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Survival of black businesses sabotaged by political unrest

Survival of black businesses sabotaged by political unrest

The National African Federated Chamber of Commerce and Industry (NAFCOC) condemns the political unrest that has raged across South Africa in the last few days.

“We are very saddened to see the destruction of businesses, property and threats to the safety of citizens in a number of communities,” said Refilwe Monageng, NAFCOC's Gauteng spokesperson.

“Black owned businesses, in particular, cannot afford this turmoil. Black entrepreneurs throughout South Africa have already been in crisis mode for well over a year following various forms of lockdown restrictions since March 2020,” added Monageng.

Government must provide further support

Following President Ramaphosa’s address on 27 June where he moved the country into alert level 4, there were indications that the government was looking at ways to further support businesses in distress. The details of this rescue package however have not yet been published.

“We appeal to the Government to expedite their efforts to provide comprehensive relief to our workers, employers and communities as soon as possible. There are many options available to the government including further support through the Unemployment Insurance Fund, tax relief and debt amnesty provisions. The livelihoods of potentially millions of South Africans is at stake,” said Monageng.

He concluded, “We also call on the Government to implement urgent interventions that will safeguard our business communities from being further impacted by the devastating protests and ongoing looting that has plagued the country over the last few days.”

NAFCOC is a Federated Chamber comprising over twenty industry specific sectors of the economy with approximately 2.3 million total membership. NAFCOCs’ main objective is to promote, unite and encourage the development of small business in South Africa in general and black entrepreneurs in particular, thereby drawing the majority from the peripheries of the consumption based economy to the frontlines of production based economic activity and decision making processes.

 

 

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