Discovery chief executive Adrian Gore has added his voice to calls for the government to urgently implement the necessary means to provide financial assistance for Small Medium and Micro Enterprises (SMME).
In an interview with digital broadcaster Bronwyn Nielsen, Gore said the country was entering an important phase of the coronavirus lockdown period, and that restarting the economy would depend on a number of crucial decisions.
“The really vulnerable sector is the SMMEs.
“The quicker we can get funding to them the better.”
He added that although the funding measures, financial aid packages and tax-break initiatives announced by President Cyril Ramaphosa on Tuesday were substantial, it remained to be seen what the government’s risk-based approach meant.
Gore said that certain businesses, particularly those in the hospitality sector, would most likely feel the brunt of extended and enforced self-isolation as the nature of restaurants and the like depended on people congregating together
“They are going to have a difficult time”, he said.
In respect of continued measures taken to flatten the curve of the coronavirus' spread in South Africa, Gore said: “My sense is that decisions taken from now will be quite crucial.”
· Ramaphosa is expected to address the nation tonight.
