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Uganda Elections: Museveni re-elected for 6th term with 58.6% of the votes

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COVID-19 Update in Nigeria

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Business News
Bond Yields Trade Flat as Market Players Await Q3 Calendar Release
Welcome to Nairametrics‘ summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills and Bonds. This is brought to you by Zedcrest.
Published
2 years agoon

Welcome to Nairametrics‘ summary of the daily performance of major economic indicators and highlights from trading sessions and key statistics such as Treasury Bills and Bonds. This is brought to you by Zedcrest.
This report is dated July 9th, 2019.
***CBN unveils strategies to revive poultry sector***
Bonds: The FGN Bond market traded on a relatively flat note, with yields marginally higher by c.3bps on the day. Interests shifted to the long end of the curve, where investors showed renewed interest for the 30year bond, which currently boasts the highest yield on offer (14.40%) among the FGNs. A slowdown in demand interest on the short end however tilted yields marginally upwards on average.
We expect yields to remain relatively stable in the near term, as market players anticipate the release of the Q3 FGN Bond calendar by the DMO.
Treasury Bills: The T-bills market traded on a slightly bullish note, with some demand pressures observed on the mid to long end of the curve, due to the significantly buoyant system liquidity levels and continued lack of an OMO auction by the CBN. Yields were consequently lower by c.5bps on average.
[READ FURTHER: A trip to Sura Market reveals the good and bad of its Independent Power Project]
We expect demand interest to persist in the near term, as market players remain uncertain of an OMO auction, which may likely occur on Thursday, with c.N92bn in OMO maturities expected then.
Money Market: Rates in the money market remained stable, as there were no significant outflows from the system. The OBB and OVN rates consequently ended the session at 3.29% and 3.93%, with system liquidity closing the session at c.N530bn positive.
We expect rates to remain stable in the near term, as there are no significant outflows anticipated.
[READ THIS: Investors rally Nigerian Eurobonds as Access Bank calls back its 2021 maturity]
FX Market: At the interbank, the Naira/USD rate remained stable at N307.00/$ (spot) and N357.52/$ (SMIS). The NAFEX rate at the I&E window declined by 28k to N360.61/$, while the cash and transfer rates at the parallel market remained stable at N358.50/$ and N362.50/$ respectively.
Eurobonds: The NIGERIA Sovereigns dipped further as stronger US job gains dampened sentiments for a rate cut by the US Fed. Yields were consequently higher by c.9bps on the day.
Demand interests remained robust on the NIGERIA Corps, with renewed demand lifting prices higher in the FIDBAN 22s.
Contact us: Dealing Desk: 01-6311667 Email: [email protected]
Disclaimer: Whilst proper and reasonable care has been taken in the preparation and accuracy of the facts and figures presented in this report, no responsibility or liability is accepted by Zedcrest Capital or its employees for any error, omission or opinion expressed herein. This report is not an investment advice or a research recommendation and should not be regarded as such. The information provided herein is by no means intended to provide a sufficient basis on which to make an investment decision.
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Economy & Politics
Uganda Elections: Museveni re-elected for 6th term with 58.6% of the votes
Uganda’s President Museveni has won a 6th term in office as the opposition alleges wide-scale rigging.

Published
7 hours agoon
January 16, 2021
The President of Uganda, Yoweri Museveni, has been re-elected as President, gathering 5.85 million votes compared to 3.48 million votes by main opposition leader, Robert Kyagulanyi, a.k.a Bobi Wine.
According to Reuters, this victory represents 58.6% of the vote cast while Bobi Wine got 34.8%
Bobi Wine announced that the election results show this is the most fraudulent election in the history of Uganda and urged his followers to reject the result.
What you should know
- Yoweri Museveni, aged 76, has been President of the East African nation since 1986.
- Bobi Wine claimed via his official Twitter handle that military men jumped over his fence and took control of his home yesterday.
Coronavirus
Combined Vaccine Manufacturing capacity to hit 6.8 billion doses in 2021
COVID-19 vaccine manufacturing capacity is expected to hit 6.8 billion doses in 2021.

