during the 2024 State of the Nation Address (SONA) Debate at Cape Town City Hall on February 13, 2024 in Cape Town, South Africa. The National Assembly (NA) and the National Council of Provinces (NCOP) held joint sittings to debate the State of the Nation Address (SONA), which President Cyril Ramaphosa delivered at the Cape Town City Hall on February 8th. (Photo by Jeffrey Abrahams/Gallo Images via Getty Images)</figcaption></figure>



PRETORIA, Aug 14 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s new government is committed to rapid reforms that could help push growth to at least 3.5% in the medium term and reduce unemployment, Deputy Finance Minister Ashor Sarupen said on Wednesday.



Growth in Africa&#8217;s most industrialised nation has been anaemic in the last decade owing partly to an energy crisis and challenges in the state-dominated logistics sector, while unemployment and inequality have risen. The economy grew 0.6% in 2023.



President Cyril Ramaphosa, whose African National Congress (ANC) was forced into a government of national unity after losing its parliamentary majority in May&#8217;s election, has repeatedly urged reforms to boost growth and jobs.



The official&nbsp;unemployment rate&nbsp;hit 33.5% in April-June of this year, not far off record highs.



Sarupen, of the free-market Democratic Alliance (DA), said the unity government acknowledged that reforms &#8220;need to happen with pace to get people into jobs&#8221;.



&#8220;There&#8217;s appetite for reform and that&#8217;s been heartening to see, and that&#8217;s made the transition also a little bit easier,&#8221; Sarupen told Reuters in an interview at his office in Pretoria.



South Africa&#8217;s GDP even shrank 0.1% in the first quarter from the previous one, though it was up 0.5% year-on-year.



&#8220;We&#8217;ve got to get growth in the medium term, so at the end of three years, maybe to the outer year &#8230; I think we&#8217;ve got to try to get that up to 3-1/2%,&#8221; Sarupen said.



Some political analysts had feared the divergence in ideology between the two biggest parties in the government &#8211; ANC and DA &#8211; would make it hard to agree how to revive the economy.



Sarupen, who shares the role of deputy finance minister with the ANC&#8217;s David Masondo, added that, while the government would maintain its fiscal path and discourage higher spending, he had a new appreciation for the constraints on the Treasury.



Two big contributors to government spending in recent years have been the public sector wage bill and a 350 rand ($19) per month grant introduced in 2020 to support those hardest hit by the COVID-19 pandemic.



Sarupen said he would support keeping the grant beyond 2026 and perhaps converting it to a basic income payment:



&#8220;For social stability, for social security, and if it can be accommodated within the fiscal envelope as it stands &#8230; I think it should stay in place.&#8221; 



($1 = 18.0526 rand)



(Reporting by Kopano Gumbi; Editing by Olivia Kumwenda-Mtambo and Kevin Liffey)

SONA Debate At Cape Town City Hall Day 01 In South Africa

South Africa’s government set on speedy reforms, says deputy minister

How do artistic swimmers hold their breath for so long?

Why It Feels Like The U.S. Is In A Recession

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1365" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FYWWSVJ7GZPUZHCREMBLZUUK6I-scaled.jpg" alt="" class="wp-image-518808" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FYWWSVJ7GZPUZHCREMBLZUUK6I-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FYWWSVJ7GZPUZHCREMBLZUUK6I-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FYWWSVJ7GZPUZHCREMBLZUUK6I-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FYWWSVJ7GZPUZHCREMBLZUUK6I-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FYWWSVJ7GZPUZHCREMBLZUUK6I-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FYWWSVJ7GZPUZHCREMBLZUUK6I-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">A view of the Bank of Zambia in Lusaka, Zambia February 23, 2024. REUTERS/Namukolo Siyumbwa/File Photo</figcaption></figure>



LUSAKA, Aug 14 (Reuters)&nbsp;&#8211;&nbsp;Zambia&#8217;s central bank kept its benchmark lending rate unchanged on Wednesday, saying that although inflation remained high its stance was appropriate given the economic impact of a severe drought.



The decision to hold the Monetary Policy Rate at 13.50% follows six successive meetings at which it was raised. So far this year the Bank of Zambia has implemented a 100 basis point hike in May and a 150 basis point increase in February.



&#8220;While actual and projected inflation remain elevated relative to the 6%-8% target band, the committee judged that the current monetary policy stance is appropriate,&#8221; central bank Governor Denny Kalyalya told a news conference.



Inflation has been rising since the middle of last year, reaching 15.4% year on year in July, fuelled by a slide in the kwacha currency and the worst drought in the southern African region in decades.



The central bank now anticipates inflation will average 15.3% in 2024, up from the 13.7% forecast it gave at its last policy meeting in May.



Kalyalya said the completion of Zambia&#8217;s external debt restructuring and implementation of structural reforms remained critical to lower inflation.



Weighed down by delays in restructuring talks and limited foreign-currency inflows, the kwacha hit repeated record lows against the dollar from November to February and has been highly volatile since.



&#8220;In taking the decision to maintain the Policy Rate as opposed to raising it, the committee also took into account the impact on the stability of the financial system and growth, particularly in 2024, in the wake of the drought,&#8221; Governor Kalyalya said.



(Writing by Bhargav Acharya; Editing by Alexander Winning and David Holmes)

FYWWSVJ7GZPUZHCREMBLZUUK6I

Zambia central bank holds key rate, citing impact of drought

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108001452-1720019731770-gettyimages-1223257669-dsc04844_2020050625641680-820x461.jpeg" alt="" class="wp-image-518888" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108001452-1720019731770-gettyimages-1223257669-dsc04844_2020050625641680-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108001452-1720019731770-gettyimages-1223257669-dsc04844_2020050625641680-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108001452-1720019731770-gettyimages-1223257669-dsc04844_2020050625641680-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108001452-1720019731770-gettyimages-1223257669-dsc04844_2020050625641680-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108001452-1720019731770-gettyimages-1223257669-dsc04844_2020050625641680-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108001452-1720019731770-gettyimages-1223257669-dsc04844_2020050625641680.jpeg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



Inflation rose as expected in July, driven by higher housing-related costs, according to a Labor Department report Wednesday that is likely to keep an interest rate cut on the table in September.



The consumer price index, a broad-based measure of prices for goods and services, increased 0.2% for the month, putting the 12-month inflation rate at 2.9%. Economists surveyed by Dow Jones had been looking for respective readings of 0.2% and 3%.



Excluding food and energy, the core CPI came in at a 0.2% monthly increase and a 3.2% annual rate, meeting expectations.



The annual rate is the lowest since March 2021, while the core is the lowest since April 2021, according to the Bureau of Labor Statistics report. Headline inflation was 3% in June.



A 0.4% rise in shelter costs was responsible for 90% of the all-items inflation increase. Food prices climbed 0.2% while energy was flat.



Stock market futures were mildly negative after the report, while Treasury yields were mostly higher.



Though food inflation was soft on the month, multiple categories saw sizeable increases, most notably eggs, which were up 5.5%. Cereals and bakery items declined 0.5% while dairy and related products fell 0.2%.



Inflation readings have been gradually drifting back to the central bank’s 2% target. A report Tuesday from the Labor Department showed that producer prices, a proxy for wholesale inflation, rose just 0.1% in July and were up 2.2% year over year.



Fed officials have indicated a willingness to ease, though they’ve been careful not to commit to a specific timetable nor to speculate about the pace at which cuts might occur. Futures market pricing currently points to a slightly better chance of a quarter percentage point reduction&nbsp;at the Fed’s next scheduled meeting, Sept. 17-18,&nbsp;and at least a full point in moves by the end of 2024.



“Today’s CPI print removes any lingering inflation obstacles that may have been preventing the Fed from starting the rate cutting cycle in September,” said Seema Shah, chief global strategist at Principal Asset Management. “Yet, the number also suggests limited urgency for a 50 basis point cut.”



As inflation has eased, percolating concerns about a slowing labor market seemed to have raised the likelihood that the Fed will start cutting for the first time since the early days of the Covid crisis.



