<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="740" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-1213304774-1110x740.jpg" alt="" class="wp-image-395014" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-1213304774-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-1213304774-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-1213304774-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-1213304774-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-1213304774-scaled.jpg 2048w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /><figcaption>Cropped hand wearing a nitrile glove holding a Covid-19 vaccine vial and a syringe</figcaption></figure>



JOHANNESBURG, Jan 15 (Reuters) &#8211; Millions of coronavirus vaccine doses secured by the African Union (AU) will be allocated according to countries&#8217; population size, South African President Cyril Ramaphosa said on Friday.



Ramaphosa, who is the current AU chairman, said on Wednesday that vaccines from Pfizer, Johnson &amp; Johnson and AstraZeneca would be available this year, but he did not specify how much each African country would get.



No African countries have begun large-scale coronavirus vaccination campaigns and the AU&#8217;s 270 million shots, if administered two per person, would still only cover around 10% of the continent&#8217;s 1.3 billion people.



&#8220;The Africa CDC has already worked out the allocations that each country will be able to get, and the allocation is going to be worked on the size of your population,&#8221; Ramaphosa said, referring to the AU&#8217;s Centres for Disease Control and Prevention.



The CDC did not respond to a request for further detail.



LOOKING TO CHINA



Its director John Nkengasong cautioned on Thursday that vaccines would not be a magic bullet for Africa as it would take time for them to be rolled out and a second wave of infections had not yet peaked.



The continent&#8217;s confirmed cases have passed 3.1 million, with more than 76,000 deaths, according to a Reuters tally.



Speaking to South African news website Eyewitness News and 702 radio, Ramaphosa also suggested that the AU would access vaccines from China. &#8220;China will also be part of that, although they will join later,&#8221; he said.



South Africa itself plans to access doses via three sources: the AU arrangement, the COVAX facility co-led by the World Health Organization, and direct deals with manufacturers.



&#8220;We have decided that we should have a multi-supplier process &#8230; we are already getting ready for the distribution (and) the vaccination programme,&#8221; he said.



South Africa has recorded the most coronavirus infections and deaths in Africa, at roughly 1.3 million and 36,000. (Reporting by Alexander Winning; Editing by Andrew Cawthorne)



(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

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African Union vaccines to be allocated according to population

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="624" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-984879432-1110x624.jpg" alt="" class="wp-image-394944" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-984879432-1110x624.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-984879432-300x169.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-984879432-820x461.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-984879432-768x432.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-984879432-1536x864.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/01/GettyImages-984879432-scaled.jpg 2048w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /><figcaption>Lekki-Ikoyi bridge &#8211; stock photo</figcaption></figure>



The African Union (AU)’s High Representative for Infrastructure Development, Raila Odinga has called for the creation of an Africa-wide infrastructure fund to cut a funding gap estimated at as much as $90 billion.



Odinga, a former Kenyan Prime Minister, told African ministers of infrastructure the fund would be a long-term solution to Africa’s continuous underfunding of infrastructure which he estimated at between $60 and $90 billion annually.



“Such a fund would focus on a combination of domestic sources and private sector financiers,” Odinga told the virtual meeting. &nbsp;“We need effective and efficient plans to mobilize resources to fund the identified PIDA (Programme for Infrastructure Development in Africa) projects.’’



PIDA is a continent-wide program to develop a vision, policies, strategies and a programme for the development of priority regional and continental infrastructure in transport, energy, trans-boundary water and Information Communication Technology.&nbsp;&nbsp;



Africa has the fewest road and rail networks of any region in the world because of colonial planning and chronic shortages of funds. The Covid-19 pandemic has exacerbated the underfunding as governments scrambled to protect incomes and source funds to buy vaccines.



The African Union estimates the continent needs $12 billion to buy enough vaccines to cover about 60 percent of its 1.3 billion people.



Egypt’s Minister of Electricity and Renewable Energy Mohamed Shaker El Markabi said the AU was determined move Africa’s infrastructure development agenda forward despite the challenges posed by the ongoing COVID-19 pandemic.



Addressing the same meeting, the AU Infrastructure and Energy Commissioner Abou-Zeid said the post-COVID-19 recovery strategy requires the fast-tracking of Africa’s infrastructure development to improve resilience and improve livelihoods and economies.



&nbsp;“The COVID-19 pandemic also accelerated digitalization, exposed gaps in energy in rural areas and highlighted the need to develop infrastructure that is smart, inclusive and sustainable.”



The African Development Bank’s Infrastructure and Partnerships Division Manager Mike Salawou highlighted the $7 billion the bank has spent on African infrastructure projects in the past ten years to spur economic development.

lekki-ikoyi bridge

AU SAYS AFRICA NEEDS INFRASTRUCTURE FUND TO PUSH DEVELOPMENT

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SOUTH AFRICA’S PRESIDENT RAMAPHOSA SAYS  COVID-19 PANDEMIC IN COUNTRY AT ITS MOST DEVASTATING

JOHANNESBURG, Jan 8 (Reuters) &#8211; South Africa&#8217;s rand firmed on Friday, as investors found some comfort in news that the country has secured COVID-19 vaccines for healthcare workers and that the rollout should start sooner than anticipated after criticism of delays.



At 0712 GMT, the rand was trading at 15.3800 against the dollar, 0.49% firmer from an overnight close of 15.4550.



Health Minister Zweli Mkhize said on Thursday the government would receive 1.5 million doses of AstraZeneca&#8217;s shot from the Serum Institute of India (SII), spread over January and February.



