Virus-induced lockdown will hurt small businesses most.
South Africa’s small businesses should be first in line for rent holidays and other relief measures amid the economic fallout from the global Covid-19 outbreak.
Estienne de Klerk, chairperson of SA Reit Associations and CEO of Growthpoint Properties SA. Image: Supplied Sapoa CEO Neil Gopal, however, has warned that large-scale non-payment of rentals could cause the collapse of shopping malls and severely impact property funds invested in retail property. De Klerk told property industry stakeholders on the conference call that SA Reit and Sapoa are liaising with both large national retailers and “the little ones” to ensure the retail property industry remains stable in the face of Covid-19 and the impact of the lockdown on all businesses.
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