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Cyril Ramaphosa walks past a photo of former South African President FW de Klerk at de Klerk's state memorial service on Dec. 12. Photo: Rodger Bosch/AFP via Getty Images

South Africa's President Cyril Ramaphosa tested positive for COVID-19 on Sunday and is being treated for "mild" symptoms, his office announced.

Driving the news: The government's statement did not specify whether the president has the Omicron variant though it did note that Ramaphosa, 69, is fully vaccinated and remains in "good spirits" as he self-isolates in Cape Town.

  • "The President started feeling unwell after leaving the State Memorial Service" for former President F.W. de Klerk in Cape Town earlier on Sunday, the statement read.
  • Deputy President David Mabuza will be taking over Ramaphosa's responsibilities for the next week.

The big picture: COVID-19 cases in South Africa have surged in recent weeks following the discovery of the Omicron variant.

  • New data from South Africa and Europe indicates the new variant is also spreading widely among vaccinated individuals.

Go deeper

Jan 15, 2022 - Health

Experts warn of more COVID-19 variants after Omicron

Three COVID-19 testing companies place testing locations outside Grand Central Terminal on Jan. 14 in New York City. Photo: Alexi Rosenfeld/Getty Images

Experts are warning that subsequent COVID-19 variants are likely to come after Omicron, AP reports.

Why it matters: The warnings come as there's no guarantee that subsequent variants "will cause milder illness or that existing vaccines will work against them," underscoring the need for widespread vaccination, AP writes.

Why 401(k) rollovers are so annoying

Illustration: Aïda Amer/Axios

If you happened to change jobs recently, you may have tried to transfer your retirement account from your former employer into an Individual Retirement Account or your new employer's 401(k) plan. If so, you probably encountered a bureaucratic gantlet — and you're not alone.

Why it matters: Kludgey processes around retirement account transfers result in people losing track of their funds, giving up important tax advantages, or otherwise disadvantaging themselves and being less prepared for retirement.

The hard math behind America's labor shortage

Data: Bureau of Labor Statistics, Congressional Budget Office; Chart: Axios Visuals

Yes, the pandemic has created unusual temporary labor market dynamics. But in the bigger picture, the 2010s were a golden age for companies seeking cheap labor. The 2020s are not.

The big picture: In the 2010s, the massive millennial generation was entering the workforce, the massive baby bo0m generation was still hard at work, and there was a multi-year hangover from the deep recession caused by the global financial crisis.