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ELon Musk Earns The Annual Uk Worker’s Gross Salary, £29,600 in Less Than two Minutes

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Elon musk Earns €29,600 In less than two minutes

Elon Musk Earns €29,600;  $ 39,796 In One Minute 47 Seconds

Elon Musk is an entrepreneur and a business tycoon. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI. As of November 2021, Musk is the richest person in the world

The American business tycoon has been confirmed earning $39,796 in every one minute 47 seconds after selectcarleasing.co.uk created a tool that counts his earning in real-time from the second you land on their webpage as a way of finding out how  quickly the Telsa boss acquired his wealth that pads  his massive $286 billion fortune.

According to the website, the average annual gross UK salary is £29,600 and Elon Musk is able to earn this figure in just one minute and 47 seconds.

Furthermore , the calculator says the average annual salary in the US is $51,480 which takes Musk slightly longer – by 28 seconds to earn.

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Ghana Cedi declared worst performing currency worldwide by Bloomberg

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Cedi tagged the worst performing currency worldwide

The latest report by Bloomberg has tagged the Ghana Cedi as the worst performing currency in the world currently.

According to Bloomberg, the Ghana Cedi is currently in tatters, haven depreciated by over GHC2 in the last week, compounding the ever-depreciating currency against major foreign currencies.

The Cedi fell 1.6% on Tuesday, August 16, extending this year’s slump to 35% and making it the world’s worst performer among 150 currencies tracked, after bankrupt Sri Lanka’s rupee,” Bloomberg indicated.

Bloomberg tracked the performance of 150 currencies in the world and the Cedi placed last in terms of performance since the beginning of the year.

In less than 8 months, the Cedi has come under intense exchange rate pressure due to its continuous depreciation to some major international currencies such as the Dollar, Pound and Euro.

According to data put out by the Bank of Ghana, the Cedi began the year at $1.00 to GH¢6.02.

Just a month ago, one could exchange $1.00 for GH¢7.43, and in less than 20 days, traders needed an average of GH¢9.37 to buy $1.00.

This means the Cedi has lost most than GH¢3.30 of its value to the dollar in less done 8 months.

Ghana’s economy is struggling to survive as inflation continues to dictate its fall. The implications of the continuous fall of the Cedi is already being felt by the ordinary Ghanaian.

Ratings from Fitch and S&P also saw the Cedi rating falling further to junk this month.

Following the current woes of the economy, the Central Bank is holding an emergency Monetary Policy Committee (MPC) meeting today. The BoG is expected to “review recent developments in the economy” during the meeting.

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Togo: Cement-Maker Cimtogo Raises Its Prices By 15%

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Cimtogo, a cement company, has upped its delivery costs from its plants in Lomé and Kara to distribution points. The measure became effective on August 1, 2022.

The company attributed the decision to the “recent measures that led to the increase of oil products in the country.” Its commercial directorate added that the price increase will “help ensure the continuity of carriers’ activities in the best conditions.”

It should be noted that Cimtogo’s cement is currently sold at CFA81,000 a ton throughout the country.

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Donkeys Are South Africa’s Latest Hot Export To China

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Chinese demand for traditional medicines has sent poachers hunting for African animals from rhinos to pangolins, now donkeys.

But as in countries from Burkina Faso to Kenya, South Africa is now seeing its donkey population plunge, threatening other businesses that make soaps and creams from donkey milk.

The produce extracted from them can sell for up to $360 per kilogram in China.

According to Jesse Christelis, Co-owner of Donkey Dairy, “In South Africa we have seen a rapid decline of the donkey population due to illegal slaughter to supply the Chinese skin trade. It is believed that in China, if you eat the donkey skin, that’s boiled in a certain way, it has certain health benefits, very similar to what they believe, health benefits that are found in rhino horn.”

Once prized by emperors, a gelatin called ejiao — made from donkey skins — is increasingly sought after by China’s middle class.

The health benefits are believed similar to products derived from rhino horns, from working as a blood thinner to acting as an aphrodisiac, placing it on high demand on the market.

Donkey Dairy farm is a on a mission to salvage poor donkeys that have been placed in areas of misery, a way of fighting against its illicit trade.

The shrinking supply has sent prices soaring. According to Christelis, a donkey would fetch about $30 at auction five years ago. Now they cost about $125 each.

That is still a relative bargain in China where donkey hides that sold for $473 in 2018 now sell for $1,160.

We’ve seen, you know, a rapid increase in price of donkeys as well since the trade of donkey skins hit South Africa, whereas prices were quite low about five years ago, they’ve gone up almost five, sixfold. And often the donkeys that we do find are not in good condition, weight is down, or there is a high parasite load.” added Christelis.

South Africa legally exports about 10,500 donkey hides to China every year, but the real quantity is believed much higher as smugglers have tapped into the trade.

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