21 April 2020 – Established loan guarantee scheme for businesses

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Business support
Sectors Involved:
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Government of South Africa announced a R200 billion loan guarantee scheme as part of a broader business relief package, in partnership with major banks, national treasury and reserve bank.

The scheme is aimed at assisting with operational costs, salaries, rent and payment of suppliers.

Companies with turnover of less than R300 million a year will be eligible.

700,000 firms and more than 3 million employees are expected to benefit.
Full details here: https://www.gov.za/speeches/president-cyril-ramaphosa-additional-coronavirus-covid-19-economic-and-social-relief