Thank you, Chair.
Die VF Plus is 'n party wat glo dat die vryemark beskerm moet word en onbelemmerd moet funksioneer. Tog is daar gevalle waar 'n onbelemmerde mark geweldige ontberings kan veroorsaak. Dit is dan ook die geval met kredietverlening. (Translation of Afrikaans paragraph follows.)
[The FF Plus is a party which believes that the free market should be protected and must operate unrestricted. Yet there are instances where an unrestricted market can cause enormous hardship. This is also the case with the granting of credit.]
No modern economy can function without credit. However, there must be a balance between credit exposure and savings. In that regard we are quite positive about the Minister of Finance's plan to increase savings and provide for compulsory retirement planning.
As for the credit industry itself, and given the abuses that take place, we welcome the National Credit Amendment Bill as an instrument which strengthens consumer rights.
As much as we do not agree with excessive market intervention, we also recognise that protection against unscrupulous creditors is required. Creditors also need to be protected against themselves, as reckless credit provision harms them and ultimately, on a collective basis, harms the country as a whole.
Suid-Afrika se ekonomiese uitdagings kan soveel beter aangepak word indien ons meer sou spaar. Aan die een kant beteken dit dat roekelose kredietverlening ingeperk moet word, en aan die ander kant dat kredietverskaffers wat wel hieraan deelneem, gestraf moet word.
Dit is veral die banke en mikroleners wat te maklik krediet toestaan en dan sonder genade toeslaan op verbruikers wat gewoonlik nie geletterd genoeg is om te verstaan wat die implikasies van die lenings is nie.
Dit het veral in Marikana sy kop uitgesteek. Daar is egter nog baie Marikana's wat wag om te gebeur en daarom is die wysigings op die Kredietwet van groot waarde. Die kriminalisering van onwettige heffings sal veral 'n duidelike boodskap aan kredietverskaffers stuur om nie gewone mense in slawerny van skuld te dompel nie. (Translation of Afrikaans paragraphs follows.)
[South Africa's economic challenges could be tackled so much more effectively if we were to save more. On the one hand this means that the reckless granting of credit must be curtailed, and, on the other hand, that credit providers who are party to this must be punished.
It is in particular the banks and the micro lenders who grant credit too readily and who then come down without mercy upon consumers who are usually not literate enough to understand the implications of these loans.
This was particularly evident in Marikana. However, there are still may Marikanas waiting to take place, and the amendments to the National Credit Act are therefore of great value. Criminalising unlawful levies in particular will send a clear message to credit providers not to plunge ordinary people into a slavery of debt.]
As I have stated before, hon Mrs Fubbs, it is a pleasure for me to serve on this committee. We agree on most issues, save for the grave interventions in broad-based black economic empowerment, and it is good to see that together we can fight injustices against consumers. It is after all part of the philosophy of the FF Plus to fight injustice wherever we can.