Mass immunisation venues will help Egypt persue its goal of vaccinating half of the population by the end of the year. EPA
Mass immunisation venues will help Egypt persue its goal of vaccinating half of the population by the end of the year. EPA
Mass immunisation venues will help Egypt persue its goal of vaccinating half of the population by the end of the year. EPA
Mass immunisation venues will help Egypt persue its goal of vaccinating half of the population by the end of the year. EPA

Egypt aims to vaccinate half its population by end of 2021


Kamal Tabikha
  • English
  • Arabic

Egypt announced plans to vaccinate half of its population by the end of 2021 by raising the rate of inoculations to 500,000 a day, a government representative said on Monday.

After a four-week period of shorter working hours for Egypt's businesses instated before the Eid Al Fitr holiday, hours were re-extended on Tuesday after a marked improvement in the course of the pandemic, said Cabinet spokesman Nader Saad during a round of televised phone-in interviews on Egyptian television.

Mr Saad said new Covid-19 case numbers declined in recent weeks, which he attributed to the increase in nationwide vaccinations.

More than 2.1 million people have received their first jab since the launch of the vaccine programme, with about 325,000 receiving both doses, Mr Saad said.

"The recent surge in inoculations is due to a growing number of Egyptians changing their mind and being more open to the idea of being vaccinated. We have also seen a rise in online registrations for taking the vaccine," Mr Saad said.

Mobile vaccination units are stationed outside post offices all over Egypt to immunise elderly citizens who have to go there every month to cash their pension cheques.

The health ministry, however, is wary of the recent improvements in the epidemiological situation, saying that they have been recorded in the past only for things to deteriorate again when people get complacent and flout Covid-19 preventive measures.

"While we have decided to ease the restricted working hours that were put in place over the past month, we have also doubled the fines and reprimands we are taking against anyone who flouts preventive measures," Mr Saad said.

The harsher reprimands include a fine of 4,000 Egyptian pounds ($255) for any businesses that stay open past their state-mandated closing times, in addition to two weeks of closure for first-time offenders (previously one week), and one month for repeat offenders (previously two weeks).

Health Minister Hala Zayed announced on Sunday that 403 vaccination centres had been opened nationwide, as well as several mobile vaccination units that will immunise those with disabilities that prevent them from going to vaccination centres.

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She revealed that Egypt is currently vaccinating 110,000 people per day, a number which should rise to about half a million by the end of June as more vaccination centres open nationwide.

Mr Saad said that the government, which is currently manufacturing its own doses of the Chinese-made Sinopharm vaccine, expects to produce 3 million doses of the jab in June alone.

Mr Saad also announced that teachers and university professors, particularly those directly supervising student examinations, will be among the first to be vaccinated in the coming period because of their close contact with young people.

All hotel employees in the Red Sea resort cities of Hurghada and Sharm El Sheikh, two of the country’s most important tourist hotspots, have been vaccinated, Ms Zayed said, with plans to vaccinate those working at other tourism establishments in both cities soon.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Eyasses squad

Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)

Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)  

Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)

Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)

Jemma Eley – goal attack / wing attack (Dubai College)

Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)

Molly Fuller – goal attack / wing attack (Dubai College)

Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)

Noorulain Hussain – goal defence / wing defence (Dubai College)

Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)

Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)         

Eliza Petricola – wing attack / centre (Dubai English Speaking College)

The bio

Who inspires you?

I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist

How do you relax?

Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.

What is favourite book?

The Perks of Being a Wallflower - I think I've read it more than 7 times

What is your favourite Arabic film?

Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki

What is favourite English film?

Mamma Mia

Best piece of advice to someone looking for a career at Google?

If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.  

 

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