<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/TI3IMIAIRNMQLKEZYNUUIVZMGM-scaled.jpg" alt="" class="wp-image-515273" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TI3IMIAIRNMQLKEZYNUUIVZMGM-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TI3IMIAIRNMQLKEZYNUUIVZMGM-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TI3IMIAIRNMQLKEZYNUUIVZMGM-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TI3IMIAIRNMQLKEZYNUUIVZMGM-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TI3IMIAIRNMQLKEZYNUUIVZMGM-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/TI3IMIAIRNMQLKEZYNUUIVZMGM-1536x1024.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Nigerian security forces stand guard during the third day of anti-government demonstrations against bad governance and economic hardship in Lagos, Nigeria August 3, 2024. REUTERS/Francis Kokoroko</figcaption></figure>



ABUJA, Aug 4 (Reuters) &#8211; Nigeria&#8217;s President Bola Tinubu called on Sunday for a suspension of protests against a cost of living crisis, saying this would create an opportunity for dialogue, his first public comments since frustrated citizens took to the streets last week.



Amnesty International has said at least 13 people were killed in clashes with security forces on the first day of protests on Thursday. Police denied using excessive force and said seven people had died as of Saturday &#8211; four from an explosive device during a march in northeast Borno state, two who were hit by a car and another who was shot by a guard when protesters looted a shop.



In a televised broadcast, Tinubu called for an end to violence in several states since the protests started, saying he was always open for dialogue.



&#8220;My dear&nbsp;Nigerians, especially our youth, I have heard you loud and clear. I understand the pain and frustration that drive these protests, and I want to assure you that our government is committed to listening and addressing the concerns of our citizens,&#8221; he said.



Nigerians have been mobilising online to organise protests against economic hardship and bad governance and have called for a cut in petrol prices and electricity tariffs, among several demands.



Tinubu, in office since May 2023, defended his economic reforms, which have included a partial end to petrol and electricity subsidies and devaluation of the naira, as necessary to reverse years of economic mismanagement.



He government revenues had more than doubled to 9.1 trillion naira ($5.65 billion) in the first half of this year while 68% of revenue now went to debt servicing, down from 97% before he took office in May last year.



The government was also ramping up spending on infrastructure projects, started a loan scheme for university students and was building thousands of housing units across&nbsp;Nigeria&#8217;s 36 states, the president said.



&#8220;But we must not let violence and destruction tear our nation apart,&#8221; said Tinubu.



($1 = 1,610.9000 naira)



(Writing by MacDonald Dzirutwe; Editing by Frances Kerry)

Nigerians continue third day of hardship protests

Nigeria’s president calls for end to protests against economic hardship

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="929" height="523" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107383735-1709777816198-gettyimages-1981632561-JAPAN_COMMUTERS.jpeg" alt="" class="wp-image-515270" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107383735-1709777816198-gettyimages-1981632561-JAPAN_COMMUTERS.jpeg 929w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107383735-1709777816198-gettyimages-1981632561-JAPAN_COMMUTERS-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107383735-1709777816198-gettyimages-1981632561-JAPAN_COMMUTERS-820x462.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107383735-1709777816198-gettyimages-1981632561-JAPAN_COMMUTERS-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107383735-1709777816198-gettyimages-1981632561-JAPAN_COMMUTERS-768x432.jpeg 768w" sizes="auto, (max-width: 929px) 100vw, 929px" /><figcaption class="wp-element-caption">Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, Feb. 6, 2024.  Bloomberg | Bloomberg | Getty Images</figcaption></figure>



Japan stocks confirmed a bear market on Monday as Asia-Pacific markets continued the sell-off from last week, with the Nikkei 225 and Topix dropping over 12%.



The benchmark indexes have fallen more than 20% from their all-time highs on July 11.



The 12.4% loss on the Nikkei — which saw it close at 31,458.42 — was the worst day for the index since the “Black Monday” of 1987. The loss of 4,451.28 points on the index was also the largest in terms of points in its entire history.



The Nikkei also erased all its gains so far this year, moving into a loss position year to date.



The broad-based Topix also saw a rout as it tumbled 12.23% and closed at 2,227.15.



Heavyweight trading houses such as Mitsubishi, Mitsui and Co, Sumitomo and Marubeni all plunged over 14%, with Mitsui seeing a wipeout of almost 20% of its market cap.



Monday’s decline follows Friday’s rout when Japan’s Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020.



In Monday trading, the yen also strengthened to its highest level against the dollar since January, and was last trading at 142.09.



South Korea’s Kospi fell 8.77%, closing at 2,441.55, and the small-cap Kodaq saw a 11.3% wipeout, ending at 691.28.



Due to the magnitude of the sell-off, the exchanges hit circuit breakers, halting trade for the Kospi index at 2.14 p.m. Seoul and at 1.56 p.m. for the Kosdaq. The halt was for 20 minutes. Circuit breakers are activated if stocks rise or fall 8%.



Investors, meanwhile, awaited key trade data from China and Taiwan this week, a well as central bank decisions from Australia and India.



China’s service sector expanded at a faster pace in July, with the country’s purchasing managers’ index climbing to 52.1 in July, up from 51.2 in June.



