The National Credit Act (NCA), 34 of 2005, came into full effect on 1 June 2007 to regulate the way in which credit providers grant credit and protect the interest of our valued clients.

The aim of the NCA is further to:

  • Enforce the consumer to disclose the total cost of credit
  • Control the costs of credit
  • Educate consumers and provide awareness relating to credit
  • Provide guidance to consumers in financial distress via a controlled system of debt restructuring
  • Reduce the granting of reckless credit
  • Provide guidance to consumers to prevent them from over-indebtedness
  • Regulate the information in respect of the consumer credit held by the different credit bureaux
  • Present more information to the consumer prior to entering into a credit agreement
  • Maintain a fair, non-discriminatory credit market