The loan guarantee scheme, which enables banks to grant financial assistance to companies whose revenue have been affected by the lockdown, was announced by Ramaphosa in March as part of various strategies to mitigate the economic affect of the pandemic.
Ramaphosa on Wednesday said this will change as the country desperately awaited companies to be back in full operation to stimulate the economy and create jobs. “We encourage all companies who have faced a disruption of their earnings to seek support from this scheme while the economy recovers.”