EDITORIAL & SALES Acting Editor Jana Jacobs Deputy Editor Jaco Visser Journalists and Contributors Simon Brown, Lucas de Lange, Johan Fourie, Moxima Gama, Mariam Isa, Glenneis Kriel, Schalk Louw, David McKay, Andile Ntingi, Timothy Rangongo, Peet Serfontein, Melusi Tshabalala, Amanda Visser, Glenda Williams Sub-Editor Katrien Smit Editorial Assistant Thato Marolen Layout Artists David Kyslinger, Beku Mbotoli, Nadine Smith Advertising Paul Goddard 082 650 9231/paul@ fivetwelve.co.za Clive Kotze 082 335 4957/ clive@mediamatic.co.za 082 882 7375 Sales Executive Tanya Finch 082 961 9429/tanya@ fivetwelve.co.za Publisher Sandra Ladas sandra. ladas@newmedia.co.za General Manager Dev Naidoo Production Angela Silver angela.silver@ newmedia.co.za
Published by New Media, a division of Media24 (Pty) Ltd Johannesburg Office: Ground floor, Media Park, 69 Kingsway Avenue, Auckland Park, 2092 Postal Address: PO Box 784698, Sandton, Johannesburg, 2146 Tel: +27 (0)11 713 9601 Head Office: New Media House, 19 Bree Street, Cape Town, 8001 Postal Address: PO Box 440, Green Point, Cape Town, 8051 Tel: +27 (0)21 417 1111 Fax: +27 (0)21 417 1112 Email: newmedia@newmedia.co.za Printed by Novus Print Linbro Park and Distributed by On The Dot Website: http://www.fin24.com/finweek Overseas Subscribers: +27 21 405 1905/7
ENQUIRIES SUBSCRIBERS 087-353-1305 subs@finweek.co.za
Fax 0864-575-918
SHOPS 0861-888-989 assistance@onthedot.co.za
Share your thoughts with us on: @finweek
finweek
finweekmagazine
FINWEEK SUBSCRIBES TO THE SOUTH AFRICAN PRESS CODE WHICH COMMITS US TO JOURNALISM THAT IS TRUE, ACCURATE, FAIR AND BALANCED. IF YOU THINK WE ARE NOT COMPLYING WITH THE CODE, CONTACT THE PRESS OMBUDSMAN AT 011-484-3612 OR ombudsman@presscouncil.org.za © FINWEEK 2011 ALL RIGHTS RESERVED. TO INQUIRE ABOUT PERMISSION TO REPRODUCE MATERIAL CALL OUR ARCHIVE AT 021-406-3232.
10
finweek 2 April 2020
“OUR FUNDAMENTAL TASK AT THIS MOMENT IS TO CONTAIN THE SPREAD OF THE DISEASE.” – President Cyril Ramaphosa announced the South African President Cyril government’s imposition of a nationwide lockdown for 21 days Ramaphosa from midnight on 26 March to try to contain the Covid-19 outbreak in the country. The lockdown forces most businesses to close, aside from essential services in safety and security, food and distribution, telecommunications and electricity. At the time of his address on 23 March, the country’s health ministry had reported 402 confirmed cases. Ramaphosa said the aim of the lockdown was to slow the spread of Covid-19 in SA and ease the pressure on the healthcare system and he urged South Africans to stay at home during this time.
“This, we hope, will relieve cash flow constraints currently caused by the Covid-19 outbreak.” – Lungisa Fuzile, Standard Bank South Africa’s chief executive, announced interim debt repayment measures to help segments of its customer base navigate their financial commitments as the government stepped up efforts to contain the spread of Covid-19. The bank offers small business customers with an annual turnover of less than R20m a payment holiday from 1 April to 30 June if they are in good standing with the bank. Those customers with a student loan will also be exempted from repaying debt over the three-month period and in addition, they will not be charged any fees or interest. Nedbank said in a statement it will support clients, including deferring payments (or part thereof) for a suitable period, extending existing loan periods or extending additional credit to manage short-term cash flow shortfalls. FNB said it remains open for business to assist SMEs that qualify for credit to stabilise their cash flow and consumers who may want to cover unexpected expenses.
“It’s not all about the titles, how much money you would have made or what you would have gotten from it. It’s about having some fun, being able to create things.” – Sol Kerzner, SA hospitality magnate, died on 21 March aged 84 at his home in the Kerzner Estate at Leeukoppie near Cape Town, surrounded by his family, said the Southern Sun Group. Kerzner founded Southern Sun and Sun International. Some of his projects included The Beverly Hills Hotel in Umhlanga Rocks (the first five-star hotel in SA), the creation of Sun City, The Atlantis resorts across the world and launches of the One&Only Resorts, which operate various hotels in the Bahamas, Mexico, Mauritius, Maldives and Dubai. www.fin24.com/finweek
Photo: Gallo/Getty Images
in brief
>> Trend: Online payroll solution conquers the world p.12 >> Listed property: Sector battles shrinking rentals p.13 >> Mining: How will miners fare in the face of Covid-19? p.14
