JOHANNESBURG &#8211; South Africa’s rand rose against the dollar on Tuesday, boosted by the promise of unlimited dollar funding from the U.S. Federal Reserve, which helped sentiment globally, even as an impending 21-day lockdown threatened the local economy.



At 0832 GMT, the rand traded at 17.7200 to the dollar, 0.73% stronger than its previous close. Stocks also rose. 



President Cyril Ramaphosa announced on Monday that South Africa would shut down for three weeks from Thursday in a bid to contain the coronavirus, joining a number of economies around the world taking drastic measures not usually seen in peacetime. 



While likely to have huge consequences for an economy that had already tipped into recession in the final quarter of last year, the measures were widely praised as the decisive, harsh action needed to contain the outbreak. 



The rand did not react to this announcement, Peregrine Treasury Solutions said in a note. The currency is usually led by global factors, and markets around the world were on Tuesday benefiting from an uptick in sentiment following the announcement of a package of extraordinary measures from the Fed. 



Peregrine said however that the rand would likely remain on the back foot. 



“The prospects for an already struggling local economy are now even more bleak, as all businesses except for essential services and goods are to be halted,” it said. 



The Johannesburg Stock Exchange’s Top-40 index was up around 4.5%, with the broader all-share index also rising by just shy of 4%. 



Miners were the biggest winners on the blue-chip index, with the likes of Sibanye-Stillwater, BHP Global and Anglo American Platinum enjoying rises of 13%, 10.9% and 9.9% as prices of commodities like oil, platinum and gold rose. 



But consumer-focused firms likely to be affected by the lockdown suffered. 



Bonds also took a tumble, with the yield on the benchmark instrument due in 2030 gaining 91 basis points to 13.215%. 



(Reporting by Emma Rumney; editing by Nick Macfie)



This article was first published on Reuters Africa <a href="https://af.reuters.com/article/investingNews/idAFKBN21B157-OZABS">https://af.reuters.com/article/investingNews/idAFKBN21B157-OZABS</a> and is republished with its permission.

ArcelorMittal South Africa fined R3.64 million over hydrogen sulfide emissions

S.Africa’s rand rises on Fed support even as lockdown looms

JOHANNESBURG (Reuters) &#8211; South Africa’s confirmed number of coronavirus cases rose to 554 on Tuesday from 402 a day earlier, as businesses raced to make plans for a nationwide lockdown from midnight on Thursday.



President Cyril Ramaphosa announced the 21-day lockdown in an address to the nation on Monday, saying Africa’s most advanced economy needed to escalate its response to curb the spread of the outbreak. 



South Africa has the highest number of confirmed coronavirus cases in sub-Saharan Africa, and public health experts are worried that the virus could overwhelm the health system if infection rates rise steeply. 



Health officials are working to expand the country’s coronavirus testing capacity and develop a plan to ensure there are enough intensive care beds with respirators. 



“The numbers, we mustn’t be shocked when we see them increase. But these measures if we all work together must turn the curve around,” Health Minister Zweli Mkhize told a televised news conference, saying South Africa could reach an inflection point in its infection curve two or three weeks after its lockdown restrictions enter into force. 



Two patients are in intensive care, but there have been no deaths from coronavirus in the country, Mkhize said. 



Agriculture Minister Thoko Didiza said the government had taken steps to ensure the lockdown would not affect food security. 



“There is no need to embark on panic-buying, the country has enough food supplies,” Didiza said, adding the government would be monitoring food retailers to ensure sellers do not inflate prices.



Aviation company Comair, a franchise partner of British Airways (BA), said it was suspending all flights it operates for BA and services on the kulula.com low-cost airline from Thursday until April 19. 



Tsogo Sun Gaming said its casinos and bingo sites would be closed by Wednesday. 



A bargaining council for the clothing manufacturing industry said it had reached a collective agreement for guaranteed pay for 80,000 workers for six weeks. 



(Reporting by Alexander Winning, Olivia Kumwenda-Mtambo and Emma Rumney; editing by Barbara Lewis)



This article was first published on Reuters Africa <a href="https://www.reuters.com/article/us-health-coronavirus-safrica-idUSKBN21B17D">https://www.reuters.com/article/us-health-coronavirus-safrica-idUSKBN21B17D</a> and is republished with its permission.

Ramaphosa tests negative for coronavirus as South Africa to begin lockdown

CR-lockdown

South Africa’s coronavirus cases reach 554, country braces for lockdown

FULL ADDRESS: Ramaphosa announces nationwide lockdown from Thursday midnight

The National Coronavirus Command Council has decided to enforce a nation-wide lockdown for 21 days with effect from midnight on Thursday 26 March, ending on April 16th, 2020.



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="556" src="https://www.cnbcafrica.com/wp-content/uploads/2020/03/ET0CTSmXYAE-tSC-1110x556.jpg" alt="" class="wp-image-365191" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/03/ET0CTSmXYAE-tSC-1110x556.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/ET0CTSmXYAE-tSC-300x150.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/ET0CTSmXYAE-tSC-768x385.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/ET0CTSmXYAE-tSC-696x349.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/ET0CTSmXYAE-tSC-1068x535.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/ET0CTSmXYAE-tSC.jpg 1280w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /></figure>



<a href="https://www.cnbcafrica.com/wp-content/uploads/2020/03/200323-NCC-COVID-19-v6.pdf">Full speech from The President</a>



Key Points:



