Lukanyo Mnyanda Editor: Business Day

SA’s four biggest banks have lent out only about R2bn to R3bn each since the launch of the government’s loan guarantee scheme in the middle of May, according to Reserve Bank deputy governor Kuben Naidoo.

The scheme, negotiated by the Banking Association SA and the Treasury, is meant to enable commercial banks to lend out as much as R200bn to otherwise viable businesses that are facing liquidity problems due to Covid-19.

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