Business

5 important things happening in South Africa today

Staff Writer

 ·22 Apr 2020

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

Coronavirus: Global cases of coronavirus are at 2,557,837, with 177,674 lives lost. 695,262 people have recovered, meaning 1,684,901 cases remain active. In that, 57,253 cases are serious or critical. In South Africa, the number of confirmed cases are at 3,465, with deaths still at 58, and recoveries at 1,055.

• Relaxing restrictions: While president Ramaphosa has announced that South Africa will slowly re-open its economy, details on how this will happen are still to come. However, COGTA minister Nkosazana Dlamini-Zuma has given some indication of how sales restrictions will be eased – specifically by allowing retailers to sell “non-essential” products, like winter clothing and blankets and heaters. However, government is standing firm on the ban of hot food sales. [TimesLive, BusinessTech]

• To court: Tobacco groups have decided to take government to court over the ban on the sale of tobacco products, having failed to have their demands met through engaging with authorities. Much like the hot food ban, tobacco companies are arguing that tobacco had not been explicitly gazetted as a forbidden item to sell during the lockdown. Worries around the ban on tobacco include the effect on those addicted, as well as the rise of illicit trade. [EWN]

• Studies go on: Universities say that the academic year will continue no matter what, and as much time as necessary will be taken to complete it – even if this means working into the middle of the year, and having the next academic year start after that. The message comes as student bodies fight against online learning and continuation of classes that leave some disadvantaged students out of the loop. However, they have been assured that no student will be left behind. [702]

• Try again: Despite the imminent collapse of SAA, government has assured unions that a new viable airline will emerge from the business rescue process currently underway at the group. Government said it is no longer in a position to provide financing for the failed airline, and all 5,000 employees are facing retrenchment by the end of the month. The group has not turned a profit since 2011, and has received billions of rands in government bailouts over the last decade. [Reuters]

• Markets: South Africa’s rand slumped more than one percent on Tuesday, sliding along with fellow emerging market currencies, as the plunge in global oil prices fuelled risk aversion and renewed dollar buying. US crude oil futures plunged into negative territory for the first time ever on Monday, dragged down by a supply glut and sagging demand caused by the coronavirus pandemic. On Wednesday the rand was at R19.05 to the dollar, R23.40 to the pound and R20.67 to the euro. [XE]