The Caixin survey said the acceleration of growth was due to faster new business growth, “supported by sustained improvements in underlying demand conditions and an expansion of services offerings.”



Taiwan’s benchmark index, the Taiwan Weighted Index, was down over 8%, dragged by tech and real estate stocks , while Australia’s S&amp;P/ASX 200 fell 3.7% to 7,649.6.



The Reserve Bank of Australia kicks off its two-day monetary policy meeting Monday. Economists polled by Reuters expect the central bank to hold rates steady at 4.35%, but markets will monitor the monetary policy statement for clarity on whether the RBA is still considering a rate hike.



Hong Kong Hang Seng index was down 1.61%, while mainland China’s CSI 300 was down 0.48%, seeing the smallest loss in Asia.



On Friday in the U.S., stocks fell sharply as a much weaker-than-anticipated jobs report for July ignited worries that the economy could be falling into a recession.



The Nasdaq was the first of the three major benchmarks to enter correction territory, down more than 10% from its record high. The S&amp;P 500 and Dow were 5.7% and 3.9% below their all-time highs, respectively.



The S&amp;P 500 dropped 1.84%, while the Nasdaq Composite lost 2.43%. The Dow Jones Industrial Average fell 610.71 points, or 1.51%.



—CNBC’s Pia Singh and Hakyung Kim contributed to this report.

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Japan’s Nikkei logs worst day since 1987 Black Monday crash

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="960" height="730" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015858-1722630576753-gettyimages-2165010509-ms1_7647_t8akammx.jpeg" alt="" class="wp-image-515252" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015858-1722630576753-gettyimages-2165010509-ms1_7647_t8akammx.jpeg 960w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015858-1722630576753-gettyimages-2165010509-ms1_7647_t8akammx-300x228.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015858-1722630576753-gettyimages-2165010509-ms1_7647_t8akammx-820x624.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015858-1722630576753-gettyimages-2165010509-ms1_7647_t8akammx-118x90.jpeg 118w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015858-1722630576753-gettyimages-2165010509-ms1_7647_t8akammx-768x584.jpeg 768w" sizes="auto, (max-width: 960px) 100vw, 960px" /><figcaption class="wp-element-caption">Stock market numbers are displayed on a screen at the New York Stock Exchange during afternoon trading on August 02, 2024 in New York City. Michael M. Santiago | Getty Images</figcaption></figure>



LONDON — European stocks fell sharply at the start of the Monday session, as global volatility continues amid concerns of a looming U.S. recession.



The regional Stoxx 600 index was 2.77% lower by 8:19 a.m. London time, with all sectors and major regional bourses trading in the red. Tech stocks led losses, shedding as much as 5% before paring losses slightly to trade down 4.7%, while banks were 3.7% lower.



The lower start for major European markets comes amid wider global volatility; U.S. stock futures fell Sunday night following a turbulent last week for Wall Street, in which the Nasdaq Composite dropped into correction territory. Asia-Pacific markets also continued the selloff overnight.



Earnings in Europe come from Uniper, Infineon, Monte dei Paschi and Palantir Technologies on Monday. Data releases include services purchasing managers’ index data from the U.K, Italy and Spain.

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European markets plunge 2.7% as global volatility deepens; tech stocks shed 4.7%

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107212428-1679412407200-gettyimages-1243440706-raa-ethereum220922_npJS5-820x461.jpeg" alt="" class="wp-image-515232" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107212428-1679412407200-gettyimages-1243440706-raa-ethereum220922_npJS5-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107212428-1679412407200-gettyimages-1243440706-raa-ethereum220922_npJS5-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107212428-1679412407200-gettyimages-1243440706-raa-ethereum220922_npJS5-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107212428-1679412407200-gettyimages-1243440706-raa-ethereum220922_npJS5-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107212428-1679412407200-gettyimages-1243440706-raa-ethereum220922_npJS5-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/107212428-1679412407200-gettyimages-1243440706-raa-ethereum220922_npJS5.jpeg 1920w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Nurphoto | Nurphoto | Getty Images</figcaption></figure>



The cryptocurrency market plummeted in value on Sunday, as investors continued selling out of risky assets.



Led by a drop of 11% in bitcoin in the past 24 hours and a 21% plunge in ether, the overall value of cryptocurrencies sank by about $270 billion, according to CoinGecko data.



The selloff in the crypto market coincided with a broader slide in equities in Asia-Pacific markets. Japan’s Nikkei 225 dropped as much as 7%, extending losses that began last week, after the Bank of Japan announced it would hike its benchmark interest rate to the highest level in 16 years.



In the U.S. the Nasdaq slid 3.4% last week into correction territory, capping off the tech-heavy index’s worst three-week stretch since September 2022, when the market was in freefall. Amazon and Nvidia contributed to the declines.



Last week’s drop in stocks was tied in part to disappointing earnings, a weaker-than-expected jobs report, higher unemployment and a declining manufacturing sector. The U.S. Federal Reserve opted to hold its benchmark rate steady and didn’t promise a rate cut in September, which many market experts had baked into their forecast. Lower interest rates tend to correlate with better performance for risky assets.



Bitcoin’s price has reached its lowest level since February. The world’s largest cryptocurrency is trading at about $54,000. It’s still up almost 23% this year.



The price of ether, the native token underpinning the ethereum blockchain, fell to around $2,300 and has erased its gains for the year. Binance’s BNB token was down more than 15% and solana is trading 10% lower.



Investors are also looking out for new trade data from China and Taiwan this week, as well as central bank decisions in both India and Australia.



The latest crypto wipeout will be felt by a broader base of investors after the SEC this year approved new spot exchange-traded funds for bitcoin and ether. The ETFs have seen hundreds of millions of dollars flow into the coins. On Friday, CNBC reported that Morgan Stanley would soon allow its 15,000 financial advisors to pitch bitcoin ETFs to its clients, a first for Wall Street.

107212428-1679412407200-gettyimages-1243440706-raa-ethereum220922_npJS5

Crypto selloff wipes out $270 billion in value as bitcoin, ether plunge

Why Walgreens And CVS Are Shutting Down Thousands Of Stores

Putin’s Trader: How Russian hackers stole millions from U.S. investors

Could planes run on hydrogen?

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="884" height="442" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015047-1722527876434-108015047-1722527728357-gettyimages-2159383304-jr029159_ghjrzhsy.jpg" alt="" class="wp-image-514258" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015047-1722527876434-108015047-1722527728357-gettyimages-2159383304-jr029159_ghjrzhsy.jpg 884w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015047-1722527876434-108015047-1722527728357-gettyimages-2159383304-jr029159_ghjrzhsy-300x150.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015047-1722527876434-108015047-1722527728357-gettyimages-2159383304-jr029159_ghjrzhsy-820x410.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015047-1722527876434-108015047-1722527728357-gettyimages-2159383304-jr029159_ghjrzhsy-160x80.jpg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108015047-1722527876434-108015047-1722527728357-gettyimages-2159383304-jr029159_ghjrzhsy-768x384.jpg 768w" sizes="auto, (max-width: 884px) 100vw, 884px" /><figcaption class="wp-element-caption">Photo: via CNBC</figcaption></figure>



Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, fueling fears of a broader economic slowdown, the Labor Department reported Friday.



Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly revised 179,000 in June and below the Dow Jones estimate for 185,000. The unemployment rate edged higher to 4.3%, its highest since October 2021.



Average hourly earnings, a closely watched inflation barometer, increased 0.2% for the month and 3.6% from a year ago. Both figures were below respective forecasts for 0.3% and 3.7%.



Stock market futures added to losses following the report while Treasury yields plunged.



The labor market had been a pillar of economic strength but has recently shown some trouble signs, and the July payrolls increase was well below the average of 215,000 over the past 12 months.



“Temperatures might be hot around the country, but there’s no summer heatwave for the job market,” said Becky Frankiewicz, president of the ManpowerGroup employment agency. “With across-the-board cooling, we have lost most of the gains we saw from the first quarter of the year.”



From a sector standpoint, health care again led in job creation, adding 55,000 to payrolls. Other notable gainers included construction (25,000), government (17,000), and transportation and warehousing (14,000). Leisure and hospitality, another leading gainer over the past few years, added 23,000.



The information services sector posted a loss of 20,000.



While the survey of establishments used for the headline payrolls number was discouraging, the household survey was even more so, with growth of just 67,000, while the ranks of the unemployed swelled by 352,000. The participation rate as a share of the working-age population edged higher to 62.7%.



The report adds to mixed signals recently about the economy and with financial markets on edge about how the Federal Reserve will respond.



Though markets on Wednesday cheered indications from the Fed that an interest rate cut could come as soon as September, that quickly turned to trepidation when economic data Thursday showed an unexpected jump in filings for unemployment benefits and a further weakening of the manufacturing sector.



That triggered the worst sell-off of the year on Wall Street and renewed fears that the Fed may be waiting too long to start cutting interest rates.&nbsp;Easing wage gains could help policymakers feel more confident that inflation is progressing back to their 2% goal.



The rise in the unemployment rate brings into play the so-called Sahm Rule, which states that the economy is in recession when the three-month average of the jobless level is half a percentage point higher than the 12-month low. In this case, the unemployment rate was 3.5% in July 2023 before it began its gradual ascent. The three-month unemployment rate average moved up to 4.13%.



“The latest snapshot of the labor market is consistent with a slowdown, not necessarily a recession,” said Jeffrey Roach, chief economist at LPL Financial. “However, early warning signs suggest further weakness.”



Roach pointed out that the ranks of those working part-time for economic reasons jumped to 4.57 million, an increase of 346,000 to the highest level since June 2021.



An alternate measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons surged 0.4 percentage point to 7.8%, the highest since October 2021.



Long-term unemployment also ticked higher. Those reporting being out of work for 27 weeks or more totaled 1.54 million, the most since February 2022.



Wall Street had been bracing for modest gains from the July payrolls report, in part over concerns about growth but also from residual impacts from Hurricane Beryl. The storm badly damaged parts of Texas including the Houston metropolitan area.&nbsp;



Despite some anxiety over the state of economic growth, Fed Chair Jerome Powell on Wednesday expressed confidence about the “solid” economy and said easing inflation data is raising confidence that the central bank can cut soon.&nbsp;



Markets have fully priced in a rate cut of at least a quarter percentage point at each of the three remaining Fed meetings this year. Odds are rising that the Fed even may go beyond traditional quarter point reductions.



“While the labor market has remained remarkably resilient over these past two years of elevated interest rates, it’s important for the Federal Reserve to stay ahead of any further labor market slowing by proceeding with its expected September rate cut,” said Clark Bellin, chief investment officer at Bellwether Wealth.



Correction: The forecast for average hourly earnings was for an increase of 0.3% for the month. An earlier version misstated the percentage.

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U.S. jobs growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%

Why Starbucks Is Struggling

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1203" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FarmerLifeLine_Edit_November06_125-scaled.webp" alt="" class="wp-image-514255" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FarmerLifeLine_Edit_November06_125-scaled.webp 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FarmerLifeLine_Edit_November06_125-300x176.webp 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FarmerLifeLine_Edit_November06_125-820x482.webp 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FarmerLifeLine_Edit_November06_125-153x90.webp 153w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FarmerLifeLine_Edit_November06_125-768x451.webp 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/FarmerLifeLine_Edit_November06_125-1536x902.webp 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">Farmer Marion Nyawira Mburu uses her phone to pay for FarmerLifeline crop pest detection device at her farm in Nairobi, Kenya, on November 6, 2023. Royal Academy of Engineering 2024/Handout via Thomson Reuters Foundation</figcaption></figure>



JOHANNESBURG, Aug 2 (Thomson Reuters Foundation)&nbsp;&#8211;&nbsp;Growing up in rural Nigeria, Adaeze Akpagbula spent her school years baby-sitting her family&#8217;s chicks through the night, adjusting the coal heater, food and water needed to keep the poultry, and the family income, alive.



Despite her best efforts, unpredictable temperatures, humidity and air quality changes led to the deaths of thousands of chicks, a lesson that would propel her to commit her life to making African farms more climate-resilient.



&#8220;Nigeria&#8217;s unprecedented rainfalls and weather patterns are not predictable, and with heat and cold stresses our birds were dying,&#8221; the 34-year-old agricultural engineer said in a telephone interview with the Thomson Reuters Foundation.



&#8220;We understand that innovation is pivotal to combating climate-related issues around food insecurity,&#8221; she said.



Akpagbula last year launched a remote-sensing device called PenKeep that monitors and controls environmental conditions in poultry farms. She is now extending the technology into aquaculture and greenhouse farms.



Alongside container farms in South Africa cultivating soldier flies for animal feed, solar-powered fish and crop dryers in Tanzania and machine-learning pest detectors in Kenya, Africans are coming up with innovative solutions to overcome the effects of climate change on food production.



Such solutions are going to be needed as Africa, according to a new United Nations report, is the continent most impacted by hunger.



Together with conflict and economic crises, climate shocks are leaving Africa at the epicentre of a hunger crisis, with one in five &#8211; some 300 million people &#8211; short of food.



It is also the continent most vulnerable to climate shocks, while contributing the least to carbon emissions.



&#8220;Current societal inequalities, such as resource constraints, make it even more difficult to source funds to adapt to these changes,&#8221; said Mulako Kabisa, from the Global Change Institute research platform at the University of the Witwatersrand in Johannesburg.



&#8220;Home-grown solutions matter because they take into cognizance the local context &#8230; and what will be sustainable in the long run,&#8221; she said in emailed comments.



<h2 class="wp-block-heading" id="h-sensors-and-solar">SENSORS AND SOLAR</h2>



PenKeep&#8217;s solar-powered device interprets data from sensors that monitor environmental changes including temperature, water levels and air quality in poultry coops. Farmers are alerted of condition changes through SMS, email or an alarm.



It is being used by more than 1,200 chicken farmers in western and northern Nigeria, with more than 100,000 chickens monitored in the company&#8217;s first six months. Subscriptions of around $15 a month make it more affordable for farmers, Akpagbula said.



Users can also use an artificial intelligence (AI) management app called FS Manager that provides farmers with information including management advice, weather updates and book-keeping services.



&#8220;Nigeria has millions of poultry farmers &#8230; but they are not producing enough &#8230; because they are spending so much on energy and they have a lot of poultry mortality as a result of their environment,&#8221; said Akpagbula.



Farmers using PenKeep have seen poultry mortality rates decrease by 72%, Akpagbula said.



In east Africa, Tanzanian Evodius Rutta also utilises the continent&#8217;s abundance of sun through his MAVUNOLAB Solar Dryer that helps subsistence fish processors and farmers rapidly dry out produce including fish, fruits and vegetables, preventing post-harvest food loss.



Small-scale fish processors at Lake Victoria in western Tanzania have begun using his dryer, reducing the drying time of 250 kg of fish from 12 hours to four.



Climate variability has led to erratic rains that can spoil up to 50% of fishermen&#8217;s harvests as they do not have access to cold storage, said Rutta, a sustainability researcher and MAVUNOLAB innovation hub founder.



&#8220;Because of the rains and high tides, it has also become very dangerous for fishermen that go to the sea and the lakes,&#8221; Rutta, told the Thomson Reuters Foundation in a telephone interview.



&#8220;We need low-cost solutions for farmers to adapt to changing climate patterns because it&#8217;s going to be unavoidable,&#8221; Rutta said, adding that he was getting requests from farmers in Zimbabwe, Uganda and Kenya to use his invention.



<h2 class="wp-block-heading" id="h-pest-detection">PEST DETECTION</h2>



Climate change can impact environmental factors such as temperature and humidity that can in turn influence the life cycle and spread of crop pests, according to the U.N.&#8217;s Food and Agriculture Organization.



Pests are already responsible for at least 40% of crop loss worldwide.



Kenyan computer scientist Esther Kimani witnessed this first-hand growing up when pests decimated up to one-third of her family&#8217;s pea, potato and maize crops in the south of Kenya.



By the time the pests were detected, the destruction was so severe that even using pesticides became pointless.



Kimani was inspired to invent the Early Crop Pest and Disease Detection Device &#8211; a solar-powered tool that uses AI and machine learning-enabled cameras to rapidly detect and alert farmers of pests and diseases.



Kimani&#8217;s invention is being used by more than 5,000 farmers across Kenya since its launch in 2020. A group-leasing model reduces the cost to each farmer to $3 per month.



The device also advises farmers about which pesticides to use when, according to predicted climatic changes.



Kimani estimates that more than 3,000 acres of land have been protected from pest infestation by her invention.



She recently won the Royal Academy of Engineering&#8217;s African Prize for Engineering Innovation, for which Akpagbula and Rutta were also short-listed.



<h2 class="wp-block-heading" id="h-climate-crisis">CLIMATE CRISIS</h2>



Some home-grown innovations are also focusing on protecting agricultural output while reducing carbon emissions.



South Africa&#8217;s Philafeed helps build tailor-made black soldier fly container farms. The fly larvae feed on food waste, diverting planet-heating methane emissions from landfills.



The larvae can also be used as a protein feed for livestock, reducing the need for carbon-intensive soya and fish meal.



The larvae manure, a byproduct known as frass, helps increase soil and plant tolerance against drought and flooding, and in turn can increase crop yield in times of climate uncertainty.



&#8220;Through black soldier flies we want farmers to be able to diversify their income if there is a failed season due to climate change,&#8221; said Maya Zaken, Philafeed co-founder.



Philafeed is currently piloting its new container model in Cape Town.



Despite initial funding challenges and struggles to get farmer buy-in, Akpagbula has faith that her innovation, alongside others on the continent, will soon become essential to farmers as climate shocks become more severe and more frequent.



&#8220;People always say why now? Why you doing this now?&#8221; said Akpagbula. &#8220;I tell them it&#8217;s because of the urgency of the climate crisis.&#8221;



(Reporting by Kim Harrisberg in Johannesburg; Editing by Jon Hemming. The Thomson Reuters Foundation is the charitable arm of Thomson Reuters.)

FarmerLifeLine_Edit_November06_125

Solar dry, soldier fly, AI: Africans fight hunger with innovation

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="538" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2ULCJYYHB5OH5O2DRQ44X3IBDI-1-820x538.jpg" alt="" class="wp-image-513847" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2ULCJYYHB5OH5O2DRQ44X3IBDI-1-820x538.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2ULCJYYHB5OH5O2DRQ44X3IBDI-1-300x197.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2ULCJYYHB5OH5O2DRQ44X3IBDI-1-137x90.jpg 137w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2ULCJYYHB5OH5O2DRQ44X3IBDI-1-768x504.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2ULCJYYHB5OH5O2DRQ44X3IBDI-1-1536x1008.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/2ULCJYYHB5OH5O2DRQ44X3IBDI-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">FILE PHOTO: A man counts Ethiopia&#8217;s birr notes in Merkato, one of Africa&#8217;s biggest open air market, in Addis Ababa, Ethiopia, April 25, 2024. REUTERS/Tiksa Negeri/File Photo</figcaption></figure>



ADDIS ABABA, Aug 2 (Reuters)&nbsp;&#8211;&nbsp;Ethiopia will enjoy $4.9 billion in relief from debt repayments when it completes its current restructuring exercise, State Finance Minister Eyob Tekalign said on Friday.



The East African country is putting its long-delayed debt overhaul back on track after securing a new International Monetary Fund financing programme.



&#8220;We will sign and finalise with each individual (creditor) country over the course of the next few months,&#8221; Eyob told Reuters, referring to the savings.



Total external debt stood at $28.38 billion in March this year, data from the finance ministry showed.



Eyob was expounding on remarks made by Prime Minister Abiy Ahmed late on Thursday to explain recent economic reforms to the public via a televised event.



Abiy said the new exercise would include savings of $200 million from the restructuring of its $1 billion Eurobond.



Abiy defended this week&#8217;s switch to a market-determined foreign exchange rate, saying it aimed to close the gap between the official and black market rates and did not amount to a devaluation of the currency.



The central bank allowed the birr to float freely on Monday, fulfilling a key condition for securing financial support from the International Monetary Fund and other creditors, and for putting the nation&#8217;s long-delayed debt restructuring back on track.



The birr has since then lost 31.5% against the dollar, to trade at 83.94 per greenback, the country&#8217;s biggest lender, Commercial Bank of Ethiopia, said on Friday, and some economic analysts and commentators have voiced concern that inflation could surge.



