SPONSORED: "Even though we've seen some recovery, we know that a lot of our customers will struggle to become financially stable again, at least in the short term," says Ewald Kellerman, Absa’s Home Loan Chief Risk Officer.
The COVID-19 pandemic hit the pockets of many South Africans in a brutal way.
And even with lowered interest rates, many are still struggling to meet their financial obligations.
Many financial institutions, Absa included, initially offered customers a three-month payment holiday or relief package.
But with state-run relief mechanisms fast running out, it has become clear that true financial recovery will be a long and arduous road – and a road that banks and their customers will have to walk together.
This realisation saw the birth of the Absa Siyasizana Programme.
"Siyasizana in isiZulu means “we help each other” and as Absa, we know that we need to do more during these difficult times so that our customers can also do more," says Ewald Kellerman, Absa's Home Loan Chief Risk Officer.
The Absa Siyasizana Programme differs from the initial three-month payment relief plan as it provides a more tailored approach for individual customer needs – avoiding a blanket approach.
The programme covers home loans, vehicle finance, personal loans, credit cards and a number of other financial products, including bespoke solutions for any business product.
More information and the terms and conditions can be found at www.absa.co.za under the Manage my debt tab.
"We realise that these are difficult times for our customers, but please speak to us so that we can help you get back on your feet," concludes Kellerman.