Gauteng Economic Development MEC Kgosientso Ramokgopa says he will establish a mutual bank in the province within a year.
Ramokgopa was briefing the media in Johannesburg on Friday morning.
The bank will be modelled along the now defunct VBS Mutual Bank and it will provide funding for small to medium businesses.
Ramokgopa says he is in the process of inviting players and experts in the banking sector to provide capital for small businesses.
MEC @Kgosientso_R meets with various media houses to discuss the plans and programmes of the 6th administration as outlined by Premier @David_Makhura at the #GPSOPA19. #GrowingGautengTogether pic.twitter.com/ANtUo0hfJ7
— Gauteng Eco Dev (@GautengDED) July 5, 2019