The role of banks in providing loans to battling small businesses hit by Covid-19 has come into question in Parliament with Minister of Small Business Development Khumbudzo Ntshavheni telling MPs only R15 billion out of R200bn of the government guaranteed scheme has been distributed by the banks.
Ntshavheni said most of the companies that have benefitted the most from the R15bn allocated to small businesses were white owned companies."Honourable Dangor is saying given the limitation of resources and banks have been given R200bn and they chose to give R15bn to white businesses and black businesses are not supported," said Ntshavheni.
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