&#8220;Saying Ethiopia has devalued its currency is wrong,&#8221; Abiy said late on Thursday in a televised briefing&nbsp;on the&nbsp;new policy.



&#8220;There were two markets. One is 100 and the other is 50. So when the gap between the two became wide, it brought many dangers. So what we said, (the two) should be unified,&#8221; he said



While lifting foreign exchange trading restrictions helped Ethiopia clinch the IMF deal and funding from other creditors including the World Bank, concern about the policy&#8217;s inflationary impact on low-income households has led at least two local governments to crack down on shops raising prices.



The government and its creditors say the liberalisation will help the private sector make a bigger contribution to the economy and boost long-term growth.



(Reporting by Dawit Endeshaw; Writing by George Obulutsa and Duncan Miriri; Editing by Helen Popper and Giles Elgood)

Ethiopia’s economy struggles due to shortage of foreign currency

Ethiopia to save $4.9 bln from debt restructuring, state minister says

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1366" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-scaled.jpg" alt="" class="wp-image-510212" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/GettyImages-1604532392-820x547.jpg 820w, 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" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><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 2 (Reuters) &#8211; The Ugandan shilling was firmer on Friday, supported by a slowdown in demand for dollars from commercial banks and merchandise importers, traders said.



At 0940 GMT commercial banks quoted the shilling at 3,720/3,730, stronger than Thursday&#8217;s closing rate of 3,730/3,740.



(Reporting by Elias Biryabarema; Editing by George Obulutsa)

Ugandan Economy Following Rate Cut

Ugandan shilling strengthens, low dollar demand helps

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1254" height="836" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling.jpg" alt="" class="wp-image-404443" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling.jpg 1254w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/05/Stock-value-rising-and-falling-768x512.jpg 768w" sizes="auto, (max-width: 1254px) 100vw, 1254px" /><figcaption class="wp-element-caption">Macro view of a screen of trading terminal with abstract financial graph and digits. Trading and forex concept. 3D Rendering</figcaption></figure>



Aug 2 (Reuters) &#8211; Emerging markets stocks slumped on Friday, tracking broader global risk-off sentiment as investors rushed for safe-haven assets amid worries about a U.S. economic slowdown.



MSCI&#8217;s index of emerging market stocks slumped 2.2%, set to clock its worst day in one year if losses hold, while an index of EM currencies was flat.



An initial boost to risk assets following the Federal Reserve&#8217;s meeting on Wednesday quickly gave way to concerns over global growth, after a weak U.S. ISM manufacturing report that followed further signs of economic slowdown in China.



&#8220;When China coughs, the world can catch a cold &#8230; emerging markets would be exposed here if risk sentiment were to sour further,&#8221; said Harry Mills, director at Oku Markets.



Some currencies in emerging Europe fared slightly better against a weaker dollar as investors turned to the safe haven Japanese yen and Swiss franc.



The Czech crown and Hungarian forint were up about 0.1% against the dollar, while the Polish zloty jumped 0.4% after falling in the previous session. The zloty gained 0.3% against the euro.



Both the Turkish lira and Indian rupee touched record lows against the greenback, while the Russian rouble slipped about 0.4%.



Focus now shifts to U.S. nonfarm payrolls data for July later in the day, where forecasts are for employment in the world&#8217;s largest economy to increase by 175,000.



&#8220;Investor confidence in the growth outlook may breathe a sigh of relief today should the payrolls number surprise to the upside, though, it&#8217;s a fight between investor sentiment and safety versus bets on Fed rate cuts,&#8221; Mills said.



Investors also grappled with rising geopolitical tensions, after the Israeli military said on Thursday that the head of Hamas&#8217; military wing, Mohammed Deif, was killed, a day after group leader Ismail Haniyeh was killed in Tehran.



Bourses in Turkey, Prague and Warsaw slumped between 0.7% and 1.7%, following emerging Asian equities that were also broadly lower.



Indexes in Taipei and Seoul led declines as a selloff in U.S. tech stocks and disappointing results from Intel weighed on the tech sector.



MSCI&#8217;s EM stock index was on track to fall for a third straight week, however, the currency index was set to rise about 0.3% in its best week since mid-May.



EM debt-focused funds saw outflows of $0.2 billion over the past week, according to data from Bank of America Global Research, though EM equity funds have seen about $4.5 billion in inflows over the past nine weeks.



Elsewhere, Ethiopia&#8217;s Prime Minister Abiy Ahmed defended the country&#8217;s decision to float its birr currency this week, a move which helped the country secure financing from both the International Monetary Fund and the World Bank.



However, the birr has slumped nearly 40% against the dollar since then.



(Reporting by Lisa Mattackal in Bengaluru; Editing by Conor Humphries)

Risk-off mood hits EM assets ahead of U.S. payrolls data

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="462" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-820x462.jpeg" alt="" class="wp-image-514180" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-820x462.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751.jpeg 929w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">The lights of Frankfurt am Main’s banking skyline glow in the last light of day. Boris Roessler | Picture Alliance | Getty Images</figcaption></figure>



LONDON — European stocks extended losses on Friday amid a global downturn, as weak U.S. economic data sparked fears of a recession.



