<h2 class="wp-block-heading" id="h-topline"><a href="https://policies.google.com/privacy" target="_blank" rel="noreferrer noopener"></a>TOPLINE</h2>



A drought in Spain, record-high temperatures and a pause in Turkish exports have driven prices of Spanish olive oil to a record high of $8,900 per ton this month, and there&#8217;s no clear indication as to when they&#8217;ll fall.



Extreme hot weather and persistent drought conditions have dealt a severe blow to olive oil&nbsp;&#8230; [+]ANADOLU AGENCY VIA GETTY IMAGES



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



&#8220;Extremely dry weather in much of the Mediterranean&#8221; has been blamed for the skyrocketing prices of olive oil—up 130% from last year—by the&nbsp;<a href="https://apps.fas.usda.gov/psdonline/circulars/oilseeds.pdf" target="_blank" rel="noreferrer noopener">U.S. Department of Agriculture</a>, which warns the only thing that could bring them down in the coming months would be improved growing conditions.



The Catalonia region of Spain&nbsp;<a href="https://www.euronews.com/green/2023/08/09/we-have-never-seen-it-so-low-spain-introduces-water-restrictions-as-reservoirs-run-dry#:~:text=Drought%20is%20leaving%20reservoirs%20empty&amp;text=Spain%20registered%20the%20driest%20start,Andalusia%20being%20the%20most%20affected." target="_blank" rel="noreferrer noopener">declared</a>&nbsp;a drought emergency in 24 municipalities in August after 30 months of little rain, and the drought has dried up reservoirs, parched olive groves and led to restrictions on water use across the country, per&nbsp;<a href="https://earthobservatory.nasa.gov/images/151366/spain-browned-by-drought" target="_blank" rel="noreferrer noopener">NASA</a>.



The lack of rain has coincided with the nation’s third-hottest summer on record: The Spanish meteorological agency&nbsp;<a href="https://www.aemet.es/en/noticias/2023/09/avance_verano_2023" target="_blank" rel="noreferrer noopener">says</a>&nbsp;four heat waves were recorded this summer, temperatures were 2.3°F (1.3°C) higher than normal on average and meteorologists are predicting a warmer-than-normal autumn.



Italy and Greece, which also grow a significant portion of the world’s olives, have also seen hot, dry seasons, with Italy recording&nbsp;<a href="https://www.forbes.com/sites/anafaguy/2023/08/07/extreme-heat-in-southern-italy-increased-july-death-rate-officials-say/?sh=4ab63d9c2664">temperatures</a>&nbsp;over 40°C (104°F), and Greece, where major tourist attractions&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2023/07/15/europes-dangerous-heat-wave-greece-closes-acropolis-as-warnings-issued-across-italy-spain-and-germany/?sh=7b774c7e39c0">were closed</a>&nbsp;due to the heat, notching temperatures just as high.



Spain, the world’s largest producer and exporter of olive oil, made 50% less oil in its most recent season, CNBC&nbsp;<a href="https://www.cnbc.com/2023/09/19/olive-oil-prices-surge-over-100percent-leading-to-cooking-oil-thefts.html" target="_blank" rel="noreferrer noopener">reported</a>, and prices have been further impacted by Turkey&#8217;s decision&nbsp;<a href="https://apps.fas.usda.gov/psdonline/circulars/oilseeds.pdf" target="_blank" rel="noreferrer noopener">to suspend</a>&nbsp;bulk oil exports until at least November 1 in a move meant to ensure domestic supplies and alleviate price pressure.



Before this August, the previous record price for olive oil was set at $6,242 per ton in 1996, according to the USDA.



Picture shows healthy olives grown using an irrigation system developed by researchers of the&nbsp;&#8230; [+]AFP VIA GETTY IMAGES



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



610,000 tons. That&#8217;s how much olive oil Spain produced in the recent season, compared to a usual yield of 1.3 to 1.5 million tons.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



The global olive oil market was valued at $14.2 billion in 2022 and is projected to grow to $18.4 billion by 2030, Fortune Business Insights&nbsp;<a href="https://www.fortunebusinessinsights.com/industry-reports/olive-oil-market-101455" target="_blank" rel="noreferrer noopener">predicts</a>. Spain manufactures almost half of the world&#8217;s olive oil,&nbsp;<a href="https://www.internationaloliveoil.org/the-world-of-olive-oil/" target="_blank" rel="noreferrer noopener">followed by</a>&nbsp;producers in Italy, Greece, Portugal, Tunisia, Turkey and Morocco. Greeks are the largest olive oil consumer per capita,&nbsp;<a href="https://www.aboutoliveoil.org/olive-oil-production-by-country" target="_blank" rel="noreferrer noopener">according to&nbsp;</a>the North American Olive Oil Association, followed by Spain and Italy. Greeks consume about 20 liters of olive oil per person each year, compared to about 1 liter per American. The size of the United States compared to other nations, however—only about 10.6 million people live in Greece compared to 331 million in the U.S.—makes the nation a major consumer: The&nbsp;<a href="https://apps.fas.usda.gov/psdonline/circulars/oilseeds.pdf" target="_blank" rel="noreferrer noopener">USDA</a>&nbsp;said American imports usually make up about 30% of the global olive oil trade, and that number is expected to rise to between 35% and 37% this year.



<h2 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h2>



A theft of about 50,000 liters of extra virgin olive oil left one of the nation&#8217;s family-owned mills, Marin Serrano El Lagar, out about $450,000, local news&nbsp;<a href="https://www.elmundo.es/andalucia/2023/08/31/64f0462efc6c8312768b459c.html" target="_blank" rel="noreferrer noopener">reported</a>. No arrests have been made in the theft and a spokesperson for the Civil Guard told&nbsp;El Mundo&nbsp;that stealing in bulk, rather than bottles, makes tracking the oil particularly hard. Just two weeks before that, another 6,000 liters of extra virgin olive oil—$53,500 worth—<a href="https://www.elmundo.es/andalucia/2023/08/23/64e5e1bdfc6c8303668b4591.html" target="_blank" rel="noreferrer noopener">was stolen</a>&nbsp;from the Terraverne oil mill.



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



Olive oil isn&#8217;t the only commodity to have seen cost jumps this summer,&nbsp;Business Insider&nbsp;<a href="https://markets.businessinsider.com/news/commodities/foodflation-cocoa-surges-12-year-high-orange-juice-hit-record-2023-7?_gl=1*1147odj*_ga*MTgyMjM0ODk0OC4xNjg2NzU2MDU1*_ga_E21CV80ZCZ*MTY5NTIxNjY5My4yNS4xLjE2OTUyMTY4OTIuMjMuMC4w" target="_blank" rel="noreferrer noopener">reported</a>. Cocoa, orange juice, wheat and soybeans all surged this summer as heavy rainfall and disease impacted West Africa&#8217;s cocoa supply, a crop disease hit citrus plants in Florida and Brazil and Russia pulled out of the deal allowing the export of grain from Ukraine. Soybean prices&nbsp;<a href="https://www.reuters.com/article/global-grains-idAFL1N38128J" target="_blank" rel="noreferrer noopener">also soared</a>&nbsp;this summer after the USDA reported much lower-than-expected soy plantings.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/maryroeloffs/2023/08/23/india-to-ban-sugar-exports-in-addition-to-rice-as-corn-soybeans-and-more-crops-falter-in-extreme-heat-and-drought/?sh=56d252986d6c">India To Ban Sugar Exports In Addition To Rice—As Corn, Soybeans And More Crops Falter In Extreme Heat And Drought</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/maryroeloffs/2023/08/21/out-with-shrimp-in-with-jellyfish-seafood-industry-facing-potential-overhaul-due-to-climate-change/?sh=2c38609723bb">Out With Shrimp, In With Jellyfish? Seafood Industry Facing Potential Overhaul Due To Climate Change</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/chloesorvino/2022/06/26/heres-the-latest-data-on-climate-and-food-and-its-not-good/?sh=1229c7592e52">Here’s The Latest Data On Climate And Food And It’s Not Good</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/chloesorvino/2022/09/02/us-farmers-struggle-through-drought-to-bring-food-to-the-table-but-face-more-challenges-ahead/?sh=7119cadcfc08">U.S. Farmers Struggle Through Drought To Bring Food To The Table But Face More Challenges Ahead</a> (Forbes)

Oil pump with candle stick graph chart in the background. World Oil Industry

Olive Oil Prices Jump 50%—And Climate Change Might Be Why

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



The Food and Drug Administration&nbsp;<a href="https://www.fda.gov/news-events/press-announcements/fda-takes-action-updated-mrna-covid-19-vaccines-better-protect-against-currently-circulating" target="_blank" rel="noreferrer noopener">gave its approval</a>&nbsp;for emergency use Monday to new updated Covid-19 vaccines from Pfizer-BioNTech and Moderna that are specially designed to protect against the latest dominant strain of the coronavirus, Omicron variant XBB.1.5—the latest effort of drugmakers, regulators and doctors to keep up with the virus’ ever evolving nature.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



Anyone 5 or older is eligible to receive a single booster dose of the newly updated vaccines regardless of how many shots they’ve received before, as long as it’s at least 2 months since the last dose they received of any Covid-19 vaccine, the FDA announced.



Children between the ages of six months and four years are eligible to receive one or two doses of the new vaccines if they’ve been vaccinated against Covid-19 before, but if they’ve never received a vaccine, they’re eligible to receive three doses of the new Pfizer-BioNTech shot or two doses of Moderna, the FDA said.



This comes after the new XBB lineage of coronavirus, a group of new variants that emerged in late 2022, became the most common strain.



After the emergence of this new lineage, the FDA encouraged Pfizer-BioNTech, Moderna and Novavax to create new vaccines specialized to defend against it.



These will be the first Covid-19 vaccines that aren’t free and paid for by the U.S. government, with&nbsp;<a href="https://apnews.com/article/science-health-business-covid-medicare-1a5d65356ebc7b5bc76524ae99deb55e" target="_blank" rel="noreferrer noopener">Pfizer</a>&nbsp;and&nbsp;<a href="https://www.reuters.com/business/healthcare-pharmaceuticals/moderna-expects-price-its-covid-vaccine-about-130-us-2023-03-20/" target="_blank" rel="noreferrer noopener">Moderna</a>&nbsp;both estimating their shots will cost between $110 and $130 per dose, though many health insurances plans will cover it and the&nbsp;<a href="https://www.cdc.gov/vaccines/programs/bridge/index.html" target="_blank" rel="noreferrer noopener">CDC’s Bridge Program</a>&nbsp;will pay for some uninsured Americans’ vaccines.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



Drugmakers have released a number of new iterations after the first Covid-19 vaccines were administered in late 2020. In fall 2021, the first booster shots were authorized by the FDA and were meant to help replenish waning immunity to the virus months after people received their initial doses. Then, after a new variant of the virus called Omicron, which was more resistant to the original vaccines, sparked a vicious new wave of the pandemic, drugmakers released a modified “bivalent” booster shot in fall 2022. That vaccine was designed to protect against both the original virus as well as Omicron. This new booster will attempt to do what that bivalent booster did with Omicron, but with the new XBB strains.



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<h2 class="wp-block-heading" id="h-what-to-watch-for">WHAT TO WATCH FOR</h2>



Now that the FDA has approved the drugs, the Centers for Disease Control and Prevention is&nbsp;<a href="https://www.federalregister.gov/documents/2023/08/25/2023-18288/advisory-committee-on-immunization-practices" target="_blank" rel="noreferrer noopener">scheduled to meet</a>&nbsp;on Tuesday to decide whether it will recommend people receive the new booster shots, an additional standard regulatory step that each of the previous iterations of the vaccines have had to complete. People won’t be able to receive the new vaccines until the CDC gives its signoff.



