Big companies commit to paying SMEs in 30 days, want this to be JSE requirement
More than 50 large companies have formally committed to paying their SME suppliers in 30 days.
This is to help the business survive the impact of COVID-19.
Multiple organisations spearheaded the initiative called #PayIn30.
John Perlman speaks Business Leadership South Africa (BLSA) CEO Busisiwe Mavuso about the initiative and challenges faced by SMEs.
A survey conducted showed that 91% of SMEs are owed money outside their payment terms.Busisiwe Mavuso, CEO - Business Leadership South Africa
Another piece showed that businesses are paid after 120 days instead of 30 days.Busisiwe Mavuso, CEO - Business Leadership South Africa
Mavuso says their next step is to get the 400 JSE listed companies to sign up to this initiative.
We are talking with the JSE to see if this can't be one of the listing requirements.Busisiwe Mavuso, CEO - Business Leadership South Africa
Listen to the full interview below...
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