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  info@ncr.org.za / complaints@ncr.org.za / workshops@ncr.org.za

WELCOME TO THE NATIONAL CREDIT REGULATOR

The National Credit Regulator (NCR) was established as the regulator for the South African credit industry by the National Credit Act (34 of 2005) (NCA). It is tasked with consumer education, research, policy development, registration of industry participants, investigation of complaints and enforcement of the NCA.

The NCA requires the NCR to promote the development of an accessible credit market, particularly to address the needs of historically disadvantaged persons, low income persons, and remote, isolated or low density communities.

The NCR registers and ensures compliance to the NCA by the following industry participants: credit providers, credit bureaus, debt counsellors, alternative dispute resolution agents and payment distribution agents.

WELCOME TO THE NATIONAL CREDIT REGULATOR

The National Credit Regulator (NCR) was established as the regulator for the South African credit industry by the National Credit Act (34 of 2005) (NCA). It is tasked with consumer education, research, policy development, registration of industry participants, investigation of complaints and enforcement of the NCA.

The NCA requires the NCR to promote the development of an accessible credit market, particularly to address the needs of historically disadvantaged persons, low income persons, and remote, isolated or low density communities.

The NCR registers and ensures compliance to the NCA by the following industry participants: credit providers, credit bureaus, debt counsellors, alternative dispute resolution agents and payment distribution agents.

Be smart, mind your money, know your rights webinar

November 2021

The Department of Trade, Industry and Competition (the dtic), together with its agencies, National Credit Regulator (NCR), National Consumer Commission (NCC) and Proudly South African (PSA) will be hosting a joint webinar aimed at educating consumers about their rights and responsibilities whenever making purchases. The webinar comes at a time when consumers are facing considerable financial challenges due to the COVID-19 pandemic. The webinar will take place tomorrow, Thursday, 25 November 2021 from 10:00-12:00.

The Deputy Minister of Trade, Industry and Competition, Ms Nomalungelo Gina says that the webinar comes at a most critical period in the year when consumers are bombarded with offerings that purport to offer bargain deals.

“It is of the utmost importance that we alert consumers on the possible pitfalls they might find themselves in should they not make wise spending decisions. The key principle this season is to ensure that you make your limited funds go a long way and steer clear of offers that seem too good to be true, because more often than not, they exactly are what your instincts say they are,” says Gina.

The CEO of the National Credit Regulator, Nomsa Motshegare advised consumers who will be taking part in this year’s Black Friday and festive season spending to draft a budget, know your limits and only spend what you can afford to pay back.

She also reminded consumers that cash is king, especially for purchasing consumables such as food, clothing, airtime, data and entertainment. Remember, credit comes with interest and other fees such as monthly service fees, once off initiation fees, credit life insurance. Therefore you will end up paying more at the end.

 

The CEO of Proudly South African, Mr Eustace Mashimbye says: “It is important that we manage our finances according to our means. Spending wisely includes making sure that we select locally manufactured and produced goods and services which assist in economic growth and job creation. Buying ‘local’ increases the chances of companies employing more people and more jobs mean more money in the pockets of consumers.”

The Acting Commissioner of the National Consumer Commission, Ms Thezi Mabuza urges consumers to demand goods that are of good quality, in good order and are free of any defects.

“The goods must be usable and durable for a reasonable period of time. If you suspect that goods received or upon collection might have defects, do not take delivery. I want to remind consumers to also exercise caution when buying online as they might be transacting with scammers masquerading as legit businesses. Always try to use reputable suppliers where possible”, she adds.

All the stakeholders seek to encourage consumers to participate and acquire sound knowledge that will assist in managing their finances during Black Friday and festive season.

Invitation link: https://zoom.us/webinar/register/WN_3Bp2Fa8yQ_2zQkG9HOFXWg

Enquiries:
Bongani Lukhele – Director: Media Relations
Tel: (012) 394 1643
Mobile: 079 5083 457
WhatsApp: 074 2998 512
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Issued by: The Department of Trade, Industry and Competition (the dtic)
Follow us on Twitter: @the_dti

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Alternative Dispute Resolution Agents
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8667
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1690
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Contact details

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127 - 15th Road
Randjespark
Midrand
1683

Physical Address
Call-Centre, Complaints and Investigations Department
232-15th Road
Randjespark
Midrand
1683

Consumer Rights

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Operating Hours

Mon - Thur : 8AM - 5PM
Friday : 8AM - 4:30PM

Call Centre
0860 627 627

Telephone
011 554 2700

National Credit Act

Download the National Credit Act
National Credit Amendment Act
National Credit Regulations
Background Documents on the NCA

 

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