Here’s how South African loan sharks are taking peoples' SASSA grants hostage, and what you can do to protect yourself …
Here’s how South African loan sharks are taking peoples’ SASSA grants hostage, and what you can do to protect yourself …SASSA grant recipients’ cards hostage, whether the elderly or single mothers with newborns, are the target for South African loan sharks, ‘mashonisas’ or ‘skoppers’.
South African loan sharks operate like this mostly in rural or informal areas, like the Eastern Cape. Moreover, the report says no legislation provides recourse for when SASSA grants are being used as collateral. However, experts say the National Credit Act and Consumer Protection Act should protect against South African loan sharks.
Every resident has rights and credit providers have a certain set of responsibilities to uphold. Therefore, charging excessive interest, preying on a customer who cannot afford credit and taking someone’s SASSA, banking or ID document is illegal. Suffice to say, you should not engage with any lender you don’t trust. And never hand over your bank/SASSA/ID document to anyone.
We’ve all seen them on the roads, but have you ever wondered how much Checkers Sixty60 drivers earn per month? SA Weather Service says the heatwave will persist in the coming days with temperatures reaching close to 40°C in some regions.
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