“Coming down, but the sticky areas continue to be sticky,” Liz Ann Sonders, chief investment strategist at Charles Schwab, said in describing the CPI report. “We have to keep a close eye on both the inflation data as well as the employment data.”



There were several crosscurrents in the report that indeed suggest inflation is stubborn in some areas.



Automotive prices continued to decline, with new vehicles down 0.2% and used cars and trucks off 2.3% for the month and 10.9% from a year ago. However, auto insurance costs climbed another 1.2% and are up 18.6% on a 12-month basis.



On the shelter component, which makes up more than one-third of the index, an item that asks property owners what they could get in rent increased 0.4% and was up 5.3% annually, again defying Fed expectations for an easing in housing-related costs.



On the other hand, multiple categories showed signs of deflation on the month, including medical care services (-0.3%), apparel (-0.4%) and core commodity prices (-0.3%).

108001452-1720019731770-gettyimages-1223257669-dsc04844_2020050625641680

U.S. annual inflation rate slows to 2.9% in July, lowest since 2021

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1153" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-scaled.jpg" alt="" class="wp-image-518815" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-820x462.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_003223-1536x865.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Photo courtesy of Godfrey Mutizwa</figcaption></figure>



Land borders in Africa are by nature intimidating places if you don’t know where you are going. First are the crowds, among them hangers-on and tricksters always looking for an opportunity for a quick buck. And then the officials, serious looking and rarely offering a smile.



But I was going home and as a veteran of Beitbridge, one of Africa’s busiest land borders, I was excited to be making the crossing for the first time since it was upgraded and modernised almost three years ago by Zimborders for some $300 million on a Build, Operate and Transfer basis.



On approaching the South African border however my excitement was tempered by a two to three-kilometre stretch of goods trucks – harking back to the bad days before the upgrade when it would take truck drivers as many as two weeks to cross – because of inefficiencies, corruption and in some cases just sheer volumes.



Beitbridge is one busy border post, providing the biggest trade link for the southern Africa hinterland comprising Zimbabwe, Zambia, the Democratic Republic of the Congo (DRC), Malawi and sometimes further afield to parts of western Tanzania. Between them, Zambia and the DRC are key global copper producers, while Zimbabwe’s new Chinese funded lithium mines now account for more than two-thirds of Africa’s lithium output, Bloomberg reports.



There are serious mineral volumes and capital equipment being moved here before counting manufactured goods that flow north for South Africa’s neighbours with no meaningful manufacturing bases of their own. But Zimborders was supposed to solve that, I consoled myself.



In an opinion piece published on our web page in March this year, Glynn Cohen, the Chairman of Zimborders wrote: ‘’This flagship project will undoubtedly be successful – improving efficiency, reducing congestion and transit fraud…already, it now takes a few hours for trucks to cross the border compared with up to a week before’’.



But I had not reckoned with the South African side of the border. The arrival hall was one mass of people when we arrived with queues stretching outside and no sign of any official intervention. With my nephew in tow, we squeezed inside, and I am ashamed to say, many `sorries’ later, we jumped the queue and an hour later were by the exit gates.



But the ordeal was just beginning. Unbeknown to me, the immigration lady who stamped my passport, had made a mistake and an eagle-eyed police officer at the exit gate spotted the error and promptly sent me back to the hoards inside the arrival hall. Many swear words later I was back at the exit gate but by then my transport was gone and so I had to walk to the Zimbabwean side, an experience I have been told could be hazardous.



I took off but was pleasantly surprised by the visible policing on the South Africa side. However, the minute you step on the Zimbabwean side, things change. Hawkers selling everything from roasted maize to cool drinks dotted the route even at 1am. And then the darkness! While the South African side was well lit, there were neither lights nor security until I reached the army post at the entrance to Zimbabwe. I made it without a scratch but truth be told I was shaken.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1153" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-scaled.jpg" alt="" class="wp-image-518816" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-820x462.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-160x90.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/20240812_023622-1536x865.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Photo courtesy of Godfrey Mutizwa</figcaption></figure>



A few metres later however Zimborders was there. True of border posts, the new building is imposing and it has to be said, impressive. The experience inside was even better, the whole exit process taking me half an hour. Thank you Africa Export-Import Bank and South African banks that funded this, I thought as we headed into the night.



