During the month of August, the Association hosted an online panel discussion on the economic impact of the recent unrest in KZN. The panel featured the following representatives:

Mrs Melanie Veness: Chief Executive Officer at Pietermaritzburg & Midlands Chamber of Business

Mr Kaemete Tsotetsi: Chief Director – Economic Research and Coordination for Department of Trade and Industry

Dr Ajiv Maharaj: Economic Development & Investment Promotion. Responsible for Research & Strategy:  eThekwini Municipality. Dr. Ajiv Maharaj represented Durban Chamber of Commerce and Industry

Mr Mike Patterson: Executive Manager for Zululand Chamber of Business Foundation (ZCBF)

The collective forecast was optimistic as the general consensus was that in the wake of one of the darkest moments in our Province’s history, there was reason to be hopeful that a positive outcome could be achieved.

Encouraging interventions from government highlighted were:

• Proposals to extend Loan Guarantee Scheme.
• 9 billion has been re-prioritized from other programmes to provide financial and non-financial support to all affected businesses.
• Details were being worked out on how to extend support to the affected uninsured businesses.
• SASRIA requested to fast-track processing and payment of insurance claims and to similarly cover affected SMMEs.
• Department of Employment and Labour launched a Temporary Financial Relief Scheme for all affected workers.
• Re-introduction of COVID-19 TERS relief for businesses and Social Relief Grant for the unemployed.
• Recommitment and implementation of the Economic Reconstruction and Recovery Plan.

It was noted that there were also non-financial related interventions that would have an impact:

• Vaccine roll-out ramped up with a number of new sites increased across provinces.
• Companies can report potential, eminent and actual looting taking place at their area/establishment.
• Engagements with social partners and affected businesses towards regaining investor confidence, providing necessary security to ensure no further supply disruptions on critical infrastructure and fixing of damaged infrastructure.
• Mobile buses deployed to assist with UIF and a “Zero Rate” online platform for UIF benefits applications.

The panellists also spoke highly of the coming together of communities and that initiatives implemented by various municipalities would go a long way in helping the Province to recover. They emphasised the importance of lessons learnt and the need to be better prepared to prevent recurrence. It was also emphasised that the manner in which government responds will influence investor confidence.

Ernest Roper | Membership Services Manager