
<ul class="wp-block-list"><li>WTO seeks deal after 18-month deadlock</li></ul>



<ul class="wp-block-list"><li>China voices an objection to proposal</li></ul>



<ul class="wp-block-list"><li>Chief hopes for deal by June ministerial</li></ul>



<ul class="wp-block-list"><li>Recasts, adds China comment, bullets</li></ul>



<p>By Emma Farge</p>



<p>GENEVA, May 6 (Reuters)&nbsp;&#8211;&nbsp;The first World Trade Organization meeting to discuss a draft agreement to temporarily waive intellectual property rights for COVID-19 vaccines went &#8220;very well&#8221;, its chair said on Friday, although some members voiced reservations.</p>



<p>The WTO&#8217;s 164 members on Friday discussed the &#8220;outcome document&#8221; that stems from months of negotiations between the main parties &#8211; the United States, the European Union, India and South Africa &#8211; in an effort to break an 18-month deadlock over the issue.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL2N2WV1EH&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a></p>



<p>&#8220;It went very well and here&#8217;s why I say that. No member rejected the outcome as completely unacceptable,&#8221; Ambassador Lansana Gberie from Sierra Leone, who chairs the council tasked with finding an agreement on the waiver, told Reuters after the closed-door meeting.</p>



<p>&#8220;Most said this could be developed into a negotiating text and that&#8217;s the trajectory we have to follow.&#8221;</p>



<p>However, two Geneva trade sources said after the meeting that some delegations had said the proposal fell short since it was too narrowly focused on vaccines, echoing criticism from some civil society groups.</p>



<p>And while China voiced broad support for the document it also raised an objection to some of the wording that appeared to exclude it from the waiver on the basis of its global share of vaccine exports, the two sources said.</p>



<p>China&#8217;s statement sent by its WTO mission in Geneva called the wording &#8220;an unreasonable and arbitrary criterion&#8221;.</p>



<p>The waiver idea, proposed by India and South Africa in October 2020, is supported by the majority of members of the global trade body.</p>



<p>But some wealthy countries including Britain and Switzerland have in the past raised objections on grounds that it could harm pharmaceutical research.</p>



<p>WTO Director-General Ngozi Okonjo-Iweala, who has been involved in brokering the talks and wants a deal by the June ministerial conference, says an agreement would be &#8220;hugely important&#8221;.</p>



<p>The new draft deal, which has unresolved areas, must pass by consensus and any member of the organisation has the right to a veto.</p>



<p>One delegate described Friday&#8217;s meeting as the moment the deal would &#8220;float or sink&#8221;.</p>



<p>Privately, some delegates have said a lack of public support for the deal by the main negotiating parties has sapped confidence among other members.</p>



<p>(Reporting by Emma Farge; Editing by Raissa Kasolowsky and Edmund Blair)</p>


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WTO meeting on COVID vaccine rights waiver went ‘very well’ -chair


<p>JOHANNESBURG, May 5 (Reuters)&nbsp;&#8211;&nbsp;Africa&#8217;s top public health body urged all those purchasing COVID-19 vaccines for the continent to place orders with South Africa&#8217;s Aspen Pharmacare&nbsp;APNJ.J, saying the market was key to developing vaccine manufacturing on the continent.</p>



<p>The Africa Centre for Disease Control and Prevention (CDC) said it was doing everything it could behind the scenes to prevent a situation where Aspen closes its facility due to a lack of orders.</p>



<p>Aspen negotiated a licensing deal in November to package and sell Johnson &amp; Johnson&#8217;s&nbsp;JNJ.J&nbsp;COVID-19 vaccine and distribute it across Africa.</p>



<p>This was hailed as a game-changing moment for an under-vaccinated continent frustrated by sluggish Western handouts, but Aspen&#8217;s&nbsp;COVID-19 vaccine&nbsp;plant now risks shutting down after receiving not a single order, a company executive said on Saturday.&nbsp;<a href="https://www.reutersconnect.com/all?search=all%3AL5N2WT0CQ&amp;linkedFromStory=true" target="_blank" rel="noreferrer noopener">Read full story</a></p>



