Publications
We will therefore act very strongly against any attempts at corruption and profiteering from this crisis.
I have directed that special units of the NPA be put together to act immediately and arrest those against who we find evidence of corruption.
We will work with the judiciary to expedite cases against implicated persons and make sure the guilty go to jail.
South Africa has a safe, sound, well-regulated and resilient financial sector.
Since the global financial crisis, we have taken steps to strengthen the banking system, including increasing capital, improving liquidity and reducing leverage.
With a strong financial sector and deep and liquid domestic capital markets, we have the space to provide support to the real economy.
We can make sure money flows to firms and households.
We can ensure that our markets are efficient.
Last week, in line with its Constitutional mandate, the South African Reserve Bank cut the repo rate by 100 basis point. This will provide relief to consumers and businesses.
The South African Reserve Bank has also proactively provided additional liquidity to the financial system.
The Governor has assured me that the Bank is ready to do ‘whatever it takes’ to ensure the financial sector operates well during this pandemic.
The banking system will remain open, the JSE will continue to function, the national payment system will continue to operate and the Reserve Bank and the commercial banks will ensure that bank notes and coins remain available.
The action we are taking now will have lasting economic costs.
But we are convinced that the cost of not acting now would be far greater.
We will prioritise the lives and livelihoods of our people above all else, and will use all of the measures that are within our power to protect them from the economic consequences of this pandemic.
In the days, weeks and months ahead our resolve, our resourcefulness and our unity as a nation will be tested as never before.
I call on all of us, one and all, to play our part.
To be courageous, to be patient, and above all, to show compassion.
Let us never despair.
For we are a nation at one, and we will surely prevail.
May God protect our people.
Nkosi Sikelel’ iAfrika. Morena boloka setjhaba sa heso.
God seën Suid-Afrika. God bless South Africa.
Mudzimu fhatutshedza Afurika. Hosi katekisa Afrika.
I thank you. — Supplied.
