JOHANNESBURG (Reuters) &#8211; South Africa’s government may temporarily ban lenders from blacklisting consumers whose credit records have been hit by the coronavirus crisis, a consultation document published by the main opposition party showed.



The Department of Trade (DTI) document said it was considering banning blacklisting and ordering the removal of any adverse information on consumers’ profiles, until Sept. 30 or when a national state of disaster ends, whichever comes first.



“The regulations are aimed at assisting all consumers who are negatively affected by the national state of disaster &#8230; and subsequently have had their credit records deteriorating,” said the document, published by the opposition Democratic Alliance (DA).



The changes would be backdated to April 1, the document said, giving lenders until July 24 to submit written responses.



“Government will carefully consider any proposals &#8230; and will take all views into account before making a decision,” the DTI said, adding Trade Minister Ebrahim Patel would not consider the draft document until the consultation was complete.



The DA said the changes would hit banks’ lending appetite, pushing up the cost of credit, and allow already indebted South Africans to rack up further borrowings.



Separately, Standard Bank (<a href="https://www.reuters.com/companies/SBKJ.J">SBKJ.J</a>) and Investec (<a href="https://www.reuters.com/companies/INVP.L">INVP.L</a>) (<a href="https://www.reuters.com/companies/INLJ.J">INLJ.J</a>) have started offering government-backed coronavirus loans under adjusted terms to allow more firms to access funds, their websites showed, including removing a cap on turnover.



Lenders and the government have been looking to boost take-up of an up to 200 billion rand ($12.17 billion) government scheme to drive lending to coronavirus-hit businesses. Only 10.6 billion rand had been paid out by July 7.



Standard Bank confirmed customers could now access the loans under adjusted terms but had no further comment. Investec and other major banks had no immediate comment.

money-bill-note-south-africa

South Africa may stop lenders blacklisting borrowers during pandemic

JOHANNESBURG (Reuters) &#8211; South Africa witnessed some 17,000 extra deaths from natural causes or 59% more than would normally be expected between early May and mid-July, scientists said, suggesting many more people are dying of COVID-19 than shown in official figures



New data by the South African Medical Research Council (SAMRC), released overnight, showed that just in the week to July 14 &#8211; the latest figures available &#8211; there was an excess of 5,022 deaths by natural causes, about half more than usual.



Africa’s most industrialised nation is in the middle of a runaway epidemic of the coronavirus, with cases increasing by more than 10,000 day and the current total approaching 400,000.



But its recorded death toll is low, at 5,940 deaths or less than 1.5 percent of cases.



Debbie Bradshaw, chief specialist scientist at the government-funded research council, said the figures revealed “a huge discrepancy” between the confirmed COVID-19 death toll and the excess natural deaths.



Richard Lessells, an infectious disease specialist at the KwaZulu-Natal Research Innovation and Sequencing Platform in eastern South Africa, said the figures were not surprising because the same pattern could be seen in other countries.



It could partly reflect other knock-on effects in the health system, such as “if I have a stroke at home and my family decide they don’t want to take me to hospital because it’s too risky and I die at home.”



<h3 class="wp-block-heading">LOCKDOWN EASED BEFORE PEAK</h3>



President Cyril Ramaphosa implemented a tough lockdown at the end of March, shutting shops, ordering people to stay home and sending the army on to the streets to enforce it, back when South Africa had only 400 recorded cases.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="760" height="382" src="https://www.cnbcafrica.com/wp-content/uploads/2020/03/CR-lockdown.png" alt="Ramaphosa tests negative for coronavirus as South Africa to begin lockdown" class="wp-image-365190" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/03/CR-lockdown.png 760w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/CR-lockdown-300x151.png 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/CR-lockdown-696x350.png 696w" sizes="auto, (max-width: 760px) 100vw, 760px" /><figcaption>Ramaphosa tests negative for coronavirus as South Africa to begin lockdown</figcaption></figure>



But a surge in poverty and unemployment in a country that already had too much of both spurred the government to lift restrictions well before the peak of infections.



The council’s data showed 17,090 extra deaths, 11,175 were people over the age of 60, a telltale sign of COVID-19, which is overwhelmingly more deadly for older people.



