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ENQUIRIES about debt counselling have grown significantly this year, according to the National Debt Counsellors’ Association, with some debt counselling firms recording increases of more than 30%. Association chairperson Benay

Sager says the increasing numbers are not unexpected given the effect of successive lockdowns on the economy. “Loss of income, salary reductions, bonuses and incentives that have been reduced or not paid at all, combined with payment holidays coming to an end and already high levels of household debt meant people who were previously just about getting by no longer could,” he said.

TELKOM has launched Africa’s first Mastercard virtual card for use on Whatsapp. This move is expected to empower millions of South Africans – even those without a bank account – to access the digital economy and transact online. Launched last year, Telkom Pay is a digital payments wallet that enables its users to make and receive payments using Whatsapp. With the addition of the Mastercard virtual card to the wallet, users can now make payments to local and global online merchants that accept Mastercard. Users receive a virtual prepaid card, including a 16-digit card number, security code and expiry date.

A RECENT matter to come before the Financial Services Tribunal has highlighted the necessity for certified copies of documents to be authenticated against the original documents. Patrick Bracher, director at Norton Rose Fulbright, reports that the tribunal upheld the debarment of a financial services representative who, as a favour to a co-employee, had certified certain documents as copies of the original without having seen the original documents. “She failed to ensure that she complied with the statutory requirements for certifying copies made mandatory on her through her position as a Commissioner of Oaths,” Bracher says. “This is an all too frequent procedure, and it must be realised that it is dishonest and can have consequences.”