Government

5 important things happening in South Africa today

Staff Writer

 ·16 Mar 2022

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

Coronavirus: In South Africa, there have been 2 new Covid-19 deaths, taking the total reported to 99,727. The country has 18,219 active cases and a recovery rate of 96.8%.

• SARS showing teeth: The South African Revenue Service is notching up successes in tackling tax delinquency, according to tax experts, who say that the growing number of complaints about SARS being ‘overzealous’ – or against the media for ‘fear mongering’ by publishing the revenue service’s warnings – is a clear indication that its message is getting out there. This is in stark contrast to the complaints about SARS from a few years ago, where people and businesses complained that the body was toothless or hollow. SARS’ successes are down to a much more willing and able tax authority, that is bearing its teeth to delinquents. [Moneyweb]

• State of disaster: Prominent Covid commentator Professor Salim Abdool Karim says that even though the worst of the health crisis appears to be over, there is still a need to effectively manage public health measures in case the situation changes. Despite various calls from sectors of society for the state of disaster to be dropped, Karim stressed the importance of effectively managing Covid-19 and restricting indoor mass gatherings. The government this week extended the state of disaster to 15 April 2022. Some analysts expect it will be extended further, as there is not enough time for replacement regulations to go through the necessary consultation and approval processes. [EWN, BusinessLive]

• Comair funding: Embattled airline Comair, which has been forced to ground both Kulula and regional British Airways flights, says it will require further funding to continue its operations on a sustainable basis. A business rescue update said that a financial analysis of the company in January confirmed that it lost approximately R100 million in previously booked but ‘unflown’ revenue. The company said that the Covid-19 Omicron variant and the international travel bans, in particular by the government of the UK, hurt revenue. [Moneyweb]

• Corruption: The head of the National Prosecuting Authority says that the authority will prioritise corruption cases over the next six months. She updated the Parliament’s Standing Committee on Public Accounts on cases referred to the NPA by the Special Investigations Unit. The NPA stressed that the task force had been made to implement the Zondo Commission recommendations. This follows criticism of the NPA for lagging in investigations into corruption. [ENCA]

• Markets: South Africa’s rand firmed slightly on Tuesday, as the market’s attention turned to this week’s U.S. Federal Reserve meeting, where an interest rate hike is expected. The Reserve is set to raise rates for the first time since the pandemic at its meeting, which concludes on Wednesday. Traders also expect risk appetite to be kept in check by the Russia-Ukraine crisis and a retreat in recent commodity price highs. The rand is currently trading at R15.12/$, R16.58/€ and R19.73/£. [Nasdaq]