The pace of credit extended to households and private companies slowed for a seventh consecutive month in September, reflecting subdued appetite for credit, particularly from corporates, amid a tough economic climate.

Lacklustre private sector credit extension, which came in at 3.1% year on year, according to data from the SA Reserve Bank,  persists despite record low interest rates and a government-backed loan guarantee scheme for businesses that was rolled out as part of the government's R500bn stimulus aimed at supporting the economy..

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