Bidvest Group sets aside R400m towards employee relief initiatives

DURBAN – The Bidvest 
Group has set aside R400 million towards employee relief initiatives as a result of the coronavirus (Covid-19) pandemic. 
Bidvest said on Thursday that the money would be allocated through a newly formed special purpose vehicle, the Bidvest Group Covid-19 Employee Fund, to support employees that were financially distressed as a result of the lockdown. 
The services, trading and distribution group said the fund would be used to supplement the income needs of staff who had been unable to work during the lockdown. Chief executive Lindsay Ralphs said South Africa was going through an unprecedented crisis like the rest of the world and diversified companies like Bidvest were not immune to the economic fallout. 

Source: iol.co.za