South Africa's National Credit Regulator (NCR) launched a Consumer Rights Month campaign linked to World Consumer Rights Day on 15 March, aimed at educating consumers on their rights and responsibilities under the National Credit Act 34 of 2005. The campaign urges consumers to make informed and ethical credit decisions and to remain alert to loan and debt counselling scams. The release highlights that avoiding over-indebtedness depends not only on consumer rights but also on meeting obligations when entering credit agreements, including honouring contractual terms and providing an honest declaration of income and expenses so credit providers can perform proper affordability assessments. The NCR also advises consumers to read and understand all documents before signing, keep personal information up to date, notify providers of material changes in circumstances, understand complaints escalation processes, monitor account activity, protect sensitive banking and identity information, and avoid signing blank or incomplete forms; it links these messages to the 2025 theme on balancing consumer rights with ethical business practices and to the NCR’s focus on encouraging ethical conduct and National Credit Act compliance across registered credit market participants.
National Credit Regulator 2025-03-21
South Africa's National Credit Regulator launches Consumer Rights Month campaign to promote fair credit and scam awareness
South Africa's National Credit Regulator launched a Consumer Rights Month campaign to educate consumers on their rights and responsibilities under the National Credit Act 34 of 2005. The initiative emphasizes informed credit decisions, scam awareness, and fulfilling obligations in credit agreements. It aligns with the 2025 theme of balancing consumer rights with ethical business practices and encourages compliance among credit market participants.