<ul class="wp-block-list"><li>From midnight on Thursday 26 March until midnight on Thursday 16 April, all South Africans will have to stay at home.</li><li>The categories of people who will be exempted from this lockdown are the following: health workers in the public and private sectors, emergency personnel, those in security services – such as the police, traffic officers, military medical personnel, soldiers – and other persons necessary for our response to the pandemic.</li><li>It will also include those involved in the production, distribution and supply of food and basic goods, essential banking services, the maintenance of power, water and telecommunications services, laboratory services, and the provision of medical and hygiene products. A full list of essential personnel will be published.</li><li>Individuals will not be allowed to leave their homes except under strictly controlled circumstances, such as to seek medical care, buy food, medicine and other supplies or collect a social grant.</li><li>Temporary shelters that meet the necessary hygiene standards will be identified for homeless people. Sites are also being identified for quarantine and self-isolation for people who cannot self-isolate at home.</li><li>All shops and businesses will be closed, except for pharmacies, laboratories, banks, essential financial and payment services, including the JSE, supermarkets, petrol stations and health care providers. </li><li>Companies that are essential to the production and transportation of food, basic goods and medical supplies will remain open. </li><li>We will publish a full list of the categories of businesses that should remain open.</li><li>Companies whose operations require continuous processes such as furnaces, underground mine operations will be required to make arrangements for care and maintenance to avoid damage to their continuous operations.</li><li>Firms that are able to continue their operations remotely should do so.</li></ul>



<ul class="wp-block-list"><li>Provision will be made for essential transport services to continue, including transport for essential staff and for patients who need to be managed elsewhere.</li></ul>



Public health management program 



This nationwide lockdown will be accompanied by a public health management program that will significantly increase screening, testing, contact tracing, and medical management.



Community health teams will
focus on expanding screening and testing where people live, focusing first on
high density and high-risk areas.



To ensure that hospitals are not overwhelmed, a system will be put in place for ‘centralized patient management’ for severe cases and ‘decentralized primary care’ for mild cases.



Emergency water supplies – using water storage tanks, water tankers, boreholes, and communal standpipes – are being provided to informal settlements and rural areas.



A number of additional
measures will be implemented with immediate effect to strengthen prevention
measures. Some of those measures are that:



<ul class="wp-block-list"><li>South African citizens and residents arriving from high-risk countries will automatically be placed under quarantine for 14 days.</li><li>Non-South Africans arriving on flights from high-risk countries we prohibited a week ago will be turned back.</li><li>International flights to Lanseria Airport will be temporarily suspended.</li><li> International travelers who arrived in South Africa after 9 March 2020 from high-risk countries will be confined to their hotels until they have completed a 14-day period of quarantine. </li></ul>



Economic Interventions



<ul class="wp-block-list"><li>Following consultation with social partners, we have set up a Solidarity Fund, which South African businesses, organisations and individuals, and members of the international community, can contribute to. </li><li>The Fund will focus efforts to combat the spread of the virus, help us to track the spread, care for those who are ill and support those whose lives are disrupted. </li><li>The Fund will complement what we are doing in the public sector. </li><li>I am pleased to announce that this Fund will be chaired by Ms Gloria Serobe and the deputy Chairperson is Mr Adrian Enthoven. </li><li>The Fund has a website – www.solidarityfund.co.za – and you can begin to deposit monies into the account tonight. </li><li>The Fund will be administered by a reputable team of people, drawn from financial institutions, accounting firms and government. </li></ul>



To get things moving, Government is providing seed capital of R150 million and the private sector has already pledged to support this fund with financial contributions in the coming period.   



Government has had discussions with manufacturers and distributors of basic necessities, who have indicated that there will be a continuous supply of these goods. There is therefore no need for stockpiling of any items. 



<ul class="wp-block-list"><li>A
safety net is being developed to support persons in the informal sector, where
most businesses will suffer as a result of this shutdown. More details will be
announced as soon as we have completed the work of assistance measures that
will be put in place.</li></ul>



<ul class="wp-block-list"><li>To alleviate congestion at payment
points, old age pensions and disability grants will be available for collection
from 30 and 31 March 2020, while other categories of grants will be available
for collection from 01 April 2020.</li></ul>



All channels for access will remain open, including ATMs,
retail point of sale devices, Post Offices and cash pay points.



Support people whose livelihoods will be affected:



<ul class="wp-block-list"><li>We
are in consultation on a proposal for a special dispensation for companies that
are in distress because of COVID-19. Through this proposal employees will
receive wage payment through the Temporary Employee Relief Scheme, which will
enable companies to pay employees directly during this period and avoid
retrenchment.</li></ul>



<ul class="wp-block-list"><li>Any
employee who falls ill through exposure at their workplace will be paid through
the Compensation Fund.</li></ul>



<ul class="wp-block-list"><li>Commercial
banks have been exempted from provisions of the Competition Act to enable them
to develop common approaches to debt relief and other necessary measures.</li></ul>



Many large companies that are currently closed have accepted their responsibility to pay workers affected. We call on larger businesses in particular to take care of their workers during this period.



<ul class="wp-block-list"><li>In
the event that it becomes necessary, we will utilise the reserves within the
UIF system to extend support to those workers in SMEs and other vulnerable
firms who are faced with loss of income and whose companies are unable to
provide support. Details of these will be made available within the next few
days.</li></ul>



Assistance for businesses that may be in distress



<ul class="wp-block-list"><li>Using
the tax system, we will provide a tax subsidy of up to R500 per month for the
next four months for those private sector employees earning below R6,500 under
the Employment Tax Incentive. This will help over 4 million workers. </li></ul>



<ul class="wp-block-list"><li>The
South African Revenue Service will also work towards accelerating the payment
of employment tax incentive reimbursements from twice a year to monthly to get
cash into the hands of compliant employers as soon as possible.</li></ul>



