Streaming issues? Report here
Clement Manyathela 1500 x 1500 2020 Clement Manyathela 1500 x 1500 2020
The Clement Manyathela Show
09:00 - 12:00
volume_up
volume_mute

Up Next: The Midday Report with Mandy Wiener
See full line-up
The Clement Manyathela Show
09:00 - 12:00
Home
arrow_forward
Business

BLACKLISTING: 'Banks are sensitive to businesses operating during Covid'

8 September 2021 11:59 AM
Tags:
Allon Raiz
Raizcorp
TransUnion Africa
Lee Naik

TransUnion CEO Lee Naik says it is advisable to approach a bank and say I have a problem and what can we do about it, including restructuring the payment.

These days, you cannot pick up a newspaper or magazine or read an online article without hearing about the financial impact of COVID-19 on big and small businesses alike.

The unfortunate consequence of the crisis is that millions of people across the African continent have lost and will lose their jobs. This is a bitter blow in a context where the creation of jobs – particularly in the emerging entrepreneurial business environment – has been driven hard by governments and development finance institutions.

READ: Govt to ban blacklisting of consumers whose records have been hit by COVID-19?

TransUnion Africa CEO Lee Naik and Allon Raiz, founder and CEO of Raizcorp, have more.

You get blacklisted because you did not pay. Banks and lenders look at whether you have a questionable character or you have inappropriate business skills. Don't miss your payment. Many banks and lenders are sensitive to businesses operating during Covid.

Allon Raiz, Founder and CEO - Raizcorp

When you have a situation such as Covid you are lumped into the same bucket as those with a questionable character or you have inappropriate business skills.

Allon Raiz, Founder and CEO - Raizcorp

Don't miss your payment. Many banks and lenders are sensitive to businesses operating during Covid. In terms of not being able to get funding during Covid, we take a quantitative approach. What was the history? This refers to the financial discipline within the business. We also look at the golden rule, the salary as a percentage of the profit. Are they living in or out of the business?

Allon Raiz, Founder and CEO - Raizcorp

Payment holidays are always available to a consumer. Approach a bank and say I have a problem and what can we do about it. Go to the lender to restructure the payment.

Lee Naik CEO - TransUnion Africa

Listen below for the full interview...




8 September 2021 11:59 AM
Tags:
Allon Raiz
Raizcorp
TransUnion Africa
Lee Naik

More from Business