Health workers have voiced concern that the authorities have not acted fast enough to secure enough vaccines.



Analysts at NKC African Economics said the announcement was &#8220;welcoming news&#8221; at a time when COVID-19 cases within the country hit a record 21,832 on Wednesday and over 20,000 in the last 24 hours.



Government bonds were little changed, with the yield on the benchmark 2030 bond up 1 basis point at 8.810%.



In the equities markets, stocks also firmed, with Aspen Pharmacare, which is producing the Johnson &amp; Johnson COVID-19 vaccines in South Africa, leading the rally.



Aspen climbed 3.34% at 0724 GMT after a senior company executive told Reuters on Thursday that the country&#8217;s biggest pharmaceutical firm could start production of the J&amp;J vaccines by late March or early April if all approvals are in place.



The health ministry&#8217;s announcement that negotiations on sourcing a vaccine are at an advanced stage with J&amp;J, also boosted gains at Aspen.



The Johannesburg All-Share index rose 0.76%, while the Top-40 index climbed 0.77% (Reporting by Nqobile Dludla; Editing by Shailesh Kuber)



(c) Copyright Thomson Reuters 2021. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

South Africa’s rand firms as country secures COVID-19 vaccines

How Can We Fix The Massive E-Waste Problem?

JOHANNESBURG, Dec 24 (Reuters) &#8211; A British ban on flights from South Africa over a new variant of the coronavirus in the country has punctured hopes of a rebound in the South African tourism industry in the new year, according to frustrated travel operators.
UK officials ordered flights and arrivals from South Africa to be halted on Wednesday after the potentially more infectious variant was found to have reached Britain, which itself is battling to contain another fast-spreading variant.
Tourism is a crucial sector for South Africa, accounting for nearly 9% of its economic output. Britain is the biggest source of tourism to the country, and the decision to halt flights could dent a much-needed recovery, operators said.
&#8220;We realized a massive pent-up demand was unfolding for January. But this travel ban is a major setback now,&#8221; said Michael Tollman, Group CEO of Cullinan Holdings Ltd.
The ban stigmatises South Africa and hits the industry hard, said Tshifhiwa Tshivhengwa, CEO of Tourism Business Council of South Africa. The council is meeting the tourism minister on Monday to ask the government to raise the issue diplomatically.
South African health authorities say the new variant of the virus, identified last week, is likely behind a surge in COVID-19 infections in the country. The rate of COVID-19 infections will soon surpass the peak hit in the first wave earlier in the year, they warn.
Elaine Zhou and Claudia Pilz, 27-year-old friends who live in London and are in Cape Town on holiday, said they were worried about how they were going to get home following the suspension of flights.
&#8220;It&#8217;s worrying because there&#8217;s no communication about when it will open or when it will change,&#8221; said Pilz, an accountant.
&#8220;It just says your flight has been cancelled, book again, so you are just literally pressing random days and it&#8217;s like &#8216;no flight, no flight, no flight&#8217;.&#8221;
(Reporting by Promit Mukherjee and Emma Rumney; Writing by MacDonald Dzirutwe; Editing by Pravin Char)
(c) Copyright Thomson Reuters 2020. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

Cape_Town_Stadium_Aerial_View

S.Africa tour operators despair at Britain’s flight ban over virus variant

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2020 has been a roller coaster ride for market participants on the Zimbabwean Stock Exchange. Some of the things that affected the bourse were COVID-19, changes in policies, and suspension of trading activity. Joining CNBC Africa to discuss where the Zimbabwean markets are is Batanai Matsika, Head of Research at Morgan &#038; Co.

Zim economy in limps into 2021

Zim economy limps into 2021

The massive cyber attack that hit government agencies and Microsoft

The massive cyber attack that hit government agencies and Microsoft, explained: CNBC After Hours

Facebook Africa Year in Review

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/03/106400431-1582206401665gettyimages-1201617017.jpeg" alt="A local resident tries to swot away a swarm of desert locusts in Mathiakani, Kitui County, Kenya, on Saturday, Jan. 25, 2020. The number of locusts in East Africa could expand 500 times by June, the UN’s Food &amp; Agriculture Organization said last month." class="wp-image-365130" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/03/106400431-1582206401665gettyimages-1201617017.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/106400431-1582206401665gettyimages-1201617017-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/106400431-1582206401665gettyimages-1201617017-696x391.jpeg 696w" sizes="auto, (max-width: 740px) 100vw, 740px" /><figcaption>A local resident tries to swot away a swarm of desert locusts in Mathiakani, Kitui County, Kenya, on Saturday, Jan. 25, 2020. The number of locusts in East Africa could expand 500 times by June, the UN’s Food &#038; Agriculture Organization said last month.
</figcaption></figure>


