SA lockdown: Solidarity Fund aims to ensure SMMEs stay afloat

SA lockdown: Solidarity Fund aims to ensure SMMEs stay afloat

A social investment organisation that's involved in the set up of the Solidarity Fund says the vehicle will go a long way in ensuring businesses stand a chance of surviving the coronavirus lockdown period. 

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Architecture buildings, Pexels, Photographer: Kaique Rocha,

The national lockdown comes into effect at midnight. It will in place for three weeks.

The President announced the fund on Monday, saying it will assist Small, Medium and Micro Enterprises (SMMEs) which, along with the overall economy are projected to take a significant knock.

The fund was kick-started with a combined R2 billion contribution by both the Rupert and Oppenheimer families. 

READ: SA lockdown: Here's how public transport will be affected

CEO of Tshikulu, Tracey Henry says it will help ease pressure in certain key areas.

"There is a tremendous amount of energies around the SMMEs sector. What are we going to do from an education perspective? How are we going to make sure that the school kids complete their curriculum this year? How do we care for the homeless? There is just an enormous amount going on, as a country, yes we are going to lockdown, but we are going to be very busy trying to address these issues."

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