The global reception of the Covid-19 vaccine developed by Pfizer Inc in collaboration with BioNTech following the positive outcome of its phase 3 trial, seems to have intensified as it is set for approval by the UK medical regulator.
According to Reuters, a report from Financial Times on Saturday suggests that deliveries would commence within hours of the authorization with the first immunizations using the BioNTech and Pfizer vaccine possibly taking place from December 7.
The UK Prime Minister, Boris Johnson, had earlier in the day, named Nadhim Zahawi, who is the current junior business minister, as the minister responsible for the deployment of COVID-19 vaccines.
The UK government has placed an order for 40 million doses of the Pfizer and BioNTech vaccine, which has been found to be 95% effective in the final analysis of the phase 3 trials in preventing the spread of a virus that has killed over 1.4 million people across the world with its devastating impact on the global economy.
The UK government had on November 20, formally asked its medical regulator, the Medicines and Healthcare Products Regulatory Agency (MHRA), to conduct a study of the Pfizer-BioNTech COVID-19 vaccine with a view to determining its suitability, the first step in making it available outside the United State
The government which had secured 100 million doses of the Covid-19 vaccine developed by AstraZeneca and University of Oxford had also asked the regulator on Friday to assess the vaccine for a possible rollout before Christmas.
What you should know: The US drugmaker, Pfizer Inc, on November 18, 2020, announced that a final analysis of clinical-trial data of its experimental Covid-19 vaccine, which it is developing in collaboration with BioTNech, showed it was 95% effective, thereby paving the way for the company to apply for the first U.S. regulatory authorization for a coronavirus shot.
Pfizer said they had no serious safety concerns in a trial that involves almost 44,000 participants as their vaccine protected people of all ages and ethnicities.
Lack of vaccine access will reduce Africa’s economic growth compared to rest of world – IMF
IMF forecasts that Nigeria is expected to grow by 2.5% in 2021 and 2.3% in 2022.
The International Monetary Fund (IMF) has stated that a continued lack of access to vaccines will see Africa’s projected growth at 3.4% compared to the rest of the world at 6%.
The IMF disclosed this in its Regional Economic Outlook for Sub-Saharan Africa, April 2021, which was published on Thursday.
What the IMF said
- Despite turning out better than expected, growth in 2020 is estimated to have been the worst on record at –1.9 %, leading to a sharp spike in poverty.
- In 2021, the region’s economy is expected to resume expansion at 3.4%, weaker than the 6% for the rest of the world, amid a continued lack of access to vaccines and limited policy space to support the crisis response and recovery.
- Macroeconomic policies will in many countries entail some difficult choices. Saving lives remains the first priority, which will require access to affordable vaccines, ensuring that the logistical and administrative prerequisites of vaccination rollouts are in place, targeted containment efforts, and added spending to strengthen local health systems.
The IMF urged that African leaders needed to create more fiscal space and implement transformative reforms to unlock economic growth. These include mobilizing domestic revenue, strengthening social protection, promoting digitalization, and improving transparency and governance.
The body added that the need for reforms is to reduce debt and find a sustainable footing which would be a catalyst for longer-term growth and provide opportunities for the region’s new job seekers.
On growth projections
- IMF forecasts that Nigeria is expected to grow by 2.5% in 2021 and 2.3% in 2022.
- South Africa is expected to grow by 3.1% in 2021 and 2.0% in 2022.
- Kenya is expected to have higher growth at 7.6% in 2021 and 5.7% in 2022.
- Meanwhile, Ghana is forecasted to grow by 4.6% in 2021 and 6.1% in 2022.
In case you missed it
Nairametrics reported earlier this month that the International Monetary Fund had lifted its global growth outlook to 6% in 2021 (0.5% point upgrade) and 4.4% in 2022 (0.2 percentage point upgrade), after an estimated historic contraction of -3.3% in 2020, due to the effects of the COVID-19 pandemic.
Covid-19: SEC to launch N100 billion Strategic Health Impact Fund
Mr Lamido Yuguda, DG of SEC, stated that the purpose of the fund is to help Nigeria’s economic recovery from the pandemic.
The Securities and Exchange Commission (SEC) has announced that it will launch a N100 billion Strategic Health Impact Fund for Transformation (SHIFT) to help Nigeria’s economic recovery from the pandemic.
This was disclosed by Mr Lamido Yuguda, Director-General of SEC, at the 2021 post-Capital Market Committee conference in Abuja on Thursday.
The SEC boss revealed that the fund’s focus would be on healthcare assets in Nigeria, and reiterated the SEC’s commitment to improving Nigeria’s capital markets.
What the SEC DG said
“The pandemic and its attendant lockdown had negative effect on the Nigerian economy in the year 2020 leading to a recession within the year. Despite this challenge, the NSE All-Share Index was adjudged by Bloomberg as the best performing index in 2020.
In spite of the turbulence experienced with the outbreak of the pandemic, the Nigerian capital market stood resilient. To this end, our next phase of support in the fight against COVID-19 will be the establishment of the Strategic Health Impact Fund for Transformation.
May I use this medium to reiterate our commitment to advance the development and integrity of the Nigerian capital market.”
In case you missed it
Nairametrics reported last week that the SEC said that Fintech trading platforms including Chaka, Trove, Bamboo which allowed Nigerians to invest and trade in stocks listed on the Nigerian and foreign stock exchanges, had been declared illegal, citing provisions of Sections 67-70 of the Investments and Securities Act (ISA), 2007 and Rules 414 & 415 of the SEC Rules and Regulations, which state that only foreign securities listed on any Exchange registered in Nigeria may be issued, sold or offered for sale or subscription to the Nigerian public.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- CSCS Plc posts profit after tax of N6.93 billion in FY 2020
- BUA Cement Plc announces Board Meeting
- Infinity Trust Mortgage Bank Plc records a 60% increase in profit after tax in Q1 2021.
- Tantalizers Plc reports a loss after tax of N422.05 million in FY 2020.
- NASD Plc announces admission of newly demutualized NGX shares.