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Covid-19 update: 1,353 confirmed cases in South Africa, the Minister of Health Dr Zweli Mkhize said late on Tuesday.
SA banks will help at least 80% of customers, and those who have kept up with debt repayments until now, according to a bank survey.
Financial markets and the rand could be volatile as the news of a ratings downgrade is absorbed. The decision by Moody’s could not have come at a worse time.
As the confirmed cases of Covid-19 in South Africa head towards 1,000, the country has gone into a national lockdown for 21 days.
South Africa’s central bank launched a bond-buying programme Wednesday, as it followed other countries in quantitative easing measures to support banks.
Supermarkets have been inundated by shoppers as South Africa braces for a three-week lockdown aimed at curbing the spread of the coronavirus.
Ramaphosa has announced a 21-day lockdown starting at midnight on Thursday to contain the spreading of Covid-19 and ‘flatten the curve’ in South Africa.
South Africa could lose its last investment-grade credit rating this week. Moody’s Investor Service is scheduled to release an assessment of the country on Friday.
The SA Reserve Bank has cut its benchmark interest rate by the biggest margin in more than a decade as it seeks to support an already fragile economy.
The All Share Index plummeted by 7.15% on the JSE with the top 15 Financial companies losing 12.43% of their value; resources were down 8.54%.