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بهترین سایت شرط بندی ایرانی
بهترین سایت شرط بندی ایرانی
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Global Statistics

All countries
695,781,740
Confirmed
Updated on September 26, 2023 9:04 pm
All countries
627,110,498
Recovered
Updated on September 26, 2023 9:04 pm
All countries
6,919,573
Deaths
Updated on September 26, 2023 9:04 pm

Global Statistics

All countries
695,781,740
Confirmed
Updated on September 26, 2023 9:04 pm
All countries
627,110,498
Recovered
Updated on September 26, 2023 9:04 pm
All countries
6,919,573
Deaths
Updated on September 26, 2023 9:04 pm

Mboweni: We will keep working on the Covid-19 scheme

City of Cape Town urges people to leave Kataza the baboon alone

Kataza the baboon. Facebook / Baboon Matters The City of Cape Town has asked the public not to feed a baboon that has relocated to Tokai. The baboon, known as Kataza or SK11, is slowly being integrated into the Tokai troop. Video footage, however, shows humans feeding Kataza. The City of Cape Town has requested that Kataza…

Rassie: There are various benefits for SA rugby to go north

As SA Rugby moves to determine which franchises will go to Europe in future, Rassie Erasmus has noted several potential benefits for the local game should that route be followed.The national director of rugby believes the high world rankings of Wales, Ireland and Scotland mean PRO Rugby is competitive and that fans will eventually identify…

A Once-in-a-Century Climate ‘Anomaly’ Might Have Made World War I Even Deadlier

(John Finney Photography/Moment/Getty Images) An abnormally bad season of weather may have had a significant impact on the death toll from both World War I and the 1918 Spanish flu pandemic, according to new research, with many more lives being lost due to torrential rain and plummeting temperatures. Through a detailed analysis of an ice…

PICS | Truck driver killed in Pinetown after truck ploughs into several cars

A vehicle that was hit in the accident. A truck driver was killed in a horrific sequence of events following an initial crash in Pinetown. While trying to move the truck after the accident, it appeared to lose control. He died after falling out of the truck which ploughed into several cars and a wall.A truck driver…

42 people in court for R56m police vehicle branding scam

Forty-two people have been implicated in a police car branding scam. Forty-two people have been arrested for their alleged involvement in a police vehicle branding scam. They face a range of charges including corruption, fraud, money laundering, theft and perjury.Of these, 22 are serving police members.Forty-two people are set to appear in the Pretoria Magistrate's Court on…

Minister of Finance, Tito Mboweni (Photo by Gallo Images/Ziyaad Douglas)

Minister of Finance, Tito Mboweni (Photo by Gallo Images/Ziyaad Douglas)

Gallo Images/Ziyaad Douglas

  • National Treasury’s loan guarantee scheme sought to assist businesses as lockdown conditions ease.
  • The statement said by the first week of August, banks had provided voluntary relief on loans with a book value at risk of R537 billion.
  • The statement said since the beginning of August, the scheme lent out R14 billion out of an initial R100 billion, benefiting almost 10 000 businesses.

Minister of Finance Tito Mboweni has said with the help of banks, National Treasury’s loan guarantee scheme was positioned to assist businesses and spur economic recovery as lockdown conditions imposed on the country’s economy continued to ease.

National Treasury said on Thursday it had met with the Reserve Bank and the Banking Association of South Africa to discuss the R200 billion loan guarantee scheme.

Also present at the meeting were South African Reserve Bank Governor Lesetja Kganyago, deputy SARB governor Kuben Naidoo, deputy minister of finance David Masondo and representatives of various registered banks.

The statement also comes as the loan guarantee scheme has come under fire for not being accessible enough for many distressed businesses.

The statement said by the first week of August, banks had provided voluntary relief on loans with a book value at risk of R537 billion.

Mboweni said National Treasury, the South African Reserve Bank and banking firms would have ongoing discussions to figure out how the loan guarantee scheme mechanism could be improved.

“The banking industry’s ongoing openness to discuss design improvements is particularly appreciated, and I note that many countries have adjusted the design of their respective schemes from time to time to respond to changing circumstances,” said Mboweni.

  • READ | Mboweni slams IMF loan speculation as ‘urban legend’

The statement said since the beginning of August, the scheme lent out R14 billion out of an initial R100 billion, benefiting almost 10 000 businesses. The statement said another 15 000 applications were still being processed by banks.

“Firms are reluctant to take on additional debt. However, the recently announced move to Level 2 would support the re-opening of significant parts of the economy.

“With firms adjusting to the next stage of the Covid-19 Pandemic, it is hoped that the economic recovery will strengthen and the demand for credit will improve,” the statement said.

The statement said demand for credit was low, due to voluntary assistance provided by the banks when the state of national disaster was first declared but that Treasury introduced changes to the design of the scheme, including a Business Restart Loan and changes to credit assessment criteria.

Read More

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Hot Topics

City of Cape Town urges people to leave Kataza the baboon alone

Kataza the baboon. Facebook / Baboon Matters The City of Cape Town has asked the public not to feed a baboon that has relocated to Tokai. The baboon, known as Kataza or SK11, is slowly being integrated into the Tokai troop. Video footage, however, shows humans feeding Kataza. The City of Cape Town has requested that Kataza…

Rassie: There are various benefits for SA rugby to go north

As SA Rugby moves to determine which franchises will go to Europe in future, Rassie Erasmus has noted several potential benefits for the local game should that route be followed.The national director of rugby believes the high world rankings of Wales, Ireland and Scotland mean PRO Rugby is competitive and that fans will eventually identify…

A Once-in-a-Century Climate ‘Anomaly’ Might Have Made World War I Even Deadlier

(John Finney Photography/Moment/Getty Images) An abnormally bad season of weather may have had a significant impact on the death toll from both World War I and the 1918 Spanish flu pandemic, according to new research, with many more lives being lost due to torrential rain and plummeting temperatures. Through a detailed analysis of an ice…

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City of Cape Town urges people to leave Kataza the baboon alone

Kataza the baboon. Facebook / Baboon Matters The City of Cape Town has asked the public not to feed a baboon that has relocated to Tokai. The baboon, known as Kataza or SK11, is slowly being integrated into the Tokai troop. Video footage, however, shows humans feeding Kataza. The City of Cape Town has requested that Kataza…

Rassie: There are various benefits for SA rugby to go north

As SA Rugby moves to determine which franchises will go to Europe in future, Rassie Erasmus has noted several potential benefits for the local game should that route be followed.The national director of rugby believes the high world rankings of Wales, Ireland and Scotland mean PRO Rugby is competitive and that fans will eventually identify…

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(John Finney Photography/Moment/Getty Images) An abnormally bad season of weather may have had a significant impact on the death toll from both World War I and the 1918 Spanish flu pandemic, according to new research, with many more lives being lost due to torrential rain and plummeting temperatures. Through a detailed analysis of an ice…