Covid-19 Relief Schemes

© Copyright 2020 by Sage under the Copyright Law of the Republic of South Africa.

We have summarised some of the Covid19 aid packages, relief initiatives and non-financial support currently available to businesses in South Africa as announced in the media.

*Please note Although due care was exercised, this is not an exhaustive list. As this information is collated from media reports and other available resources from the government, the onus is on you to seek professional advice, and we may not be held liable for the inaccuracy of the information contained here. We will work to update this list as more measures are announced and become available to the public.

Covid-19 SME Loan Scheme Scheme administered through banks for non-government entities (excluding listed entities, capital market funders and funding instruments).

South African Future Trust (Oppenheimer)

Support SMMEs through a 5 year interest free loan to entities repayable at the end of the term (750 weekly wage per permanent employee for 15 weeks = R11 250 per employee).

Debt Relief Finance Scheme by Department of Small Business

An SMME Loan funding @ Prime -5%. Details on https://smmesa.gov.za/ Email: debtrelief@seda.org.za

Business Growth/ Resilience Facility by Department of Small Business Development

Relief for existing businesses geared to take advantage of supply opportunities resulting from Covid-19 or shortage of goods in local market, especially with regard to medical supplies and critical non-food essentials (Loan funding @ Prime -5%). Details on https://smmesa.gov.za/ Email: debtrelief@seda.org.za

Spaza Shop Grant Funding by Department of Small Business in collaboration with SEFA

Grant for sole props operating spaza shops of R10 000 (with a possible R5 000 being made available as a second phase) for purchasing a basket of essential goods at a discounted price for a period of three months from participating wholesalers.

Tourism Relief Funding by Department of Tourism

Funding available to assist SMEs in the tourism and hospitality sector, who are under particular stress due to the new travel restrictions. Contact Ms Hlengiwe Nhlabathi hnhlabathi@tourism.gov.za

IDC Covid-19 Essential Supplies Intervention by Industrial Development Corporation

A short term revolving credit facility @ Prime +1% pa for essential supplies to companies with mnfr track record, experience to import at scale, accredited supplier with contract or purchase order or corporate guarantee. Contactcallcentre@idc.co.za; or contact Mr Gerrit Claassen at 011 269 3482; or Mr Rishel at 011 269 3261 for more info.

MCEP Covid-19 Programme by Industrial Development Corporation

Relief for companies that manufacture and provide essential supplies. Submit documents to callcentre@idc.co.za

Find out more:www.sage.com/en-za/coronavirus

Covid-19 Temporary Employer/Employee Relief Scheme (TERS) by National Disaster Benefit and UIF

Replacement of lost income to employees during temporary closure of business and for employees in quarantine. Contact Covid19ters@labour.gov.za

COVID-19 Black Business Fund by National Empowerment Fund

Submit documents and application form to covidfund@nefcorp.co.za

Covid-19 Business Rescue Assistance (COBRA) by Consortium: Schindlers Attorneys, IQ Business and Engaged

Expert advice and knowledge hub for SMMEs. Contact www.cobra.org.za

Training Layoff Scheme by CCMA and SETA

Training allowance up to 50% of wage with max of R6 239,00 pm. Contact CCMA to be approached.

National Disaster Benefit by Department of Labour

R3 500 pm to employees for the duration of the shutdown or three months, whichever the lesser. Employers must complete the UI 19 Form stating the last date of termination and the reason thereof. The forms can be submitted through the following methods:1) Online at www.ufiling.co.za. for illness benefits2) Email to the nearest UIF processing Centre for illness, reduced work

time or death benefits.

Compensation for Occupation Injuries and Diseases Act by Department of Labour

75% of the employee’s earnings up to a maximum prescribed by the Minister for a maximum of 30 days on a diagnosis linked to: COVID-19 related per WHO, Official trip and travel history to high risk COVID-19 countries and areas and Work exposure. Documentation must be submitted to the Compensation Commissioner covid19claims@labour.gov.za or online through the CompEasy system or the Mutual Association Claims systems.

Covid-19 Tax relief by SARS (ETI)

More info available at www.treasury.gov.za or www.sars.gov.zaEffective 1 April 2020.

*Disclaimer: We may not be liable if not properly interpreted.

© Copyright 2020 by Sage under the Copyright Law of the Republic of South Africa.