South Africa urged to end lockdown soon as economy bleeds jobs
JOHANNESBURG – South Africa needs to end a lockdown within weeks or Africa’s most industrialized economy could haemorrhage as many as four million jobs and contract by 16% this year, the nation’s main business group said.
The country lacks the financial resources to withstand the extended closure of companies, said Martin Kingston, head of the economic work group at Business for South Africa, which represents the country’s biggest business organizations. Safety protocols must be put in place and commerce must restart, he said in an interview.
The government compelled most businesses to shut on March 27 in a bid to curb the spread of the coronavirus. Restrictions were marginally eased on May 1, with a move to so-called Level 4 from 5, and key industries such as mining are only operating at partial capacity. Borders have been closed except for limited cargo and the number of people queuing for food parcels is growing.
Source: iol.co.za