 
NAIROBI/GAROWE, Dec 16 (Thomson Reuters Foundation) &#8211; A new generation of locust swarms is threatening to wipe out the livelihoods of farmers and herders across eastern Africa &#8211; deepening a food crisis in a region where 35 million people are already hungry, the United Nations warned on Wednesday.
From January to August, massive desert locust swarms swept across Somalia, Ethiopia and Kenya, ravaging crops and decimating pasture in the worst outbreak in decades.
Governments, supported by U.N. agencies and international charities, responded with large-scale aerial and ground spraying of pesticides to destroy the swarms, which scientists have linked to climate change.
But widespread rains in Ethiopia and flooding caused by a cyclone in Somalia last month have created favourable breeding conditions, allowing locust infestations to increase, said the U.N. Food and Agriculture Organisation (FAO).
&#8220;We have achieved much, but the battle against this relentless pest is not yet over,&#8221; said FAO Director-General Qu Dongyu in a statement.
&#8220;We must not waiver. Locusts keep growing day and night and risks are exacerbating food insecurity for vulnerable families across the affected region.&#8221;
Locust swarms are already forming in Somalia and Ethiopia and threaten to re-invade northern Kenya, while breeding is also underway on both sides of the Red Sea, posing a new threat to Eritrea, Saudi Arabia, Sudan and Yemen, said the FAO.
Habib Mahmud, an environmental activist in Galkayo town in Somalia&#8217;s semi-autonomous northern region of Puntland, said farmers and pastoralists had been severely affected.
&#8220;There were close to 5,000 pawpaw trees in this farm located on outskirts of Galkayo. The trees were completely stripped bare by locusts in a few hours. No tree survived,&#8221; Mahmud told the Thomson Reuters Foundation by phone.
&#8220;The owners of that farm told me they lost their entire source of living, there was nothing left for them.&#8221;
Puntland authorities estimate that almost one-third of farmers have gone out of business and more than 35,000 families have lost jobs and income due to the devastation caused by the insects.
Aid workers say herders need veterinary care and fodder for starved livestock, while farmers require cash to help them survive the months until their next harvest.
Kenyan authorities said they were procuring pesticides, aircraft for spraying, and deploying ground surveillance teams to track the movement of locusts and inform communities.
&#8220;These locusts have the potential to destroy farmlands and any other form of green vegetation,&#8221; Kenyan government spokesman Cyrus Oguna told a news conference on Tuesday.
&#8220;If left unchecked in our country, the locusts have the potential to undermine our food security.&#8221;
More than 35 million people are acutely food insecure in Ethiopia, Kenya, Somalia, Sudan and Yemen. The FAO estimates this number could increase by another 3.5 million in the coming months, if nothing is done to control the latest outbreak.
(Reporting by Nita Bhalla @nitabhalla and Mohammed Omer, Editing by Katy Migiro. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers the lives of people around the world who struggle to live freely or fairly. Visit http://news.trust.org)
(c) Copyright Thomson Reuters 2020. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

A local resident tries to swot away a swarm of desert locusts in Mathiakani, Kitui County, Kenya, on Saturday, Jan. 25, 2020. The number of locusts in East Africa could expand 500 times by June, the UN’s Food & Agriculture Organization said last month.

106400431-1582206401665gettyimages-1201617017

Fresh wave of crop-ravaging locust swarms threaten E. African herders, farmers

By John Kemp



LONDON, Dec 16 (Reuters) &#8211; For the first time in history, most of the world’s population is living in urban areas, even in less-developed regions, and that will soon be true even if rapidly urbanising China is excluded.



Like the shift in the centre of the global economy from the North Atlantic to Asia, the transition from fossil to non-fossil energy, and population aging, urbanisation is one of the economic mega-trends.



It is in the rapidly growing cities and megacities of Asia, the Middle East, Africa and Latin America where the predominant shape of the future energy system will be determined.



Urban populations first overtook their rural counterparts in 2007, according to estimates compiled by the United Nations based on national definitions of urban and rural.



In more-developed regions, defined by the United Nations as North America, Europe, Japan and Australia/New Zealand, an urban majority first emerged during the 1930s and 1940s.



In less-developed regions, however, that happened for the first time only in the last five years, driven mostly by the great migration from the countryside to the cities in China.



Even excluding China, the less-developed regions of the world will have an urban majority for the first time by 2023 (“World urbanisation projections”, United Nations, 2018).



Rural populations have, however, continued to rise in absolute terms (https://tmsnrt.rs/3gTRdwB), but that too is about to change as the rapid migration to cities outweighs the natural reproduction and increase in rural areas.



Rural populations are projected to peak between 2021 (globally), 2024 (less-developed regions) and 2036 (less-developed regions outside China).



By contrast, urban populations are expected to grow every year in both more-developed and less-developed areas through 2050.



<h2 class="wp-block-heading" id="h-energy-transition">ENERGY TRANSITION</h2>



The anticipated transition to a non-fossil energy system will play out in urban centres, especially in Asia and other less-developed regions. But the interaction between urbanisation and energy use is ambiguous.



Densely populated urban areas tend to consume less energy per person, especially for mobility, because they can support more public transportation systems, including for daily commuting and other short journeys.



Urban residents tend to be more concerned about air pollution, and more willing and able to push for pollution controls to reduce health risks, at least once incomes pass a certain threshold.



But urban areas also generate higher levels of productivity and personal incomes, which translates into increased demand for energy services, including long-distance transportation, such as cross-border aviation.



Urbanisation could therefore either increase or reduce per capita energy consumption, depending on specific technology and policy choices, including land use and transportation planning.



Increased urbanisation could be compatible with a wide range of different energy systems – ranging from petroleum-fuelled cars and aircraft to wind and solar-powered electric cars, buses and trains.



<h2 class="wp-block-heading" id="h-alternative-futures">ALTERNATIVE FUTURES</h2>



Any credible projection for the global energy system must locate it within the context of other mega-trends.



Treating the development of the global energy system in isolation makes no sense; energy pathways must be consistent with urbanisation, population aging and the shift of economic activity towards Asia.



The global system’s evolution will depend first and foremost on technology and policy choices, ranging from intervention to laissez-faire, in the rapidly growing urban centres of Asia and other less-developed regions.



