2. welcome

3. MFSA Member & Service Provider meeting
22 September 2016
Protea Hotel Midrand

4. AGENDA Time Agenda Items 10:00 Welcome and Introductions
MFSA Industry Update
Legal Update
Rates & Fees
Declarator: Deferred amount
Strategic Fund
Discussion and Closure
13:00
Lunch

5. Welcome MFSA Members & Service Providers

7. MICROFINANCE SOUTH AFRICA
The recognised voice of Reputable Micro financiers

8. MISSION
Promoting the interests of all members and their clients through: Advocacy Member interaction Development

9. Ensuring a sustainable Microfinance Industry
VISION
Ensuring a sustainable Microfinance Industry

10. Professionalism Ethical Conduct Client Care
VALUES
Professionalism Ethical Conduct Client Care

11. If you think big, then it’s going to be big. E. Lagasse

12. A goal without a plan is just a wish. A. de Saint-Exupéry

13. The path to success is to take massive, determined actions. T. Robbins

15. Politics

17. Everything affects everything

18. MFSA POSITION

19. Membership

20. MFSA Members: Aug 2016

21. Offices Since March 2013

22. We are turning 21

23. Attendance & support required
MFSA Outreach
21 Sessions
All 9 provinces
Attendance & support required

24. Strategic Session November
MFSA Board Members & Management
Strategic Discussions and focus areas for 2017

25. Where do you want to see change?

27. On our Desk

28. Membership: Services we are busy with
Compliance Manual
Tribunal Case booklet
Search & Seizure Process update
Credit Policy
Deferred Amount opinion
Rates and Fees interpretation opinions
Training for Credit Providers
Consumer Education material
LOCKED WEBSITE

29. MFSA Industry Update

30. Critical Matters Credit Life Data SASSA Legal Collections
Payment Systems
National Credit Regulator
Deferred amount
Rates and Fees

31. Credit Life

32. Data

33. South African Social Security Agency (SASSA)

34. Legal Debt Collection

35. Payment Systems

36. NCR Relationship

37. What are they up to?

38. Consumer is KING to them

39. We are here to serve BUT We are not slaves

40. If consumer is king… what about business
Microfinance Industry

41. Deferred Amount

42. Deferred Amount NCR Circular NCR can give non-binding opinions
Tribunal matter
MFSA approached attorney

43. OUR Actions
Legal Opinions
NCR engagement
Legal Strategy to follow

44. Legal opinions received
Interest may be charged on amounts that become due and which amounts includes those mentioned in the sections Henk Cilliers

45. Legal opinions received
The NCR’s reliance on section 102, as mentioned in the Notice 15 is not a basis to determine that in respect of unsecured and short term loans, the initiation fees cannot be deferred and interest cannot be charged on it.
JA Augustyn

46. Court application Filed: Declarator
Initiation Fee (deferred amount),
pro-rata service fee

47. Progress NCR & DTI has apposed declarator
Another party approached court for declarator
Cases will not be joined
MFSA to proceed with MFSA application

48. Rates and Fees

49. We will proceed with review!!
The Judge stated that the review process was in the public interest. The Judge explicitly stated that the parties will be well advised to approach the DJP of this division to arrange for case management of the review part of the MFSA application and for the allocation of a preferential date for the hearing thereof.

50. Important dates Applicant: Supplementary affidavit:
1 July 2016
Respondent: Supplementary affidavit:
29 July 2016
Applicant: Replying affidavit:
15 August 2016
Applicant: Heads of Argument:
5 September 2016
Respondents: Heads of Argument:
19 September 2016
Hearing:
11,12,13 October 2016

51. Process and Road Ahead Heads of argument filed
Dti & NCR Heads of argument received
Prepare for court case
Hearing:
11,12,13 October 2016

52. Judge has been assigned
Hounourable Mr Justice AA Louw

54. Funding Required

55. Risk MFSA Financially responsible Association;
Board members has fiduciary duty

56. Funding Funding Required:
Est R3.5 million
R2 million has been received
Rates & Fees
Deferred amount
Free Riding will be unfair and possibly fatal
If no contributions received – must abandon process

57. Financial Pledge and Commitment
Pledge: R
Received: R
Still need: R
R3000 per branch

58. Members Contribution Number of offices Number of entities June % Value
One office
356 92
26% R
2 - 10
105 35
33% R 9 5
56% R 3 1
R12 000 2
50% R
100+
100% R
CPO
R10 000

59. MFSA Contribution Number of Offices % 719 60% 467 40% No pledges
Commitments
467
40%

60. Service Provider Contribution
8 Service providers out of 28 contributed
Amount: R
Service Provider 1: R
Service Provider 2: R50 000

61. MFSA Funds have been used for process, in excess of R600 000 This is an Extra-ordinary Expense

62. We still require at least R1.5 million

63. DTI & NCR OPPOSING BOTH MATTERS
What will this pay for?
Review: Rates and Fees
Advocate & Attorney
Preparation work
Court appearance
Declarator
DTI & NCR OPPOSING BOTH MATTERS

65. We need

66. Members mandated MFSA

67. This is very serious

69. Justice need to be done
Nobel Prize in Literature

70. War Room Discussion

71. Collaborative approach

72. Proposals & Suggestions Required

73. Pledge Forms

75. MFSA Contact Details 012 346 1081 Uncial Haupt: info@mfsa
MFSA Contact Details Uncial Haupt: Dorien Roose: Leonie van Pletzen: Hennie Ferreira: