The Banking Association South Africa

News

ATM Hygiene Measures

South African banks are committed to creating a safe environment for their customers to transact and will continue to implement practical measures aimed at preventing the spread of Covid-19 at automated teller machines (ATMs).

Dec Loan Scheme Update

As at 21 November 2020, banks had approved R17,49 billion in loans to small businesses under the Covid-19 Loan Guarantee Scheme. The scheme is a partnership between participating commercial banks, the National Treasury and the South African Reserve Bank (SARB)

Banks Hit By Downgrade

The credit ratings of SA banks will be downgraded after the decision by three investor services agencies to downgrade the country’s credit risk rating. As banks depend on the health of the economy as a whole for sustainable business and are among the largest holders of sovereign bonds, their credit ratings are never higher than that of their country.

CoFI Bill Submissions

BASA expresses our gratitude for allowing us additional time to compile a submission which is representative of the views and inputs of our members. As you know some of our members are also conglomerates, therefore our comments are not limited to “banking” only.

Cheques Are No Longer Valid

The South African Reserve Bank (SARB), Financial Sector Conduct Authority (FSCA), Payments Association of South Africa (PASA) and the Banking Association South Africa (BASA) are jointly communicating to the public that the issuing and the acceptance/collection of cheques will cease, effective from 31 December 2020.

Nov Covid-19 Relief Update

As at 24 October 2020, banks had provided over R50 billion in financial relief – R33,61 billion in payment breaks on credit agreements and R16,71 billion under the loan guarantee scheme – to South African businesses and individuals who are financially distressed due to the Covid-19 pandemic and national lockdown.

2020 Medium Term Budget

The Medium Term Budget Policy Statement (MTBPS) was a frank assessment of the public purse and the state of the economy and clearly set out some of the painful trade-offs that will need to be made in the years ahead if South Africa’s Economic Reconstruction and Recovery Plan is to succeed.

Reconstruction and Recovery

The Economic Reconstruction and Recovery Plan (ERRP) unveiled yesterday by President Ramaphosa – the product of months of consultation with NEDLAC social partners – lays out a clear and inclusive path to recovery and reconstruction.

Sep Covid-19 Relief Update

Covid-19 Opinion

South African banks have done a huge amount over the last few months to support their customers and the economy of the country during the Covid-19 pandemic and national lockdown.