Cape Town Finance – Bungeni http://bungeni.org/ Sun, 02 Jan 2022 09:38:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://bungeni.org/wp-content/uploads/2021/05/bungeni-icon-150x150.png Cape Town Finance – Bungeni http://bungeni.org/ 32 32 How to effectively fight addiction https://bungeni.org/2022/01/02/how-to-effectively-fight-addiction/ Sun, 02 Jan 2022 09:38:17 +0000 https://bungeni.org/2022/01/02/how-to-effectively-fight-addiction/

University of Cape Town counseling psychologist Bathandwa Mazeka offers strategies for coping with drug addiction.

A new year is a new beginning and different choices for many people.

Some people might consider getting rid of an addiction that might be more difficult than expected.

Speaking to Ray White, Mazeka explains some long term strategies for overcoming addiction.

The first step in getting help and dealing with the addiction is admitting that there is a problem, the substance I am taking or the gambling I am playing is problematic.

Bathandwa Mazeka, Consulting Psychologist – University of Cape Town

With most substances it is not easy (cold turkey), but some people are able to overcome it immediately using willpower and discipline.

Bathandwa Mazeka, Consulting Psychologist – University of Cape Town

It is not a good idea to replace one addiction with another. It is not really an effective long term strategy for dealing with addiction.

Bathandwa Mazeka, Consulting Psychologist – University of Cape Town

Listen to the full interview below:

This article first appeared on 702: How to Fight Addiction Effectively

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Which cities on the continent are the most sought after by expats? https://bungeni.org/2021/12/31/which-cities-on-the-continent-are-the-most-sought-after-by-expats/ Fri, 31 Dec 2021 15:23:20 +0000 https://bungeni.org/2021/12/31/which-cities-on-the-continent-are-the-most-sought-after-by-expats/

By Conrad Onyango – Bird Newsroom

If you’re looking for the best cities in Africa to work in and start a new life in 2022, Nairobi should be your top choice, then Cape Town, followed by Cairo and Johannesburg, reveals a new global report.

Nairobi, the capital of Kenya, has been classified first in Africa and 12th globally in the Expat City Ranking 2021 by InterNations, the largest expat community in the world. Expats place great importance on the social life of the city, characterized by a vibrant nightlife and the ease of finding affordable accommodation.

According to the Index, nearly four in five expats in Nairobi (78%) describe local residents as generally friendly compared to 69% globally, while 62% find it easy to make new friends compared to 48% in the world.

“Expats in Nairobi agree that 74% are satisfied with their social life, 17 percentage points above the global average (57%),” says the ranking which surveyed 12,420 respondents in 57 cities.

Nairobi overturns its African peers in the Getting Settled (fourth) and Finance and Housing (sixth) indices which rank among the top ten cities in the world.

More than eight in ten expats say they have no difficulty finding accommodation, 49% find affordable accommodation in Nairobi, and there is overall expat satisfaction with their job. financial position, disposable income and affordability.

Cape Town (41) also scores well in finance and housing (13th), settling (15th) and local cost of living (18th) with unlimited leisure options in the southern city. -African, helping expatriates to enjoy social life and to feel “at home”. .

“Cape Town even ranks third in the Leisure and Climate sub-category with 81% satisfied with local leisure options. A British expatriate notes that there is a “beautiful outdoor lifestyle thanks to the good weather”, explains the investigation report.

User-friendliness and low cost of living continue to resonate on the continent with also Cairo and Johannesburg although placed in the bottom ten of the general classification, showing better performances in creating friends and access to affordable food and housing.

Cairo (52) has its best ranking in the local cost of living index (7th), followed by the finance and housing index (19th) and the installation index (26th).

“Almost three in five expats say finding friends in Cairo is easy and 70% describe local residents as generally friendly, ”according to the survey.

Johannesburg closed the list of vibrant and exciting African cities to look out for, performing better in the ease of settling (29th) and finance and housing (24th) indices.

The three African cities – Cairo, Johannesburg and Cape Town rank among the bottom ten in terms of urban quality of life and urban working life indices – with the exception of Nairobi, which comes in 34th place in this last index.

However, most expats would like to see improvements in the public transport system in Nairobi, their job security and political instability in Cape Town, as well as health and the environment in Johannesburg and Cairo.

