The Covid-19 loan guarantee scheme announced by President Cyril Ramaphosa in April will
operate from today, 12 May 2020. The initial set of participating banks (Absa, First National
Bank, Investec, Mercantile Bank, Nedbank and Standard Bank) are ready to accept loan
applications from distressed businesses which bank with them.
The activation of the loan guarantee scheme follows the finalisation of legal details by National
Treasury, the South African Reserve Bank and the Banking Association South Africa.