If you need to know all the latest news in South Africa, you’ve come to the right place. Check out all major headlines on Friday 20 March 2020.
As the economy splutters under the weight of COVID-19, interest rate cuts and proposed packages look to lighten the financial strain experienced by regular citizens. Worryingly, coronavirus cases continue to rise at a steady rate, calling for stricter regulations to be implemented according to the Disaster Management Act. In sports news, local soccer fans have been left in the lurch by the indefinite postponement of all matches.
Today’s latest news in South Africa, Friday 19 March
Interest rate slashed by 1% amid coronavirus crunch
South African Reserve Bank (SARB) governor Lesetja Kganyago’s decision to cut the interest rate from 6.25% to 5.25% on Thursday will provide marginal relief for general consumers but little joy for investors.
The decision to slash the repo rate comes at a time when the world is buckling under the pressure of one of the fiercest pandemics in recent history; the COVID-19 outbreak which has thrown both the world’s social and financial routine into a tailspin.
Travel bans, quarantines and the closing of businesses have had a devastating impact on the economy, with the looming threat of severe job losses proving to be an especially daunting prospect for South Africa’s already-beleaguered socioeconomic makeup.
Kganyago noted that the decision to cut the repo rate cut was made easier by the recent collapse of oil prices.
Ramaphosa mulls economic stimulus package
President Cyril Ramaphosa is expected to announce a series of measures, endorsed by the National Treasury, which are intended to alleviate the tight strain currently being shouldered by businesses and employees.
As the economy grinds to a coronavirus-related halt, the proverbial pinch being felt by South Africans is more akin to a sledgehammer blow.
The shutting of stores, cancellation of events and general downturn in production has led to uncertainty and panic. With many citizens wondering where their next pay check will come from, and many businesses closing up shop, some with the hope of returning, some not, government is expected to provide some relief measures.
Both the Economic Freedom Fighters (EFF) and the Freedom Front Plus (FF Plus) have called on Ramaphosa to announce a tangible economic stimulus package, which will include the suspension of loan payments, amongst other measures.
Establishments bemoan ‘brutal’ regulations
Club, pub, shebeen and restaurant owners have been highly critical of government’s approach to the COVID-19 outbreak. Minister of Cooperative Governance and Traditional Affairs, Nkosazana Dlamini-Zuma, recently announced that, in accordance with the Disaster Management Act, the abovementioned outlets, if serving alcohol, would need to close at 18:00 from Monday to Saturday.
Initial concern over all-out ban was addressed by Police Minister Bheki Cele, who noted that establishments were allowed to stay open but that the sale of alcohol outside of the stipulated hours would be prohibited and punishable.
Despite clarity on the law, establishment owners have reiterated the devastating impact prohibition will have on their lives, businesses and livelihoods of those they employ.
Number of coronavirus cases rise to over 150
On Thursday, Minister Dlamini-Zuma revealed that the number of positive coronavirus cases in South Africa had risen to over 150 – this number is expected to rise even further when Health Minister Zweli Mkhize updates the country on the spread of the outbreak later today.
COVID-19, which was first identified in South African on 5 March, has since spread to six provinces.
While addressing the South African Medical association on Thursday evening, Mkhize noted that the number of confirmed cases was expected to exceed 200 on Friday 20 March.
PSL ‘flexible’ on finishing SA Premiership by 30 June
As the SA Premiership season remains suspended for the foreseeable future, the Premier Soccer League (PSL) will be open to finishing the season after 30 June.
The PSL suspended its leagues due to the spread of Covid-19, with reported infections rising to 150 in SA on Thursday.
“Whilst our intention is to complete the season by no later than 30th June 2020, because of the existing uncertainties in our country we shall remain flexible,” said the PSL in a statement on Thursday.
SA golfer Lange tests positive for COVID-19
South African golfer Victor Lange has tested positive for COVID-19.
Playing on the PGA Tour’s Latinoamerica circuit, was tested on Sunday and received his diagnosis on Tuesday.
The 26-year-old competed in the Estrella del Mar Open in Mazatlan, Mexico, which ended on March 8 before returning to South Africa when he was tested for the coronavirus.