Newsflash: SA Deaths Double

Newsflash: SA Deaths Double
currencies
Source: Bloomberg, *time of writing 06h30, 2020-04-06

Covid19 related deaths in South Africa rose from 5 on Friday morning to 11 as at Sunday night, with an increase of the total number of confirmed cases rising 70 since Saturday.

Billionaire philanthropist Bill Gates said that the coronavirus death toll in the US could be “well short” of the estimates of the top health officials. This only if social distancing is done correctly, including total US shutdown for April. US Vice President Pence said “We are beginning to see the glimmers of progress,” with some day-to-day reductions in New York, the COVID-19 epicentre in the US.

UK Prime Minister Boris Johnson was admitted to hospital for tests following persistent symptoms – he tested positive for the virus ten days ago. Japan, with the third-largest economy in the world, is expected to announce a State of Emergency today as their cases rise to 3,600 and 85 deaths.

So far, 11 JSE listed companies (incl. AECI, Spur Corporation and several property companies) have either postponed or cancelled their recently declared dividends totalling R3.65bn.

The BRICS New Development Bank (NDB) could lend up to $2bn to SA to tackle the virus and restimulate the economy. BRICS member states are entitled to $2bn loans per year, so said Leslie Maasdorp, the South African who is NDB’s vice president and chief financial officer. Finance Minister Mboweni said he might ask the International Monetary Fund and World Bank for assistance if necessary.

coronavirus deaths SA

For more information contact:

Greg Flash
Chief Investment Officer
e. greg@cinnabarim.co.za, c. +27 72 668 8964
FSP Number 45402, w. www.cinnabarim.co.za
Cinnabar Cape Town, 298 Main Road, Kenilworth, 7708

Windall Bekker
Head of Distribution
e. windall@cinnabarim.co.za, c. +27 72 191 0492
FSP Number 45402, w. www.cinnabarim.co.za
Cinnabar Cape Town, 298 Main Road, Kenilworth, 7708