Share

Cap on credit insurance will hit many lenders hard

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
loading...
Loading, please wait...

Johannesburg - The war on consumer overindebtedness is about to get very bloody.

Government has finally released draft legislation for a cap on credit insurance – something advocated for by Treasury.

The proposed maximum, released on Friday by the department of trade and industry (the dti) is far lower than the rates currently being charged by credit providers, including major furniture retailers and the sprawling microcredit sector.

Read this for free
South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
Try our free 14-day trial
Already a subscriber? Sign in
heading
description
username
Show Comments ()
Voting Booth
Peter “Mashata” Mabuse is the latest celebrity to be murdered by criminals. What do you think must be done to stem the tide of serious crime in South Africa?
Please select an option Oops! Something went wrong, please try again later.
Results
Police minister must retire
28% - 72 votes
Murderers deserve life in jail
13% - 33 votes
Bring back the death penalty
59% - 150 votes
Vote