The fund created by the Rupert family to assist small and medium-size businesses in financial distress as a result of Covid-19 has been temporarily shut down as a result of a huge oversubscription from desperate SMMEs.

Applications to the fund escalated to a huge R2.8bn in the space of a couple of days, much more than the R1bn made available by the family. The thousands of applications the separate initiatives of the Rupert and Oppenheimer families have received in just a few days to assist small and medium-size businesses reveals the extent of the trauma being experienced during the lockdown...

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