Support for small informal businesses from Hermanus Siyakha

How have small informal businesses responded to the lockdown? The information coming from Hermanus Siyakha, the non-profit organisation that provides mentoring and interest-free loans, provides some insight into the current situation.

“Of the 31 businesses that received loans in the 12 months ended March 2020, all have been unable to trade under the stringent lockdown conditions, and the majority took advantage of the loan repayment moratorium that was offered,” says Nigel Thatcher, a director of Hermanus Siyakha.

“A small number, however, managed to continue with loan repayments, either using their savings or income from other sources. One business owner whose coffee shop and peanut butter manufacturing operation could not continue, in true entrepreneurial spirit successfully switched to cooking and delivering pizzas.”

Due to the prohibition on movement, Nigel says the more than 20 Hermanus Siyakha mentors have maintained contact with business owners via cellphone or WhatsApp in order to encourage and support them in this difficult time. Zelda Malunda, who sells clothes, shoes, cosmetics as well as bedding and linen, says:

Click below to read more. (The full article can be found on page 17)