<p>&#8220;We have said from the very beginning of the conversation on local production that market, market, market is the key to ensuring that we have a thriving local production, manufacturing enterprise,&#8221; said Ahmed Ogwell Ouma, deputy director of the Africa CDC.</p>



<p>&#8220;Our message is that we need to have all those who are purchasing vaccines at the global level for African countries, they need to purchase those from African producers first,&#8221; he said at a regular media briefing.</p>



<p>(Reporting by James Macharia Chege and Estelle Shirbon)</p>


Aspen_Place,_Durban_South_Africa

Africa CDC urges COVID-19 vaccine buyers to order from S.Africa’s Aspen


<p>As the South African economy is slowly and cautiously emerging from the devastation of the COVID-19 pandemic, organisations are starting to look to the future and what emerging trends hold for their business.</p>



<p>One such trend is the concept of the Metaverse which, in essence, represents the convergence of digital and physical world.&nbsp; It’s a 3D virtual space where users can gather as a group of avatars, interacting with one another in surroundings that replicate the physical world with select modifications.</p>



<p>It’s almost sounds like the real world and Sci-Fi is finally starting to cross paths, and ironically the idea is based on a Neal Stephenson’s book&nbsp;<em>Snow Crash&nbsp;</em>published 30 years ago.&nbsp;</p>



<p>The Metaverse concept opens a world of opportunities for users to try out various activities from travelling, shopping, trying on clothes and attending virtual concerts. And already major brands are entering the Metaverse, so to speak, eager to find a place in this immersive Internet experience.</p>



<p><strong>Preparing for the Metaverse</strong></p>



<p>The world is going through major digital and technological changes, which in turn means organisation must keep up with current customer demand while also remaining agile and ready for future economic environments.</p>



<p>And whilst the Metaverse is still a concept for now, given its immersive nature, it can present a myriad of opportunities for companies. Organisations must be ready to bring their digital presence to the next level once the Metaverse becomes a reality.</p>



<p>The opportunities are exiting, with the post-Covid hybrid or remote working environments, organisation should leverage these increasingly creative virtual business experiences to connect and collaborate with their own people, enhance their business process, and maintain a competitive edge.</p>



<p><strong>Bringing the Metaverse Closer to the Edge</strong></p>



<p>The Metaverse will undoubtedly be persistent and comprise of large amounts of information. Connecting to this digital reality will require fast and reliable online speed to manage the requisite bandwidth and interoperability demand.</p>



<p>However, latency can also become a major concern, and this is where edge computing bridges the gap. The Metaverse trend will further drive the adoption of edge computing as it is a key infrastructure that enables the Metaverse to reach full potential, enabling providers to scale their offerings sustainably.</p>



<p><strong>A sustainable, virtual world</strong></p>



<p>Unfortunately, with the increase in data volume, bandwidth, and continuous operations, comes higher energy usage and even more heat release from IT gear.</p>



<p>Leveraging existing infrastructure can help to reduce the formation of new and bigger data centres that could potentially negatively impact the environment. Already the pandemic resulted in an increase in data centre functionality, with the construction of hyperscale data centres spreading across the world due to the surge in cloud services that require large-scale servers and storage.</p>



<p>If the pandemic can bring about such a massive leap, the realisation of this virtual world integrating with our daily functions will require super computing power and sophisticated, edge computing-powered data centres.</p>



<p>It is therefore important that as companies move towards the Metaverse, and commission more data centres to support their individual offerings, they should work with experts to organise and prioritise data centre sustainability.</p>



<p>Organisations should review their current energy mix and consider clean technologies to address their carbon footprint and prepare for future expansion efforts like the Metaverse.</p>


Why big business is pumping billions into the metaverse

Opinion piece: The post-pandemic era and the Metaverse – are we ready?


