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Macro and Micro News

Mkhize calls for occupational health and safety committees at every level

By: Yvonne Silaule     29th July 2020 In a bid to ensure continuous engagement with all stakeholders critical to the fight against Covid-19, Health Minister Dr Zweli Mkhize has given a directive for occupational health and safety committees to be created at a provincial, district and local hospital level. This was according to a... 

TIPS Tracker: The economy and the pandemic

By: Creamer Media Reporter      28th July 2020 Trade and Industrial Policy Strategies' (TIPS's) 'Tracker: The economy and the pandemic' highlights important trends in the Covid-19 pandemic in South Africa and how they affect the economy. KEY FINDINGS FOR THE WEEK The number of diagnosed new cases levelled out in Gauteng and Eastern Cape in... 

Imperial's disposal of European shipping business set for implementation on July 31

By: Schalk Burger     28th July 2020 Imperial Logistics on July 28 announced that it had fulfilled all the conditions for the sale of its wholly-owned European shipping subsidiary Imperial Logistics International to Germany-based Häfen und Güterverkehr Köln for €171-million (R3.3-billion). The transaction is expected to be... 

Mboweni asked to reveal govt procurement guidelines for Covid-19 materials following corruption allegations  

By: Sane Dhlamini     28th July 2020 Finance Minister Tito Mboweni has been asked to present to MPs Treasury’s guidelines on government procurement of personal protective equipment (PPE) during the coronavirus (Covid-19) pandemic, following recent allegations of corruption relating to awarded tenders. The Eastern Cape, Gauteng and... 

Mboweni asked to reveal govt procurement guidelines for Covid-19 materials following corruption allegations
Finance Minister Tito Mboweni

Without infrastructure and manufacturing, AfCFTA will fall short – senior African policymaker  

By: Terence Creamer     28th July 2020 An Ethiopian senior minister and special adviser to Prime Minister Abiy Ahmed has cautioned that, without major infrastructure investment and the development of manufacturing capacity, African countries will not be in a position to take full advantage of the African Continental Free Trade... 

Without infrastructure and manufacturing, AfCFTA will fall short – senior African policymaker
Dr Arkebe Oqubay speaking during virtual TIPS 2020 Fourm meeting

Covid-19 peak expected late August, with SA economy to recover in 2 years  

By: News24Wire      28th July 2020 Business lobby group, Business for South Africa, has urged South Africans and businesses to continue with precautions in work and public life as the economic devastation wrought by the Covid-19 pandemic rages on. In a statement released on Tuesday morning, B4SA said it expected the national... 

 Covid-19 peak expected late August, with SA economy to recover in 2 years

SA Express employees still pleading for govt help with airline in provisional liquidation

By: News24Wire      28th July 2020 A group of employees at state-owned regional airline SA Express are still desperately hoping that government will be able to assist them in getting their unpaid salaries - last paid in February - as well as retrenchment packages. Unlike South African Airways, which is still in business rescue, SA... 

SA Express employees still pleading for govt help with airline in provisional liquidation

IMF approves $4.3bn loan for South Africa

By: African News Agency      28th July 2020 The International Monetary Fund (IMF) Executive Board has approved a US$4.3-billion loan for South Africa to help the country weather the Covid-19 health crisis on the economy, National Treasury said late on Monday. "The IMF Executive Board has approved South Africa’s request for emergency... 

 IMF approves $4.3bn loan for South Africa

Approvals for Gazetted list of infrastructure projects valued at R360bn to be fast-tracked 

By: Terence Creamer     27th July 2020 The Presidency’s Investment and Infrastructure Office head Dr Kgosientso Ramokgopa  reported on Monday that the publication of an initial list of 50 Strategic Integrated Projects and 12 Special Projects in the Government Gazette is motivated by a desire to ensure that the approval processes... 

Approvals for Gazetted list of infrastructure projects valued at R360bn to be fast-tracked
Dr Kgosientso Ramokgopa

African Continental Free Trade Area could boost regional income by $450bn by 2035 

By: Terence Creamer     27th July 2020 The African Continental Free Trade Area could, a new World Bank report asserts, boost regional income by 7%, or $450-billion, by 2035 and help offset the negative effects of the Covid-19 pandemic, which is expected to cause up to $79-billion in output losses in Africa this year. If fully... 

African Continental Free Trade Area could boost regional income by $450bn by 2035

Gauteng SACP, Cosatu united in condemning corruption  

By: Sane Dhlamini     27th July 2020 The Gauteng branch of the South African Communist Party (SACP) and the Congress of South African Trade Unions (Cosatu) have called on the Gauteng provincial government to act decisively and swiftly on allegations of corruption relating to coronavirus (Covid-19) efforts. The unions said action... 

Gauteng SACP, Cosatu united in condemning corruption
Gauteng Premier David Makhura

Industry body seeks to raise R100m to support taverns

By: Schalk Burger     27th July 2020 Industry organisation, the National Liquor Traders Council (NLTC ), announced on July 27 that it aims to raise R100-million to support 34 500 taverns over a two- to three-month period by providing food parcels and other necessary supplies. NLTC convener Lucky Ntimane said the organisation was... 

