TOO TRUE!

Finweek English Edition - - FEEDBACK - Khanya Ngonyama

I couldn’t stop nod­ding my head as I was read­ing the ar­ti­cle by Dr Gavin Sy­manowitz en­ti­tled The cause of our f inan­cial prob­lems (7 March).

The fur­ni­ture re­tail­ers and mi­crolen­ders use credit life poli­cies to push up loan re­pay­ments while pro­tect­ing them­selves. The NCA is a piece of leg­is­la­tion that seems to be in­creas­ingly dis­re­garded by lenders.

Per­sonal f inance needs to be in­te­grated into our ed­u­ca­tion sys­tem as this will help to in­crease the na­tional sav­ings rate and hence help to in­crease the tax base while al­le­vi­at­ing poverty.

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