FIC non-compliance

Sluggish uptake of FIC regulations by credit providers could see severe penalties incurred A timeous exit for South Africa from greylisting by the Financial Action Task Force (FATF) – the global money laundering and terrorist financing watchdog which sets international standards – is in serious jeopardy. This is due to the tardiness of South African …

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Warning signs your credit client may be heading for liquidation

A rise in insolvencies is becoming a growing concern for businesses offering trade credit, with load shedding posing significant challenges, says Frank Knight, CEO of credit management services company Debtsource. While there is no direct correlation between load shedding and business insolvencies, additional costs and disruptions caused by power outages can adversely affect cash flow …

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high interest rates

High interest rates mean it’s time to rein in your debtors book

We are entering an environment in which interest rates are increasing quite sharply. South Africa experienced its biggest increase in borrowing rates in almost two decades and was simultaneously warned of a faster pace of hikes through next year. In mid-July the SA Reserve Bank’s monetary policy committee raised the repurchase interest rate to 5.5% …

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