Every single day, more and more people are falling ill. The economy is taking further strain as businesses face overwhelming obstacles during these trying times.
Business for South Africa (B4SA) now calls on businesses and South Africans to unite and continue taking preventative action to curb the spread of COVID-19.
In a statement issued by the business lobby group, B4SA expects the national COVID-19 infection rate to peak during August 2020, with daily mortalities peaking by late-August or early September.
This will see more people get sick, while the health sector will take even more strain in the fight against COVID-19. However, these are not the only negative implications of the pandemic.
B4SA emphasises that a significant number of businesses are already in distress. However, it expects approximately a further 1.5 million job losses by the end of 2020.
Martin Kingston, head of the economic workgroup for B4SA, says against B4SA’s latest modelling scenarios, the group expects it will take a minimum of two years for the economy to recover to pre-COVID-19 levels.
“We also expect the infection rate to have a long tail-off and for the virus to remain a reality of daily life for up to two more years.”
But there is a glimmer of hope. B4SA believes leadership and workplace culture can be powerful factors in ensuring employee and customer protection.
“As B4SA we call on South African business leaders to create a work environment that builds trust, confidence and inspires mutual care for employees, customers and communities,” it emphasises.
With the number of COVID-19 cases rising dramatically, be sure to play your role in curbing the spread of COVID-19.
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