Covid-19 relief granted for 376,000 Absa customers as wallets squeezed

Absa's payment relief programme is available to all customers in good standing, and there are no administrative fees, turnover limits or income thresholds.
Absa's payment relief programme is available to all customers in good standing, and there are no administrative fees, turnover limits or income thresholds.
Image: Reuters

More than 376,000 account holders affected by Covid-19 have taken advantage of payment relief across Absa's retail and business banking division in South Africa.

This amounts to R5.8bn in cash-flow relief over three months for the bank's customers.

The programme was launched on March 30, with the bank saying South Africans were experiencing "extreme financial pressure".

The payment relief programme is available to all customers in good standing, and there are no administrative fees, turnover limits or income thresholds.

"The programme’s strong uptake, and indeed the bank’s wide-ranging and upcoming initiatives, are testament to our commitment to finding genuine, customer-orientated solutions in a time of great anxiety," said Absa.

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