Bloomberg

New government: A broad rally in South African markets signaled investor relief after President Cyril Ramaphosa ended weeks of uncertainty by announcing a new cabinet that he said would prioritize economic growth. https://bloom.bg/3RRPKe5 Kenya protests: President William Ruto defended his decision to deploy the military to quell nationwide protests over the past two weeks that have left at least 24 people dead. https://bloom.bg/45JvwsJ Corn exports: Tanzania will sell 650,000 tons of corn to Zambia after El Niño brought a severe dry spell in the neighboring country. https://bloom.bg/4bn6xfL Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday

A Chinatown shophouse mural depicting a Samsui woman with a cigarette in hand ignited a brief but heated debate after some complaints that the woman depicted looked like a prostitute and demands that parts of it be painted over. That and more in our free-to-read Singapore Edition newsletter: https://bloom.bg/4cE5ZDo 📷: Roslan Rahman/AFP via Getty Images

Talks near deal: South Africa is close to concluding discussions on forming a government of national unity, the African National Congress said. The rand rallied. https://bloom.bg/3zmiwNv ZiG tames inflation: Zimbabwe’s monthly consumer prices were unchanged as the nation’s stable bullion-backed currency helped put a lid on inflation. https://bloom.bg/4cEu2lM Reparations: Namibia plans to set up a special purpose vehicle that descendants of victims of a 1904-1908 genocide will manage and control. https://bloom.bg/4eK96vc Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday

EXPLAINED: With a flip of a metaphorical light switch, India has joined the global finance machine. Here's a deep dive on the process, meaning and its impact on markets https://bloom.bg/3xMJBsB

Ruto U-turn: Kenyan President William Ruto conceded to mass street protests and withdrew contentious new taxes. Now, he needs to figure out how to achieve fiscal targets set by the IMF. https://bloom.bg/3W19jmL Coalition negotiations: Talks between South Africa’s two biggest political parties on forming a cabinet stalled after the African National Congress withdrew an offer to appoint a member of the smaller Democratic Alliance as trade and industry minister. https://bloom.bg/3xwLiuh Bad omen: Morocco’s unrelenting dry spell is ushering in record wheat imports and risking fruit and vegetable sales abroad. https://bloom.bg/45K8jXp Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday

The era of big paychecks for Chinese financiers is fast coming to an end, as big firms impose $400,000 pay caps and claw back bonuses https://bloom.bg/3VYO58L 📷: Raul Ariano/Bloomberg

BREAKING: The Supreme Court will allow emergency abortions in Idaho, according to an opinion obtained by Bloomberg Law that appeared briefly online. Read more here: https://trib.al/dqwnckp 📷: Tierney L. Cross/Bloomberg via Getty Images

Nuclear anti-poaching: Beckham, a 1.7-ton rhino named after the English footballer, had a radioactive pellet drilled into his horn as a program to discourage poaching of the endangered animals in South Africa scales up. https://bloom.bg/3zk6uEe Big chicken: Rainbow Chicken, a poultry firm backed by South African billionaire Johann Rupert, rose on its debut on the Johannesburg stock exchange, valuing the company at about $396 million. https://bloom.bg/3zfNp61 Kenya protests: The country’s sovereign dollar bonds are sinking as anti-government protests threaten to derail President William Ruto’s $2.3 billion plan to balance the budget and make the country’s debt sustainable. https://bloom.bg/3VZuoOr Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday

An Indian government investigation found lapses in the corporate governance of Byju’s, but cleared the struggling online-education startup of financial fraud. Read more here: https://bloom.bg/3xomi8x 📷: Dhiraj Singh/Bloomberg

🎙 27 years after Hong Kong was returned to China, we look at how Beijing is remaking the city’s identity and what that means for the future of the finance hub. Listen to the Big Take Asia podcast https://link.podtrac.com/jxfy2rhy