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15 Food Items That Got Exceptionally More Expensive In 2021 – And One That Got Much Less Expensive https://bungeni.org/2021/12/30/15-food-items-that-got-exceptionally-more-expensive-in-2021-and-one-that-got-much-less-expensive/ Thu, 30 Dec 2021 05:04:19 +0000 https://bungeni.org/2021/12/30/15-food-items-that-got-exceptionally-more-expensive-in-2021-and-one-that-got-much-less-expensive/

The latest household affordability index from the Pietermaritzburg Economic Justice & Dignity (PMBEJD) group shows that food prices increased slightly in December 2021, after a slight drop in prices in November.

Data from the civil society initiative, however, showed that, on a year-over-year basis, basket prices rose 6.8%, exceeding headline inflation.

The group’s food basket totaled R4,275.94 in December, up R3.50 (0.01%) from R4,272.44 in November – indicating relatively stable prices over the past month. However, the same basket in December 2020 was 4,002.42 Rand, which means households are paying 273.52 Rand more (6.8%) than a year ago.

Statistics South Africa‘s latest consumer price index for October 2021 shows headline inflation to be 5%, and for the lowest spending quintiles 1 to 3 it is 6.5%, 6% and 5.2% respectively. The food CPI inflation is 6.7%. The producer price index for October 2021 shows that agricultural inflation was 8.7%.

The main point of contention regarding the inflation figures is that wages and salaries are negotiated based on headline inflation. The national minimum wage is often only increased by the aggregate CPI, and social allowances have recently been increased at rates well below the CPI.

This creates a scenario where the amount entering does not match the increase in the basic cost of living, pushing the poorest into poverty.

An example of this can be seen with the recent recommendations of the National Minimum Wage Commission that the NMW be increased by CPI + 1% for 2022. On paper, this appears to be an increase greater than inflation – however, if l The CPI for the poorest households is considered to be 6.5%, which is a lower wage, in real terms.

Considering PMBEJD data, even though the wage increase was at CPI + 1.5% to correct this, food inflation – at 6.8% – is still higher than that.

Food prices

The basket includes 44 basic food items most frequently purchased by low-income households, which constitute the majority of households in the country. Seventeen of 44 foods have fallen in price in the past month; 24 foods increased and three items remained unchanged.

These were the most significant changes, when prices increased or decreased by 10% or more.

Food prices from November 2021 to December 2021 – big changes

  • Oranges: + 19%
  • Carrots: + 17%
  • Potatoes: -16%
  • Butternut: -21%


Food prices December 2020 to December 2021 – big changes

Year-over-year changes are larger, according to group data, with the same basket costing 6.8% more – more than headline inflation.

Consumers pay more almost everywhere, with only eight of 44 items falling in price, and only one significantly (above 10%). In contrast, the price of 35 food items rose, 26 of which were above headline inflation.

Here are the most significant changes, greater than 10%:

  • Cooking oil: + 30%
  • Gizzards: + 31%
  • Liver of beef: + 30%
  • Poultry livers: + 22%
  • Beef: + 17%
  • Sugar grains: + 17%
  • Spinach: + 15%
  • Fish: + 14%
  • Apples: + 13%
  • Frozen Chicken Portions: + 12%
  • Eggs: + 11%
  • Worse : + 11%
  • Margarine: + 11%
  • Samp: + 10%
  • Canned beans: + 10%
  • Oranges: -31%

At the regional level, the difference in the cost of the total household food basket in Johannesburg, Durban and Cape Town is constant at around ± R150. Springbok and Pietermaritzburg tend to be outliers in the data (Springbok being the highest and Pietermaritzburg the lowest).


Read: National Minimum Wage Commission recommends 20% increase for domestic workers in 2022

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Desmond Tutu a peacemaker and troublemaker https://bungeni.org/2021/12/26/desmond-tutu-a-peacemaker-and-troublemaker/ Sun, 26 Dec 2021 08:01:08 +0000 https://bungeni.org/2021/12/26/desmond-tutu-a-peacemaker-and-troublemaker/

Desmond Tutu, who died at the age of 90, relished his role as South Africa’s troublesome priest.

He rejected criticism of his high political visibility during the black liberation struggle on the grounds that apartheid was “by its nature evil, immoral and absolutely irreconcilable with the word of God”.

His steady rise in the church hierarchy to Archbishop of Cape Town, leader of 2.5 million Anglicans in southern Africa, has not changed his playful sense of humor or his preference for plain language. .

