28.3.2020 07:40 am
The decision by Moody’s could not have come at a worse time, says Treasury, after S&P and Fitch downgraded SA to junk in 2017 already.
After South Africa's sovereign credit rating was downgraded to subinvestment grade, or "junk status", by Moody's - the last ratings agency to do so - on Friday, government reacted with dismay.
The construction industry is very labour intensive and the lockdown is going to result in hundreds of job losses.
If found guilty, he will pay a R1 million fine or up to 10% of his annual business turnover. There is also a possibility of imprisonment for up to a year.
The #ImStaying Entrepreneur Movement has been set up to activate and empower entrepreneurs to build sustainable and profitable businesses.
The board will make an announcement in due course on an interim successor during the business rescue process.
The store also extended trading hours on Wednesday and Thursday to allow customers to buy what they need before the lockdown.
Essential service businesses required to apply for trading certificate during lockdown – Ebrahim Patel
He says such businesses were required to apply to the Companies and Intellectual Property Commission’s BizPortal website to obtain a certificate that allows them to continue trading.
While nobody can be certain just how much of a knock the economy will take, there is no doubt that it will be significant.
The police minister has warned the public that if the nation does not adhere to these prescriptions, we could be heading for a state of emergency, which will be even worse.
Current tenants meant to move out by 1 April can be offered a one-month extension on their lease so that they can remain in place during the lockdown, among other solutions.
Old Mutual employees will be able to contribute to relief efforts through the staff volunteer programme.
Employees will get a minimum wage of R3,500 a month for up to three months.
The government bailout to business might not make an impact in alleviating the plight of SMMEs, one expert said.
The department of small business development has tried to reassure the public that all businesses are being considered, but not everyone is convinced.
People planning to order KFC or pizza while binge-watching their favourite shows for the next three weeks will seemingly need a plan B.