President Cyril Ramaphosa launched the fund on Tuesday, at a time when Covid-19 national lockdown regulations have ravaged the usually lucrative industry.
Global life insurers are taking steps to curb payouts stemming from the coronavirus pandemic, including long-term health consequences that are not fully understood, industry sources told Reuters.
New Automative Industry Development Centre (AIDC) Eastern Cape CEO Thabo Shenxane wants the industry to play a leading role by, among other things, advising the provincial government on automotive sector policy prioritisation.
SA’s glass packaging industry could lose a further R1.5bn in sales if the latest ban on alcohol sales continues for long, the CEO of glass bottle maker Consol said on Monday.
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