“Call me Arch,” read a T-shirt he wore during the end of apartheid for a protest jog along the beach. His sermons and interviews were also spiced with disrespect.

Desmond Mpilo Tutu was born on October 7, 1931 in Klerksdorp west of Johannesburg, the son of the principal of a Methodist school. A child plagued by illness in his early years, he was given the name Mpilo, which means “life”.

He didn’t have the money to study medicine the way he wanted, so he became a teacher instead, soon turning to theology.

At the age of 30, he became a priest in the Anglican Church and went to King’s College London to continue his studies. In 1975 he was back in troubled South Africa as Dean of Johannesburg.

He quickly gained a reputation for his strong condemnation of apartheid, but his growing international fame made him a difficult target for the increasingly repressive government.

Nonetheless, his passport was withdrawn in 1980 and 1981 for his advocacy for economic sanctions as the only peaceful means of pushing for change.

In 1976, Tutu became bishop of the small mountain kingdom of Lesotho, returning in 1978 to Johannesburg to lead the South African Council of Churches in its anti-apartheid campaign. His tireless efforts for change through peaceful means won him the 1984 Nobel Peace Prize.

After two years as Bishop of Johannesburg, Tutu was elected Archbishop of Cape Town in 1986 as the violence peaked. “Friends, like you, I hate violence,” he told thousands of people gathered in Cape Town to celebrate his induction.

During the last few years of white minority rule, Tutu has repeatedly called for sanctions, led protest marches, and used his pulpit to challenge escalating state repression.

After the release of black leaders and the election of Nelson Mandela as the first Democratic president, Tutu assumed a new role as chairman of the country’s Truth and Reconciliation Commission.

The TRC investigated the apartheid atrocities, and Tutu begged South Africans – black and white – to reconcile, often bursting into tears when the victims testified.

He went on to become a thorn in the side of the black-led government, criticizing it for corruption, elite privilege and failure to eradicate poverty.

In May 2013, Tutu withdrew its support for the ruling African National Congress – Mandela’s party – describing South Africa as “the most unequal society in the world”.

He was a vocal critic of former President Jacob Zuma, who was forced to resign in 2018 following numerous corruption scandals and is still on trial.

He has also worked to raise awareness of poverty, AIDS and the lack of democracy in developing countries.

On social issues, Tutu has taken liberal positions, declaring that he will not worship a “homophobic God” and encouraging men to stand up for women’s rights.

From 2007 to 2013, Tutu chaired The Elders, an independent group of world leaders working together for peace and human rights.

He was a critic of former US President Donald Trump, as well as a staunch supporter of the Palestinian people.

In 2019, l’Arche met Prince Harry, Meghan Markle and their grandson Archie during the royal family’s visit to South Africa.

Later that year, the ardent rugby fan met the national rugby team to celebrate their World Cup victory held in Japan, wearing a green Springbok T-shirt.

More recently, it has indirectly influenced international vaccine policies during the coronavirus pandemic.

Its foundation said earlier this year that more needs to be done “immediately” to ensure low-income countries have faster access to Covid-19 vaccines, diagnostic tools and treatments.

After battling prostate cancer for years, his health has deteriorated again recently, with a spate of hospitalizations for conditions described as infections or inflammation.

Tutu is survived by his wife Leah, four children and seven grandchildren.

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Miami most popular US migration destination for 4th consecutive month https://bungeni.org/2021/12/21/miami-most-popular-us-migration-destination-for-4th-consecutive-month/ Tue, 21 Dec 2021 13:00:00 +0000 https://bungeni.org/2021/12/21/miami-most-popular-us-migration-destination-for-4th-consecutive-month/

Homebuyers’ interest in moving to a new metropolitan area remains high above pre-pandemic levels, with around 30% of Redfin.com users looking to relocate

SEATTLE, December 21, 2021 / PRNewswire / – (NASDAQ: RDFN) – Nationwide, 30.3% of Redfin.com users sought to relocate to another metropolitan area in October and November, according to a new report by Redfin (redfin.com), technology-based real estate brokerage. That’s down from a record 31.5% in the first quarter of 2021, but well above pre-pandemic levels.

Redfin Logo (PRNewsfoto / Redfin)

The interest of homebuyers to move to another part of the country has accelerated as the coronavirus pandemic took hold in the first half of 2020 and peaked at the start of this year before declining slightly and subsiding. stabilize. Redfin.com users are showing much more interest in moving than before the pandemic, when levels were between 25% and 26%.

