FNB estimates 2-million did not get paid in April
Bank analyses billions of transactions on its platform from February to September
Data analysis by FNB of billions of transactions running through its accounts over the lockdown indicates that 2-million people did not receive salaries in April, underscoring the huge significance of government interventions.
Spending on FNB cards plunged 60% in April after the implementation of the level 5 lockdown at the end of March. Income fell less severely, 26%, while the number of people receiving a salary or wage during that month fell 13%...