<ul class="wp-block-list"><li>Tax
compliant businesses with a turnover of less than R50 million will be allowed
to delay 20% of their pay-as-you-earn liabilities over the next four months and
a portion of their provisional corporate income tax payments without penalties
or interest over the next six months. This intervention is expected to assist
over 75 000 small and medium-term enterprises.</li></ul>



<ul class="wp-block-list"><li>We
are exploring the temporary reduction of employer and employee contributions to
the Unemployment Insurance Fund and employer contributions to the Skill
Development Fund. </li></ul>



<ul class="wp-block-list"><li>The
Department of Small Business Development has made over R500 million available
immediately to assist small and medium enterprises that are in distress through
a simplified application process. </li></ul>



<ul class="wp-block-list"><li>The
Industrial Development Corporation has put a package together with the
Department of Trade, Industry and Competition of more than R3 billion for
industrial funding to address the situation of vulnerable firms and to
fast-track financing for companies critical to our efforts to fight the virus
and its economic impact.</li></ul>



<ul class="wp-block-list"><li>The
Department of Tourism has made an additional R200 million available to assist
SMEs in the tourism and hospitality sector who are under particular stress due
to the new travel restrictions.</li></ul>

Breaking: Nationwide lockdown announced in South Africa

KINSHASA (Reuters) &#8211; Congo has imposed a two-day lockdown in one copper- and cobalt-producing province and shut down public markets in another after two people tested positive for the coronavirus on a flight to the capital of one of the provinces.



The governor of Haut-Katanga province, Jacques Kyabula, issued the lockdown order late on Sunday and said the boundaries of the southeastern province would also be closed. Ivanhoe, MMG Ltd and Chemaf are among the mining companies with concessions in Haut-Katanga. 



Ivanhoe and MMG did not immediately respond to requests for comment. Sandeep Mishra, a general manager at Chemaf, confirmed its mines were suspending operations for two days to ensure the safety of employees. 



The governor of neighbouring Lualaba province, home to mines owned by Glencore and China Molybdenum, ordered all public markets to close on Monday except those selling food and medicine. 



The order by Lualaba Governor Richard Muyej does not appear to apply to mining activities. A Glencore spokesman declined to comment. China Molybdenum did not immediately respond to a request for comment. 



Together, Haut-Katanga and Lualaba account for nearly all of Democratic Republic of Congo’s output of cobalt, a component in electric car batteries. Congo produces about 60% of the world’s cobalt. 



Indigo Ellis, Head of Africa Research at global risk consultancy Verisk Maplecroft, said she expected the lockdown to weigh heavily on copper output. 



“The greatest risk to copper output from DR Congo is the potential for smelter or logistics-related bottlenecks, preventing mines from shipping concentrates,” Ellis said. 



Authorities are now trying to locate passengers who were on the flight on Sunday from the national capital Kinshasa to Lubumbashi, the capital of Haut-Katanga, on which two passengers tested positive for the coronavirus. 



In a video posted on Twitter, Governor Kyabula asked them to stay at home and contact the medical services. 



Only the military, police, medical staff and authorised civil servants will be allowed to travel around the province, he said. Otherwise, transport from trucks to bicycles and barges has been halted. 



“No activity will be tolerated in Haut-Katanga during this 48-hour period,” Kyabula said. 



The two cases from the flight took the number of confirmed coronavirus cases in Congo to 30, including two deaths. 



About 1,400 cases of coronavirus have now been reported across Africa, according to the World Health Organization. 



There are concerns that the continent will not be able to handle a surge in cases without the depth of medical facilities available in more developed economies. 



(Additional reporting by Helen Reid; additional reporting and writing by Aaron Ross; Editing by Mark Heinrich and Timothy Heritage)



This article was first published on Reuters Africa <a href="https://af.reuters.com/article/topNews/idAFKBN21A2FO-OZATP">https://af.reuters.com/article/topNews/idAFKBN21A2FO-OZATP</a> and is republished with its permission.

Congo imposes 48-hour lockdown on mining province over coronavirus

JOHANNESBURG (Reuters) &#8211; South Africa’s Health Minister Zweli Mkhize said on Monday that the number of confirmed coronavirus cases had risen to 402, a jump of 128 since Sunday’s announcement that could worry public health experts concerned about the country’s readiness to deal with the epidemic. 



President Cyril Ramaphosa has declared a national state of disaster and imposed measures like travel bans to curb the spread of coronavirus. He is expected to address the nation later on Monday on new measures to mitigate the impact of the virus. 



(Reporting by Tanisha Heiberg; Editing by Alexander Winning)



This article was first published on Reuters Africa <a href="https://af.reuters.com/article/topNews/idAFKBN21A1U4-OZATP">https://af.reuters.com/article/topNews/idAFKBN21A1U4-OZATP</a> and is republished with its permission.

Clarification on COVID-19 “hotspots” as SA moves to level 3 lockdown

South Africa’s confirmed coronavirus cases jump by 128 to 402

JOHANNESBURG (Reuters) &#8211; South African financial services group Alexander Forbes said on Monday a deal to purchase 200.8 million of its own shares from shareholder Mercer Africa for just over 1 billion rand ($56.36 million) was cancelled due to the impact of coronavirus on markets. 



Investment company African Rainbow Capital (ARC) will still acquire 193 million Alexander Forbes shares from Mercer for a similar price, increasing its shareholding to 33.9%, as planned. 



($1 = 17.7426 rand) 



(Reporting by Emma Rumney; Editing by Kim Coghill)



This article was first published on Reuters Africa <a href="https://af.reuters.com/article/investingNews/idAFKBN21A0NW-OZABS">https://af.reuters.com/article/investingNews/idAFKBN21A0NW-OZABS</a> and is republished with its permission.