“At the start of the pandemic, remote working gave homebuyers the opportunity to consider a new location,” said Redfin’s chief economist. Daryl fairweather. “Now the job market is incredibly tight, which means even homebuyers with in-person jobs can move to a new location and be confident that they can find a job in their new city. “

influx of buyers South florida keep on going

Miami was the most popular migratory destination of all major US metropolises for the fourth consecutive month. Comes next Phoenix, Las Vegas, Sacramento and Tampa. two others Florida subways are also in the top 10, with Cap Corail take seventh place and North Port arriving 10th. The popularity of migration destinations is determined by the net inflow, a measure of the number of Redfin.com home seekers who have sought to move into a subway rather than leaving it.

Florida has become an especially popular destination this year as remote workers and retirees flock to the state in search of beaches, warm temperatures, low taxes, and more affordable housing than large cities on the East Coast or the Western coast. Net entry into Miami has almost tripled since the same period last year, and net entries into Tampa almost doubled, with New York as the number one origin for Redfin.com users moving to both areas.

“More than half of my active clients are either investors or people who move from places like California, Oregon, New York and New JerseyMiami Redfin agent said Cristina Llanos. “Movers tend to be young remote workers who move to Miami for affordability and sun. A customer said he was coming to Miami because they hate snow; another wants to raise his children in a multi-ethnic city. “

Table: Top 10 metros by net inflow of users and their main origins

Rank

Metro*

Net entry,
October &
November
2021??

Net entry,
October &
November
2020

Part of
Searches for
Users outside
Metro, October
& November
2021

Part of
Searches for
Users outside
Metro, October
& November
2020

Superior origin

Top exit
state
Origin

1

Miami, Florida

9 376

3 170

32.0%

26.4%

New York, New York State

New York, New York State

2

Phoenix, Arizona

8 683

7 664

35.4%

36.2%

Los Angeles, CA

Los Angeles, CA

3

Las Vegas, Nevada

6 610

7 819

42.5%

52.1%

Los Angeles, CA

Los Angeles, CA

4

Sacramento, California

6,403

7 945

40.8%

49.1%

San Francisco, California

Seattle, WA

5

Tampa, Florida

6,011

3,950

45.8%

56.4%

Orlando, Florida

New York, New York State

6

Dallas, Texas

5 103

5 955

25.3%

31.4%

Los Angeles, CA

Los Angeles, CA

seven

Cape Coral, Florida

4.366

3,154

67.1%

75.1%

Chicago, Illinois

Chicago, Illinois

8

San Antonio, Texas

4 345

2,265

42.9%

44.0%

Houston, TX

Los Angeles, CA

9

Atlanta, Georgia

4,164

6 459

20.0%

26.7%

New York, New York State

New York, New York State

ten

North Port, Florida

4,044

2,211

65.2%

77.1%

Chicago, Illinois

Chicago, Illinois

* Statistical areas combined with at least 500 users in Q4 2021

† Negative values ​​indicate net output; among the million users sampled for this analysis alone

Home buyers are leaving big cities like San Francisco, Los Angeles and New York

San Francisco, Los Angeles, New York, Washington DC and Seattle Topping the list of places Redfin.com users seemed to be leaving in October and November. This is by net exits, a measure of the number of Redfin.com home seekers who have sought to leave a subway rather than move into it.

Large, expensive coastal cities are usually at the top of the list of places Redfin.com users seek to leave, a trend that has accelerated with the pandemic and remote work options. Many city dwellers in white collar jobs can work remotely from more affordable places with plenty of recreational opportunities.

