South African scientists are testing whether vaccines will be less effective against a COVID-19 variant first detected locally and hope for initial results within two weeks, a professor at the national communicable disease institute said.
Scientists in South Africa said there is a "reasonable concern" that the new variant of COVID-19 sweeping across the country might prove to be more resistant to current vaccines being rolled out in the UK and elsewhere, and warn that it makes the need for a global rollout of vaccines "even more critical".
South African retailers including The Foschini Group Ltd. (TFG) and Woolworths Holdings Ltd. are increasing investment in local clothing manufacturers — both to reduce a dependency on Chinese imports and secure a supply chain thrown into disarray by COVID-19 restrictions, Bloomberg reported.
South African Minister of International Relations Naledi Pandor said her country is “as surprised as its Iranian friends” after learning about the American news website Politico’s report of a “plot” by Tehran to kill the US envoy to the African nation.
South African gold miners are looking to cut debt and boost dividends as bullion hits record highs, with analysts and fund managers predicting a sectoral growth spurt over the next two years amid rising investor interest.
The New Development Bank established by the BRICS group of emerging nations has approved a $1 billion COVID-19 emergency loan to South Africa to help reduce the socio-economic impacts of the pandemic, the National Treasury said.
South African banks face the steepest earnings slump in half a century — with some posting losses — as measures to curb the coronavirus drag the economy deeper into recession and lead to a surge in bad debts.