An overview of debt relief policy in South Africa
Since 2015, the Department of Trade and Industry (the dti) has considered preventative measures in an attempt to reduce and prevent future household over-indebtedness.
A Portfolio Committee on Trade and Industry was instituted to investigate the possibility of a debt relief programme.
A breakdown of South Africa's debtors book
As part of the legislative process public hearings were held in January 2018. The submissions to the Committee raised some critical questions, including:
Download our full pdf on the potenital impacts of debt relief and our one page factsheet
The Australian Securities and Investment Commission (ASIC) implemented a review of credit card lending in the Australian market between 2012 and 2017. A report (REP 580) and consultation paper (CP 303) have been issued.
© 2018 KPMG Services (Pty) Limited, a South Africa private company and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.