Table: 10 main metros by net user exit and their main destinations

Rank

Metro*

Net output,
October &
November
2021

Net output,
October
& November
2020

Part of
Local users
Research
Somewhere else,
October &
November
2021

Part of
Local users
Research
Somewhere else,
October &
November
2020

High
Destination

Top exit
state
Destination

1

San Francisco, California

41,407

33 710

22.9%

24.0%

Sacramento, California

Seattle, WA

2

Los Angeles, CA

33 889

20 879

19.2%

18.0%

San diego, california

Phoenix, Arizona

3

New York, New York State

23,320

37,447

26.7%

35.2%

Philadelphia, Pennsylvania

Philadelphia, Pennsylvania

4

Washington DC

15,805

10 282

14.7%

12.9%

Salisbury, MD

Salisbury, MD

5

Seattle, WA

13 128

2,528

16.3%

14.1%

Phoenix, Arizona

Phoenix, Arizona

6

Boston, Massachusetts

7 815

312

15.9%

12.2%

Portland, ME

Portland, ME

seven

Chicago, Illinois

5 678

5 819

12.5%

12.3%

Cape Coral, Florida

Cape Coral, Florida

8

Denver, CO

2,675

4,433

25.6%

27.7%

Chicago, Illinois

Chicago, Illinois

9

Minneapolis, Minnesota

1,518

-977

22.2%

18.2%

Chicago, Illinois

Chicago, Illinois

ten

Detroit, Michigan

1313

710

23.8%

22.6%

Grand Rapids, Michigan

Chicago, Illinois

* Statistical areas combined with at least 500 users in Q4 2021

† Of the 1 million users sampled for this analysis alone

To read the full report, including additional charts and metropolitan-level highlights, please visit: https://www.redfin.com/news/november-2021-housing-migration-trends/

About Redfin
Redfin (www.redfin.com) is a technology-driven real estate company. We help people find housing through brokerage, Instant Home Buyers (iBuying), rentals, loans, title insurance and renovations. We sell houses for more money and charge half the cost. We also manage the first real estate brokerage site in the country. Our homebuying clients see homes with on-demand tours first, and our loan and title services help them close quickly. Customers selling a home can receive an instant cash offer from Redfin or have our home improvement team fix their home to sell it for the best price. Our rental business enables millions of people across the country to find apartments and houses for rent. Since our launch in 2006, we have saved more than $ 1 billion in committee. We serve over 100 markets across the United States and Canada and employs over 6,000 people.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn more about housing market trends and download data, visit Redfin Data Center. To be added to Redfin’s press release mailing list, send an email press@redfin.com. To consult the Redfin press center, Click here.

Cision

Cision

View original content to download multimedia: https://www.prnewswire.com/news-releases/miami-is-the-most-popular-us-migration-destination-for-the-4th-straight-month-301448823 .html

SOURCE Redfin

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How moove can now lead to victory for Uber, its drivers and passengers | The Guardian Nigeria News https://bungeni.org/2021/12/18/how-moove-can-now-lead-to-victory-for-uber-its-drivers-and-passengers-the-guardian-nigeria-news/ Sat, 18 Dec 2021 01:07:00 +0000 https://bungeni.org/2021/12/18/how-moove-can-now-lead-to-victory-for-uber-its-drivers-and-passengers-the-guardian-nigeria-news/

Sixteen days ago, Uber showed me its other face. It was shockingly not pretty. It was one of those days, days when the metropolis of Lagos found itself squeezed by the throat of ruthless traffic jams. I had ordered a ride, but what came up was definitely the dirtiest Uber in the world. At that point, as the decrepit automobile idled in front of me, Moove – the new car finance company – started to make a lot more sense, especially for situations like the one I just found myself in. to regain.

You see, Moove has always justified its existence by its intention to help more Nigerians acquire new cars. Why does he want to do this? Because research has shown that Nigerians don’t buy new cars.

Why didn’t Nigerians buy new cars? Was it because Nigerians were allergic to the intoxicating smell of new cars? Oh no, nothing like that.

Nigerians weren’t buying new cars because Nigerians, like millions of other Africans, just couldn’t afford the full cost of a new car up front. Now, if you look at the statistics proving this fact, you might be so surprised that you might think that some evildoer has used the numbers to engage in great racial disparagement.

According to the findings of research firm Modor Intelligence, less than one percent of global car sales are in Africa. In 2019, for example, the number of new cars sold in the United States alone was 17 million. But right here in Africa, with a population of over a billion, not all new cars bought across the continent were as many as a million.

So Ladi Delano and Jide Odunsi, two Nigerian businessmen who previously worked in the health and media sectors, reflected on the problem. They thought to themselves: why not check out what tech company could be launched to lift the obscene barricade that could prevent Africans from enjoying this hypnotic pleasure of a new car smell.

Delano said people are not buying cars “because there is no access to finance”. What “drives mobility” in economies as large as the UK and the US, he told TechCrunch, is that “you have funding in most parts of the world. developed when trying to buy a car ”.

