July 2004* Cooperatives Banks Bill (Nov. 2004)
* Final Draft of National Credit Bill (November 2004)
* SACCOL newsletter December 2004 (2.0 meg .pdf file)
* SACCOL Total Assets, Net Loans, Savings deposits and Total Capital
* SACCOL membershipOn the 15th November 2004 Cabinet approved, for discussion the Cooperatives Banks Bill. Comments around the bill are required before the 17 January 2005
To download a copy of the Draft Cooperative Banks Bill click here (255kb.pdf file)
To download a copy of the Memorandum to the Bill click here (72kb.pdf file)
To download a copy of the Notice for public comment click here (88kb.pdf file)
Also posted on the web site is SACCOLs response,thus far, to the Bill: click here
Please note that all the files are in .pdf format and require Acrobat Adobe to be read. You can download Acrobat reader from the following address: http://www.adobe.com/products/acrobat/readstep2.html
Final Draft of National Credit Bill
The National Credit Bill is intended to replace Usury and Credit Agreement Acts and the exemptions that allow micro credit as well as to create a single system of regulation toward all credit activity. It also intended to replace the MFRC.
The purpose of the Bill is:
Initial comment have already been received for on what was initially tabled as the CONSUMER CREDIT BILL. Based on all the responses received, the Consumer Credit Bill has been re-tabled as the NATIONAL CREDIT BILL.
- Promote an efficient credit market accessible to all
- Ensure consistent treatment of different credit products and providers (functional regulation)
- Encourage responsible borrowing and discourage reckless lending to prevent over indebtedness
- Address imbalances in negotiating power between consumers and credit providers
- Improve credit information and reporting
- Regulate credit bureau
- Provide for a system to resolve disputes
- Provide for a system of debt restructuring
Two documents can be downloaded:
1. The National Credit Bill can be downloaded by clicking here (738kb.pdf file and is 220 odd pages long)
2. A power point presentation of a summary of the most pertinent issues in the Bill to affect Developmental Finance Institutions (such as SACCOs, financial Cooperatives and Credit Unions as well as other not-for-profits) written by Ted Bauman can be downloaded by clicking here (107kb.ppt presentation)The best way to view all the files above is to RIGHT CLICK and SAVE AS......into your directory.
SACCOL newsletter (1.952kb.pdf file) DECEMBER 2004The December 2004 edition of the SACCOL newsletter can be downloaded by clicking here. read about:
- The Chairpersons address; saying thanks for a great year
- Legislative update on the Coops Banks Bill
- 5th SACCA Africa Congress in Swaziland
- SADC conference in Zimbabwe
- Study circle workshop in Zimbabwe
- Provincial examination focus in KZN, Gauteng and Eastern Cape
- Organizing SACCOs in the Eastern Cape
- Other news
SACCOL Total Assets, Net Loans, Savings deposits, Total Capital
Note: The peaking of capital in 2001, reflects SACCOs changing from withdrawable share (as capital) to fixed shares and withdrawable Savings accounts
SACCOL continues to grow from strength to strength and over this past year received 15 new applications for membership. Of concern to the SACCOL board has been new members who just don't seem to get going, not withstanding their having put forward good business plans.
In order to better manage the process of new applications, the Board has adopted a three tiered phased approached to membership. Groups will first register as a STUDY GROUP, and once they have completed the requirements for registration will be accepted with PROVISIONAL REGISTRATION. The third step will require a SACCO to be subject to an operational and prudential examination and if all requirements are met will be accepted as a FULL MEMBER.
For a full list, AND UPDATED MEMBERSHIP AND ASSETS FIGURES (as at 28 Feb. 2004) of all SACCOLs registered members go to our members page
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1998 Inside Interactive, Updated D. de Jong 12 Jan 2005.