So I must concede Mr Cohen was right. The upgrade has certainly made a huge difference from the corruption infested old post I had used for many years. However, the South African side has clearly not read the script and the experience got even worse when I returned, this time by bus. The hour I spent on the way out became four hours.



Put simply, the South African officials we encountered on the 12th of August 2024 didn’t care. We were grouped by our busses but the queue outside the arrival hall was one giant milling mass of people. One minute we were told to follow our driver inside, and the next we were chucked out because the official decided otherwise.



While all this is happening one could clearly see the officials sitting behind their desks chatting with nary a care in the world. You are shouted at like you are misbehaving children when those queues contain adults taking care of their households, working in the mines, running companies sustaining the economies of southern Africa.



It was shameful. But when you have done this crossing as many times as I have, you understand an immigration official wields absolute power. One word out of turn will take you and your fellow travellers to the back of the queue. You wait for this important man – it was mostly men – to stamp your passport without complaint.



So much for boosting intra-African trade. This was one bruising encounter that will take some time to heal but who is listening? While the Border Management Authority represents South Africa’s latest attempt to clean up its ports of entry, on the ground, I saw no change.



You can still cross the border without a passport for a thousand rand or more, a lady travelling beside me told me. Some 700 rand allows you to be given more days – as many as three months instead of a week, and 500 rand can enable you to jump the patient masses and get your passport stamped quicker.



For the record, I didn’t pay. All I did was push and hustle my fellow travellers for which I am truly sorry.

20240812_003223

Chronicle of a Beitbridge border crossing

<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-1604532392-820x547.jpg" alt="" class="wp-image-510212" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A worker at a foreign exchange currency bureau counts 1000 Ugandan shilling banknotes in Kampala, Uganda, on Wednesday, Aug. 16, 2023. Uganda&#8217;s central bank said it stands ready to act if the World Bank&#8217;s decision to halt new funding over the country&#8217;s passage of anti-LGBTQ legislation impacts the currency further. Photographer: Luke Dray/Bloomberg via Getty Images</figcaption></figure>



KAMPALA, Aug 14 (Reuters) &#8211; The Ugandan shilling traded stable on Wednesday, underpinned by a slowdown in appetite for hard currency from both merchandise importers and players in the interbank market, traders said.



At 0942 GMT commercial banks quoted the shilling at 3,725/3,735, same level as Tuesday&#8217;s close.



(Reporting by Elias Biryabarema; Editing by Hereward Holland)

Ugandan shilling stable as demand thins out

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-820x547.jpg" alt="" class="wp-image-409717" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-120x80.jpg 120w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Kenyan shilling banknotes and coins sit arranged at a market stall in Mombasa, Kenya, on Thursday, Nov. 23, 2017. The countrys Treasury has already cut this years growth target to 5 percent from 5.9 percent as the protracted election furor damped investment and a drought curbed farm output. Photographer: Luis Tato/Bloomberg via Getty Images</figcaption></figure>



NAIROBI, Aug 14 (Reuters) &#8211; Kenya&#8217;s shilling was flat against the U.S. dollar on Wednesday, as foreign-currency inflows for a bond auction matched reduced dollar demand from manufacturers and fuel importers, traders said.



At 0907 GMT, commercial banks quoted the shilling at 128.75/129.75 per dollar, the same level it closed on Tuesday.



On Wednesday the central bank will auction 50 billion Kenyan shillings of infrastructure bonds.



&#8220;The central bank has also been buying dollars to keep the rate at a stable level,&#8221; one trader said.