<h2 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h2>



While Pfizer-BioNTech and Moderna’s new vaccines were approved on Monday, the FDA still hasn’t approved Novavax’s. The company, which was a late entry into the Covid-19 vaccine market, had its&nbsp;<a href="https://www.yalemedicine.org/news/covid-19-vaccine-comparison#:~:text=Status%3A%20The%20vaccine%20was%20authorized,it%3A%20People%2012%20and%20older." target="_blank" rel="noreferrer noopener">first vaccines approved</a>&nbsp;in July 2022. Its vaccines, unlike Pfizer-BioNTech and Moderna’s do not use mRNA technology, but rather are subunit vaccines that use a piece of the virus to invigorate a body’s immune response. The company said in an email Monday its vaccines have already arrived in the U.S. and, despite not being approved alongside Pfizer-BioNTech and Moderna’s, are still awaiting FDA approval. The company reiterated that its vaccines will be widely available across the country, but “timing is ultimately at the discretion of the FDA.” By 2:45 p.m. Eastern Time, Novavax’s stock price had fallen 10% to around $8 a share. Neither Pfizer nor Moderna’s stock moved significantly. Both fell less than 1.5%.



<h2 class="wp-block-heading" id="h-news-peg">NEWS PEG</h2>



This comes as Covid-19 hospitalizations begin to rise across the U.S. In the week ending August 27, the most recent data available, hospital admissions for Covid-19 were up 15.7%, according to&nbsp;<a href="https://covid.cdc.gov/covid-data-tracker/#maps_new-admissions-rate-county" target="_blank" rel="noreferrer noopener">the CDC</a>. That’s 17,418 hospital admissions during that week, and while that is still a far cry from the peak in January 2022, when there were around 150,000 hospitalizations a week, doctors believe it signals that a new wave could be coming in the fall.



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



These new vaccines follow doctors’ long held predictions that Covid-19 vaccines will likely become similar to the influenza vaccine, where a new iteration is released annually to keep up with new strains of the virus. At a September 2022 White House briefing, Anthony Fauci, former director of the National Institute of Allergy and Infectious Diseases and the leader of the federal government’s response to the pandemic, said: “We likely are moving towards a path with a vaccination cadence similar to that of the annual influenza vaccine, with annual updated Covid-19 shots matched to the currently circulating strains for most of the population.”



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/ariannajohnson/2023/09/01/its-ok-to-get-your-covid-flu-and-rsv-shots-at-the-same-time-experts-say/?sh=7a857a4c3099">It’s Okay To Get Your Covid, Flu And RSV Shots At The Same Time, Experts Say</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/roberthart/2023/09/06/modernas-updated-covid-vaccine-is-effective-against-pirola-variant-as-concern-over-new-strain-grows/?sh=18b82c3a1a06">Moderna’s Updated Covid Vaccine Is Effective Against Pirola Variant—As Concern Over New Strain Grows</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/ariannajohnson/2023/09/06/fda-may-approve-new-covid-boosters-by-friday-as-deaths-spike-report-says/?sh=5bc3a51b54f2">FDA May Approve New Covid Boosters By Friday As Deaths Spike, Report Says</a> (Forbes)<a href="https://www.forbes.com/sites/willskipworth/"></a>

Injection of the third dose of the covid 19 vaccine at a Covid-19 vaccination center in Dinan, Brittany

FDA Approves New Covid Vaccines To Target Latest Strains

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



At least 2,000 people were killed by a magnitude 6.8 earthquake in Morocco—the country’s deadliest in 60 years—that toppled buildings and caused widespread damage southeast of Marrakesh, officials in Morocco confirmed Saturday night, as the region deals with a magnitude 3.9 aftershock.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



The Royal Moroccan Armed Forces&nbsp;<a href="https://twitter.com/MoroccanArmed/status/1700623019687731643" target="_blank" rel="noreferrer noopener">confirmed</a>&nbsp;at least 2,012 people were confirmed dead and 2,059 are believed to be injured—more than 1,400 are critically injured.



The same area hit by Friday’s quake suffered a magnitude 3.9 aftershock on Sunday amid rescue and repair efforts, according to the&nbsp;<a href="https://earthquake.usgs.gov/earthquakes/eventpage/us7000kus7/executive" target="_blank" rel="noreferrer noopener">U.S. Geological Survey</a>, but the Associated Press&nbsp;<a href="https://apnews.com/article/morocco-powerful-earthquake-marrakech-a927c7d286bf6e1047feb1c91ab96fd1" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;it isn’t clear if that quake caused more damage or casualties.



Sunday’s aftershock was the second, as the U.S. Geological Survey&nbsp;<a href="https://www.usgs.gov/news/featured-story/major-earthquake-strikes-oukaimedene-morocco" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;the first major magnitude 4.9 aftershock 20 minutes after the original shock.



The earthquake’s epicenter occurred in the village of Iguil, near the popular Oukaimeden ski resort where strong earthquakes are “uncommon but not unexpected,” and around 50 miles from Marrakesh,&nbsp;<a href="https://earthquake.usgs.gov/earthquakes/eventpage/us7000kufc/executive" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the U.S. Geological Survey; earthquakes of this magnitude are more common near the northern part of Morocco.



The High Atlas Mountains, which are not densely populated, have experienced earthquakes in the past but the region has not seen an earthquake the size of the Friday’s since at least 1900, according to the U.S. Geological Survey.



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<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



300,000. That’s how many people the World Health Organization&nbsp;<a href="https://twitter.com/WHOEMRO/status/1700424387587883372" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;were impacted by Friday night’s quake. The organization added its teams are “on standby” to provide support and “ensure health services are quickly delivered where needed, including for trauma care.”



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



The Moroccan army has been conducting search and rescue missions since the quake, and officials are working to provide food, water and shelter to those who were impacted, but the Associated Press&nbsp;<a href="https://apnews.com/article/morocco-powerful-earthquake-marrakech-a927c7d286bf6e1047feb1c91ab96fd1" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;some Moroccans were complaining on social networks that the government wasn’t providing as much help as it could. Shortly after the quake, President Joe Biden released a&nbsp;<a href="https://eg.usembassy.gov/statement-from-president-joe-biden-on-the-earthquake-in-morocco/" target="_blank" rel="noreferrer noopener">statement</a>&nbsp;saying the administration had been in contact with Moroccan officials and that they are “working expeditiously to ensure American citizens in Morocco are safe, and stand ready to provide any necessary assistance for the Moroccan people.” So far, Spain has sent resources to Morocco, and France has offered assistance in search and rescue teams, NBC News&nbsp;<a href="http://nbcnews.com/news/world/live-blog/morocco-earthquake-live-updates-rcna104254" target="_blank" rel="noreferrer noopener">reported</a>.



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



The deadly earthquake in Morocco was likely the result of oblique reverse faulting, and as more information is available the U.S. Geological Survey expects it will be able to determine the causative fault.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.nbcnews.com/news/world/live-blog/morocco-earthquake-live-updates-rcna104254" target="_blank" rel="noreferrer noopener">NBC NEWSMorocco earthquake live updates: More than 2,000 dead</a><a href="https://apnews.com/article/morocco-powerful-earthquake-marrakech-a927c7d286bf6e1047feb1c91ab96fd1" target="_blank" rel="noreferrer noopener">AP NEWSA magnitude 3.9 aftershock rattles Morocco as rescuers seek survivors in ancient cities and towns</a><a href="https://www.forbes.com/sites/brianbushard/2023/09/09/at-least-1300-dead-from-morocco-earthquake/" target="_blank" rel="noreferrer noopener">MORE FROM FORBESAt Least 1,300 Dead From Morocco Earthquake (Updated)By Brian Bushard</a><a href="https://www.forbes.com/sites/brianbushard/2023/09/09/photos-moroccos-devastating-earthquake-its-biggest-in-120-years/" target="_blank" rel="noreferrer noopener">MORE FROM FORBESPhotos: Morocco&#8217;s Devastating Earthquake, It&#8217;s Biggest In 120 YearsBy Brian Bushard</a>

Aftermath Of Earthquake In Marrakech

Morocco Earthquake Death Toll Rises To 2,000 As Aftershocks Hit Same Areas

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



Google plans to require verified election advertisers to make “clear and conspicuous” disclosures when their advertisements contain AI-generated content, according to a&nbsp;<a href="https://support.google.com/adspolicy/answer/13755910?hl=en&amp;ref_topic=29265" target="_blank" rel="noreferrer noopener">blog post</a>&nbsp;from the tech giant, which will institute the changes as artificial intelligence becomes more commonplace in the leadup to the 2024 presidential election.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



The update to Google’s political content policy will arrive in mid-November and will require disclosures to be placed in clear locations on images and videos.



Audio content is included in the disclosure requirements, though AI generated content “inconsequential to the claims made in the ad,” such as color corrections, image resizing and cropping, are exempt.



Videos uploaded to YouTube that aren’t paid advertising are also exempt, even if the content is uploaded by political campaigns.



Election advertisers who want to run election ads through Google are already required to go through a&nbsp;<a href="https://support.google.com/adspolicy/troubleshooter/9973345" target="_blank" rel="noreferrer noopener">verification process</a>&nbsp;requiring basic information from applicants.



A mix of human and tech tools will be used to enforce the disclosure requirements.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



Google is one of several tech companies that has faced scrutiny over its handling of misinformation. YouTube, which was acquired by Google in 2006, faced backlash after announcing this year it would&nbsp;<a href="https://www.nbcnews.com/tech/tech-news/youtube-will-stop-removing-false-claims-2020-election-fraud-rcna87503" target="_blank" rel="noreferrer noopener">stop taking down content</a>&nbsp;containing false claims about the 2020 presidential election—when former President Donald Trump baselessly claimed voter fraud was rampant in an election he still considers rigged. YouTube said in a blog post it made the decision to protect its “community” and provide “a home for open discussion and debate.” The company was also criticized in 2020 for slowly removing or labeling videos with election misinformation.



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



X, formerly known as Twitter, does not have specific guidelines for AI-generated ad content. Meta, the owner of Instagram and Facebook, does not have similar policies either, though it does have a ban against “<a href="https://about.fb.com/news/2020/01/enforcing-against-manipulated-media/" target="_blank" rel="noreferrer noopener">manipulated media</a>” such as deepfakes—videos that typically use digital alterations to copy someone&#8217;s likeness and convey false information.



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<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.nbcnews.com/tech/tech-news/youtube-will-stop-removing-false-claims-2020-election-fraud-rcna87503" target="_blank" rel="noreferrer noopener">YouTube will stop removing false claims about 2020 election fraud</a>&nbsp;(NBC News)



<a href="https://www.axios.com/2023/09/06/google-ai-election-ads-disclosure" target="_blank" rel="noreferrer noopener">Google to require disclosure for AI in election ads</a> (Axios)

In this photo illustration, a woman holds a smartphone with

Google Will Require Advertisers To Add Disclosures For AI-Generated Election Ads

Kenneth Odoemenam, the founder of KenChu&#8217;s Farm Services, is making an impact in Nigeria’s aquaculture industry by training others in catfish farming.



Kenneth Odoemenam, the founder of KenChu&#8217;s Farm Services, is among the 80% of fish farmers engaged in catfish farming in Nigeria, which is Africa&#8217;s third-largest fish producer, according to data from the World Bank.



With aquaculture production reaching 313,231 metric tons, Nigeria&#8217;s fisheries and aquaculture subsector plays a vital role in the country&#8217;s economy, contributing 5% to its Gross Domestic Product (GDP) and supporting the livelihoods of approximately 24 million people, as reported by the World Trade Organization (WTO).



Driven by the desire to challenge the notion that farming is exclusive to older individuals, Odoemenam embraced catfish farming and turned it into a thriving venture. With continuous learning and a passion for the craft, he steadily improved and scaled up his operations, establishing himself in the industry.



His journey began with an abandoned pond within his family&#8217;s compound in Port Harcourt, the capital and largest city of Rivers State, located in the southern region of Nigeria.



The catfish farmer tells FORBES AFRICA: &#8220;We had a pond constructed on our family compound by a family friend, initially intended for fish farming but left unused. Recognizing the opportunity, I decided to start my catfish farming journey using that very pond.


<div class="wp-block-image">
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&#8220;After completing my first degree in Industrial Chemistry from Abia State University in 2017, I attended an enlightening agribusiness seminar that included specialized training in catfish farming. Eager to dive into this promising venture, I began with small-scale experiments, but initial results were not as I had hoped. Undeterred, I remained determined and committed to learning and seeking guidance from experienced individuals.&#8221;



During the early days, he encountered learning curve challenges in understanding the intricacies of proper management, water quality, feeding schedules, disease prevention, and other essential aspects. He overcame with dedication to learning and seeking guidance which has helped him improve the management of the farm and achieve better results.



