Business

5 important things happening in South Africa today

Staff Writer

 ·24 Aug 2020

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

Coronavirus: Global Covid-19 infections have hit 23.2 million confirmed, with the death toll reaching 806,000. In South Africa, there have been 2,728 new cases, taking the total reported to 609,773. Deaths have reached 13,059 (an increase of 72), while recoveries have climbed to 506,470, leaving the country with a balance of 90,244 active cases.

• Public sector strike: The National Education, Health and Allied Workers’ Union (Nehawu) says its plans to picket and strike will continue this week, as the union builds up support for its ‘national day of action’ in September. The union is striking against the government’s refusal to increase public servants’ salaries and a failure to offer adequate personal protective equipment against the coronavirus. This week’s actions include taking mass leave, and picketing during lunch breaks – with national strikes planned for 3 and 10 September. (Nehawu)

• Global spotlight: Dr Tedros Ghebreyesus, head of the World Health Organisation (WHO), has added to the mounting criticism of corruption around South Africa’s Covid-19 relief funds and programmes, saying that if health workers’ lives were lost due to corruption, it equated to murder. The WHO head’s comments throw South Africa’s Covid corruption into the global spotlight, after president Cyril Ramaphosa called on his own party to fess up and come clean on corruption within its own ranks. [Moneyweb, BusinessTech]

• School daze: Millions of children will be returning to school today, with grades R, 1, 2, 3, 4, 6, 9, 10 and 11 set to return, according to regulations. The Department of Basic Education says that it is ready for learners to return in numbers, saying the staggered approach over the last two weeks has given adequate room to prepare. Concerns linger about resources and protective gear, however education experts say all attention must be placed on supporting learners as they deal with the last stretch of the year. [ENCA]

• More power: Following the return of load shedding, the Department of Energy has issued a request for proposals to procure 2,000 megawatts of emergency power, a step needed to help plug a severe energy shortage. All power procured under this programme is expected to be fully operational by not later than the end of June 2022, with an investment cost estimated at around R40 billion. The bidders have to adhere to strict BEE guidelines, including supporting Broad Based Black Economic Empowerment initiatives on ownership and localisation. [Daily Maverick]

• Markets: South Africa’s rand clocked weekly gains on last week as the dollar was on the defensive on worries about the health of the US economy. The broader themes of US-China tensions, the US elections and a US recovery all remain in play in the currency market this week. The rand starts the week on the front foot at R17.12 to the dollar, R20.20 to the euro and R22.41 to the pound. Commentary by Peregrine Treasury Solutions. [XE]