(Reporting by Hereward Holland; Editing by Alexander Winning)

General Economy As Kenya Faces Bleak 2018 Outlook In Vote Aftermath

Kenyan shilling flat as FX inflows for bond auction match demand

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="539" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YWWKJYXNFNKNXNNTA7PVQVR7QU-820x539.jpg" alt="" class="wp-image-518805" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YWWKJYXNFNKNXNNTA7PVQVR7QU-820x539.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YWWKJYXNFNKNXNNTA7PVQVR7QU-300x197.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YWWKJYXNFNKNXNNTA7PVQVR7QU-137x90.jpg 137w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YWWKJYXNFNKNXNNTA7PVQVR7QU-768x505.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YWWKJYXNFNKNXNNTA7PVQVR7QU-1536x1010.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YWWKJYXNFNKNXNNTA7PVQVR7QU-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A logo of the Bank of Namibia is seen at the company&#8217;s headquarters in Windhoek, Namibia, February 24, 2017. REUTERS/Siphiwe Sibeko</figcaption></figure>



WINDHOEK, Aug 14 (Reuters)&nbsp;&#8211;&nbsp;Namibia&#8217;s central bank cut its main interest rate by 25 basis points on Wednesday, citing a slowdown in inflation and inflation expectations.



The Bank of Namibia reduced its repo rate to 7.50% from 7.75%, where the rate had been since June 2023.



Namibia&#8217;s inflation was at 4.6% year on year in July, the same level as in June but down from 4.9% in May.



The central bank revised down its average inflation forecast for this year to 4.7%, versus a 4.9% forecast given at its last Monetary Policy Committee meeting in June.



It attributed the downward revision to an appreciation of the Namibian dollar and a moderation in crude oil prices.



&#8220;With inflation and inflation expectations slowing and nominal interest rates unchanged, real interest rates have increased thereby signalling an effective tightening of monetary policy,&#8221; central bank Governor Johannes !Gawaxab said in a statement accompanying the decision.



&#8220;Considering these factors, the MPC felt that a moderate easing of monetary policy was warranted.&#8221;



The central bank reduced its 2024 economic growth forecast by 0.6 percentage point to 3.1%, partly because of a severe drought gripping the southern African region.



(Writing by Bhargav Acharya; Editing by Alexander Winning and Toby Chopra)

A logo of the Bank of Namibia is seen at the company’s headquarters in Windhoek

Namibia central bank cuts main interest rate by 25 basis points

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="567" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-820x567.jpg" alt="" class="wp-image-502655" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-820x567.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-300x208.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-130x90.jpg 130w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-768x531.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-1536x1063.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African Rand coins are seen in this illustration picture taken October 30, 2020. REUTERS/Mike Hutchings/File Photo</figcaption></figure>



JOHANNESBURG, Aug 14 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand was little changed early on Wednesday, ahead of the release of local business confidence and retail sales data.



At 0659 GMT, the rand traded at 18.1025 against the dollar, near its previous close.



The South African Chamber of Commerce and Industry will release business confidence numbers for June and July at 0930 GMT.



June retail sales data from Statistics South Africa is due at 1100 GMT.



On the stock market, the Top-40 index was up 0.1% in early trade.



South Africa&#8217;s benchmark 2030 government bond was stronger in early deals, with the yield down 3 basis points to 9.235%.



(Reporting by Bhargav Acharya; Editing by Shounak Dasgupta)

South African rand muted ahead of local data releases

<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 14 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Wednesday.



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



South Africa July Business Confidence Index



South Africa June retail sales data



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



The South African rand gained against a weaker dollar on Tuesday, shrugging off lacklustre domestic mining and unemployment data.



On the stock market, the Top-40 index closed up over 0.5%.



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



Asian shares rose on Wednesday after soft U.S. producer prices data stirred hopes that consumer price inflation would be benign, while the kiwi dollar slumped after its central bank cut rates for the first time since early 2020.



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



U.S. indexes closed up on Tuesday and hit a near two-week high after softer producer prices data reinforced bets of an interest-rate cut by the Federal Reserve in September.



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



Gold prices edged lower on Wednesday as investors remained on the sidelines ahead of a key U.S. inflation report later in the day that could set the tone for the Federal Reserve&#8217;s September policy meeting.



