SCC to roll out N$700m stimulus package

JEMIMA BEUKES

WINDHOEK



The Social Security Commission (SSC) has announced a N$700 million stimulus package for nine sectors believed to be the hardest hit by the outbreak of Covid-19.

These sectors are construction, farming, entertainment, manufacturing and retail, transport, tourism and hospitality, and domestic work.

This was announced by the chief executive of the SSC, Milka Mungunda, who added that the door would not be shut to other sectors affected by the economic downturn. This follows finance minister Iipumbu Shiimi's announcement of an N$8.1 billion stimulus package which included a one-off N$750 grant for people who have lost their income as a result of the lockdown.

She added that this would include wage subsidies provided to employers in an attempt to keep them from retrenching their workers or cutting salaries by more than 30%.



Safety net

“Our objective is to provide a safety net. One of the conditions will be that you should not be earning more than N$50 000 per annum and must be registered with the SCC. You will benefit for three months of salary,” she said.

Mungunda added that the informal sector too would be catered for, adding that discussions were under way to see how that could be done.

However, potential beneficiaries must satisfy some conditions before they can be eligible for these benefits.

“We are trying to assist where we can. It may not be a perfect system.