These are the areas that will see fastest population growth, greatest potential increase in per capita energy consumption, and where technology and policy choices will have the most impact at global scale.



Nonetheless, urban populations in more-developed regions have an important role to play, through demonstration effects, pioneering technology, learning curves, and the golden rule of &#8220;do unto others as you would wish them to do unto you&#8221;.



Already urbanised populations in more-developed regions cannot credibly demand their newly urbanising counterparts in less-developed regions avoid increased carbon emissions unless they are prepared to do the same.



And energy system choices by the declining rural populations in both more-developed and less-developed areas are important for similar reasons.



(c) Copyright Thomson Reuters 2020. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

Urbanisation and future energy pathways: John Kemp

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="740" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/11/GettyImages-1229611954-1110x740.jpg" alt="" class="wp-image-392210" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/11/GettyImages-1229611954-1110x740.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/GettyImages-1229611954-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/GettyImages-1229611954-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/GettyImages-1229611954-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/GettyImages-1229611954-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/11/GettyImages-1229611954-scaled.jpg 2048w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /><figcaption>BRAZIL &#8211; 2020/11/13: In this photo illustration a medical syringe is seen with Johnson and Johnson company logo displayed on a screen in the background. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)</figcaption></figure>



BRUSSELS, Dec 16 (Reuters) &#8211; The global scheme to deliver COVID-19 vaccines to poorer countries faces a &#8220;very high&#8221; risk of failure, potentially leaving nations home to billions of people with no access to vaccines until as late as 2024, internal documents say.



The World Health Organization&#8217;s COVAX programme is the main global scheme to vaccinate people in poor and middle income countries around the world against the coronavirus. It aims to deliver at least 2 billion vaccine doses by the end of 2021 to cover 20% of the most vulnerable people in 91 poor and middle-income countries, mostly in Africa, Asia and Latin America.



But in internal documents reviewed by Reuters, the scheme&#8217;s promoters say the programme is struggling from a lack of funds, supply risks and complex contractual arrangements which could make it impossible to achieve its goals.



&#8220;The risk of a failure to establish a successful COVAX Facility is very high,&#8221; says an internal report to the board of Gavi, an alliance of governments, drug companies, charities and international organisations that arranges global vaccination campaigns. Gavi co-leads COVAX alongside the WHO.



The report and other documents prepared by Gavi are being discussed at Gavi&#8217;s board meetings on Dec. 15-17.



The failure of the facility could leave people in poor nations without any access to COVID-19 vaccines until 2024, one of the documents says.



The risk of failure is higher because the scheme was set up so quickly, operating in &#8220;uncharted territory&#8221;, the report says.



&#8220;Current risk exposure is deemed outside of risk appetite until there is full clarity on the size of risks and possibilities to mitigate them,&#8221; it says. &#8220;It therefore requires intensive mitigation efforts to bring the risk within risk appetite.&#8221;



Gavi hired Citigroup last month to provide advice on how to mitigate financial risks.



In one Nov. 25 memo included in the documents submitted to the Gavi board, Citi advisors said the biggest risk to the programme was from clauses in supply contracts that allow countries not to buy vaccines booked through COVAX.



A potential mismatch between vaccine supply and demand &#8220;is not a commercial risk efficiently mitigated by the market or the MDBs,&#8221; the Citi advisors wrote, referring to multilateral development banks such as the World Bank.



&#8220;Therefore it must either be mitigated through contract negotiation or through a Gavi risk absorption layer that is carefully managed by a management and governance structure.&#8221;



Asked about the documents, a Gavi spokesman said the body remains confident it can achieve its goals.



&#8220;It would be irresponsible not to assess the risks inherent to such a massive and complex undertaking, and to build policies and instruments to mitigate those risks,&#8221; he added.



The WHO did not respond to a request for comment. In the past it has let Gavi take the lead in public comments about the COVAX programme.



Citibank said in a statement: &#8220;As a financial advisor, we are responsible for helping Gavi plan for a range of scenarios related to the COVAX facility and supporting their efforts to mitigate potential risks.&#8221;



<h2 class="wp-block-heading" id="h-supply-deals">SUPPLY DEALS</h2>



COVAX&#8217;s plans rely on cheaper vaccines that have so far yet to receive approval, rather than vaccines from frontrunners Pfizer/BioNTech and Moderna that use more expensive new mRNA technology. The Pfizer vaccine has already been approved for emergency use in several countries and deployed in Britain and the United States, and the Moderna vaccine is expected to be similarly approved soon.



COVAX has so far reached non-binding supply agreements with AstraZeneca, Novavax and Sanofi for a total of 400 million doses, with options to order several hundred million additional shots, one of the Gavi documents says.



But the three companies have all faced delays in their trials that could push back some possible regulatory approvals to the second half of 2021 or later.



This could also increase COVAX&#8217;s financial needs. Its financial assumptions are based on an average cost of $5.20 per dose, one of the documents says.



Pfizer&#8217;s vaccines costs about $18.40-$19.50 per dose, while Moderna&#8217;s costs $25-$37. COVAX has no supply deals with either of those firms. Nor is it prioritising investment in ultra-cold distribution chains in poor countries, necessary for the Pfizer vaccine, as it still expects to use mostly shots which require more conventional cold storage, one of the Gavi documents says.



On Tuesday a WHO senior official said the agency was in talks with Pfizer and Moderna to include their COVID-19 vaccines as part of an early global rollout at a cost for poor countries possibly lower than current market prices.



