Spotlight on loan sharks, illegal traders
Police intend pinning down on non-compliant liquor traders who fail to comply with the rules of the National Liquor Authority (NLA) and loan sharks that extend loans outside the provisions of the National Credit Act (NCA). This is according to Director of Commercial Law and Policy at the Department of Trade and Industry Desmond Ramabulana …
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Police intend pinning down on non-compliant liquor traders who fail to comply with the rules of the National Liquor Authority (NLA) and loan sharks that extend loans outside the provisions of the National Credit Act (NCA).
This is according to Director of Commercial Law and Policy at the Department of Trade and Industry Desmond Ramabulana who addressed residents of Ga-Maponto and Mutale during an awareness campaign to educate communities on the positive impact of legislation administered by the department on Friday.
He said tavern owners and other alcohol outlets have to act responsibly and in line with the prescription of their business licences. These requirements include the non-selling of alcohol to children and pregnant women, he explained. “Many local liquor traders do not comply with the rules of the NLA as cases have surfaced where under-age children and pregnant women were sold alcohol. We urge everyone within the community to report these transgressions,” a press release quoted Ramabulana to have said.
He further said loan sharks practise dubious collection methods such as seizing clients’ bank cards and identity documents. One of the biggest challenges is that community members protect loan sharks as in some instances they are the sole gateway to accessing credit in this weakening economy. However, the change in legislation will make it easier to close them down and it will be more difficult for the loan sharks to collect their loans as they will be illegal,” Ramabulana stressed.
He advised credit lenders to register because failure to do so could result in the credit agreement being declared null and void. A resident, Simon Molea, reportedly applauded the department for taking time to impart this crucial knowledge to the community.
Story: ENDY SENYATSI
>>endy@observer.co.za