Investec warns of social harm if South African lockdown endures
JOHANNESBURG – It’s not only the economy at stake. South African society is also at risk if the government extends a five-week lockdown without allowing more industries to get back to work.
That’s the view of Investec Group Chief Executive Officer Fani Titi and the head of the company’s South African banking unit, Richard Wainwright, who is also the chairman of local industry body, the Banking Association South Africa.
“We don’t have the capacity to absorb the kind of job losses that could result,” Titi said via a video conference call. “We would see significant damage to the economy, but also to the social fabric.”
Source: iol.co.za
