South African COVID-19 variant may affect vaccine efficacy, warn scientists

“The new coronavirus variant linked to a surge in COVID-19 cases in South Africa is not only more infectious than previous forms of the virus but could make some vaccines less effective.”

via Financial Times

Gordon Brown: G20 nations must devise a global plan for growth post-COVID-19

“It would be a historic act of collective statesmanship if G20 countries agreed that the bulk of the new SDR allocations should fund Africa. And if the IMF and the multilateral development banks match the first SDR allocation with funds from their own considerable resources and make good their commitments on debt relief, we have the makings of a $2tn 21st-century Marshall Plan for the developing world.”

via Financial Times

Nigerian economy at risk of ‘unravelling,’ warns World Bank

“The economic impact of the coronavirus pandemic will send personal incomes in Nigeria, Africa’s largest economy, back four decades. If Africa’s biggest oil producer is to avoid a prolonged recession, it will have to enact a series of potentially politically unpopular reforms.”

via Financial Times

COVID-19 is accelerating a quiet technology revolution in Africa

“Nearly half of Africa’s economic growth over the next ten to twenty years will be driven by a group of still relatively unknown tech companies.”

via Financial Times

What HIV taught WHO’s Matshidiso Moeti about COVID-19

“We did a lot of work to prepare precisely because of the worry that our health systems are so fragile, our capacity is so little, we will get devastated by this.”

via Financial Times

Egypt’s banks braced for pandemic impact

“Analysts and bankers say Egyptian lenders, which are generally cash-rich with low loans-to-deposit ratios, may find profits fall and bad loans rise. But they expect banks to remain financially stable.”

via Financial Times

Frozen COVID-19 vaccines can reach developing nations, says DHL

“COVID-19 vaccines that need to be deep frozen during transport can be delivered to developing nations in sub-Saharan Africa, South America and South Asia, according to logistics group DHL. The distributor can serve 85 percent of the destinations requested by companies.”

via Financial Times

Cyril Ramaphosa: Global response is needed to prevent a debt crisis in Africa

“For three decades, Africa has worked strenuously towards a more sustainable future. The world cannot allow short-term debt dynamics to derail its march towards a green, digitally enabled and globally connected future.”

via Financial Times

Tough conditions strain profits at Morocco banks

“Tough conditions are straining profits of Moroccan banks and increasing the risk of bad loans, analysts and bankers say. But they also note that the banks enjoy high levels of liquidity, and that measures by the Banque Al-Maghrib, the central bank, to support the economy and to reduce the adverse effects on lenders are helping shore up resilience.”

via Financial Times

Nigeria slumps back into recession as COVID-19 bites

“Africa’s biggest economy has sunk into its second recession in less than five years, battered by the oil price crash brought on by the coronavirus pandemic.”

via Financial Times