Streaming issues? Report here
Deutsche Welle DW logo Deutsche Welle DW logo
DW Hour
00:00 - 01:00
volume_up
volume_mute

Up Next: Best of Talk
See full line-up
DW Hour
00:00 - 01:00

Home
arrow_forward
Business

Solidarity Fund: 'Not all small businesses covered, given our fiscal problem'

24 March 2020 2:48 PM
Tags:
Informal traders
Johann Rupert
Thabi Leoka
Nicky Oppenheimer
SMEs
small business
Clement Mayantela
a2Pay
Coronavirus in South Africa
covid-19 in south africa
solidarity fund
Jon Paris
Thabi Leoka discusses the fund, seeded by Government to the tune of R750m and two famous billionaires who each contribute R1bn.

Small businesses are going to take massive blows over the next few weeks and months.

Many will cease to exist, taking the livelihoods of employees with them.

Picture: 123rf.com

The government has created a relief fund for small businesses worth R750 million.

On top of that, Johann Rupert and Nicky Oppenheimer are giving away R2 billion towards keeping small firms from going under and to help workers who suffer a loss of income.

Clement Manyathela interviewed independent economist Dr. Thabi Leoka.

He also spoke to Jon Paris, Head of Commercial at A2Pay.

Not all businesses will be covered... given our fiscal problem... unlike many other countries... but there has been this solidarity fund... seeded by Government to the tune of R750 million and the two famous billionaires contributing R1 billion each...

Dr. Thabi Leoka, economist

The IDC is also funding an amount of R3 billion, mainly to manufacturers...

Dr. Thabi Leoka, economist

It’s not yet clear [who will benefit from the Solidarity Fund]…

Dr. Thabi Leoka, economist

There is funding allocated to the informal sector... About 3.9 million South Africans belong to this sector...

Dr. Thabi Leoka, economist

Banks will assist you accordingly, especially those in good standing... It’s not all doom and gloom...

Dr. Thabi Leoka, economist

There will be a safety net for informal businesses... We hope that spaza shops do stay open... They are close to the community... We’re hoping their sales increase...

Jon Paris, Head of Commercial - A2Pay

For more detail, listen to the interviews in the audio below.

Subscribe to our Business Wrap Newsletter


24 March 2020 2:48 PM
Tags:
Informal traders
Johann Rupert
Thabi Leoka
Nicky Oppenheimer
SMEs
small business
Clement Mayantela
a2Pay
Coronavirus in South Africa
covid-19 in south africa
solidarity fund
Jon Paris

Recommended

More from Covid-19 coronavirus explained

alexandrajpg

[LATEST] South Africa's Covid-19 cases rise to 1,845 and a total of 18 deaths

8 April 2020 8:37 PM

Health Minister Zweli Mkhize on Wednesday night said the number of Covid-19 infections in the country had increased by 96.

Share this:
Read More arrow_forward

200403netcaregif

How did a single Netcare hospital become the epicentre of Covid-19 in KZN?

8 April 2020 6:53 PM

Bruce Whitfield interviews Richard Friedland, CEO at Netcare – owner of the hospital at the epicentre of KZN’s Covid-19 outbreak.

Share this:
Read More arrow_forward

jabjpg

Could a routine TB vaccine given to South Africans protect against Covid-19?

8 April 2020 5:23 PM

Scientists are exploring a possible causal link between the BCG jab and low Covid-19 fatality rates.

Share this:
Read More arrow_forward

doctor

Health workers given 4bn in life cover from Old Mutual

8 April 2020 4:34 PM

Old Mutual is giving R4bn worth of free life cover to healthcare workers on the front-lines of the Covid-19 outbreak.

Share this:
Read More arrow_forward

200318-tedros-whojpg

Listeners put their Covid-19 questions to the WHO

8 April 2020 3:26 PM

Natural remedies, a link to 5G technology and life after lockdown. Listeners put their Covid-19 questions to the WHO on CapeTalk.

Share this:
Read More arrow_forward

180320germistom-rankgif

Should government subsidise SA's taxi industry?

8 April 2020 1:15 PM

Kieno Kammies asks whether the taxi industry should receive a government subsidy in light of the impact of the Covid-19 lockdown.

Share this:
Read More arrow_forward

Young business school students 123rfbusiness 123rfeducation 123rf

WC authorities busy with scenario planning for Covid-19's economic impact

8 April 2020 11:41 AM

The Western Cape's Economic Development and Tourism Department is currently scenario planning for interventions post-Covid-19.

Share this:
Read More arrow_forward

Waterfront-Cape-Town-wheel-tourism-123rf

How SA tourism is set to reimagine itself post-Covid-19 lockdown

8 April 2020 11:34 AM

SA Tourism is hosting webinars open to everyone interested in reshaping and reinventing tourism post lockdown.

Share this:
Read More arrow_forward

Google maps 15 birthday navigation

Google uses map data to analyse whether we're behaving during lockdown

8 April 2020 10:08 AM

Google Community Mobility Reports provide insights into what has changed in response to policies aimed at combating COVID-19.

Share this:
Read More arrow_forward

Hospital nurses doctors 123rf

Stringent plans in place for health workers, says W Cape Health

8 April 2020 9:05 AM

Only eleven health workers tested Covid-19-positive over the past four weeks, says W Cape Health head Dr Keith Cloete.

Share this:
Read More arrow_forward