Covid FALLOUT
Society’s most vulnerable hit the hardest by lockdown, says Capitec
Analysis of data available to the bank shows the low-income earners, contract and casual staff have been the hardest hit from Covid-19-related recession
01 October 2020 - 00:08
Capitec’s results for the six months ending August paints a picture of a recovering SA economy but undoubtedly shows the country’s most vulnerable bearing the brunt of the lockdown and associated economic fallout.
“We have seen the lower-income customers taking the biggest hit on income levels, as well as casual and contract workers,” says Capitec CEO Gerrie Fourie, adding that there has been a sharp reduction in remuneration for overtime and in bonuses...
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