Oppenheimer Trust Will Make Loans Available To SMMEs From 3rd April 2020
The South African Future Trust (SAFT), established by Nicky and Jonathan Oppenheimer, will make funds available to South African businesses impacted by the coronavirus from 3 April 2020. Nedbank said that it will help facilitate the distribution of loans to small businesses on behalf of SAFT. “The main aim of the SAFT is to mitigate…
Free Live Webinar: Covid-19 Effects On SMEs
FREE WEBINAR SPONSORED BY ABSA The Effects of Covid-19 on South African SME’s 1st April 2020 – 12h00 About the Webinar In this webinar, Daily Maverick journalist, Ray Mahlaka will be in conversation with the CEO of Small Business Institute, John Dludlu and Absa’s Deputy CEO for Retail and Business Bank, Bongiwe Gangeni to discuss the various effects that the spread of…
Business Partners ready to take applications for the Rupert Funding by the end of the week
The disruption brought on by the Coronavirus Disease 2019 (COVID-19) has left many small-and-medium enterprises (SMEs) across the world uncertain about their future. Couple this with a low growth environment, South Africa entering a technical recession, and the country’s ratings downgrade to sub-investment grade by Moody’s on Friday, local SMEs have been dealt a particularly…
Call for Expression of Interest
Call for Expression of Interest Provision of Business Services to SMME’s and Cooperatives: Business Mentorship, Consulting, Post-Business Support and Coaching Submission Deadline: Tuesday, 21 April 2020 In line with the Government mandate of providing seamless and streamlined services to Small, Medium and Micro Enterprises (SMMEs) and Cooperatives, the Small Enterprise Development Agency (Seda) and Small…
Covid-19 SMME Intervention Measures
COVID-19 SMME INTERVENTION MEASURES SMME RELIEF FINANCE SCHEME This facility is a Soft Loan Facility, aimed at assisting existing businesses in order to keep them afloat during the COVID-19 pandemic for a period of 6 months, from April 2020. BUSINESS GROWTH AND RESILIENCE FACILITY This facility will fund SMMEs who Produce or Supply health care…
South Africans Warned Not To Wear Masks And Gloves During Lockdown
Many people feel that they can protect themselves against COVID-19 (Coronavirus) by wearing personal protection equipment (PPE) such as gloves and masks as a precaution. The Head of the Western Cape Health Department has issued an appeal to the general public of the province to not wear gloves and masks, due to the risks these…
Question and Answer on Lockdown for Business
The Covid-19 pandemic has required a rapid response from all parties in South Africa, including business. Since the lockdown announcement, there have been many important questions that require urgent answers. As such, attached is a Q&A which constitutes our expectations as to how the business lockdown will take effect. It is not an official document, but…
Panic Is Close Second To The Corona Curse
It is understandable that business owners feel panicky because of the toll Corona is taking on business income. However, many businesses realise that if they implement wholesale retrenchments they will not only lose valuable skills but will also reduce the buying power of the public. This would then further reduce the business’s ability to earn…
How To Report Price Gouging
Items ranging from toilet paper to meat now come with price controls, and any retailer that hikes the prices of those items unduly could be in for a fine of R1 million, or up to 12 months in prison. But if you think someone is trying to profiteer, don’t phone the police. The SA Police…
Moody’s Downgrades South Africa’s Ratings
Paris, March 27, 2020 — Moody’s Investors Service, (“Moody’s”) has today downgraded the Government of South Africa’s long-term foreign-currency and local-currency issuer ratings to Ba1 from Baa3. The outlook remains negative. The key driver behind the rating downgrade to Ba1 is the continuing deterioration in fiscal strength and structurally very weak growth, which Moody’s does…
Covid-19 SMME Debt Relief Finance Scheme
The Department of Small Business Development has introduced relief mechanisms for SMME’s impacted negatively by the COVID-19 Pandemic. Below please find mechanisms, criteria and processes to be completed: SMME Debt Finance Relief SMME Business Growth Resilience Facility