Debt counselling-a debt relief measure for over-indebted consumers
Debt counselling was introduced by the National Credit Act as a voluntary debt relief measure to assist over-indebted consumers. A consumer is over-indebted if his/her income is not sufficient to cover...
Black Industrialist and Exporters Conference - Young Black Industrialist Award
This award recognises youth-owned legal companies trading in South Africa and young individuals who demonstrate high levels of entrepreneurship in the manufacturing or service industries.
Black Industrialist and Exporters Conference - Women Black Industrialist Award
This award recognises women owned companies trading in South Africa and women who demonstrate high levels of entrepreneurship. The company should be at least 51% black women owned and be in the services or manufacturing sectors.
Black Industrialist and Exporters Conference - Sustainability Award (Green Industries and Greening the Economy)
This award recognises all green industries and business, which are in greening the economy, driving products and services seeking sustainability and sustainable environments. It aims to encourage South African companies to participate in industries using natural resources to prevent carbon emissions, climate change and ensure environmental conservation...
Black Industrialist and Exporters Conference - Job Creation Award
This award recognises companies operating in strategic sectors of the economy, which has created massive jobs through products or services they provide. It aims to encourage South African...
Information consent and indemnity form - Black Industrialist and Exporters Awards
the dtic limits the use and disclosure of personal information in its possession to the terms of the Protection of Personal Information Act 4 of 2013 (POPIA) or any other applicable laws.
Black Industrialist and Exporters Conference - call for entries : black industrialists and exporters awards
It is with great pleasure that we call for entries to the Inaugural Black Industrialists and Exporters Awards.
Black Industrialist and Exporters Conference - Black Industrialist and Exporters Award
This award recognises all export industry sectors from services to manufacturing. It aims to encourage other South African companies to participate in international business development or markets.
Black Industrialist and Exporters Conference - Exporters Award
This award recognises all export industry sectors from services to manufacturing. It aims to encourage other South African companies to participate in international business development or markets.
Keep your credit bureau record clean regardless of the rising cost of living
Despite the interest rate hike and the rising cost of living, the National Credit Regulator (NCR) encourages consumers, in particular the youth who have already signed credit agreements to continuously pay their monthly accounts on time and in full...
Misleading advertising on Social Media platforms regarding debt counselling
The National Credit Regulator (NCR) has in recent times noted advertising practices by debt counsellors and unregistered persons that are misleading and deceptive, unlawful and contrary to the provisions of the National Credit Act and its regulations, causing harm and distress to unsuspecting consumers.
Consumer rights in the digital world
On 15 March 2022, the National Credit Regulator (NCR) will join the world in commemorating the World Consumer Rights Day (WCRD) to raise awareness about consumer rights in terms of the National Credit Act. The international theme for World Consumer Rights Day 2022 is Fair Digital Finance, whilst the South African Government has adopted “#BetterDigitalWorld” as its theme.
Consumers are encouraged to borrow wisely and start saving
The National Credit Regulator (NCR) encourages consumers to make savings one of their New Year’s resolutions in order to avoid borrowing all the time and to avoid over-indebtedness. The festive season has come and gone, leaving some consumers...
It is illegal for a credit provider to take a consumer’s ID or cards when granting credit
“In terms of the National Credit Act, it is illegal for credit providers to retain consumers’ instruments such as identity documents (IDs), and bank cards when granting credit. This is the modus operandi adopted by some credit providers to enforce credit agreements entered into with consumers”..
Looting mayhem has cost some consumers dearly
The recent looting mayhem in Gauteng and KwaZulu-Natal has, with no doubt, cost some employees and owners of the vandalised premises dearly as some are unable to make monthly repayments towards their debts..
Debt counselling offers new lease of life for over-indebted consumers
The National Credit Act introduced debt counselling in 2007 as a debt relief measure that could assist over-indebted consumers through providing budget advice, negotiating with credit providers for reduced payments and...
Men and finances
The total outstanding consumer credit balances (or gross debtors book) as at March 2021 was R2.04 trillion. This amount represents monies that South African’s owe in terms of credit which is made up of amongst...
Alternative Data Landscape in South Africa
The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. IFC encourages dissemination of its work and will normally grant permission to reproduce portions of...
Credit extension slows down
The National Credit Regulator (NCR) released the Consumer Credit Market Report (CCMR) and the Credit Bureau Monitor (CBM). These reports are based on the data submitted to the NCR by registered credit providers and credit bureaus, respectively. The latest edition of the reports covers credit market information from January 2021 to March 2021.
The National Credit Regulator warns against false information on the National Credit Amendment Act relating to “Debt Intervention”
The National Credit Regulator (NCR) strongly condemns scams, which are mainly via online platforms and are aimed at deceiving consumers about debt intervention, which is a measure intended to assist debt stressed consumers, says Anne-Carien Du Plooy, Manager: Debt Intervention at the NCR.
The NCR and the Credit Ombud rowing together in the same boat.
The National Credit Regulator (NCR) and the Credit Ombud have signed a Memorandum of Understanding (MoU) facilitating co-operation and collaboration in achieving the objectives of the National Credit Act 34 of 2005 (the Act) and specifically the resolution and investigation of disputes between non-bank credit providers, credit bureaux and consumers...
Industry Communique for issuing 1 Febr 2021
In terms of Section 14 of the National Credit Act, 2005 (NCA), the National Credit Regulator (NCR) is responsible for regulating the consumer credit industry in South Africa. According to Section 69 of the NCA, the Minister of Trade and Industry...
