Kuben Naidoo on what the SARB is doing to cushion banks from COVID-19

In the last week South Africa’s banking regulator has taken extraordinary measures to stabilise the bond markets and financial system, on which the very heart of the economy is built on. The South African Reserve Bank revealed plans to buy bonds and give banks a respite from accounting and capital rules. This could release about 300 billion rand for lending to assist the economy to deal with Moody’s downgrade and COVID-19. Kuben Naidoo, Deputy Governor of the South African Reserve Bank and Chief Executive Officer of the Prudential Authority joins CNBC Africa for more.

Mon Mar 30 2020 | 16:37:57 GMT+0000 (Coordinated Universal Time)


Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.