The South African nation and its people are dealing with many changes and events. Here’s a list of 7 important things happening in South Africa today.
1.
Comair Liquidation to
Start Soon
The South African
aviation company Comair has lodged a court application to wind down the company.
Though it has assets worth at least R3.5 billion, the decision was taken after
it could not secure the R500 million to stay afloat. According to its business
rescue practitioners, there is an urgent need to place its assets under a
court-appointed liquidator to ensure their value for creditors is preserved.
2.
Coronavirus is Not Over
Yet
In South Africa,
there were 655 new cases of coronavirus. It took the total reported to
1,559,113. With a daily increase of 34, deaths have reached 53,356. Thankfully,
recoveries have risen to 1,484,356. South Africa currently has 21,401 active
cases of COVID-19. The total number of COVID-19
vaccines administered in South Africa stands at 289,787.
3.
Collapse of the Road
Accident Fund
Civil group Outa has stated that the South
African government has completely lost control of the Road Accident Fund. The
fund is R300 billion in debt and might be on the brink of collapse. The group
noted that the fund is being plundered by unscrupulous lawyers and officials enabling
it. The fund had grown from R9 billion to R45 billion a year while taxpayers kept
footing the bill. If the fund collapses, motorists must fend for themselves in
accidents. Many of them might never receive compensation.
4.
Certifications Can be
Corrupted
South Africa’s
incoming vaccine certificates must be protected from corruption and abuse.
According to the Worker federation, Cosatu, there are raised concerns about corruption
harming the process of accessibility to the certificates for people in rural
areas as people might be able to buy a certificate from corrupt officials and put
the integrity of the entire vaccination program at risk.
5.
Difficult Decision Ahead
Investment:
Finance minister Enoch Godongwana believes that the government must make
difficult decisions to achieve economic growth. He said the government must
remove barriers for businesses to operate and grow in South Africa and draw
investment urgently. He wants the ANC and the government to create a conducive investment
environment.
6.
South African Markets
The South
African rand gained strongly on Thursday because the country’s trade surplus
widened more than expected last month. Also, the credit extension picked up,
and the dollar fell on global markets. Bumper commodities prices, especially
for precious metals, which is an essential part of South Africa’s export, have
bolstered the country’s terms of trade this year and supported the rand. The
rand was trading at R15.13/$, R17.51/€, and R20.35/£ on Friday.
7.
The Sale of Illicit
Cigarettes is Rising
According to a new
Ipsos survey, the sale of illicit cigarettes in South Africa has risen
following an 8% increase in taxes on tobacco products. It also unveiled that 74%
of retailers are selling illicit brands for far less than the minimum taxable
amount.
Sources:
https://showme.co.za/pretoria/news/business-news/5-important-things-happening-in-south-africa-today/
https://businesstech.co.za/news/government/596660/5-important-things-happening-in-south-africa-today-1300/
https://www.gertnelincattorneys.co.za/5-important-things-happening-in-south-africa-today/