Account of activities for the period January 2006 ... · page 2 • Credit Information Ombud...

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Account of activities for the period January 2006 – December 2006

Transcript of Account of activities for the period January 2006 ... · page 2 • Credit Information Ombud...

Account of activities for the period January 2006 – December 2006

page 2 • Credit Information Ombud Account of Activities 2006 • page 3

CONTENTS

Message of the Chairperson . . . . . . . . . . . . . . . . . . . . . . 4

Report of the Ombud. . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

National Credit Act. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Financial Services Ombud Scheme Act . . . . . . . . . . . . . . . . 5

Financial Ombud Scheme Initiative . . . . . . . . . . . . . . . . . . 6

Ombudsman Association of South Africa . . . . . . . . . . . . . . 6

Consumer Awareness and Education . . . . . . . . . . . . . . . . . 7

Lungisa Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

Stakeholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

OUR MISSION

Th e Credit Information Ombud will:

• Eff ectively resolve disputes between members of the credit information

industry (credit grantors and credit bureaux) and credit receivers (con-

sumers & businesses).

• Act as an educator of the public in matters pertaining to the credit infor-

mation industry.

• Act honestly, independently and fairly; balancing the rights of both con-

sumers and credit grantors.

All matters will be treated in confi dence.

OUR VALUES

Th e values of the Credit Information Ombud are not negotiable and cannot

be diminished in any way.

• Fair: We will act in the best interests of all parties, taking both sides into

consideration and considering the merits of each case carefully.

• Independent: We will not take sides and will remain impartial at all

times. No individual or organisation will be in a position to unduly

infl uence us.

• Honest: We will openly deal with any issue put before us, asking the

relevant questions and communicating clearly and transparently.

• Confi dential: Everything that we do will be kept in the strictest confi -

dence and will not be disclosed to another party without permission.Th e Baobab,

Kremetart or Adansonia

Digitata, is one of the best known and

longest living trees of Africa.

Some trees are estimated to be about

3 000 years old. Th e trees are fi re and

termite resistant and much liked by

elephants that eat the spongy tissues of the

bole and can damage or destroy trees. Th e

seeds are eaten by baboons and monkeys

and used by humans. Th e bare branches

resembling roots gave rise to an African

folk tale about the tree being planted

upside down by God. Th e largest tree

in the country is a Baobab, at Sagole in

the Limpopo Province, of 22 m high, a

massive trunk diameter of 10,4 m and

a crown diameter of 38,2 m.

Traditionally the tree has

provided food, shelter, clothing

and medicine as well as material

for hunting and fi shing.

MESSAGE OF THE CHAIRPERSON

Th e past year has been one of consolidation and extending

footprint. Full accreditation and recognition was granted

to the Offi ce of the Credit Information Ombud by the Fi-

nancial Services Ombuds Schemes Council.

Th e offi ce played a vital role in shaping the fi nal draft of the

Regulations in terms of the National Credit Act relating to

the removal of consumer credit information. Th e Regula-

tions, having been passed and in force, means that the of-

fi ce will act as a watchdog in ensuring that the legislation is

complied with.

Th e council and the various stakeholders continue to give their full support to the of-

fi ce. Being able to tap into council members’ knowledge, insight and wisdom is invaluable.

For this, a hearty thanks to all council members, as the organisation can only grow from

strength to strength with their support.

A special word of thanks to the Ombud and his staff for the sterling work they perform.

Th eir dedication, commitment and loyalty are much appreciated.

It is with sadness that I report that during the month of May 2007 and before going to

print, a valuable council member, Kathleen Madlala (fondly known to us as Pinky) passed

away. Pinky was from the Legal Resources Centre, representing the community constitu-

ency on the council. She was also a member of the National Consumer Tribunal. Her insight

and contribution will surely be missed. Hamba Kahle comrade. May you rest in peace.

Nicky Lala-Mohan

Chairperson

REPORT OF THE OMBUD

Th e Credit Information Ombud’s offi ce is entering its fourth

year of serving and improving the lives of the people in

South Africa by restoring their creditworthiness. Th e past

three years have been a wonderful and rewarding journey

which we share with you through this report of activities

for 2006. Our vision for the future is to keep growing, nur-

turing and providing shade and shelter for those who need

our services. We want to be the trusted haven for consum-

ers and businesses with credit information complaints; this

is also in line with the theme for our annual report.