The regional Stoxx 600 index was down 1.43% at 9:34 a.m. Technology stocks dropped 3.6%, as U.S. giant Intel fell more than 21% in premarket trade after reporting a big earnings miss.



Global markets have been pulled lower by a flurry of central bank action — with the Bank of England cutting interest rates for the first time since 2020, the U.S. Federal Reserve holding rates and the Bank of Japan raising them this week — along with shaky corporate earnings and data releases.



The Stoxx 600 on Thursday suffered its worst session since the middle of June, weighed down by financials as French bank Societe Generale downgraded its outlook, and the BOE voted to reduce rates. Financial services were down another 3.1% Friday.



The Thursday decision took the British central bank’s key interest rate from 5.25% to 5%, following a narrow 5-4 vote among policymakers. Markets had not been fully convinced that the BOE would take the step.



BOE Governor Andrew Bailey told CNBC that the direction for interest rates was “pretty clear,” but he would not comment on the extent or timing of further cuts and said services inflation and wage data would be watched closely. Market pricing suggests expectations for a rate hold in September, followed by another rate trim in November.



U.S. stock markets tumbled on Thursday, as jitters grew around the state of the economy. Weekly initial jobless claims came in higher than expected, while manufacturing data slowed.



More information will be added to the U.S. economic picture on Friday, as the U.S. Bureau of Labor Statistics releases the nonfarm payrolls report, while Europe is quiet on the data front.



Asia-Pacific markets logged steep losses Friday, with Japan’s benchmark indexes tanking as much as 5%.



Cedric Chehab, global head of country risk at BMI, told CNBC’s “Street Signs Asia” that a U.S.-led sell-off started a week and a half ago but escalated in the middle of this week. That was due to factors including the hawkish Bank of Japan imploding the popular yen carry trade in the short term, weak U.S. data and volatility in earnings.



“But one thing people aren’t remembering is that usually between the period of July and October there is a seasonal rise in volatility for equity markets, so this isn’t completely unexpected,” Chehab said.



“Especially after the fact that there was such a large rally in U.S. stocks and global stocks, the fact that earnings came in a bit mixed and valuations are high, but also monetary policy remains very tight in real terms,” he added.

108013392-1722337017522-gettyimages-2021271708-20090101240221-99-73751

European markets lower amid global sell-off; technology, financial stocks tumble

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1366" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-scaled.jpg" alt="" class="wp-image-409717" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/GettyImages-880072092-820x547.jpg 820w, 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" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><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 2 (Reuters) &#8211; Kenya&#8217;s shilling slipped on Friday due to dollar demand from the manufacturing sector, traders said, adding that a credit rating review by S&amp;P Global later this month could be a big driver in the weeks ahead.



At 0805 GMT, commercial banks quoted the shilling at 129.50/130.50 to the U.S. dollar, compared with Thursday&#8217;s closing rate of 129.00/130.00.



S&amp;P Global is scheduled to review Kenya&#8217;s sovereign rating on Aug. 23.



It currently has the East African country&#8217;s long-term foreign and local currency ratings in &#8220;junk&#8221; status, at &#8216;B&#8217; with a negative outlook.



Last month Moody&#8217;s downgraded Kenya&#8217;s local- and foreign-currency long-term ratings deeper into junk, to &#8216;Caa1&#8217; from &#8216;B3&#8217;, citing a diminished capacity to implement fiscal consolidation after President William Ruto withdrew planned tax hikes in response to mass protests.



(Reporting by George Obulutsa; Editing by Alexander Winning)

General Economy As Kenya Faces Bleak 2018 Outlook In Vote Aftermath

Kenyan shilling slips on manufacturing FX demand; S&P review in focus

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2048" height="1312" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YHT7HH5IJBILVOWFFUVVW5TA3U-scaled.jpg" alt="" class="wp-image-514144" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YHT7HH5IJBILVOWFFUVVW5TA3U-scaled.jpg 2048w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YHT7HH5IJBILVOWFFUVVW5TA3U-300x192.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YHT7HH5IJBILVOWFFUVVW5TA3U-820x526.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YHT7HH5IJBILVOWFFUVVW5TA3U-140x90.jpg 140w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YHT7HH5IJBILVOWFFUVVW5TA3U-768x492.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/YHT7HH5IJBILVOWFFUVVW5TA3U-1536x984.jpg 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" /><figcaption class="wp-element-caption">FILE PHOTO: The logo of Italian energy company Eni is seen at a gas station in Rome, Italy September 30, 2018. REUTERS/Alessandro Bianchi</figcaption></figure>



ABIDJAN, Aug 2 (Reuters) &#8211; Ivory Coast&#8217;s council of ministers on Thursday approved the signing of production-sharing agreements with Eni relating to four oil blocks.



Under the deal, a minimum of $80 million will be invested in blocks CI-504, CI-526, CI-706 and CI-708 over an initial three-year exploration period, the council said in a statement.



Eni did not immediately respond to a request for comment.



The world&#8217;s top cocoa-producing nation is hoping to become a major regional oil and gas producer and energy hub and expects oil output to more than triple by 2027, boosted by recent oil and gas discoveries.



