Draft affordability assessment criteria

As part of its plan to curb reckless credit lending the South African Department of Trade and Industry is working on a set of affordability assessment criteria to be published as regulations under the NCA. That is because credit providers must, before granting credit, conduct an affordability assessment.

See the following links for more information on the draft affordability assessment regulations: 

• http://www.sanews.gov.za/south-africa/dti-publishes-draft-affordability-assessment-regulations; 
• https://www.kpmg.com/ZA/en/IssuesAndInsights/ArticlesPublications/Financial-Services/Documents/Draft%20National%20Credit%20Regulations%20for%20Affordability%20Assessment.pdf/.