Fund to assist with SA’s recovery from Covid-19
The fund would focus on supporting businesses in health-care infrastructure and services, domestic manufacturing, agro-processing and food security (excluding primary agriculture), water and sanitation, and information communications and technology sectors.
It said the fund would deploy its resources to qualifying businesses in the form of equity, mezzanine and/or debt financing.
Mesh Pillay, chief executive of YW Capital, said: “Qualifying businesses must be aligned to the government’s socio-economic objectives and be in a position to contribute to the recovery of the South African economy. We invite the private sector to collaborate on this initiative as we strive for the recovery of economic losses and the sustainability of our country’s employment.”
YW said although the launch of the fund had been initiated because of the Civid-19 crisis, it planned to grow the fund into a sustained source of finance for businesses positioned to deliver on the government’s social and economic objectives over the next five years.
Interested businesses can submit their applications via https://ywcapitalbusinessacceleration.splashthat.com.
Businesses would be considered only if they were established, stable and operating before the lockdown, and if they were tax compliant.
Financial essentials for the Covid-19 crisis
The world has been in a state of upheaval since the outbreak of the novel coronavirus, causing unprecedented market volatility and panic-buying among consumers.
Despite our intelligence and past learnings, it’s challenging to maintain composure and make rational decisions during such a crisis. Here are five financial planning essentials to guide you through this period.