President elect, Jacob Zuma has a tough task ahead of him. He successfully led the ANC to victory in last month’s elections with sweeping promises to help the poor, but he will be entering office under pressure to deliver in a faltering economy.

Despite new regulations that forbid credit, lenders to withhold consumers’ bank cards, ID books or PIN numbers, (section 133 of the National Credit Act) there are still some lenders who believe they are above the law.

This blatant disregard for the law led to the arrest of three credit lenders in Rustenburg in North West Province. The National Credit Regulator (NCR), together with the South African Police Service and the North West Consumer Affairs, conducted ten joint on-site investigations and discovered three lenders had contravened the NCA.

While the NCR is considering enforcement actions against the offenders - two of whom are repeat lawbreakers - the SAPS will follow their own procedures.

“We have to root out this kind of behaviour and there will be more investigations in different areas,” says Jan Augustyn, Manager for Investigations and Prosecution at the NCR.

• In February credit to the private sector rose just more than 11 percent year on year, from 11.9 percent in January and a peak of 27.5 percent in October 2006. 
• Consumer price inflation peaked at 13.4 percent in August. Its downward trend to 8.1 percent in January was halted when it rose to 8.6 percent in February.