The Reserve Bank stats show that the demand for credit moderated after recent increases in credit demand had prompted expectations of the Reserve Bank increasing interest rates to dampen credit demand.
Private sector credit extension (PSCE) rose by an annual rate of 23,17%, down from 24,31% in March, the Reserve Bank said.
Business Day reporting on the Reserve Bank figures quoting Elize Kruger, an economist at Kagiso Securities, the report said: “It’s heartening to see some alleviation in pressure we’ve seen over the last couple of months and I think the Reserve …

In line with our undertaking to try ensure the credit management profession are up to date with all the articles appearing on the new National Credit Act, we point you to the article by Tonny Mafu in the Business Report.
The article looks at the National Credit Act from a consumer perspective with Manie van Schalkwyk, the current ombuds for credit information, and Thami Bolani, the chairman of the National Consumer Forum giving their opinion on various issues surrounding the National Credit Act.
Van Schalkwyk said the new legislation would improve awareness …

As the main target audience of this blog, credit managers, will be very interested to read the article in the Business Day in which they give the opinion of Véronique Parkin the head of the financial-services practice at the Johannesburg office of Heidrick & Struggles, an international executive-search firm.
In commenting on the skills shortage in the country she points to the fact that while the shortage of engineers and project managers is relatively well know, the shortage of risk managers is something that has not been highlighted in the past. …

I have written numerous articles on the personal liability of members of a deregistered Close Corporation in terms of Section 26(5) of the Close Corporation Act No.69 of 1984.
This was a particularly useful process for creditors dealing with debtors who were Close Corporations that had ceased trading with no real assets and where the creditor did not have a personal suretyship of the members. However it must now be noted that the legislature has changed the provsions of the Close Corporation Act to benefit members of such Corporations by …

We would like to officially welcome all readers to the new-look Credit Management SA at our new domain.
We trust and hope that the new-look blog is not only aesthetically better then the old site but that the improved functionality serves you better in searches on various topics by use of the catagories and search facilities on the sidebar.
Should you have any suggestions as to content or other aspects of the blog please post your comments and we will most take not of them.
In order to celebrate our new-look and …

In a statment from the President of South Africa’s office dated the 9th May 2006, under the title President’s Minute 103, the President and the Cabinet have stated that:
“In terms of Section 173 of the National Credit Act, 2005 (Act No. 34 of 2005), I hereby, by means of the accompanying proclaimations in English and isiZulu, fix -
(a)
1 June 2006
as the date on which sections 1 to 11 (Chapter 1); sectons 12 to 25 and 35 to 38 (Chapter 2 Part A,C and D); sections 39 to 59 (Chapter …

The Business Day has an article looking at some of the consequences of the new National Credit Act, particularly from a consumer perspective.
The article points at the emense impact the Act will have on those granting consumer credit and particularly money lending institutions.
The article also looking at the implemental institution of the Act.