Other shots are being developed worldwide and COVAX wants to expand its portfolio to include vaccines from other companies.



Rich countries, which have booked most of the currently available stocks of COVID-19 vaccines, are also planning to donate some excess doses to poor countries, although is not clear whether that would be through COVAX.



<h2 class="wp-block-heading" id="h-financial-pressure">FINANCIAL PRESSURE</h2>



To meet its target of vaccinating at least 20% of people in poor countries next year, COVAX says it needs $4.9 billion in addition to $2.1 billion it has already raised.



If vaccine prices are higher than forecast, supply is delayed or the additional funds are not fully collected, the facility faces the prospect of failure, the documents say.



So far Britain and European Union countries are the main donors to COVAX, while the United States and China have made no financial commitments. The World Bank and other multilateral financial institutions are offering cheap loans to poor countries to help them buy and deploy vaccines through COVAX.



The facility is issuing vaccine bonds which could raise as much as $1.5 billion next year if donors agreed to cover the costs, one of the Gavi documents says. COVAX is also receiving funds from private donors, mainly the Bill and Melinda Gates Foundation.



But even under the best financial conditions, COVAX could still face failure, because of disproportionate financial risks caused by its complex deal-making process.



COVAX signs advance purchase contracts with companies on vaccine supplies that need to be paid for by donors or receiving countries that have the means to afford them.



But under clauses included in COVAX contracts, countries could still refuse to buy pre-ordered volumes if they prefer other vaccines, or if they manage to acquire them through other schemes, either faster or at better prices.



The facility could also face losses if countries were not able to pay for their orders, or even if herd immunity were developed too quickly, making vaccines no longer necessary, the Citigroup report said. It proposed a strategy to mitigate these risks including through changes in supply contracts. (Reporting by Francesco Guarascio @fraguarascio Editing by Peter Graff)



(c) Copyright Thomson Reuters 2020. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

In this photo illustration, a man holds a syringe with a

EXCLUSIVE-WHO vaccine scheme risks failure, leaving poor countries no COVID shots until 2024

Isana Cordier, Sector Head: Consumer Goods and Services



Highly regarded marketing and investment commentator Professor Scott Galloway of Stern University recently shared a fascinating statistic: More US households own an Amazon Prime Membership than decorate a Christmas Tree, own a pet or go to Church in 2020.



This statistic speaks to the changing consumer landscape across the globe and the role that digital platforms now play in the retail space.



While South Africa does lag some of its first-world peers in terms of digital consumption, “Black Friday” – and by extension “Cyber Monday” – trading statistics presented some insights into the impact of the COVID-19 pandemic and what it might mean for retailers going forward.



In the past, Black Friday has very much been viewed as an opportunity for retailers to do physical activations and sell “big-ticket” items such as electronics and home appliances through in-store activations. “Cyber Monday” was then an opportunity for the online retail operations to kick into gear.



For obvious reasons, 2020 has not been a normal year and retailers didn’t see queues outside their physical stores and many of the deep discounts that we have seen in the past have not materialised.&nbsp;



While some of this can be attributed to economic pressures, we need to remember that many retailers did not have a normal stock year – it takes up to 6 months to prepare for Black Friday, and many retailers didn’t have Easter specials or the ability to plan their stock levels due to the lockdowns that were implemented across the globe.



With the Festive season upon us, it is worth unpacking some of the data to better understand exactly how consumers reacted this year.



The first stand-out data point is that the “Real Black Friday” actually took place in March 2020 just prior to the Level 5 lockdown coming into effect. Over R1.2bn in transactions took place on the day before the lockdown came into effect and the three days prior to lockdown were 3 of the 4 highest days in terms of transaction volumes.



However, only certain categories benefitted as consumers were stocking up on alcohol, groceries and fitness equipment leading to a spike in consumer activity across the country.



With the lockdowns starting to bite, unemployment spiked in the third quarter of 2020 with the unemployment rate coming in at 30.8% &#8211; the highest unemployment rate on record since the Quarterly Labour Force Survey (QLFS) began in 2008.



This was reflected in the data we saw as the traditional Black Friday rolled around.



According to data out of BankServAfrica, in-store card purchases on 27 November numbered just under five million, a decrease of 30% compared to 2019. Online transactions, by contrast, spiked by more than 60% to just under 870,000 sales in total. This represented an increase of 300 000 extra online sales.



There were two million fewer sales in physical stores according to the BankServ data.



Looking specifically at Absa data, we can see the following:



<ul class="wp-block-list"><li>Black Friday spend in 2020 decreased by 22.4%, with just over 2 million Absa Card customers swiping or clicking on the day. The total turnover for the day on Absa Card customers was approximately R2.7bn and 5.2 million transactions took place.</li><li>Total turnover for Absa acquiring data was roughly around R6.9bn over the Black Friday weekend.</li><li>The total Card Issuing spend for the Black Friday weekend was 22.4% down last year, whilst Payment Acceptance showed a 31% decrease which correlates somewhat with Bankserv statistics.</li><li>There were 86 transactions approved every second down by +- 23 transactions, valued at R47k/second also down with +- R21k/second from the previous year</li></ul>



What are some of the key insights that retailers can use in their decision-making process:



