For all updates in South Africa about the current Corona-virus/COVID-19 outbreak visit
sacoronavirus.co.za
OTHER FINANCIAL SUPPORT
Donations to help fight the spread of COVID-19
With South Africa lockdown in effect, donations from individuals,, businesses, sectors and schemes have been made in order to help fight the COVID-19 virus from different angles. Some business have also created a relief type benefit available to their clients in order to assist them financially.
Some of these donations, funds and relief measures are listed briefly below.
GOVERNMENT FUNDING AVAILABLE
Download Document Form to be completed for application of below funds
Registration can be done https://smmesa.gov.za/.
Debt Relief Finance Scheme
For small and medium businesses which are negatively affected, directly or indirectly, due to the Coronavirus pandemic.
See Infographic with more details Download Document
Business Growth/Resilience Facility
For small, medium and micro businesses geared to take advantage of supply opportunities resulting from the Coronavirus pandemic or shortage of goods in the local market.
See Infograph with more details Download Document
DONATIONS RECEIVED
The Nicky and Jonathan Oppenheimer - R1 billion
The South African Future Trust (SAFT) was formally established with the initial R1 billion. The money made available by the Oppenheimer family will be paid out directly to employees of small, medium and micro-sized businesses as interest-free loans. Limited to businesses which were “financially sustainable” before the coronavirus crisis. Businesses will be able to apply directly with their banks
Johann Rupert and Remgro Limited - R1 billion
The Rupert family's donation will be distributed as loans, Applicants for finance will be able to apply via www.businesspartners.co.za
Funds made available by Rupert might already be exhausted
Motsepe foundation - R1 billion
The funds will be used to purchase sanitisers, disinfectants, Personal Protective Equipment (PPE) and other equipment and resources which might be needed to deal with the pandemic, said Motsepe.
Naspers - R1.5 billion
R1 billion worth of personal protective equipment (PPE) and other medical supplies in China, R500 million, will go towards the Solidarity Response Fund.
Mary Oppenheimer and daughter -1 billion
R1 billion to the Solidarity Fund.
Dischem - R 2 million
R2 million to the Solidarity Fund
S.A BANKS PROVIDE PAYMENT RELIEFS AND PAYMENT HOLIDAY'S
Absa
Individual customers who owe Absa money will be invited to take an up to three-month repayment holiday, regardless of the kind of loan or how much money those customers earn. There will also be an option to reduce repayments instead. Individual clients will automatically qualify for the relief, but business and corporate clients are encouraged to contact the bank for case-by-case arrangements on their debt.
Standard Bank
Standard Bank is offering all of its personal banking customers, and business clients who earn less than R20 million a year, a three-month debt holiday until the end of June. Clients earning R7 500 or less and students will automatically receive the three-month holiday, while other banking clients can apply for the relief by contacting the bank.
FNB
First National Bank (FNB) will be offering debt repayment holidays of up to three months to its customers, but strict terms and conditions apply. Clients will need to contact the bank, and have a letter from their employer to show loss of income due to the novel coronavirus.
Nedbank
Nedbank is offering clients “individual solutions to cashflow challenges” due to the coronavirus, which includes halting debt repayments (or part thereof) for a “suitable” period. Alternatively, clients loan periods may be extended or they could get more credit to manage short term cashflow shortfalls.
Capitec
CapItec has not introduced any special initiatives to help consumers during the pandemic, but said it will instead be handling credit defaults on a case-by-case basis.
WesBank
WesBank is offering clients payment relief plans from the 1 April to the end of June. These include relief on financial services products such as its vehicle and asset financing, full maintenance leasing and vehicle stock funding.
INDUSTRY SPECIFIC SUPPORT AND OTHER RELIEVES FROM BUSINESSES
Spaza shop support scheme created
Launched by the Minister of small business development, Khumbudzo Ntshavheni - it will provide seed capital to shops owners to allowed them to continue to provide essential good.
IDC funding
The Industrial Development Corporation (IDC) has allocated billions in emergency funding to help manufacturers with working capital, as well as for companies in agriculture, tourism, energy, and vehicle components manufacturing.
Film industry
The National Film and Video Foundation (NFVF) has invited the industry to submit funding applications for script development, animation, and post-production projects. The NFVF will also provide a once-off cash injection of R500 000 to the ten companies currently commissioned by the organisation.
Farmers Relief
The Agricultural department has made R1.2 billion available for farmers to provide them with financial relief.
Musicians
The South African Music Performance Rights Association (SAMPRA) has brought forward the distribution of royalties scheduled for August 2020 to April 2020.
Minibus taxi owners
SA Taxi, which finances more than 32 000 minibus taxis, has announced a repayment holiday of a month (from April 1) for its clients.
Spaza shops
Government's new support scheme for spaza shops will give them funding to buy stock and assure bulk-buying discounts at approved wholesalers. But the spaza shops need to be registered with SARS, UIF, and with the CIPC.
Old Mutual – 50 million
Assist qualifying SME with interest-free loans will be granted to qualifying businesses and will be administered by the Old Mutual Masisizane Fund in partnership with Old Mutual Insure
OUTsurance suppliers
The insurance company has allocated money (part of R102 million in total) to some of its service providers, such as panel beaters and plumbers. The rand value of work allocated by OUTsurance must drop by more than 50% during the period April to June 2020
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