Right here’s what is occurring in and affecting South Africa at this time:
Coronavirus: World Covid-19 infections at the moment are over 10.6 million confirmed because the begin of the yr, with the loss of life toll climbing to 516,000. In South Africa, one other alarming every day enhance takes the nation’s complete to 168,061, with deaths as much as 2,844. Recoveries additionally elevated to 81,999, leaving a stability of 83,218 energetic instances.
- Gauteng healthscare: Gauteng hospitals are beginning to really feel the stress of the Covid-19 pandemic, significantly with the provision of hospital beds, in line with reviews. The province is now experiencing every day will increase of over 3,000 new instances. If these numbers persists, it would triple the province’s variety of infections by the top of the month, with some projecting that it’ll hit 300,000 by the top of August. 3 993 new instances have been reported within the province on 2 July. 
- Faculty daze: A speedy enhance in Covid-19 instances in South Africa has pushed the Division of Fundamental Schooling to delay many grades from returning to high school subsequent week, with solely grades R, 6 and 11 set to return on 6 July. Regardless of the delays, the division remains to be coming beneath hearth from critics for pushing youngsters again to high school in any respect, saying it’s like sending them into a hearth. The division says that life has to go on, nevertheless, and that the majority youngsters ought to be again at college by the top of the month. [EWN]
- Admin points: The specter of being positioned into administration hangs over the top of the Metropolis of Joburg, because the municipality didn’t cross a finances in time for the brand new monetary yr. A municipality can’t spend any cash with out an accredited finances, as it might be recorded as irregular expenditure. The delay is as a result of want for occasion consultations which has been hampered by Covid-19. The council is a hung municipality led by an ANC-coalition, with no single occasion majority. [TimesLive]
- Retrenchments: Extra powerful time for employees in South Africa as TERS funds to help with Covid-19 have come to an finish on the finish of June, which is anticipated to see a flood of recent instances to land on the CCMA. The group already reviews retrenchment instances virtually tripling since final yr. Instances representing over 105,000 employees have already landed. In the meantime, 4 unions are prepared to just accept SAA’s retrenchment packages. Nevertheless three are nonetheless holding out because the enterprise rescue plan will get reassessed. [M&G, ENCA]
- Markets: The dominant sentiment of market optimism stays intact, with little change as this week attracts to an in depth. The rand, together with different rising market currencies, rallied on the again of sturdy information and international financial prospects, outweighing any dangers within the horizon. Some liquidity constraints are anticipated at this time as the USA celebrates Independence Day. On Friday the rand is at R16.97 to the greenback, R21.15 to the pound and R19.06 to the euro. Commentary by Peregrine Treasury Options. [XE]