21 April 2020 – Established loan guarantee scheme for businesses

Intervention Categories: Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: National

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