Covid-19 impact on credit extension
The National Credit Regulator (NCR) released the Consumer Credit Market Report (CCMR) and the Credit Bureau Monitor (CBM). These reports are based on the data submitted to the NCR by registered credit providers and credit bureaus, respectively.
Media advisory cosumer rights webinar - Consumer protection matters to come under spotlight during the dtic dialogue
Consumer Protection matters will come under the spotlight during a Consumer Protection Webinar that will be hosted by the Department of Trade, Industry and Competition (the dtic) in conjunction with its agencies,
Media release consumer rights webinar - Consumer protection matters to come under spotlight during the dtic dialogue
Consumer Protection matters will come under the spotlight during a Consumer Protection Webinar that will be hosted by the Department of Trade, Industry and Competition (the dtic) in conjunction with its agencies
Debt counselling provides hope for those in need
Although many sectors have been allowed to get back to work, many South African households are in significant financial hardship and others have been struggling to make ends meet even before the COVID-19 pandemic, says Adv. Kedilatile Legodi, Acting Manager: Education & Communication at the National Credit Regulator (NCR).
Avoid panic buying as it may lead to over-indebtedness
Many South Africans are overwhelmed, living in fear and anxiety because of the rapid escalation of the COVID-19 (Coronavirus) which presents an unprecedented threat to South Africa and the world at large. In recent times, we have seen many consumers resorting to panic buying of essential items as the fear of the Coronavirus spreads.
Avoid panic buying as it may lead to over-indebtedness
Many South Africans are overwhelmed, living in fear and anxiety because of the rapid escalation of the COVID-19 (Coronavirus) which presents an unprecedented threat to South Africa and the world at large. In recent times, we have seen many consumers resorting to panic buying of essential items as the fear of the Coronavirus spreads.
Know your Consumer Rights and be protected
March is Human Rights month and has also been adopted as a Consumer Rights month in South Africa. The 15th of March has been declared World Consumer Rights Day (WCRD) and consumer rights will be celebrated world-wide.
The Tribunal rules that child support and foster care grants cannot be used as consumer’s income to apply for credit
The National Consumer Tribunal (Tribunal) yesterday handed down judgment in favour of the National Credit Regulator (NCR) against a Aristoscan CC, a micro lender trading as JMK Cash Loans, in which it found JMK Cash Loans guilty of various contraventions of the National Credit Act (the Act), including reckless lending.
The High Court rules in favour of the NCR that set-off does not apply to credit agreements subject to the National Credit Act
The High Court in Johannesburg has ruled in favour of the National Credit Regulator (NCR) against Standard Bank that the common law set-off does not apply to credit agreements subject to the National Credit Act (NCA). This follows an application for a declaratory order brought by the NCR against Standard Bank seeking legal clarity on the effect of section 124 of the NCA on the common law set-off.
Tribunal finds that the on the road fee, admin fee and handling fee charged by Volkswagen Financial Services South Africa (Pty) Ltd on credit agreements are unlawful
The National Consumer Tribunal (Tribunal) has handed down judgment confirming a Compliance Notice issued by the National Credit Regulator (NCR) to Volkswagen Financial Services South Africa (Pty) Ltd for charging consumers the “on the road” fee, admin fee and handling fee on credit agreements.
Credit extension seasonally surges
Today, the National Credit Regulator (NCR) released the Consumer Credit Market Report (CCMR) and the Credit Bureau Monitor (CBM), which are based on data submitted to the NCR by registered credit providers and credit bureaus respectively. The latest edition of the reports covers credit market information up to June 2018. The total value of new credit granted increased by 8.25% quarter-on-quarter from R121.62 billion to R131.65 billion. The number of applications for credit increased by 5.79% quarter-on-quarter from 10.49 million in March 2018 to 11.10 million in June 2018.
If you have to borrow, borrow wisely!
The festive season is over and reality has dawned that we are in a new year which is meant to at least bring all things new. Unfortunately, if consumers did not spend wisely during last year, this will mean that they will have to start the year on a tough note with taking out credit being the only option for some. Didi Sebothoma, Acting Manager: Education & Communication at the National Credit regulator (NCR) says there are many reasons why consumers might need to borrow at this time of the year.
National Credit Regulator issues a public warning against fake loan scams
[JOHANNESBURG] The National Credit Regulator (NCR) has warned consumers to be wary of fake credit providers who attempt to entrap consumers in loan scams.These scams typically target those who are in distressed financial circumstances and looking for a loan, using slogans such as “blacklisted” or “debt review clients welcome” says Jacqueline Peters, Manager: Investigations and Enforcement at the NCR.
Do not overdo it this festive season – Spend Wisely!
This year has been quiet a difficult one for some people as we have seen the petrol price hikes, VAT increases, interest rate increases, electricity increases etc making the cost of living very difficult for consumers whilst the total outstanding gross debtors book for consumer credit was R1.80 trillion as at June 2018, says Jimmy Golele, Acting Manager: Education & Communication at the NCR.
The Supreme Court of Appeal dismisses the MFSA’s application for special leave to appeal the judgment of the Full Court of the North Gauteng High Court on the interest rate regulations
The Supreme Court of Appeal has on 08th November 2018 dismissed the MicroFinance South Africa’s (MFSA) application for special leave to appeal the judgment of the Full Court of the North Gauteng High Court in favour of the National Credit Regulator (NCR) and Department of Trade and Industry (dti) on the regulations reducing the interest rates on the short-term loan.