Addressing parliament by teleconference on Thursday, Health Minister Zweli Mkhize acknowledged the SAMRC figures, adding that they were “comparable to countries like India and Russia, but significantly lower than the UK or Spain.”



Ramaphosa said this month that scientists had predicted up to 50,000 coronavirus deaths in South Africa, a figure which seems possible based on Thursday’s findings by the council.

ramaphosa

South Africa 59% excess deaths imply hidden COVID-19 toll

Millions of children will stay home tomorrow as South Africa will lock down its public schools once again- for four weeks this time &#8211; as COVID-19 cases rocket.Many of the public schools had reopened their doors merely days ago, despite concerns from parents and unions that this may spread the disease. The government also pledged to extend the academic year beyond 2020 to help children cash up with their studies. 



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="397" height="594" src="https://www.cnbcafrica.com/wp-content/uploads/2020/06/gettyimages-1006175054-594x594-1.jpg" alt="" class="wp-image-374814" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/06/gettyimages-1006175054-594x594-1.jpg 397w, https://cms.cnbcafrica.com/wp-content/uploads/2020/06/gettyimages-1006175054-594x594-1-201x300.jpg 201w" sizes="auto, (max-width: 397px) 100vw, 397px" /><figcaption>South African President Cyril Ramaphosa addresses a media conference at the end of the BRICS Summit in Johannesburg on July 27, 2018, as the heads of the BRICS group &#8212; Brazil, Russia, India, China and South Africa &#8212; met in Johannesburg for an annual summit dominated by the risk of a US-led trade war. &#8211; Five of the biggest emerging economies on July 26, stood by the multilateral system and vowed to strengthen economic cooperation in the face of US tariff threats and unilateralism. (Photo by Themba Hadebe / POOL / AFP) (Photo credit should read THEMBA HADEBE/AFP via Getty Images)</figcaption></figure>



South Africa has the fifth highest number of cases in the world and more than half of the continent&#8217;cases, he said. The country needed to be vigilant and strict in taking precautions against disease, President Cyril Ramaphosa said in his address to the nation.



&#8220;An impediment to learning will damage an entire generation,&#8221; says President Ramaphosa. he said this was taken into consideration in making the decision. 



There have been calls to close schools from many groups. The government has met with 16 bodies representing everyone from teachers to parents. 



&#8220;What everyone does agree on though it that health must remain out main concern,&#8221; he sad



&#8220;All public schools should take a break for the next four eweeks. This has been expeienced in other countries schools have opened and had to be closed. This means schools will close July 27 and reopen on August 24.&#8221;



&#8220;The current academic year will be extended beyond 2020. Details of this will be announced soon. We have taken a deliberately cautious approach.&#8221; 



Many public schools reopened just over a week ago, amid sanitising and social distance rules. Many schools reported COVID-19 cases among their pupils.

gettyimages-1152457961-594×594

COVID -19: South Africa public Schools to close for four weeks – Ramaphosa

WASHINGTON (Reuters) &#8211; The International Monetary Fund confirmed on Thursday that South Africa has requested emergency financing assistance and its executive board will consider the request on Monday, which would bring to 72 the number of countries receiving IMF aid to deal with the coronavirus pandemic.



“They’ve requested this assistance to help them address urgent balance of payments needs arising from this external shock that the pandemic has given to so many countries,” IMF spokesman Gerry Rice told a regular news briefing. “As always, our board will make the decision on the approval and on the amount.”

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IMF board to consider South Africa financing aid on Monday-spokesman

JOHANNESBURG (Reuters) &#8211; South Africa’s central bank cut its main lending rate by a further 25 basis points on Thursday, to a new record low of 3.50%, as the COVID-19 pandemic strangles the economy and keeps a lid on inflation.



The decision comes on top of 275 bps of rate cuts earlier this year and was in line with the prediction of 13 of 28 economists in a recent Reuters poll.



“The (monetary policy) committee notes that the economic contraction and slow recovery will keep inflation well below the midpoint of the target range for this year,” Reserve Bank Governor Lesetja Kganyago told a news conference.



“Inflation is expected to be well contained over the medium-term, remaining close to the midpoint in 2021 and 2022.”



The central bank met after data last week showed that consumer inflation fell to 2.1% year on year in May, its lowest in more than 15 years, from 3.0% in April.



