What We Know About Omicron, the New Virus Variant: QuickTake

LAGOS (Capital Markets in Africa) – A new variant of the coronavirus that causes Covid-19 has been identified in Botswana and South Africa, where it’s been associated with a steep increase in new cases. The strain — first called B.1.1.529 and later named omicron — poses a “very high” risk, according to the World Health Organization, which added it to its list of variants of concern. Governments around the world have started banning travelers from…

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Kenya’s Bourse Gives Companies One Year to Grasp ESG Reporting

Kenya’s Bourse Gives Companies One Year to Grasp ESG Reporting

NAIROBI (Capital Markets in Africa) – Kenya’s securities exchange has moved a step closer to requiring companies to start Environmental, Social and Governance, or ESG, disclosure and introducing an index for the category. The Nairobi Securities Exchange published its ESG guidance manual on Monday, with a view of aligning information reported by companies listed in Kenya with international standards. The NSE and the East African nation’s Capital Markets Authority are in discussions to introduce an ESG index…

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Doctor Who Saw Omicron Early Says Symptoms Milder Than Delta

Doctor Who Saw Omicron Early Says Symptoms Milder Than Delta

JOHANNESBURG (Capital Markets in Africa) – People infected by omicron in South Africa are showing very different symptoms to those suffering from the delta strain, said the doctor who alerted government scientists to the possibility of a new variant.  Patients who contracted it complain of fatigue, head and body aches and occasional sore throats and coughs, said Angelique Coetzee, who is also chairwoman of the South African Medical Association. Delta infections, by comparison, caused elevated pulse…

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China Cash Flowed Through Congo Bank, Enriching Kabila’s Cronies

China Cash Flowed Through Congo Bank, Enriching Kabila’s Cronies

KINSHASA (Capital MArkets in Africa) – The Chinese businessman had walked out of a bank in Kinshasa with 13,624 hundred-dollar bills, 10,001 fifties and 43,000 smaller U.S. notes, despite explicit instructions to prevent it from happening. “The account has finally been emptied,” Yvon Douhore, head of an in-house audit team in the capital of the Democratic Republic of Congo, wrote in an email that day, July 5, 2018, after noticing the withdrawal. “I’m at a loss…

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Tester Expects Fed Chair Uncertainty to Hamper Inflation Actions

Tester Expects Fed Chair Uncertainty to Hamper Inflation Actions

NEW YORK (Capital Markets in Africsa) – A senior Senate Democrat suggested that uncertainty over who will run the Federal Reserve has limited action to rein in U.S. inflation and urged President Joe Biden to renominate Fed Chair Jerome Powell for another term. “I think we’ve got issues revolving around inflation that he can’t do much about as long as he’s not confirmed,” Montana Senator Jon Tester said on NBC’s “Meet the Press” on Sunday. Powell “needs to…

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Biden to Speak on Economy on Tuesday With Fed Decision Looming

Biden to Speak on Economy on Tuesday With Fed Decision Looming

NEW YORK (Capital Markets in Africa) – President Joe Biden will give a speech on the economy and combating inflation on Tuesday as markets await his decision on the next Federal Reserve chair and possible moves to bring down U.S. energy prices. For the U.S. central bank, Biden is choosing between Chair Jerome Powell and Fed Governor Lael Brainard, who is viewed as more liberal on climate change and bank regulation. The White House has said Biden will…

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Sudan’s Military Reinstated the Civilian Prime Minister. But Post-coup Turmoil Could Deepen.

Sudan’s Military Reinstated the Civilian Prime Minister. But Post-coup Turmoil Could Deepen.

NAIROBI (Capital Markets in Africa) – Sudan’s military and civilian leaders reached a deal Sunday to reinstate Prime Minister Abdalla Hamdok, who was ousted in a coup last month that reignited mass protests and political uncertainty more than two years after a popular uprising forced out longtime autocrat Omar Hassan al-Bashir. Hamdok, who had spent the past month under house arrest, praised the agreement as a way to restore Sudan’s fragile democratic transition, but the…

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