Covid-19: How are South African companies responding to the crisis? 5 May 2020

The Covid-19 crisis has resulted in a new and very complex situation around the world. This is without doubt going to be a marathon – a stop-start marathon, in all likelihood – not a sprint. And there is no playbook to guide us through this. We have to learn as we go along. South Africa entered this pandemic and the harsh consequences of a lockdown in a very weak situation: an economy in recession; unemployment at 10 million and rising; a fiscal crisis compounded by our descent into junk status. The challenge is how to look after all South Africans, especially the poor, while minimising infection rates, keeping firms alive, and saving as many jobs as possible.

…Covid-19 has created unprecedented challenges and uncertainty, which makes it hard to think about economic recovery. However, it remains true, perhaps now more than ever, that South Africa needs broader, deeper reforms to build a faster growing, more inclusive economy consisting of many, competitive, job creating firms and enabled by a capable smart state committed to promote and serve the national interest and all South Africans.