So, Moove launched with what has now become a widely acclaimed business model. It would help Africans buy new cars, starting with ‘mobility entrepreneurs’, aka taxi drivers, aka Uber drivers.

Moove has become Uber’s official vehicle financing and procurement partner in sub-Saharan Africa. Moove would provide financing to drivers at a rate much lower than that offered by banks. The loans would last up to five years, with weekly repayments being directly deducted from drivers’ income, which would be tracked directly on the Moove app.

Proof of the idea that this is obvious, Moove, which officially opened in June 2020, blew up the door, fueled by a funding round of $ 5.5 million. One of its early stage investors is the legendary Iyin Aboyeji, co-founder of Flutterwave – the fintech unicorn – and Venture Africa – a pan-African investment firm.

As of August 2021, Moove had raised an additional $ 23 million in Series A and $ 40 million in debt financing. Today, Moove, powered by its partnership with Uber, has expanded beyond Lagos to Accra, Johannesburg and Cape Town. He pledged to continue to go deeper into the continent.

But was I thinking of one of Moove’s jaw-dropping continental races 16 days ago before cautiously and reluctantly seated myself in the world’s dirtiest Uber? No.

In fact, I was dressed to perfection in a dark blue suit, standing in shiny black shoes, eagerly awaiting a corporate bum night. A few onlookers might have said that I looked like a million bucks and as you would expect from anyone who looked like a million bucks, the original plan was for me to get to where I was headed… what do- they repeat… style.

But then again, thanks to a chain of Friday night traffic jams through Lagos, trips were scarce and beggars could not choose, especially when the beggars in question had given up on any idea of ​​driving themselves due to the devitalizing traffic jams. aforementioned.

Thirty minutes later, after ordering the ride, a 2006 Toyota Avensis pulled up in front of me and the thing may have been washed in dirt.

Inside, a black plastic bag, glistening with fried oil, lay tight against the driver’s armrest. Also, there was ragged carpet, obviously unwashed gray upholstery, and dust. Thank goodness for the masks.

This ride was a shame as I had always associated Uber with consistent quality – courteous drivers, washed cars, punctual arrivals. Finding myself in the Uber Uber’s universe was totally disorienting. It made me now evaluate the new clean cars in the Uber fleet and how they have become.

So I interrupted my sad Uber trip halfway, because no one should ever have to pay for their own mistreatment.
I called another Uber. In about 10 minutes he found me. It was a 2015 Toyota Corolla. Almost immaculate inside and out. “Nice car,” I say to the driver.

“Oh, thank you,” he said.
I moved inside. Took a few selfies for WhatsApp status. “Is this your personal car? ” I said.
The driver, a young thirty-something, slowly shook his head. – Uh, well, he said. “It’s a motivation to have. “
“Lead to own!” Nice… from Uber? “
“No. There is this company called Moove.
“Get moving. I know Moov. Interesting.”
“Yeah.”
“Do you mind telling me how much you got?” “
“Five point two M.”
“For real? How long do you have to pay for this?”
“I chose three years.
“Wow. It’s daring!

This man would have to work hard to pay off the 5.2 million naira in three years, but he’s an entrepreneur, isn’t he? An entrepreneur is nothing but a person with a plan.

Here’s the thing, though: It’s one thing to write, or read, about new startups that take bold action. It is quite another to feel the impact of such start-ups in real life.

Sixteen days ago, after two back-to-back but hugely disparate car trips on the same rideshare app, I couldn’t have felt Moove’s pioneering program any stronger than I have.

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Small study of South African patients shows Omicron succeeds with booster shots https://bungeni.org/2021/12/16/small-study-of-south-african-patients-shows-omicron-succeeds-with-booster-shots/ Thu, 16 Dec 2021 15:01:29 +0000 https://bungeni.org/2021/12/16/small-study-of-south-african-patients-shows-omicron-succeeds-with-booster-shots/

By Tim Cocks

JOHANNESBURG, Dec. 16 (Reuters) – A small study of seven cases of COVID-19 in South Africa shows that the Omicron variant can break through booster vaccine injections, one of the scientists involved said Thursday.

A group of seven German visitors to Cape Town, aged 25 to 39, were infected at one point in late November or early December with confirmed cases of the Omicron coronavirus variant. A copy of the study seen by Reuters said they all suffered only mild to moderate symptoms and none required hospitalization.