Alcohol industry review disputes SAMRC alcohol trauma report, calls for dialogue to reopen

By: Schalk Burger     27th July 2020 An independent review of the South African Medical Research Council's (SAMRC's) 'Impact of Alcohol on Health Services in South Africa' report and its data inputs, has identified a number of study design and statistical modelling limitations owing to the lack of complete data presented, alcohol... 

Mboweni warns of consequences for theft of Covid-19 relief funds  

By: News24Wire      27th July 2020 "What kind of people are these criminals?" This was a line from one of three late-night tweets by Minister of Finance Tito Mboweni on Sunday evening about corruption involving Covid-19 tenders. The minister took to Twitter on Sunday evening to tweet about the theft of funds, a few days after... 

Mboweni warns of consequences for theft of Covid-19 relief funds
Finance Minister Tito Mboweni

Sector regulators get insurers to agree to interim relief for Covid-19 business interruption

By: Rebecca Campbell     27th July 2020 Public loss adjustment company Insurance Claims Africa (ICA), which is representing more than 600 tourism and hospitality businesses, has welcomed an agreement reached between, on the one hand, the Financial Services Conduct Authority (FSCA) and the Prudential Authority (PA), and, on the other,... 

Government, President alienating South Africans – BLSA

By: Marleny Arnoldi     27th July 2020 Business Leadership South Africa (BLSA) CEO Busi Mavuso says there is a sense that government is too easily bent by powerful lobbies instead of acting clearly in the best interest of all people. In a weekly newsletter, published on Monday, she expresses her concern that South Africans are... 

Govt to meet social partners to finalise economic recovery plan – Ramaphosa  

By: Sane Dhlamini     27th July 2020 In the coming weeks government will liaise with its social partners to finalise an economic recovery programme, with a strong focus on the safeguarding and creation of jobs. In his weekly address to the nation, President Cyril Ramaphosa said the programme will consolidate the best proposals. He... 

Govt to meet social partners to finalise economic recovery plan – Ramaphosa
President Cyril Ramaphosa

Steinhoff proposes $1bn settlement to solve legal disputes

By: Reuters     27th July 2020 South African retailer Steinhoff International said on Monday it had proposed a settlement worth up to around $1-billion to settle a stream of legal claims against it following a massive accounting fraud. Lawsuits worth billions of dollars are now the biggest challenge facing Steinhoff, which is... 

Mpumalanga approves additional R1.6bn for Covid-19 containment measures, service delivery

By: Yvonne Silaule     27th July 2020 The Mpumalanga executive council has approved an apportionment of R1.6-billion to the departments of Agriculture, Rural Development, Land and Environmental Affairs; Health; and Education to augment the Covid-19 containment measures in the province and improve service delivery. Mpumalanga Premier... 

Gwede Mantashe discharged from hospital

By: News24Wire      26th July 2020 Mineral Resources and Energy Minister Gwede Mantashe has been discharged after he was hospitalised for Covid-19 earlier this month. The Presidency confirmed that Mantashe was discharged from hospital on Sunday evening. 

South Africa extends Covid-19 loans for struggling businesses

By: Reuters     26th July 2020 South Africa has doubled to six months the term of loans to small and medium-sized businesses to help them survive the Covid-19 recession and made other changes to make the credit easier to access, the treasury said on Sunday. President Cyril Ramaphosa announced the R200-billion loan scheme in... 

Patel tests positive for Covid-19

By: News24Wire      25th July 2020 Minister of Trade, Industry and Competition Ebrahim Patel is the latest member of the executive to test positive for the deadly Covid-19. Patel received his results on Saturday. 

Patel tests positive for Covid-19
Photo by Creamer Media's Donna Slater
Trade and Industry Minister Ebrahim Patel

The dilemma of Covid-19’s second wave

By: Bloomberg     25th July 2020 Shuttering businesses, grounding airlines and ordering people to stay home was hard enough the first time. The thought of having to do it all over again is something world leaders don’t want to even contemplate. From Italy to New Zealand, irrespective of how well the virus was contained,... 

The dilemma of Covid-19’s second wave

EU sends Covid-19 test accuracy material to South Africa

By: Schalk Burger     24th July 2020 The European Union (EU) Joint Research Centre has sent a consignment of control material, which allows laboratories to check the correct functioning of their Covid-19 tests and avoid false negatives, to South Africa. The EU Joint Research Centre developed the control material at its laboratories... 

Departments will have to submit productivity assessments from next year

By: Marleny Arnoldi     24th July 2020 The Department of Public Service and Administration (DPSA) has confirmed that all government departments will be legally mandated to submit productivity assessment reports from the end of March 2021. The reports will be assessed according to a tool developed by DPSA, which was approved by the... 