He also confronted the capital challenge to scale up operations. &#8220;As a young farmer, securing the necessary finances to invest in infrastructure, equipment, and fish stock can be challenging. Although I have been exploring different avenues, such as applying for grants, to secure the required funding.&#8221;



Leveraging his background in data analysis and a master&#8217;s degree in Environmental Chemistry and Pollution Control, he found innovative ways to integrate technology and sustainable practices into his catfish farming enterprise.



&#8220;I began my catfish farming journey while working as a data analyst. As my catfish farming enterprise grew and flourished, I made the decision to transition into full-time catfish farming. I am now fully dedicated to running and managing my catfish farm. Moreover, leveraging my expertise and experience in the field, I have also taken on the role of training and consulting for other catfish farms, sharing my knowledge and insights to contribute to the success of fellow farmers in the industry,&#8221; says Odoemenam.



KenChu&#8217;s Farm Services focuses on providing comprehensive farm consultancy, training, and farm setup services; offerings which its founder notes are essential to support aspiring aquaculture entrepreneurs, existing fish farmers, and investors seeking to venture into the sector.



His three-year old YouTube channel, Catfish Farm Enterprise, has become a valuable platform for sharing his expertise and knowledge, and it has over 5,700 subscribers and 151 videos.



&#8220;YouTube offers the opportunity to collaborate with other young farmers across Africa, by showcasing the work and achievements of young people in the aquaculture sector. My channel acts as a powerful marketing tool for my catfish farming enterprise. As my channel gains subscribers and viewership, it helps build my brand&#8217;s reputation and recognition within the agriculture and aquaculture community. The exposure gained through YouTube has attracted customers interested in my products and services,&#8221; says Odoemenam.



Through KenChu&#8217;s Farm Services, he has achieved milestones, including training over 100 individuals in catfish farming and providing setup services for more than 20 catfish farms across the country, contributing to the growth of the aquaculture sector and generating employment opportunities.



His ebook, Guide to Successful Catfish Farming, and the development of an automated farm record sheet exemplify his dedication to promoting efficiency and sharing valuable insights with aspiring farmers.



Looking ahead, Odoemenam envisions a bright future for KenChu&#8217;s Farm Services and the aquaculture sector as a whole.



&#8220;The aquaculture sector holds immense promise, particularly in Nigeria, where there is vast untapped potential. At KenChu&#8217;s Farm Services, we will capitalize on this opportunity and make a significant impact in the industry,&#8221; says Odoemenam.



He plans to expand his consultancy and training services to support aspiring aquaculture entrepreneurs and existing fish farmers. By embracing technological advancements, promoting sustainable practices, and focusing on capacity building and research, he aims to play a vital role in driving the growth and development of the aquaculture industry in Nigeria.



Odoemenam remains a beacon of hope and inspiration for young farmers and entrepreneurs. With his unwavering passion and determination, he is proving that the agricultural sector holds immense promise, and young people can actively participate and excel in this rewarding field.

Kenneth Odoemenam; image supplied

The Nigerian Data Analyst-Turned-Catfish Farmer Empowering Entrepreneurs In Aquaculture  

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



With a potential winter and fall surge of the flu, Covid and RSV, some experts recommend getting all three shots at the same time, while limited research shows doing so might cause rare side effects.=



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



It’s “acceptable” to get the new respiratory syncytial virus (RSV) vaccine co-administered with other vaccines, including the flu and Covid vaccines,&nbsp;<a href="https://www.cdc.gov/vaccines/acip/meetings/downloads/slides-2023-06-21-23/07-RSV-Adults-Britton-508.pdf" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the Centers for Disease Control and Prevention.



For the first time, two RSV vaccines have been greenlit by the FDA to protect&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2023/05/03/fda-approves-first-ever-rsv-vaccine-after-brutal-2022-season/?sh=3dd0ac5910b2">older Americans</a>&nbsp;and&nbsp;<a href="https://www.forbes.com/sites/roberthart/2023/08/21/fda-approves-first-rsv-vaccine-for-kids-given-to-pregnant-moms-heres-what-to-know/?sh=75ffd2ab813e">infants</a>&nbsp;against the virus, which are expected to be available this fall, and the agency also approved an&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2023/08/03/first-rsv-vaccine-for-infants-approved-by-cdc-and-fda-other-top-vaccines-and-their-effectiveness/?sh=7a5031872040">antibody shot</a>&nbsp;for infants and toddlers in August.



New monovalent&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2023/08/21/new-covid-boosters-expected-this-fall-why-some-doctors-suggest-holding-off-on-getting-your-next-booster-until-then/?sh=18f37e73438b">Covid boosters</a>&nbsp;to protect against variants of the dominant XBB lineage are being developed by Moderna, Pfizer and Novavax at the request of a Food and Drug Administration panel and also are predicted to be available this fall.



As the fall and winter seasons approach, there are concerns another respiratory virus “tripledemic”—caused by a simultaneous rise in flu, Covid and RSV cases, causing hospitals to become overwhelmed—may happen again this year.



<h2 class="wp-block-heading" id="h-crucial-quote">CRUCIAL QUOTE</h2>



It’s “more probable that we&#8217;ll have a high viral season” this year with people getting Covid, the flu and RSV around the same time, so getting vaccinated is an important preventative step, Sharon Nachman, the chief of the division of pediatric infectious diseases at Stony Brook Children’s Hospital, told&nbsp;Forbes.



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<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



<a href="https://covid.cdc.gov/covid-data-tracker/#variant-proportions" target="_blank" rel="noreferrer noopener">Covid</a>&nbsp;hospitalizations in recent weeks ticked up, increasing by almost 19% between August 13 and August 19, while deaths increased almost 18% between July 8 and August 26, as EG.5, or the Eris variant, made up the majority of cases. Though national&nbsp;<a href="https://www.cdc.gov/surveillance/nrevss/images/trend_images/RSV14Num_Nat.htm" target="_blank" rel="noreferrer noopener">RSV cases</a>&nbsp;have increased slightly since June—they went from 149 cases in the week of June 17 to 423 cases the week of August 26—cases were over four times higher around this time last year.&nbsp;<a href="https://www.cdc.gov/flu/about/season/index.html" target="_blank" rel="noreferrer noopener">Flu cases</a>&nbsp;aren’t witnessing a spike just yet, as flu season is expected to begin in October, but updated vaccines are available for the upcoming season.



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



50,000. That’s how many people in the U.S. died from Covid infection between November 2022 and March 2023,&nbsp;<a href="https://covid.cdc.gov/covid-data-tracker/#maps_deaths-total" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the CDC. The&nbsp;<a href="https://www.cdc.gov/flu/about/burden/preliminary-in-season-estimates.htm" target="_blank" rel="noreferrer noopener">flu</a>&nbsp;accounted for around 58,000 deaths during last year’s tripledemic and&nbsp;<a href="https://www.cdc.gov/rsv/research/rsv-net/dashboard.html" target="_blank" rel="noreferrer noopener">RSV</a>&nbsp;killed 10,000 people—mostly seniors—and caused twice as many hospitalizations than in prepandemic years.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



A good number of patients last year were admitted into Nachman’s hospital with “more than one virus” at a time. So, she recommends those who are eligible to first get their doctors’ approval and then get all three shots in preparation for the upcoming seasons. Other than approving the co-administration of the RSV shot with other vaccines, the CDC also&nbsp;<a href="https://www.cdc.gov/flu/prevent/coadministration.htm" target="_blank" rel="noreferrer noopener">endorses</a>&nbsp;co-administration of the Covid and flu vaccines. Nachman said there’s a “better immune response” when more than one vaccine is administered at the same time. A&nbsp;<a href="https://www.sciencedirect.com/science/article/pii/S0264410X22015687" target="_blank" rel="noreferrer noopener">study</a>&nbsp;published in&nbsp;Elsevier&nbsp;found dual vaccination of Covid and the flu saw a reduced risk of infection than in unvaccinated people.



<h2 class="wp-block-heading" id="h-contra">CONTRA</h2>



Epidemiologist Richard Reithinger told&nbsp;Forbes, “People are a little bit more cautious” about getting the RSV vaccines at the same time as the other two because they were only recently approved by the FDA this year. There is limited evidence on whether the new RSV vaccines negatively interact with the Covid and flu vaccines. However, there were rare instances in a clinical trial where people developed severe side effects after getting the RSV and flu shots at the same time. Two 71-year-old participants developed acute disseminated encephalomyelitis (<a href="https://www.ninds.nih.gov/health-information/disorders/acute-disseminated-encephalomyelitis#:~:text=Acute%20disseminated%20encephalomyelitis%20(ADEM)%20is,helps%20with%20electrical%20nerve%20signaling." target="_blank" rel="noreferrer noopener">ADEM</a>), a neurological disorder that causes widespread swelling in the brain and spinal cord that damages the nerves’ protective coating, according to a&nbsp;<a href="https://www.cdc.gov/mmwr/volumes/72/wr/pdfs/mm7229a4-H.pdf" target="_blank" rel="noreferrer noopener">report</a>&nbsp;by a CDC advisory committee. One of these instances resulted in death. However, researchers aren’t sure if these cases were a result of the vaccines being administered together, or just a coincidence. The study also found that RSV and flu antibodies were slightly lower when administered together, though the “clinical significance is unknown.” If people are unsure about getting all three vaccines at once, it’s okay to “just take the flu vaccine [right now] and then wait for the Covid-19 and RSV” vaccines to be released later this year, according to Reithinger. Although he believes getting all three vaccines at the same time is safe, he ultimately recommends people consult with their doctors on timing.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/ariannajohnson/2023/08/21/new-covid-boosters-expected-this-fall-why-some-doctors-suggest-holding-off-on-getting-your-next-booster-until-then/?sh=18f37e73438b">New Covid Boosters Expected This Fall: Why Some Doctors Suggest Holding Off On Getting Your Next Booster Until Then</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/ariannajohnson/2022/12/20/heres-why-there-is-a-shortage-for-childrens-tylenol-advill-and-motrin-and-what-to-do-about-it/?sh=3a6e33ce28f4">Here’s Why There Is A Shortage For Children&#8217;s Tylenol, Advil And Motrin—And What To Do About It</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/mollybohannon/2023/05/03/fda-approves-first-ever-rsv-vaccine-after-brutal-2022-season/?sh=3dd0ac5910b2">FDA Approves First-Ever RSV Vaccine After Brutal 2022 Season</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/roberthart/2023/08/21/fda-approves-first-rsv-vaccine-for-kids-given-to-pregnant-moms-heres-what-to-know/?sh=75ffd2ab813e">FDA Approves First RSV Vaccine For Kids—Given To Pregnant Moms—Here’s What To Know</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/ariannajohnson/2023/08/03/first-rsv-vaccine-for-infants-approved-by-cdc-and-fda-other-top-vaccines-and-their-effectiveness/?sh=7a5031872040">First RSV Shot For Infants Approved By CDC And FDA: Other Top Shots And Their Effectiveness</a> (Forbes)

It’s Okay To Get Your Covid, Flu And RSV Shots At The Same Time, Experts Say

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



Officials in New York City this week&nbsp;<a href="https://www.dailymail.co.uk/health/article-12471305/NYC-Health-Department-tells-New-Yorkers-MASKING-Labor-Day-good-idea-new-Covid-variants-drive-infection-rates.html" target="_blank" rel="noreferrer noopener">reportedly</a>&nbsp;urged residents to wear masks in public as a new strain of Covid-19 continues to spread throughout the country, while some hospitals and schools have also reimplemented mask mandates, though medical experts say masking requirements might not last long, and might not be necessary for the entire population.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



New York City Health Commissioner Dr. Ashwin Vasan this week warned the virulent Ba.2.86 variant is “likely to evade immunity that has developed from vaccination or prior infection,” while a city health official told the Daily Mail it would be a “good idea” to mask up in crowded indoor places over the holiday weekend.



