Experts Say New C.1.2 Variant "Not Yet a Variant of Concern"

LOCAL NEWS

• National Institute for Communicable Diseases says the new C.1.2 variant is "not yet a variant of concern" with a low frequency of 2-3% of infections, but notes this is gradually increasing month by month – which is why they are monitoring the situation closely.
  • Says the lineage was first discovered in May this year, but says the Delta variant continues to be the main source of infections.
  • Says there is no need to consider tighter restrictions yet and that vaccines will still protect against severe disease
• The Department of Social Development's green paper on social security and universal income has been met with a furious backlash from economists, unions, taxpayers and other stakeholders, with over 17,000 comments submitted to the participative democracy platform Dear South Africa – almost all against it.
  • The plans are seen as yet another tax on the middle class. Economists say it is unaffordable; union Solidarity says it's illegal – and most commentators agree it is unlikely to see the light of day
• Eskom considers pumping R106nm investment into wind and solar power – R61.75bn on wind & R44.25bn solar by 2030 funded by development finance institutions.
  • This is the most detailed presentation Eskom has made and shows some intent to move away from Coal in three phases – targeting sites of soon to be decommissioned coal plants (Arnot, Duvha & Lethabo).
  • However, Resource minister Manatashe recently poured cold water on any attempts to move away from coal as a pipe dream in the near-term with many jobs still tied to the sector

Data:

• 1300BST: July trade balance exp at 48.1bn vs 57.7bn prior