That is below the bank’s target range of 3% to 6%.



The central bank now expects gross domestic product to contract 7.3% in 2020, versus an earlier prediction for a 7.0% contraction.



South Africa has recorded the most coronavirus cases in Africa, with total infections just shy of 400,000 and rising by more than 10,000 a day in recent days.

money-coins-currency-business-royalty-free-thumbnail

South Africa cuts rates further as COVID-19 strangles economy

(Reuters) &#8211; Here’s what you need to know about the coronavirus right now:



South Africa’s 59% excess deaths imply hidden COVID-19 toll



South Africa witnessed some 17,000 extra deaths from natural causes, or 59% more than would normally be expected, between early May and mid-July, scientists said, suggesting many more people are dying of COVID-19 than shown in official figures.



New data by the South African Medical Research Council (SAMRC), released overnight, showed that just in the week to July 14 &#8211; the latest figures available &#8211; there was an excess of 5,022 deaths by natural causes, about half more than usual.



Africa’s most industrialised nation is in the middle of a runaway epidemic of the coronavirus, with cases increasing by more than 10,000 a day and the current total just shy of 400,000. But its recorded death toll has so far been low, at 5,940 deaths, or less than 1.5% of cases.



U.S. Senate Republicans, White House cite early progress on coronavirus aid bill



Leading U.S. Senate Republicans and the White House said late on Wednesday they had hammered out agreements in principle on portions of a potential coronavirus-response bill, which could be presented to Democrats as early as this week as lawmakers race to pass legislation by the end of July.



Treasury Secretary Steven Mnuchin told reporters there was an agreement on sending another round of direct-payment checks to Americans to help them get through economic woes created by the worsening pandemic.



Mnuchin, however, would not provide details on the amount of money individuals and families might receive, or qualifications for getting the checks under this Republican-crafted plan.



Siemens to roll out flexible working app for 100,000 staff



Siemens is rolling out its Comfy mobile phone app to hundreds of its offices around the world to help staff safely return to the office after the coronavirus shutdown.



More than 100,000 staff in 30 countries will get access to the app, which gives data on occupancy levels and updates on the local COVID-19 situation so they can comply with physical distancing regulations.



Staff worried about COVID-19 infections among fellow workers can also use a contact-tracing feature on the app created under a partnership with U.S. software developer Salesforce.



COVID-induced khat shortage adds to Somalia’s health woes



In sweltering Mogadishu, Sharif Ahmed, 22, tried to attack relatives and neighbours, resulting in an emergency trip to a psychiatric hospital in handcuffs. He is suffering withdrawal from the narcotic leaf khat.



Somalia shut down flights in late March to curb the spread of the new coronavirus, meaning the drug could no longer be imported by air from Kenya. That affected users, causing some to go for long periods without sleep.



The price of khat surged when the flights were stopped, putting it out of reach for most users and straining resources at Mogadishu’s Habeeb Psychiatric Emergency Hospital.



“Out of the total number of patients we have, half of them are addicted to the drug,” said Abdirashid Abdulahi, a doctor at the hospital, referring to the 40 patients under his care.



Reducing Corporate America’s real-estate footprint



A Reuters analysis of quarterly earnings calls over the past week revealed more than 25 large U.S. companies planned to downsize their office space in the year ahead, moves designed to reduce the second-largest expense after payrolls at corporations.



Reductions in office spending could likely be followed by layoffs and investments in technology that should help improve productivity, said Bill McMahon, chief investment officer of active equity strategies at Charles Schwab.



While companies tend to cut back on their real estate needs during typical recessions, the last four months of economic lockdown have shown many workers can remain productive at home, said Danny Ismail, an analyst at independent research firm Green Street Advisors. As a result, the cutbacks that companies are making are more likely to be permanent, he added.

Clarification on COVID-19 “hotspots” as SA moves to level 3 lockdown

What you need to know about the coronavirus right now

JOHANNESBURG (Reuters) &#8211; Petra Diamonds shares fell on Thursday after it reported selling 23% fewer diamond carats for 36% less revenue in the year to June 30 as the COVID-19 pandemic dealt a fresh blow to a struggling diamond industry.



