5 Important things happening in South Africa today

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

Coronavirus: Global Covid-19 infections have hit 74.5 million confirmed, with the death toll reaching 1.65 million. In South Africa, there have been 10,008 new cases, taking the total reported to 883.687. Deaths have reached 23,827 (a daily increase of 166).

• Beach warning: Police Minister Bheki Cele said during a series of beach compliance spot checks in Cape Town this week, that he is in favour of introducing penalties for those who don’t comply. Beaches in the Eastern Cape, as well as the Garden Route district in the Western Cape are closed, while in KwaZulu-Natal, beaches and public parks will be closed on what are traditionally the busiest days of the season. Cele said the concession granted to parts of the Western Cape is not an absolute right. He said these Cape Town beaches can be closed at any time.. [ENCA]

• Sasol hefty legal bill: The forced sale by Sasol, of half its stake in Lake Charles Chemicals Project base chemicals plant in the US saw transaction expenses of R557 million. Sasol was forced into the sale as part of its efforts to deleverage its stretched balance sheet. Four entities will be paid in excess of 80% of these fees. Deloitte as Carve-out consultants will get R160 075 940, Bank of America Securities as Financial advisor, R136 366 000, Latham & Watkins as Legal advisors will get R88 139 000, and Centerview as Strategic advisor, R66 520 000.[MoneyWeb]

• Labour wage hike ‘unlawful’: The government, which is trying to stave off a fiscal crisis, scored a significant win when the Labour Appeal Court this week declared unlawful the implementation of the final year of a multi-term wage agreement that would have cost it R38 billion. It is likely that the ruling could set the scene for future labour instability and potential strikes by public servants… [BusinessLive]

• SA starts Covid vaccine review process: Johnson & Johnson was the first to apply for Covid-19 vaccine registration in South Africa and its jab is one of at least four being trialled in the country, along with those developed by Novavax, AstraZeneca and Pfizer. The regulator, the South African Health Products Regulatory Authority said it will “review the safety and efficacy of each vaccine on a case-by-case basis and will only grant approval for public use once it has met acceptable standards of quality, safety and efficacy”. The readiness programme includes the Covid-19 Vaccine Registration Working Group, comprising external and SAHPRA experts in vaccinology, manufacturing, clinical trials, epidemiology, vigilance and other specialisations informing quality, safety and efficacy.. [Daily Maverick]

• Markets: The rand firmed 0.6% against a weaker dollar – under pressure as investors move back into risk assets as Covid-19 vaccines begin rolling out. Investors will await developments on stimulus talks in the US after months of deadlock amid signs the economic recovery is faltering. Lawmakers are rushing to finalize virus-related measures worth nearly $900 billion. Fed Chair Jerome Powell said the case for fiscal stimulus is “very, very strong.”
  On Thursday the rand is at R14.79 to the dollar, R18.04 to the euro and R20.04 to the pound. [XE]