<p></p>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="740" height="416" src="https://cms.cnbcafrica.com/wp-content/uploads/2022/03/106970721-1636033270223-gettyimages-1232591117-AFP_98Y9XM.jpeg" alt="" class="wp-image-415885" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2022/03/106970721-1636033270223-gettyimages-1232591117-AFP_98Y9XM.jpeg 740w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/106970721-1636033270223-gettyimages-1232591117-AFP_98Y9XM-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2022/03/106970721-1636033270223-gettyimages-1232591117-AFP_98Y9XM-160x90.jpeg 160w" sizes="auto, (max-width: 740px) 100vw, 740px" /><figcaption>A doctor monitors a Covid-19 patient in the Covid-19 intensive care unit of the community hospital in Germany on April 28, 2021.
RONNY HARTMANN | AFP | Getty Images</figcaption></figure>


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South Africa may be entering fifth COVID wave – health minister

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<p>With Nigeria&#8217;s new FX policy in place, the Manufacturers Association of Nigeria say the new policy may address the activities of the Bureau De Change operators but have also asked that banks provide a seamless process for the timely execution of FX application by manufacturers. Segun Ajayi Kadir, Director-General of Manufacturers Association of Nigeria joins CNBC Africa for more.</p>


M.A.N: CBN’S FX policy should support manufacturing

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<p>Okomu Oil Palm recorded a 74.6 per cent rise in half-year revenue, with post-tax profits for the period also rising by 138 per cent. CEO of Okomu Oil Palm Graham Hefer joins CNBC Africa to break down the drivers of their earnings.</p>


Okomu Oil Palm  half-year profit up 138%

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<p>Engineering workers affiliated to metal workers union Numsa have threatened to go on strike over a wage dispute with employers in the sector.</p>


Numsa threatens industrial action in steel and engineering sector

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<p>Almost 80 per cent  of Africa&#8217;s C-suite executives are optimistic about business growth this year. This is according to Mazars Global C-suite Barometer. This view is supported by the short term strategies that the surveyed businesses have implemented. Anoop Ninan, Co-CEO at Mazars joins CNBC Africa for more.</p>


Majority of Africa’s C-suite executives optimistic about growth outlook

Majority of Africa’s C-suite executives optimistic about growth outlook, survey finds

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<p>According to the Uganda Bureau of Statistics, the country&#8217;s economy increased to about $42.4 billion in the 2020/21 financial year $39.9 billion in the financial year 2019/20. The industry sector&#8217;s contribution increased to 16 per cent i in the 2020/21 financial year. Daniel Birungi, Executive Director at the Uganda Manufacturing Association spoke to CNBC Africa on building resilience and how the sector is navigating the storm.</p>


COVID-19: UMA’s Birungi on how to build resilience in Uganda’s manufacturing sector

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<p>The Government of Rwanda has successfully raised $620 million through the issuance of a 10-year Eurobond, the country’s Finance Ministry announced on August 2. The sale of new debt generated more than $ 1.6 billion in orders. Are investors increasingly interested in Rwanda? Kevin Daly, Fund Manager at Aberdeen Standard Investments spoke to CNBC Africa’s Julius Bizimungu for more.</p>


Making sense of Rwanda’s latest $620mn Eurobond issue

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<p>Royal Bafokeng Platinum reported a 446 per cent jump in headline earnings per share, for the six months ended June. This is from the previous comparable period. The company&#8217;s earnings were supported by strong metal prices and growth in the business. Royal Bafokeng Platinum CEO, Steve Phiri joins CNBC Africa for more.</p>


Royal Bafokeng Platinum delivers 466% jump in H1 HEPS

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<p>The buy now pay later online shopping model is adding more variety to online shopping and to the credit landscape. The trend has gained popularity in places like Europe and the US, with some big investors buying into the space. But what is the situation looking like in Africa? Payflex CEO, Paul Behrmanni joins CNBC Africa for more.</p>


How the ‘buy now pay later’ model is changing the credit landscape

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<p>Fintech startup, Kuda Technologies has raised $55 million in Series B funding. This is coming four months after they raised a $25 million series A round. Kuda Microfinance Bank CEO, Babs Ogundeyi joins CNBC Africa for more.</p>