<ol class="wp-block-list" type="1"><li>There was a shift from credit to debit card in 2020: While this statistic needs to be investigated further, it may suggest that many consumers are reaching their credit limits and this may have a material impact on the December spending habits. Our data showed that credit card transactions declined for both credit card “present” and “card not present” transactions. Online spend for debit card transactions had risen 29% over the period.&nbsp; &nbsp; </li><li>Consumer confidence is coming back: Data out of the Stellenbosch-based Bureau of Economic Research (BER) reported a spike in consumer and wholesaler confidence, following a sharp increase in consumer spend in the third quarter.</li><li>…. But consumers are feeling the pinch: Considering that many retailers choose to run a longer sale program throughout the month of November, it is also noticeable that the whole month of November 2020 is comparatively down 2.7% compared to November 2019.&nbsp; This is striking against the previous month of October where traded value was up 17%. Most categories reduced in value processed, except the Building and Home Improvement categories.&nbsp; Even the biggest traders in Food and Groceries category show reduced trading through the month of November. It remains to be seen whether the termination of the UIF and TERS benefits plays a material role in consumer confidence in December.</li></ol>



<ul class="wp-block-list"><li>Consumers are changing what they buy: The December sales update out of Italtile showed the work-from-home trend was driving a clear shift toward greater investment in the home, aided by restrictions on travel and other recreational activities.</li></ul>



<ul class="wp-block-list"><li>Consumers are changing how they pay: Despite some challenges with online channels it’s clear to see that customers are embracing new payment channels like Tap and Go and online more than doubling from 8% in 2019 to 22% in 2020.New payment types like Samsung Pay / Garmin Pay / Apple Pay / Fitbit Pay and others can also be seen to be used to pay for goods such from groceries, fuel to something to eat on the go. </li></ul>



Financial results coming out of the retail groups suggest that those who made the shift toward digital channels have reaped benefits.



Reporting interim results in November, The Foschini Group (TFG) saw online sales now make up 14.4% of total turnover. Online turnover in TFG Africa and TFG Australia saw strong growth of 115,8% (In Rand terms) in TFG Africa and 66,8% (In Australian Dollars) in TFG Australia for the six months ended 30 September 2020.



Woolworths similarly reported a pleasing shift toward digital channels when reporting its sales for the 20 weeks ended 15 November 2020. The group provides an interesting marker for the health of the consumer due to its diversified geographic footprint and product ranges.



While talk of COVID-19 vaccines arriving in early 2021 have boosted market confidence, digital channels are expected to play bigger roles in the consumer and retail space – it just remains to be seen whether the economy has enough momentum to sustain this consumer rebound.

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Black Friday taking consumers from bricks to bytes

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="816" src="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/GettyImages-1230142488-1110x816.jpg" alt="" class="wp-image-393843" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/12/GettyImages-1230142488-1110x816.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/GettyImages-1230142488-300x220.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/GettyImages-1230142488-820x603.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/GettyImages-1230142488-768x564.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/GettyImages-1230142488-1536x1129.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/12/GettyImages-1230142488-scaled.jpg 2048w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /><figcaption>Nigerian soldiers walk inside the Government Science where gunmen abducted students in Kankara, in northwestern Katsina state, Nigeria December 15, 2020. &#8211; Boko Haram on Tuesday claimed the abduction of hundreds of students, marking its first attack in northwestern Nigeria since the jihadist uprising began more than ten years ago. (Photo by Kola Sulaimon / AFP) (Photo by KOLA SULAIMON/AFP via Getty Images)</figcaption></figure>


 
MAIDUGURI, Nigeria, Dec 15 (Reuters) &#8211; A man identifying himself as the leader of Nigeria&#8217;s Boko Haram said on Tuesday the Islamist group was behind the abduction of more than 300 schoolboys, as anxious parents begged the government to secure their release.
Pupils who escaped kidnap on Friday, by jumping over the fence of the Government Science secondary school in Katsina state in northwestern Nigeria and fleeing through a forest, said the attackers were armed with Ak-47 assault rifles and rounded up their victims before marching them off.
Boko Haram, whose name means &#8220;Western education is forbidden&#8221; in the local Hausa language, has waged an insurgency in the northeast of Nigeria since 2009 but has not previously claimed attacks in the northwest.
The claims in the audiotape, if true, could mark a widening influence of jihadist groups operating in northeastern Nigeria, political analysts said.
They could also signal that jihadists have formed alliances with militant groups operating in the Sahel, which could further destabilise the impoverished north of Africa&#8217;s most populous nation which plays a pivotal role in regional stability.
Katsina state authorities said about 320 boys were missing and Nigeria&#8217;s government said it had spoken to the kidnappers, who have sought a ransom from at least one parent.
&#8220;We&#8217;re begging the government to please try their best to get their release,&#8221; Hajiya Ummi, whose 15-year-old son Mujtaba is among those missing, said by telephone from her home in Bakori town in Katsina.
&#8220;His friends told me he was sick in bed when the bandits struck. He could hardly move but they dragged him out with the rest of the abducted students,&#8221; she said, her voice cracking with emotion.
AUDIO CLIP
In an audio message which reached Reuters via a WhatsApp message, a man purporting to be Boko Haram leader Abubakar Shekau said: &#8220;We are behind what happened in Katsina.&#8221;
&#8220;What happened in Katsina was done to promote Islam and discourage un-Islamic practices as Western education is not the type of education permitted by Allah and his holy prophet,&#8221; he said.
No video footage was released of the missing boys.
The man offered no proof for his statement. Reuters was unable to verify the audio and Nigerian authorities did not immediately comment.
A security source told Reuters Boko Haram was not itself involved in the abduction, but that the kidnappers could have sold the boys to the Islamist group.
Spokesmen for the presidency, police and army did not immediately respond to requests for comment.
Cheta Nwanze, lead partner at Lagos-based risk consultancy SBM intelligence, said huge swathes of northwest Nigeria were ungoverned spaces where arms and people moved freely across porous borders.
Nearby Burkina Faso has descended into chaos as Islamist groups with links to al Qaeda and Islamic State exploit ethnic grievances and government neglect of the arid north.
On Monday, an attack blamed on Boko Haram killed 28 people and burned 800 homes in the southern Diffa region of Niger, which borders Nigeria to the north.
&#8220;There is a danger that jihadists operating in the Sahel could potentially build alliances with groups that have previously remained in northeast Nigeria. That would further destabilise the region,&#8221; Nwanze said.
Boko Haram carried out the 2014 kidnap of more than 200 girls from a school in the northeastern town of Chibok. About half the girls have been found or freed, dozens have been paraded in propaganda videos, and some are believed to be dead.
More than 30,000 people have been killed since Boko Haram began its insurgency, aimed at creating an Islamic state.
(Reporting by Maiduguri newsroom; Additional reporting by Ardo Hazzad in Bauchi, Alexis Akwagyiram and Libby George in Lagos, Camillus Eboh and Felix Onuah in Abuja; Editing by Andrew Cawthorne and Timothy Heritage)
(c) Copyright Thomson Reuters 2020. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