National Credit Act

Th e past year the credit industry saw the introduction of the National Credit Act, 2005

(NCA) in June, with the credit bureaux regulations that followed in September 2006. Th e

NCA requirements included credit bureaux registration with the National Credit Regulator,

taking responsibility for data accuracy and specifying the sources of credit information, the

purposes and parties who may receive credit information. Th e NCA further requires that

subscribers of credit bureaux must notify consumers before adversely listing a consumer

on the credit bureau. Consumers will have free access to their credit reports and the act

provides specifi cs when consumers dispute the information on their credit profi le. Th e NCA

further dictates the retention period of credit information on credit bureaux and introduced

a once-off data cleansing process which will become eff ective in June 2007, when the fi nal

section of the NCA will be implemented.

Th e NCA had a signifi cant impact on the credit information industry as, for the fi rst

time, credit information will be regulated by statute. Although I believe that the credit in-

formation industry has managed the industry responsibly in the past, the NCA will create

added pressures on credit bureaux and the users of credit information (credit providers,

debt recovery agents, etc.) to ensure that credit information is managed as a dedicated prior-

ity. Th is will result in better quality data on the credit bureaux, which will ultimately benefi t

credit providers by making correct risk management decisions and consumers in receiving

the credit they deserve.

Th e Credit Information Ombud’s offi ce was recognized by the National Credit Regulator

as an Ombud with jurisdiction to resolve disputes arising from credit information.

Financial Services Ombud Scheme Act

Th e Financial Services Ombud Scheme Act 2004 (FSOS) was promulgated in April 2004,

and the regulations of the Act were published in August 2006. Th e act required the Credit

Information Ombud’s (CIO) offi ce to register with the FSOS council.

Th e offi ce submitted a comprehensive application to the FSOS council, which was fol-

lowed by a presentation by the Chairperson of the CIO Council and the Ombud.

page 4 • Credit Information Ombud Account of Activities 2006 • page 5

Manie van Schalkwyk

Credit Information Ombud

Nicky Lala-Mohan

Chairperson

Th e Quiver,

Aloe Dichotoma,

is probably the best known aloe

found in South Africa and Namibia. Th is

distinctive tree aloe has smooth branches,

which are covered with a thin layer of

whitish powder that helps to refl ect away the

hot sun’s rays. Th e bark on the trunk forms

beautiful golden brown scales, but beware,

the edges of these scales are razor sharp. Th e

young fl ower buds can be eaten and have a

similar appearance and taste to asparagus.

Sugar birds are drawn to these fl owers in

winter where they feed on the nectar

produced by the fl owers. Aloe Dichotoma

is an extremely tough tree that may reach

an age of over 80 years and a height of

approximately 7 metres. A common

phenomenon in the branches of these

trees is the huge communal nest of

weavers that live and breed by the

thousands. Here their young and

unborn are safe from predators

such as snakes and jackals.

page 6 • Credit Information Ombud Account of Activities 2006 • page 7

Consumer Awareness and Education

Th e offi ce of the CIO is committed to consumer awareness and education in terms of credit

information and again this year we had wonderful success by mainly using the media to

carry our message to the public.

Th e Ombud was involved in several TV interviews, many radio interviews and used the

press to communicate educational articles in newspapers and magazines.

Th e offi ce produces press releases which include educational articles and distributes

these to the media. We then rely on the media to fi nd these press releases newsworthy and

publish or broadcast the information. We measure our activity in the media by “Equivalent

Advertising Value - EAV”, a term used in the industry to calculate the equivalent value of

an article if the CIO had to pay for advertising. Th e Credit Information Ombud’s EAV in-

creased by more than 13% from 2005 to 2006 and amounted to more than R2,8 million. Th is

adds up to a total of more than R11 million in EAV since inception of the offi ce.

Our media involvement also plays a vital role in terms of creating awareness of the of-

fi ce among consumers. Th e CIO commissioned an independent research house to conduct

research in terms of the level of awareness among consumers of the CIO compared to other

Financial Ombud Schemes. Th ese schemes included the Ombudsman for Banking Services,

the Long Term Insurance Ombud, the Short Term Insurance Ombud, the Pension Funds

Adjudicator and the Financial Advisory and Intermediary Services Ombud.

Th e Credit Information Ombud achieved the second highest awareness level among

consumers, despite the fact that the offi ce had been operating for the least number of years

compared to the other Ombud Schemes.

Th e CIO plays an active role with various Consumer Aff airs Departments, which in turn

include NGOs and other relevant Community leaders and Consumer Bodies in terms of

consumer education.

Th e following areas were covered in the application: Composition of the CIO Council, the

appointment of the Ombud, the constitution and terms of reference, staff qualifi cations and

composition, fi nancing of the offi ce and the budget, the process for complainants, consumer

education and outreach as well as statistics of the offi ce since inception. Th e CIO’s applica-

tion was successful and we received a certifi cate of recognition from the FSOS council.