Alexander Forbes cancels $56 mln plan to buy out shareholder

Sol Kerzner| 1935–2020 Statement from the Kerzner family: Solomon (Sol) Kerzner, one of the world’s most innovative hoteliers, founder of the Southern Sun hotel group, Sun International and Kerzner International, has died of cancer surrounded by his family at the Kerzner family home, Leeukoppie Estate, in Cape Town, South Africa. Always a maverick, Kerzner was a titan of the hotel and resort industry who redefined the scale and scope of integrated destination resorts worldwide. He was 84.



The son of Russian immigrants, Kerzner was born in
Johannesburg, South Africa, in 1935. The youngest of four and the only son, Sol
was a working class boy from a rough neighbourhood but he would grow up to
become one of the most influential entrepreneurs in South Africa. Having
founded the country’s two largest hotel groups — Southern Sun and Sun
International — Kerzner would go on to achieve international prominence with
groundbreaking resorts that helped transform the tourism industries not only of
his home country but of Mauritius, The Maldives, The Bahamas, Dubai and other
important international destinations.



The complexity and sheer determination of the man is
only hinted at by the fact that at the age of 12 Sol played with the
Johannesburg Symphony Orchestra while, in the same year, he took up boxing –
initially for reasons of self-defense in the tough Bez Valley suburb where he
grew up and, later, as a serious sport. Almost needless to say, by the time he
graduated from the University of the Witwatersrand with a degree in
accountancy, Kerzner was varsity welterweight champion.



For someone who lived much of his life in the public
eye, Kerzner was a surprisingly private person and although many of his former
colleagues and partners will attest to&nbsp;this remarkable man’s fighting
spirit and grit, few knew that Sol also had a softer side.&nbsp;



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="794" height="1024" src="https://www.cnbcafrica.com/wp-content/uploads/2020/03/Nelson-Mandela-Sol-Kerzner-OneOnly-Cape-Town-launch-794x1024.jpg" alt="" class="wp-image-364795" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/03/Nelson-Mandela-Sol-Kerzner-OneOnly-Cape-Town-launch-794x1024.jpg 794w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/Nelson-Mandela-Sol-Kerzner-OneOnly-Cape-Town-launch-233x300.jpg 233w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/Nelson-Mandela-Sol-Kerzner-OneOnly-Cape-Town-launch-768x991.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/Nelson-Mandela-Sol-Kerzner-OneOnly-Cape-Town-launch-1191x1536.jpg 1191w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/Nelson-Mandela-Sol-Kerzner-OneOnly-Cape-Town-launch-1587x2048.jpg 1587w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/Nelson-Mandela-Sol-Kerzner-OneOnly-Cape-Town-launch-696x898.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/Nelson-Mandela-Sol-Kerzner-OneOnly-Cape-Town-launch-1068x1378.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/Nelson-Mandela-Sol-Kerzner-OneOnly-Cape-Town-launch-1920x2477.jpg 1920w, https://cms.cnbcafrica.com/wp-content/uploads/2020/03/Nelson-Mandela-Sol-Kerzner-OneOnly-Cape-Town-launch-scaled.jpg 1984w" sizes="auto, (max-width: 794px) 100vw, 794px" /><figcaption>Nelson Mandela and Sol Kerzner share a special moment</figcaption></figure>



Kerzner’s career in hospitality began in 1962 when he decided to leave the accounting profession and purchased The Astra, a small inn in Durban, South Africa. Kerzner quickly transformed this rundown establishment into one of the most popular hotels in the area, a success that whetted Sol’s insatiable appetite for innovation and demonstrated a trademark ingenuity that would define his 60-year career.



Aged just 26, Kerzner became convinced that there was
in South Africa an opportunity for a hospitality offering far ahead of anything
that was available then in the country. At a time when no one thought it could
be done, Kerzner’s breakthrough project was The Beverly Hills, Umhlanga Rocks,
the first five-star hotel in all of South Africa. Built on a deserted stretch
of coastline North of Durban, once again Kerzner defied the odds and the hotel
became a great success and earned Sol a reputation as South Africa’s pre-eminent
hotelier. Kerzner went on to build the 450-room Elangeni Hotel on the Durban
beachfront and then partnered with South African Breweries to establish
Southern Sun Hotels, which by 1983 operated 30 luxury hotels encompassing more
than 7,000 keys.



Kerzner’s most monumental and controversial
achievement was the creation of Sun City.&nbsp; Here, in an area north of
Johannesburg where there were no roads and no infrastructure, Sol imagined and
delivered the most ambitious resort project in all of Africa. Commencing work
in 1975, over the next ten years, Kerzner built four hotels, a man-made lake,
two Gary Player golf courses, and an entertainment center with an indoor
6,000-seat arena, which played host to a world-class roster of artists
including Queen, Frank Sinatra, Liza Minelli, Shirley Bassey, as well as huge
world title fights, and many other spectacular events. Once again, Kerzner
defied the naysayers to train a best of breed workforce and to operate Sun City
on a totally non-racial basis. Even the most cynical of visiting overseas
journalists had to concede defeat in trying to find racism behind the operation
of the vast resort.



From his earliest hotels, Sol Kerzner was guided by a single driving imperative: to ‘Blow away the customer’. When scouting for locations around Durban, or later in Mauritius or The Bahamas, if Sol was not ‘blown away’ by the location, he would move on and find another stretch of beach to build the hotel and resort. ‘Second-best’ or ‘Good Enough’ was never an option for Kerzner, or for the thousands of people who worked for him from Bophuthatswana to Dubai and this rare blend of creativity and acute business acumen earned Sol a reputation and celebrity status throughout South Africa.



