Finance Minister Enoch Godongwana announced the Bounce Back scheme in his Budget Speech in February.
The new “bounce back” loan scheme – aimed at helping businesses recover from the pandemic – has finally come into effect.The scheme had been in the making for months before finance minister Enoch Godongwana announced it in February, and the government had more time to prepare than it did with the Covid-19 Loan Guarantee Scheme, which was slammed as a failure.Shortly before the end of the scheme in mid-2021, only R18.4 billion – of a potential R200 billion – had been dispersed.
