S African property owners plan relief for retail tenants

Bloomberg

South Africa’s property owners will provide relief to retail tenants hardest hit by a nationwide lockdown to curb the spread of Covid-19.
The initiative, which focusses on small-, medium- and micro-sized enterprises, will be rolled out by landlords nationally, the Property Industry Group said in a statement published on the website of the South African Real Estate Investment Trusts Association.
The initiative aims to preserve jobs for retailers, their suppliers and service providers, the group said. To qualify for relief, retail tenants will need to agree not to dismiss staff.