Business support loans fall short of already low bar

📆 2021/02/04 10:30:00
📰 BDliveSA

⏱ Reading Time:
24 sec. here
2 min. at publisher
📊 Quality Score:
News: 13%
Publisher: 63%

South Africa News News

Previous undertakings by President Cyril Ramaphosa to boost take-up haven't delivered, with just a fraction of intended R200bn extended to small enterprises

The loan guarantee scheme that was touted as a major intervention by President Cyril Ramaphosa to arrest the economic damage wrought by hard lockdowns looks set to miss even its own downgraded targets, with just under 9% of its original R200bn allocated to struggling businesses.

Despite the government using the total figure as a key component of its stimulus, accounting for 40% of the R500bn cited by Ramaphosa, Banking Association SA data showed that by January 16 small businesses had received just R17.84bn...A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business support loans fall short of already low barPrevious undertakings by President Cyril Ramaphosa to boost take-up haven't delivered, with just a fraction of intended R200bn extended to small enterprises 🔒
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Gold Steadies Near Two-Month Low as Havens Fall Out of FavorGold steadied near the lowest level in more than two months as an uptick in the dollar and further signs of economic recovery pummeled demand for the haven asset.
Source: dailymaverick - 🏆 3. / 84 Read more »