SA banks seen lending R24bn under Covid scheme by January

South African banks are likely to extend loans of up to R24.41 billion to enterprises till January 2021 under the government’s loan guarantee scheme, the banking association said on Wednesday.

Banks have so far lent R16.71 billion under the scheme which was launched by the government in May under a coronavirus relief package, the association said.

Read: Banks provided R50bn in financial relief over lockdown