In 1994, following the first democratic elections in South Africa, Kerzner was asked by the newly-elected President Nelson Mandela to arrange the VIP function for the Presidential inauguration, which was attended by most of the world’s leaders and Heads of State. It was a special occasion and one that cemented Kerzner’s close relationship with the iconic world statesman who said of Sol: “He makes a difference everywhere he goes.  Sol, thank you for changing our World!” Theirs was a genuine friendship that would endure until Mandela’s own passing in 2013.



In 1994, Kerzner made his first major acquisition
outside Africa — The Paradise Island Resort in The Bahamas. Here, he launched a
major re-development and expansion project and transformed this bankrupt
property into the extravagant Atlantis Resort, a revolutionary 2,300-room
resort that included one of the world’s largest man-made marine habitats and
the Caribbean’s biggest casino. Atlantis, with its coherent theme, story and
mythical legend held massive appeal to visitors of all ages. Later expansions
at Atlantis of The Cove and The Reef hotels added a further 1,100 rooms.



By this time, Sol was working closely with his son,
Butch, whom he had persuaded to move from a promising career in corporate
finance to join him at the company, which had then been rebranded as Kerzner
International. Sol and Butch’s ascent as internationally acclaimed hoteliers
continued and in 1996 the father and son duo built their first casino resort
property in the United States — The Mohegan Sun — a property that is still
today one of the largest gaming and entertainment complexes in North America.



Reflecting on Kerzner’s international accomplishment,
Ian Douglas, a&nbsp;friend and
employee at Kerzner’s various companies for 20 years commented:&nbsp;“Sol was someone who possessed a
rare combination of creative genius, uncanny financial acuity and an
astonishing energy, which he poured into every business he touched. Nothing he
built was ever boring and he never chased the money. He only chased success. He
was always trailblazing, always in pursuit of bigger, better, new, different,
more exacting and exciting projects around the globe.”



Sol and Butch went on to launch One&amp;Only Resorts, which established award-winning luxury properties in The Bahamas, Mexico, Mauritius, The Maldives, South Africa and Dubai. True to Kerzner’s nature as an innovator and perfectionist, each One&amp;Only property was not only unique in its design and ambience, the brand set a new standard in the casual luxury resort space by offering the finest guest experience across every possible touchpoint.



In 2006, Butch Kerzner, who had recently assumed the
role of CEO of Kerzner International, was tragically killed in a helicopter
accident while scouting for sites in the Dominican Republic.&nbsp; Sol, who was
by then Executive Chairman of Kerzner International, decided to return to the
role of CEO, to continue the work of the company and to complete what he and
Butch had been working on.



Jeff Rubenstein, a lifelong friend, remembers those
difficult days well:&nbsp;“Sol believed that no matter where you come from, if
you put in the hours, you would succeed. He never used his circumstances or the
tragedies he experienced in his life as an excuse for failure.&nbsp; If tragedy
was a burden to Sol, hard work was the antidote and he himself always said,
‘you just gotta box on’”.



Kerzner proceeded to extend the Atlantis brand
globally with the development of Atlantis, The Palm in Dubai. This $1.5
billion, 1,500-room destination resort featured the largest aquarium and
waterpark in the Middle East, luxury retail outlets, and restaurants featuring
internationally renowned celebrity chefs.&nbsp; Opening in late 2008 with the
world’s largest ever fireworks display, the astonishing opening party achieved
international media acclaim and attracted celebrities and visitors from all
over the planet.



In 2009, Kerzner returned to Africa to develop the
500-room Mazagan Beach Resort in Morocco and also opened the One&amp;Only Cape
Town, situated in the famous V&amp;A Waterfront. Around the time of the launch
of the One&amp;Only Cape Town, Kerzner said, “I went back to the Beverly Hills
recently and I was so pleased to see there were still six people there who’d
been with me in 1964. It’s still a very good hotel. I think that one has to
accept that over time we will experience good times, and times that aren’t so
good. But if I look back and wonder what I would have changed and done
different, there’s not too much. I think I’ve been fortunate to have a very
broad experience of life in many ways. So, for me it’s been an interesting
journey. I have had tough times and good times and through it all I have been
determined to get it done. I can’t imagine doing anything else, it’s been a
blast. Every day that I spent in business was a joy!”



In December 2010, Kerzner’s passion for hospitality
was recognized in the Queen’s Birthday Honors list, with the award of the
insignia Knight Commander of the Most Distinguished Order of St. Michael and
St. George (KCMG). Sol never used the title and was always surprised and amused
when people addressed him as ‘Sir Sol’.



In 2012, the One&amp;Only Group announced projects in
China, Australia, and Montenegro, and the following year saw the unveiling of
plans for the third Atlantis Resort on China’s Hainan Island. Proposals to
expand Atlantis, Dubai with 800 additional rooms and over 230 luxury
residential apartments in the Royal Atlantis development were also announced,
with Sol leading the planning and design of these new projects for Kerzner
International.



In 2014, Kerzner finally decided to exit Kerzner International and retired as Chairman of the company.



<figure class="wp-block-embed-wordpress wp-block-embed is-type-wp-embed is-provider-cnbc-africa"><div class="wp-block-embed__wrapper">
https://www.cnbcafrica.com/videos/2018/11/30/sol-kerzner-receives-lifetime-achievement-award-at-the-2018-aablas/
</div></figure>



Kerzner’s impact on the international resort industry
cannot be understated. From his modest start in life, Sol’s career spanned six
decades, establishing well over 80 hotel and casino properties, in more than a
dozen countries. Kerzner’s determination, perseverance, and monumental
ingenuity have truly transformed the integrated destination resort space, and
his impact on the industry can be seen and felt all over the world.