Financial Ombud Scheme Initiative

Th e Credit Information Ombud, together with the Ombudsman for Banking Services and

the Long Term Insurance Ombud started an initiative to make it easier for consumers to

reach the relevant Ombud’s offi ce.

Th ere is confusion among consumers as to which specifi c Ombud offi ce to contact when

wanting to complain. To minimize the confusion, a common telephone number was intro-

duced for all three offi ces. Th e telephone number will be personally manned by operators

and will act as a switchboard to re-route complaints to the correct offi ce.

Th is initiative was successfully introduced in Australia, where all the Financial Ombuds-

men take part in the initiative and the full impact in South Africa will only be realised when

all Financial Ombudsmen, statutory or voluntary, will share in this initiative. I urge all the

Financial Ombudsmen to realise the benefi ts of this initiative for consumers, and that is to

make it easier to contact the correct Ombud’s offi ce when lodging a complaint. Th is initiative

will be launched in 2007 with an easy-to-remember telephone number:

0860 OMBUDS / 0860 662837.

Ombudsman Association of South Africa

Th e CIO has worked actively with other Ombud Schemes to establish the Ombudsman As-

sociation of South Africa. Th e objective of this Association will include: to act as a formal

body representing and promoting the interest of Ombudsmen and to introduce minimum

standards of practice for Ombudsmen.

Th is will ensure that an Ombud Scheme which is a member of the Ombudsman As-

sociation of South Africa will adopt the essential elements of an Ombud Scheme, namely

Independence, Eff ectiveness, Procedural Fairness, Impartiality in conducting inquiries and

investigations as well as Confi dentiality. Th e establishment of this association will be in line

with international practice and will follow the examples of the International Ombudsman

Association, Australian and New Zealand Ombudsman Association and the British and

Irish Ombudsman Association.

Th e Association will be launching early 2007 and interested parties are: Th e Press Om-

budsman, Dental Ombudsman, Motor Ombudsman, Long Term Insurance Ombudsman,

Short Term Insurance Ombudsman, Ombudsman for Banking Services and Credit Infor-

mation Ombud.

page 8 • Credit Information Ombud

Lungisa Awards

Th e word Lungisa means “fi x it” or “correct it” in IsiXhosa, IsiZulu and SiSwati. Th e Credit

Information Ombud has launched the Lungisa Credit Information Awards to encourage

business to seriously engage in dispute resolution in terms of credit information, as well as

encourage business to make consumers aware of the existence of the CIO.

Against the backdrop of the National Credit Act it is becoming more relevant for busi-

ness to implement eff ective dispute resolution processes and procedures to manage disputes

in terms of credit information. Th is will not only ensure that businesses comply with legisla-

tive requirements, but will reinforce their relationships with their customers. Consumer

bodies, businesses, credit bureaux and the National Credit Regulator have welcomed this

initiative and pledged their full support.

Th e Lungisa Awards comprise three awards:

• Best Credit Information User (Credit providers, Debt recovery agents, etc.)

• Best Credit Bureau

• Best Consumer Journalist supporting the CIO

Th e CIO Council has agreed on the criteria for each category, which mainly focus on infra-

structure and process in terms of in-house dispute resolution. An independent party has

been appointed that will act as a judge and will appoint the winners in each category.

Home

Th e CIO has moved into its own offi ces aft er sharing offi ces with the Ombudsman for Bank-

ing Services for two years and we would like to thank them for their hospitality in hosting

us for this period.

Th e offi ce move came at some capital expense, but now the offi ce functions totally inde-

pendently in Randburg and provides us with the necessary infrastructure to grow into the

future and build capacity.

We increased our staff complement to eight full-time staff members. In the process we

decided to bring the Public Relations function as well as the Call Centre in-house. Having

these functions in-house does not only assist in building capacity for the offi ce, but creates

an opportunity to transfer skills to existing employees.

I would like to thank the Council of the CIO and the employees for their dedication,

hard work and positive attitude during the past year to ensure that the CIO serves our com-

plainants eff ectively and to impart our knowledge to consumers to assist them in managing

their credit profi les more eff ectively.

Manie van Schalkwyk

OMBUD

Account of Activities 2006 • page 9

STAKEHOLDERS

Th e offi ce of the Credit Information Ombud is an independent and impartial body that

reports to the CIO Council and not to the Credit industry. Th e Council consists of four

constituencies: Consumer Bodies, Credit Granting industry, Credit Bureau industry and

Business Representatives on the Council:

Consumer Journalist

Isabel Jones

Transparency South Africa

Hassen Lorgat

Consumer Credit Association (CCA)

Albert Elliot

Micro Finance South Africa (MFSA)

Dave de Beer

Th e Banking Association

Nicky Lala-Mohan

Transunion

Elize Adams

Experian

Herb Schröder

Credit Bureau Association (CBA)

Ashina Singh

National African Chamber

of Commerce (NAFCOC)

Buhle Mthethwa

South African Chamber of

Commerce (SACOB)

Bill Lacey

Afrikaanse Handelsinstituut (AHI)

Tjaart van der Walt

Credit Granting Industry

Credit Bureau Industry

Business

Consumer Bodies

Legal Resource Centre (LRC)

Kathleen Madlala (In fond memory.)

