7 Important Things Happening in South Africa Today

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.







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