In spite of his international celebrity status and the demands of maintaining a massive business reputation, Sol always remained an intensely family-oriented person. Andrea, his daughter reflects: “Dad taught us family values — no matter how busy he was, he always made time for us, his family.  He would take a call from any one of us in the middle of an important meeting or fly half-way across the world to get to a grandchild’s birthday party. For Dad, his family were everything, his joy.”



Sol is survived by his children Andrea, Beverley,
Brandon and Chantal and ten grandchildren. His eldest son, Howard ‘Butch’
Kerzner died in 2006.



Sol Kerzner will be buried at a small, private funeral
with only immediate family in attendance.

Sol Kerzner

The sun has set on Sol Kerzner, the Sun king

By François Conradie &#8211; Senior Political Economist



President Peter Mutharika is using his office to thwart the
decision by the Constitutional Court to annul the results of the May 2019
election in which he was re-elected, and to direct government to hold a fresh
election. 



After Parliament approved some changes to electoral legislation in
line with the Court’s directive that presidential elections should henceforth
be won by absolute majority rather than relative majority, Mr Mutharika used
his veto power on Tuesday, March 17, and refused to ratify Parliament’s
changes. 



A spokesperson for the presidency said that, in the president’s
opinion, the proposed changes are unconstitutional. 



Mr Mutharika’s appeal against the original Constitutional Court
ruling is still pending; the ruling in the appeal case is expected in April.



This is the most dramatic move to block the implementation of the
Constitutional Court ruling, and it comes in conjunction with a few other moves
by the head of state that are of a nature to cause concern. 



Also on Tuesday, Mr Mutharika fired the chief commander of the
Malawi Defence Force, General Vincent Nundwe, and replaced him with former air
force commander Major General Andrew Lapken Namathanga. 



General Nundwe had been appointed in June and was widely popular
for his men’s handling of protests over last year’s election: on several
occasions, soldiers came between protesters and police officers whose
repression of marches was turning violent, so the army was praised for being on
the side of the people. 



General Nundwe will be “assigned to other duties in the public
service”, in the words of the statement from the presidency. 



The deputy commander of the defence force was also replaced and a
number of senior officers received promotions. 



An unnamed senior officer who spoke to AFP said that Mr
Mutharika’s intention with the move is to “put people who work for his interests
and from his home area” in positions to advance his personal and political
interests. 



Mr Mutharika has already given the army the order to use force
against protesters participating in a planned march to State House on
Wednesday, March 25.



On Friday, March 13, Mr Mutharika dissolved his Cabinet. 



The move came a few weeks after his Democratic Progressive Party
(DPP) formed an alliance with the United Democratic Front (UDF), in order to
bolster the challenge from the two most important opposition parties, the
Malawi Congress Party (MCP) and the United Transformation Movement (UTM). 



He has made explicit his intention to make the Cabinet bigger:
since 2014, the year of his first election, he has stuck to a promise he made
in the campaign ahead of that poll to limit the size of Cabinet to 20
ministers. 



Sympathetic commentators say that the relatively more robust
health of the economy means he can now name a team of up to 30. His intention
is probably to give more portfolios to the UDF to bolster his alliance. 



On Tuesday, his spokesperson said he had decided on a new team and
would announce it “soon”. In the interim, all ministerial powers vest in the
president.



A rough few weeks lie ahead. It seems as though Mr Mutharika’s
plan is to delay the new election for as long as possible, but he does seem to
have accepted that it will go ahead, hence his focus on the new Cabinet and the
alliance with the UDF. 



As the new campaign starts, we will expect protests and for the
overhauled army to be as forceful as the police in dealing with them. The
voting itself will not be less suspect than that of last May, and if he wins,
his legitimacy will be in question. 



We had been hopeful about the outcome of the Constitutional Court ruling, but the president’s intransigence is reason to fear an increase in risk.

Op-Ed: Malawi – Intransigent Mutharika raises the temperature

JOHANNESBURG (Reuters) &#8211; South Africa’s MTN has agreed to reduce the cost of its monthly data bundles of 1 gigabyte (GB) and below by between 25% and 50% from April, following a finding that the country’s mobile data prices were the highest on the continent, the telecoms firm said on Friday. 



The price of its 1GB monthly data bundle will fall by 33% to 99 rand from 149 rand, it said in a statement. 



<figure class="wp-block-embed-wordpress wp-block-embed is-type-wp-embed is-provider-cnbc-africa"><div class="wp-block-embed__wrapper">
https://www.cnbcafrica.com/videos/2020/03/20/how-mtn-plans-to-cushion-its-customers-from-covid-19/
</div></figure>



(Reporting by Tanisha Heiberg; editing by Jason Neely)



This article was first published on Reuters Africa <a href="https://af.reuters.com/article/investingNews/idAFKBN217151-OZABS">https://af.reuters.com/article/investingNews/idAFKBN217151-OZABS</a> and is republished with its permission.

MTN drops prices on monthly data bundles

JOHANNESBURG (Reuters) &#8211; South Africa’s Health Minister Zweli Mkhize said on Friday that the number of confirmed coronavirus cases had risen by 52 to 202, with the first cases recorded in the Free State province. 



The virus has multiplied in Africa more slowly than in Asia or Europe, but the number of cases has started to rise more rapidly in South Africa in recent days. Africa’s most industrialised economy has the most cases in sub-Saharan Africa. [nL8N2BC6GN] 



(Reporting by Tanisha Heiberg; Editing by Alexander Winning)



This article was first published on Reuters Africa <a href="https://af.reuters.com/article/topNews/idAFKBN2171D5-OZATP">https://af.reuters.com/article/topNews/idAFKBN2171D5-OZATP</a> and is republished with its permission.