In Atlanta, Morris Brown College—a historically Black university—implemented a&nbsp;<a href="https://www.fox5atlanta.com/news/morris-brown-college-implements-two-week-covid-19-mask-mandate-as-cases-climb" target="_blank" rel="noreferrer noopener">two-week mask mandate</a>&nbsp;for all students and faculty last week as students move back on campus, also re-imposing social distancing amid “reports of positive cases among students.”



California-based healthcare facility Kaiser Permanente&nbsp;<a href="https://www.pressdemocrat.com/article/news/kaiser-permanente-reinstates-covid-19-mask-mandate-amid-spike-in-cases-but/" target="_blank" rel="noreferrer noopener">reinstated</a>&nbsp;its mask mandate at its facilities in Santa Rosa, California last week “amid an uptick in patients testing positive,” while in New York, a group of hospitals also imposed mask mandates,&nbsp;<a href="https://www.fox4news.com/news/citing-rising-covid-cases-these-us-hospital-systems-have-now-reinstated-mask-mandates" target="_blank" rel="noreferrer noopener">including</a>&nbsp;United Health Services, Auburn Community Hospital and University Hospital in Syracuse, New York.



In Santa Monica, California, Hollywood studio&nbsp;Lionsgate&nbsp;also&nbsp;<a href="https://www.hollywoodreporter.com/movies/movie-news/hollywood-studio-covid-rates-mask-mandates-back-1235571466/" target="_blank" rel="noreferrer noopener">requested</a>&nbsp;employees wear masks in certain parts of its facilities in response to a rise in cases last month.



A mask mandate is also in effect in&nbsp;<a href="https://sf.gov/information/know-when-masks-are-needed#:~:text=There%20are%20no%20longer%20masking,or%20people%20living%20in%20jails." target="_blank" rel="noreferrer noopener">San Francisco</a>&nbsp;for healthcare workers when around patients, as well as for employees at jails.



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<h2 class="wp-block-heading" id="h-contra">CONTRA</h2>



Officials have been torn on mask mandate policies since the start of the pandemic, while studies have found mandates might not be a guaranteed safeguard from community-wide spread. George Washington University Dr. Leana Wen told&nbsp;<a href="https://www.cnn.com/2023/08/31/health/labor-day-coronavirus-increase-wellness/index.html" target="_blank" rel="noreferrer noopener">CNN</a>&nbsp;this week the decision to mask up also depends on an array of factors, including a person’s age and whether they’re at high risk of contracting the virus—she also said children in schools who are at low risk should not be required to mask up. When asked about Labor Day weekend precautions, Wen added people who didn’t cancel their plans last year probably don’t need to cancel them either, despite cases being on the rise.



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



Vaccine boosters from drugmakers Pfizer, Moderna and Novavax are&nbsp;<a href="https://www.forbes.com/sites/ariannajohnson/2023/08/21/new-covid-boosters-expected-this-fall-why-some-doctors-suggest-holding-off-on-getting-your-next-booster-until-then/?sh=6d037a70438b">expected</a>&nbsp;to be ready for use later this month and widely available in October, though they are still pending Food and Drug Administration approval. Those boosters, unlike their predecessors, target newer coronavirus strains, including the Eris strain and other XBB subvariants, adding to Americans’ arsenal to combat Covid, though only 17% of Americans have received the current bivalent booster shot,&nbsp;<a href="https://covid.cdc.gov/covid-data-tracker/#vaccinations_vacc-people-booster-percent-pop5" target="_blank" rel="noreferrer noopener">according to</a>&nbsp;the Centers for Disease Control and Prevention.



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



15,067. That’s the number of Covid hospitalizations in the U.S. over the week ending August 19, an increase of 18.8% from the week before, according to&nbsp;<a href="https://covid.cdc.gov/covid-data-tracker/#maps_new-admissions-rate-county" target="_blank" rel="noreferrer noopener">CDC data</a>. More than 6.27 million people in the U.S. have been hospitalized since the outbreak of the pandemic more than three years ago.



<h2 class="wp-block-heading" id="h-chief-critic">CHIEF CRITIC</h2>



Despite the rise in cases, Republican lawmakers have slammed Covid mask mandates, with Mississippi Gov. Tate Reeves (R)&nbsp;<a href="https://mailchi.mp/5dd152f9c1de/governor-tate-reeves-mask-mandates?e=ae3824fee2" target="_blank" rel="noreferrer noopener">swearing off</a>&nbsp;potential mask orders, saying, “MIssissippians will not and should not submit to fear again.” In a&nbsp;<a href="https://truthsocial.com/@realDonaldTrump/posts/110979968873429026" target="_blank" rel="noreferrer noopener">video</a>&nbsp;posted on his social media platform Truth Social, former President Donald Trump argued mask mandates amounts to “fear mongering,” calling lawmakers “Covid tyrants,” and vowing: “We will not shut down our schools, we will not accept your lockdowns, we will not abide by your mask mandates and we will not tolerate your vaccine mandate.”



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/ariannajohnson/2023/08/21/new-covid-boosters-expected-this-fall-why-some-doctors-suggest-holding-off-on-getting-your-next-booster-until-then/?sh=6d037a70438b">New Covid Boosters Expected This Fall: Why Some Doctors Suggest Holding Off On Getting Your Next Booster Until Then</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/williamhaseltine/2023/08/25/wastewater-analysis-update-on-ba286-in-the-united-states-its-here-be-careful/?sh=6ab2e5353cc0">Wastewater Analysis Update On BA.2.86 In The United States: It’s Here, Be Careful</a> (Forbes)

Business owner setting up face mask required sign in cafe window

Will Covid Mask Mandates Return? Here’s Where They’re Making A Comeback

Johannesburg&#8217;s heartbreak deepens as a heritage building fire claims 74 lives, exposing the urban decay in the CBD. Amid tales of despair and resilience, the tragedy raises urgent questions about illegal building occupations and housing challenges in the city.



Yet another tragedy has struck Johannesburg&#8217;s Central Business District (CBD), revealing the dire state of decay in the area. A fire that broke out in a designated heritage building has turned into a mass casualty event, leaving at least 74 people dead, numerous others injured, and countless individuals homeless.



The fire ignited during the early hours of the morning yesterday and swiftly consumed the lower floors, as reported by residents. In their desperate bid to escape, many people had to leap from the upper floors to avoid the flames. Police forensics personnel at the scene, speaking to FORBES AFRICA, confirmed that some victims had succumbed to impact trauma, while others perished due to burns or smoke inhalation.



One resident, who preferred to remain anonymous, described the harrowing experience: &#8220;It started around midnight, sounding like gunshots. We lived on the ground floor and felt the intense heat. When we fled the building, we saw flames raging above.&#8221;



Firefighters, police, and emergency services swiftly arrived at the scene as the day began, and a crowd of onlookers had gathered to witness yet another tragedy in the inner city, more deadly than the recent gas explosion on Lilian Ngoyi street, also in the CBD.



Robert Mulaudzi, spokesperson for Johannesburg Emergency Services, stated, &#8220;The [victims] were treated for smoke inhalation and various injuries. The building was an informal settlement, heightening the risk of being trapped.&#8221;



As the death toll climbed, from 20 to 45, then 53, and now to 74, anguished cries could be heard from those who had lost loved ones. Dozens of people gathered on nearby streets, beyond the police cordon, carrying clothing, blankets, and essential supplies they had managed to salvage before the fire consumed the building.



A resident from the building across the road recounted, &#8220;Some people were jumping. Everyone was frantically trying to call 10111, the fire brigade, and the police, but it took them about an hour to arrive.&#8221;



The building, located at 80 Albert Street in Marshalltown, was originally the headquarters of Johannesburg&#8217;s Non-European Affairs Department when constructed in 1954. After the apartheid era, it served as Usindiso Ministries&#8217; women&#8217;s shelter and clinic. Later, it became one of the many &#8216;hijacked&#8217; buildings in the inner city, housing some of the most marginalized residents in cramped and unserviced quarters. Deeds office records indicate that the building remains in the possession of the City of Johannesburg.



FORBES AFRICA also visited two buildings across the street from the fire, housing both locals and foreign nationals, with no access to running water or electricity. Most rooms, the size of individual corporate offices, were crowded with three-four occupants, often including children. The situation of the 80 Albert Street building was no different.



The problem of &#8216;hijacking,&#8217; or illegal occupation of buildings for residence, has long plagued Johannesburg&#8217;s CBD. In 2018, then Mayor Herman Mashaba&#8217;s spokesperson reported over 432 hijacked buildings in the city, a number that has likely grown since. Residents of 80 Albert Street, many of whom were foreign nationals, disclosed monthly payments between R1,000 ($53.5) and R2,000 ($107) for their occupancy.



Continual migration to Johannesburg in search of employment, coupled with a housing backlog exceeding 500,000 as of last year, forces many residents and migrants into alternative, often illegal, housing.



One resident interviewed by FORBES AFRICA expressed disbelief, learning that her friend Amanda, just 21 years old, had perished: &#8220;She was a child, and now she&#8217;s gone.&#8221;



While the nationalities of the residents remain largely unknown, many appeared to be of foreign origin, a point that quickly became a focal issue. Operation Dudula attempted to stage a demonstration near the site but was turned away by the police.



Mulaudzi stated: &#8220;The people living there, I don&#8217;t have all the details. Some might be South African citizens, and some might be foreign nationals, but this information is yet to be confirmed. It&#8217;s a mix of residents in that area.&#8221;



In conversations with local residents, some South African nationals alleged that poor safety conditions and the ensuing fire were a result of illegal activities. &#8220;They are selling drugs,&#8221; claimed the same resident who was a friend of the deceased Amanda. &#8220;It&#8217;s everywhere here.&#8221;



Several politicians were present, including Johannesburg Mayor Kabelo Gwamanda and the City&#8217;s MMC for public safety, Dr Mgcini Tshwaku. They spoke out against the incident, framing it as a nationalistic issue, and addressed the problem of building-hijackings within the CBD.



&#8220;As they remove the bodies, it&#8217;s evident that people were trapped. The bodies piled up because people on the first floor tried to escape, but the gate was locked. People were trapped. We need to deal with this issue – buildings are being hijacked,&#8221; Tshwaku emphasized. &#8220;At this time, the city doesn&#8217;t have alternative housing solutions.&#8221;



The death toll is anticipated to rise as emergency services continue their operations. This incident ranks among the deadliest building fires worldwide, highlighting the pressing issues faced in Johannesburg&#8217;s inner city.

31 August 2023 Joburg Fire Forbes (1 of 1)

Johannesburg’s Deadly CBD Blaze: A Heartbreaking Mass Casualty Event Claims 74 Lives

According to MedicineNet, at least 10% of the world’s population is affected by chronic pain. Eight out of those 10 patients are affected by depression, and lower back pain is the most common chronic condition, globally. It’s no wonder that pain clinics are popping up everywhere, some of them being called ‘pill mills’, one-stop shops for the medicine that specialists are becoming cautious of prescribing.



“Are they really clinics? My answer is no,” says Dr Marnin Romm, a specialist interdisciplinary pain management clinician and assistant and associate professor based in Boston, United States (US), but born in South Africa.



“A true pain clinic, by definition, is interdisciplinary.”



For Romm, one of the biggest problems with pain management is the commercial side of the business. “It’s ludicrous. Where’s the sustainability of the practitioner?” he asks. “Pain is more complex than just cracking your back, or going to a physiotherapist and feeling okay for a day or two until the pain comes back with a vengeance and you have to go back. That tells me you’re not managing the patient properly, you’re not doing the right treatment and if you keep doing the same thing day in and day out, where’s the ethics?”



Based on his training, clinical experience and work as an academic, Romm believes that pain management is about self-management.



His goal is to help his patients, many of whom have gone down the Dr Google rabbit hole, to stop relying on healthcare providers – including himself.



“It’s for the greater purpose of the good of the patient,” he explains. “I’m not here to fix them. I’m here to guide and navigate in terms of their self-management to different modalities, different tools, and a mixture of different tools, a mix of pharmacology.”



