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NATIONAL CREDIT REGULATOR Annual Report 2013/2014 First Quarter Performance Report 2014/2015 Presentation to the NATIONAL CREDIT REGULATOR Annual Report 2013/2014 First Quarter Performance Report 2014/2015 Presentation to the Portfolio Committee on Trade & Industry By Ms Nomsa Motshegare, NCR CEO Date: 16. 09. 2014

OVERVIEW OF PRESENTATION 1. Performance against Annual Targets 13/14 2. First Quarterly Performance Report OVERVIEW OF PRESENTATION 1. Performance against Annual Targets 13/14 2. First Quarterly Performance Report 14/15 3. Financial Information 4. Key Successes and Challenges 2

PERFORMANCE AGAINST ANNUAL TARGETS Strategic Objective 1 (SO 1) To promote increased access to PERFORMANCE AGAINST ANNUAL TARGETS Strategic Objective 1 (SO 1) To promote increased access to credit through responsible credit granting. Output Targets to be delivered by 31 March Actual 2014 Achievement Implementation plan of the Report on implementation of Achieved research recommendations. Establishment of the - Produce final functional specification Achieved National Register of Credit document of the NRCA Agreements (NRCA) - Establish NCRA Steering Committee. Achieved database. Proposal on Affordability Develop proposal on affordability Achieved Assessment Guidelines. assessment guidelines. 3

PERFORMANCE AGAINST ANNUAL TARGETS cont. Strategic Objective 2 (SO 2) To protect consumers from PERFORMANCE AGAINST ANNUAL TARGETS cont. Strategic Objective 2 (SO 2) To protect consumers from abuse and unfair practices in the consumer credit market and address over-indebtedness Output Targets to be delivered by 31 March Actual 2014 Achievement Implementation report of the Produce a report on implementation Achieved consumer rights awareness of the strategy. Implementation report of the Produce a report on implementation Achieved approved Enforcement strategy. of the strategy. Implementation report of the stakeholder strategy. 4 Produce a report on implementation Achieved of the strategy.

PERFORMANCE AGAINST ANNUAL TARGETS cont. Strategic Objective 3 (SO 3) To continually enhance a PERFORMANCE AGAINST ANNUAL TARGETS cont. Strategic Objective 3 (SO 3) To continually enhance a consumer credit market regulatory framework Output Targets to be delivered by March 2014 Actual Achievement Credit bureau compliance Assessment reports. 2 credit bureaus’ investigations conducted & enforcement action taken in terms of section 43, 70, 71 , 72 and regulations 17 to 20 of the NCA. (Registration; receipt & retention of info. ) Achieved Approved and implemented on- On-site guidelines to be approved and 12 Exceeded site visit guidelines. on site visits to be conducted. On-site visit guidelines approved and 14 on-site visits Reason for conducted. variance On-site guidelines approved and implemented a month in advance. 5

Performance against the annual performance plan PERFORMANCE AGAINST ANNUAL TARGETS cont. Strategic Objective 4 Performance against the annual performance plan PERFORMANCE AGAINST ANNUAL TARGETS cont. Strategic Objective 4 (SO 4) To monitor and improve NCR’s effectiveness in fulfilling its mandate Output Performance Targets to be delivered Actual Achievement measure or indicator by 31 March 2014 Stakeholder assessment surveys conducted to improve service delivery. Functional new Information and Communication Technology (ICT) System. 6 Percentage of the 50% positive response Achieved positive rate. response rate. -Functional Complaints Achieved Complaints ICT sub system. -Go live registrations Not achieved -Go live report on sub system. Registrations sub system registrations sub did not go live as planned. Reason for variance system. ICT technical problems identified. Project on hold.

FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR Output Performance Annual Targets 1 st Quarter FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR Output Performance Annual Targets 1 st Quarter milestone Actual Measure or Achieveme Indicator nt SO 1: To promote increased access to credit through responsible credit granting Increase awareness of No. of 9 workshops N/A affordability workshops conducted on - Affordability assessment regulations. conducted. affordability assessment regulations assessment not yet in force regulations. - Were published for comment in August 2014. Reduce cost of credit Study Conduct a study Procure the services of a Achieved for consumers conducted on to review the service provider to Levels of the current levels of conduct the review. cost of credit. the cost of credit. 7

FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. Output Performance Measure or Indicator Annual FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. Output Performance Measure or Indicator Annual Targets 1 st Quarter milestone Actual Achievement SO 2: To protect consumers from abuse and unfair practice in the consumer credit market and address over-indebtedness Conduct reckless No. of 15 3 lending compliance Compliance investigations and certs/ notices issue notices/compliance issued. certificates where applicable. 8 Exceeded 6 compliance notices issued. Reason for variance Implemented new strategy to combat unlawful advertisements

FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. Output Performance Measure or Indicator Annual FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. Output Performance Measure or Indicator Annual Targets SO 3: To enhance a consumer credit market regulatory framework Conduct investigations and take enforcement action on credit bureaus. Conduct compliance on site visits Number of investigations and enforcement action taken. 1 st Quarter milestone 2 Credit bureaus Draft terms of investigated and reference. enforcement action taken. Actual Achievement Achieved Number of 18 on site visits * 6 on site visits Achieved compliance on- to be conducted site visits conducted. * Focus areas: Ads & marketing material; Affordability assessments; Removal of adverse consumer credit information. 9

FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. Output Performance Measure or Indicator Annual FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. Output Performance Measure or Indicator Annual Target 1 st Quarter milestone Actual Achievement SO 4: To improve NCR's operational effectiveness Improve operational ICT Implementation of Conduct an Achieved efficiency through recommendations assessment automated processes. implemented. of the ICT on the assessment current ICT system. Increase the number Number of learners 20 Placement Achieved of leaners recruited and training and trained. of learners 10

FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. Output Performance Measure or Indicator Annual FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. Output Performance Measure or Indicator Annual Target 1 st Quarter milestone Actual Achievement SO 5: To ensure effective implementation of the National Credit Amendment Act (NCAA) Create Number and 30 workshops 10 Exceeded 52 workshops awareness nature of with relevant workshops Reason for variance of the awareness stakeholders and NCAA. campaigns monitor The workshops were mainly on the removal conducted. compliance with of adverse consumer credit information. the NCAA. 18 Radio / TV interviews/ News interviews/ print and News print. monitor compliance with the NCAA. 11 Exceeded 50 radio/TV Interviews/news print. Reason for variance Removal of adverse consumer credit information was a topical issue.

FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. SO 5: To ensure effective implementation FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. SO 5: To ensure effective implementation of the National Credit Amendment Act (NCAA) (continued) 5 of the following 2 activities Exceeded activities: 13 exhibitions /road - Exhibitions shows. - Mall activations Reason for variance - Outside broadcast (OB) - Road shows and monitor Removal of adverse compliance with the NCAA. consumer credit information was a topical issue. Conduct special investigations and take enforcement action where applicable. 12 Number of raids Conduct 2 raids in any Commence Achieved conducted on province and take with unregistered enforcement action where planning for credit providers. applicable. the raids.

FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. Output Performance Measure or Indicator Annual FIRST QUARTER PERFORMANCE REPORT 2014/15 FINANCIAL YEAR cont. Output Performance Measure or Indicator Annual Target 1 st Quarter milestone Actual Achievement SO 5: To ensure effective implementation of the National Credit Amendment Act (NCAA) Conduct special Number of 10 investigations on Investigate 5 Achieved investigations large credit providers. entities. and take conducted on removal enforcement of adverse consumer action where credit information applicable. regulations. Number of investigations conducted on unsolicited credit provision and enforcement action taken 13 15 N/A

