Africa Public Radio

Ms. Faith Ngwenya of the South African Institute of Professional Accountants (SAIPA) engages us on the Debt Write-Off Bill that is presently before parliament. She unpacks its contents and what is under discussion. SA Plans To Offer Debt Pardon To Individual With The New Debt Write-Off Bill In The Parliament. The South African Institute of Professional Accountants was one of many entities that made submissions on the draft National Credit Amendment Bill. The debt-intervention powers that are being proposed set out a process that credit providers and credit bureaus must follow when they are lending money and the institute’s submission highlighted certain aspects of the proposal that require further consideration and discussion. Some in the profession are wondering if the intervention is needed at all. Treasury is supporting the proposal that the unsecured debt of particular over-indebted individuals is extinguished completely as a once-off intervention. The group of people who would Become a supporter of