Petra sold 2.9 million carats in its full-year 2020, down from 3.7 million in the previous year, while revenues dropped to $295.8 million from $463.6 million.



The falls reflect already weaker diamond prices to February this year, which were exacerbated when the pandemic disrupted sales cycles. Petra shares were down 5.8% at 1.55p by 0758 GMT. The stock has fallen 81% this year, Refinitiv data showed.



Petra cancelled May and June tenders because of travel restrictions and low demand from the midstream. It plans to hold its next tender in September.



The African diamond miner is restructuring debt. It said discussions with noteholders and South African lenders continued and it expects to announce progress this quarter.



Production fell 7% year-on-year, partly because Petra’s Williamson mine in Tanzania has been shut since the start of April. It remains suspended due to the impact of low pricing on its liquidity, the company said.



South Africa’s coronavirus lockdown also caused Petra’s mines there to shut for three weeks from March 26.



Petra said it is targeting a ramp-up to pre-COVID-19 production levels, and will give production guidance for 2021 once it reaches a “sustainable level of operational stability”.



Petra’s free cash flow fell to $53.6 million by June 30, from $64.2 million on March 30, while net debt rose to $658 million from $601 million.



As South Africa’s COVID-19 epidemic worsens, Petra said 39 workers have been confirmed coronavirus positive at its South African operations so far, and one worker at the Cullinan mine has died of the respiratory disease.

diamonds-4040800_1280

Petra Diamonds full-year revenues drop 36%, COVID-19 weighs

JOHANNESBURG (Reuters) &#8211; The African Development Bank (AfDB) has approved a roughly 5 billion rand ($300 million) loan to the South African government to help it fight the COVID-19 pandemic and support its budget, the bank said on Wednesday.



Africa’s most industrialised economy was in recession even before COVID-19 started ravaging its economy. Forecasts are now for gross domestic product to shrink by at least 7% this year, and a budget deficit of around 15% of GDP.



The country has recorded the most coronavirus infections in Africa, with more than 380,000 cases.



The AfDB said in a statement that the loan was to protect lives and promote access to essential medical equipment, to protect livelihoods by preserving jobs, and to support companies in the formal and informal economy.



“South Africa’s ability to respond to the pandemic has implications for neighbouring countries as well as the continent as a whole,” the bank said.



South Africa has also approached the International Monetary Fund for financial support in its fight against the coronavirus. The IMF is expected to consider its request next week.



The development bank of the BRICS group of nations approved a $1 billion COVID-19 loan for South Africa earlier this year.



($1 = 16.4914 rand)

AFDB_Logo

African Development Bank approves 5 bln rand loan to South Africa

GENEVA/ZURICH (Reuters) &#8211; Researchers are making “good progress” in developing vaccines against COVID-19, with a handful in late-stage trials, but their first use cannot be expected until early 2021, a World Health Organization (WHO) expert said on Wednesday.



WHO is working to ensure fair vaccine distribution, but in the meantime it is key to suppress the virus’s spread, said Mike Ryan, head of WHO’s emergencies programme, as daily new cases around the globe are at near-record levels.



“We’re making good progress,” Ryan said, noting that several vaccines were now in phase 3 trials and none had failed, so far, in terms of safety or ability to generate an immune response.



“Realistically it is going to be the first part of next year before we start seeing people getting vaccinated,” he told a public event on social media.



WHO was working to expand access to potential vaccines and to help scale-up production capacity, Ryan said.



“And we need to be fair about this, because this is a global good. Vaccines for this pandemic are not for the wealthy, they are not for the poor, they are for everybody,” he said.



The U.S. government will pay $1.95 billion to buy 100 million doses of a COVID-19 vaccine being developed by Pfizer Inc and German biotech BioNTech if it proves safe and effective, the companies said.



Ryan also cautioned schools to be careful about re-opening until community transmission of COVID-19 is under control. Debate in the United States over restarting education has intensified, even as the pandemic flares up in dozens of states.



“We have to do everything possible to bring our children back to school, and the most effective thing we can do is to stop the disease in our community,” he said. “Because if you control the disease in the community, you can open the schools.”

