DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 5819

Africa’s Vaccine Concern Increases as African Union Drops AstraZeneca

0

The African Union (AU) said it has halted plans to secure Oxford/AstraZeneca coronavirus vaccines because of supply concerns from India’s Serum Institute.

This comes at the heels of AstraZeneca vaccine blood clot concerns and vaccine shortage that has kept African countries at the bottom of global vaccination effort.

The Financial Times reported John Nkengasong, the Africa Centres for Disease Control and Prevention unit’s director, saying that the body will instead focus on the single-shot vaccine from Johnson & Johnson.

According to him, the decision not to buy AstraZeneca is so as “not to duplicate efforts.” African countries will still receive the AstraZeneca jab through the World Health Organization’s global vaccine-sharing facility Covax.

“We didn’t want to compete with Covax,” he told the Financial Times. “[AstraZeneca] vaccines from the Serum Institute of India are coming to the continent, anyway.” Nkengasong stressed that the decision had “nothing to do” with concerns in Europe about blood clots, insisting that “we recommend the use of the [AstraZeneca] vaccine”.

While there are reasons to believe that AU’s decision has nothing to do AstraZeneca’s blood clot concerns, the timing has the capacity to trigger a new wave of vaccine apathy in Africa.

“The announcement happening around the same time the European medical authority shared concerns over blood clots gives people more reason to amplify misinformation,” said Gregory Rockson, founder of Africa-wide healthcare provider mPharma, which is based in Ghana.

“We need strong political leadership and clear messaging to fight growing vaccine scepticism,” he added.

On Wednesday, UK and European regulators ruling found a link between the jab and very rare blood clots, justifying the decision of many countries to suspend its use. Spain and Italy have moved to limit the use of the AstraZeneca vaccine to people aged above 60, and the UK to those aged over 30.

Before the ruling on Wednesday, calls for Africa to join other countries to suspend AstraZeneca vaccine had been on high.

South Africa was selling the AstraZeneca vaccine to other AU member states following concern it would be less effective in fighting the local variant.

But amidst the jab’s efficacy concern is also the challenge of production and distribution.

Nkengasong said delays in deliveries of AstraZeneca doses were hampering vaccination drives across Africa, and the ability to forecast when doses will be available is vital when planning those efforts.

“This latest decision was just a clear understanding of how not to duplicate efforts with the Serum Institute, so that we complement each other rather than duplicate efforts,” he said during a press briefing.

Since it was agreed “Covax would get those [AstraZeneca] doses and start with the vaccination programme, we now shifted our efforts to the Johnson & Johnson arrangement and that is what led to the agreement of last week, so that the Serum Institute of India was enabled to be able to supply doses to the Covax mechanism”, he added.

Last week, J&J announced an agreement to supply the AU with up to 400m doses of the jab by the third quarter of the year.

African Union

But there is also concern that uncertainties emanating from new waves and new variants of the virus. may get in the way of J&J.

In January, Nkengasong said the Africa CDC was planning to receive another 400m shots of AstraZeneca from the Serum Institute, in addition to 270m previously discussed. These vaccines have not arrived.

Last month India, one of the world’s biggest vaccine producers, froze all major exports of jabs to prioritize local vaccinations as its second wave of coronavirus infections accelerated.

Apart from the fear that this development will fuel misinformation, Africa’s narrowed vaccine choices may be jeopardized.

Ayoade Alakija, co-chair of the AU’s Africa Vaccine Delivery Alliance for Covid-19, said he is concerned that people may end up missing second doses and it will be a “catastrophic failure of vaccine efforts if we have to restart the clock.”

The WHO has said the aim of Covax is to vaccinate at least 20 per cent of Africans with 600m doses of the AstraZeneca jab by the end of the year.

With the first quarter of the year gone, more than 700 million vaccine doses have been administered globally, yet Africa accounts for less than 2% of the total compared to North America’s 27% and Europe’s 20% share, according to the latest data.

