Right here’s what is occurring in and affecting South Africa at this time:
Coronavirus: World Covid-19 infections have hit 114.7 million confirmed, with the dying toll reaching 2.54 million. In South Africa, there have been 1,168 new circumstances, taking the whole reported to 1,519,393. Deaths have reached 49,993 (a every day enhance of 52), whereas recoveries have climbed to 1,430,259, leaving the nation with a steadiness of 33,141 lively circumstances.
- Tiny tax base: Beneath 6% of the South African inhabitants is paying 92% of non-public tax within the nation, in line with Econometrix chief economist and director Azar Jammine – who provides that the identical group pays about 85% of all VAT. South Africans, even a major variety of taxpayers in lower-income brackets, are additionally closely reliant on high-income earners, who pay the majority of the taxes. [Moneyweb]
- Third wave: Regardless of the transfer again to lockdown stage 1, president Cyril Ramaphosa has echoed warnings from well being consultants that the nation might quickly face a 3rd wave of Covid-19, because the winter months method, and the vaccination programme rolls out in phases. Eased lockdown shouldn’t be seen as a purpose to desert precautions and non-pharmaceutical strategies of prevention. South Africans are urged to maintain social distancing, sanitising, and masks carrying. [TimesLive]
- Injury performed: South Africa’s tourism and hospitality business is aching to get again to enterprise, with eating places, bars, and standard vacationer locations nonetheless tending to their wounds from lockdown. Eating places and bars are grateful for the narrowed curfew hours, which can enable them to function for longer, whereas SANParks is hoping to get again to regular revenues after struggling an enormous blow to its financials over the previous 12 months. [ENCA, EWN]
- Lethal drive: Police minister Bheki Cele has known as on law enforcement officials to defend themselves and use lethal drive when doing so, after six cops had been killed in incidents over 10 days. Talking on the funeral of the officers, the minister mentioned the SAPS was shocked by the killings, and mentioned that police ought to reply to criminals “decisively”, and keep in mind that the legislation is on their facet after they use lethal drive to defend themselves. [News24]
- Markets: A rebound within the bond market, following staggering spikes in yields over the course of final week introduced some calm to the market within the in a single day session, with the rand clawing again some misplaced floor following a contact on R15.20 to the greenback. Manufacturing PMI is due from the UK, EU and US at this time whereas the discharge of car gross sales is scheduled regionally for this afternoon. The rand begins the week at R15.02 to the greenback, R18.15 to the euro and R21.02 to the pound. [Citadel Global]