FINANCIAL INFORMATION Financial Performance - 2013/14 Report of Auditor-General § Unqualified opinion § No FINANCIAL INFORMATION Financial Performance - 2013/14 Report of Auditor-General § Unqualified opinion § No findings on compliance and supply chain management § No findings on performance information 2013/14 (Budget) R million Total Income Expenditure (Deficit) for the year Total Assets 99, 2 2012/13 (Actual) R million 94, 9 93, 5 (124, 9) (121, 0) (109, 2) *(25, 7) (26, 0) (15, 7) 19, 9 64, 0 70, 4 * Deficit funded by reserves 14 2013/14 (Actual)

FINANCIAL INFORMATION cont. Budget Operations Capex Total budget Less funding deficit Actual budget 2014/15 FINANCIAL INFORMATION cont. Budget Operations Capex Total budget Less funding deficit Actual budget 2014/15 (R) 2013/14 (R) Variance (R) 117, 761, 427 117, 479, 709 281, 718 11, 692, 717 19, 918, 172 (8, 225, 455) 129, 454, 144 137, 397, 881 (7, 943, 737) (15, 652, 801) 113, 801, 343 Funding of deficit – 2014/15 (R) Bytes - suspended 7, 000 HR savings 4, 000 2014 Premises - Professional fees (Imp. Assess. ) 15 4, 652, 801 15, 652, 801 - 137, 397, 881 (23, 596, 538)

FINANCIAL INFORMATION cont. Income Fees from registrants* DTI Transfers Other income TOTAL INCOME Expenditure FINANCIAL INFORMATION cont. Income Fees from registrants* DTI Transfers Other income TOTAL INCOME Expenditure Personnel costs Professional fees Counsumer education Debt relief Other expenses TOTAL EXPENDITURE Highlights Actual R Budget R 6, 659, 620 38, 307, 000 925, 786 45, 892, 406 16, 610, 454 868, 636 1, 351, 368 93, 307 Variance R Remaining budget June % 5, 654, 112 1, 005, 508 38, 307, 066 -66 669, 000 256, 786 44, 630, 178 1, 262, 228 15, 877, 986 -732, 468 1, 004, 000 135, 364 1, 524, 384 173, 016 239, 737 146, 430 17. 78 0 38 2. 83 -4. 61 -12. 96 11. 35 83. 92 38, 387, 132 25, 538, 044 2, 331, 000 66, 256, 176 55, 732, 307 15, 634, 425 4, 608, 343 3, 539, 015 3, 641, 647 3, 659, 529 17, 882 -13 15, 745, 533 22, 565, 412 22, 305, 636 -259, 776 -1 95, 259, 623 * Fees collected from registrants exceeded budget by R 1 mil. * Personnel overspent due to filling of existing vacancies sooner than had budgeted for (timing differences) 16

FINANCIAL INFORMATION cont. Items Capital expenditure Projects-ICT* TOTAL Annual Variance Remaining Spent (R) Budget FINANCIAL INFORMATION cont. Items Capital expenditure Projects-ICT* TOTAL Annual Variance Remaining Spent (R) Budget (R) (%) for the year 855, 9 3, 971, 2 3, 115, 27 3, 115, 2 91 63 2 78% 72 7, 721, 4 - 7, 721, 454 100% 54 855, 99 11, 692, 71 10, 836, 72 10, 836, 7 1 7 6 93% 26 Highlights *ICT system currently on hold. 17

KEY SUCCESSES AND CHALLENGES SUCCESSES § Established Credit Industry Forum Enforcement Action: • 23 KEY SUCCESSES AND CHALLENGES SUCCESSES § Established Credit Industry Forum Enforcement Action: • 23 referrals to the Tribunal • Fines imposed of R 1. 8 million • Raids conducted in 3 provinces § Rolled out 3 rd Learnership Programme CHALLENGES § § Consumer education: • Advertising Value Equivalent of § >R 200 m: Across all media channels • 49 exhibitions, activations, road shows • Education workshops: Provincial Consumer Protection Desks; Trade Unions, Universities, Church Groups, Tribal Authorities 18 Funding Office Space Consumer Education: Rural and semiurban areas

Thank You! www. ncr. org. za 19 Thank You! www. ncr. org. za 19