COVID-19 cases rise to 202 in South Africa

JOHANNESBURG, March 19 (Reuters) &#8211; South African authorities announced on Thursday they would erect a fence along its border with Zimbabwe to prevent illegal immigrants from entering and spreading the coronavirus. 



President Ramaphosa has already ordered 35 out of 53 land entry points closed. 



“This measure will &#8230; not be effective if the fences at the border are not secure, which in many places, they are not,” Public Works Minister Patricia de Lille said in a statement. 



The planned fence is to be erected on either side of the Beitbridge Land Port of Entry, in order to “ensure that no undocumented or infected persons cross into the country.” 



“All 40 kilometres (25 miles) of fence will be finished within one month. Local labour will be sourced by the contractor,” she added.



South Africa has long sought to reduce illegal immigration from Zimbabwe, which it sees as a threat to local jobs in a country with unemployment of around 30 percent. 



Countries around the world have been cancelling flights, banning travel from certain countries and tightening controls at borders in order to prevent the virus’s spread. 



Ministers announced other measures aimed at containing the spread of the coronavirus while limiting the impact of its side effects such as panic buying in supermarkets.



(Reporting by Tim Cocks; editing by David Evans)



This article was first published on Reuters Africa <a href="https://www.reuters.com/article/health-coronavirus-safrica-zimbabwe-idUSL8N2BC6PD">https://www.reuters.com/article/health-coronavirus-safrica-zimbabwe-idUSL8N2BC6PD</a> and is republished with its permission.

S.Africa to erect 40km fence on Zimbabwe border as coronavirus measure

JOHANNESBURG (Reuters) &#8211; South Africa’s biggest supermarket Shoprite will limit purchases of some food products and medicines, it said on Thursday, as frantic shoppers stripped shelves to prepare for possible isolation during the coronavirus outbreak. 



As the spread of the infection triggers panic buying across the world, South African retailers are saying they are working with their suppliers to ensure a consistent supply of products like meat and canned food, and medicine. 



Countries across Africa reporting their first coronavirus cases have seen a rush on shops, with customers piling trolleys with wipes, sanitizer, and staples like rice and long-life milk. 



To ensure more people have access to everyday essentials, Shoprite said it is now rationing the sale of toilet paper, tissues, wipes, liquid soap, hand sanitizer as well as some tinned foods, cereals, antiseptic disinfectant liquids, medicines and vitamins. 



On Wednesday, Woolworths said it is introducing a limit of only three items per product and per customer on every grocery line, while Massmart’s Makro has also restricted purchases of essential items like rice, frozen chicken and toilet paper. 



“Unfortunately many consumers have not yet heeded to the call to refrain from stockpiling, therefore rationing the sale of certain products has become necessary,” Shoprite said in a statement. 



Shoprite said it has also allocated special till points for pensioners and vulnerable people including those with disabilities at its Shoprite and Checkers supermarkets. 



“The group appeals to senior citizens to shop outside of peak travel times and when stores are quieter to minimise exposure,” it said. 



(Reporting by Nqobile Dludla, Editing by William Maclean)



This article was first published on Reuters Africa <a href="https://af.reuters.com/article/topNews/idAFKBN21629V-OZATP">https://af.reuters.com/article/topNews/idAFKBN21629V-OZATP</a> and is republished with its permission.

Panic buying forces South African supermarkets to ration food

In conversation with anti-apartheid fighter & ex-police chief Robert McBride

PRETORIA, March 19 (Reuters) &#8211; The South African Reserve Bank (SARB) cut its main lending rate by 100 basis points to 5.25% on Thursday in a unanimous decision, citing a dire local and global economic outlook due to the deepening impact of the coronavirus pandemic.



The cut, which helped drag the rand from levels near its lowest ever, was twice as large as the half-percentage-point predicted by a Reuters poll last week. Only one of the 22 analysts polled had forecast the aggressive 100 bps move.



The SARB has not cut in increments larger than 25 bps since 2012.



“The technical recession of the latter half of 2019 contributed to the lower economic growth forecast,” SARB Governor Lesetja Kganyago told a news conference in the capital Pretoria. 



“Additionally, COVID-19 and existing constraints such as load-shedding (by power utility Eskom) imply significant downside risk to the growth outlook,” Kganyago said.



Africa’s most developed economy slipped into its second recession in two years in 2019 as agriculture, transport and construction activity contracted, with an unreliable power supply the main impediment to growth.



This article was first published on Reuters Africa <a href="https://in.reuters.com/article/safrica-economy-rates-idUSL8N2BC69K">https://in.reuters.com/article/safrica-economy-rates-idUSL8N2BC69K</a> and is republished with its permission.

SARB delivers 100 bps rate cut to fight coronavirus fallout

By Cooper Inveen



FREETOWN (Reuters) &#8211; Shoppers threaded their way between stalls hawking everything from watches to pigs’ feet in Sierra Leone’s capital on Wednesday, two days after the government banned large gatherings to combat the coronavirus but exempted markets such as this.



Buyers and sellers at the Abacha market say they can’t afford to stay away anyway. They depend on it for their daily food and wages. 



A growing number of African countries are announcing increasingly restrictive measures to try to halt the spread of the virus, which has infected more than 200,000 people globally and killed nearly 9,000. They have shut borders, closed schools and universities and barred large public gatherings. 



On Wednesday, Uganda banned religious gatherings and weddings, despite not having a single coronavirus case. South Africa strongly encouraged restaurants and bars to provide take-out services only. 



Sierra Leone, despite not having a reported infection, banned gatherings of more than 100 people on Monday. Markets that draw thousands of people were exempt. 



