South African President Cyril Ramaphosa has announced a huge stimulus package for Africa’s biggest economy in a drive to save jobs.
The package is under phase two of the economic strategy. Below are the key take aways from the address;
R500 Billion stimulus package
R20 Billion Covid-19 (testing, PPE etc).
R20 Billion support for Municipalities
Additional grants for next 6 months
R350 for anyone unemployed not on UIF.
R200 Billion Business loan facility.
Businesses with R300 Mill turnover and less to qualify.
PAYE deferment now 35%
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