NPOs are under financial stress, says expert
Updated | By Nomfundo Ngcobo
An expert on social impact says the financial strain on nonprofit organisations due to the pandemic will have a ripple effect on our economy.
Dr Armand Bam says along with the ups and downs of the global and local markets, the socio-economic inclusion of many cities in our economy will come under threat.
He says COVID-19 will further contribute to rapid contraction in employment opportunities. The nonprofit sector won't be immune to this.
READ: Plans to increase staff in healthcare sector
"Livelihoods of nonprofit organisations are under threat due to the lack of finances they are able to secure during the pandemic.
"The inability to do traditional fundraising has really affected how these organisations are able to sustain themselves, paying staff, covering their bills and being able to deliver services to their clients," says Bam.
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