Ramaphosa meets business leaders as virus spreads
South African President Cyril Ramaphosa will meet with business leaders today as the government mulls relief measures to mitigate the impact of the novel coronavirus outbreak on the economy.
The country has escalated measures to curb the spread of the virus, including banning travel to and from various countries and limiting gatherings to no more than 100 people, as the number of infections rises. The restrictions are expected to dampen the country’s already dire economic outlook, with the Reserve Bank saying the country is likely to contract 0.2% this year, after slipping into a recession at the end of 2019.
Ramaphosa said his administration is on track to lure $100-billion in new investment within five years, with more than $16-billion already committed and many more projects in the pipeline.
Among the proposals the business sector may be tabling is tax and loan relief for small- and medium-szied enterprises, as well as an amendment to the Unemployment Insurance Fund Act to allow workers who put in shorter hours to claim the shortfall from the fund, the Business Times reported.
The president is expected to discuss the measures at a meeting of the national command council that will also consider whether what is currently being done is sufficient. The number of confirmed South African cases rose to 240 on Saturday, with no deaths.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation