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SACSoWACH is pleased and welcomes President Ramaphosa’s leadership in the social relief package announced on 21 April 2020. Here is a summary of this historic R500 billion stimulus package for the economy

R130 billion in the current budget would have to be re-allocated, the rest will come from other sources like the IMF, World Bank, African Development Bank and BRICS Bank. 

 

On hunger – millions of South Africans are struggling to survive. Poverty and food insecurity have deepened dramatically. There will be a temporary Coronavirus Grant. ‬R50billion will go directly to the most vulnerable.
 
Temporary six-month Coronavirus grant. Child support grants get an extra R300 from May. June-October extra R500. All other grant beneficiaries extra R250 a month for 6 months.
 
‪A special Covid-19 distress grant of R350 will be paid to individuals who are unemployed and who don’t receive any other grants. ‬
 
250 000 food parcels will be distributed. 
 
R100 billion will go towards protecting and creating jobs.
 
R2 billion has been made available to assist SMES and Spaza Shops.
 
R200 billion loan guarantee scheme in partnership with major local banks to assist businesses with operational costs.
 
Various tax breaks – Businesses with turnover of more than R100 million per year, can apply directly with SARS for deferral of tax payments. 
 
Phased reopening of the economy. A risk adjusted approach to return of economy, balancing the spread of the virus with the need to get people back to work. 


On Thursday he will address the nation on lockdown measures. ‘This crisis will not last forever.’ 
 

“Even as we find ourselves at the moment of great peril and danger, we look ahead to a better future. I have faith in strength and resilience of ordinary South Africans who have proven they will rise. We shall recover, we shall overcome, we shall prosper.”

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