5 vital issues taking place in South Africa at the moment

5 vital issues taking place in South Africa at the moment

Right here’s what is occurring in and affecting South Africa at the moment:

  • Rich to migrate: The lack of rich South Africans to emigration is changing into one of many greatest worries for insurers within the nation, who’re shedding inputs to their financial savings swimming pools in consequence. Momentum Metropolitan CEO Hillie Meyer mentioned that as the rich go away the nation, the remaining consumer base is below extra strain as fewer folks can afford financial savings and retirement merchandise. Trade consultants have raised purple flags across the nation’s richest leaving. [BusinessLive]

  • Definitely worth the paper: A latest examine evaluating South Africa’s Nationwide Senior Certificates to 5 different worldwide {qualifications} has discovered that it’s on par with worldwide requirements however typically has a distinct focus. The examine checked out {qualifications} from Kenya, New South Wales, Cambridge and Zimbabwe, and a global certificates. South Africa differed most with maths and science, the place the main target was on spatial somewhat than mechanical functions, and chemistry and physics have been mixed. [TimesLive]

  • Vaccines: The South African authorities is planning to eliminate 8.5 million Pfizer Covid vaccine doses on the finish of October – a staggering determine that, consultants say, reveals how the nation’s vaccine marketing campaign missed the mark. The nation has a stockpile of 10.1 million Johnson & Johnson vaccines that can expire between June and September 2023, that are additionally now in query. The federal government aimed for a 70% vaccination charge however solely managed round 35%, information reveals. [News24]

  • Phala Phala: Former Chief Justice Sandile Ngcobo will lead an impartial panel to contemplate whether or not President Cyril Ramaphosa ought to face an impeachment inquiry. Speaker Nosiviwe Mapisa-Nqakula introduced on Wednesday night time that Ngcobo, former Gauteng division choose Thokozile Masipa, and College of Cape City regulation professor, Richard Calland, will contemplate the proof associated to an alleged cover-up of a theft on the president’s farm. [EWN]

  • Markets: The rand took an enormous hit after the US CPI numbers this week, closing 2.0% weaker according to an enormous sell-off in EM currencies. US CPI for August got here out at 8.3% YoY vs market estimates of 8.1% however nonetheless down from July’s 8.5%. What spooked the market was the rise of 0.1% within the MoM determine, which was anticipated to fall because of the sharp drop in gasoline costs. On Thursday, the rand was buying and selling at R17.49/$, R17.42/€ and R20.13/£. Brent crude is buying and selling at $94 a barrel. [TreasuryOne]

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