There are no quick-fixes and we have to be realistic about our prospects, especially about the time it will take for our economy to recover, writes President CyrilRamaphosa in his weekly newsletter. Covid19inSA CoronavirusPandemic
More than 100 days after the outbreak of the coronavirus pandemic in South Africa and after two months of a nation-wide lockdown, our economy is in the throes of the anticipated fallout from this global crisis. The predictions of businesses shutting down and jobs being lost are materialising.Last week a number of companies announced plans to retrench staff.
In the past two years the business community has made commitments to invest in various businesses in our country. It is our hope that our business community and international investors will honour the investment commitments made in a number of forums such as the South Africa Investment Conference.Coronavirus has resulted in companies around the world re-evaluating their investment and expansion plans, and we must anticipate that some of these commitments may be scaled back and even cancelled.
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