South Africa’s ocean is under attack, and with it lives and livelihoods. Shell’s plans to explore for oil and gas along our pristine Wild Coast poses a huge, long-term threat for both ocean and human life. Not only could it be deadly and cause irreparable harm to the ocean but it could destroy the livelihoods of the rurals along the coast who heavily rely on small-scale commercial farming and the ocean for sustenance. Ironically, on Friday the court found in favour of the oil firm because of the financial costs of a delay. So, again profits are placed above all else.
But South Africans haven’t taken the court dismissal lying down. They took to the streets in their droves locally and abroad to stop Shell’s seismic survey, which involves sending shockwaves through 6,000km² of ocean surface that’s vital to whale breeding. These soundwaves, which is caused by firing up to 48 air guns around the clock from a vessel trawling the east coast, penetrate through 3km of water and 40km below the seabed, reports Daily Maverick.
The government has long touted the need to provide jobs by unlocking our oceans economy through various commercial activities, including gas and oil extraction. There is no doubt that we need jobs, but is massive destruction and feeding the need for more fossil fuels when the world is pressing for a move to renewables the right thing to do?
Then there’s omicron. The Covid variant couldn’t have come at a worse time for jobs. Just as the seasonal hospitality sector thought it could get up from its knees, it was knocked down again and economists are now expecting the trade, accommodation and catering industry to not recover to pre-Covid levels before December 2023.
Better news on omicron is that, although it’s spreading like wildfire, the variant is not driving hospitalisations in the current Covid-19 surge.
In the markets, nervousness around the fast spread of omicron is pushing investors towards the dollar, yen and gold, keeping the pressure on emerging market currencies. This morning the rand is trading at R16.05 against the US dollar.
Here’s a roundup of the world’s top and most interesting headlines:
SA Business
MTN announces Covid-19 vaccine mandate – My Broadband
Whistle-blower says AYO Technology Solutions falsified aspects of its financial results – Daily Maverick
Tourists won’t be back in SA anytime soon – and fears of future travel bans do long-term damage – Business Insider SA
Global Business
Donald Trump says new social media company has raised $1bn – Sky News
Germany plans to make vaccination compulsory for some jobs – Reuters (via Daily Maverick)
Western companies are blind to Ugandan investments – President Museveni – Reuters
Markets
Asia markets down on Omicron, US jobs data worries – AFP
Dollar Up, Buoyed by Omicron Uncertainty – Investing.com
Shock to Crypto Daredevils Joins List of Scary Market Omens – Bloomberg
Opinion/In-depth
Ramaphosa government’s deafening silence on unemployment crisis – Daily Maverick
President Ramaphosa expects update from vaccine mandate task team on Wednesday – Daily Maverick
‘Extreme’ vaccine discrimination risks leaving Africa behind – report – Reuters
Video
Crime in SA | Kidnappings in South Africa – eNCA
David Williams revisits PRASA: Chaos deepens as CEO Kgosie Matthews fired on flimsy grounds – BizNewsTV
Fourth wave: Increased hospital admissions in children – EWN
