Five Newsworthy Things in SA 6th April 2020:

News in South Africa 6th April:     1. Coronavirus response loan: The Treasury says it will take up a $1bn (about R19bn) loan from the New Development Bank (NDB) to fight the Covid-19 epidemic and is still considering facilities offered by other multilateral funding organisations. We are actively looking for cheap money around the […]

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Five Newsworthy Things in SA 3rd April 2020:

News in South Africa 3rd April: 1. Rand slumps further: The rand reached a new all-time low against the US dollar on Thursday, as investors flocked to safe haven assets amid fears of a global recession caused by Covid-19, as well as the downgrade of South Africa’s credit rating to “junk” by Moody’s. Overnight, the […]

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Covid-19 relief announced by SA banks:

Covid-19 relief announced by SA banks: The country’s four full-service banks have all announced relief measures for personal and business customers impacted by the Covid-19 outbreak and nationwide lockdown. The South African Reserve Bank Prudential Authority acted this weekend, publishing three proposed directives for comment. These relate to banks’ liquidity coverage ratios, temporary capital relief […]

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Five Newsworthy Things in SA 2nd April 2020:

News in South Africa 2nd April: 1. Covid-19 calm before storm: The number of people who have tested positive for Covid-19 in South Africa has risen to 1 380. Health Minister Zweli Mkhize revealed there were 27 new cases during a briefing on Wednesday evening. Gauteng is leading the pack with 645 cases followed by […]

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Five Newsworthy Things in SA 1st April 2020:

News in South Africa 1st April: 1. SA bonds in high demand: South Africa may be “junk” now – but the demand for South African bonds at government’s auction yesterday was at a record high, according to a Business Day report. Bids exceeding what government bonds were on offer by more than four times. The country’s […]

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Repayment Holiday do or don’t?

Repayment Holiday do or don’t? The country’s four full-service banks have all announced that they are willing to give their customers debt servicing relief, including reducing one’s monthly instalment or taking a full payment holiday for the next three months. Insurers are also getting similar requests specifically regarding motor insurance as cars are going unused […]

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Five Newsworthy Things in SA 31st March 2020:

News in South Africa 31st March:   1. Economists and Academics letter to President: Dozens of economists and academics have written an open letter to president Cyril Ramaphosa, demanding that the government does more in the wake of the coronavirus crisis, including introducing income transfers to poor households, and giving payment holidays from municipal taxes, rent […]

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Five Newsworthy Things in SA 30th March 2020:

News in South Africa 30th March: 1. SA downgraded to Junk: Following Moody’s downgrade of South Africa to junk, the rand weakened to a new record low of almost R18.07/$ – but that was also due to a stronger dollar. By Monday morning, it was at R17.93 – from R17.67 before the downgrade. The downgrade of South […]

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Five Newsworthy Things in SA 27th March 2020:

News in South Africa 27th March: 1. First lockdown arrests made: Several people have been arrested for allegedly disregarding South Africa’s lockdown rules that officially kicked in at midnight on Thursday. SABC News reported that the South African Police Service (SAPS) raided taverns and clubs where people were gathering and drinking in the early hours of Friday […]

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Five Newsworthy Things in SA 26th March 2020:

News in South Africa 26th March: 1. New regulations for Covid-19 lockdown: South Africa enters a national shutdown on Friday, 27 March. From one minute after midnight, South Africans will be expected to stay home except under very specific circumstances, and businesses that are not essential must be shut down. Failure to comply with the […]

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