Government Invests R500 Million on COVID-19 Vaccine

By: Zilungile Mkhize

Finance Minister Tito Mboweni has confirmed that government will invest R500 million to secure its place for the first few countries that will receive the Covid-19 vaccine when it is found.

Several companies around the world are rushing to development an effective Covid-19 vaccine.

Thousands have died in the country since the first coronavirus case was confirmed in March.

Speaking during a Bloomberg webinar, Mboweni says he is worried about the effect of a second surge on the economy but feels confident that South Africa is well placed to benefit from a successful vaccine.