The staff at the Faculty of Economic and Management Sciences at the North-West University (NWU) have opened their hearts to a family who lost nearly all their possessions in a devastating house fire in Mahikeng.

The Covid-19 pandemic has disrupted all components of the economy – all sectors in terms of demand and supply, employment, investment, growth, confidence and exports.

The world of work after the Covid-19 pandemic will differ from the one we are used to. This is the opinion of Prof Bennie Linde, a professor in labour relations at the North-West University’s (NWU’s) School for Industrial Psychology and Human Resource Management in the Faculty of Economic and Management Sciences.

The Monetary Policy Committee (MPC) cut the repo rate by another 50 basis points on 21 May. Prof Raymond Parsons, well-known economist and academic from the NWU Business School, says this underscores the South African Reserve Bank’s (SARB) resolve to provide the necessary monetary support in light of the economic impact of the prolonged Covid-19 lockdown.

The Covid-19 virus is causing unprecedented uncertainty on a global scale. An economist from the North-West University (NWU) says the impact of the pandemic is expected to be greater than that of the Spanish flu of a century ago.

The global Covid-19 pandemic has seen unprecedented economic disruptions during the last few months.

According to North-West University (NWU) professor of Economics at the NWU Business School, Prof Ravinder Rena, it will take a very long time for the country’s economy to recover meaningfully after the measures introduced by government to curb the spread of the global virus.

‘President Cyril Ramaphosa’s additional economic support package to address the fallout on the economy from Covid-19 represents a highly substantial raft of measures designed to assist distressed businesses, households and individuals, adding up to about 10% of South Africa’s GDP.”

“The South African Reserve Bank’s (SARB’s) surprise decision to cut interest rates by another 100 basis points is a welcome move. This will help to support the South African economy as it grapples with a rapidly deteriorating situation as a result of the extended Covid-19 lockdown.”

* A realistic, optimistic plan of action is needed

“The coronavirus pandemic is a health war that has led to an economic war, so South Africa requires a multidimensional plan to survive.”

The COVID-19 pandemic has certainly shown us what it means to live in unprecedented times. In the following opinion piece, Michelle Groenewald – a lecturer in economics at the North-West University (NWU) – shares her views on some encouraging measures that have taken place of late. She asks the question: can South Africans demand a better tomorrow?