With tourists absent due to the virus and school visits, a major source of income, not happening because of restrictions, a number of other cultural institutions are suffering a similar fate. They include the Fugard Theatre in Cape Town, the Johannesburg Art Gallery, and Mandela’s house in the township of Soweto. South Africa’s 200 billion rand ($14 billion) loan-guarantee scheme, aimed to encourage banks to lend more and on favourable terms to businesses affected by the coronavirus crisis, has not helped as much as was hoped. Many distressed companies are reluctant to assume more liabilities.
SOURCE: SKIFT
More Stories
African and Global Firms Contribute towards Harris’ Empowerment Fund
The Main Winners in Nigeria’s Botched Currency Overhaul are Two Chinese-owned Fintech Apps
The Growing Opportunities that African Pharmaceuticals Present
Africa’s Extraction and Export of Raw Materials is Rising
Accra’s Plan on a Debt-free Life
Mauto is Preparing Benin—and Africa—for an e-bike Ride
Rwanda’s Long History of Mining
Disease Stops Trade in East Africa’s Border Towns
A Marketplace for Medical Equipment in Addis
South African Rate Hike Exceeds All Expectations
At the Coalface of the Green Revolution, but Earning Crumbs
Harris Stresses that U.S. Interests in African Nations Extends beyond Competing with China