Good morning, friends. Only three weeks to go until the end of the year, and we’re marking the occasion with a super-heavy news day as we kick off the final interest rate week of 2021.

All 11 economists and analysts we surveyed in our Enterprise Rate Poll expect the Central Bank of Egypt to leave interest rates unchanged when its Monetary Policy Committee sits down this Thursday for its final meeting of the year. The still-unfolding situation with the Omicron variant is giving policymakers everywhere pause and a lower-than-expected November inflation reading is seen giving the MPC some breathing room. We have chapter and verse in this morning’s news well, below.

WHAT’S HAPPENING TODAY-

Booster shots, get your booster shots: The Health Ministry will begin today allowing senior citizens with chronic medical conditions, as well as all medical staff, to register online for a covid-19 vaccine booster shot. The new link was not yet up at dispatch time.

PSA #1- You may want to wait on getting your Sinovac boosters. A study published in the medical journal Lancet (pdf) found that a longer waiting period between the second and third Sinovac shots provides better protection against covid. The study showed that getting a booster shot eight months after the second dose resulted in a “remarkable increase in the concentration of antibodies” compared to getting the booster six months after the second dose.

PSA #2- Today is the last day for young professionals to apply to the McKinsey Forward program which focuses on leadership, business, and the transition to digital, McKinsey announced in a press release (pdf). The six-month program aims to teach participants how their business can combat challenges and use them to their advantage, integrate tech, and be adaptable and resilient during times of change. Forward will be available without charge to those eligible to apply, and one of the requirements is having less than five years of work experience. You can apply via this link before the deadline.

The Food Africa expo opens this morning at the Egypt International Exhibition Center and runs through Tuesday.

HAPPENING THIS WEEK-

M&A WATCH- There are also a couple of big M&A milestones to look out for this week:

• Snackmaker Edita is due to wrap up due diligence on its acquisition of Ole brand owner Egyptian Belgian Company on Wednesday, 15 December;
• SODIC shares will be transferred to the Aldar Properties / ADQ consortium by Thursday, 16 December after last week’s takeover.

US envoy for the Horn of Africa Jeffrey Feltman is expected in Cairo to discuss the ongoing conflict in Ethiopia, according to remarks made by State Department spokesperson Ned Price on Wednesday. Feltman’s visit comes as part of a short regional tour to rally diplomatic support to bring an end to the fighting, which will see him visit the UAE and Turkey between 10-15 December. The US embassy declined to say when Feltman is expected in town.

PSA #3- Attention joint stock and investment companies in Cairo: You have four days left to register for the government’s e-invoicing platform. As of this Wednesday, 15 December, more than 3.7k companies in the capital will be required to be on the system and start issuing electronic invoices for B2B transactions. Some 2.8k large taxpayers have signed up to the Finance Ministry’s new digital platform over several phases going back to November 2020.

PSA #4- EgyptAir will resume weekly flights between Cairo and Johannesburg on Thursday, 16 December, the airline said Thursday. Flights were suspended from South Africa and six other countries at the end of November to prevent the Omicron covid-19 variant from entering Egypt. Current precautionary measures for travelers entering Egypt from South Africa will remain in place.

The Egyptian Economic Summit is taking place on Tuesday at the St. Regis Hotel. The one-day event will feature a range of bold-name panelists from institutions including CIB, EFG Hermes, the Sovereign Fund of Egypt, Eastern Company, Oriental Weavers, Microsoft and Danone, among others. The full agenda is here (pdf).

THE BIG STORY ABROAD this morning- No single story has captured the imagination of the global business press. Though both the FT and the WSJ are making a big (front page) fuss of inflation and what it could mean for the 2022 midterm elections in the United States. The big story in the US, though, is a swarm of tornadoes that have left at least 100 people dead across six states.

SIGN OF THE TIMES- A popular supporting character on the [Seekoseeko] in the City Reboot “And Just Like That” died of a heart attack. On a Peloton. As if in response, the exercise gear maker’s share price tanked IRL. Also: Credit Suisse had just cut the company’s target price and rating. Peloton shares are down about 75% this year.

CORRECTION- In our coverage of the tobacco license tender last week, we suggested that the new company would be able to produce the same low-tax cigarettes as Eastern Company for the local market. That was incorrect: The latest iteration of the tender would allow the second company to contract with Eastern Company to produce low-tax cigarettes at Eastern’s facilities — subject to both the new license holder and Eastern Company coming to an agreement on commercial terms. We have updated the story on our website.

*** It’s What’s Next day: We have our weekly deep-dive into what makes and shapes pre-listed companies and startups in Egypt, the UAE and KSA, touching on investment trends, future sector insights and growth journeys.

In today’s issue: Leveling up your family business II. Last week we took a deep dive into a study into what family businesses need to do to thrive post-pandemic, finding that firms with medium-term strategic plans fared best during covid, but that a significant number of them don’t have the governance structures and basic paperwork — like shareholder agreements — to formalize the positions of family members in the business. This week, we check in with senior folks at international financial institutions that help family businesses institutionalize.