Don’t expect first COVID-19 vaccinations until early 2021 – WHO’s Ryan

JOHANNESBURG (Reuters) &#8211; Thousands of South African restaurant and bar owners placed tables and chairs on the streets outside their premises on Wednesday in a nationwide protest against lockdown restrictions that prevent them from selling alcohol or trading after 9 p.m.



The nation’s hospitality sector is one of the hardest-hit by government restrictions imposed at the end of March to curb the spread of the coronavirus.



At the end of June, restaurants were allowed to offer sit-down services again, but at limited capacity and without serving alcohol.



But that is not enough for Llewy Mateza, owner of The Local Grill in the Parktown North suburb of Johannesburg.



“I’d like the government to reinstate the sale of alcohol, which would then make my business sustainable to a certain extent. Alcohol in my restaurant accounts for 40% of my sales,” Mateza said outside his 150-seater steakhouse that has not re-opened since the end of March.



He has not laid off staff, but about 70% of them have not received any money yet from the government’s Unemployment Insurance Fund (UIF), which has been paying out COVID-19 relief payments to employees who cannot work as a result of the restrictions.



The Department of Employment and Labour has said the delays in payments have been due to a lengthy vetting process and adapting its systems to cope with a ten-fold increase in benefit payments.



Mxolisi Mhlongo, a waiter at The Local Grill, said he was selling fish and vegetables from his garden to fend for his wife and three children.



Waiter Devin Moyo, who works at nearby restaurant Rockets, said he had not been able to afford the smallest things for his family.



“Just to pay the bills has become a problem. The government hasn’t done enough in helping us with the UIF so most of the families are going to bed hungry,” Moyo said, holding a placard reading #JobsSaveLives.



Wendy Alberts, chief executive officer of the Restaurant Association of South Africa, said about 400,000 jobs have been lost in the sector since the end of March, with more businesses closing their doors permanently every day.



A recent survey by Esus-Group found about 67% of restaurants were receiving less than 20% of their usual monthly turnover compared to July last year, while 90% of fine-dining restaurants had stayed shut since the lockdown began.

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South African restaurants plead for end to ‘job-killing’ restrictions

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JOHANNESBURG (Reuters) &#8211; The South African rand weakened early on Wednesday as investors took profits after a rally that took the currency to a one-and-a-half month peak.



The rand was 0.5% weaker at 16.4950 per dollar at 0730 GMT, having reached 16.3600 overnight for its best since June 10 in a broad rally spurred by a landmark European Union economic rescue package.



The EU will pump at least 750 billion euros ($865 billion) into a package aimed at helping the hardest-hit economies. Part of that stimulus is expected to spill into emerging market investments.



But with COVID-19 infections continuing to climb locally and abroad, and keenly watched United States initial jobs claims data due on Thursday after South Africa’s central bank decides on lending rates, investors opted to pocket gains from the recent rally.



The South African Reserve Bank (SARB) concludes its three-day policy meeting on Thursday, with lending rates expected to be cut by 25 basis points.



But with inflation dipping below the bank’s target range of 3-6% for the first time in two decades and fellow emerging market banks continuing to ease policy there is growing probability of a deeper cut, analysts say, keeping big bets at bay.



Bonds prices were also softer in early trade. The yield on benchmark 2030 government paper was up 2.5 basis points at 9.33%.



($1 = 0.8671 euros)

ArcelorMittal South Africa fined R3.64 million over hydrogen sulfide emissions

South African rand softens after rally as investors await data signals

JOHANNESBURG (Reuters) &#8211; Radisson Hotel Group has added six hotels to its African portfolio, the company said on Tuesday, as it pushes ahead with its expansion strategy on the continent despite the COVID-19 pandemic.



Global hotel chains, including Marriot International and Hyatt Hotels have increased investments in Africa, which has some of the world’s only growing economies even after the impact of the pandemic, and a rising middle class.



The addition of the new properties in Mali, Nigeria, Ghana, Ethiopia and two in South Africa means Radisson manages nearly 100 hotels in 32 African markets.



“We aim to further accelerate our presence across the continent through conversions, especially as liquidity remains a critical challenge,” said Ramsay Rankoussi, Radisson’s vice president for development in Africa and Turkey.



“We have revisited our brand architecture to enable us to quickly integrate existing hotels to our network.”



He did not give any figure for the amount invested.



