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Ghana’s Covid-19 cases Shoots to 636

Ghana’s Covid-19 cases

Ghana’s  Covid-19 cases are now 636.

Ghana’s Covid-19 cases now stand at 636 after 70 new cases were confirmed by health officials, Tuesday.

The number of regions affected are still 10, with six regions yet to record a case

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A total of 44,421 persons have been tested for the disease, the Ghana Health Service said in an update.

Greater Accra Region also remains the epicentre for the pandemic with the number of cases in the region now at 509.

The Ashanti and Eastern Region follow with 53 and 41 Covid-19 cases respectively.

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The Northern region still has 10 cases while Volta region stands at nine cases of the novel coronavirus.

Upper West Region has recorded seven and neighbouring Upper East region has four cases.

Western and Central Regions have recorded a case each.

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Meanwhile, major parts of the Greater Accra region and the Ashanti region remain under lockdown.

SITUATION UPDATE, COVID-19 OUTBREAK IN GHANA AS AT 13 APRIL 2020, 23:00 HRS

 

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In the past two weeks since the institution of enhanced surveillance, restriction of movement and continuous public education to prevent the spread of cases of COVID-19. Several cases have been recorded as a result of intensive contact tracing and testing.

As of 13th April 2020, at 23:00HRS, a total of 44,421 persons have been tested with 636 being positive for COVID-19. The breakdown of the 636 positive cases are as follows: seventeen (17) have been treated, reverted to negative on repeat tests and discharged, 605 cases have been categorised as mild disease and are on treatment, two (2) are categorized as moderate to severe cases, none in critical state currently and eight (8) have died.

Of the 636 confirmed COVID-19 cases, 268 were reported from the routine surveillance, 253 from enhanced surveillance activities and 115 from travellers under mandatory quarantine in both Accra and Tamale.

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Regions that have reported cases are Greater Accra, Ashanti, Central, Eastern, Western, Volta, Northern, North East, Upper East, and Upper West regions.

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MultiChoice stakes $281.5 million in BetKing, widening Nigeria’s betting market.

MultiChoice

MultiChoice purchased a 20% stake in Blue Lake Ventures Limited, a pan-African sports betting and Entertainment Company known as BetKing, in October 2020. Now, through its wholly-owned subsidiary, Mwendo Holdings B.V, MultiChoice aims to buy a further 29%.

This means Multichoice will have a non-controlling 49% share in BetKing Nigeria, valued at $281.5 million, in line with its aim to extend its entertainment ecosystem and build important future value drivers.

However, the completion of this deal is dependent on some substantive conditions. 

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First, Multichoice has to secure debt funding. To complete the transaction, they need to raise about $294.45 million in rand-denominated debt.

Secondly, the completion of the employee share incentive scheme is fundamental. The arrangement includes creating an employee share option plan by apportioning 10% of the company’s equity. More so, shareholders will own shares in the diluted business. 

Thirdly, they have to obtain regulatory approvals from antitrust or competition authorities in various jurisdictions. 

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Other requirements include agreeing on a reasonable exit clause for minorities who will sell down to recoup some of their initial investment.

MultiChoice
MultiChoice stakes $281.5 million in BetKing, widening Nigeria's betting market. 31

Multichoice Group CEO Calvo Mawela believes that sports betting is an exciting and buoyant market that is well-aligned with the company’s Pay-TV business.  He further adds that the majority of betting enthusiasts watch a lot of games, which Multichoice is known to show on its platform.  

About Betking Nigeria

Widely acknowledged as one of the popular sports betting platforms in the continent, Betking Nigeria was founded by Bryon Petzer and Adekunle Adeniji, who previously worked as Bet9ja’s virtual product manager. 

As of Dec 2020, Betking increased its annual revenue by 42% to $54.7M in 2019 to $77.9M. Meanwhile, its net asset value stood at $100.2M. 

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According to Technavio, the sports betting industry is expected to grow by more than $134 billion between 2020 and 2024, with a remarkable compound annual growth rate (CAGR) of 10%.

Nigeria’s betting space

Popular betting companies like Betking, Sporting Bet, Nairabet, Naijabet, Bet9ja, and Surebet24 dominate the betting space in Nigeria. 

In 2018, about 60M Nigerians ages 18-40 were involved in sports betting. Approximately, ₦2 billion was spent on active sports betting daily. Yet, Africa holds only 2% of global sports betting revenue. This, without a doubt, rationalizes BetKing Nigeria investment, as the continent is poised for great momentum as it starts to play catch-up.

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