Expect Covid-19 life for 1 year – CR; lockdown risks more lives than it saves: Allan Gray; Oppenheimers help Phumelela

By Jackie Cameron

  • The number of reported Covid-19 deaths reached 206 in South Africa on Monday, which is a relatively small figure of the 284,000 deaths worldwide. Andrew Lapping, the Cape Town-based chief investment officer at private investment house Allan Gray, is among the analysts who warn that Covid-19 containment measures are having a devastating effect on the long-term health of the economy. He says, reports Bloomberg: “Economic and human costs are two sides of the same coin. Studies indicate that mortality rates double with job losses.” He continues: “I am concerned that our government’s lockdown approach and the subsequent economic hardship inflicted on our people will cost more lives than it can save.” Business leaders have been calling for easing of restrictions that have brought most economic activity to a standstill, leading to warnings that the economy could shrink by at least 16% this year.
  • We must be prepared to continue to live with the coronavirus among us for a year or even more, President Cyril Ramaphosa has told South Africa in his e-newsletter. He has not backed down on the country’s strict lockdown measures. In his email to the nation, President Ramaphosa says: “Since the beginning of May, when we began the gradual easing of the nationwide coronavirus lockdown, many people have started returning to work. As part of the phased recovery of the economy, companies in certain specified industries have been able to resume part or all of their operations.” The president warns this is going to be a long road for the country: “We must be prepared to continue to live with the coronavirus among us for a year or even more. We must be prepared for a new reality in which the fight against Covid-19 becomes part of our daily existence.” You can find the President’s full letter on BizNews.com.
  • With the horse racing sector teetering on collapse as a result of Covid-19 containment measures that have halted all sporting activity, a branch of the Oppenheimer family has moved to help Phumelela, a horse racing company in deep trouble. Phumelela, the nation’s biggest horse racing company, will be receiving a R100m ($5.5m) lifeline from Mary Oppenheimer Daughters after the racetrack owner filed for a local form of bankruptcy protection, reports Bloomberg. The failure of Phumelela would have a devastating effect on the industry, and the funds are an attempt to save the sector, Wehann Smith, a board member of Mary Oppenheimer Daughters and a director of the Racing Association, is reported as saying.
  • The Johannesburg Stock Exchange is to offer temporary relief to companies in financial distress because of the coronavirus crisis, including cutting fees for new listings and extended payment terms. “The small cap counters are among the most vulnerable in strained markets. The discounts we are announcing for these market segments are aimed at stimulating liquidity and supporting this vital growth node of our economy,” JSE Group Chief executive Leila Fourie said in a statement.
GoHighLevel
gohighlevel gohighlevel login gohighlevel pricing gohighlevel crm gohighlevel api gohighlevel support gohighlevel review gohighlevel logo what is gohighlevel gohighlevel affiliate gohighlevel integrations gohighlevel features gohighlevel app gohighlevel reviews gohighlevel training gohighlevel snapshots gohighlevel zapier app gohighlevel gohighlevel alternatives gohighlevel pricegohighlevel pricing guidegohighlevel api gohighlevel officialgohighlevel plansgohighlevel Funnelsgohighlevel Free Trialgohighlevel SAASgohighlevel Websitesgohighlevel Experts