The Afrimat Construction Index showed depressed levels of construction activity in the first half of this year, but is there a construction sector recovery due in the months to come as the economy begins to gradually reopen. Joining CNBC Africa for this discussion is Geoff Nolting, Economist at FNB and John Matthews, President of Master Builders South Africa.
As the dust settles from South Africa’s emergency budget announcement, economist and ratings agencies have expressed their pessimism towards the finance minister Tito Mboweni’s ability to cut expenditure and deliver on his debt stabilisation plan. Joining CNBC Africa for this discussion are Mamello Matikinca-Ngwenya, Chief economist at FNB, Nicky Weimar, Chief Economist at Nedbank and Murtaza Moulvi, Head of Financial Markets at Standard Chartered Bank....
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.
Due to the COVID-19 pandemic putting financial strain on individuals, many South African banks are offering customers a three-month payment holiday on their debt. This however, may not be a viable option for small businesses as a term extension on loans may cause more harm than good. FNB has now created a Cashflow Relief Plan instead which will serve to be more cost effective than a straight term extension on loan repayments, joining CNBC Africa for more is Doret Jooste, CEO of FNB Retail Money Management.
Joining CNBC Africa to discuss the mix of global and local market news is Edgar Mafoko, Investment Portfolio Manager at FNB.
Amid the global COVID-19 pandemic and 21-day lockdown faced by South Africans, First National Bank has announced additional measures to assist small and medium-sized enterprises battling with funding in the country.
Three of South Africa’s major banks have revealed to CNBC Africa how small businesses can apply for funding from the South Africa Future Trust. This is what they had to say.
“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.