&#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; Business balks at signing presidential health compact, citing NHI



&#8211; Transnet questions private sector’s preparedness for third-party access, says CEO Michelle Phillips



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



&#8211; Transnet says it may deliver a profit next year &#8211; if it can hit its rail targets



(Compiled by Bhargav Acharya)

istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Aug 14

<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 14 (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-global-markets">GLOBAL MARKETS</h2>



Asian shares rose and the dollar nursed losses on Wednesday after soft U.S. producer prices data stirred hopes that consumer price inflation would be benign, sending bond yields lower.



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



Oil prices climbed on Wednesday on estimates about shrinking U.S. crude and gasoline inventories as the market watched for a possible widening of the Middle Eastern war, which could curtail global oil supplies.



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



The South African rand gained against a weaker dollar on Tuesday, shrugging off lacklustre domestic mining and unemployment data.



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



Kenya&#8217;s shilling inched higher against the U.S. dollar on Tuesday, lifted by dollar inflows from remittances and offshore investors attracted by an upcoming infrastructure bond auction, traders said.



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



Africa&#8217;s top public health body declared what it termed a &#8220;public health emergency of continental security&#8221; on Tuesday over an outbreak of mpox that has spread from the Democratic Republic of Congo to neighbouring countries.



<h2 class="wp-block-heading" id="h-somalia-ethiopia-diplomacy">SOMALIA-ETHIOPIA DIPLOMACY</h2>



A second round of Turkish-mediated talks between Somalia and Ethiopia over a port deal Addis Ababa signed with the breakaway Somaliland region ended without a deal on Tuesday, but Turkey and ministers from both countries sounded upbeat on progress.



<h2 class="wp-block-heading" id="h-tanzania-politics">TANZANIA POLITICS</h2>



Several leaders of Tanzania&#8217;s main opposition party CHADEMA and hundreds of their supporters were released on Tuesday after mass arrests over a banned youth meeting in the southwest of the country, police and a party spokesperson said.



((Compiled by Nairobi Newsroom))

World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Aug 14

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1290" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TY7OYQCA35KY5IVPS5BCE5Y65M-scaled.jpg" alt="" class="wp-image-513730" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TY7OYQCA35KY5IVPS5BCE5Y65M-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TY7OYQCA35KY5IVPS5BCE5Y65M-300x189.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TY7OYQCA35KY5IVPS5BCE5Y65M-820x516.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TY7OYQCA35KY5IVPS5BCE5Y65M-143x90.jpg 143w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TY7OYQCA35KY5IVPS5BCE5Y65M-768x484.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TY7OYQCA35KY5IVPS5BCE5Y65M-1536x967.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: Diamonds are displayed at the De Beers Global Sightholder Sales (GSS) in Gaborone, Botswana, November 24, 2015. REUTERS/Siphiwe Sibeko/File Photo</figcaption></figure>



GABORONE, (Reuters) &#8211; Botswana intends to renegotiate its proposed purchase of a stake in Belgian gem dealer HB Antwerp to double the size of its shareholding at no extra cost following the downturn in the diamond market, the country&#8217;s mines minister said on Tuesday.



Botswana is the world&#8217;s biggest diamond producer by value, meaning its economy has been disproportionately hit by a drop in demand for diamonds caused by a global economic slowdown.



Lefoko Moagi told parliament the weaker diamond market had also affected the company&#8217;s valuation, giving the country room to renegotiate.



&#8220;We will not be injecting more capital, but we will get more shares for the same amount proposed in 2023,&#8221; Moagi said. &#8220;Instead of the 24%, we will negotiate to get 49.9% for the same amount initially proposed.”



Finance ministry budget documents showed in February that the country had set aside 890 million pula ($65.95 million) for the 24% stake, valuing the Belgian company at about $275 million.



The HB Antwerp deal was announced during Botswana&#8217;s negotiations for a new sales contract with Anglo American&#8217;s diamond unit De Beers in March 2023.



As Botswana sought to increase its power to market its stones outside a decades-old agreement with De Beers, it said the HB Antwerp deal would strengthen its presence in the downstream diamond industry.



It includes supplying the trader with rough diamonds for five years through the state-owned Okavango Diamond Company (ODC).