The first of the new hotels will open in Bamako, Mali within the next six months with the last &#8211; a 258-room facility in Nigeria’s capital Abuja &#8211; is expected to launch in 2024.



Grounded airlines and tight travel restrictions meant to curtail the spread of the novel coronavirus that causes COVID-19 have hit the hospitality sector hard.



In Africa, the safari and wildlife tourism sector &#8211; a major draw for international travellers &#8211; has seen widespread job losses.

Frankfurt_Radisson_Blu_Hotel.S.20131124

Radisson adds six hotels in Africa in bet on future growth

HARARE (Reuters) &#8211; Zimbabwe President Emmerson Mnangagwa said on Tuesday his government would impose a night-time curfew and tighten other measures to tackle rising coronavirus infections, adding that anyone who challenged the rules faced severe punishment.



Critics and the opposition said the new steps were linked to anti-government protests planned for next week.



On Monday police arrested an opposition official and a journalist, accusing them of inciting violence ahead of July 31 demonstrations by activists who say government corruption has exacerbated economic hardship.



“As of tomorrow, Wednesday, &#8230; all our security services must enforce a dusk-to-dawn curfew set to come into force daily between 1800 hours and 0600 hours,” Mnangagwa said in a televised address to the nation.



He said anyone who encouraged actions that undermine the government’s measures “will be liable and severely punished accordingly”.



Under the new measures, from Wednesday, those without jobs will be required to stay at home, except to seek food, water and medical help. Business hours will be limited to 8 a.m. to 3 p.m., apart from those performing essential services.



Public gatherings for social, religious or political purposes remain banned.



“These measures are being taken for our collective safety. As Zimbabweans, we have to win the war against the COVID-19 pandemic,” Mnangagwa said.



Zimbabwe has recorded 1,713 coronavirus cases, a relatively small number compared to neighbouring South Africa, but infections have started to rise faster in the last week.



Many citizens in the southern African nation say their economic prospects have worsened since Mnangagwa took over from the late Robert Mugabe following a coup in 2017.



Mnangagwa says the economy is being sabotaged by local and foreign opponents. His government is wary of demonstrations after the last major protests in January 2019 turned violent and scores of people died after a crackdown by security forces.

Emmerson_Mnangagwa_(2019-01-15)

Zimbabwe tightens COVID rules ahead of anti-government protests

One of the unintended consequences of the misery of the COVID-19 pandemic is that it could boost Africa’s chances of attracting foreign investment from the northern hemisphere as central bankers slash interest rates..



This was the word from former British prime minister Tony Blair who spoke to CNBC Africa from London in an exclusive interview.



Blair said African nations should use this pandemic to reform their economies and build infrastructure to ripen them for foreign investors. He said African nations should look for foreign investors in sector where the continent to add value to its resources before export.



The economic woes, brought on by COVID-19, dragging down the wealthy economies of the northern hemisphere, could also benefit African nations.



“There is vast pool of capital in the west because interest rates are very low and they are looking for an outlet. You look at Japan alone, its pension fund has a trillion dollars in it,” says Blair.



“You will get that investment if you build infrastructure and make it the right environment for investors. My advice to African nations is get that investment in , in the value added sectors, &nbsp;to build their capacity, so you are in a position to start exporting your own intellectual capital.”

Tony Blair Gives Pro-Eu Keynote Speech

Tony Blair: How the misery of COVID-19 could mean more investment into Africa.

By Zinathi Gquma



“I am optimistic about Africa for the future”, says former British Prime Minister Tony Blair, on CNBC Africa.



Commenting on Africa’s response to the Covid-19 pandemic, Blair praised the continent on the initial measures that were taken to curb the spread of the virus. According to Blair, “Africa has got some things right, because the deaths in Africa are a third of the number of deaths in the UK.”



Blair’s comments echoed those of the international community, during the first stages of Covid-19 outbreaks in the continent. However, the surge in Covid-19 infections is increasing at alarming rates; with the former British Prime Minister questioning: “Is Covid-19 in Africa ticking up or taking off?”



“Governments are doing their level best, but Covid-19 in Africa could take off if we’re not careful”, Blair cautions.



