By Nadim Nyker
- A coronavirus vaccine could be approved this year. The hopeful news comes after a flurry of trials have shown promising results. According to Bloomberg, Marco Cavaleri, head of anti-infectives and vaccines at the European Medicines Agency, said it all depends on whether data will be sufficient enough for allowing any kind of approval by the end of 2020. With the agency gearing up for the possibility.
- The Minister of Employment and Labour, Mr Thembelani Nxesi (MP), was admitted to hospital last night due to Covid-19. The Minister tested positive for the coronavirus almost a week ago and has, until last night, been in self-quarantine at home. Minister Nxesi is the second member of Cabinet to be admitted to hospital after Minister Gwede Mantashe. We wish both Minister Nxesi and Minister Mantashe a speedy recovery.
- SA stocks are set to snap back from the year’s losses, with Naspers pushing stocks back into recovery. Naspers stocks are up 44% this year as the lockdown proved good for business in China. With an increase in demand for online services provided by internet giant Tencent, in which the company based in the Mother City, holds a 31% stake.
- Zimbabwean journalist, Hopewell Chin’ono, has been detained by his own government after speaking out against corruption. Chin’ono was arrested on Monday ahead of mass demonstrations against corruption, planned for 31 July. His attorney, Beatrice Mtetwa, has described the arrest as an abduction by eight state security officials. Chin’ono himself, recorded the incident on his phone and sent out a distress signal on social media. Chin’ono is an award-winning international journalist and documentary filmmaker. He is a Harvard University Nieman Fellow and a CNN African Journalist of the Year winner.
- According to Reuters, Finance Minister Tito Mboweni said in court papers, that government have committed to fund a restructuring plan for the struggling South African Airways. Administrators took over SAA in December, after almost a decade of financial losses. Last week creditors approved the restructuring plan, which requires at least R10bn of new funds, on the understanding that government would find the necessary cash. Mboweni said, that funding options included approaching institutions for investment of pension funds, private equity or other partners who might want a shareholding in a restructured SAA. In a document sent to trade unions, administrators said SAA had made a net loss of R5.5bn in the year to end-March, with further losses incurred since.
- In other news, Amazon founder Jeff Bezos added $13bn to his net worth on Monday. This was the largest single-day jump for an individual, since the Bloomberg Billionaires Index was created in 2012. Amazon shares increased  7.9%, the most since December 2018 on the rising optimism about web shopping trends, and are now up 73% this year. Bezos has seen his fortune swell from $74 bn to $189.3bn in 2020. This is despite the US entering its worst economic downturn since the Great Depression.
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