“Our goal is to get to 60 per cent. If Covax gets to 20 per cent, then we can go and find additional doses to get to 60. If Covax goes to AstraZeneca to get those doses, we can then go to Johnson & Johnson to find the remaining vaccines,” Nkengasong said.

There is no guarantee that Africa’s vaccine target will be met as it is increasingly getting altered by unforeseen events and decisions such as this by the AU.

To Read My Book, “The Dangote System”, Register for Tekedia Mini-MBA

0

Understand the power of Conglomerate Tax and how entrepreneurial capitalism with pioneering upstream capabilities change the ordinance of market systems. In The Dangote System, I explained how empires are built and how the greatests of the greats become the states, from old GE to Amazon, from old IBM to Dangote Group. Critics like it…read exclusively at Tekedia Institute.

“This book is a worthy read to all aspiring, low-fly and high-flying entrepreneurs, including those envious of the privileges that Dangote Empire has enjoyed. Noteworthy to say, I doubt Mr Aliko Dangote himself understands these privileges as a Conglomerate Tax (reward for helping Government out on high-pains by moving upstream) and not benefits of tribalism, feudalism, and/or Northern Nigeria cabalism.”

“Though relatively new in the core business world, this is the best business book I have read …I have taken numerous courses on Coursera and the like, but this platform is down to our business climate.”

“This book is a very amazing piece. It presents concise, well thought-out and very clear insights on how to build companies with focus on solving problems not many people can solve and consequently, have government’s attention and support. ”

BEGIN reading here.

Join The Innovators – Register for Tekedia Mini-MBA

0

How do you translate knowledge into a solution? How do you move from Invention into Innovation? How do you build category-king companies? At Tekedia Mini-MBA, with a world-class faculty of 120 executives, we provide a roadmap. I invite you to join us. If you register before midnight in your city today, we have many goodies for you.  Tekedia Mini-MBA: 12 weeks, self-paced, 100% online, thrice weekly live sessions and costs $140 or N50k. Begin here.

 

 

New University of Ibadan Governing Council, Vice Chancellor Appointment and the Burden of Ethnicity in Nigeria

0
University of Ibadan, a federal university

The year 2020 will always be remembered by the students and other stakeholders of the Nigerian oldest University, University of Ibadan. It is the year that brought unexpected happenings to the University Community. The happenings affected academic and administrative progress. The stakeholders could not believe it that a virus would emerge and disrupt academic activities on the campus. They were surprised that the first and the best would find it difficult to lead other institutions in terms of virtual teaching during the challenging time. 

In our experience, the disruptive element which the COVID-19 constituted to the University’s ability and capability to manage people and processes towards value creation and delivery for every stakeholder seems not to be a significant one to the pride of the University. The institution’s failure to maintain its tradition of appointing a new Vice-Chancellor before the end of the incumbent tenure and emergence of an acting Vice-Chancellor remain stains that need to be removed as soon as possible and prevent their future occurrence. 

During the year, counter and alternative narratives trailed the appointment of a new VC, who is expected to take over the leadership of the University from former VC, Professor Idowu Abel Olayinka. From the internal to the external issues, University of Ibadan Selection Community failed to present at least three best candidates to the Visitor [President Federal Republic of Nigeria]. 

One of the strategies to douse tension during the selection process was a directive given by the Federal Ministry of Education that the Governing Council should re-start the appointment process afresh. This happened a few days to the end of former VC tenure. Thus, it was difficult to present an expected number of candidates to the Visitor within the period. Hence, the acting Vice Chancellor was appointed for a 6-month period. 

On April 8, 2021, former Chairman of the All Progressive Congress, Chief Odigie Oyegun was appointed as a new Chairman of the Governing Council while Masud Kazaure, Abba Yaro, Abubakar Maikafi and Emeka Nwagbo are members. The new governing council will be inaugurated on April 19. Our analyst notes that the burden of appointing a new VC now rests with the Chairman and members, including stakeholders directly responsible for working with the Council. 

