News

South African Reserve Bank Governor Lesetja Kganyago dismissed suggestions that the central bank’s inflation-targeting mandate be broadened and that it undertake quantitative easing to support an economy facing its deepest contraction in almost nine decades.

If there’s a move to lockdown level 2, industry players haven’t heard of it; South Africa may be exhibiting Covid-19 herd immunity in very localised areas; load shedding is back on Thursday – and the country’s power crisis may get a lot worse; and the Reserve Bank sticks to its guns on its mandate.

The Unemployment Insurance Fund says it will open and begin processing the July/August Covid-19 Temporyl Employee Relief Scheme Benefits applications from Monday (17 August).

South Africa’s Rand Merchant Bank, the investment banking arm of FirstRand Ltd, has been appointed as an adviser to help the government assess offers for stakes in its insolvent national airline, according to two people familiar with the situation.

South African President Cyril Ramaphosa is preparing to ease lockdown restrictions, including the possible scrapping of an alcohol sales ban, according to people familiar with the matter.

South Africa’s Rand Merchant Bank, the investment banking arm of FirstRand, has been appointed as an adviser to help the government assess offers for stakes in its insolvent national airline, according to two people familiar with the situation.

Justice and Correctional Services minister Ronald Lamola has released new data on the number of South Africans which have been prosecuted for breaking lockdown rules since 26 March.