• News
  • Sport
  • TV
  • Radio
  • Education
  • TV Licences
  • Contact Us
No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • SCI-TECH
  • LIFESTYLE
  • FEATURES
  • OPINION
Home Business

Business sector tables proposals to mitigate COVID-19 impact on economy

22 March 2020, 5:14 PM  |
SABC SABC |  @SABCNews
Economic Development Minister Ebrahim Patel says the details of the meeting with President Cyril Ramaphosa will be announced during the President's address to the nation later on Sunday.

Economic Development Minister Ebrahim Patel says the details of the meeting with President Cyril Ramaphosa will be announced during the President's address to the nation later on Sunday.

Image: SABC News

Economic Development Minister Ebrahim Patel says the details of the meeting with President Cyril Ramaphosa will be announced during the President's address to the nation later on Sunday.

Economic Development Minister Ebrahim Patel says business has contributed excellent ideas and proposals to government with regards to mitigating the impact of the COVID-19 pandemic on the economy.

Representatives of business organisations including Business Unity South Africa (BUSA), Business Leadership South Africa (BLSA), the Banking Association and large insurance companies met with President Cyril Ramaphosa at the Union Buildings a short while ago on Sunday.

The engagement was aimed at ensuring that a consolidated economic plan takes into account the business sector’s recommendations.

Patel says the details will be announced during the President’s address to the nation later on Sunday.

He says, “We gave a report on the work that government is doing; the work that we are doing in monitoring the impact of the global slowdown in our own economy, because we sell goods to other parts of the world. We shared with the business community also the work we are doing to ensure basic stocks of health products in South Africa, that there are food and other stocks to our people. We provided information on competition exemptions and price regulations that have been published in the last number of days. We also talked about what we can do to protect vulnerable enterprise particularly small businesses.”

In the video below, business, political parties unite in the fight against COVID-19 pandemic:

Richard Wainwright of the Banking Association says banks and financial services companies are well-placed to play an important role in alleviating the impact of the COVID-19 pandemic in the country.

Wainwright, together with other business representatives, was part of the group that met with President Ramaphosa.

Wainwright spoke to media after the business leaders’ meeting with the president.

He says, “Our members and the industry are very well-positioned to collaborate with business. Our clients with government, with our regulators, in helping the nation deal with this crisis that we are facing. We have, to date, already been working extensively through the various ministries and the regulatory bodies to ensure that we play our role and it is a critical and significant role that we can play as banks and financial services companies in helping South Africa deal with this country.”

Some sections of society, including the Democratic Alliance, have called for a nation-wide four-month payment holiday on loans for small and medium businesses, in particular property loans, business loans, and vehicle loans.

Standard Bank has announced a three-month payment holiday for small business owners and students with loans at the bank to give some relief to customers as the country battles the coronavirus pandemic.

Standard Bank’s head of personal and business banking, Funeka Montjane, says clients who are in good standing will qualify automatically for the reprieve.

She says business must have a turnover of less than R20 million rand to qualify.

Share article
Tags: EconomyBusiness Unity South AfricaEbrahim PatelBanking AssociationBusiness Leadership South AfricaCOVID-19
Previous Post

ACDP leader Kenneth Meshoe to be tested for COVID-19

Next Post

Coronavirus medical supplies donated by Alibaba’s Jack Ma arrive in Ethiopia

Related Posts

Adv Tembeka Ngcukaitobi SC, representing Competition Commission in this matter

Sasol urges Nersa to set the price rather than Competition Tribunal

6 February 2023, 5:32 PM
A Transnet locomotive seen on a track

Transnet takes steps to mitigate and minimise rolling blackouts

6 February 2023, 4:10 PM
Mineral Resources and Energy Minister Gwede Mantashe engaging with the media at the Investing in African Mining Indaba at the Cape Town International Convention Centre on February 6, 2023.

Govt working on plan to resolve load shedding in the next 12 months: Mantashe

6 February 2023, 1:30 PM

LIVE | Mining Indaba 2023

6 February 2023, 8:43 AM
[File Image] Miners work deep underground at Sibanye Gold's Masimthembe shaft in Westonaria, South Africa, April 3, 2017.

Energy crisis set to dominate Mining Indaba

6 February 2023, 6:03 AM
FILE PHOTO: The company's logo is seen at a Nestle plant in Konolfingen, Switzerland September 28, 2020. REUTERS/Arnd Wiegmann

Nestle to hike food prices further in 2023, CEO says

4 February 2023, 2:51 PM
Next Post
Ethiopian Airlines workers transport protective and medical equipment donated by Chinese billionaire and Alibaba co-founder Jack Ma.

Coronavirus medical supplies donated by Alibaba's Jack Ma arrive in Ethiopia

Most Viewed

  • 24hrs
  • Week
  • Month
  • Registration at Unisa closes on Friday, but management says no need to panic
  • Green comet to be visible from SA next week
  • VIDEO: Mabuza resigns as SA Deputy President
  • Budding Stellenbosch FC star reportedly stabbed to death
  • Shock over proposed SA sponsorship of Tottenham Hotspur
  • Parts of the Northern Cape to be exempted from rolling blackouts
  • Registration at Unisa closes on Friday, but management says no need to panic
  • VIDEO | St Benedict College’s Matric learner gets 11 distinctions
  • Limpopo matriculant from child-headed household attains diploma pass
  • Female circumcision practice thriving in Eastern Cape
  • Kellerman, Bantwini, Zikode win Grammy award
  • We are not moved by threats made by Malema: Mbalula
  • Former Orlando Pirates midfielder John Moeti passes away
  • ‘If you are lazy, stay home’, Mbalula advises ANC members
  • Pope Francis says laws criminalising LGBT people are a ‘sin’ and an injustice

LATEST

Adv Tembeka Ngcukaitobi SC, representing Competition Commission in this matter
  • Business

Sasol urges Nersa to set the price rather than Competition Tribunal


[File Photo] the National Assembly.
  • Politics

NFP and ANC file motions of no confidence against IFP office bearers in Nongoma


A Transnet locomotive seen on a track
  • Business

Transnet takes steps to mitigate and minimise rolling blackouts


People gather as rescuers search for survivors under the rubble, following an earthquake, in rebel-held town of Jandaris, Syria February 6, 2023.
  • World

Gift of the Givers on standby to fly out to earthquake-hit Turkey and Syria


Wouter Kellerman, Zakes Bantwini and Nomcebo Zikode receive the Grammy award for Best Global Music Performance in Los Angeles California on February 6, 2023.
  • Lifestyle

Ladysmith Black Mambazo congratulates SA musicians on their Grammy wins


Patient being evacuated close to the Boss 400 wreck.
  • South Africa

NSRI cautions against visiting Bos 400 shipwreck site


Weather

  • About the SABC
  • Contact Us
  • Jobs
  • Advertise
  • Disclaimer
  • Site Map

SABC © 2023

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • SCI-TECH
  • LIFESTYLE
  • FEATURES
  • OPINION

© 2022

Previous ACDP leader Kenneth Meshoe to be tested for COVID-19
Next Coronavirus medical supplies donated by Alibaba’s Jack Ma arrive in Ethiopia