‘Commercial banks should account for lack of access to credit’

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1 minute

Parliament’s Trade, Industry and Competition Portfolio Committee says it would like representatives of the main commercial banks to appear before its next year.

It says it would like them to explain whether or not they have put in place measures to facilitate transformation and small business development.

The committee’s chairperson Mzwandile Masina says, “The consumption credit is easily available in SA but credit for creating a business is not available but also banks make unilateral laws that make no sense. We have to hold them accountable, including some charges they charge individuals and gov institutions. So, they will appear before us so we can have a conversation about what are the areas we need to tighten.”

The Chairperson of the Portfolio Committee on Trade, Industry and Competition @mzwandileMasina said during the #WeeklyMediaBriefing that the committee plans to call major banking institutions to account on the lack of access to credit for productive purposes such as starting… pic.twitter.com/EXwdPfl2qB

— Parliament of RSA (@ParliamentofRSA) December 3, 2024