Tag: COVID-19

The times we are currently living in are unprecedented. Covid-19 has once again highlighted the reasons why governance - good governance - is a critical function in a democratic country.

The global outbreak of Coronavirus and the subsequent national lockdown announced by President Ramaphosa in March 2020 have undoubtedly impacted many companies.

If you haven’t already dusted off the business interruption, liability and event cancellation policies you have underwritten, or placed for an insured, and checked for coronavirus coverage, now is the time to do so.  

The scale of the national COVID-19 lockdown is unprecedented in living memory. The repercussions – personal, professional, national and international – will reverberate for years to come. As entrepreneurs, we need to be making the right decisions for right now to ensure that our businesses and our people’s livelihoods do not become another casualty of the virus.

The COVID-19 pandemic has changed our world with devastating speed and there is no doubt that small businesses will be the hardest hit. Although we are hoping for everything to get back to normal and finally get to put all the anxiety, fear, and tragedy of the COVID-19 pandemic behind us, no one knows how severe the economy will get impacted or how long the recovery process will take.

The circular released on the 10th April 2020 by the Council for Medical Schemes (CMS) entitled 'COVID-19 Medical Schemes Industry Guidelines' outlines the relief measures which schemes may offer their members – individuals and employer groups – detailing what they can and can’t do to alleviate the economic suffering during this pandemic and lockdown period.

The next few weeks (and beyond) will be a testing time particularly for smaller businesses. Best to see it as a stress test, a way to make your business stronger.

If we, for a moment, liken our clients to sailing ships at sea, then it could be said that the current crisis has resulted in a state of no wind: business is in the doldrums. Every breath of wind needs to be harnessed so that we can help businesses move forward. We need to ensure that businesses who emerge from this are wiser, leaner and more effective.

The global COVID-19 pandemic has made its presence felt in South African retail and consumer-focused businesses, especially in tourism and hospitality, but the full impact on earnings, cash flow and employment will last far longer than the initial lockdown.

On 9 April 2020, the Government issued Notice 43224, Regulation 459, effective as of 9 April 2020 which provides directions regarding the operation of Essential Service Call Centres during the Lockdown Period.