Hilary Joffe Columnist

African Bank is seeing clients facing retrenchment now, as employers who managed to keep workers on through the first phase of the lockdown start to realise the full impact of Covid’s prolonged shutdown on SA's economy.

African Bank CEO Basani Maluleke said this week that the bank has seen a dramatic increase in credit life payments to clients who have been put on short time or unpaid leave and are earning less than 80% of what they are usually paid.

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