Intervention Categories: Legal and policy; Regulatory change; Finance policy and financial aid
Level of Jurisdiction: National
Overview: The Government of South Africa has exempted commercial banks from ordinary competition laws.
The measure is aimed at enabling banks to coordinate approaches to debt relief and similar measures for businesses and people experiencing financial stress.
In particular, banks will be able to coordinate approaches to payment holidays and debt relief, limitations on asset repossessions, and the extension of credit lines.
Full details here: https://www.gov.za/speeches/president-cyril-ramaphosa-escalation-measures-combat-coronavirus-covid-19-pandemic-23-mar