The FCM whole-heartedly supports the obligation of the Credit Industry to abide by a Code of Conduct. The project started with a SAFARI into the Credit Industry hosted by Corporate Rebels on the 15 and 16 of February 2017.


Dr Tjaart van der Walt - Corporate Rebels
Michael Lawrence - National Clothing Retail Federation
Darrell Beghin - SA Credit and Risk Reporting Association
Eugenè Joubert - Federation of Credit Management SA
Paul Slot - Debt Counsellors Association SA
Jan Janse van Rensburg - Law Society of SA
Herman Joubert - Payment Distribution Agents SA
adv Neville Melville - Consumer Goods and Services
Riaan de Swardt - EDO PS Stakeholders Forum
Esti van Wyk de Vries - South African Reserve Bank
Mike Reilly - Credit Bureau Association
Frans Haupt - UP Law Clinic
Hennie Ferreira - Micro Finance SA
Marius Jonker - Association of Debt Recovery Agents
Ingrid Goodspeed - Independant Consultant
Cas Coovadia - Banking Association SA
Jan Augustyn - Advocate of the High Court SA
Siphamandla Kumkani - Credit Law and Policy - DTI
Katherine Gibson - Financial Sector Conduct - NT
Brett van Aswegen - Wonga
Illana Melzer - Eighty 20
Rudi Pretorius - National Motor Finance Association

Panelists in addition to the Presenters
Rudolph Willemse - LNBL
Ronel Lewies - Attorney - Lewies Attorneys
Gabriel Davel - Consultant (previous NCR)
Marina Short - CEO - CPB
Nicky Lala Mohan - Credit Ombud
Lesiba Mashapa - Secretary NCR
Dave van Niekerk - CEO - MyBucks
Adv Reinard Michau - Senior Advocate
Prof Bernadene de Clercq - UNISA

E.mail us and we will send you the executive summary of the SAFARI

We do have one solution, but it is limited to Consumer Credit within the ambit of the National Credit Act. Section 48A was inserted into the National Credit Act (34/2005) by the promulgation of section 16 of Act 19 of 2014 on the 13th March 2015.

Section 48 (A) (1) The Minister may prescribe a code of conduct contemplated in section 48(1)(b), only after the National Credit Regulator has -
(a) published the proposed code of conduct for public comment;
(b) considered any submissions made during the public comment period;
(c) consulted with -
(i) persons conducting business within the relevant industry; and
(ii) relevant accredited persons; and
(d) made any revisions to the proposed industry code as published for comment.
(2) A code of conduct must be consistent with the purposes of this Act.
(3) The National Credit Regulator -
(a) must monitor the effectiveness of any code of conduct issued in terms of this Act; and
(b) may reasonably require persons conducting business within the relevant industry to provide information necessary for the purposes of -
(i) monitoring in terms of paragraph (a); or
(ii) reviewing the effectiveness of a prescribed code of conduct relative to the purposes of this Act.
(4) A registrant must not, in the ordinary course of business, contravene an applicable code of conduct as contemplated in section 48(1)(b).

At first glance it seems that the Code of Conduct, referred to in section 48A, pertains to only a code of conduct referred to in section 48(1)(b) namely a code of conduct that has bearing on “the commitments, if any, made by the applicant or any associated person in connection with combating over-indebtedness and compliance with a prescribed code of conduct as well as affordability assessment regulations made by the Minister on the recommendation of the National Credit Regulator”. Reading it a second time it seems to stand on its own with merely a referral to sec 48(1)(b).