“We don’t have this virus here yet, so why should we stop?” said Abacha soap vendor Adama Jalloh, as a baby dozed against the back of her traditional print dress. 



“Even during Ebola time we were able to sell,” she said, referring to a deadly outbreak that killed thousands in West Africa in 2013-16. 



Africa was slower to feel the impact than Asia or Europe, but 31 African nations have now recorded cases, with 13 reported deaths. The World Health Organization on Wednesday advised African countries to avoid mass gatherings and “wake up” to the growing threat. 



<h3 class="wp-block-heading">PATIENTS ON THE RUN </h3>



On Wednesday, Kenya &#8211; which has seven cases &#8211; announced that anyone entering the country who fails to observe the required 14 days of self-isolation would be arrested. But there’s no system for monitoring new arrivals, and some flout the rules. 



A Kenyan legislator who turned up in parliament this week was forced out by cries of “quarantine! quarantine!” after another lawmaker pointed out he’d recently arrived from London. 



In South Africa, which has 116 cases &#8211; more than any other sub-Saharan nation &#8211; a family that tested positive for the virus refused to go into quarantine this week, forcing officials to get a court order. 



“Patients who are tested positive for the COVID-19 virus are required to stay (in quarantine). Not for their safety, but also for the safety of others,” said Kwara Kekana, spokeswoman for the Gauteng provincial health department. 



Some Africans find the measures draconian. 



In western Ivory Coast, which has only six coronavirus cases and no deaths, some people thought it was a bit much when the government told them to keep one metre apart and wash their hands rigorously. 



“People are exaggerating a bit. The disease hasn’t really spread far here, and they’re scaring us by telling us not to greet and to wear masks,” said Namory Doumbia, a 28-year-old chauffeur. 



Bans on large gatherings are sometimes selectively applied, confusing citizens. Senegal, a mostly Muslim West African country, cancelled religious festivals five days ago, but initially spared Islamic prayers. 



“We cannot forbid religious gatherings,” said Mbackiou Faye, a representative of Senegal’s powerful Mouride Muslim brotherhood. “It is with our prayers and our incantations that God answers them and spares us from diseases.” 



Late on Wednesday, Senegal &#8211; which has 36 cases &#8211; ordered both churches and mosques closed. But they remained open in other nations like Burkina Faso, where hundreds prayed together side-by-side in one of the capital’s largest mosques. 



Both Kenya and South Africa have directed public minibuses that provide transport to millions of people to provide passengers with hand sanitizers. Checks by Reuters revealed that few had done so. 



Passengers at a busy minibus rank in Johannesburg’s financial centre said they lived too far from their jobs to walk, and there was no other transportation. 



“I don’t feel safe in the (minibus) taxi,” said 29-year-old Lerato Sibandi, who needed to travel to her retail job. “But I don’t have a choice.” 



(Reporting by Tumelo Modiba in Johannesburg, Humphrey Malalo, Omar Mohammed and George Obulutsa in Nairobi, Hereward Holland in Kinshasa, Christophe Van Der Perre in Dakar,and Loucoumane Coulibaly in Abidjan; Writing by Tanisha Heiberg and Katharine Houreld; Editing by Alexandra Zavis and Nick Macfie)



This article was first published on Reuters Africa <a href="https://af.reuters.com/article/topNews/idAFKBN2160WG-OZATP">https://af.reuters.com/article/topNews/idAFKBN2160WG-OZATP</a> and is republished with its permission.

Africa talks tough against coronavirus but many wonder why

Southern Africa

S.Africa’s rand rises on Fed support even as lockdown looms

South Africa’s coronavirus cases reach 554, country braces for lockdown

FULL ADDRESS: Ramaphosa announces nationwide lockdown from Thursday midnight

Breaking: Nationwide lockdown announced in South Africa

Congo imposes 48-hour lockdown on mining province over coronavirus

South Africa’s confirmed coronavirus cases jump by 128 to 402

Alexander Forbes cancels $56 mln plan to buy out shareholder

The sun has set on Sol Kerzner, the Sun king

Op-Ed: Malawi – Intransigent Mutharika raises the temperature

MTN drops prices on monthly data bundles

COVID-19 cases rise to 202 in South Africa

S.Africa to erect 40km fence on Zimbabwe border as coronavirus measure

Panic buying forces South African supermarkets to ration food

In conversation with anti-apartheid fighter & ex-police chief Robert McBride

SARB delivers 100 bps rate cut to fight coronavirus fallout

Africa talks tough against coronavirus but many wonder why

MPC surprises with 100 basis points cut (Full Speech)

News Tips

Advertise With Us

Southern Africa

S.Africa’s rand rises on Fed support even as lockdown looms

South Africa’s coronavirus cases reach 554, country braces for lockdown

FULL ADDRESS: Ramaphosa announces nationwide lockdown from Thursday midnight

Breaking: Nationwide lockdown announced in South Africa

Congo imposes 48-hour lockdown on mining province over coronavirus

South Africa’s confirmed coronavirus cases jump by 128 to 402

Alexander Forbes cancels $56 mln plan to buy out shareholder

The sun has set on Sol Kerzner, the Sun king

Op-Ed: Malawi – Intransigent Mutharika raises the temperature

MTN drops prices on monthly data bundles

COVID-19 cases rise to 202 in South Africa

S.Africa to erect 40km fence on Zimbabwe border as coronavirus measure

Panic buying forces South African supermarkets to ration food

In conversation with anti-apartheid fighter & ex-police chief Robert McBride

SARB delivers 100 bps rate cut to fight coronavirus fallout

Africa talks tough against coronavirus but many wonder why

MPC surprises with 100 basis points cut (Full Speech)

News Tips

Advertise With Us

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