Business

5 important things happening in South Africa today

Staff Writer

 ·29 Jun 2021

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

Coronavirus: In South Africa, there have been 12,222 new cases of Covid-19, taking the total reported to 1,941,119. Deaths have reached 60,38 (+138), while recoveries have climbed to 1,723,882, leaving the country with a balance of 157,119 active cases. The total number of vaccines administered is 2,787,996 (+102,997).

• Blame game: Health experts say the rapid spread of Covid-19 in the third wave is down to both government and citizens’ failures to heed warnings coming from scientists. The government was warned that the third wave of infections was going to be bad, but did not listen and prepare – while South Africans have grown fatigued by restrictions and preventative protocols, and just didn’t adhere to them. This, combined with the Delta variant’s make-up and external factors like the change of seasons, led to the crisis we now face, with hospitals overloaded and under pressure. The situation is exacerbated by the slow rollout of vaccines. [TimesLive]

• No-shows: South Africa is facing another problem on the vaccine front: people are not turning up to get their dose. The health department has expressed concern that registrations for vaccines have slowed down, and people are simply not pitching when they receive notice that the vaccine is ready. Some sites report a no-show rate of up to 70%. This is particularly egregious within the private sector, which serves a mostly affluent and insured population. The department said that no-shows slow down the entire vaccination programme and that it’s one of the reasons it recently broadened the age category to those over 50 – because it’s running out of people to vaccinate. [News24]

• Same story: A previous crypto scheme run by the Cajee brothers – the duo behind the ‘hacked’ Africrypt scheme – suffered a similar fate, not too long ago. Past investors have come forward with stories about how the brothers ran a crypto scheme in 2019 that followed a similar pattern at its end: suffering a hack, and investors being told nothing could be done about it. The brothers are being accused of bolting with investors’ money, after an apparent ‘hack’ on Africrypt saw an alleged R50 billion disappear, along with the brothers. Similar patterns have been followed with other crypto schemes like MTI. The brothers, through their lawyer, have denied stealing funds, claiming they are victims of theft. [Moneyweb]

• Mkhize: President Cyril Ramaphosa is reportedly preparing to dismiss Zweli Mkhize as health minister, following unpublished findings by the SIU that he was implicated in the Digital Vibes scandal at the health department. Business Day is reporting that the president will use the situation to set an example and reinforce his anti-corruption reform agenda. The SIU report is expected to be handed over to the president on Wednesday. It was investigating a R150 million communication contract that was awarded to Digital Vibes – a company with ties to Mkhize through two of his close associates. [BusinessLive – paywall]

• Markets: South Africa’s rand weakened on Monday after the government tightened Covid-19 restrictions to cope with the speed and scale of new coronavirus infections. The rand fell 0.7% after three straight sessions of gains, as curbs were tightened for two weeks with the country battling the fast-spreading Delta variant amid a slow rollout of vaccines. The currency is down more than 3% so far this month – among the worst EM performers in June. On Tuesday the rand is trading at R14.28/$, R17.01/€ and R19.80/£. [Reuters]