NIGERIA-UNREST-KIDNAPPING

UPDATE 1-Nigeria’s Boko Haram behind schoolboys’ abduction – audio message

By Jack Stubbs
LONDON, Dec 15 (Reuters) &#8211; Rival French and Russian disinformation campaigns have sought to deceive and influence Internet users in the Central African Republic ahead of an election later this month, Facebook said on Tuesday.
Facebook said it was the first time it had seen foreign influence operations directly engage on its platforms, with fake accounts denouncing each other as &#8220;fake news&#8221;.
The company said it had suspended three networks totalling almost 500 accounts and pages for so-called &#8220;coordinated inauthentic behaviour&#8221;. One network was linked to &#8220;individuals associated with French military,&#8221; it said, while the other two had connections to &#8220;individuals associated with past activity by the Russian Internet Research Agency&#8221; as well as Russian businessman Evgeny Prigozhin.
The French defence ministry and military command did not immediately respond to requests for comment. Representatives for Prigozhin, who U.S. prosecutors say directed the Internet Research Agency to meddle in the 2016 U.S. election, did not immediately respond to requests for comment. He denies the U.S. allegations.
&#8220;You can&#8217;t fight fire with fire. We have these two efforts from different sides of these issues using the same tactics and techniques, and they end up looking sort of the same,&#8221; said Nathaniel Gleicher, Facebook&#8217;s head of cybersecurity policy.
France and Russia are both keen to assert influence in Africa. Paris has ties with many French-speaking African countries, which it sees as vital to preventing the spread of violent Islamisation, and Moscow is jockeying for position in a lucrative market.
Facebook said the two campaigns largely focused on the Central African Republic (CAR), which votes on Dec. 27, but also targeted users in 13 other African countries including Algeria, Cameroon, Libya and Sudan.
Ben Nimmo, head of investigations at social media analytics firm Graphika, said both campaigns used fake accounts to pose as local people, sometimes sharing doctored photos.
The French effort started in mid-2019 and pushed pro-French messages before targeting &#8220;Russian fake news&#8221; following Facebook&#8217;s suspension of a Russian-linked disinformation campaign in Africa in October last year.
The subsequent Russian operation attempted to promote Russian business and diplomatic interests, as well as the candidacy of President Faustin-Archange Touadera in the election, he said. Later, the Russian accounts tried to out the French accounts that were trying to out them.
But neither side built a significant audience in CAR, he added. &#8220;They looked like two troll teams arm wrestling, with nobody else really paying attention.&#8221;
(Additional reporting by Tangi Salaun in PARIS; Editing by Giles Elgood)
(c) Copyright Thomson Reuters 2020. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html

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French and Russian trolls wrestle for influence in Africa, Facebook says

