SA to ease restrictions on restaurants, other businesses, sports; Aspen Covid-19 drug; Tongaat Hulett

By Jackie Cameron

  • Although the number of Covid-19 cases is rising sharply, South Africa is set to lift some lockdown restrictions soon to ease the economic burden and curb job losses. This was the announcement by President Cyril Ramaphosa on Wednesday night in his address to the nation. Restaurateurs, hairdressers and beauty salon practitioners are among those who will soon be able to get back to work.
  • Dexamethasone, manufactured in SA and Germany under a global licence by Johannesburg-listed Aspen, has been hailed as a major breakthrough in the global battle to reduce the number of deaths from Covid-19. At the weekend, it was revealed in the UK that the cheap drug had proved remarkably effective in bringing down the death toll at hospitals. The Telegraph said that the steroid, bought for the equivalent of about R100 (ÂŁ5) in the UK and already available in British hospitals, cuts deaths of people on ventilators by one third and will be rolled out this week. The Aspen price powered up on the Johannesburg Stock Exchange, ending 10% higher by the end of trading in anticipation that Dexamethasone will be in high demand globally. For more on that story, do listen to Inside Covid-19 with Alec Hogg, who shares the latest insights and analysis on the pandemic.
  • National Director of Public Prosecutions Advocate Shamila Batohi says the tide against corruption is turning.  This follows the arrests in connection with the looting of R2bn worth of pensioners funds at VBS Mutual Bank. Among the arrests was a KPMG auditor, Sipho Malaba, alleged to have pocketed millions. Godfrey Lebeya, the head of the Directorate for Priority Crime Investigation, also known as the Hawks, says at least 8 people face a string of charges including theft, fraud, corruption and money laundering. You can listen to the briefing on the arrests, on BizNews.com.
  • Troubled sugar producer Tongaat Hulett said on Wednesday it would sell a sugarcane farm in eSwatini to the country’s public pension fund for R375m. The move is part of an effort by Tongaat to cut its debt by R8bn by selling assets, cutting costs and potentially even raising capital.
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