Letshego moves to curb high indebtedness

Presenting the financial results for the half year ended 31 July 2014, Letshego Holdings Managing Director, Chris Low said as the government has raised a concern about high levels of indebtedness, they have introduced a central system in which they limit the amount and number of loans a customer applies for.

“We are working with the government to set limits on indebtedness. We have the credit reference check system, which allows the customer to have only one loan at a time. There is inbuilt checks and balance in the system, we do not encourage high indebtedness,” he said.