Rand strengthens; Covid-19 deaths near 800; taxpayers fund King Goodwill pay increase to R72m; Mediclinic

By Jackie Cameron

  • South Africa has reported 50 more Covid-19 related deaths. This brings the total reported number of deaths from Covid-19 to 755, with 567 of these in the Western Cape, says the government. The cumulative number of confirmed Covid-19 cases in South Africa is 35 812. A staggering 65% of all new cases were reported in the Western Cape, with other provinces reporting far lower rates of spread.
  • South Africa’s long-suffering taxpayers will fund Zulu King Goodwill Zwelithini’s lifestyle to the tune of about R72m. This is according to Cape Talk, which reports that last year King Zwelithini received R66.7 million. KwaZulu-Natal Premier Sihle Zikalala defended the large payment to Zwelithini, reportedly saying residents also benefit by way of cultural events and ceremonies. “We can’t keep on increasing the King’s budget and yet we are saying we are facing an economic crisis,” the Democratic Alliance’s (DA) leader in KZN, Zwakele Mncwango is reported as saying. The DA leader asked: “If there is a budget cut for service delivery, why are there no cuts to the King’s budget?”
  • The Vaal Dam has plunged to a record low, sparking warnings to residents who rely on the water source to take steps to save water. The dam is a far cry from the 70.8% it recorded last year in the same week, dropping to 48.9%, says the government.
  • Mediclinic shrugged off a nearly R7bn loss on Wednesday, with analysts telling BizNews that long-term demand for private healthcare looks promising. On Wednesday, the Mediclinic share price reached an intra-day high of R65.50 before ending flat in brisk trade where more than one million shares to the value of R69m changed hands. There’s more on Mediclinic’s prospects on BizNews.com.
  • South Africa’s rand strengthened on Wednesday, trading at its strongest in 11 weeks against the US dollar in early trade. Less than R17 was trading for one greenback by late on Wednesday. Analysts say that investor appetite for riskier assets sparked the improvement in value of the rand against the US currency. And, the improvement as also spurred by prospects of a swift global economic rebound. For more on the rand’s robust recovery, visit BizNews.com where you will find the latest analysis on the rand’s value.
(Visited 2,939 times, 2 visits today)