The Banking Association South Africa

News

SA SMME COVID-19 Impact Report

The COVID-19 pandemic resulted in a lockdown that had a devastating impact on the livelihood of small businesses. According to the National Income Dynamics Study (Coronavirus Rapid Mobile Survey), a consumer study, South Africa has lost a decade’s worth of jobs in less than half a year of lockdown and the economy slowed by 16.4% in the second quarter of 2020 compared with the first quarter of 2020.

Transformation Banking Report

The Banking Association South Africa (BASA) Transformation in Banking Report 2020 reflects the progress made by banks in transforming the industry and increasing economic inclusiveness and empowerment, despite constrained economic conditions. Significant progress was made on key metrics that track the transformation of the industry and its support for Broad-based Black Economic Empowerment in 2019.

Do not Take the Bait: OBS Warns

Covid-19 Loan Update April

The Covid-19 Loan Guarantee Scheme, which was scheduled to expire on 11 April 2021, will remain in operation for a further three months to allow those who have qualified for a loan to continue to access their funds and for applications in process to be finalised. The scheme will not be extended beyond 11 July 2021.

COVID-19 Loan Scheme Extension

The Loan Guarantee Scheme (LGS) was announced by President Cyril Ramaphosa on 21 April 2020 as part of the Economic Stimulus Package and was designed to support small businesses that were experiencing financial distress as a result of the COVID-19 pandemic. The LGS was launched by the National Treasury, the South African Reserve Bank and the Banking Association South Africa (BASA) on 12 May 2020.

Climate Risk Forum Webinar

The session is scheduled for 30 March, 11:15 to 12:45, details included on the invite. Registration Link: Climate Risk Forum Webinar Registration

Covid-19 Loan Update March

As of 27 February 2021, R18,01 billion in loans had been approved by banks and taken up by small businesses under the Covid-19 Loan Guarantee Scheme. In the preceding two weeks, participating banks received only 258 applications for loans, of which 61, to the value of R54 million, were approved.

The National Budget 2021

With his budget announcement today, the Minister of Finance, Tito Mboweni, had to put the country’s finances on the road to recovery, create conditions to boost inclusive economic growth and job creation, and restore business and investor confidence.

Expropriation Bill No. 23, 2020

January Loan Scheme Update

As of 16 January 2021, R17,84 billion in loans had been approved by banks and taken up by small businesses under the Covid-19 Loan Guarantee Scheme.