South African Banks Who the hell do they think they are?
What is this nonsense about a new National Credit Act?
Why the hell are banks no granting bonds anymore?
Are these questions similar to the headlines you've been reading the last couple of months on most of South Africa's blogs, websites and newspapers?
Well, let me clarify something for all of us today!
If it wasn't for the credit lending practices that we've put into place. If it wasn't for South African banks putting tightened grips on lenders and it wasn't for South African banks who decided not to sell off bad debt and try make money from it, we'd be in the same boat that most of America's banks and lenders are finding themselves in.... More debt than they can handle and liquidation.
So this article goes out to the South African Government and Banking Institutions for keeping their companies afloat and in turn making South Africa's banking and lending amongst the top in the world.
Well done SA... Well Done!!!