Eni, whose presence in the African country dates back to the 1960s with its subsidiary Agip Côte d’Ivoire, started oil production last year at Ivory Coast&#8217;s Baleine field, which has estimated reserves of 2.5 billion barrels of oil and 3.3 trillion cubic feet of natural gas.



(Reporting by Ange Aboa; additional reporting by Sofia Christensen in Dakar; writing by Alessandra Prentice; editing by Jason Neely)

Ivory Coast approves oil production-sharing deals with Eni

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="563" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1824644004-820x563.jpg" alt="" class="wp-image-514141" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1824644004-820x563.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1824644004-300x206.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1824644004-131x90.jpg 131w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1824644004-768x527.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1824644004-1536x1054.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/GettyImages-1824644004-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">DUBAI, UNITED ARAB EMIRATES &#8211; DECEMBER 01: Abiy Ahmed Ali, Prime Minister of Ethiopia, speaks during day one of the high-level segment of the UNFCCC COP28 Climate Conference at Expo City Dubai on December 1, 2023 in Dubai, United Arab Emirates. The COP28, which is running from November 30 through December 12, brings together stakeholders, including international heads of states and other leaders, scientists, environmentalists, indigenous peoples representatives, activists and others to discuss and agree on the implementation of global measures towards mitigating the effects of climate change.
 (Photo by Sean Gallup/Getty Images)</figcaption></figure>



ADDIS ABABA, Aug 2 (Reuters)&nbsp;&#8211;&nbsp;Ethiopian Prime Minister Abiy Ahmed has defended this week&#8217;s switch to a market-determined foreign exchange rate, saying it aimed to close the gap between the official and black market rates and did not amount to a devaluation of the birr currency.



The central bank allowed the birr to float freely on Monday, fulfilling a key condition to secure financial support from the International Monetary Fund and other creditors, and to put the nation&#8217;s long-delayed debt restructuring back on track.



The birr has since then lost 31.5% against the dollar, to trade at 83.94 per greenback, the country&#8217;s biggest lender, Commercial Bank of Ethiopia, said on Friday, and some economic analysts and commentators have voiced concern that inflation could surge.



&#8220;Saying Ethiopia has devalued its currency is wrong,&#8221; Abiy said late on Thursday in a televised briefing to explain the new policy.



&#8220;There were two markets. One is 100 and the other is 50. So when the gap between the two became wide, it brought many dangers. So what we said (the two) should be unified,&#8221; he said.



While lifting foreign exchange trading restrictions helped Ethiopia clinch the IMF deal and funding from other creditors including the World Bank, concern about the policy&#8217;s inflationary impact on low-income households has led at least two local governments to crack down on shops raising prices.



The government and its creditors say the liberalisation will help the private sector make a bigger contribution to the economy and boost long-term growth.



Hours after floating the currency, Ethiopia got a new financing deal of $3.4 billion from the IMF, a move a senior finance ministry official said would make way for the completion of its debt restructuring in the next three to six months.



Soon after, the World Bank approved $1.5 billion in financing for its first ever budget support lending to Ethiopia. Abiy said the new financing would save $200 million from the restructuring of its $1 billion Eurobond.



(Reporting by Dawit Endeshaw; Writing by George Obulutsa; Editing by Duncan Miriri and Helen Popper)

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Nigeria’s president calls for end to protests against economic hardship

Japan’s Nikkei logs worst day since 1987 Black Monday crash

European markets plunge 2.7% as global volatility deepens; tech stocks shed 4.7%

Crypto selloff wipes out $270 billion in value as bitcoin, ether plunge

Why Walgreens And CVS Are Shutting Down Thousands Of Stores

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Could planes run on hydrogen?

U.S. jobs growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%

Why Starbucks Is Struggling

Solar dry, soldier fly, AI: Africans fight hunger with innovation

Ethiopia to save $4.9 bln from debt restructuring, state minister says

Ugandan shilling strengthens, low dollar demand helps

Risk-off mood hits EM assets ahead of U.S. payrolls data

European markets lower amid global sell-off; technology, financial stocks tumble

Kenyan shilling slips on manufacturing FX demand; S&P review in focus

Ivory Coast approves oil production-sharing deals with Eni

Ethiopia’s PM defends currency float amid inflation concerns

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Nigeria’s president calls for end to protests against economic hardship

Japan’s Nikkei logs worst day since 1987 Black Monday crash

European markets plunge 2.7% as global volatility deepens; tech stocks shed 4.7%

Crypto selloff wipes out $270 billion in value as bitcoin, ether plunge

Why Walgreens And CVS Are Shutting Down Thousands Of Stores

Putin’s Trader: How Russian hackers stole millions from U.S. investors

Could planes run on hydrogen?

U.S. jobs growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%

Why Starbucks Is Struggling

Solar dry, soldier fly, AI: Africans fight hunger with innovation

Ethiopia to save $4.9 bln from debt restructuring, state minister says

Ugandan shilling strengthens, low dollar demand helps

Risk-off mood hits EM assets ahead of U.S. payrolls data

European markets lower amid global sell-off; technology, financial stocks tumble

Kenyan shilling slips on manufacturing FX demand; S&P review in focus

Ivory Coast approves oil production-sharing deals with Eni

Ethiopia’s PM defends currency float amid inflation concerns

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