SAA BRPs call short-notice meeting of airline’s creditors 

By: Rebecca Campbell     24th July 2020 The business rescue practitioners (BRPs) for financially-beleaguered State-owned national flag carrier South African Airways (SAA) have had to call for an urgent (virtual) meeting of the airline’s creditors, to consider amending the business rescue plan for SAA. The email notice announcing this... 

SAA BRPs call short-notice meeting of airline’s creditors 

IMF board to consider South Africa financing aid on Monday, says spokesperson

By: Reuters     23rd July 2020 The International Monetary Fund confirmed on Thursday that South Africa has requested emergency financing assistance and its executive board will consider the request on Monday, which would bring to 72 the number of countries receiving IMF aid to deal with the coronavirus pandemic. "They've... 

Renewables zones in Emalahleni and Klerksdorp part of just-transition vision – Creecy 

By: Terence Creamer     23rd July 2020 Environment, Forestry and Fisheries Minister Barbara Creecy has made a direct link between government’s proposed designation of Renewable Energy Development Zones (REDZs) in the coal and gold mining towns of Emalahleni and Klerksdorp respectively, and South Africa’s just transition to a... 

Renewables zones in Emalahleni and Klerksdorp part of just-transition vision – Creecy
Photo by Creamer Media's Donna Slater
Environment, Forestry and Fisheries Minister Barbara Creecy

Insurers still refusing to pay out Covid-19 claims despite court and regulatory rulings

By: Rebecca Campbell     23rd July 2020 Specialist public loss adjustment company Insurance Claims Africa (ICA) has again thrown the spotlight on major insurance companies that are refusing to pay out business interruption claims submitted by small and medium enterprises (SMEs) in the hospitality and tourism sector, despite a Western... 

Reserve Bank cuts repo rate by 25 basis points  

By: News24Wire      23rd July 2020 The Reserve Bank has introduced a 25 basis points rate cut, with Governor Lesetja Kganyago saying inflation is expected to be "well contained" in the medium term. Kganyago on Thursday announced that the Monetary Policy Committee was divided on the decision. The repo rate - which is the benchmark... 

Reserve Bank cuts repo rate by 25 basis points
SARB governor Lesetja Kganyago

Ramaphosa to address nation at 20:00 tonight  

By: News24Wire      23rd July 2020 President Cyril Ramaphosa will address the nation at 20:00 this evening, on developments in South Africa’s risk-adjusted strategy to manage the spread of Covid-19. The President’s address follows a number of meetings of the Cabinet and the National Coronavirus Command Council. The President’s... 

Ramaphosa to address nation at 20:00 tonight
President Cyril Ramaphosa

Concern raised over R1.5bn cut to electrification budget 

By: Terence Creamer     23rd July 2020 Concern continues to be raised over the fact that the biggest cut made to the Department of Minerals Resources and Energy’s 2020/21 budget is for the electrification of poor households, especially in those province with the largest connection backlogs. The cuts, which were signalled in early... 

Concern raised over R1.5bn cut to electrification budget

Gauteng unveils R4bn upward revision to Budget in response to Covid-19 

By: Terence Creamer     23rd July 2020 The Gauteng government announced a R4-billion upward revision to its 2020/21 provincial Budget on Thursday, indicating that the increase to R146.4-billion, from the R142.2-billion outlined in March, had been made in response to the need for additional resources to respond to the Covid-19... 

 Gauteng unveils R4bn upward revision to Budget in response to Covid-19
Gauteng Finance and e-Government MEC Nomantu Nkomo-Ralehoko

Eskom suspends operations in other parts of Cape Town following attacks

By: News24Wire      23rd July 2020 Eskom announced it has now suspended operations in other parts of Cape Town following continued attacks on its employees.  Affected areas, where the utility has pulled out of operations, include Bloekombos, Wallacedene, Kraaifontein CBD and Wesbank in Delft, it said in a statement on Wednesday.  

Eskom suspends operations in other parts of Cape Town following attacks

Reduced agricultural budget compounds food insecurity in SA

By: African News Agency      22nd July 2020 The South African Department of Agriculture, Land Reform and Rural Development received its budget allocation for the 2020/2021 financial year. This follows the national budget vote in February by Finance Minister Tito Mboweni. According to a statement issued on Tuesday, the received amount of... 

Reduced agricultural budget compounds food insecurity in SA
Agriculture, Land Reform and Rural Development Minister Thoko Didiza

CW report highlights impact of corruption in health sector

By: Sane Dhlamini     22nd July 2020 Not for profit organisation Corruption Watch (CW) on Wednesday released its ‘X-Ray: The critical state of the health sector in SA’ report which aims to uncover the impact of corruption in the healthcare sector. The report demonstrates how people who are reliant on public health facilities in... 

CW report highlights impact of corruption in health sector

Border Management Authority Bill enforced

By: Sane Dhlamini     22nd July 2020 President Cyril Ramaphosa has signed the Border Management Authority Bill into law as part of government’s vision for an integrated and well-coordinated border management service, legitimate trade and secure travel. The new legislation effective from July 21 and is in accordance with... 

Border Management Authority Bill enforced
President Cyril Ramaphosa
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