Our analyst had earlier reported that getting an appointment of VC right at the University means the Institution is ready to set a good example for others, which it birthed some years ago. According to our analyst, UI also needs a strong strategic leadership as the Institution continues fulfilling its vision and mission in a challenging world.  

Like ethnicity and race, which were brought into the selection earlier, some members of the public have expressed concerns over the structure of the new council, which according to them favour northerners than southerners. It would be recalled that a prominent Nigerian Professor, who resides in the United States of America, had warned against favouritism and nepotism.

The Nigeria’s SEC Clear Warning!

1

It was the toughest statement out of the financial system regulators in Nigeria this week. Yes, Nigeria’s Securities and Exchange Commission (SEC) nearly made the startups which are helping Nigerians to buy foreign stocks illegal. When I read the notice, I did not want to write about it because, by nature, I do not like to break news; I like to analyse broken news. For this one specifically, the risk was huge: doing it without a nuanced analysis could make some people do the unthinkable in a nation under stress.

Nigeria’s Securities and Exchange Commission (SEC) has warned capital market operators to stop giving support to online investment trading platforms providing access to foreign securities in Nigeria.

In a statement Thursday, the regulator said those securities were not registered in Nigeria, and platforms providing access to them were acting against the law. It warned capital market operators in partnership with the platforms to desist from providing brokerage services for foreign securities.

The apparent move by the SEC to bar fintechs from selling, issuing or offering for sale foreign securities not listed on any exchange registered in Nigeria, if seen through, will negatively impact thousands of Nigerians who have lately been drawn by technology to investing in foreign securities.

I recall that Nigeria is bombing Akwa Ibom and making many of the citizens aliens, when the evils the bad boys have committed are done in the Southeast and the northern part all the time. Sure, no one is giving excuses for fighting bad boys but the asymmetric force used when it comes to Nigerian minority tribes should be re-evaluated. You want to flush our miscreants and within days you have created refugees in a largely peaceful region of the nation. Can we do this in Kano? Kaduna? Ekiti and Enugu? Not possible! From Odi to its cousins, since 1970, all the hard hits have typical geographies.

The military operation in Essien Udim Local Government Area of Akwa Ibom State to “flush out miscreants” has created a new challenge – a refugee crisis – in the state.

The operation was launched in Ntak Ikot Akpan community after some hoodlums attacked and killed three police officers in the local government area a few days ago.

Four officers are still missing after the attack, the police in Akwa Ibom said.

Several people were killed during ground operation and an aerial bombardment by troops.

Back to the apps. The SEC notice should concern those investment apps which focus on foreign stock markets, helping Nigerian investors to buy Apple, Facebook and other foreign stocks. Sure, many of them would move to comply but this is a concern after what happened to cryptocurrency when the apex bank banned its connection to the Nigerian banking. Chaka, Trove, Bamboo, Risevest and others have works to do, because as they become more successful, regulations will evolve.

The SEC statement….

Proliferation of Unregistered Online Investment and Trading Platforms Facilitating Access to Trading in Securities Listed in Foreign Markets

The attention of the Securities and Exchange Commission (the Commission) has been drawn to the existence of several providers of online investment and trading platforms which purportedly facilitate direct access of the investing public in the Federal Republic of Nigeria to securities of foreign Companies listed on Securities Exchanges registered in other jurisdictions. These platforms also claim to be operating in partnership with Capital Market operators (CMOs) registered with the Commission.

The Commission categorically states that by the provisions of Sections 67-70 of the Investments and Securities Act (ISA), 2007 and Rules 414 & 415 of the SEC Rules and Regulations, only foreign securities listed on any Exchange registered in Nigeria may be issued, sold or offered for sale or subscription to the Nigerian public. Accordingly, CMOs who work in concert with the referenced online platforms are hereby notified of the Commission’s position and advised to desist henceforth.

The Commission enjoins the investing public to seek clarification as may be required via its established channels of communication on investment products advertised through conventional or online mediums.

Signed
Management