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SAB's sobering announcement is likely to rip a hole in the South African economy, as the third alcohol ban takes a devastating toll on scores of businesses.
South Africa is one of the hardest-hit countries in Africa with over 740,000 infections.
The country recorded 60 more virus-related deaths on Wednesday, bringing the death toll to 20,011.
ONE INVESTMENT strategist has advised Jamaicans not to falter on their investments, but to remain steadfast despite concerns about the COVID-19 pandemic. Delories Jones, senior vice-president, sales strategy, at JN Fund Managers, says that...
Avid Support Outside Court
Hundreds of supporters of Ace Magashule, the Secretary-General of South Africa's ruling African National Congress (ANC) party, staged protests on Friday as some even tried to force way into the magistrate's court in Bloemfontein, the capital of the Free State, where Magashule appeared for his hearing over alleged graft revolving around the equivalent of 13.9 million euros in contracts to audit houses with asbestos roofs — awarded under former president Jacob Zuma's corruption-tainted nine-year administration between 2009-2018. His successor Cyril Ramaphosa has vowed to root out corruption in South Africa, which has seen the ANC at the head of national politics since the icon Nelson Mandela came into power in 1994 after the fall of the white supremacist oppressive apartheid regime.
The court appearance follows an arrest warrant issued on Tuesday over Magashule's alleged failures to conduct oversight and report corrupt dealings.
The ANC said it would monitor developments closely.
Kenneth Bacon is Co-Founder & Managing Partner at RailField Realty Partners, an investment management firm that invests in apartments on behalf of institutional investors.
Previously, Bacon was Executive Vice President for Fannie Mae’s multifamily business. In this role, Bacon was responsible for a $195 billion portfolio, which included senior debt, mezzanine loans, tax credits and equity. Prior to joining Fannie Mae, Bacon served as Director of Securitization at the Resolution Trust Corporation.
Bacon is a member of the National Multifamily Housing Council and a Director of Bentall Kennedy, a privately-held Canadian real estate investment advisory firm. Bacon is a former Trustee of Stanford University and is also a member of various advisory boards at the school including the Stanford Center on Longevity.
Bacon holds a Bachelor of Arts degree from Stanford University, a M.S. from the London School of Economics, where Bacon studied as a Marshall Scholar, and MBA from the Harvard Graduate School of Business.
