Features

LAGOS (Capital Markets in Africa) — Viruses mutate all the time, including the novel coronavirus that’s caused the global Covid-19 pandemic. Most of the changes have no apparent effect. But recent variants that have emerged in the U.K., South Africa, and Brazil are causing particular concern. Studies suggest they are more contagious, and some evidence points to the U.K. strain being more deadly. An increase in infections has led to a surge in hospitalizations and…

JOHANNESBURG (Capital Markets in Africa) — The lead researcher of the South African trial of AstraZeneca Plc’s coronavirus vaccine urged authorities in the country to continue using the shot to cut death and hospitalization rates and the chance of further virus mutations. Early data of a small phase trial published Sunday showed that AstraZeneca’s vaccine has limited efficacy against mild disease caused by the B.1.351 variant that’s now dominant in South Africa, prompting the government…

LAGOS  (Capital Markets in Africa) — Elections are set to dominate the political calendar in emerging and frontier markets in a year when investors’ focus turns to how quickly governments are able to lift their economies from the global downturn. The results of the votes in nations from South Africa to Mexico will help determine the market winners and laggards amid concern over valuation in EM assets after a rally boosted stocks to a record this year. The…

NEW YORK (Capital Markets in Africa) — Tesla Inc. will recall about 135,000 Model S and X vehicles in the U.S. after a months-long investigation by the nation’s auto-safety regulator concluded their touch screens are defective. Tesla equipped certain Model S sedans from 2012 to 2018 and Model X crossovers from 2016 to 2018 with Nvidia Corp. processors that are prone to wearing out, Tesla said in a recall report. The flaw can lead to…

LAGOS (Capital Markets in Africa) — Lagos State, which includes Nigeria’s commercial hub and biggest city, approved clinical trial of the drug Ivermectin to assess its effectiveness against Covid-19. Ivermectin is an FDA-approved broad-spectrum anti-parasitic agent that has been shown to have anti-viral activity against a broad range of viruses including SARS-CoV-2 and potentially cut the risk of Covid-19 deaths by as much as 75%, according to researchers at the University of Liverpool. “While this…

JOHANNESBURG (Capital Markets in Africa) — Ford Motor Co. will plow $1.05 billion into a plant in South Africa — its biggest-ever investment in the country — as the carmaker scales back in other regions including Brazil and Europe. The upgrades to the Silverton plant near the capital, Pretoria, will boost the site’s annual capacity by almost a fifth to 200,000 units and create about 1,200 direct jobs, the company said in a statement on…