My suggested solution will not be popular with those that believe that credit is part of empowering the poor.

We MUST cap interest rates far far lower and apply it even on the smallest amounts.   The likes of Capitec and those even worse than them will stop pay day lending when they cannot get away with 35% interest rates.    People are trapped on a treadmill of lending to repay lending.

Fees charged on loans (including life, funeral, retrenchment, toe-stumping, whatever insurance) should be deemed interest.

Please don't come to me with inspiring stories how Capitec helps education by lending parents money to pay school fees and buy books.    There is no state school that is allowed to refuse an interest free payment plan.

I see the other side : the garnishee orders on low income families after Capitec scum lawyers unethically obtain unaffordable orders.