Enterprises University of Pretoria helps businesses upskill
Helping businesses navigate through today’s challenging economic environment.
The Covid-19 pandemic has brought huge disruption and had a devastating impact on the SA economy, with dire consequences to businesses.
On March 27 2020, President Cyril Ramaphosa announced a national lockdown, which aimed to flatten the curve of the coronavirus. This meant that businesses had to close offices, and employees and consumers were asked to stay at home. The initial period was extended and the country has now been in lockdown for more than a third of this year.
With most businesses’ doors shut and all operations halted, profits and cash flows dropped at a high speed. Many businesses went into financial distress and thousands of jobs were lost. The government introduced a business turnaround & recovery strategy to businesses in distress to help them navigate through these unprecedented times.
On July 22 2020, deputy minister of the employment & labour department Boitumelo Moloi announced at a virtual press briefing that the Unemployment Insurance Fund (UIF) will provide R104m to Productivity SA (an entity of the department and the Business Turnaround and Recovery programme). The funds aim to support 6,000 small- and medium-sized enterprises to improve productivity, and to preserve and create jobs.
Read the full story on: Business Day.