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B&B’s Hotels and Restaurants will all experience a significant drop in revenue due to the impact of the slow down, travel bans and economic decline. This is an opportunity to provide the liquidity to the industry to enable the retention of jobs, and the transfer equity to staff. This will enable the industry to maintain key services and ready itself for the post COVID 19 season.
The African Wealth Fund bond will fund employee purchase of shares in existing businesses where employees are earning low wages, and the funds invested will be utilised to support working capital and staff salaries during periods of impact of COVID 19. The impact will be to assist the stabilization of key sectors and minimise loss of business, protecting and maintaining livelihoods and funding a portion of equity moving into the hands of staff, which will generate revenue to supplement future earnings.
The investment will serve to align interests between business owners and workers.