($1 = 13.4953 pulas)



(Reporting by Brian Benza; editing by Nelson Banya and Barbara Lewis)

FILE PHOTO: Diamonds are displayed at the De Beers Global Sightholder Sales (GSS) in Gaborone, Botswana

Botswana aims to negotiate bigger stake in HB Antwerp diamond dealer

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="800" height="519" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UMBTJI4JKVLT5FGG6KDRNAJQHE.jpg" alt="" class="wp-image-518733" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UMBTJI4JKVLT5FGG6KDRNAJQHE.jpg 800w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UMBTJI4JKVLT5FGG6KDRNAJQHE-300x195.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UMBTJI4JKVLT5FGG6KDRNAJQHE-139x90.jpg 139w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/UMBTJI4JKVLT5FGG6KDRNAJQHE-768x498.jpg 768w" sizes="auto, (max-width: 800px) 100vw, 800px" /><figcaption class="wp-element-caption">FILE PHOTO: Dr. Tresor Wakilongo, verifies the evolution of skin lesions on the ear of Innocent, suffering from Mpox &#8211; an infectious disease caused by the monkeypox virus that sparks off a painful rash, enlarged lymph nodes and fever; at the treatment centre in Munigi, following Mpox cases in Nyiragongo territory near Goma, North Kivu province, Democratic Republic of the Congo July 19, 2024. REUTERS/Arlette Bashizi/File Photo</figcaption></figure>



LONDON, Aug 14 (Reuters)&nbsp;&#8211;&nbsp;Vaccines to help curb an escalating mpox outbreak in Democratic Republic of Congo and neighbouring countries may still not reach the central African country for months even as the World Health Organization considers following Africa’s top public health agency in declaring the outbreak an emergency.



On Tuesday, Africa Centres for Disease Control and Prevention declared a public health emergency of continental concern for the first time ever, and on Wednesday, a WHO-led panel meets to decide if it represents a global threat.



But while experts hoped the meetings would galvanise action worldwide, many obstacles remain, including limited vaccine supply, funding and competing disease outbreaks.



“It is important to declare an emergency because the disease is spreading,” said Jean-Jacques Muyembe-Tamfum, head of Congo’s Institut National pour la Recherche Biomedicale (INRB). He said he hoped any declaration would help provide more funding for surveillance as well as supporting access to vaccines in Congo.



But he acknowledged the road ahead was not easy in a huge country where health facilities and humanitarian funds are already stretched by conflict and outbreaks of diseases like measles and cholera.



“If the big declarations remain just words, it won’t make any material difference,” said Emmanuel Nakoune, an mpox expert at the Institut Pasteur de Bangui in Central African Republic.



Africa CDC said last week it had been granted $10.4 million in emergency funding from the Africa Union for its mpox response, and its director general Jean Kaseya said on Tuesday there was a clear plan to secure 3 million doses of vaccine this year, without elaborating further.



However, sources involved in planning a vaccination roll-out in Congo said only 65,000 doses were likely to be available in the short-term, and campaigns were unlikely to begin before October at the earliest.



There have been more than 15,000 suspected cases of mpox in Africa this year and 461 deaths, mainly among children in Congo, according to Africa CDC. The viral infection is usually mild but can kill, and causes flu-like symptoms and pus-filled lesions.



A new offshoot of the virus has caused outbreaks in refugee camps in the east of Congo this year, and spread to Uganda, Burundi, Rwanda and Kenya for the first time.



Ivory Coast and South Africa are also experiencing outbreaks linked to a different strain of the virus, which spread globally in 2022, largely among men who have sex with men. This outbreak prompted WHO to declare a global emergency before ending it 10 months later.



Then, two vaccines were used &#8211; Bavarian Nordic’s Jynneos, and LC16, made by KM Biologics. Outside clinical trials, neither has ever been available in Congo or across Africa, where the disease has been endemic for decades. Only LC16 is approved for use in children.



Congo&#8217;s regulators approved the use of the vaccines domestically in June, but the government is yet to officially request any from either the manufacturers or governments like the United States looking to make donations through the global vaccine group, Gavi.



