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SOUTH AFRICA: Intense exit contestation and a faster reopening from 1 June

SOUTH AFRICA: Intense exit contestation and a faster reopening from 1 June | Speevr

● On Sunday evening, 24 May, President Cyril Ramaphosa announced that, from 1 June, South Africa’s pandemic risk level would be reduced from the current 4 to 3. ● Although infection rates are still rising, Ramaphosa has made significant restart concessions in response to econo…   Become a member to read the rest of this […]

SOUTH AFRICA: Level 4 lockdown till end-May, with some concessions

SOUTH AFRICA: Level 4 lockdown till end-May, with some concessions | Speevr

In an address late on 13 May, President Cyril Ramaphosa said that current “Level 4” lockdown regulations would be maintained countrywide until the end of May, but promised several amendments over the coming days in response to growing criticism of various seemingly irrational loc…   Become a member to read the rest of this article

SOUTH AFRICA: Pandemic response and consensus faltering

SOUTH AFRICA: Pandemic response and consensus faltering | Speevr

● As South Africa concludes its first week of “Level 4” pandemic restrictions, the government’s poor handling of the limited restart and the continuation of seemingly irrational restrictions is fast eroding rare consensus around President Cyril Ramaphosa’s hitherto strong pandemi…   Become a member to read the rest of this article

SOUTH AFRICA: Limited lockdown relaxation from 1 May

Teneo-Europe-Report

President Cyril Ramaphosa this evening, 23 April, announced that the government will implement a “risk-adjusted strategy” to easing the current lockdown restrictions beyond Thursday, 30 April, when the current five-week lockdown is due to end. This hardly amounts to a grand reope…   Become a member to read the rest of this article

SOUTH AFRICA: Go big or go home

Teneo-Europe-Report

● This evening, 21 April, President Cyril Ramaphosa announced a ZAR 500bn (USD 26bn) economic stimulus plan, a massive step up from the meager fiscal and tax interventions announced to date. ● While the details of the speech will be unpicked over the next few days, we outline ke…   Become a member to read […]

SOUTH AFRICA: Piecemeal economic response

SOUTH AFRICA: Piecemeal economic response | Speevr

● Over the next day or two, decisions from today’s cabinet meeting may emerge regarding social grants and the phased restart of some sectors. ● The South African Reserve Bank (SARB) continues to lead the economic policy response to the pandemic and the extended lockdown. ● …   Become a member to read the rest […]

SOUTH AFRICA: Longer lockdown

SOUTH AFRICA: Longer lockdown | Speevr

● Late on 9 April, President Cyril Ramaphosa announced that the current 21-day lockdown would be extended by two weeks, until 30 April. ● While the government’s public health response has been well communicated and resolute, questions around the pandemic’s disastrous economic …   Become a member to read the rest of this article

SOUTH AFRICA: Double trouble

Teneo-Europe-Report

● South Africa’s currency and fiscal woes have taken another hit from Fitch’s 3 April downgrade of the sovereign’s long-term foreign and local currency credit ratings from BB+ to BB, with a negative outlook. ● Although President Cyril Ramaphosa’s decisive handling of the pande…   Become a member to read the rest of this article

SOUTH AFRICA: Nationwide lockdown from Thursday

Teneo-Europe-Report

● President Cyril Ramaphosa has invoked the Disaster Management Act to enforce a nationwide lockdown from 26 March until 16 April to limit the spread of COVID-19. ● Taking its cue from Asian models, the administration is opting for decisive early-stage intervention, in the hop…   Become a member to read the rest of this […]

SOUTH AFRICA: Pandemic adds uncertainty to government’s wage bill battle

Teneo-Europe-Report

● The South African Reserve Bank (SARB)’s rare 100 basis point rate cut today, 19 March, will provide a welcome monetary boost. ● But the fiscal outlook is expected to worsen further, particularly if the anticipated recession and any fiscal stimulus measures combine with a fai…   Become a member to read the rest of […]