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Absa Bank Limited, Registration number 1986/004794/06. Absa's partnership with SAFT shows commitment to SMMEs In a sign of unwavering support for Small, Medium and Micro-sized Enterprises (SMMEs), communities and the economy at large, Absa has partnered with the South African Future Trust (SAFT) to administer the disbursement of funds to SMME employees whose income will be impacted in the wake of the COVID-19 pandemic. o The application process and disbursement of funds is being facilitated by the Absa on behalf of SAFT o The loans will be made by SAFT and not the Absa even though the funds may be disbursed by The Absa on behalf of SAFT o SAFT and the Absa will be entitled to share information contained in the application and with To qualify for a SAFT loan your business needs to visit www.absa.co.za Be able to prove the current or future impact of COVID-19 on your operation. Have been trading for 24 months or more. Saft is a battery maker like no other. From research to manufacturing and sales, we set the pace. We have some of the brightest minds working on developing and producing our batteries; around 1.5 percent of our employees have PhDs.

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The Oppenheimer family’s R1bn SA Future Trust (SAFT) will lend directly to employees from small businesses. It said there are no minimum monthly payments requirements attached to the loan and that it only needs to be settled in full at the end of the term. Employees carry no liability for the repayment of the loan, it said.

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The qualifying criteria include that the SMME needs to bank with one of SAFT’s banking partners (Absa… Absa, together with three other South African banks, will take responsibility for administering the scheme, targeted at SMMEs in Gauteng.
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In a sign of unwavering support for Small, Medium and Micro-sized Enterprises (SMMEs), communities and the economy at large, Absa has partnered with the South African Future Trust (SAFT) to administer the disbursement of funds to SMME employees whose income will be impacted in the wake of the COVID-19 pandemic. o The application process and disbursement of funds is being facilitated by the Absa on behalf of SAFT o The loans will be made by SAFT and not the Absa even though the funds may be disbursed by The Absa on behalf of SAFT o SAFT and the Absa will be entitled to share information contained in … The SAFT has partnered with four of South Africa’s leading banks in administering this scheme: ABSA, FirstRand Bank, Nedbank and Standard Bank. The SAFT scheme is now live. The scheme is currently available to clients of these four banks whose businesses … We want to thank you SAFT (via Absa) for granting this loan as we were able to ensure that our employees had money in their accounts.

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The main aim of the SAFT is to mitigate the immediate economic impact of the Covid-19 crisis by keeping companies in business and protecting jobs, in order to fast track South Africa’s economic SOUTH AFRICAN FUTURE TRUST (SAFT) • Subject to a total loan funding limit of R1 billion and on a first-come, first-served basis, the SAFT may provide salary support for qualifying SMMEs. The qualifying criteria include that the SMME needs to bank with one of SAFT’s banking partners (Absa, First National Bank, Investec, Absa gives you more value for your money with a Student Silver Account if you are a student. You can do your daily banking transactions knowing that you only pay the lowest R26.00 monthly fees. This account doesn’t limit your card swipes, you can swipe as many times as you can – giving you the freedom to manage your money around the clock. The Oppenheimer family has announced details of how South African businesses can apply for a slice of their R1 billion donation. The money will be paid out directly to employees of small, medium and micro-sized businesses as interest-free loans.