Court orders scrapping of cap on interest rates (and fees) on short-term loans

The High Court has ordered the National Credit Regulator (NCR) and the Minister of Trade and Industry to set aside regulations that cap interest rates and fees on short-term credit contracts.

It said that the Minister and the NCR failed to consider the effects of such caps on the micro-lending industry as well as the delivery of short-term credit to consumers.

The Money Show’s Bruce Whitfield interviewed Stephen Logan, Founder at Fair Credit.

For more detail; listen to the interview in the audio below.

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on CapeTalk : Court orders scrapping of cap on interest rates (and fees) on short-term loans


Recommended

by THE NEWSROOM
Read More
‘Lifestyle audits’ for all politicians to be the norm, promises Ramaphosa

‘Lifestyle audits’ for all politicians to be the norm, promises Ramaphosa

What is a “lifestyle audit”? The Money Show’s Bruce Whitfield interviewed ENS Africa Director in Forensics Steven Powell.

Hyundai Creta has the best ad ever! Mitsubishi ASX? Not so much…

Hyundai Creta has the best ad ever! Mitsubishi ASX? Not so much…

Advertising expert Andy Rice loves the Hyundai Creta ad, but hates the one for the Mitsubishi ASX.

Discovery profits skyrocket. Sets rough launch date for its new retail bank

Discovery profits skyrocket. Sets rough launch date for its new retail bank

The Money Show’s Bruce Whitfield interviews Discovery Limited Group CEO Adrian Gore.

'Treasury may introduce VAT on fuel, a big money-spinner'

'Treasury may introduce VAT on fuel, a big money-spinner'

The Money Show’s Bruce Whitfield interviews Old Mutual Multi-Managers Chief Investment Strategist Dave Mohr.

400 000 tons of perfectly good glass goes into landfills each year in SA

400 000 tons of perfectly good glass goes into landfills each year in SA

The Money Show’s Bruce Whitfield interviews The Glass Recycling Company CEO Shabeer Jhetam.

Euphonik (one of South Africa's top DJs) opens up about money

Euphonik (one of South Africa's top DJs) opens up about money

Bruce Whitfield talks to Euphonik (aka Themba Nkosi) about his attitude to money (hopes and fears, successes and failures, etc.)

Popular articles
"Duduzane Zuma is the Gupta family's greatest asset"

"Duduzane Zuma is the Gupta family's greatest asset"

Sunday Times journo Thanduxolo Jika who broke the front page story about the Gupta family emails vouches for their authenticity.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

‘My worst fear is being 80 years old and poor’ – famed actor Dr. John Kani

‘My worst fear is being 80 years old and poor’ – famed actor Dr. John Kani

"My earliest memory of money is my father saying, ‘Why do you want to do this thing? How are you going to feed the family?'"

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

5 advantages of leasing instead of owning a car (lower monthly payments!)

5 advantages of leasing instead of owning a car (lower monthly payments!)

Want (or need) a new car? Dale Scorer (a wealth manager at AlphaWealth) reckons you should consider leasing.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?