New SA black-owned bank in the works

Plans are under way to create a black-owned bank that will empower small businesses.

JOHANNESBURG - Plans are underway to create a black-owned bank that will empower small businesses.

The Black Business Council says the bank would make it easier to access loans.

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According to BBC Treasurer-general Bonolo Ramokhele the bank will target people who live in rural areas and in townships.  

Ramokhele explained: "We still have a significant chunk of people who are unbanked.

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"Even those who access bare minimum in terms of offering.

"We're looking at the bank that will look into the needs of SMMEs... people in rural areas and townships which current banks are not looking at."
 

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Source
eNCA