Banks also come to the virus relief party

A commuter is seen washing his hands using one of the water tanks at the Kopanong Taxi Rank in Hammanskraal, 31 March 2020, Pretoria. Picture: Jacques Nelles

The banking industry is today expected to keep its promise to help customers keep their heads above water.

Some companies are providing relief to communities, clients, suppliers and the public healthcare system caught up in the coronavirus pandemic.

The bar was recently set high by business tycoons Johann Rupert and Nicky Oppenheimer, who each gave R1 billion as relief to small businesses affected by the Covid-19 lockdown.

Billionaire Patrice Motsepe also pledged R1 billion towards the fight against the virus spread.

AngloGold Ashanti has donated water tanks that were handed over by Gauteng transport MEC Jacob Mamabolo yesterday to Hammanskraal taxi ranks in Tshwane in aid of flattening the curve of the coronavirus outbreak.

The banking industry is today expected to keep its promise to help customers keep their heads above water.

Nedbank undertook to extend loan agreements, including deferring payments.

Absa donated R15.7 million towards various initiatives aimed at dealing with the impact of virus, including testing and hygiene, as well as public health activities in partnership with government. The bank redirected funds from the cancelled Absa Cape Epic to vulnerable communities in the Cape.

Standard Bank assured its stakeholders and clients that it remained liquid and those needing to claim for any services were welcome to apply.

The bank undertook to give instalment payment reprieves to customers earning R7,500 or less for three months if they were not in arrears yesterday. This included home loans, vehicle and asset finance, credit cards and short term loans.

This was in addition to its three-month instalment relief to small and medium-sized enterprises with less than R20 million turnover and full-time students bearing its loans.

FNB is to give its customers with a good record of payment a three-month reprieve across all products.

Customers on FNB Connect will also receive 1GB of free data to help them stay connected during the lockdown. Speed-point device rentals will be waived and some merchants will not be charged the minimum fee.

ericn@citizen.co.za

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