MYCOMAX has various Industry Partners that work together on integrations in MAXMONEY as well as providing strategic alliance in the Microfinance Industry. The following links offer a wealth of useful information as well as new news and happenings in our industry. Be sure to view the NCR webpage for a review of the NATIONAL CREDIT ACT and the REGULATIONS.
MFSA (MICROFINANCE SOUTH AFRICA)
As Mycomax works towards its vision of dominating the Market with our SINGLE MANAGEMENT SOLUTION we are constantly searching for ways to enhance our already successful Solution. Today we are the only service provider that offers all the elements of running your Micro Finance Office.
During 2010 Mycomax extended the Single Solution Strategy to its Pricing Strategy. In this approach you pay a single price per office for access to MAXMONEY.
To further enhance and add value we are proud to announce that we have negotiated an inclusive deal with MFSA (Micro Finance South Africa). From the 1st of August 2011 all Mycomax Clients will become automatic members of MFSA. This means that you will save your monthly membership payment to the MFSA. All your branches’ registration will be facilitated by Mycomax.
MFSA is a representative body of registered and legal Micro Finance Credit Providers in South Africa. They are the ‘Recognised Voice of Reputable Micro Financiers in South Africa’, and they represent almost 1500 Micro Credit Providers registered with the National Credit.
Their Vision is to ensure a sustainable Microfinance Industry and they are committed to promoting the interests of all members and their clients through:
- Continuous advocacy
- Creation of development and growth opportunities
- Facilitation of member interaction
The MFSA Contact Sessions and AGM’s are excellent platforms for professional interaction, networking and promotion of business products and services.
We, at the Mycomax, firmly believe in the role that MFSA plays in ensuring a sustainable Micro Finance industry. Please feel free to participate in discussions with them, attend the AGM and yearly contact sessions, confident that you are a full and paid-up member!
All thanks to your Single Solution Service Provider: Mycomax!
NCR (NATIONAL CREDIT REGULATOR)
The National Credit Regulator (NCR) was established as the regulator under the National Credit Act 34 of 2005 (the Act) and is responsible for the regulation of the South African credit industry. It is tasked with carrying out education, research, policy development, registration of industry participants, investigation of complaints, and ensuring enforcement of the Act.
NDMA (The National Debt Mediation Association)
The National Debt Mediation Association (NDMA) is a registered NPO, whose aim is to contribute to the healthy provision and consumption of credit that is backed up by effective and cost efficient debt relief solutions and remedies for consumers who are experiencing financial hardship.
Our Objectives are to:
1. To empower consumers with information and advice on managing credit and over indebtedness through the National Responsible Credit Helpline;
2. To provide effective debt relief solutions to consumers who are experiencing financial hardship, are behind with their repayments, are under threat of legal action or who have debt related disputes with their credit providers;
3. To assist employers to implement effective and lasting programs to manage over indebtedness in the workplace;
4. To establish partnerships with various organizations, regulators, government and the media to implement joint education and related programs;
5. To contribute to changes in policy, legislation and market practices through case analysis and advocacy;
6. To subscribe to and practice the values of responsible conduct, fairness, independence, trustworthiness, and empathy.
THE CREDIT OMBUD
The Office of the Credit Ombud resolves complaints from consumers and businesses that are negatively impacted by credit bureau information or when a consumer has a dispute with a credit provider, debt counsellor or payment distribution agent.