5 important things happening in South Africa today

Here’s what is happening in and affecting South Africa today:

Coronavirus: Global infections have now surpassed 8.14 million confirmed, with the death toll rising to 443,000. In South Africa, total infections have increased by 4,078 cases to reach 80,412. Deaths have climbed to 1,674, while recoveries have risen to 44,331, leaving the country with a balance of 34,407 active cases.

• 100 day start: President Cyril Ramaphosa has warned the nation that, 100 days into the Covid-19 response, we’re still at the start of the pandemic – and infections and fatalities are still expected to rise. The president addressed the nation on Wednesday night, announcing further easing of lockdown restrictions, allowing restaurants, casinos and personal care businesses to open once again. He said that while the lockdown was hard on everyone, it worked to flatten the curve and prevent a surge in infections and in deaths. [BusinessTech, M&G]

• Caution: A South African medical expert says that while the new ‘breakthrough’ treatment for Covid-19 patients is great news, the trial which showed the positive results was not a complete study, and more research into its use needs to be done. He said that the drug has already been used in treating patients in South Africa, and welcomed government’s commitment to use it in more areas. He warned, however, that it can only be used in very ill patients, who are already in serious condition – not in an out-patient setting. [EWN]

• More to come: The arrest of eight people involved in the ‘great VBS bank heist’ is just the start, the Hawks say, with indications that politicians are also under investigation for their ties to the theft – which will form phase 2 of the investigation. The heist was blown open in 2018, when it was revealed that VBS executives were stealing millions of rands from depositors in the bank through false contracts and manipulated banking records. Several politicians, including those in the ANC and EFF have been accused of having benefited from the heist. [TimesLive]

• Retrenchments: Owner of Edgars and Jet, Edcon has issued 22,000 of its employees with retrenchment notices, as the group looks for companies willing to buy its assets. Edcon has been hit particularly hard by the Covid-19 pandemic, with the group – which was already struggling before the pandemic – unable to open for sales for five weeks during lockdown. The group has been the first big company to fall due to the virus, with more expected to follow. [Moneyweb]

• Markets: South Africa’s rand clung on to small gains on Wednesday, supported by stimulus measures from major central banks, following a sell-off sparked by fears of a second global wave of coronavirus infections. The rand has been oscillating between R16.80 and R17.30 for the past couple of days, with market uncertainty quite clear. On Thursday, the rand was trading at R17.22 to the dollar, R21.60 to the pound and R19.37 to the euro. Commentary by Reuters.

Reference :https://businesstech.co.za/news/government/408549/5-important-things-happening-in-south-africa-today-820/