Photo: Malherbe Nienaber
Western Cape Finance MEC David Maynier has pleaded for more money to help the province s battered tourism and hospitality sector.
One of Maynier s proposals is the extension of the Covid-19 Temporary Employee Relief Scheme.
In October 2020, Employment and Labour Minister Thulas Nxesi said the UIF has around R50 billion available.
The Western Cape s tourism and hospitality sector is on its knees.
With new Level 3 lockdown regulations in place, many businesses cannot sustain their operations or pay their employees.
For the last 10 months, businesses barely survived the lockdown and the constant regulations.
Western Cape Finance MEC David Maynier has made a desperate plea to Employment and Labour Minister Thulas Nxesi to urgently extend the Unemployment Insurance Fund (UIF) Temporary Employee Relief Scheme (TERS) benefits.
Dec 22, 2020
Experian South Africa’s latest Business Default Index (BDI) improved sharply in Q3 rising from its extremely depressed level of -3.728 in Q2, to -1.402 in Q3.
According to Jaco van Jaarsveldt, chief decision analytics officer at Experian Africa, the Covid-19 pandemic and its impact on economic activity as a result of the lockdown, played a significant role in bringing about a deterioration in the BDI in previous quarters, but by Q3, far more business activity was being conducted than in Q2.
“During Q2, both international and domestic economies were heavily locked down in an effort to quell the spread of COVID-19. This meant that many sectors saw activity declining by between 50% and 100% through the course of April specifically. From May onwards, some of the lockdown restrictions gradually came to be lifted, which benefitted Q3 greatly.
New data shows level of health of businesses in South Africa businesstech.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstech.co.za Daily Mail and Mail on Sunday newspapers.