Did a silent Coup end Democracy in South Africa?
These are challenging times under lockdown in South Africa due to the world-wide Coronavirus pandemic. Everybody is in survival mode, checking news and social media for updates on all restrictions and spending week after week at home, pondering what is still to come.
But even if one pays tribute to the swift and radical measures imposed to curb the spreading of the disease, we might have overlooked the bigger picture in form of dark clouds that slowly built and are now setting the backdrop for an unrivalled doomsday scenario: The End of our Democracy!
Doesn’t it create shivers down your spine to read in the news about “lockdown”, “curfew” and “compulsory closure of businesses”? Combine that with over 70 000 soldiers patrolling the …
The (evil) COVID GODS of South Africa
We all have seen and experienced the South African political „leaders“ in action in the past, performances ranging from utter ignorance to public clown fests.
But now South Africa is tested, on the world stage with all other countries taking part in a unique contest nobody wanted. The coronavirus, whether he escaped from a market or a laboratory in Wuhan, China, is putting both to the test, subjects and leaders. While the subjects, being most people of the rainbow nation as well as tolerated guests and immigrants from abroad, pretty quickly absorbed whole scores of notices and regulations and succumbed to a unique form of curfew, dubbed „lockdown“, the initial response of the political elite of the country was as admirable as swift an…
ANC Councilors steel Food collected for the Poor
An increasing number of incidents of corruption and food looting has been reported in all provinces except for the DA-governed Western Cape where there were claims that those in charge of the distributions – mostly ANC councillors – were not giving the food to the families that were most in need.
Government’s attempts to feed the poor and vulnerable during the extended lockdown are being hampered as opportunists – mainly local councillors – allegedly divert the aid to themselves and their supporters, and, in some instances, sell them on. In some parts of the country, councillors have been accused of demanding food parcel donations from businesses – parcels which never reach the intended recipients. Community activists, political parti…
SARB cuts Interest Rates further
In a well suggested and highly anticipated move, the Monetary Policy Committee of the South African Reserve Bank (SARB) cut the repo rate by 100 basis points, or one percentage point. This brings SA’s repo rate to 4.25%.
Reserve Bank governor, Lesetja Kganyago, said the decision by the bank’s Monetary Policy Committee was unanimous. The cut will go into effect on April 15. Tuesday’s announcement was the second major cut in less than a month, after the central bank cut the rate by one percentage point in mid-March. In mid-January, meanwhile, the bank lowered the rate from 6.5% to 6.25%. “The May 2020 meeting of the MPC was moved earlier and took place today [Tuesday],” the bank said in a tweet, where it also announced the rate cut.
COVID-19 Tourism Relief Fund now open
The Tourism Relief Fund provides once-off capped grant assistance to Small Micro and Medium Sized Enterprises (SMMEs) in the tourism value chain to ensure their sustainability during and post the implementation of government measures to curb the spread of Covid-19 in South Africa.
Capped at R50 000 per entity, grant funding can be utilised to subsidise expenses towards fixed costs, operational costs, supplies and other pressure cost items.
Guided by the Tourism Broad Based Black Economic Empowerment (B-BBEE) Codes of Good Practices approved by the Minister of Trade and Industries in 2015 (in line with the BBBEE Act No.53 of 2003), the Tourism Relief Fund is administered in line with the objectives of Economic Transformation, and ou…
Private WebPages need to display Link to COVID-19 Site
Every website with a domain name that ends in .za – from government portals to private blogs – must now link to the government’s main Covid-19 page on its front page.
And while the novel coronavirus state of disaster is in place, you can’t change cellphone network providers without losing your phone number.
That is apparently to hinder scammers while the country focuses on fighting the disease.
As of Thursday, every website with a domain name that ends in .za – including every company website that uses the .co.za suffix, every organisation in .org.za, and every academic institution in .ac.za – must link to the South African government’s Covid-19 portal at sacoronavirus.co.za.
That link must be “visible”, and must be on the fron…
Moody's downgrades Economy to "Junk" as well
The decision by Moody’s to cut South Africa’s credit rating to junk could “not have come at a worse time” for South Africa, National Treasury has said, as the country enters a 21-day lockdown period in an effort to slow the spread of the coronavirus.
In its rating action on Friday evening Moody’s cited a deterioration in SA’s fiscal strength and “structurally very weak growth” for its decision to lower the country’s rating to Ba1 from Baa3. The outlook remains negative. It now estimates that SA’s debt burden will reach 91% of GDP in the 2023 fiscal year.
Ahead of Friday evening’s decision, Moody’s was the sole major rating agency to not already have cut SA’s credit rating to junk. Fitch and S&P both downgraded SA to sub investmen…
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 …