As South Africa comes to grips responding to the coronavirus pandemic, it is business unusual with people’s lives being disrupted in unprecedented ways, a debt counselling executive says small- and medium- businesses should prepare for tough times ahead.
CAPE TOWN - As South Africa comes to grips responding to the coronavirus pandemic, it is business unusual with people’s lives being disrupted in unprecedented ways, a debt counselling executive says small-and medium-businesses should prepare for tough times ahead.
Sager says many governments, especially those in Europe, have already announced plans to offer mortgage-payment holidays of up to three months. So far, similar initiatives have not yet been put in place in South Africa. Since the President Cyril Ramaphosa speech on Sunday declaring a state of national disaster, government communication has by-and-large been clear and calm, treading a careful line between not downplaying the seriousness of the crisis, while not creating panic.
According to Sager, the different reactions, though, do underline the fact that these are very uncertain times and uncertainty makes people feel vulnerable and act in ways they wouldn’t normally.
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