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Absa launches COVID-19 payment relief programme to help customers affected by outbreak and lockdown

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Absa is offering financial support to customers who have been affected by the COVID-19 pandemic, in the form of a payment relief programme.

In a statement on Monday, 30 March 2020, Group Chief Executive of Absa, Daniel Mminele, stated, “We realise that this is a difficult time for our customers and businesses whose financial means are being negatively affected. After careful consideration and engagements with regulators, we are pleased to introduce a comprehensive customer, business and corporate relief programme.”

The programme provides customers with a three-month payment holiday, which allows those in need to be granted short-term relief from their monthly instalments. This programme will give customers the opportunity to either continue paying if they are in a position to, to pay reduced instalments by setting up an agreement with the bank, or to defer payments for a period of three months. Absa has urged customers who are able to continue with payments to do so, as it will enable them to offer this programme to those truly in need.

Mminele also went on to explain that Absa campuses also house a number of small and medium enterprises, which have also been financially impacted by the 21-day lockdown. In an attempt to lighten their load, Absa has offered them a three-month financial holiday as well.

See the full statement here.


Sayushka Naidoo
[email protected]

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