Tag: National Lockdown
Zimbabwe began a 21-day nationwide lockdown on Monday, following neighbour South Africa in implementing some of the world’s toughest anti-coronavirus measures likely to hurt an economy already suffering hyperinflation and food shortages.
South Africa’s rand plunged to an all-time low on Monday, falling below 18.00 to a dollar after ratings firm Moody’s cut the country’s last investment grade credit rating, adding to mounting panic about the coronavirus outbreak.
“In recent weeks, the South African Government, business community, philanthropists and society at large have shown remarkable unity in a joint effort to protect our country against the impact of COVID-19,” writes FNB Chief Executive Officer, Jacques Celliers.
Standard Bank has announced a second wave of relief to help its customer base navigate financial commitments as COVID-19 continues to impact the livelihood of many individuals across the country.
Banks will significantly reduce their charges for South African Social Security Agency (SASSA) grant beneficiaries, to increase the number of pay-points they can use to collect their grants, which will help maintain social distancing in queues at bank branches and retailers, for the duration of the Covid-19 pandemic lockdown.
Moody’s will cut South Africa’s sovereign credit rating later on Friday as a recession deepened by the impact of coronavirus frustrates economic reform efforts aimed at reducing government debt, a Reuters poll of economists found.
Cases of COVID-19 in South Africa passed 1,000 on Friday, the health ministry said, while also reporting its first two deaths on the first day of a three-week, nationwide lockdown.
South African President Cyril Ramaphosa has tested negative for coronavirus, the presidency said in a statement on Thursday.