Among the group, six were fully vaccinated with the Pfizer-BioNTech vaccine, five of which had also received a Pfizer booster while the sixth received a booster dose of Moderna vaccine.

A seventh received a first dose of AstraZeneca vaccine, followed by a second and then a third booster dose of Pfizer. None had reported previous infection with COVID-19.

The infections occurred between one and two months after receiving the booster.

Wolfgang Preiser, a virologist at Stellenbosch University and one of the study’s co-authors, told Reuters the study is currently under peer review. He said the study showed infection was possible and caused symptomatic illness even after an enhanced vaccination.

A much larger real-world study of 581 people in Britain showed that booster vaccines significantly restore protection against mild illnesses caused by the Omicron variant, in part reversing an otherwise steep drop in l effectiveness of the vaccine, the UK Health Safety Agency said last week.

Scientists suspect Omicron is more transmissible, given its rapid spread, but say it’s too early to draw definitive conclusions about the severity of the disease it causes.

Health professionals say vaccination remains an essential tool in the fight against the pandemic.

“It still protects against serious illness and death: we’re very sure of that,” Preiser said.

However, he added, “the picture that emerges is that this virus is very capable of undermining the immune response … (so) it is clear that we will need an updated vaccine.” (Edited by Frances Kerry)

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Best and Worst African Cities for Expats to Work in 2021 https://bungeni.org/2021/12/13/best-and-worst-african-cities-for-expats-to-work-in-2021/ Mon, 13 Dec 2021 11:06:44 +0000 https://bungeni.org/2021/12/13/best-and-worst-african-cities-for-expats-to-work-in-2021/

Africa has the largest number of expatriates in the world. Contrary to the stereotype that this is a region ravaged by disease and violence, she has shown enormous outlook over the years. And the fact that foreigners keep flocking to the continent further proves its potential.

Africa is the second most populous continent, home to over 1.3 billion people. However, the high figures do not correspond to the resources of the countries. As demand is greater than supply, professionals come in search of greener pastures.

Expats are also drawn to Africa for its rich culture. But not all cities offer them the best experience. For example, N’Djamena, Chad, and Lagos, Nigeria, are the most expensive cities for expats this year.

Expats ranked the best cities to work for this year. the 2021 ranking of expatriate cities includes 57 cities around the world. However, only four African cities had enough respondents to qualify for this year’s ranking, and two of them made it into the bottom ten.

Nairobi, Kenya

Nairobi has moved up 50 places from last year’s ranking after achieving excellent results in the Getting Settled and Finding Houses Index. The Kenyan city ranks 12th out of 57 in the 2021 Expat Cities Rankings, making it the top African city for expats.

According to the report, Nairobi ranks 4th in the world in the Getting Settled Index. 78 percent of expats in Nairobi described residents as friendly, which is high compared to the global average of 69 percent. Also, 74 percent of expats in Nairobi are satisfied with their social life. This is 17 percentage points higher than the world average (57 percent).

Nairobi also ranks sixth in the finance and housing index. 82% of expats find it easy to find accommodation, and almost half (49%) find it affordable.

Cape Town, South Africa

Cape Town ranks 41st out of 57 in the 2021 Expat Cities Rankings. It ranks 15th on the Getting Settled Index. Expats can easily socialize, make new friends and feel right at home in Cape Town. It even ranks 3rd in the Leisure and Climate sub-category. 81 percent of expats enjoy its weather and outdoor lifestyle.

But expats are not happy with some of its attributes. Cape Town ranks well on the local cost of living (18th) and finance and housing (13th) indices. Most expats say accommodation is easy to find, but only 40% find it affordable.

The city also has a poor ranking in the urban quality of life index (51st). 42% of expatriates worry about the political stability of the city and 43% worry about their security. More than half (53%) of them are also unhappy with the state of the local economy.

Cairo, Egypt

Cairo ranks 52nd out of 57 in the 2021 Expat Cities Rankings, making it one of the worst cities for expats. Its position was due to the fact that it had the lowest ranking for health and the environment. Expats also rank the city’s transport poor (52nd). 22% of expats in Cairo are unhappy with their jobs and 42% are worried about local career opportunities.

However, most expats find it easy to make friends in Cairo because the residents are friendly. They also have no difficulty finding accommodation and think it is relatively affordable. Cairo also ranks 7th in the world for cost of living.