According to Romm, there has been a shift in terms of understanding the physiological and molecular mechanisms underlying chronic pain. Instead of understanding the pathophysiology underlying chronic pain, healthcare providers use pharmacological agents and invasive interventions.



<div class="wp-block-media-text is-stacked-on-mobile" style="grid-template-columns:33% auto"><figure class="wp-block-media-text__media"><img decoding="async" loading="lazy" width="681" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2023/08/Dr-Marnin-Romm-681x1024.jpeg" alt="" class="wp-image-59398 size-full" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/08/Dr-Marnin-Romm-681x1024.jpeg 681w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Dr-Marnin-Romm-200x300.jpeg 200w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Dr-Marnin-Romm-768x1154.jpeg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Dr-Marnin-Romm-1022x1536.jpeg 1022w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Dr-Marnin-Romm-1363x2048.jpeg 1363w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Dr-Marnin-Romm-scaled.jpeg 1703w" sizes="(max-width: 681px) 100vw, 681px" /></figure><div class="wp-block-media-text__content">
<blockquote class="wp-block-quote">
“IN MEDICAL SCHOOL, THE AVERAGE AMOUNT OF TIME SPENT TRAINING DOCTORS OR PHYSIOTHERAPISTS (OR ANYONE INVOLVED IN PAIN) OVER THE SPAN OF SEVEN YEARS IS FOUR HOURS… FOUR HOURS. FOR A PANDEMIC. SO, YOU’RE SAYING YOU CAN LEARN EVERYTHING YOU NEED TO KNOW ABOUT PAIN MECHANISM IN FOUR HOURS? THAT’S IMPOSSIBLE.”
<cite>—Dr Marnin Romm</cite></blockquote>
</div></div>



“And it’s not their fault. The reason for this is that in medical school, the average amount of time spent training doctors or physiotherapists (or anyone involved in pain) over the span of seven years is four hours,” he says. “Four hours. For a pandemic. So, you’re saying you can learn everything you need to know about pain mechanism in four hours? That’s impossible.”



Romm, who spent two years in London doing a master’s degree in pain neuroscience, says that the reason healthcare practitioners find it difficult to treat chronic pain is because they’re unable to identify what mechanisms are at play.



“In my assessments, I find out what is going on in the body and then target those mechanisms. Whether the treatment is pharmacological, more invasive, or psychological to reduce stress and anxiety or even exercise-based, but one of the biggest problems in pain management now is that’s still not the case,” adds Romm.



<h4 class="wp-block-heading has-text-align-center" id="h-making-money-off-pain">MAKING MONEY OFF PAIN</h4>



There’s no question that opioids are both oversupplied and overprescribed in high-income countries. Patrick Radden Keefe’s 2021 exposé about Purdue Pharma and the opioid epidemic, Empire of Pain, pinpointed the Sackler family’s marketing strategy to generate billions of dollars – which resulted in millions of addicts.



In sub-Saharan Africa, there has been a sharp increase in treatment admission trends for opioids and opioid-related disorders. A BBC investigative documentary called Sweet Sweet Codeine uncovered corruption at major pharmaceutical companies in Nigeria with staff running drug syndicates to meet the high demands of the black market. A few years after banning cough syrup containing codeine, the National Agency for Food and Drug Administration and Control (NAFDAC) reportedly shut down three pharmaceutical firms. Whether used to combat pain or recreationally, the United Nations (UN) put in a report that west, north and central Africa jointly account for 87% of all pharmaceutical opiates seized globally.



Another problem sub-Saharan Africa faces is the use of fake or substandard medications. Drugs are big business which means counterfeits and poorly-made medication benefits the pharmaceutical company that doesn’t know these products are infiltrating their supply chain and the street vendors who knowingly peddle these drugs.



A report from the UN Office on Drugs and Crime showed that 267,000 deaths in Sahel countries (Burkina Faso, Chad, Mali, Mauritania and the Niger) were linked to fake or below-par antimalarial medication. Just under 170,000 deaths have been linked to falsified antibiotics used to treat severe pneumonia in children. Sahel countries rely on imports of medical products due to their own pharmaceutical industries being in the earlier stages of development.



It is believed the counterfeit drugs are imported from pharmaceutical exporters (like Belgium, France, China and India), and diverted from the legal supply chain, or manufactured in neighboring countries.



An alternative to opioids is cannabidiol, or CBD. Different to tetrahydrocannabinol (THC) which also comes from cannabis plants, CBD is non-intoxicating in its pure form. While regulations around the world differ due to the insufficiency of solid evidence to establish its benefit versus the risks, there are many countries that have approved its use for pain. A Forbes Health survey found that 60% of the adults who use CBD in America do so for its pain relief effects. When it comes to cancer pain, Canada has given the thumbs up for CBD and so has the UK to treat the pain that comes with multiple sclerosis stiffness and spasms. In Lesotho, marijuana has become a cash crop as the small landlocked country grows and exports medical cannabis to Europe. In South African President Cyril Ramaphosa’s State of the Nation Address, he said that the legal hemp and cannabis sector has the potential to create over 130,000 new jobs in the country – the pharmaceutical market has been estimated at over R100 billion ($53 million) a year. 



<h3 class="wp-block-heading has-text-align-center" id="h-brain-training-and-tech-to-track-and-treat-pain">BRAIN TRAINING AND TECH TO TRACK AND TREAT PAIN</h3>



There’s more to the business of pain management than drugs, pharmaceuticals and otherwise. Exciting technology such as AI tools to monitor and track pain with big data to non-invasive devices that stimulate nerve fibers are being researched. Telemedicine has also become a big part of chronic pain care as some patients cannot travel to see specialists but still need to consult a doctor.



Another type of technology that’s up-and-coming in the pain space is virtual reality (VR) distraction therapy for pain relief. Dr David Binder, the director of innovation at Spaulding Rehabilitation Hospital in Boston, US, has been studying VR for a number of years. He explains that stimuli can distract the brain from receiving pain signals. In a paper for Harvard Health Publishing, he writes: “We already take advantage of this wiring all the time. For example, if you hit your elbow by accident, and it hurts, you rub the elbow and it feels better. You’re tricking the brain by producing the sensory reaction of touching the elbow, which cancels some pain signals.”



Dr Todd Maddox is part of AppliedVR, a company in Texas in the US that makes prescription VR-based therapeutics for chronic pain management. “One of the ways people learn to deal with chronic pain is with breathing mechanisms – this deals with a part of the brain that learns behavior and the goal is to engage those centers in the brain,” he explains.



Maddox explains chronic pain (and where technology fits in) as something that gets worse over time because the brain gets you into a habit that you cannot break out of. Chronic pain is not only about issues with the tissues as muscles, as one example, usually heal within six to 12 weeks, it’s how your brain processes information.


<div class="wp-block-image">
<figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://cms.forbesafrica.com/wp-content/uploads/2023/08/AppliedVR-1024x576.jpeg" alt="" class="wp-image-59396" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/08/AppliedVR-1024x576.jpeg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/AppliedVR-300x169.jpeg 300w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/AppliedVR-768x432.jpeg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/AppliedVR-1536x864.jpeg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/AppliedVR-2048x1152.jpeg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">AppliedVR makes prescription VR-based therapeutics for chronic pain management</figcaption></figure></div>


“So much of how we approach chronic pain is cognitive… but the behavior centers in the brain don’t listen to the cognitive centers very well,” says Maddox. This is why talking to someone and telling them what to do with chronic pain doesn’t always work – someone may do the exercises recommended by a physiotherapist but they also might not.



“Here’s what VR does: it broadly engages the brain. It engages your sensory and perception centers – the parts of the brain that say you’re there. It engages cognitive centers, emotional centers, you get motivated, excited and are poised for behavior change…” The research behind this non-pharmacologic form of chronic relief is exciting but it’s something that depends on good content which costs money to create. There’s also the fact that at this point, VR for pain isn’t covered by insurance unless you’re in a nursing home in America and on a CareWell plan. The alternative to what a company like AppliedVR offers is a patient buying their own VR headset and downloading a meditation app like TRIPP which combines tried- and-tested relaxation techniques with binaural audio – it just won’t be supervised by a specialist and the content won’t be specifically designed around pain relief.



Smartphones have given rise to numerous apps to track pain and others that take a more multidisciplinary approach, pairing users with a health coach who can create customized care plans. 



One piece of wearable tech that is making the rounds on social media is Healy, an expensive, palm-sized device which delivers mild electrical currents to the wearer. Robyn Gilbert, a mom of two, discovered Healy from a friend. “I have pain from an autoimmune condition and Healy can mitigate it almost completely,” she says. “It has also improved my sleep, my overall energy levels, and my general sense of emotional wellbeing.” While Gilbert doesn’t feel the current – in fact, it is recommended to keep the stimulation levels low so the user doesn’t feel it – she says she felt a mental shift straight away. “People experience profound changes in many different ways, from the cessation of pain to an overall sense of wellbeing on an emotional and mental level,” she adds. Healy was invented by Marcus Schmieke, founder of the Existential Consciousness Research Institute. It isn’t approved by the FDA but that hasn’t stopped over 300,000 people from buying a device.



<h3 class="wp-block-heading has-text-align-center">‘IT’S ALL IN YOUR… GUT?’</h3>



Chronic pain may be common but it’s complex and the idea that it’s all ‘in your head’ is something not every doctor agrees on.



Dr Sarette Zecharia is a clinical psychologist who works with alternative forms of pain management, including traditional Chinese medicine and Ayurveda, and is on the board of the Association for Comprehensive Energy Psychology. “Medication is a quick fix but the issue is that it’s foreign to the body and you end up taking more medication to cover up the side effects,” she says. “What I recently heard is that for each decade you’re in, you have to be on two medications and if 



you’re not, it’s mind-boggling. It’s no longer normal to not be on medication.”



<img decoding="async" loading="lazy" width="20" height="20" src="">Zecharia has seen incredible (and less expensive) results with her pain patients by simply managing diet, using food as fuel. “In modern science, it’s very easy to find the one thing that’s the cause of everything – and medicate. Pain is in every single system, the energetic system, the physical system, the mental system, the emotional system, the spiritual system, and it has to be dealt with on all of those levels,” she adds.



New research from the Massachusetts Institute of Technology has shown that there is a connection between the gut and chronic pain because the bacteria living



in our gut can influence some neurological diseases – when the microbiome is disrupted, the communication between the gut and brain is disrupted. There is also research in the Nature science journal which validates that an out-of-balance microbiome can lead to chronic inflammatory disease. “If you think about all these psychotropic medications that people are given, it disrupts the gut and the gut is where you make the majority of your neurotransmitters. That’s where your mood comes from and that’s why food is so important,” she adds.



“Food is not important to people whose mood is regulated, but the moment your mood isn’t regulated, you start to realize the importance of food.”



The connection between pain, food and diet culture is complicated and can be attributed to various factors, including societal pressure, media influence and individual experiences. Living a ‘healthy lifestyle’ comes at a cost and the diet industry globally is worth billions ($282.53 billion by 2028 per GlobeNewswire), profiting off those who struggle with their relationship with food and body image.



While Zecharia does believe food is fuel and has seen regenerative diets work for those in pain, she says making money off pain is easy because you can charge people a fortune and “keep giving them stuff that’s just knocking them more off their center line”.



Where does the spend stop and relief begin? For those dealing with pain, chronic or acute, finding a quick fix can take a dark turn but as the field expands and researchers across different disciplines collaborate, there is hope. Says Zecharia: “I’m not saying don’t take psychotropic medication if you need it. The problem is when someone gets medication from a healthcare provider who doesn’t really know what they have. And if it doesn’t work, you keep upping the dosage, messing up your gut biome…”

Closeup female hand neatly placing medicament at domestic first aid kit top view. Storage organization in transparent plastic box drug, pill, syringe, bandage. Fast health help safety emergency supply

The Business Of Pain Management: Expert-Speak From Africa

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



Apple on Tuesday announced its next product update event on September 12, where it’s expected to unveil the iPhone 15 and next generation Apple Watch—with rumors and early reporting suggesting new features including a larger screen and a standardized USB-C charger.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



Bloomberg’s Mark Gurman, a longtime Apple reporter who’s revealed numerous product leaks over the years,&nbsp;<a href="https://www.bloomberg.com/news/newsletters/2023-07-30/apple-iphone-15-pro-features-usb-c-port-new-design-thinner-bezels-lkpemg29" target="_blank" rel="noreferrer noopener">reports</a>&nbsp;that Apple designers have long dreamed of creating an iPhone where the screen stretches across the entire face of the device with no borders or cutouts for cameras or sensors.



