Takealot takes $20m hit in 3-week coronavirus shutdown
JOHANNESBURG – South Africa’s ecommerce giant Takealot expects the nationwide lockdown to blow a $20 million hole in its revenues, the chief executive said on Tuesday, but is hoping the government will relax rules on online sales to limit the damage.
President Cyril Ramaphosa announced a three-week lockdown on March 26, extending it by a further two weeks last Thursday, in a bid to contain the spread of COVID-19 in the country which has already seen 2,272 people infected and 27 deaths.
The Takealot business is set to take a hit of around 350 million rand ($20 million) in revenues, its chief executive Kim Reid told Reuters in an interview.
Source: iol.co.za