Johannesburg, South Africa

Expats rank Johannesburg 55th out of 57 countries in the world, making it the least preferred African city. Expats think its transportation and politics are the worst among the 57 countries. Many of them are also worried about their safety. The urban environment and health care are also unsatisfactory.

Johannesburg also ranks low in terms of job satisfaction and job security. The majority of expats in this city say it is easy to find affordable accommodation. However, many of them are unhappy with the cost of living in the city.

Written by Oluwatosin Ogunjuyigbe

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Latest Updates: Credit Suisse Appoints Former AMP Head to Head Wealth Management Unit https://bungeni.org/2021/12/13/latest-updates-credit-suisse-appoints-former-amp-head-to-head-wealth-management-unit/ Mon, 13 Dec 2021 06:40:34 +0000 https://bungeni.org/2021/12/13/latest-updates-credit-suisse-appoints-former-amp-head-to-head-wealth-management-unit/
Francesco De Ferrari, newly appointed Head of Wealth Management at Credit Suisse © Nicky Loh / Bloomberg

Francesco De Ferrari, a bank veteran who held a short-term position as managing director of Australian group AMP, will become global head of Credit Suisse’s wealth management division, the Swiss bank said on Monday.

De Ferrari’s return to Credit Suisse, which he left in 2018, will include an appointment to the Swiss bank’s board from January 1. He will also be acting chief executive officer of his Europe, Middle East and Africa region, Credit Suisse said in a statement. declaration.

In March, De Ferrari retired from AMP after a tumultuous stint with the Australian asset manager that lasted less than three years. Its exit follows the failed takeover negotiations between AMP and US private equity group Ares Management over an A $ 6 billion ($ 4.6 billion) offer for the company.

In 2018, AMP appointed De Ferrari, then director of Credit Suisse’s Asia-Pacific private bank, as the new chief executive to “lead the takeover” of the company while it was under scrutiny. increasing regulatory. De Ferrari also served as Managing Director of South East Asia and Frontier Markets at Credit Suisse.

Among other executives announced on Monday, Christian Meissner, managing director of Credit Suisse’s investment banking division, has been appointed managing director of its Americas activities, while Helman Sitohang and André Helfenstein become managing directors, respectively, for the Asia regions. -Pacific and Switzerland.

The staff reshuffle came as Credit Suisse collapsed after the recent collapses of supply chain finance firm Greensill Capital and family office Archegos Capital, which inflicted a business loss of $ 5.5 billion. dollars, the largest in the history of Swiss banking.

Mark Hannam was appointed the Swiss bank’s new head of internal audit on Monday.

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Seychelles: key figures indicted as government tries to clean up nation’s reputation https://bungeni.org/2021/12/11/seychelles-key-figures-indicted-as-government-tries-to-clean-up-nations-reputation/ Sat, 11 Dec 2021 12:19:06 +0000 https://bungeni.org/2021/12/11/seychelles-key-figures-indicted-as-government-tries-to-clean-up-nations-reputation/

Cape Town – One of Seychelles’ richest and most powerful men, his wife and former senior government officials are accused of laundering US $ 50 million as a new government elected last year , attempts to cleanse the country’s reputation as a center of financial crime.

Mukesh Valabhji and his wife, Laura Alcinder Valabhij, were arrested in November on suspicion of embezzlement and money laundering given to the Seychelles government by the United Arab Emirates in 2002, report Scilla Alecci and Will Fitzgibbon for the International Consortium of investigative journalists (ICIJ).

The Seychelles News Agency reports that the Seychelles Supreme Court on Friday set bail at a record $ 2 million for one of the suspects, a woman the agency did not name.

The Valabhjis are said to have been close to former President Albert René, who ruled from taking power in a coup in 1977 until 2004, and whose party continued to rule until 2020 when the opposition , the Linyon Demokratik Seselwa (LDS), swept power in a landslide victory.

When the new president, Wavel Ramkawalan, was sworn in, he pledged that the rule of law would be maintained under his leadership, declaring that “no one is above the law and the rule of law will remain one of the pillars of our democracy “. The money laundering case is brought to court by the Seychelles Anti-Corruption Commission (ACCS).

When two of the defendants first appeared in court, one told the Seychelles News Agency that it was “a political matter”.

The former government officials charged are a former director general of the Ministry of Finance, a director of an entity created to manage state-owned hotels and tourist properties and a senior officer of the Seychelles People’s Defense Forces.

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