The iPhone 15, Bloomberg reports, will get them closer to that goal by removing the cutout at the top of the screen that makes space for the camera and facial recognition sensor and putting those two components behind what’s called a “dynamic island,” which uses new technology that allows them to operate from underneath the screen and allows the user to display a number of interactive modules such as quick access to maps or pausing and playing music.



That dynamic island feature has already been implemented in the more expensive pro version of the iPhone 14, but Bloomberg reports that it will become standard on all models of the iPhone 15.



Additionally, the higher end Pro and Pro Max versions of the iPhone 15 will have borders that are .7 millimeters thinner than the current version which have 2.2-millimeter borders, according to Bloomberg.



Additionally, numerous reports including&nbsp;<a href="https://www.bloomberg.com/news/newsletters/2023-07-30/apple-iphone-15-pro-features-usb-c-port-new-design-thinner-bezels-lkpemg29" target="_blank" rel="noreferrer noopener">Bloomberg</a>,&nbsp;<a href="https://www.tomsguide.com/news/iphone-15" target="_blank" rel="noreferrer noopener">Tom’s Guide</a>&nbsp;and&nbsp;<a href="https://www.inc.com/jason-aten/these-5-features-coming-to-iphone-15-could-make-it-biggest-upgrade-in-years.html" target="_blank" rel="noreferrer noopener">Inc.com</a>&nbsp;suggest that the iPhone’s charger might switch from its proprietary lightning cable technology to USB-C, which is a standardized connector used across the tech industry, a move the European Union is mandating, though North American regulators haven’t made any such requirements.



<a href="https://www.inc.com/jason-aten/these-5-features-coming-to-iphone-15-could-make-it-biggest-upgrade-in-years.html" target="_blank" rel="noreferrer noopener">Inc.com</a>&nbsp;is also reporting rumors that the new iPhone could have a camera with a “periscope lens,” which is new technology that uses a series of mirrors to provide a higher-quality optical zoom, and that some versions of the new iPhone 15 might use titanium instead of aluminum.



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<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



The Apple Watch is expected to see more modest updates. Apple reportedly plans to unveil the Series 9 lineup of the Apple Watch which will have faster chips and offer new case colors, according to Bloomberg.



<h2 class="wp-block-heading" id="h-surprising-fact">SURPRISING FACT</h2>



Apple was rumored to have a major change to its side buttons, but that was reportedly canceled after a number of engineering problems. Engineers were reportedly working on new buttons to replace the current volume and power buttons for the higher end versions of the iPhone 15, according to&nbsp;<a href="https://www.bloomberg.com/news/newsletters/2023-07-30/apple-iphone-15-pro-features-usb-c-port-new-design-thinner-bezels-lkpemg29" target="_blank" rel="noreferrer noopener">Bloomberg</a>&nbsp;and&nbsp;<a href="https://twitter.com/mingchikuo/status/1585852274680950784" target="_blank" rel="noreferrer noopener">other sources</a>. The new buttons would’ve used haptic feedback to allow users to feel vibrations and motion in the buttons. However, the mute/ring button will reportedly turn into a so-called “action button,” allowing users to change a number of new settings through it.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



Apple&nbsp;<a href="https://www.apple.com/apple-events/" target="_blank" rel="noreferrer noopener">announced</a>&nbsp;its reveal event online Tuesday. The event is set to take place at 10 a.m. Pacific Time September 12 at Apple’s Steve Jobs Theater in Cupertino, California. It will be streamed online. The event is expected to unveil four models of the iPhone 15: two lower-end versions and two higher-end.&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-08-29/apple-sets-sept-12-date-for-launch-of-iphone-15-new-watches?srnd=premium" target="_blank" rel="noreferrer noopener">Bloomberg</a>&nbsp;is reporting that Apple’s sales have slid for three straight quarters, meaning there’s likely a lot of pressure on Apple to deliver during this presentation. The iPhone makes up 48.5% of the company’s revenue, while wearables like the Apple Watch comprise 10.1%, according to&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-08-29/apple-sets-sept-12-date-for-launch-of-iphone-15-new-watches?srnd=premium" target="_blank" rel="noreferrer noopener">Bloomberg</a>.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.bloomberg.com/news/articles/2023-08-29/apple-sets-sept-12-date-for-launch-of-iphone-15-new-watches?srnd=premium" target="_blank" rel="noreferrer noopener">Apple Sets Sept. 12 Date for Launch of iPhone 15, New Watches</a>&nbsp;(Bloomberg)



<a href="https://www.bloomberg.com/news/newsletters/2023-07-30/apple-iphone-15-pro-features-usb-c-port-new-design-thinner-bezels-lkpemg29" target="_blank" rel="noreferrer noopener">The iPhone 15 Pro Will Have Thinner Bezels in Step Toward Apple’s Dream</a>&nbsp;(Bloomberg)



<a href="https://www.inc.com/jason-aten/these-5-features-coming-to-iphone-15-could-make-it-biggest-upgrade-in-years.html" target="_blank" rel="noreferrer noopener">These 5 Features Expected to Come to the iPhone 15 Could Make It the Biggest Upgrade in Years</a> (Inc.com)

Apple_announce-iphone12pro_10132020

Apple To Unveil New IPhone And Apple Watch In September—Here Are Some New Features To Expect

With Roger Federer following Williams into retirement and Rafael Nadal winding down his career, opportunities abound for young players—on and off the court.



When Holger Rune&nbsp;started watching Rafael Nadal, he was about 7, maybe 8, growing up in Denmark and worshiping the Spanish tennis legend for what Rune calls his “fighting spirit.” Then he started looking up to Roger Federer, for his elegance and his transition game coming to the net.



“If I was going to idolize them, I was trying to idolize them all the way. So I wore the same clothes; I played with the same racket,” Rune tells&nbsp;Forbes, confirming that the mimicry extended to wearing Federer’s signature bandana. “I even tried the one-handed backhand, but luckily my coach told me to stick to your own tennis.”



Rune’s tennis has taken him pretty far—onto practice courts with both Nadal and Federer and into competitive matches against another player he has long admired, world No. 2 Novak Djokovic, whom Rune has actually beaten in two of their three meetings. His game has also sent the 20-year-old skyrocketing to No. 4 in the world rankings, from outside the top 100 at the start of 2022.



And he is not tennis’ only precocious player. A fellow 20-year-old, Carlos Alcaraz of Spain, sits atop the ATP Tour’s rankings while 22-year-old Jannik Sinner of Italy and 24-year-old Casper Ruud from Norway are seen as real contenders to win a Grand Slam, whether at this year’s U.S. Open or going forward.



On the women’s side, Polish phenom Iga Swiatek is No. 1 and owns four major titles at age 22, and American Coco Gauff is a 19-year-old rising star who reached the French Open final last year and won the two biggest tournaments of her career this month.



To be sure, no one—whether tournament organizers or broadcast executives or sponsors—is racing to chase Federer, who retired last year, or Nadal, who has said 2024 will likely be his final season, out of the sport. And while Djokovic is 36 and less than a year younger than Nadal, he continues to play at the highest level, winning titles at this year’s Australian Open and French Open and losing to Alcaraz in a thrilling five-set final at Wimbledon. Still, there is a recognition that tennis tends to go through cycles of talent—just as Pete Sampras and Andre Agassi ruled the era before the Big Three—and there is a growing belief that a new generation is ready to fill the void, on and off the court.



“For sure, it’s not the worst time to be in tennis,” Rune says with a smile.



He and his fellow prodigies have quite the tennis shoes to fill. Djokovic has won a record 23 major singles titles, followed by Nadal with 22 and Federer with 20—no other man has won more than 14 (Sampras). Add it all up, and the Big Three have captured 65 of a possible 80 Slams dating to Federer’s first title at Wimbledon in 2003. Their dominance has been so absolute for so long that tennis pundits speak of a “lost generation,” and the numbers back that up: Players younger than Djokovic have won a combined six Grand Slam titles since Federer exploded on the scene, with four of them coming in the last three years (Dominic Thiem in 2020, Daniil Medvedev in 2021 and Alcaraz in 2022 and 2023).



And while she did not have as much company at the top of the sport, Serena Williams, who like Federer&nbsp;<a href="https://www.forbes.com/sites/brettknight/2022/08/09/serena-williams-tennis-retirement-net-worth-earnings/">announced her retirement</a>&nbsp;last year before backtracking somewhat in subsequent interviews, herself piled up 23 major singles titles, a women’s record for tennis’ Open Era.



The four tennis legends have an equally imposing legacy off the court. A mainstay near the top of&nbsp;Forbes’&nbsp;annual list of the&nbsp;<a href="https://www.forbes.com/lists/athletes/">world’s highest-paid athletes</a>, the 42-year-old Federer is one of&nbsp;<a href="https://www.forbes.com/sites/mattcraig/2022/06/12/billion-dollar-ballers-these-athletes-tiger-woods-lebron-james-federer-messi-ronaldo-mayweather-have-earned-more-than-1-billion-apiece/">just seven athletes</a>&nbsp;with career pre-tax earnings over $1 billion, having cultivated a sponsor portfolio filled nearly top to bottom with premium brands, including Rolex, LVMH and NetJets. “Novak, he tried to be ahead in technology, and Nadal, he just tried to be a little bit different,” Lisa Delpy Neirotti, associate professor of sports management at George Washington University, notes of two players who have crossed $500 million in career earnings. Meanwhile, Williams, who made an estimated $440 million across her career, was a trailblazer among athletes as a&nbsp;<a href="https://www.forbes.com/sites/kurtbadenhausen/2019/06/03/inside-serena-williams-plan-to-ace-venture-investing/">venture investor</a>&nbsp;and a&nbsp;<a href="https://www.forbes.com/sites/kerryadolan/2022/12/08/serena-williams-feels-your-pain/">startup founder</a>, and transcended the sport into mainstream pop culture, appearing in two Super Bowl commercials in 2023 alone.



Alessandro Barel Di Sant Albano, who represents Gauff at Team8 and has worked with Federer, says Williams and the Big Three “have been the GOATs that have taken the traditional TV-watching fan into thinking about athletes as brands. They’re the pioneers that have taken us to a new way of looking at tennis as more of an entertainment platform, and more than just a sport.”



And all of that is setting aside the societal changes of the last 20 years, starting with the rise of social media. The upshot: The players coming of age today are entering a dramatically different, and increasingly global, sponsorship market, with more brands looking to spend more money on tennis than ever before.



The players have already started to take advantage of sponsorship opportunities, with&nbsp;<a href="https://www.forbes.com/sites/brettknight/2023/08/25/the-worlds-highest-paid-tennis-players-2023/">eight of the sport’s ten highest-paid</a>&nbsp;now under 30. Shoe and apparel companies typically come calling first—often by age 13, Delpy Neirotti notes—but other brands have also seen “a unique opportunity to align themselves with someone who can carry the torch,” says Marijn Bal, Ruud’s agent at IMG. “They know that if they get in early, they can get a lot of bang for their buck.”



So what will it take for a young player to reach the heights that Federer did? It starts with winning, which brings more attention from marketers and can also come with a direct payoff because endorsement deals often carry bonuses—sometimes in the seven figures—for climbing up the rankings or winning Grand Slams. For instance, Emma Raducanu raked in $18 million from endorsements and appearances in 2022, after winning the 2021 U.S. Open as a virtual unknown, and Naomi Osaka’s four major titles helped her eclipse Williams’ earnings record for a female athlete with at least $50 million off the court in both 2021 and 2022.