Published
9 hours agoon
January 16, 2021
Meristem Group disclosed that the combined effort in manufacturing COVID-19 vaccines for global use is expected to yield about 6.8 billion doses in 2021.
This was revealed in the Annual Outlook 2021 report presented by Meristem Group, titled “Bracing for a different future.”
According to the report, the existing manufacturing capacity will only be sufficient enough to immunize about 44% of the global population, which would create obvious vaccination gap and make the pandemic last longer than necessary.
The report states,
- “The cold temperature requirements for vaccine storage pose major logistics concern particularly in Sub-Saharan Africa and other low-income countries. WHO estimates that about 50% of vaccines are wasted every year, largely due to a lack of temperature control.”
According to the report, the estimated 6.8billion doses are expected to be collaboratively manufactured as follows: CanSino – 0.2billion, AstraZeneca – 3.0 billion, Gamaleya – 0.3billion, Moderna – 0.4billion, Pfizer-BioNtech – 1.3billion, SinoPharm – 1billion, and SinoVac – 0.6billion.
What you should know
- The global population as of 2020 is 7.8billion and 70% is required to achieve herd immunity (otherwise called herd protection)
- Herd Immunity or herd protection is achieved when you have most of the population immunized against an infectious disease.
- 2 doses of the vaccines are required for each person for immunity.
- It is expected that between 11 and 15 billion doses would be required to achieve the desired herd immunity, globally.
- From all indications, herd immunity may not be achieved until mid or late 2022, with the subsisting 100% vaccine production capacity utilization in 2021 – with neither production nor distribution losses.
- To achieve regulatory approval, a vaccine must undergo a three-stage clinical development process after the exploratory and pre-clinical stages and the U.S Food and Drug Administration (FDA) sets a phase 3 efficacy benchmark of 50%.
Coronavirus
Covid-19: Global deaths surpass 2 million
Global casualty record for the Covid-19 pandemic surpassed 2 million deaths on Friday.

Published
15 hours agoon
January 16, 2021
The Global casualty record for the Covid-19 pandemic surpassed 2 million deaths on Friday, with the United States accounting for 1 in every 5 deaths, as it has recorded over 386,000 casualties so far.
This was disclosed in a report by Reuters in its Covid-19 tally reported on Friday evening.
After the United States, Brazil, Mexico, India and the U.K contribute nearly 50% of the combined casualties.
The report also disclosed that an average of 11,900 casualties are recorded per day in year 2021, despite the fact that it took 9 months for the world to record 1 million casualties.
United Nations Secretary-General, Antonio Guterres, said the 2 million death count was “a heart-wrenching milestone.”
- “Behind this staggering number are names and faces: the smile now only a memory, the seat forever empty at the dinner table, the room that echoes with the silence of a loved one,” he added.
The WHO warned that 2021 could be tougher due to the nature of new variants which transmit the disease faster.
- “We are going into a second year of this. It could even be tougher given the transmission dynamics and some of the issues that we are seeing,” WHO Chief, Mike Ryan, said.
Analysts expect the global death toll to surpass 3 million by April 2021.
What you should know
- Nairametrics reported that the total number of covid-19 cases in Nigeria had surpassed the 100,000 mark on Sunday 10th January 2021, according to the Nigeria Centre for Disease Control.
- The African Union stated that it secured 270 million Covid-19 vaccine doses for the continent from drug manufacturers to supplement the COVAX programme, a step towards the commencement of the complex task of vaccinating over 1.2 billion people with limited financial resources.
- The Nigeria Centre for Disease Control on Friday 15th January 2021, announced that 1,867 new cases of the covid-19 virus were recorded across 24 states in the country. This represents the highest number of cases recorded in a single day.
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