As part of his ongoing response to the COVID-19, President Ramaphosa announced on April 21 that the South African Government was launching a further R500 billion (approximately $26.3 billion) social and economic stimulus package – the biggest ever once-off stimulus injection in South African history. The President described this giant stimulus as constituting the second
COVID-19: Business Rescue, a Viable Option for South African Companies
As South African businesses are left reeling in the wake of the escalating coronavirus crisis and the imposition of a 35-day lockdown , we look at the implications for South African companies and how those in financial difficulty may find some relief under the Companies Act 71 of 2008 (Companies Act).
South Africa’s Economic Response to the Covid-19 Pandemic (Part II)
On 6 April, 2020, we published an article outlining South Africa’s initial economic response in support of its already ailing economy against the adverse economic effects of the coronavirus pandemic. Two weeks have passed since we first published that article, and we think it is prudent to provide this follow-up, outlining the latest developments in…
Audio and Key Takeaways Re: Covington’s Ability to Help Respond to the COVID-19 Pandemic in Africa
As a complement to our March 26, 2020 blog “Covington’s Ability to Help Respond to the COVID-19 Pandemic in Africa,” you may access the audio of our briefing call here.
Key takeaways from the briefing can be accessed here.
With African governments increasingly taking strong actions to impede the spread of the COVID-19 virus,
South Africa’s Economic Response to the Covid-19 Pandemic
South Africa did not record the first case of Covid-19 in Africa, but it now has the highest number of reported cases on the continent.
Having had the benefit of watching governments respond to the outbreak of the pandemic in Asia, Europe and the United States, President Cyril Ramaphosa on March 15, 2020, with only…
Covington’s Ability to Help Respond to the COVID-19 Pandemic in Africa
With African governments increasingly taking strong actions to impede the spread of the COVID-19 virus – including in a number of jurisdictions, imposing full lockdowns – we are able to provide assistance to our clients, financial institutions, developmental finance organizations, companies and organizations on the continent. We are available to get on a call at…