Heartening news for restaurants which have closed down or face this dilemma as a Covid Third Wave threatens is that the Rupert Family Fund and Remgro will make R100 million available to ‘struggling restaurants’, reports Fin24.

The monies have been made available in partnership with FEDHASA, the  Hospitality industry association. The R100 million is money left over from Rupert’s R1 billion Sukuma Fund, which Johann Rupert pledged at the start of the Covid-19 Lockdown in March 2020.

The Fund will support restaurants in providing relief with rentals, and to boost their working capital. The specifications for receiving funding support are as follows:

#.  Membership of FEDHASA

#.  Independent ownership

#.  Financially solvent

#.  Regulation Compliant

#.  Viable future

Restaurants can apply for unsecured, interest-bearing loans of between R250000 – R1 million,  repayable over five years, the first year being interest-free.

FEDHASA estimates that 30% of restaurants have closed down during Lockdown. The Association says many ‘are still struggling to recover, and are on the brink of closure’.

Chris von Ulmenstein, WhaleTales Blog: www.whaletalesblog.com www.chrisvonulmenstein.com/blog Tel +27 082 55 11 323 Twitter:@Ulmenstein Facebook: Chris von Ulmenstein, My Cape Town Guide/Mein Kapstadt Guide Instagram: @Chrissy_Ulmenstein @MyCapeTownGuide