COVID-19 LOCKDOWN - Regulations, Directives and Notices
All Lockdown Rules, Regulations and Notices are based on the President’s Address of the Nation on the Coronavirus on 23 March 2020. The best way to draw a picture of all one can or cannot do and what is open and what is closed is to sort by Alphabetical Keywords what has been said, governed or ruled for the Lockdown Period.
Lockdown in this context shall mean:
Every person is confined to his or her place of residence, unless strictly for the purpose of performing an Essential Service (Annexure B.B COGTA Notice) or Critical Service (List of Critical Services), obtaining an Essential Good (Annexure B.A COGTA Notice) or service, collecting a social grant, or seeking emergency, lifesaving, or chronic medical attention.
eBRIEF Special Edition on Covid-19 Lockdown Regulations
The 52st Edition of the Into SA eBRIEF deals with Facts and Regulations around the Presidential National Lockdown due to the COVID-19 Pandemic.
Read it here: http://eepurl.com/gXJdjX
And don’t forget to subscribe at the bottom right of our home page.
Stay safe and make the best out of these 21 Days!!
SARB decides on Interest Rate Cut of 100 Points
The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) decided to ease the level of the local Repo Rate and dropped it by 100 Basis Points. It is therefore from today 5.25%, translating to a prime lending rate of 8.75%, which brought the country’s prime lending rate to levels last seen around 2013.
It was a bold move by the South African Reserve Bank, and shows that SARB realises the devastating impact that the coronavirus will have on the economy. It was reported that the decision was unanimous, and it hoped it would go some way in easing financial pressure on households and firms, improving resilience.
The last time the interest rate was cut by a full percentage point in one meeting was in 2009, during the …
Rand in free Fall showing no Resilience
The South African Rand was unable to capitalise on a broad-based US Dollar sell-off last week, ending the five daily sessions flat on aggregate after losses towards the end of the week unwound Monday and Tuesday’s gains.
Since then, however, the local unit has come under immense selling pressure this morning, breaking above the 16.00/US$ and almost breaking through the 19.00/EUR barrier for the first time since early 2016 amid global financial market chaos. Equities and other high-risk assets across the world have plummeted this morning as panic selling set in, with traders showing grave concern over the potential economic impact of the COVID-19 virus epidemic while simultaneously digesting a free-fall in oil prices after Saudi Arab…
Moody's reduces Growth Forecast
Rating agency Moody’s has cut South Africa’s growth forecast from 0.7% to 0.4% for 2020, on the back of the global coronavirus outbreak.
“The global spread of the coronavirus is resulting in simultaneous supply and demand shocks,” Moody’s said in a global research report.
This, in turn, will impact South Africa’s growth prospects, it said.
Other economists have forecast similar drops on the back of the virus – particularly due to the impact of the virus on China, where it first broke out.
China is South Africa’s biggest trade partner, and its expected growth of 6% for the year has been forecast to be as low as 4.8% because of the virus’ impact on trade and manufacturing in the market.
According to PwC, for every percent Ch…
Internet Access about to be fully restored
Rejoice! The cable breaks along the west coast of Africa which left South Africans with slow internet connectivity should hopefully be repaired by today.
Initial repair delays
The issue has been ongoing since January, and repairs were initially halted due to weather conditions preventing the repair vessel from setting sail.
On 21 January, REN Alerts confirmed that the vessel was still docked, but would be able to depart the following day. While that sounded wonderful, the vessel would still take a week to reach its destination, and another week for repairs to be carried out.
Since then, SA’s main internet providers were forced to purchase additional international bandwidth to keep us connected to the rest of the world. It’s a…
Interest Rates drop by 0.25%
In its first meeting in 2020, the Monetary Policy Committee of the South African Reserve Bank has unanimously decided to cut the Repo Rate by 0.25% from 6.50% down to 6.25%. This translates into the prime lending rate of South Africa finally dropping out of the two-digit realm and being now 9.75%
This is a welcome break for all home loan debtors in these challenging times.
Failure @ Government .co.za
The departments of government have in 2019 – more than ever before – across the board and for reasons beyond any comprehension discontinued to fulfil their mandates to administrate and serve the public, us, the residents of South Africa. Here are some “Downlights” of the last year, which can leave one only speechless, frustrated and in awe of the shenanigans this circus has served us as politics. Let’s rewind and review what our "government” was up to last year:
FINANCE: SARS’ Vat Fraud
Already in October 2018 SARS admitted to a four-year backlog of VAT Refunds, totalling a staggering ZAR 20 billion in VAT refunds owed to companies. Former and current senior SARS officials, who have appeared at the Nugent commission of…
Vice President embarrasses Nation by defending Load Shedding as a Sign of Growth
Deputy president David Mabuza’s take on the electricity crisis left many South Africans in utter disbelief.
“The shortage of electricity is a sign of growth.”
Mabuza made this remark in parliament on Wednesday while responding to questions on youth unemployment and the fourth industrial revolution.
“Yesterday, electricity was only given to a few people. Today, electricity is given to millions of people … this economy is growing and therefore we are bound to have challenges. These challenges are very positive because they propel our growth,” he said.
Mabuza’s comments coincided with Eskom’s announcement on Wednesday that there was a possibility of load-shedding on Thursday. "Deputy president, I’m sure you’ll agree with…
The Rise and Fall of FNB - More erratic Account Closures
Following our recent summary of the current policy of FNB to get rid of customers who complain about lack of service or demand rectification of erroneous banking fees levied, the policy of the current Board to terminate all accounts that are inconvenient continues.
In a most recent wave of account closures it now hit also prominent cryptocurrency dealers such as LUNO, ICE3X and VALR and their accounts – although being maintained without flaw – have been terminated, causing a significant inconvenience for those customers, who funded their Cryptocurrency Accounts through their FNB Bank Account.
Official reason is – please do not laugh but the creative team for bogus reasons seems to run out of fake excuses:
_FirstRand Bank ha…