Crises bring perspective and positive reflection with them. For instance, President Ramaphosa has been globally recognised with how he has handled the Covid-19 crisis and has continued to display strong and decisive leadership traits. This week he placed Communications and Digital Technologies Minister Stella Ndabeni-Abrahams on special leave and ordered her to make a public apology after she was seen breaking lockdown protocol. This is a refreshing change after the apathy displayed towards errant ministers by the previous President. Crises are challenging but they do shape leaders in one way or another!
For your interest, we have pleasure in including a link to our second edition of, Coronavirus – Economic and Investment Impacts (Updated) in this week’s News Flash.
Coronavirus – Economic and Investment Impacts (Updated)
The Covid-19 pandemic is a source of anxiety and suffering for many people around the world. While political leaders, scientists, NGOs, and other stakeholders are working on solutions to the humanitarian and health dimensions of the crisis, our primary objective as Dynasty is to protect clients’ wealth and look after their financial interests during this difficult time. To that end, please follow this link to our newly updated coronavirus research.
- Senator Bernie Sanders has dropped out of the democratic nominee race. This leaves former Vice President Joe Biden as the front running democratic nominee to face President Trump in the upcoming presidential elections.
- The World Health Organisation (WHO) has warned that lifting lockdown regulations too early would be taking a step backwards. WHO spokesperson Christian Lindmeier said that “It’s similar to being sick yourself; if you get out of bed too early and get running too early, you risk falling back and having complications.”
- A new International Labour Organisation (ILO) report disclosed that Covid-19 has caused devasting losses in employment and working hours. More than four out of five people (81%) in the global workforce of 3.3 billion are currently affected by full or partial workplace closures. The increase in international unemployment in 2020 will depend largely on future developments and policy measures. For some brutal stats follow this link.
- Prime Minister Boris Johnson remains in an intensive care unit where his condition has been described as stable. This is after he contracted Covid-19 and his condition worsened. Foreign Secretary Dominic Raab will now assume Johnson’s responsibilities.
- Economists seem to be confident that China’s central bank won’t follow other international banks in releasing large-scale monetary stimulus.
- President Ramaphosa has placed Communications and Digital Technologies Minister Stella Ndabeni-Abrahams on ‘special leave’ for two months after she was seen breaking lockdown protocol. She issued a public apology but there have been calls for her to resign and be arrested.
- It has been reported that the Minerals Council SA, some unions, and the government have agreed that 60% to 70% of the mining labour force will go back to work on 16/17 April 2020. Protocols will be put in place to limit the spread of Covid-19.
- Finance Minister Tito Mboweni is considering an offer made from the BRICS New Development Bank to lend South Africa $1 billion to fight Covid-19.
- South Africa’s lockdown regulations were amended three times this week. While the government has admitted that it is on a learning curve, this ‘to and fro’ has revealed tension between securocrats and constitutionalists in the Cabinet. Follow this link for more.
- As South Africa’s Covid-19 cases continue to surprise on the downside, research has been undertaken to determine whether the TB vaccination BCG, which has been universally administered to children in the country since 1973, has had an impact on the population’s apparent immunity to Covid-19. This is a very new consideration and there is not enough medical research to prove the theory. Furthermore, the number of people tested for the virus is very low relative to the size of the population and so the actual infection rate may be much higher than currently reported.