South Africa, Africa’s most industrialised country, has the fifth largest number of Covid-19 infections in the world; after the US, Brazil, India and Russia. On South African President Cyril Ramaphosa’s response to the Covid-19 outbreak in the country, Blair commended the President’s leadership, saying, “He was following what Europe has seen as best practice”.



He acknowledged that the hard lockdown implemented by Ramaphosa in the initial stages put South Africa in a position to curtail the spread of the disease, while giving the country enough time to build up the capacity of the health system.



The former UK Prime Minister now runs the Tony Blair African Governance Initiative, which aims to make African governments work harder for their people. The non-profit organisation has been instrumental in assisting African countries to implement practical measures in the fight against Covid-19, without destroying their economies.



“This is the biggest challenge I’ve ever seen for governments”, says Blair, who stepped down after a decade of power in 2007.



“I would not like to be taking these decisions in government right now.”



Blair says that this is the time to reset governance and build capable institutions in Africa, so that the continent can rise to its potential. According to the former statesman, “Africa needs to use this Covid-19 crisis to accelerate the process of change.”

“I would not like to be taking these decisions now” -former British prime minister Tony Blair on COVID-19 and Africa.

NAIROBI (Reuters) &#8211; The International Monetary Fund said on Monday it had approved $7.6 million debt relief to Burundi to help address the economic impact of the COVID-19 pandemic. It said the relief for three months would be potentially raised to $24.97 million over the next 21 months, if resources are available. “IMF debt relief will help free up resources for public sector health needs including other emergency spending and help mitigate the balance of payments shock posed by the COVID-19 pandemic,” the IMF said in a statement. The IMF said it has revised downwards economic growth projections for 2020 by 5.3 percentage points to -3.2 percent this year. “The pandemic has exacerbated preexisting economic challenges and creates significant external financing needs in 2020 and 2021, mainly as a result of lower exports, elevated imports needs, and reduced remittances inflows,” it said. Burundi has so far had 328 cases of COVID-19 and one death.

Coronavirus

South Africa may stop lenders blacklisting borrowers during pandemic

South Africa 59% excess deaths imply hidden COVID-19 toll

COVID -19: South Africa public Schools to close for four weeks – Ramaphosa

IMF board to consider South Africa financing aid on Monday-spokesman

South Africa cuts rates further as COVID-19 strangles economy

What you need to know about the coronavirus right now

Petra Diamonds full-year revenues drop 36%, COVID-19 weighs

African Development Bank approves 5 bln rand loan to South Africa

Don’t expect first COVID-19 vaccinations until early 2021 – WHO’s Ryan

South African restaurants plead for end to ‘job-killing’ restrictions

South African restaurants plead for end to ‘job-killing’ restrictions

South African rand softens after rally as investors await data signals

Radisson adds six hotels in Africa in bet on future growth

Zimbabwe tightens COVID rules ahead of anti-government protests

Tony Blair: How the misery of COVID-19 could mean more investment into Africa.

“I would not like to be taking these decisions now” -former British prime minister Tony Blair on COVID-19 and Africa.

IMF approves $7.6 mln debt relief to Burundi to cushion Covid-19 effects

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Coronavirus

South Africa may stop lenders blacklisting borrowers during pandemic

South Africa 59% excess deaths imply hidden COVID-19 toll

COVID -19: South Africa public Schools to close for four weeks – Ramaphosa

IMF board to consider South Africa financing aid on Monday-spokesman

South Africa cuts rates further as COVID-19 strangles economy

What you need to know about the coronavirus right now

Petra Diamonds full-year revenues drop 36%, COVID-19 weighs

African Development Bank approves 5 bln rand loan to South Africa

Don’t expect first COVID-19 vaccinations until early 2021 – WHO’s Ryan

South African restaurants plead for end to ‘job-killing’ restrictions

South African restaurants plead for end to ‘job-killing’ restrictions

South African rand softens after rally as investors await data signals

Radisson adds six hotels in Africa in bet on future growth

Zimbabwe tightens COVID rules ahead of anti-government protests

Tony Blair: How the misery of COVID-19 could mean more investment into Africa.

“I would not like to be taking these decisions now” -former British prime minister Tony Blair on COVID-19 and Africa.

IMF approves $7.6 mln debt relief to Burundi to cushion Covid-19 effects

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