​WATCH: African Bank on the debt-relief bill

President Cyril Ramaphosa signed the controversial debt-relief bill into law last week.

The legislation provides for the extinguishing of the debt of heavily indebted consumers who earn a gross monthly income of no more than R7,500, have unsecured debt amounting to R50,000 and who have been found to be critically indebted.

The Treasury has estimated that the debt-relief proposals could result in as much as R20bn being written off.

African Bank CEO Basani Maluleke joined Business Day TV to discuss the implications of the legislation.

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