For many South Africans, taking out a loan is no longer just a financial lifeline - it has become a source of mounting frustration and, in some cases, financial hardship. From disputed balances and unauthorised charges to debt collection practices and poor customer service, consumers are increasingly finding themselves in battles with credit providers.
Now, the National Financial Ombud Scheme NFO says these are not isolated incidents. In its 2025 Annual Report, the ombud has identified what it describes as a growing pattern of alleged abuse of power by some credit providers, warning that the pursuit of profit is, in too many cases, taking precedence over fairness and responsible lending.
Lead Ombud for Banking and Credit at the NFO, Nerosha Maseti, warned that the increase in successful consumer complaints points to a deeper problem within parts of the credit industry.
