This is according to Business Unity SA , in reaction to the imminent lockdown to counter the spread of Covid-19. It comes into effect at midnight on Thursday.
Busa said the Solidarity Fund announced by President Cyril Ramaphosa on Monday “will contribute in a meaningful way to support the vulnerable in this time of need”.Funds received from corporate and other entities, like stokvels, as well as willing and able individuals, and the international community, will drive social cohesion. Funds will be directed towards mitigating the spread of Covid-19 and caring for South Africans whose lives have been severely disrupted over recent weeks.
Busa said the president’s announcement of financial support by way of taxation and other relief for small and medium-sized enterprises , specifically those that will be negatively affected by the economic impact of Covid-19, is strongly welcomed as a clear commitment to address the impending recessionary environment.Business will work alongside numerous social partners to mobilise support to businesses, particularly SMEs, the vulnerable and those whose livelihoods are now threatened.