It would be inappropriate for this document to comment on the overarching actions the state could take. Instead, the focus here is on what individual companies such as state entities and private organisations can do. This is not the time for complacency. Boards must review their business plans, business models and business continuity strategies. COVID-19 is not an event with a defined beginning or end. It’s likely to remain an ongoing threat and require different responses at different times. Additional lockdown periods and other disruptions are very likely.

Organisations must look at what will ensure their financial sustainability during these periods of uncertainty. Those that adopt a wait-and-see attitude or assume that the crisis will resolve itself are in the biggest danger. The epidemic demands direct and clear plans. At the least, organisations must develop 12-18-month plans to navigate the near future of the crisis. Supply chain policies must be reviewed, particularly if organisations or their partners rely heavily on imports from major economies such as China, India and the USA. Alternative supply chain models should be found and local manufacturers should be prioritised. This can stabilise local supply chains and act as a stimulus for employment and economic growth.

Risk management plans and policies must be reviewed. Even if a company has plans in place to manage a pandemic event, the instability and fluidity of the situation don’t leave room for complacency. Those that have prepared should prepare some more. Among the new risks are those of a legal nature. With the potential of mass retrenchments comes the threat of CCMA cases and other legal barriers such as liquidation and litigation. Contracts must also be reviewed to look for liabilities and recommend mitigating actions.