South Africa Plans 200 Billion Rand Bank-Loan Guarantee Program

(Bloomberg) -- South Africa will introduce a 200 billion rand ($10.5 billion) loan-guarantee program to help banks extend credit to businesses and support the economy in recovering from the coronavirus pandemic, President Cyril Ramaphosa said in a speech broadcast on national television Tuesday.

The guaranteed will support more than 700,000 business and some banks will start implementing them by the end of the month, Ramaphosa said.

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