President Cyril Ramaphosa yesterday announced a post-Covid economic reconstruction and recovery plan

“Message from our Chairperson and Vice-Chairperson

Coming off the back of a very difficult year, President Cyril Ramaphosa yesterday announced a post-Covid economic reconstruction and recovery plan, see attached.

“This economic shock is unprecedented in our country, and it will take an extraordinary effort to recover from it.”

For all of us, the President’s announcement supports SARIPA’s narrative that as restructuring professionals and business rescue and insolvency practitioners we all need to pull together to assist financially distressed individuals and corporates who require restructuring and insolvency assistance and where an intervention may be required.

Clearly, Government is focused on growth and jobs. In 2020, the pandemic has shrunk our already beleaguered economy by 8%, with 2 million people losing their jobs. More infrastructure projects are required, with the targeting of substantial growth initiatives, and not once-off plugs that will not contribute meaningfully towards a turnaround of the South African economy.

As we head into the end of the year, we should support the President in working towards turnaround mandates that have a successful outcome of promoting job preservation and the recovery of business.

Time to embrace this ray of positivity in what has been a difficult year … and help grow the economy in every way possible.

We wish all of you well and hope that you all remain positive and healthy.”

Pres. C Ramaphosa – S A Economic Reconstruction and Recovery Plan

Post courtesy of: SARIPA