FRENCH DRUG GIANT SANOFI TAKES HEAT AFTER SUGGESTING U.S. MAY GET 1ST VACCINE ACCESS

With turf wars over face masks and other personal protective equipment not yet over, the battle over who will be the first to get a COVID-19 vaccine seems to have begun. Earlier this week, Paul Hudson, CEO of French pharmaceutical giant Sanofi, told Bloomberg News that if Sanofi develops a vaccine, doses would likely go to Americans first. Hudson said this was understandable, given the U.S. had financially supported its research.

UNION CRIES FOUL AS KU DECLARES PAY CUT FOR LECTURERS

Kenyatta University has announced a suspension of salaries for staff on contract due to what it terms a decline in revenue attributed to the Covid-19 outbreak which has paralysed services in higher learning institutions. In an internal memo dated May 15, Deputy Vice Chancellor (Administration) Prof Fatuma Chege said staff on three-month contracts are paid using proceeds of the university’s income generating activities (IGAs).

BANKS FACE FINES FOR LOCKING OUT BLACKLISTED BORROWERS

Banks, saccos and micro-finance lenders now face a fine of Sh2 million for every defaulter they deny loans to for being listed negatively with the country’s credit reference bureaus (CRBs). This new regulation represents a fresh attempt to unlock credit to firms and workers hard hit by effects of coronavirus pandemic. The Treasury has introduced the fine in regulations aimed at cleaning up the CRBs blacklist and enhancing borrowers’ chances of being able to borrow more.