There are nearly 150 vaccines under development in the world for Covid-19. The frontrunner at the moment is the vaccine that is being developed by the Jenner Institute at Oxford University, which is being trialled in humans in the United Kingdom. AstraZeneca, which is producing the vaccine for the university, is so confident it will work that it has started beefing up production to have available 100 million doses in October. One of the concerns about the development of vaccines is that countries like South Africa will be at the back of the queue. South Africa has, however, now been given the opportunity to trial the Oxford Covid-19 vaccine. The University of the Witwatersrand started human trials this week. The Dean of the Faculty of Health Sciences at the University of the Witwatersrand, Prof Martin Veller told Biznews about the importance of trials in African populations and gave a sobering assessment of the timeline for vaccines and how our health services will cope with the rapid increase in coronavirus cases that the country is experiencing. – Linda van Tilburg

In this discussion, BizNews founder Alec Hogg and Stanlib Chief Economist Kevin Lings examine whether South Africa can emerge stronger after its battering by Covid-19 containment measures.

In the media conference after the Supplementary Budget, the head of SARS Ed Kieswetter outlined the five focus areas for the country's tax collection service. Multinationals who cheat SARS through transfer pricing, profit shifting and manipulating pricing of trade deals are in the crosshairts. So are the "aggressive tax arrangements" of the super-rich and high net worth South Africans.

In episode 52 of Inside Covid-19, you’ll notice a significant change as we’ve edited the interviews into highlights and with it shortened the length of the podcast. Interviews featured in this podcast are available in full separately via the Biznews.com website or App. In this episode, South Africa’s Supplementary Budget quantifies the cost to taxpayers of the pandemic at a net R341bn – we’ll examine the why, what and where to from here with contributions from finance minister Tito Mboweni; National Treasury director general Dondo Mogajane; and Stanlib chief economist Kevin Lings. Also in this episode, another kind of quantification, this time from Vitality’s wellness chief on how exercise habits have changed in lockdown, and we hear from the professor leading the local testing of Oxford University’s coronavirus vaccine. - Alec Hogg

In his supplementary budget speech, Finance Minister Tito Mboweni outlined the worrying economic picture for South Africa. He warned that debt could spiral out of control and said South Africa could find itself in a sovereign debt crisis that would plunge more people into poverty. This, he said, could undermine democracy.

Finance Minister Tito Mboweni announced in his supplementary budget speech that R21.5 billion rand will go towards Covid-19 related healthcare spending. A further allocation of R12.6 billion will go to services at the frontline of the response to the pandemic. There will be an adjustment to spending for the three tiers of government, with the allocation for provinces decreasing, and money for local governments - which are bearing the brunt of the pandemic - increasing.

Finance Minister Tito Mboweni presented his supplementary budget speech today with a warning that South Africa was facing a fiscal reckoning. The South African economy is expecting to contract by at least 7.2 per cent in 2020, which is the largest contraction in nearly 90 years. The emerging fiscal framework for 2020 includes: - Projected total consolidated budget spending, including debt service costs that will exceed R2 trillion for the first time ever. - Gross tax revenue collection to fall from R1.43 trillion to R1.12 trillion. It means missing the tax collection target for this year by over R300 billion. - A consolidated budget deficit of R761.7 billion, or 15.7 per cent of GDP in 2020/21. This is compared to the deficit of R370.5 billion, or 6.8 per cent of GDP projected in February. Changes to the division of revenue announced by Minister Mboweni: - National share for 2020/21 increases from R758 billion to R790 billion, the provincial share decreases from R649 billion to R645 billion and the local government share increases from R133 billion to R140 billion. Increases in local government spending is to counter the Covid-19 pandemic. The Minister warned that if South Africa remained passive, economic growth would stagnate, debt would spiral upwards and debt‐service costs will crowd out public spending on education and other policy priorities. "The gains of the democratic era would be lost." Mr Mboweni said he firmly rejects that path and the Government will adopt a policy debt stabilisation through zero-based budgeting. The aim is to stabilise debt and narrow the deficit and stabilise debt at 87.4 percent of GDP in 2023/24.

Prof Salim S. Abdool Karim is a leading AIDS scientist and Director at CAPRISA. Prof Karim talks about Governments evolving regulations to handle the out brake of Covid 19 and outlines the current challenges and solutions.

Ryan Woolley, the Chief executive of Insurance Claims Africa, speaks to Alec on the battle in the insurance industry. Insurance companies offered cover to businesses for Infectious to contagious diseases, and now with the Covid 19 outbreaks are reneging on their contracts.