* Programme to insure vaccine storage and transit
* Syndicate to begin underwriting in Jan 2021
* AXA XL to provide risk consulting services (Adds quotes, details)
LONDON, Dec 15 (Reuters) &#8211; Lloyd&#8217;s of London and insurtech firm Parsyl have launched a programme to insure the distribution of COVID-19 vaccines in emerging markets as drugmakers race to address the biggest global logistical challenge since the Second World War.
The Global Health Risk Facility (GHRF), made up of 14 insurers and reinsurers, has been set up to address the challenges of transporting temperature-sensitive vaccines, and will be supported by $26.7 million in funding from the U.S International Development Finance Corporation, the companies said on Tuesday.
The DFC loan will be used to capitalize a new public-private Lloyd&#8217;s syndicate, which will start operating in January, and allow the GHRF to offer cost-effective insurance policies for shipments of vaccines and medical products to developing countries.
The GHRF will make available billions of dollars of insurance coverage, the companies said https://www.lloyds.com/news-and-risk-insight/press-releases/2020/12/lloyds-and-parsyl-launch-insurance-initiative-for-distribution-of-covid-19-vaccines.
&#8220;As the world prepares to undergo the largest vaccination programme in human history, ensuring the safe and effective distribution of the vaccine is critically important in tackling this global health emergency,&#8221; said Lloyd&#8217;s of London Chief Executive Officer John Neal.
Several vaccine programmes are now seen as promising, but budgetary constraints in paying for them and challenges in storage and distribution cloud the outlook for many emerging market economies such as Brazil, Mexico, Indonesia, India, Russia and parts of Africa.
COVID-19 vaccine distribution is a headache for insurers, who are concerned about the extra-cold temperatures required to transport vaccines such as the one developed by Pfizer and BioNTech, the first Western vaccine off the drawing board. Theft or cyber attacks on the supply chain are an added worry.
&#8220;By unleashing the power of data, we&#8217;re addressing a critical insurance gap when the world needs it most,&#8221; Ben Hubbard, Chief Executive at Parsyl said.
The international police organization Interpol has issued a global alert https://www.interpol.int/en/News-and-Events/News/2020/INTERPOL-warns-of-organized-crime-threat-to-COVID-19-vaccines to law enforcement across its 194 member countries warning them to prepare for organized crime networks targeting COVID-19 vaccines, both physically and online.
The distribution of COVID-19 vaccines is a complex task even locally. Governors in more than two dozen U.S. states and territories are planning on using the National Guard in some capacity for COVID-19 vaccine distribution at this point.
The first U.S. vaccine shipments departed Pfizer&#8217;s facility in Kalamazoo, Michigan on Monday, packed into trucks with dry ice to maintain the cargo at its required sub-Arctic temperature. The shipments were then flown by UPS and FedEx planes to cargo hubs and finally trucked or flown to vaccine-staging areas.
The GHRF programme will protect the quality of the goods and the financial investments made to supply and distribute them at a global level.
Syndicate 1796 is the first public-private partnership to address a global health emergency in Lloyd&#8217;s 330-year history, the companies said.
As part of the programme, AXA XL is providing risk consulting services.
(Reporting by Sinead Cruise and Carolyn Cohn in London and Noor Zainab Hussain in Bengaluru, editing by Louise Heavens and Bernadette Baum)
(c) Copyright Thomson Reuters 2020. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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Lloyd’s, Parsyl to insure emerging market COVID-19 vaccine rollout

(Adds details, background)
By Stephanie Nebehay and Emma Farge
GENEVA, Dec 15 (Reuters) &#8211; The World Health Organization is looking at new financial instruments to help to fill a $28 billion funding shortfall for tools to fight COVID-19, a senior official said on Tuesday.
The WHO and GAVI vaccine alliance aim to provide poor and middle-income countries with diagnostic tests, drugs and vaccines through a fund known as the Access to COVID-19 Tools (ACT) Accelerator, which was set up last April.
Bruce Aylward, a senior WHO adviser and its ACT coordinator, said that new financing mechanisms &#8211; including concessional loans and catastrophe bonds &#8211; were discussed at a meeting of the ACT facilitation council on Monday, co-chaired by Norway and South Africa.
&#8220;Right now financing is what stands between us and getting out of this pandemic as rapidly as possible,&#8221; he told a U.N. briefing in Geneva. &#8220;It&#8217;s a real challenge in today&#8217;s fiscal environment despite the fact that this is the best deal in town,&#8221; Aylward said, referring to the ACT Accelerator facility. &#8220;This will pay itself off in 36 hours once we get trade and travel moving again.&#8221;
Aylward said that the WHO and partners were in talks with Pfizer to include its COVID-19 vaccine as part of an early global roll out.
He said that he saw a &#8220;strong commitment&#8221; on the part of Pfizer CEO Albert Bourla to set prices at levels appropriate to poorer populations. Aylward expected some news on more manufacturers joining the list of providers to the COVAX vaccine facility in coming weeks, he said.
Canada has pledged to spend C$485 million ($380 million) to support COVID-19 tests, treatments and vaccines in low- and middle-income countries, including antibody treatments, International Aid Minister Karina Gould said on Monday.
(Reporting by Stephanie Nebehay and Emma Farge. Editing by Jane Merriman)
(c) Copyright Thomson Reuters 2020. Click For Restrictions &#8211; https://agency.reuters.com/en/copyright.html
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Black Friday taking consumers from bricks to bytes

UPDATE 1-Nigeria’s Boko Haram behind schoolboys’ abduction – audio message

French and Russian trolls wrestle for influence in Africa, Facebook says

Lloyd’s, Parsyl to insure emerging market COVID-19 vaccine rollout

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article

African Union vaccines to be allocated according to population

AU SAYS AFRICA NEEDS INFRASTRUCTURE FUND TO PUSH DEVELOPMENT

SOUTH AFRICA’S PRESIDENT RAMAPHOSA SAYS COVID-19 PANDEMIC IN COUNTRY AT ITS MOST DEVASTATING

South Africa’s rand firms as country secures COVID-19 vaccines

How Can We Fix The Massive E-Waste Problem?

S.Africa tour operators despair at Britain’s flight ban over virus variant

Zim economy limps into 2021

The massive cyber attack that hit government agencies and Microsoft, explained: CNBC After Hours

Facebook Africa Year in Review

Fresh wave of crop-ravaging locust swarms threaten E. African herders, farmers

Urbanisation and future energy pathways: John Kemp

EXCLUSIVE-WHO vaccine scheme risks failure, leaving poor countries no COVID shots until 2024

Black Friday taking consumers from bricks to bytes

UPDATE 1-Nigeria’s Boko Haram behind schoolboys’ abduction – audio message

French and Russian trolls wrestle for influence in Africa, Facebook says

Lloyd’s, Parsyl to insure emerging market COVID-19 vaccine rollout

New kinds of loans and bonds could fill $28 bln COVID funding gap: WHO

News Tips

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