EFF calls on banks and service providers to be lenient during Covid-19 crisis

The EFF has proposed economic measures to combat the impact of Covid-19, calling on banks to suspend customers' loan repayments and service providers to suspend debit orders and service fees for four months.

In a statement, the red berets said South African banks should initiate a “payment holiday” for clients on home and car loans, credit cards and other debt, such as personal and student loans.

The party said banks should not be allowed to retrench workers during this time, adding that those who earned less than R15,000 a month should receive a grant of R3,500 for essentials.

The party urged service providers, such as MultiChoice, Vodacom, MTN, Telkom and Cell C, to suspend debit orders and service fees.

“Vodacom, MTN, Cell C, Telkom and all other network service providers should give all customers Rica SIM cards with daily free 200MB, 15 free talk minutes network to network and 15 minutes for all other networks,” the EFF said.

The call came before President Cyril Ramaphosa's address to the nation on Monday night, during which he announced “quick and targeted” economic interventions.

Ramaphosa announced the establishment of a solidarity fund run by the private sector, increased assistance to small and medium-sized enterprises, and “a tax subsidy of up to R500 per month for the next four months for those private sector employees earning below R6,500 under the Employment Tax Incentive. This will help over four million workers.”