The National Treasury, with SA’s banks, this week agreed to extend a R200bn Covid loan guarantee scheme by another three months, despite a pitifully low take-up of R18.16bn. The banks involved in the programme, launched last May as part of President Cyril Ramaphosa’s much-hyped R500bn pandemic assistance package, have drawn the president’s ire for their "greatly disappointing" rollout. The FM caught up with Banking Association SA (Basa) MD Bongiwe Kunene.
What is the point of extending this, given how unsuccessful it was?..
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