In full support of President Ramaphosa’s outlined approach to contain the spread of COVID-19, the Southern African Venture Capital and Private Equity Association (SAVCA) has demonstrated its commitment to implementing the necessary protocols by instituting various internal precautionary measures, among them the introduction of virtual events to replace face-to-face gatherings, travel restrictions and flexible work-from-home policies.
As the voice of the industry, SAVCA will offer its members guidance in navigating the challenging economic landscape that lies ahead through a weekly webinar series.
Tanya van Lill, SAVCA CEO, says that not only does COVID-19 affect citizens at large; it also has a ripple effect on markets – both public and private. “We suspect that the impact it may have on the industry relates to our members reviewing their investment objectives; sharing of additional information with their investee companies, investors and the broader community at large virtually and more frequently; and considering the impact of the crisis on aspects such as valuations, investee company supply chains and finding creative ways to stay connected given the limitation on travel.
“This is a critical time not only for our country, but globally. Global markets are facing great uncertainty and we strongly encourage our members and their portfolio companies to take the necessary precautions, as outlined by President Ramaphosa’s address to the nation.”
Van Lill encourages investment professionals to download the complimentary “Africa Private Equity News” app, of which SAVCA is a media partner, to stay apprised of industry developments and proactive measures that can be taken. “To stay updated with credible and factual details around COVID-19 in South Africa, we have also encouraged our members and stakeholders to join the Government’s automated WhatsApp group by adding the number - 060 012 3456 – to their contacts and typing “Hi” in the message block,” she adds.
“While the road ahead will certainly not be one without challenges, we at SAVCA will continue to closely monitor the situation and promise to do all we can to protect our people and the industry at large. Private Equity and Venture Capital has been known to be agile and flexible, and there isn’t a better time like the present for our industry to demonstrate this,” van Lill concludes.