“VUT’s Accountancy Dept hosted NCR Expert Talk on personal credit & debt, empowering students and staff with financial literacy for sustainable wellbeing”
29 September 2025 | Story By: Maswoba Raludzingana | Picture: Supplied
2 minutes read time.
On 23 September 2025, the Department of Accountancy at the Vaal University of Technology (VUT) hosted an online workshop, NCR Expert Talk: Personal Credit and Debt Management. Prof Johannes Maseko, Head of Department, and Dr Natasha Robbetze, Senior Lecturer, led the session. Prof Maseko welcomed participants and underscored the importance of strengthening financial literacy among students, staff, and the wider community. He noted that, in the context of rising consumer indebtedness in South Africa, a deeper grasp of credit regulation, debt risks, and personal responsibility is vital.
The keynote address was delivered by Miss Winnie Rabathata, a Communications Professional and VUT alumna with expertise in financial education. She began by outlining the mandate of the National Credit Regulator (NCR), which regulates credit providers, credit bureaus, and debt counsellors; educates consumers; investigates complaints; and enforces compliance with the National Credit Act.
Miss Rabathata emphasised that the NCR also provides free services to empower consumers with knowledge about their rights and obligations, while promoting transparency and fairness in the credit market.
Sharing sobering statistics, she revealed that while 18.49 million South Africans are able to meet their debt obligations, approximately 10.41 million are either blocked or undergoing debt counselling. She highlighted the fragility of many households’ financial positions, urging participants to prioritise timely repayments to safeguard their credit standing. She also warned against “too good to be true” schemes, encouraging vigilance, reporting of suspicious activity, and reliance on verified sources.
She further addressed the dangers of over-indebtedness, which occurs when expenses surpass income. Attendees were encouraged to adopt realistic budgeting strategies, resist social pressures to maintain appearances, and put financial health above image. She distinguished between “good” debt (borrowing for growth or necessity) and “bad” debt (borrowing under harsh conditions or for consumption). Importantly, she recommended seeking professional help, such as debt counselling or restructuring, before debt spirals into repossession or financial crisis.
In his closing remarks, Prof Maseko expressed gratitude to Miss Rabathata for her clear and practical insights. He reaffirmed the Department’s commitment to promoting financial education through workshops, resources, and dialogue. The session left participants with a deeper appreciation of consumer rights, the need for transparency in financial dealings, and the practical steps individuals can take to protect and manage their economic wellbeing.