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Fourth Quarter Performance Report 2014/2015

This presentation outlines the fourth quarter performance report for 2014/2015, highlighting key successes, challenges, and corrective actions taken by the National Credit Regulator (NCR). Topics covered include enforcement action, raids conducted, reckless lending investigations, compliance notices issued, consumer education, stakeholder engagement, and challenges related to office space and funding.

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Fourth Quarter Performance Report 2014/2015

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  1. Fourth Quarter Performance Report 2014/2015 Presentation to the Portfolio Committee on Trade & Industry By Ms Nomsa Motshegare, NCR CEO Date: 07.08.2015

  2. NCR Programmes: A Snapshot Fourth Quarterly Performance Report 2014/15 Key Successes & Challenges

  3. To ensure effective implementation of the National Credit Amendment Act (NCAA).

  4. FOURTH QUARTER PERFORMANCE REPORT Reason for variance Corrective action

  5. FOURTH QUARTER PERFORMANCE REPORT Reason for variance Corrective Action

  6. FOURTH QUARTER PERFORMANCE REPORT Reason for variance Corrective Action

  7. FOURTH QUARTER PERFORMANCE REPORT Reason for variance

  8. FOURTH QUARTER PERFORMANCE REPORT

  9. FOURTH QUARTER PERFORMANCE REPORT Reason for variance Corrective action

  10. FOURTH QUARTER PERFORMANCE REPORT

  11. FOURTH QUARTER PERFORMANCE REPORT

  12. FOURTH QUARTER PERFORMANCE REPORT Reason for variance

  13. FOURTH QUARTER PERFORMANCE REPORT

  14. FOURTH QUARTER PERFORMANCE REPORT Corrective action

  15. KEY SUCCESSES & CHALLENGES 2014/15 KEY SUCCESSES • ENFORCEMENT ACTION • 29 Referrals to the National Consumer Tribunal (NCT): “699 Vehicle scheme” (Satinsky) – banks implicated in reckless lending. Plans underway to refer all the implicated banks to the NCT; • Raids conducted in 5 Provinces: Gauteng, the Free State, Eastern Cape, North West & Mpumalanga Provinces. 92 credit providers raided – retrieved 3900 bank cards, SASSA cards & ID books; 17 individuals arrested and criminal cases opened. In Mpumalanga, R1.4million was also seized and a case of money laundering was opened; • Other reckless lending investigations: Online credit providers such as Wonga, Capfin, Boodle and Spotcash; Moneyline Financial Services (using grants as income to extend credit), Ubank, and Bridge Finance (contraventions include unlawful consent to jurisdiction): referred to the NCT; • 23 Compliance Notices Issued: Contraventions included illegal advertisements: OLX, Autotrader, Cash Converters pawn broker, Satinsky; overcharging consumers.

  16. KEY SUCCESSES • CONSUMER EDUCATION & STAKEHOLDER ENGAGEMENT • Advertising Value Equivalent of >R235 million; • 85 Exhibitions, activations, road shows; • 313 Education workshops: Trade Unions, Employers, Traditional Authorities, Government Departments, dti agencies and others; • Varsity and FET Financial Literacy Campaigns: 13 w/shops conducted by NCR jointly with South African Savings Institute in various Colleges and Universities; • Radio: Weekly and Monthly slots provided by Mogale FM and Unisa Radio respectively. • KEY CHALLENGES • Office Space • Funding

  17. Thank You www.ncr.org.za

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