This provides the legal and institutional framework to facilitate the use of movable property. The Law expands the range of properties which can be used as loan collateral, particularly by the micro, small and medium enterprises addressing the challenges on accessing credit because of the lack of acceptable collateral. We look forward to the operationalization of the unified collateral registry.
However, as the emerging-markets crisis made itself felt, prime rose to a maximum of 25,5 per cent in August and September 1998 as one of the policy measures used to contain the decline in the exchange rate of the rand during that period, before starting to decline during October. For the year as a whole it averaged 21,8 per cent.