The South African government has kicked off a number of initiatives to help businesses and their employees through COVID-19. Below we have summarised some of the finalised relief programmes.
The COVID-19 Loan Scheme is designed to help businesses across the country who may not be able to meet their financial obligations during lockdown, thus ensuring their resilience as the economy reopens.
National Treasury together with the South African Reserve Bank and SA banks have reviewed Phase 1 of the COVID-19 Loan Scheme criteria to make the loans more accessible to distressed businesses. FNB will be facilitating the disbursement of Phase 2 of the COVID-19 Loan Scheme to businesses that qualify.
If you provide essential services and products to the fight against COVID-19 and need funding to keep up with growing demand.
The South African Government, has shown remarkable unity in a joint effort to protect our country against the impact of COVID-19, especially those whose financial position has been impacted by COVID-19.
In order to assist with alleviating any cash flow burden arising as a result of COVID-19, Government proposes the following tax measures for tax-compliant businesses with turnover of less than R50 million per annum. These will only be applicable for 4 months from 1 April 2020 to 31 July 2020.
In order to minimise the loss of jobs during COVID-19, the government has a number of relief programmes to assist businesses and their employees.
