The National Treasury is asking parliament to consider approving a bill seeking urgent additional funding allocations of more than R32bn to address the impact of unrest in July and the Covid-19 pandemic for the 2021/22 financial year.
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Sasria is the only non-life insurer that provides special risk cover to all individuals and businesses that own assets in SA. “Sasria indicated that it would require an equity injection in the event of claims amounting to R15bn.” A sum of R26.7bn is sought in line with President Cyril Ramaphosa's announcement to reintroduce the R350 social relief of distress grant until the end of March 2022. “The total allocation of R26.7bn will cater for people in distress and R500m for Sassa for system enhancements to improve application and payment processes, including the strengthened eligibility assessment system.”
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