The latest COVID-19 daily update report as of November 28th, 2020 shows that there are cumulative confirmed cases of 1,411,393 in Sub-Saharan Africa.

Out of the growing number, South Africa, Ethiopia, Kenya, Nigeria, and Ghana top the list with a total of 1,095,410 confirmed cases, representing 77.6% whilst the other 41 member-countries of the sub-region contributed 22.4%.

According to the report, South Africa tops the list with a cumulative confirmed case of 785,153 (55.6%), followed by Ethiopia 109,247 (7.7%), Kenya 82,605 (5.9%), Nigeria 67,330 (4.8%), and Ghana 51,075 (3.6%).

What you should know

• There are 55 countries in Africa out of which 46 countries are from the sub-Saharan African region.
• There are cumulative confirmed cases of 2,137,871 and deaths of 51,248, CFR(Case fatality rate) of 2.4%.
• In Sub-Saharan Africa, there are cumulative confirmed cases of 1,411,393 and deaths of 31,342, CFR of 2.2%.

(READ MORE: ECOWAS COVID-19: Nigeria drops to 7th position in recovery rate)

• The Sub-Saharan Africa cumulative confirmed cases and deaths represent 66% and 61.2% of entire Africa’s figure respectively.
• Chad with 6.1% topped the list on CFR, followed by Liberia with 5.2% and Sao Tome & Principe 4.8% with the least coming from Eritrea 0%, followed by Burundi 0.1%.
• 5 countries contributed to 84% of deaths in the region and they are South Africa, Ethiopia, Kenya, Nigeria, and Cameroon.
• South Africa tops the list of cumulative deaths with 21,439 (68%), followed by Ethiopia 1,701 (5.4%), Kenya 1,445 (4.67%), Nigeria 1,173 (3.7%), and Cameroon 462 (1.5%).
• The least in the cumulative confirmed case comes from Eritrea with 577 followed by Burundi 684 as well as in the least cumulative death of 0 for Eritrea and 1 for Burundi.

The market capitalization of Dangote Cement Plc increased from N2.73 trillion at the open of trade on the 2nd of November 2020, to N3.49 trillion at the close of trade on the 30th of November.

Further checks revealed that the market capitalization of Dangote Cement Plc increased by 28.13% during the period under review.

The drive behind the gains

It is important to note that the increase in Dangote Cement’s market capitalization was driven by the renewed buying interests by investors in key Nigerian stocks with huge values and impressive fundamentals.

This hunt for value on the bourse led to a wild increase in the share price and also the market capitalization of key companies on the Nigerian Stock Exchange in the month of November.

(READ MORE: Dangote Cement gains ₦273 billion on NSE since release of its 2020 Q3 report)

However, the renewed buying interest can be attributed to the strong performance which Dangote Cement displayed in the third quarter of 2020, despite the challenging macroeconomic environment.

Given the strategic positioning of the cement producer in the industry,

• Dangote cement reached a record high EBITDA margin of 24% in the third quarter of 2020.
• Group net profit of N82 billion, which is 135.1% higher than the profit reported by the Group in the third quarter of 2019.

This strong performance made analyst review their models, and also the Group’s valuation, this however triggered buying pressures in the shares of Dangote Cement, with its market capitalization increasing by 28.13% in the period under consideration.

What you should know

• Market capitalization is the aggregate valuation of a company based on its current share price and the total number of outstanding stocks.
• Market capitalization tells how much investors value a company, and gives an idea of what a company is worth on the stock exchange, as well as investors’ perception of a company’s future prospects.

In a bid to attract “the brightest and the best from around the world,” the UK Government has announced that applications for skilled workers visas can commence.

This was announced by the UK’s Secretary of State, Priti Patel, in a statement on Tuesday evening.

What you should know 

The UK Government had hinted earlier this year that it planned on exiting the European Union, and thereafter, it would introduce a point-based immigration system widely used by both Canada and Australia.

“We are ending free movement and will introduce an Immigration Bill to bring in a firm and fair points-based system that will attract the high-skilled workers we need to contribute to our economy, our communities, and our public services. We intend to create a high wage, high-skill, high productivity economy,” the government stated in February 2020.

The UK disclosed on Tuesday that points would be given to applicants “awarded for a job offer at the appropriate skill level, knowledge of English, and being paid a minimum salary. Skilled worker visas will be awarded to those who gain enough points.”

(READ MORE: Why UK allegedly protected Nigeria from trade sanctions – Report)

It stated that the new immigration scheme would ensure that businesses could hire skilled applicants from across the globe to boost their economy,

“It will also encourage employers to focus on training and investing in the UK workforce, driving productivity and improving opportunities for individuals, especially those impacted by a coronavirus.”

Home Secretary, Rishi Sunak, disclosed that:

• This government promised to end free movement, to take back control of our borders, and to introduce a new points-based immigration system. Today, we have delivered on that promise.
• This simple, effective, and flexible system will ensure employers can recruit the skilled workers they need, whilst also encouraging employers to train and invest in the UK’s workforce.
• We are also opening routes for those who have an exceptional talent or show exceptional promise in the fields of engineering, science, tech, or culture.

(READ MORE: United States announces changes to work permit visas that could affect Nigerians)

Additional details

The skilled worker’s visa lasts for 5 years and can be renewed when expired. It requires applicants to have jobs paying at least £25,600 per year unless the ‘going rate’ for that job is higher.

Applicants will need to prove their identities and provide documents, Also, the process will require 3 weeks for a decision to be made after all necessary documents are provided.

“They will need to have enough money to pay the application fee (ranging from £610 to £1,408), the healthcare surcharge (usually £624 per year) and be able to support themselves (usually by having at least £1,270 available),” the UK government said.