Tag: oppenheimer family
The billionaire Oppenheimer family has overseen interest free loans worth R638 million given to five thousand eight hundred businesses in just 11 days. Who get these millions go? Well right now we are going to speak to someone who has got some of the money. Karen Levell employs 42 women in two nail bar businesses in Johannesburg. Even before the lockdown her business was in trouble because people didn’t want to risk contact.
It is one of the biggest billionaire names in African business and a couple of weeks ago it lent its financial muscle to keeping small business alive South Africa in the difficult days of COVID-19. The fund set up by the Oppenheimer family put up a R1 billion to help pay workers and keep small businesses afloat in the lockdown. It has paid out R330 million so far and claims 30,000 workers got paid before the Easter weekend because of the fund that could get bigger. Over the weekend the family reached out to its connections to raise more. One of the founders of the fund Johnathan Oppenheimer revealed how much.