But “you need continued dominance—you can’t be dominant for just a few months, or a couple of years,” adds John Tobias, an agent at GSE Worldwide. “And it’s also about staying healthy in a really physically demanding sport—basically an 11-month-a-year sport that requires an insane amount of travel, an insane amount of dealing with time zones. Then you have to have the right personality and the right, we say,&nbsp;passport—or you come from the right country—and the ability to communicate with people on a global scale.”



Authenticity remains another important factor, which Bal says starts with “don’t endorse Coca-Cola when you’re drinking Pepsi” but extends to aligning with brands that fit the image you’re trying to cultivate for yourself—the way that Federer made himself synonymous with luxury and Nadal cast himself as a rebel.



In addition, “social responsibility and cause marketing are more important now than they ever were before,” says Joe Favorito, a veteran marketing consultant and former executive with the WTA Tour and the U.S. Tennis Association. While the great Arthur Ashe was once questioned for talking about social issues, Osaka’s support for the Black Lives Matter movement and her statements about&nbsp;<a href="https://www.forbes.com/sites/brettknight/2021/06/02/naomi-osaka-is-the-highest-paid-female-athlete-ever-and-her-french-open-exit-may-actually-help-her/">mental health</a>&nbsp;have made her even more valuable for brands, Favorito says.



Even with all of those boxes checked, there is no guarantee anyone will follow Federer to $1 billion in earnings. Players have to be willing to commit to their off-court endeavors, even amid the grind of the tennis schedule—and the teenaged Gauff, for instance, is taking a slow and steady approach as she develops as a player and a person. The 25-year-old Osaka, meanwhile, was once pegged as a perennial champion but has taken an unexpected detour over the last couple of years because of injuries and a recent pregnancy. “The story arc is never that simple because that’s real life,” says Stuart Duguid, who represents Osaka at Evolve, the talent agency they cofounded. “Life happens.”



Still, the number of talented players hitting their primes at once means exciting times ahead for the sport—and, presumably, for their wealth advisors.



“They all push each other, and they’re all friendly with each other,” Bal says. “[Ruud] got to Toronto early—he practiced with Medvedev, with Rune and with Sinner three consecutive days. So these guys are not shy, they’re playing with each other, they’re pushing each other, and it’s great for the sport.”

Western & Southern Open – Day 8

Tennis’ Big 3 And Serena Won 88 Majors And Made $2.5 Billion. A New Generation Is Ready For Their Shot.

Dangote Cement Plc, a prominent player in the cement industry, has reported a profit of N178.6 billion ($234.8 million) in the first half of the year, with a net profit increase of 3.8%. In an exclusive interview with FORBES AFRICA, the Group Managing Director, Arvind Pathak, attributes this to several key factors.



Dangote Cement Plc, a prominent player in the cement industry, has reported a profit of N178.6 billion ($234.8 million) in the first half of the year, with a net profit increase of 3.8% propeled by a host of measures aimed at enhancing profitability.



Dangote Cement Plc operates as a subsidiary of Dangote Industries, a venture established by Aliko Dangote back in 1981, initially rooted in importing commodities like bagged cement, rice, sugar, flour, salt, and fish. The entity now stands as one of the foremost cement companies in sub-Saharan Africa, boasting an annual production capacity of 51.6 million tonnes across 10 nations.



In an exclusive interview with FORBES AFRICA, Dangote Cement Plc&#8217;s Group Managing Director, Arvind Pathak, attributes the performance in the first half of the year to several key factors.



&#8220;The growth in revenue was due to few reasons. Firstly, we delivered double digit volume growth in our pan-Africa business. Secondly, we realized some price increases in line with inflationary realities, especially in some of our pan-Africa operations. Thirdly, there was an improvement in our product and location mix, thereby optimizing our sales for better economic value.&#8221;


<div class="wp-block-image">
<figure class="alignleft size-large is-resized"><img decoding="async" loading="lazy" src="https://cms.forbesafrica.com/wp-content/uploads/2023/08/Arvind-Pathak-Group-MD-of-Dangore-Cement-in-Nigeria-803x1024.jpg" alt="" class="wp-image-59298" style="width:404px;height:515px" width="404" height="515" srcset="https://cms.forbesafrica.com/wp-content/uploads/2023/08/Arvind-Pathak-Group-MD-of-Dangore-Cement-in-Nigeria-803x1024.jpg 803w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Arvind-Pathak-Group-MD-of-Dangore-Cement-in-Nigeria-235x300.jpg 235w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Arvind-Pathak-Group-MD-of-Dangore-Cement-in-Nigeria-768x980.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Arvind-Pathak-Group-MD-of-Dangore-Cement-in-Nigeria-1204x1536.jpg 1204w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Arvind-Pathak-Group-MD-of-Dangore-Cement-in-Nigeria-1605x2048.jpg 1605w, https://cms.forbesafrica.com/wp-content/uploads/2023/08/Arvind-Pathak-Group-MD-of-Dangore-Cement-in-Nigeria-scaled.jpg 2007w" sizes="(max-width: 404px) 100vw, 404px" /><figcaption class="wp-element-caption">Arvind Pathak, Group MD of Dangote Cement in Nigeria</figcaption></figure></div>


He notes maintaining profitability alongside sales surge required diligent attention to operational efficiencies and sustainability.



&#8220;Dangote Cement was able to maintain profitability and sales growth by focusing on operational efficiencies (cost optimization) and customer needs. We continue to build on our robust cost reduction strategy, amid the high operating cost environment. We achieved giant strides in transitioning to cleaner energy, with our cost containment initiative propelling the use of alternative fuel to replace more expensive fossil fuels, such as coal and gas.



&#8220;We also increased the use of Compressed Natural Gas (CNG) for our trucks due to the rising diesel cost environment. These efforts enabled us to enhance our competitiveness while maintaining high levels of quality and customer service,&#8221; says Pathak.



In a fiercely competitive market, Dangote Cement prioritizes customer-centric strategies.



&#8220;We support customers through various measures such as trainings on best practices in cement application, continued customer engagement and truck empowerment scheme, etc. In addition, the National Consumer Promotion &#8216;Bag of Goodies&#8217; is another way we reward our loyal customers and increase customer awareness of our products.&#8221;



Dangote Cement&#8217;s pursuit of growth has led to forays into new markets and regions. The commencement of operations at the Takoradi grinding plant in Ghana expanded the company&#8217;s installed capacity to 52.0Mta. Additionally, the company explored export opportunities, sending Clinker from Congo to Cameroon, Zambia to Zimbabwe, and Nigeria to Ghana, contributing to the growth momentum.



Unveiling profit-boosting measures, Pathak narrates: &#8220;We streamlined our core focus into optimizing the efficiency of our existing assets, increasing output, and containing cost. Under our &#8216;Build Momentum&#8217; program, we initiated various fuel and power efficiency improvement measures.&#8221;



According to Pathak, the company&#8217;s export strategy fortified by foreign currency revenue enabled effective handling of foreign obligations. Also, the diversification of geographic portfolios mitigated isolated risks, while Pan-Africa investments generated robust cash flows, achieving a record earnings before Interest, taxes, depreciation, and amortization (EBITDA) margin of 28%.

Dangote Cement

Dangote Cement Plc’s Profits Surge In The First Half Of The Year Driven By Strategic Innovations And Operational Excellence, Says Group Managing Director

<h2 class="wp-block-heading" id="h-topline">TOPLINE</h2>



New Covid boosters pending approval will only target the coronavirus’ Eris strain and other XBB subvariants, which make up most cases in the U.S., causing some experts to encourage patients to wait for the new shots instead of getting a current bivalent booster.



<h2 class="wp-block-heading" id="h-key-facts">KEY FACTS</h2>



In June, a Food and Drug Administration panel&nbsp;<a href="https://www.fda.gov/media/169591/download?attachment" target="_blank" rel="noreferrer noopener">recommended</a>&nbsp;Pfizer, Moderna and Novavax formulate their new Covid booster shots to be monovalent and only protect against the XBB.1.5 variant and other XBB sublineages—as opposed to the currently available shots, which were designed to combat earlier coronavirus strains.



The companies are still awaiting FDA approval: The new vaccines are estimated to be ready by late September but probably won’t be widely available until October, CBS News&nbsp;<a href="https://www.cbsnews.com/news/covid-vaccine-booster-xbb-variants-september-2023/" target="_blank" rel="noreferrer noopener">reports</a>.



XBB.1.5 (also known as “Kraken”) is a descendent of the omicron variant and was the&nbsp;<a href="https://www.ama-assn.org/delivering-care/public-health/xbb15-omicron-subvariant-questions-patients-may-have" target="_blank" rel="noreferrer noopener">most dominant</a>&nbsp;strain in the U.S. earlier this year, but is now the eighth dominant strain.



The reason the FDA recommended monovalent boosters that protect against one strain is because most of the circulating variants are XBB descendants—as of June, over 95% of the Covid variants in the U.S. were XBB sublineages, the agency said in its report.



<a href="https://www.forbes.com/sites/ariannajohnson/2023/08/10/what-we-know-about-eris-covid-variant-eg5-the-dominant-stain-driving-an-uptick-in-cases/?sh=22a519ab1627">EG.5</a>&nbsp;or “Eris” is an XBB subvariant and the dominant strain in the U.S., accounting for 20.6% of all cases in the U.S. between August 6 and 10,&nbsp;<a href="https://covid.cdc.gov/covid-data-tracker/#variant-proportions" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to the Centers for Disease Control and Prevention.



The second most common variant, FL.1.5.1, made up 13.3% of cases in the country within that same time period and is also an XBB subvariant.



On Thursday, Moderna&nbsp;<a href="https://investors.modernatx.com/news/news-details/2023/Moderna-Clinical-Trial-Data-Confirm-Its-Updated-COVID-19-Vaccine-Generates-Robust-Immune-Response-in-Humans-Against-Widely-Circulating-Variants/default.aspx" target="_blank" rel="noreferrer noopener">said</a>&nbsp;its new Covid vaccine generated a “robust immune response” against Eris and other XBB variants.



A&nbsp;<a href="https://www.nature.com/articles/s41591-023-02228-4" target="_blank" rel="noreferrer noopener">report</a>&nbsp;published in&nbsp;Nature Medicine&nbsp;found that although any available booster offers good protection against Covid, variant-specific shots—like the new monovalent XBB ones awaiting approval—offer about 1.6 times more immunity.



<h2 class="wp-block-heading" id="h-big-number">BIG NUMBER</h2>



676,728,782. That’s how many vaccines have been administered in the U.S. according to CDC&nbsp;<a href="https://covid.cdc.gov/covid-data-tracker/#vaccinations_vacc-people-booster-percent-pop5" target="_blank" rel="noreferrer noopener">data</a>. However, only 17% of the population has received an updated bivalent booster.



<h2 class="wp-block-heading" id="h-key-background">KEY BACKGROUND</h2>



Some experts believe that since the new vaccines expected to release this fall are specifically aimed at targeting XBB variants, Americans should hold off on getting updated boosters until then. Paul Sax, the clinical director of the division of infectious diseases at Brigham and Women’s Hospital,&nbsp;<a href="https://www.nytimes.com/article/covid-booster-fall.html#:~:text=The%20short%20answer%2C%20according%20to,the%20Omicron%20XBB.1.5%20variant" target="_blank" rel="noreferrer noopener">told</a>&nbsp;the&nbsp;New York Times&nbsp;that “waiting makes more sense” for most people looking to get a new vaccine. The current booster is a bivalent shot designed to protect against omicron subvariants BA.4 and BA.5, which were once the dominant strains in the U.S. but now make up less than&nbsp;<a href="https://covid.cdc.gov/covid-data-tracker/#variant-proportions" target="_blank" rel="noreferrer noopener">1%</a>&nbsp;of cases combined. A January&nbsp;<a href="https://www.cdc.gov/mmwr/volumes/72/wr/mm7205e1.htm?s_cid=mm7205e1_w" target="_blank" rel="noreferrer noopener">study</a>&nbsp;conducted by the CDC found the bivalent vaccines were about 50% effective at protecting against XBB and XBB.1.5 in most adults and about a third effective in those 65 years and older. Raina MacIntyre, head of the biosecurity program at the medical research organization the Kirby Institute,&nbsp;<a href="https://www.smh.com.au/national/nsw/four-fifths-of-australian-adults-have-failed-to-get-a-bivalent-booster-here-s-why-that-is-a-problem-20230814-p5dwb5.html#" target="_blank" rel="noreferrer noopener">told</a>&nbsp;the Sydney Morning Herald&nbsp;the available bivalent boosters “do not provide enough protection against EG.5.1, but the XBB subvariant boosters that are being made by most companies will protect against EG.5.1.” Similarly, University of Michigan infectious disease expert Preeti Malani&nbsp;<a href="https://www.npr.org/sections/goatsandsoda/2023/08/11/1193229029/coronavirus-faq-is-it-wiser-to-get-a-booster-now-or-wait-for-the-new-fall-booste" target="_blank" rel="noreferrer noopener">told NPR</a>&nbsp;the updated booster shots “will provide a better match to the currently circulating variants,” so most patients are better off waiting for it to be approved.



