Less than 1% of SA’s small businesses have benefited from the beleaguered Covid-19 loan guarantee scheme, originally intended as a flagship of the government’s economic support package.                               

This is according to a new report from consultancy McKinsey & Co released on Tuesday, which suggested that reluctance by small businesses to take on more onerous debt and burdensome traditional risk criteria by banks have contributed to the scheme’s failure to reach SA’s roughly 2.5-million small firms...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now