The National Credit regulator has confirmed it has handed over Shoprite to the National Consumer Tribunal for breach of the National Credit Act on findings of reckless lending practices.
Summit Financial Partners was at the forefront of an investigation that exposed Lewis Stores for similar practices.
The Money Show’s Bruce Whitfield interviewed David Woollam, Director at Summit Financial Partners.
Woollam discussed how broad this practice is among South Africa’s largest retailers.
Listen to the audio for more detail.