Biznews founder Alec Hogg was interviewed by Lawrence Pollard on the BBC World Service's Newsday programme this morning for perspectives ahead of South Africa's Emergency Budget. He suggests finance minister Tito Mboweni has the best opportunity yet to channel his inner Deng Xiaoping - China's great economic reformer.

In today's news headlines: * The first clinical trial in South Africa and on the continent for a Covid-19 vaccine begins this week. The vaccine is already being evaluated in a large clinical trial in the UK where more than 4,000 participants have already been enrolled; * South African pharmaceutical maker Aspen could provide 10 million dexamethasone tablets within a month, CEO Stephen Saad; * South Africa’s unemployment rate rose to a 17-year high in the first quarter, even before the full impact was felt of the Covid-19 lockdown; * President Cyril Ramaphosa says the government will galvanise R2.3bn in infrastructure investment to create about 1.8m jobs over the next decade; and * The South African government said on Tuesday it had received unsolicited proposals from private sector funders, private equity investors and potential partners for a new national airline based on SAA.

In episode 51 of Inside Covid-19 there’s an update on South Africa’s war against the coronavirus from the country’s designated expert Dr Salim Abdul Karim; we hear about insurers that are refusing to settle billions in business interruption claims; there’s a look back to the Black Death and the Spanish Flu to try understand what the economy will look like after the pandemic; and we go inside the Oval Office with the exclusive interview our partners at the Wall Street Journal held with US president Donald Trump on the pandemic.

Index tracking funds eclipsed actively managed funds in assets under management last year, in a significant milestone for the global investment industry. In South Africa, passive investing has been gaining traction, too, with investors increasingly becoming wise to the need to pay close attention to costs, which can eat into returns. Index tracking funds tend to carry lower fees than actively managed alternatives, which is a significant reason index trackers consistently produce higher returns. Steven Nathan, CEO of 10x Investments – whose firm only uses index funds in retirement savings products – says individuals who are retiring are increasingly doing their own homework about investment opportunities rather than relying on advice of financial intermediaries. He tells BizNews founder Alec Hogg that more people who are changing jobs and want to preserve retirement capital are also opting for index tracking funds with lower fees. – Editor

The Sasol share price has given stock market investors a rollercoaster ride, plummeting from January to March and heading up again quickly to June. Sasol is listed on the Johannesburg Stock Exchange and is one of the most closely watched shares in South Africa. The underlying business activity does not appear to be the main, or only, driver of share price performance, with a recent update from Sasol on improvements failing to spur Sasol upwards. BizNews founder Alec Hogg picks up on the intriguing story of the Sasol share price ride in this interview with stock market fundi David Shapiro, BizNews.

In today's news headlines: * President Cyril Ramaphosa has warned that job cuts loom at public sector entities. The government is preparing a radical change to the budget to fix an economy battered by Covid-19; * Bond investors worry that borrowing R1bn a day won’t be enough to plug SA’s fiscal deficit - which could be the widest since world war one; * SAA’s business rescue plan is under attack from SA Airlink, a privately owned competitor of SAA, and labour unions; * City Lodge Hotels says it aims to raise up to R1.2 bn via a rights issue to stave off a cash crunch; * A court decision paves the way for the administrators to finalise the sales process for Edcon by the end of June. There are reportedly 15 interested parties; and * Worst performer on the Johannesburg stock exchange at the close of trading was Telkom, which lost about 8% of its value on news it has suspended dividends for three years.

In episode 50 of Inside Covid-19, coronavirus-inspired South Africans seeking diversification abroad can now buy into portfolios run by the world’s biggest investment houses at a discounted exchange rate; we have a look at the lockdown inspired day trading boom in the US, and then consider its local implications with David Shapiro - including a five-fold surge in the Sasol share price; and end up going to Germany to discover how to spot a fake or shoddy Covid-19 protective mask.

In this webinar, BizNews founder Alec Hogg discusses a Constitutional Court ruling that is set to shake up political governance. With him answering questions for the BizNews community are Teresa Conradie, a lawyer who played a key role in the case, and Herman Mashaba, a politician and entrepreneur. This is part 3 of a four-part series.

Political governance in South Africa has changed dramatically, following a Constitutional Court ruling that means Parliament is no longer the preserve of individuals who are in the main political parties. In part two of this webinar recording, BizNews founder Alec Hogg explores this critically important development with the lawyer behind the case, Teresa Conradie, and South African entrepreneur and politician Herman Mashaba. They take questions from Webinar attendees.

In today's news headlines: * Almost 93,000 people in South Africa have tested positive for Covid-19 since the start of the pandemic; * Finance Minister Tito Mboweni has told Parliamentarians that the Treasury plans to unveil “very serious and unusual changes” to its expenditure plans this week; * Tsogo Sun has come to the rescue of thousands of jobs after Marriott announced it was closing three hotels; * A bank set up by Brazil, Russia, India, China and South Africa has awarded $1bn (R17.5bn) worth of emergency loan assistance to South Africa; and * Hairdressers, tattoo artists and nail technicians are some of the people who can officially get back to work, with the government gazetting the rules of business at the weekend.

The news about dexamethasone – a potential new Covid-19 treatment – is great, but it doesn’t mean we’re out of the woods. Not by a long shot. While it’s natural for us to be enthusiastic about any positive Covid-19 news, whether it’s a new treatment option or a possible vaccine, we also need to be realistic about the ongoing need to slow the spread of the virus. As South Africa reopens amid a rapidly accelerating outbreak, it’s more important than ever that people do everything they can to flatten the curve. And a big part of that is accepting that we’re going to be living with Covid-19 for a long time to come. In this episode, featuring content from the Bloomberg Businessweek podcast, we look at the state of the fight against Covid-19, new treatments, testing, and the reality of the new normal.

In episode 49 of Inside Covid-19, good news if you’re a careful driver or have a well-run small business; why remote doctor consults (telemedicine) is here to stay; an update on the search for an effective way to identify those with Covid-19 antibodies; the CEO of Sun International explains what the opening up of hotels means for the group on whom 20,000 livelihoods depend; and we take another look at Dexamethasone, the anti-inflammatory drug made in South Africa by Aspen Pharmacare, which is being hailed globally as a breakthrough saving the lives of 30% of critically ill coronavirus patients during a large trial in the UK. - Alec Hogg

In today's news headlines: * DA leader John Steenhuisen says the ANC, not Covid-19, is to blame for the country’s economic woes after President Cyril Ramaphosa announced that the lockdown will be substantially eased; * Tesla directors, including co-founder Elon Musk, awarded themselves massive compensation packages over a three-year period and improperly siphoned hundreds of millions of dollars out of the electric carmaker’s coffers, a pension fund invested in the company alleges; * Covid-19 containment has broken many businesses and pushed many perilously close to collapse – but for the Sasol executive team this has proved to be a time to develop plans to improve the business and review its business and workforce structures; * South African retailer The Foschini Group gained more than 5% on the Johannesburg stock exchange after announcing plans to raise about R4bn; * Education provider Curro will use a R1.5bn oights offer to proactively reduce the gearing levels; and * Troubled Tongaat Hulett has entered into an agreement with eSwatini’s Public Service Pensions Fund to sell Tambankulu Estates to help it reduce its massive debt.

Episode 48 of Inside Covid-19 is highlighted by the effective ending of South Africa’s lockdown of almost three months. In an address to the nation this evening President Cyril Ramaphosa announced that previously closed business sectors such as sitdown restaurants, hotels, hairdressers, spas and even cinemas and casinos will re-open soon, albeit with strict social distancing guidelines. Also coming up, we visit with Discovery CEO Adrian Gore and get the inside track on excitement around the 80 year old drug Dexamethasone, produced by Durban headquartered Aspen, after a 4,500 person Oxford University trial showed it delivered a 30% drop in mortalities among Covid-19 patients. There’s scary news out of South America which is now officially the world’s new coronavirus hotspot, we hear how restaurants which have opened elsewhere have had to adjust, and speak to Vumacam’s CEO Ricky Croock about the way criminals have adjusted to the new normal. - Alec Hogg

In today's news headlines: * Although Covid-19 cases are rising sharply, South Africa is set to lift some lockdown restrictions soon to ease the economic burden and curb job losses. This was the announcement by President Cyril Ramaphosa on Wednesday night in his address to the nation; * Dexamethasone, manufactured in SA and Germany under a global licence by Johannesburg-listed Aspen, has been hailed as a major breakthrough in the global battle to reduce the number of deaths from Covid-19; * National Director of Public Prosecutions Advocate Shamila Batohi says the tide against corruption is turning. This follows the arrests of in connection with the looting of R2bn worth of pensioners funds at VBS Mutual Bank; and * Troubled sugar producer Tongaat Hulett said on Wednesday it would sell a sugarcane farm in eSwatini to the country’s public pension fund for R375m.

President Cyril Ramaphosa has unveiled the next steps to ease Covid-19 restrictions, with the focus on getting South Africa back to work in a way that minimises the spread of the deadly coronavirus - which is rising at an ever-faster pace. He has also criticised the culture of violence towards women and has flagged up that the government is set to take action to curb excessive alcohol consumption, the sale of alcohol to young people and alcohol-related violence and traffic accidents.