While you were asleep: With the easing of restrictions, we’re at the tail end of our lockdown

After weeks of speculation, President Cyril Ramaphosa finally addressed the nation last night and eased some Covid-19 restrictions including the wearing of masks in outdoor areas, which is now a thing of the past.

Ramaphosa said we would be returning as far as possible to the lives we lived before the global pandemic altered our social fabric. The president stopped short of ending the National State of Disaster but did say that government wanted to end it after public comments on it have been concluded.

South Africa also remains on Lockdown Level 1 for now.

Some of the key changes include:

• Changes to gathers with no more than 50% of venue capacity allowed.
  • With proof of vaccine or negative Covid test: no upper limit on numbers.
  • Without proof of vaccine or negative Covid test: upper limit of 1,000 indoors and 2,000 outdoors.
• Masks are to be worn in indoor public spaces but are no longer necessary while outdoors.
• No more than 200 people at funerals.
• One metre of social distancing between persons.

Ramaphosa said with the latest round of changes almost all restrictions on social and economic activity will have now been lifted. But there are a few things you still can’t do under the adjusted restrictions, click here to read them.

There are also changes to international travel. Travellers entering South Africa will need to show proof of vaccination or a negative PCR test not older than 72 hours. All unvaccinated travellers entering the country who want to be vaccinated will be offered a vaccination.

Further easing of restrictions will require an increase of vaccination among South Africans said Ramaphosa and added that the vaccine has shown that it significantly reduced severe illness. Health statistics have also shown that people without the vaccination face a higher risk of being hospitalised or dying from Covid-19.

The president said more than 68% of people older than 60 years have been vaccinated but raised concern over the 18-to-35-year old demographic, where only 35% of the population has been vaccinated thus far.

To read the president’s full address click here.

Opposition parties had a mixed reaction to the news with the likes of the IFP welcoming the easing of restrictions while the DA said the president didn’t go far enough and wanted the restrictions scrapped in their entirety.

Meanwhile, South African Rugby welcomed the news that they would be able to bring fans back into stadiums soon. SA Rugby president Mark Alexander said the industry remains “in ICU” and that there was an enormous battle to make rugby economically sustainable, calling the move to allow 50% capacity “a glimmer of light at the end of the tunnel.”

In the markets, yesterday saw the return of risk appetite despite the ongoing war in Ukraine and a hawkish US federal reserve. The dollar lost some ground while emerging market currencies firmed, and commodity prices are lower.

The rand opened firmer this morning at R14.80/$, “and a break of 14.75/$ will open up a move to the critical 14.50/$ level,” says TreasuryONE.

The local CPI number is due out today, with economists expecting inflation to have increased by 5.8% YoY, while the SARB’s MPC meeting kicks off today.

Gold is trading at $1,921 this morning, unchanged from last night’s softer close, while platinum is 0.35% weaker at $1,019, and palladium is up 2.9% at $2,556. Oil has consolidated just below yesterday’s higher levels, with brent currently at $116 a barrel.