A group of business leaders will be offering support to South African companies that are in financial distress as a result of COVID-19. The group of highly skilled individuals have come together to reduce the impact of COVID-19 on an economy.
The COVID Business Rescue Assistance (Cobra) initiative can be accessed for free and offers structured businesses access to turnaround specialists who can help restructure their organizations and provide access to extra financing that may be necessary to get them back on track.
The business leaders have years of experience in the fields of law, accounting, technology and business turnaround. “We predicted that the economic fallout of the epidemic would be catastrophic for many small, medium and Mirco enterprises, as well as for bigger businesses,” said Adam Craker, CEO at Cobra.
He added that there was an urgent need for a form of an ecosystem to enable businesses to sustain themselves through the economic crisis. Companies can subscribe to the free one-hour webinar held every morning to keep up to speed with market developments and learn about resources local businesses can tap into.
