Author: Gugu Lourie

The Business for SA (B4SA) is not disclosing the names of the panel members that sidelined black businesses in the allocation of multimillion-rand contracts for sourcing equipment for the fight against COVID-19. The business group – made up of the Black Business Council and Business Unity South Africa – was formed to support the government’s efforts to deal with the effects of COVID-19. B4SA – has been procuring much-sought-after PPEs (personal protective equipment) on behalf of the government and the Solidarity Fund. This week, the organisation refused to reveal the names of those panel members entrusted with appointing PPEs suppliers, according…

Applications for the COVID-19 Social Relief of Distress grant will open on Monday, May 11, the SA Social Security Agency (Sassa) announced late on Saturday. The criteria for the application were gazetted later on Saturday to enable implementation and allow millions of deserving members of the public to access the grant.  Lindiwe Zulu, Minister of Social Development, will present a comprehensive report on the matter to the National Coordinating Council today Sunday, May 10. WhatsApp and related electronic application options will go live on Monday, and this will be demonstrated during a media launch to be addressed by Minister Zulu. In…

The South African government is suppressing information from the public about COVID-19. The Sunday Times reported that the government is doing this to “avoid panic.” Leading experts have questioned why COVID-19 modelling data is being kept under wraps by the government. “We don’t want to put these models out to the public as if they are the gospel truth,” President Cyril Ramaphosa’s spokesperson, Khusela Diko, told the Sunday Times. “There is an element where we want to avoid panic in communities, and we’re also mindful of the stigma of the virus.” She conceded that “we need to allow people to…

With economic data for April beginning to show the devastating impact of the first full month, Business for SA (B4SA) has urged the government to move quickly to level 2. The business group – made up of the Black Business Council and Business Unity South Africa – was formed to support the government’s efforts to deal with the effects of COVID-19. Modelling by B4SA shows that if level 4 continues for a month, with a gradual move to lower levels, the economy will contract 14.5% in 2020. The Sunday Times reported that B4SA is calling for a swift move to…

SAveabusiness, a platform that works in collaboration with citizens to save small South African companies that have been hardest hit by COVID-19, is offering grants of R20 000 to struggling businesses. Donations are offered to ten businesses struggling to operate during the lockdown, weekly. During COVID-19, small businesses in South Africa have few options of relief during a time of lockdown and no business activity.  SAveabusiness is looking to gain the support of civil society and large businesses to ensure that small businesses make it through this period. SAveabusiness looks to the public to swiftly and meaningfully take action and…

A total of 324 079 COVID-19 tests has been conducted, of which 16 327 are new tests from those reported yesterday. Case Data “There are 525 new confirmed COVID-19 cases, with the total number of confirmed cases at 9 420,” said Dr Zweli Mkhize, Health Minister. Province New cases Total cases Percentage total Eastern Cape 89 1078 11,4 Free State 1 134 1,4 Gauteng 60 1910 20,3 KwaZulu-Natal 54 1308 13,9 Limpopo 7 51 0,5 Mpumalanga 1 61 0,6 North West 0 41 0,4 Northern Cape 1 28 0,3 Western Cape 312 4 809 51,1 Unknown 0 0 0,0 Total 525 9 420 100 Deaths…

Correctional services centres across South Africa have 172 confirmed cases of COVID-19, with three deaths and 59 recoveries. A total of 95 officials have tested positive for COVID-19, with 77 inmates also being affected by the virus. “Currently, our COVID-19 preventative measures are stretched to the brink. We have managed thus far, but the spread of the virus continues. We ought to act decisively and prevent this invisible killer from rapidly multiplying in our centres,” Minister of Justice and Correctional Services Ronald Lamola said. The Minister was on Friday briefing members of the media in Tshwane on the Special COVID-19 Parole…

President Cyril Ramaphosa announced on Friday that he has authorised the placement on parole of selected categories of sentenced offenders as a measure to combat the spread of COVID-19 in correctional facilities, which are considered high-risk areas for infection. In a statement, Ramaphosa said the presidency has taken this step in response to a call by the United Nations for all countries to reduce prison populations so that social distancing and self-isolation conditions can be observed during this period. The President has taken this decision under the terms of Section 82(1)(a) of the Correctional Services Act of 1998 which empowers…

The Vumatel investment is an excellent case study of how mezzanine debt can unlock growth opportunities where banks remain risk-averse,” says Warren van der Merwe, co-managing partner at Vantage Capital. “In this way, Vantage Capital plays an important role in supporting mid-size corporates before they are sufficiently established to fully fund its operations and growth ambitions with bank debt.” Africa’s largest mezzanine debt fund manager Vantage Capital announced it had fully exited its investment in fibre-to-the-home operator Vumatel. “Mezzanine” refers to a hybrid of debt and equity financing that gives the lender the right to convert to equity interest in the case…

by Vijay Reddy By mid-April, about 1.725 billion students globally had been affected by the closure of schools and higher education institutions in response to the coronavirus pandemic. According to the UNESCO Monitoring Report, 192 countries have implemented nationwide closures, affecting about 99% of the world’s student population. This is unprecedented. The scale and complexity of what’s happening is entirely new territory. In recent decades crises such as natural disasters, armed conflicts and epidemics have disrupted education around the world. For example, in 2005, Hurricane Katrina in the US destroyed 110 of New Orleans’ 126 public schools. In the past…