Molepo v African Bank Limited (NCT/282044/2023/141(1)(b)) [2024] ZANCT 30 (15 September 2024)

Molepo v African Bank Limited (NCT/282044/2023/141(1)(b)) [2024] ZANCT 30 (15 September 2024)

The Tribunal found that the respondent complied with all statutory requirements under the National Credit Act and its regulations. The respondent obtained and considered the applicant's credit profile, income, and expenses, and provided a pre-agreement statement outlining the risks and costs of the credit. The applicant did not provide convincing evidence that she disclosed additional credit obligations or that she was mentally incapacitated at the time of entering the agreement. The NCR's independent affordability calculation showed a significant surplus after deducting all expenses and the new instalment, indicating that the applicant was not over-indebted. The Tribunal concluded that...

Citation
[2024] ZANCT 30
Parties
Applicant: Naledi Mamorongwa Molepo; Respondent: African Bank Limited
Court
National Consumer Tribunal
Jurisdiction
South Africa
Judgment Date
15 September 2024
Case Number
NCT/282044/2023/141(1)(b)
Procedural Posture
Review Application / Merits Hearing Before the Tribunal
Outcome
Application dismissed.
Judges
MC Peenze, Z Ntuli, S Mbhele
Legal Topics
National Credit Act, Reckless Lending, Affordability Assessment, Over Indebtedness
Banking and Finance Civil Procedure National Credit Act Reckless Lending Affordability Assessment Over Indebtedness

Case Brief

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Parties

Naledi Mamorongwa Molepo

Applicant

African Bank Limited

Respondent

Procedural Posture

Review Application / Merits Hearing Before the Tribunal

Legal Issues

  1. 1 Whether the respondent conducted a proper affordability assessment as required by the National Credit Act.
  2. 2 Whether the applicant was over-indebted at the time of entering into the credit agreement.
  3. 3 Whether the respondent granted credit recklessly in contravention of the National Credit Act.

Ratio Decidendi

The Tribunal found that the respondent complied with all statutory requirements under the National Credit Act and its regulations. The respondent obtained and considered the applicant's credit profile, income, and expenses, and provided a pre-agreement statement outlining the risks and costs of the credit. The applicant did not provide convincing evidence that she disclosed additional credit obligations or that she was mentally incapacitated at the time of entering the agreement. The NCR's independent affordability calculation showed a significant surplus after deducting all expenses and the new instalment, indicating that the applicant was not over-indebted. The Tribunal concluded that...

Court Disposition

Application dismissed.

Orders

  • The application is dismissed.
  • There is no cost order.