SEDCO FREEZES RENT FOR TENANTS

MBABANE – To cushion the impact of coronavirus on small businesses, SEDCO has deferred rental payments for its tenants.

SEDCO is the Small Enterprises Development Company. As a non-profit making organisation, SEDCO, in a statement, stressed that it was unable to offer support in the form of cash but found it fitting to offer assistance to those who would be directly affected by this lockdown. The measures are in response to the 20-day partial lockdown enforced by the country on March 27 to curtail the spread of the novel coronavirus.

Deferment

“The measures include the deferment of monthly rentals for all SEDCO incubation tenants for the months of April and May 2020. “As a company whose core mandate centres around the development of Small and Medium Enterprises (SMEs) by devising solutions that help to drive the economy of the Kingdom, the recent outbreak of the coronavirus, known as COVID-19, presents multiple challenges for businesses, particularly by raising concerns around its long-term effects on investment, cash flows, staff welfare, sustenance and the overall future of local businesses and SMEs.

Supporting small businesses through this period remains a top priority for the Small Enterprises Development Company (SEDCO),” reads a statement from SEDCO Board Chairperson Nelsiwe Mabuza. In the statement, Mabuza further announced plans to offer free business advisory consultations to ensure business continuity to the SMEs for the month of April, where relevant. It also plans to lobby financial institutions and other statutory.

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