For Creamer Media in Johannesburg, I’m Thabi Madiba.

Making headlines: Ramaphosa says mediation is the answer in Russia’s invasion of Ukraine; South Africa recorded 2 411 new Covid-19 infections; And, the Russian invasion could hit South African pockets

 

Ramaphosa says mediation is the answer in Russia’s invasion of Ukraine

President Cyril Ramaphosa has admitted that "diplomacy has failed" in dealing with the escalating Ukraine-Russia crisis – but is adamant that the situation can still be salvaged through mediation by the United Nations Security Council.

Speaking at the Intergovernmental National Litigation Forum in Pretoria, Ramaphosa said it was "not necessary for people to die" and for property to be destroyed when the option of mediation was available.

He called for the United Nations Security Council to step in. Meanwhile, the President confirmed that NATO representatives had sought to engage with him, but he gave no further details.

 

South Africa recorded 2 411 new Covid-19 infections

South Africa recorded 2 411 new Covid-19 infections on Thursday, representing a 7.8% positivity rate.

Seven new Covid-19-related deaths were recorded in the last 48 hours, bringing the confirmed death toll to 99 018.

There were 82 new hospital admissions in the last 24-hour reporting cycle. As of Thursday, 3 075 people were in public and private hospitals for Covid-19.

 

And, the Russian invasion could hit South African pockets

The conflict in Ukraine might be geographically far removed from South Africa, but its ripple effect might soon be felt by local consumers.

If the Russian invasion of Ukraine is not resolved quickly, South Africa could feel a squeeze from spikes in petrol prices, as well as earlier and bigger interest rate hikes by the South African Reserve Bank to curb inflation, and higher bread prices.

Furthermore, a lower demand for SA's commodities and a "risk-off" attitude among investors towards emerging markets, could end up impacting the rand.

The global oil price surged past $105 per barrel yesterday after Russia sent military forces into parts of Ukraine, increasing fears of a war in Eastern Europe. Russia is a key producer of crude oil and the market is nervous that oil supplies will be disrupted.

 

That’s a roundup of news making headlines today

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