Ramaphosa outlines economic stimulus and recovery plan

COVID-19 and the subsequent lockdown period has caused extensive damage to the economy, but there was good news and much needed relief for South Africa on Tuesday as President Cyril Ramaphosa announced a radical stimulus package including R500-billion worth of economic spending and loans.

The interventions and bulk of the funding will be used towards creating new jobs, subsidising wages, and propping up businesses to keep them afloat. The plan “will be implemented immediately to firstly ignite economic activity, secondly restore investor confidence, thirdly prevent further job losses and create new jobs, and fourthly to address some urgent challenges that affect the conditions faced by vulnerable groups among our people”, Ramaphosa said.

News from our Short Term Insurance Team
Now in our fifth week of lockdown, we’d like to remind you that FPM Short Term Insurance Brokers are here to assist our clients. We have successfully negotiated premium relief for our clients in excess of R500,000 during April. We encourage you to reach out to us if you would like to discuss ways to relieve some of the burden of insurance premiums without increasing your risk exposure.

News from our Employee Benefits Team
The FPM Employee Benefits Team has remained fully operational throughout lockdown. We realise our clients have received volumes of information from product providers, and we are here to assist you in understanding what those all mean. If you are worried about continuing your cover please always contact us first to see if there is a way to maintain your benefits.

Your Always-on Points of Contact
Feel free to contact any of the below people for support:

Employee Benefits:
Andrew Kennedy | 082 903 9736 | andrew@fpm.co.za

Risk & Wealth Management:
Michael Tongs | 083 675 0255 | michael@fpm.co.za

Short Term Insurance:
Rodney Caruana | 083 602 1858 | rodney@fpm.co.za

Relationships | Solutions
We may be physically far apart, but we’ve never felt closer to our colleagues, partners and customers. We truly are in this together. Whatever your question or problem, we’re available to anyone who needs our help. FPM are here to support you, your family and loved ones.

Stay safe. Stay positive. Test negative.

The FPM Team