The new National Credit Act is promulgated in South Africa

In March 2006, the President of the Republic of South Africa signed off the National Credit Act, which will revolutionise the credit industry in that country. In a nutshell, the new Act requires that:

* All providers of credit apply to be registered as a Credit Provider;
* A National Credit Regulator be appointed to control the provision of credit;
* A Credit Tribunal be established to adjudicate disputes;
* Regular forms and statistical returns be submitted by registered providers;
* Consumers be protected from reckless granting of credit;
* All staff of Credit Providers be formally trained in all aspects of the new Law.

The Act repeals South Africa's old outdated Usury Act and Credit Agreements Act. In place of the Usury Act, the National Credit Act prescribes the maximum rates of interest that may be charged to consumers.

For further details regarding this very exciting new law, visit www.pbscollege.co.za
Information can also be obtained from this Institute, by e-mailing ICM Africa News

Exciting News

A new Board Member has been co-opted!!

We are proud to welcome Ms Reinette Kotze (Cert CM; MICM) of Windhoek, Namibia to the Board of Directors of the Institute, with effect from 1 September 2007. Reinette is the Credit Manager of Taeuber & Corssen in Windhoek and is presently studying towards her Diploma in Credit Management. Reinette's portfolio will be announced in due course.

The current Secretary of the Institute is Ms Simone Steidler,
who is an accredited trainer in Credit Management.

Recommended Reading

Applied Credit Management - Authors: Christine Jordaan & Pieter Jordaan

A comprehensive study of the practical application of credit management disciplines, based on the National Qualification Framework (NQF) prescribed principles. The book covers the different forms of business ownership, credit information assessment and terms, cash handling and reconciliation, Promotion and marketing of credit, and the handling of defaulted accounts. Cognisance is taken of the requirements of the National Credit Act (Act 34 of 2005)
The following NQF Unit Standards (at NQF Level 3 and 4) are covered:
118036; 118031; 118039; 118040; 118042 and 118044

Publisher: Van Schaik Publishers
ISBN Code: 978 0 627 026911
Distributor:On-the-Dot Distributors +2711 861 668 368 E-mail: On-the Dot Distributors
Or contact the authors at: +2711 781 9727 E-mail: Christine Jordaan

Supervision of Credit Management - Authors: Christine Jordaan & Pieter Jordaan

The authors give a clear understanding of the principles of Planning, Organising, Leading and Controlling of the Credit Management function, based on the National Qualification Framework (NQF) prescribed principles. The book covers the Planning, leading, organising and controlling requirements, the various management tiers in an organisation and trends, measurement and motivation of staff. An in-depth study of the detection of fraud in the credit department, as well as the handling of whistle-blowing is discussed. Cognisance is taken of the requirements of the National Credit Act (Act 34 of 2005)
The following NQF Unit Standards (at NQF Level 4 and 5) are covered: 10981; 13944

Publisher: Van Schaik Publishers
ISBN Code: 978 0 627 02692 8
Distributor:On-the-Dot Distributors +2711 861 668 368 E-mail: On-the Dot Distributors
Or contact the authors at: +2711 781 9727 E-mail: Christine Jordaan