As designed, SMEs that receive credit surety guarantee from the Fund can present this to banks as collateral for their loans. This is a relatively new program and so far, we have created 20 Credit Surety Funds: in four cities and in 16 provinces. Ladies and gentlemen.
One of the factors that has contributed to the large fluctuations of the rand in the past has been the large oversold NOFP of the Bank. The Bank’s stated objective has been to eliminate this open position, which stood at $ 23,2 billion at the end of September 1998.