ONGOING RECKLESS LENDING IN SOUTH AFRICA: MINISTERS’ WISH LIST TO END ABUSE OF DEBT

Abstract

The paper attempts to summarize the issues that permeate reckless lending in South Africa. In so doing it attempts to discuss the Ministers’ wish list to end abuse of debt. Considering the impact of over – indebtedness on households, the ministers of finance and of trade and industry issued a statement that reads like a wish list of all that needs to be done to stamp out abusive practices, but an action plan has yet to be drawn. The paper discusses this through the use of newspaper articles in the main and delineates the definition of debt