<h2 class="wp-block-heading" id="h-contra">CONTRA</h2>



The CDC&nbsp;<a href="https://www.cdc.gov/vaccines/covid-19/clinical-considerations/interim-considerations-us.html" target="_blank" rel="noreferrer noopener">still recommends</a>&nbsp;that most people receive at least one bivalent booster shot. The agency&nbsp;<a href="https://www.forbes.com/sites/madelinehalpert/2022/09/01/cdc-advisory-panel-recommends-new-covid-booster-shots-targeting-omicron-heres-what-you-need-to-know/?sh=e92dc701da8c">first signed off</a>&nbsp;on Pfizer and Moderna’s updated boosters almost a year ago.



<h2 class="wp-block-heading" id="h-tangent">TANGENT</h2>



A new Covid variant called BA.2.86, or “Pirola,” was&nbsp;<a href="https://twitter.com/WHO/status/1692255671687794902" target="_blank" rel="noreferrer noopener">labeled</a>&nbsp;as a variant under monitoring by the World Health Organization on Thursday due to the “large number of mutations it carries.” That same day, the CDC&nbsp;<a href="https://twitter.com/CDCgov/status/1692326710262304890?s=20" target="_blank" rel="noreferrer noopener">said</a>&nbsp;it was monitoring the variant as it’s been reported in the U.S., Israel and Denmark. It is the descendant of omicron subvariant BA.2, which was the&nbsp;<a href="https://www.ama-assn.org/delivering-care/public-health/what-doctors-wish-patients-knew-about-ba2-omicron-subvariant" target="_blank" rel="noreferrer noopener">dominant strain</a>&nbsp;in the U.S. earlier this year, at one point making up 85% of cases in the country. An&nbsp;<a href="https://slides.com/jbloom/new_2nd_gen_ba2_variant?ftag=YHF4eb9d17#/3" target="_blank" rel="noreferrer noopener">analysis</a>&nbsp;by Jesse Bloom, an evolutionary biologist at Fred Hutch Cancer Center, found the variant had 36 additional spike protein mutations than XBB.1.5 and 34 more mutations than BA.2. The number of mutations BA.2.86 has in comparison to other variants makes it “comparable to [the] number of mutations in [the] first Omicron strains relative to” the original Covid strain, according to Bloom. Although its prevalence in the U.S. isn’t large enough to appear on the CDC’s variant tracker—it’s being lumped in with BA.2 cases—there might be concern that the new monovalent vaccines won’t protect against it because it’s not an XBB variant. However, in a report shared with&nbsp;Forbes,&nbsp;Pfizer-BioNTech said evidence shows their new monovalent boosters should offer some protection against BA.2.86.



<h2 class="wp-block-heading" id="h-further-reading">FURTHER READING</h2>



<a href="https://www.forbes.com/sites/ariannajohnson/2023/08/10/what-we-know-about-eris-covid-variant-eg5-the-dominant-stain-driving-an-uptick-in-cases/?sh=22a519ab1627">What We Know About ‘Eris’ Covid Variant EG.5: The Dominant Strain Driving An Uptick In Cases</a>&nbsp;(Forbes)



<a href="https://www.nytimes.com/article/covid-booster-fall.html#:~:text=The%20short%20answer%2C%20according%20to,the%20Omicron%20XBB.1.5%20variant" target="_blank" rel="noreferrer noopener">Don’t Get Your Next Covid Booster Quite Yet</a>&nbsp;(New York Times)



<a href="https://www.forbes.com/sites/ariannajohnson/2023/01/26/covid-vaccines-heres-evidence-they-work-despite-persistent-misinformation-along-with-side-effects-and-common-misconceptions/?sh=2d67186147c3">Covid Vaccines: Here’s Evidence They Work—Despite Persistent Misinformation—Along With Side Effects And Common Misconceptions</a> (Forbes)

A healthcare worker administers the Pfizer-BioNTech (

New Covid Boosters Expected This Fall: Why Some Doctors Suggest Holding Off On Getting Your Next Booster Until Then

The new domestic soccer season gets underway in August and the Mamelodi Sundowns dynasty lives on. Can anyone break their stranglehold on the South African domestic league title? We speak to some of the top coaches.



Mamelodi Sundowns won an unprecedented sixth South African DStv Premiership title in a row in the 2022/23 season as their dominance of the domestic league continues in relentless fashion.



It is not just the fact they have lifted the trophy, but the manner of the victories has been so emphatic that the last three seasons in particular have been a one-horse race from the off.



They finished 13 points clear in 2020/21, and 16 points in front of second place in each of the last two seasons. The remainder of the league simply could not keep up with them.



Looking to the new campaign that starts in August, the question 



now is whether anyone can rise from the chasing pace and dethrone The Brazilians.



The most likely pretenders to the throne are Orlando Pirates, a giant of the local game who last lifted the league trophy in 2011/12 but went toe-to-toe with Sundowns in the second half of last season after a sticky start.



Pirates picked up 35 points in their final 15 games and Sundowns 33, as The Buccaneers’ Spanish coach José Riveiro got to grips with the DStv Premiership and the players at his disposal in his first year in charge.



If they can keep up that level through the 30 games of this coming season, they will have an excellent chance of being crowned champions.



“We have a fantastic group [of players] and resources,” Riveiro tells FORBES AFRICA.



“Emotionally, it’s been a tough fi rst season. It is not easy to do what you love in a different country. For me to be here, the learning process was dificult and things were not easy from the start.



“If we do the same things [next season], we are going to get less [success], so we have to do different things to improve.”



One factor that may hold the Pirates back in the coming campaign is that they will have the considerable distraction of the CAF Champions League.



The same is true for Sundowns, but at this stage the latter perhaps have a squad with more depth that makes them better equipped to juggle domestic and continental matters. Riveiro is confident his side can make an impact in both though.



“We are going into Africa to dream that we have the potential to go all the way. I’m a very optimistic person, so I have the intention to win it.



“We know we will fi nd dificult trips, difficult opponents and dificulties from the referees, but Mamelodi Sundowns did a fantastic job in the competition [last season] and showed that it’s possible for South African teams to compete.”



It will mean bolstering his squad, and just who they manage to sign will be key.



“There’s going to be players coming and going like every season. I hope not too many because it is important to have continuity to build on the things we have done already.”



As for who else could rival Sundowns, the pickings are slim. Kaizer Chiefs continue to falter and went backward in the last campaign, while SuperSport United overachieved but are in a constant cycle of having to sell their best players to balance the books. This transfer window looks no different.



“They’ve set the bar so high, I don’t think anybody is going to catch them in the next few years,” SuperSport United coach Gavin Hunt says, adding other teams simply cannot match Sundowns in the transfer market. 



“Give us the fi ve to six players from Sundowns and we will show you where we can go,” he says ruefully. “We have a salary cap here, that is how we operate. That’s unfortunate, but we will have to find new players, try to build a team that is competitive and try to close the gap.”



Former Chiefs head coach Arthur Zwane, who has since been replaced in the hotseat by Molefi Ntseki but remains an assistant with the team, also doesn’t see Sundowns dropping their level anytime soon, so it is up to the rest of the league to find a way to close that gap. 



“I think it is a challenge for everyone to take our game to another level. For us, we are a work in progress and we are getting better and better,” Zwane said. “It boils down to a lot of things: chemistry, preparation and having a long-term plan. We still have a long way to go. I wouldn’t talk about other teams because I don’t know what their plan is.



But as for us, we are on that journey of trying to revive the glory days.”



For anyone else hoping to win the DStv Premiership this coming season, the only thing that will get them over the line is consistency in performance, because relying on Sundowns to falter looks a pipe dream.

sundowns

Mamelodi Sundowns’ Dominance Of The South African Domestic League Title

Time is money for London-based luxury watchmaker William Adoasi, and he is now using it to support quality education in sub-Saharan Africa.



William Adoasi grew up in one of the roughest council estates in London and for as long as he could remember, wanted to get out. His parents emigrated from Ghana to the United Kingdom (UK) before Adoasi was born and, being the first of seven children, he saw first-hand the chaos that surrounded his estate in Peckham, South London.



A social housing project built by local authorities to provide shelter and other amenities like schools and shops, council estates in the UK have become notorious as breeding grounds for various social problems over the years.



This prompted two former prime ministers, David Cameron and Tony Blair, to advocate for the redevelopment of these estates citing their propensity to entrench poverty as well as create an environment for criminality to thrive, as the core reasons.



To shield Adoasi from the negative elements of the estate, his parents encouraged his education. Adoasi did well enough in school to secure a scholarship and move into a private boarding school in the midlands, and finally, out of the council estate.



“One day a fight broke out in a rugby game between my team and another team and I heard some of my teammates calling the other team ‘council estate scam’, not knowing that I grew up on a council estate myself. It really shaped the way I am in terms of my drive because there is always a part of me that wants to disprove the myth of a council estate boy who does not amount to anything in life,” says Adoasi.



Initially the drive was simply motivated by his need to create a luxury life far away from the tentacles of poverty that always gripped his childhood. His determination to succeed led him to drop out of university to start a sports academy, with which he made a six-figure income by the age of 19.



“I [ran] that for two years until the government pulled the funding, which meant that it wasn’t viable anymore,” says Adoasi.



After that stint, he worked in London as an insurance broker and recruiter. During this time, he went back to school and finished his education and, very soon, began to think outside the confines of his nine-to-five job for a way to make more money.



He was always interested in watches and by the time he was in the city, Adoasi was making enough money to upgrade his taste to the high-end brands, the likes of Patek Philippe and Audemars Piguet. That was when his light bulb moment happened.



“I wanted to find a middle ground of a watch that was super premium and has a high-end aesthetic, made with high-end materials but with a price point that wasn’t wild… I started speaking to multiple factories and haggling prices down between the factories until I perfected my sample batch,” says Adoasi.



At the age of 26, he quit his job and became the founder and lead designer of Vitae London.



“I felt that working in the city was a drain on me and that I had to do something with a bigger purpose where I wake up everyday and my motivation was not just money. Vitae means ‘lives’ in Latin. Our mantra from the get-go was to be the watch brand changing lives,” says Adoasi.



After launching the brand, Vitae London got shortlisted by Richard Branson to receive a startup loan of £20,000



(approximately $25,000 today) out of 10,000 applicants. To date, the brand has raised a total of $190,000 from the likes of US-based venture capital firm, Backstage Capital and, with that, total sales revenue to date is around £1.3 million ($1.6 million).



Adoasi has also kept his promise – 10% of everything the company makes goes back to empower children in sub-Saharan Africa to receive quality education. Through a partnership with charity organization, House of Wells, he has supported over 10,000 children with school uniforms and finance.



Vitae London is also currently stocked in leading US retailers, Macy’s and Nordstrom. The partnership with billionaire mogul Branson also helped attract other celebrities to the brand.



As Adoasi reflects, two things stand out for him.



“Firstly, entrepreneurship is about creating something much bigger than yourself… Secondly, money is a great motivator but if it is the only reason you get out of bed, then you have an unfulfilled life.”<img decoding="async" loading="lazy" width="15" height="14" src="">His next milestone is to be able to go to his parents and tell them they no longer need to work, and from the looks of things, time is on his side

Tag: COVID-19

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