The National Credit Regulator announced today that Shoprite is being probed for breaching the National Credit Act and for alleged irresponsible loaning practices.
Shoprite Holdings is South Africa’s largest food retailer and an operator of furniture stores.
CapeTalk’s John Maytham spoke to Wendy Knowler, Consumer journalist at Times Newspaper.
They are accused of firstly granting credit recklessly to consumers, meaning that they give loans to people who cannot afford. Secondly, selling retrenchment and occupational disability cover to pensioners and consumers who are receiving social grants.— Wendy Knowler, Consumer journalist at Times Newspaper
Listen to full conversation on The John Maytham Show: