ANC welcomes DTIC's move to withdraw draft amendments to National Credit Act

JOHANNESBURG - The African National Congress (ANC) has welcomed the decision to withdraw draft regulations that could have led to the blacklisting of individuals with historic student debt.

Earlier this week, the Department of Trade, Industry and Competition (DTIC) published amendments to the National Credit Act.

The move sparked public outrage over provisions that would have penalised those with student debt, prompting Minister Parks Tau to retract the regulations.

ANC Secretary-General Fikile Mbalula said the withdrawn amendments did not reflect ANC policy, even though they were introduced by the party’s minister.

"Access to education must not be used as a hindrance to future economic opportunities. We therefore welcome the withdrawal of the regulations, and call upon the private sector to continue to contribute to the employment of young people and facilitate their entrance into the labour market without the impediments previously imposed by the National Credit Act."