As the country waited late last night to hear from President Cyril Ramaphosa about what emerged from the meeting of the government’s Command Council, which is managing the coronavirus crisis, there were some glimmers of good news amid the gloom. For a start, it looks as though the South Africans repatriated from Wuhan in China will be going home, after repeated tests have shown them to be free of Covid-19. Then, also yesterday, Standard Bank started to show the way to other financial institutions by announcing a “repayment holiday” for certain categories of its loan clients. While that was encouraging…
As the country waited late last night to hear from President Cyril Ramaphosa about what emerged from the meeting of the government’s Command Council, which is managing the coronavirus crisis, there were some glimmers of good news amid the gloom.
For a start, it looks as though the South Africans repatriated from Wuhan in China will be going home, after repeated tests have shown them to be free of Covid-19.
Then, also yesterday, Standard Bank started to show the way to other financial institutions by announcing a “repayment holiday” for certain categories of its loan clients. While that was encouraging news, it didn’t go nearly far enough, in the view of The Citizen, in terms of what needs to happen to prevent the virus from devastating our economy.
All banks need to consider concessions for all categories of loans because there will be severe financial distress in the weeks and months ahead for many South Africans.
Many will lose their jobs, many more will be forced to take unpaid leave and many businesses will close their doors never to reopen.
We believe the banks have the financial muscle to be able to withstand these sorts of measures.
We are heartened by the comments yesterday by Banking Association of SA board member Richard Wainwright, after a meeting of business and government, to the effect that the banking sector is ready to play its part.
Now is the time for all South Africans to put compassion before profit and we sincerely hope our banks – who are not popular with many consumers at the best of times – carry out their civic duty.
However, even as people waited for Ramaphosa to speak, there were many disturbing indications that the government would have to announce even more harsh measures to force South Africans to take the Covid-19 threat more seriously.
It has become clear that the virus is not being contained or slowed down nearly enough in South Africa.
Many people still think they can party as though nothing has changed, safe in their arrogant belief that the virus is something that will affect someone else, but not them.
Disturbingly, there are still those in the black community who believe this global pandemic will somehow pass Africans by.
Many believe they can still attend large church services, safe in their belief that their God (whoever or whatever they conceive that presence to be) will protect them from the nanoparticles of infection; and comforted by their belief that no mortal man or woman is stronger than that God.
Very few are properly applying the rules of self-isolation and, instead of staying at home permanently, believe they can still go out to restaurants and socialise without repercussions.
That is exactly the same attitude which prevailed in Italy up until a fortnight ago.
Now, that country is burying hundreds of people a day and even its health service – which is magnitudes more sophisticated and well-equipped than ours – is being overwhelmed.
In Spain, the situation is growing just as dire and, in the United Kingdom, they are preparing for the tsunami of deaths.
With millions of people with compromised immune systems because of TB and HIV/Aids, South Africa could be many times worse.
It is up to every one of us to do everything we can to prevent that very real Apocalypse from visiting us.
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