Business

5 important things happening in South Africa today

Staff Writer

 ·12 Feb 2021

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

Coronavirus: Global Covid-19 infections have hit 108.3 million confirmed, with the death toll reaching 2.38 million. In South Africa, there have been 2,488 new cases, taking the total reported to 1,484,900. Deaths have reached 47,382 (a daily increase of 237), while recoveries have climbed to 1,377,980, leaving the country with a balance of 59,538 active cases.

• SONA 2021: President Cyril Ramaphosa’s state of the nation address placed a large focus on business and the economy, with a slew of promises to address the needs of the poor and unemployed. General response to the speech has been mixed, with sectors still hit by lockdown welcoming the extended support, but opposition parties and analysts criticising the address as being a repeat of previous promises that government has continued to fail to deliver on. [Moneyweb, EWN]

• Ivermectin: Health experts say that the uncontrolled use of ivermectin by the public to treat Covid-19, shows that there is a lack of trust in government’s response to the pandemic, and they feel like they need to take matters into their own hands. While regulator SAHPRA recently approved “compassionate” use and prescription of the drug, approvals to do so have been far and few, with only 10 doctors currently registered. Illegal dispensing and use continues, unabated, however. [TimesLive]

• WHO: The World Health Organisation says that the AstraZeneca Covid-19 vaccine is still viable and safe to use, and recommends that it continued to be used on high-risk and severe cases of the virus, while further research is conducted on variants. The message comes after South Africa halted the rollout of the vaccine due to it being ineffective against the local variant of Covid-19. However, it said that if the vaccine is made available, it should still be used, as it will prevent some deaths. [ENCA]

• Schools: Parents and teachers alike are anxious about schools reopening next week, with surveys showing doubt among the population that schools will be ready to welcome learners back. However problems persist beyond readiness – with experts pointing to a lack of learning materials, and feeding problems building on Covid-related issues in the system. They say that parents need to be more involved, working with teachers and the department of education to mitigate disruptions caused by the pandemic. [Daily Maverick]

• Markets: The SONA was a non-event in terms of currency movement, as all eyes now turn to the upcoming budget. The rand held steady as the global backdrop continues to drive the current bout of strength, with stimulus stealing the spotlight. UK GDP, manufacturing and industrial production are due this morning. The rand is holding onto its gains, starting the day at R14.64 to the dollar, R17.74 to the euro and R20.18 to the pound. [Peregrine Treasury Solutions]