(Reporting by Jennifer Rigby; Editing by Giles Elgood)

FILE PHOTO: Children at risk as mpox variant hits Congo displacement camps

Mpox vaccines likely months away even as WHO, Africa CDC discuss emergency

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="800" height="529" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/U4ZO2CUGW5IUBMTRVQDPXQQ7R4.jpg" alt="" class="wp-image-518486" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/U4ZO2CUGW5IUBMTRVQDPXQQ7R4.jpg 800w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/U4ZO2CUGW5IUBMTRVQDPXQQ7R4-300x198.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/U4ZO2CUGW5IUBMTRVQDPXQQ7R4-136x90.jpg 136w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/U4ZO2CUGW5IUBMTRVQDPXQQ7R4-768x508.jpg 768w" sizes="auto, (max-width: 800px) 100vw, 800px" /><figcaption class="wp-element-caption">FILE PHOTO: Christian Musema, a laboratory nurse, takes a sample from a child declared a suspected case Mpox &#8211; an infectious disease caused by the monkeypox virus that spark-off a painful rash, enlarged lymph nodes and fever; at the the treatment centre in Munigi, following Mpox cases in Nyiragongo territory near Goma, North Kivu province, Democratic Republic of the Congo July 19, 2024. REUTERS/Arlette Bashizi/File Photo</figcaption></figure>



Aug 13 (Reuters)&nbsp;&#8211;&nbsp;Africa&#8217;s top public health body declared what it termed a &#8220;public health emergency of continental security&#8221; on Tuesday over an outbreak of mpox that spread from the Democratic Republic of Congo to neighbouring countries.



Mpox is transmitted through close contact and causes flu-like symptoms and pus-filled lesions. Most cases are mild but it can kill.



The outbreak in Congo began with the spread of an endemic strain, known as Clade I. But the new variant, known as Clade Ib, appears to spread more easily through routine close contact, particularly among children.



The Africa Centres for Disease Control and Prevention (Africa CDC) warned last week that the viral infection&#8217;s rate of spread was alarming.



It said that over 15,000 mpox cases and 461 deaths were reported on the continent this year so far, representing a 160% increase from the same period last year.



Mpox has been endemic in parts of Africa for decades after it was first detected in human in the Democratic Republic of Congo in 1970.



A milder version of the virus spread to over a hundred countries in 2022, largely through sexual contact, prompting the World Health Organization (WHO) to declare a public health emergency of international concern, its highest level of alert.



The WHO ended the emergency 10 months later, saying the health crisis had come under control.



(Reporting by Jessica Donati; Editing by Alex Richardson and David Holmes)

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Ugandan shilling stable as demand thins out

Kenyan shilling flat as FX inflows for bond auction match demand

Namibia central bank cuts main interest rate by 25 basis points

South African rand muted ahead of local data releases

South African Markets – Factors to watch on Aug 14

African Markets – Factors to watch on Aug 14

Botswana aims to negotiate bigger stake in HB Antwerp diamond dealer

Mpox vaccines likely months away even as WHO, Africa CDC discuss emergency

Africa public health body declares mpox emergency

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Ethiopia bondholders disappointed by proposed bond haircut

Desirèe Henry on why training is the hardest part of going pro

South Africa’s government set on speedy reforms, says deputy minister

How do artistic swimmers hold their breath for so long?

Why It Feels Like The U.S. Is In A Recession

Zambia central bank holds key rate, citing impact of drought

U.S. annual inflation rate slows to 2.9% in July, lowest since 2021

Chronicle of a Beitbridge border crossing

Ugandan shilling stable as demand thins out

Kenyan shilling flat as FX inflows for bond auction match demand

Namibia central bank cuts main interest rate by 25 basis points

South African rand muted ahead of local data releases

South African Markets – Factors to watch on Aug 14

African Markets – Factors to watch on Aug 14

Botswana aims to negotiate bigger stake in HB Antwerp diamond dealer

Mpox vaccines likely months away even as WHO, Africa CDC discuss emergency

Africa public health body declares mpox emergency

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