Fintech startup Kuda Technologies concludes $55mn Series B funding

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<p>Lafarge Africa has declared 28.3 billion naira as profit in the first half of the year. Revenues also to 145 billion naira, CNBC Africa with the Chief Financial Officer of Lafarge Africa, Lolu Alade-Akinyemi for more.</p>


Lafarge Africa declares N28.3bn profit in H1

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<p>As Africa moves to deepen trade on the continent and its global partners, a complementary industry to drive this vision is the global shipping space. Captain Rahul Khanna says the shipping sector has shown great resilience through the pandemic as evidenced by the strong trade volumes. He is the Global Head of Marine Risk Consulting at Allianz Global Corporate and Specialty joins CNBC Africa to discuss the trends in that space.</p>


AGCS: Global ship losses decline 50% over 10 years

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<p>MTN Nigeria&#8217;s service revenue rose by 24 per cent in the first half of this year. The company&#8217;s revenue from data grew by 48.3 percent, while its fintech revenues also grew by 48.2 per cent as active subscriber base crosses the 6.1 million mark.  This year the mobile network operator will mark 20 years of operations in Nigeria and Chief Financial Officer at MTN Nigeria, Modupe Kadri  joins CNBC Africa for more.</p>


MTN Nigeria service revenue rises 24% in H1

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<p>It’s been rather busy in the low cost airline space in South Africa with airlines having to suspend and resume operations several times due to Covid-19 lockdown regulations. Well, new comer, Lift airlines has also has not been immune to these conditions. They resumed operations on Sunday after pausing during level 4 of the lockdown. Lift Co-Founder, Gidon Novick joins CNBC Africa for more.</p>


covid-19

WTO meeting on COVID vaccine rights waiver went ‘very well’ -chair

Africa CDC urges COVID-19 vaccine buyers to order from S.Africa’s Aspen

Opinion piece: The post-pandemic era and the Metaverse – are we ready?

South Africa may be entering fifth COVID wave – health minister

M.A.N: CBN’S FX policy should support manufacturing

Okomu Oil Palm half-year profit up 138%

Numsa threatens industrial action in steel and engineering sector

Majority of Africa’s C-suite executives optimistic about growth outlook, survey finds

COVID-19: UMA’s Birungi on how to build resilience in Uganda’s manufacturing sector

Making sense of Rwanda’s latest $620mn Eurobond issue

Royal Bafokeng Platinum delivers 466% jump in H1 HEPS

How the ‘buy now pay later’ model is changing the credit landscape

Fintech startup Kuda Technologies concludes $55mn Series B funding

Lafarge Africa declares N28.3bn profit in H1

AGCS: Global ship losses decline 50% over 10 years

MTN Nigeria service revenue rises 24% in H1

Why lockdown level 4 didn’t clip Lift’s wings?

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Advertise With Us

covid-19

WTO meeting on COVID vaccine rights waiver went ‘very well’ -chair

Africa CDC urges COVID-19 vaccine buyers to order from S.Africa’s Aspen

Opinion piece: The post-pandemic era and the Metaverse – are we ready?

South Africa may be entering fifth COVID wave – health minister

M.A.N: CBN’S FX policy should support manufacturing

Okomu Oil Palm half-year profit up 138%

Numsa threatens industrial action in steel and engineering sector

Majority of Africa’s C-suite executives optimistic about growth outlook, survey finds

COVID-19: UMA’s Birungi on how to build resilience in Uganda’s manufacturing sector

Making sense of Rwanda’s latest $620mn Eurobond issue

Royal Bafokeng Platinum delivers 466% jump in H1 HEPS

How the ‘buy now pay later’ model is changing the credit landscape

Fintech startup Kuda Technologies concludes $55mn Series B funding

Lafarge Africa declares N28.3bn profit in H1

AGCS: Global ship losses decline 50% over 10 years

MTN Nigeria service revenue rises 24% in H1

Why lockdown level 4 didn’t clip Lift’s wings?

News Tips

Advertise With Us

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