Streaming issues? Report here
702 logo Gradients 702 logo Gradients
Best of 702
00:00 - 06:00
volume_up
volume_mute

Up Next: Weekend Breakfast with Refiloe Mpakanyane
See full line-up
Best of 702
00:00 - 06:00
Home
arrow_forward
Business
fiber_manual_record
Politics

SA's banking sector to lend a helping hand to SOEs

26 June 2018 8:16 AM
Tags:
Banking Association of South Africa
SOEs
Asisa

A technical team has been put together from government and the banking sector to look at options to stabilise SOEs.

The Banking Association of South Africa and the Association for Savings and Investment South Africa (ASISA) have met with government finance officials to discuss ways to stabilise SOEs, and make them sustainable.

MD of the Banking Association of SA Cas Coovadia says the meeting happened at government's request, saying that SOEs need immediate assistance.

Read: 'We need to work hard to get SOEs to be sustainable'

What we said was, let's put a team of technical people, that would look at options the financial sector would have, for funding some of this in the short term, but in a way that it doesn't put the depositors money at risk and in a way that doesn't bring systemic risk to the industry. We need to do it in a way that is acceptable to rating agencies...

Cas Coovadia, MD of the Banking Association of SA

So we have put a couple of teams together to start working on this.

Cas Coovadia, MD of the Banking Association of SA

Coovadia says they will be meeting with the technical team again this week and are hoping to start putting some options on the table in the next six weeks.

To hear the rest of the conversation with Cas Coovadia, listen below:


This article first appeared on CapeTalk : SA's banking sector to lend a helping hand to SOEs


26 June 2018 8:16 AM
Tags:
Banking Association of South Africa
SOEs
Asisa

Recommended

More from Business

Restaurant with spaced table for Covid-19 social distancing

Load shedding yet another blow for struggling SA businesses

11 July 2020 2:19 PM

Eskom is implementing stage two load shedding for a second day, while technicians work to bring generating units back online.

Share this:
Read More arrow_forward

Darkness, no electricity, load shedding

Loadshedding to be implemented from Friday - Eskom COO

10 July 2020 11:03 AM

More generating units have broken down, resulting in the utility battling to meet the high demand for electricity.

Share this:
Read More arrow_forward

wifi-internet-data-broadband-cell-phone-mobile-device-network-providers-123rf

Small Business Focus: How to get your marketing right in a shrinking media world

9 July 2020 8:38 PM

Pavlo Phitidis says focus must be on the customer group you are trying to reach. You've got to get your demographics right.

Share this:
Read More arrow_forward

broken-heart-broke-money-coins-finances-love-relationship-divorce-break-up-123rf

Personal Finance Feature: Julia - The super saver

9 July 2020 8:02 PM

Though leaving corporate to venture into tourism has been a big test of resilience, she is still happy with her decision.

Share this:
Read More arrow_forward

180710sactwu-strikejpg

SA is becoming a country of old people. Median age has risen from 23 to 27

9 July 2020 7:30 PM

Lumkile Mondi says skills and knowledge that have driven a lot of the growth in the past are going to be undermined.

Share this:
Read More arrow_forward

190430-joburg-soca-edjpg

City of Joburg tables R68.1bn budget for 2020/2021

9 July 2020 5:25 PM

This follows several delays which saw the Gauteng government throw the book at the city’s council threatening to place it under administration.

Share this:
Read More arrow_forward

Woman saving money piggy bank mask 123rf 123rfbusiness 123rflifestyle

Supersaver Julia has changed lives, and she can change yours! – Bruce Whitfield

9 July 2020 3:00 PM

Need the inspiration to save? The Money Show’s Bruce Whitfield interviews “Supersaver Julia” at around 7:15 pm tonight.

Share this:
Read More arrow_forward

200106-daniel-mminele-edjpg

Daniel Mminele on his shapeshifting career

8 July 2020 8:43 PM

Absa CEO Daniel Mminele says they had to transition very quickly within a very space of time into operating in a new normal.

Share this:
Read More arrow_forward

171227prieska-arrestjpg

Payment methods ... the good, the bad and the ugly

8 July 2020 8:14 PM

Wendy Knowler says it is expensive to issue or bank a cheque. For example, to deposit a cheque can cost well over R100.

Share this:
Read More arrow_forward

123rf A pile of two hundred rand notes, South African currency money

For the first time in SA there is a specific law on how banks treat customers

8 July 2020 7:42 PM

Caroline Da Silva of the FSCA says they will look into patterns of complaints to see how to change a bank's behaviour.

Share this:
Read More arrow_forward

More from Politics

scootersjpg

'EC scooters were procured to allow transportation of meds by health workers'

10 July 2020 12:07 PM

Provincial health department head Dr Thobile Mbengashe is adamant that these scooters were never meant to be ambulances.

Share this:
Read More arrow_forward

scootersjpg

EC tender was for 100 clinics, not ambulances - Fabkomp director

10 July 2020 7:34 AM

The company that got the R10 million tender's Brian Harmse sheds light on the controversial project.

Share this:
Read More arrow_forward

190124 Phil Masinga4

For anyone to write me off politically at this moment is ill-advised - Gigaba

9 July 2020 11:50 AM

Clement Manyathela chats with former minister Malusi Gigaba in a new feature called #HangingOutwithClement.

Share this:
Read More arrow_forward

123rf A pile of two hundred rand notes, South African currency money

'It is critical that South Africa brings its public debt under control'

9 July 2020 8:07 AM

RMB CEO James Formby says if the country doesnt control its debt, it will find itself in an economic quagmire.

Share this:
Read More arrow_forward

200707truckdriversgif

Truck drivers continue with protest despite union's plea for the strike to end

8 July 2020 1:57 PM

All Truck Drivers Foundation Gauteng secretary Mandla Mngomezulu says the union condemn any violence that is brought by protest.

Share this:
Read More arrow_forward

5bad5cbc-6b7e-4f1f-8645-42121cf93eb0.jpg

Numsa and Sacca among five unions who accepted SAA voluntary severance packages

8 July 2020 11:38 AM

Public Enterprises Department acting director-general Kgathatso Tlhakudi gives insight on how the agreement was reached.

Share this:
Read More arrow_forward

191125mukharigif

George Mukhari Hospital CEO says he learnt about alleged rape from media

8 July 2020 7:46 AM

The police and the hospital are investigating the rape incident of a two-year-old while in a COVID-19 isolation area.

Share this:
Read More arrow_forward

Mokonyane1

'It is important to put something tangible to allegations against Mokonyane'

7 July 2020 2:39 PM

Investigative journalist Kyle Cowan says the Zondo commission is taking a very long time and there is a little bit of inquiry fatigue.

Share this:
Read More arrow_forward

200506-truter-vbs-edjpg

If Truter spills the beans a lot of VBS looters will be in trouble - Clement

7 July 2020 2:36 PM

Clement Manyathela unpacks what he thinks will happen if former VBS CFO Phillip Truter testifies.

Share this:
Read More arrow_forward

ebdbczdxsaesdv-jpg

Media giant to shut down some publications as COVID-19 hits Media24

7 July 2020 1:20 PM

CEO Ishmet Davidson says the pandemic has accelerated the pre-existing and long-term structural decline in print media.

Share this:
Read More arrow_forward