News Update: COVID – 19
Dear Members and Partners
The past few weeks have tested our resolve as a nation like it has rarely, if ever, been tested before. Unprecedented levels of panic have been created, produced by the uncertainty of COVID-19. Global financial markets are reeling, exacerbated by the simultaneous plunge in oil prices.
We know that crises and disasters cause short-term financial market volatility. In this instance that volatility is extreme and widespread. As we continue through this period of heightened uncertainty we are reminded of past events which have caused wide-spread panic in the financial markets viz the oil crisis in in the mid ‘70s , the period post the 9/11 attack and more recently, the recession of 2008.
Financial markets showed great resilience in recovering from these tumultuous events and that leads me to believe that we will emerge from this dark period stronger and more united in our efforts to ensure our economic future.
SACANCHAM fully supports the lock down measures that were announced by President Cyril Ramaphosa on 23 March 2020. President Ramaphosa’s decisive leadership and clearly articulated address has received overwhelming support from both the business and private sector and acknowledged internationally as providing a robust and constructive framework of measures which , if implemented, will buffer the nation against the spread of the virus and help to “flatten the curve’’
The comprehensive raft of financial interventions announced last night and clarified in ministerial briefings this morning will bring some much-needed relief to both the beleaguered business sector and the private sector in the short to medium term. The establishment of a Solidarity Fund which has already received pledges of R2,15bn is encouraging and bears testimony to the commitment of the corporate sector in supporting the President’s call for a collective effort to ensure that socio-economic instability following the decline in financial markets is controlled during these uncertain times.
The news cycle is currently very dynamic and during this time, it is important to remain informed through the consumption of information on reliable platforms. While these are very uncertain times, it is up to each of us to empower ourselves with information and advice that does not fuel the panic nor run into the themes of the fake news cycle.
To ensure that you are well informed and empowered, please visit the following website: www.coronavirus.datafree.co.za
Note: no data or airtime required to access this site
Whatsapp Support Line : 0600 123 456
Emergency Hotline Number: 0800 029 999
As we navigate our way through these uncertain times we are reminded of President Cyril Ramaphosa’s words below ending his address on Monday night:
“In the days, weeks and months ahead our resolve, our resourcefulness and our unity as a nation will be tested as never before.
I call on all of us, one and all, to play our part.
To be courageous, to be patient, and above all, to show compassion.
Let us never despair.
For we are a nation at one, and we will surely prevail.”
Be safe and play your role in ensuring that we do prevail…..
Warm regards
Mike Morgan
CEO, SACANCHAM
