“The fund will assist with the cost of supplies and help identify opportunities for local manufacturers of products that are experiencing global supply chain disruptions, particularly in the medical, pharmaceutical and protective equipment industries.”
Busa said the president’s announcement of financial support by way of taxation and other relief for small and medium-sized enterprises (SMEs), 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.”
Busa vice-president Martin Kingston said: “While we all recognise the need to make sacrifices during this demanding time, we must stand in unity with our government and stay at home to overcome the current challenging circumstances. As business people, we firmly believe that through this crisis, we will lay the basis for a stronger South Africa, taking collective responsibility for our future”.