While South Africa is still coming to grips and recovering from the losses caused by the violent unrests that hit KwaZulu-Natal and Gauteng last month, the country is on high alert to stave off any disruptions following inflammatory messages on social media calling for violence and a national shutdown.
Reasons for the planned shutdown include claims of untested vaccines, #BlackLivesMatter, calls for the “real ANC”, free education and for President Cyril Ramaphosa to step down.
But South Africa is ready – more than 5,500 law enforcement officers and soldiers will be deployed to Gauteng’s streets to protect the key points of the planned protests, which is expected to take place in Johannesburg, Ekurhuleni, Tshwane, Sedibeng and the West Rand.
The July riots following the incarceration of former president Jacob Zuma claimed more than 300 lives and cost the economy an estimated R50bn. So, what – did we just move on as if nothing happened since then?
Whether we’re ready for the next wave of unrest or not, the question that needs to be answered right now, as Justice Malala eloquently puts it, is: “What has happened since July to make any of us believe loss of life, destruction of property and fanning of hate will not happen again or can be stopped – today or next week?”
On the bright side, the youth have come out in droves to receive their Covid-19 jabs, with over half a million registering on the day (Friday) the portal opened for over 18s. And Goldman Sachs, Bank of America and Lazard Asset Management see the lost decade to be over for emerging markets, with South Africa, Russia and Brazil among markets set to benefit from an expected boost in developing equities as investors capitalise on cheap valuations once vaccine rollouts pick up, helping the global economy to recover from the pandemic.
Meanwhile, the rand bounced back from the R15.35-level to the US dollar on Friday to currently trade at R15.21/$ as some “risk-on” sentiment returns to markets on renewed optimism around the Covid vaccine. The currency will be looking to the keynote speech by Federal Reserve Chair Jerome Powell at Jackson Hole this week for further direction.
Here’s a roundup of the world’s top and most interesting headlines:
SA Business
VBS rogues’ gallery: The men who allegedly scored millions – Daily Maverick
Rise and fall of South Africa’s ‘R54 billion’ Bitcoin brothers – MyBroadband
Is it better to buy or build or plot and plan in South Africa? – BusinessTech
Global Business
Top Chinese dealmaker bets on new startups after crackdown – Bloomberg
A $32 million Malibu home seeks zero carbon certification and an eco-warrior buyer – Forbes
T-Mobile suffered a massive data breach. Its response is the 1 thing no company should ever do – Inc.com
Markets
Bitcoin nears the $50,000 level for the first time since mid-May – Bloomberg
Oil up, reverses seven-day losing streak as investor bargain-hunt – Investing.com
Even after $1.5 trillion rout, China tech traders see more pain – Bloomberg
Opinion
China’s technology crackdown and what this means for investors – Daily Maverick
It’s a sham: Study that blocked Caster Semenya from Olympics revoked – Insights from The Wall Street Journal – Biznews
Jab for the Job: Can an employer legally require its employees to be vaccinated? (Part Two) – Daily Maverick
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