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Ramaphosa Calls for Calm on Omicron, Gordhan Promises Eskom Solution 'Soon'

SOUTH AFRICA

LOCAL NEWS

  • Ramaphosa keeps SA on covid alert level 1 calming fears about the omicron variant, but saying the situation would be monitored.
    • Ramaphosa condemned travel bans ahead of SA's peak tourism season, calling on countries to urgently revise their decisions. Ramaphosa also said a task team had been set up to explore mandatory vaccination.
    • Some flights are set to resume to SA in the coming days, but with the UK's red list still in place this is unlikely to offset any damage to the economy
  • Public Enterprises minister Gordhan says Govt will soon agree on a comprehensive turnaround plan for Eskom.
    • Some options include selling old coal plants and accelerating retirement of others, having the state take over half of its R402bn debt and converting R82bn in bonds held at the state pension into equity. "Eskom will look a lot different by the end of the current administration's term in 2024"
  • SA records 2,858 new covid cases & 6 new deaths with most cases centred in Gauteng - EWN
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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