Could the fire that gutted the parliamentary precinct and described by President Cyril Ramaphosa as “a terrible setback” for the nation be a prelude to what lies ahead for South Africa as we face the findings of the Zondo Commission and continue to fight the Covid-pandemic? It is a setback, no doubt, for our country and our democracy, and one that could’ve been averted if it wasn’t for the tragedy of avoidable errors – no security personnel on duty because of an overtime pay issue, the fire sprinkler system not working, the fire alarm going off while the inferno was being fought, a man gaining easy access through a back window to a National Key Point. How vulnerable are we?
National Assembly speaker Nosiviwe Mapisa-Nqakula quickly doused speculation that the fire was an intentional attack on parliament. If it is a case of arson, it is not an attack on parliament, but an attack on everything South Africa has fought for, she said.
The fire casts a shadow over the official opening of parliament on 10 February and the National Budget speech later next month, of which preparations for both these pivotal events are at an advanced stage. We have the assurance that it will go ahead, albeit at an alternative venue. Didn’t take EFF leader Julius Malema long to call for parliament to be moved to Tshwane.
Daily Maverick reports parliament is set for a roller coaster ride in 2022 as the election legislation amendments deadline and the State Capture report loom large.
Here’s hoping for quick answers and even quicker action against the perpetrator(s).
In the markets, the rand was trading at R15.98 this morning in directionless holiday trade in the Far East markets. The sheer number of new Covid infections globally is still weighing on market sentiment and keeping investors on the sidelines. Gold was trading a touch lower at $1,824, platinum is flat at $973, and palladium is marginally stronger at $1,903. Oil is trading higher ahead of the upcoming OPEC+ meeting, with Brent currently quoted at $78.31.
Here’s a roundup of the world’s top and most interesting headlines:
SA Business
Higher minimum wage proposed for South Africa – BusinessTech
A glimmer on the horizon for SA’s economy – Daily Maverick
9 property trends to look out for in 2022 in South Africa, including the most in-demand areas – BusinessTech
Global Business
‘There is no money left’: Covid crisis leaves Sri Lanka on brink of bankruptcy – The Guardian
One country is home to half of the 10 most expensive Michelin-starred restaurants in the world – CNBC
Meet Ashok Elluswamy: First employee to be hired by Elon Musk for Tesla’s Autopilot team – FirstPost
Markets
Asian markets get 2022 off to mixed start in thinned trade – AFP
The top 5 crypto predictions for 2022 – Business Insider
China Evergrande shares halted, set to release ‘inside information’ – Reuters
Opinion/In-depth
What happens when an ecosystem collapse and State Capture collide? – Daily Maverick
Best of 2021: Magnus Heystek on the JSE and why you’ve suffered financial wipe-out – Biznews
Understanding vaccine hesitancy in South Africa – The Conversation
Video
ICYMI | Watch all of News24’s video coverage of the Parliament blaze here – News24
Apple puts Foxconn’s India plant on notice – Reuters
What to Know About Crypto Investments – Coindesk
Feature image: JP Smith, City of Cape Town
