A multi-billion rand loan guarantee scheme announced by South African President Cyril Ramaphosa last month is now officially in operation, with the assistance of the country’s major banks, including FNB, Investec, Standard Bank and Absa.
“In recent weeks, the South African Government, business community, philanthropists and society at large have shown remarkable unity in a joint effort to protect our country against the impact of COVID-19,” writes FNB Chief Executive Officer, Jacques Celliers.
Banks will significantly reduce their charges for South African Social Security Agency (SASSA) grant beneficiaries, to increase the number of pay-points they can use to collect their grants, which will help maintain social distancing in queues at bank branches and retailers, for the duration of the Covid-19 pandemic lockdown.
A group of Chief Executive Officers of leading businesses met with President Cyril Ramaphosa and his advisors to discuss how business and government can work together to address the urgent socio-economic challenges facing our country. Cas Coovadia, Managing Director of The Banking Association of South Africa joins CNBC Africa for more.
Allen Onyema, CEO of Nigerian indigenous airline, Air Peace says the government has supported local airlines through tax waivers and more but there is a need for a review of the country’s Bilateral Aviation Safety Agreements (BASA) in other to foster the growth of local players. To examine the state of Nigeria’s aviation sector at the ongoing 59th Annual General Conference of the Nigerian Bar Association, Allen Onyema joins CNBC Africa’s Christy Cole for more.
CNBC Africa’s Karabo Letlhatlha is at the Beer Association of South Africa launch which aims to bring the main beer manufacturers together in order to transform and challenge issues that faces South Africa’s alcohol and beer industry. He spoke to Nick Smith, Craft Brewer and BASA member for more.
Managing director for the Banking Association of South Africa (BASA) Cas Coovadia give his views on president Ramaphosa’s cabinet announcement.
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