Today's Labour News

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ramaphosa2BL Premium reports that President Cyril Ramaphosa, the premiers of KwaZulu-Natal and Gauteng and several cabinet ministers met with 90 CEOs and business and industry leaders on Tuesday.

He promised to help businesses rebuild after the violence and looting of last week and called on them to join investment “roadshows” overseas to promote the country. It is expected that the civil unrest will have a lasting effect on SA’s attractiveness as an investment destination. Attracting investment is one of the most important aims of Ramaphosa’s presidency and critical to economic growth and employment. Ramaphosa indicated that “an extensive social and economic relief package to support poor households and provide assistance to affected businesses and employees” would be announced in the next few days. The government would prioritise township and informal businesses, he said. Among other things, these measures would provide immediate assistance to poor households affected by the pandemic and the recent violence; help businesses to rebuild in the aftermath of looting and destruction of property; support sectors that were affected by restrictions on economic activity; and, contribute to the longer-term goal of increasing growth, boosting employment and eradicating poverty. “This package will include both the extension and repurposing of some of the Covid-19 relief measures and specific relief for sectors affected by the violence like retail and property. The measures should support the work under way to reopen stores, find alternative retail sites and rehabilitate shopping centres and malls,” he said. In his opening remarks Ramaphosa again emphasised that the violent ctions were those of a failed insurrection.

  • Read the full original of the report in the above regard by Carol Paton at BusinessLive
  • Read too, Ramaphosa tells business social and economic relief package being finalised, at Engineering News

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