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BL Premium reports that in the latest sign of souring sentiment in boardrooms over a national lockdown that threatens cascading corporate failures, organised business has proposed that SA move quickly to open virtually the entire economy.
In a presentation on Friday at Nedlac, Business for SA (B4SA) called for a swift move to level 2, which would remove restrictions on virtually all sectors, including retail, construction, mining as well as domestic air travel and car rental services. The move could save more than half of the formal jobs that would be lost at level 4 — in which about 1.5-million workers returned with some industries running at 50% capacity — and limit the drop in GDP in 2020 to 10.3%. As part of business proposals, which B4SA’s Martin Kingston said had received a "receptive ear", companies promised to implement a set of practices to minimise transmission, including ensuring workplaces had protective gear, supporting employees with safe public transport and checking employees for symptoms. President Cyril Ramaphosa, who was at the Nedlac meeting, has promised another partial reopening of the economy, to level 3, at the end of the month. Meantime, some members of a committee tasked with advising health minister Zweli Mkhize on the health crisis are reportedly no longer backing government’s lockdown, saying it was not backed by science.
- Read the full original of the report in the above regard by Tiisetso Motsoeneng, Odwa Mjo and Bekezela Phakathi at BusinessLive (paywall access only)
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