General enquiries logged at the CIO (Fig. C)

2005 2006 (TOTAL: 4 761)

Cases opened by CIO (Fig. D)

2005 2006 (TOTAL: 1 320)

STATISTICS

Disputes recorded by Credit Bureaux (Fig. A)

2005 2006 (TOTAL: 41 974)

Telephone calls received by CIO call centre (Fig. B)

2005 2006 (TOTAL: 14 102)

Fig.A: As the fi rst step in the CIO

process, credit receivers need to

contact a credit bureau and make

them aware of the dispute. A total of

41 974 disputes were recorded by the

credit bureaux for the period January

2006 to December 2006.

Th is is an average of 3 498 dis-

putes per month.

Th is fi gure has increased by 68%

since 2005. Th is was not because of

more problems but due to increased

public awareness of the CIO offi ce

and the awareness created by the

National Credit Act’s Credit Bureau

Regulations, which were implement-

ed in September 2006.

Th e credit bureaux resolved

96,8% of the complaints and the

balance was escalated to this offi ce.

Fig. B: Th e CIO contact centre assists

credit receivers in taking down their

complaints telephonically and to

explain the CIO dispute resolution

process to the public if they do not

have a valid reference number from

credit bureaux or to address general

inquiries that consumers may have

in terms of the credit information

industry.

A total number of 14 102

telephone calls were recorded by

the CIO Call Centre for the period

January 2006 to December 2006.

Th is is an average of 1 175 tele-

phone calls per month.

Th is fi gure increased from 11 768

in 2005, thus an increase of 20%.

Th ere is a defi nite increase in

telephone calls received by the Call

Centre aft er September 2006 as a

result of increased awareness of

consumers by the implementation of

the National Credit Act’s Regulations

for credit bureaux.

page 10 • Credit Information Ombud Account of Activities 2006 • page 11

7 000

6 000

5 000

4 000

3 000

2 000

1 000

0Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2 23

9 2 55

6

2 56

6

2 62

2

2 86

2

2 88

7

2 92

1

2 07

9

4 15

9

4 93

0

6 25

1

1 10

1

2 34

8

1 61

5 1 98

8

2 15

5

1 85

4 2 11

4

2 39

0

2 48

9

2 27

2

2 63

8

1 96

3

5 90

2

2 500

2 000

1 500

1 000

500

0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

1 01

5

982

1 10

0

860

1 34

6

1 15

3

1 18

0

859

2 02

9

1 40

9

1 38

4

657

626

785

826 90

6 1 04

7

1 17

3

1 23

6

1 26

3

1 36

0

1 21

3

676 78

5

Fig. C: Th e CIO receives general

enquiries from the public in the form

of letters, faxes and e-mails. Th ese

general enquiries vary in the type of

information that consumers need

clarifi cation on, and the volume of

general enquiries relate directly with

media exposure of the CIO.

A total number of 4 761 general

enquiries were recorded for the period

January 2006 to December 2006.

Th is is an average of 397 general

enquiries per month. Th is fi gure in-

creased from 2 783 in 2005, thus an

increase of 71%.

Fig. D: A total number of 1 320 cases

were opened by the CIO offi ce for the

period January 2006 to December

2006. Th is is an average of 110 cases

per month. Th is fi gure decreased from

1 473 in 2005, thus a decrease of 10%.

With increases of 13% in media

activity, 68% in the number of disputes

lodged with credit bureaux, 20% in the

number of calls to the Call Centre and

71% in the number of general enqui-

ries, it would be reasonable to expect

the number of complaints to increase.

Th is was not the case and we can con-

tribute the decrease in the number of

complaints opened by the CIO directly

to an increase in effi ciency by the

credit bureaux to resolve the disputes

in the fi rst step of the process.

In 2005 the credit bureaux resolved

94,5% of all complaints lodged and

this increased in 2006 to 96,8%.

600

500

400

300

200

100

0Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

280

440

418

420

441

426

429

529

315

352

186

216

141

95

189

223

367

112

82

378

374

420

396

180

160

140

120

100

80

60

40

20

0Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

117

102

133

103

99 100

99

128

137

134

118

93

76

99

103

127

127

137

149

168

149

132

113

63

315

Percentage resolved cases closed by Jurisdiction (Fig. E)

2006 (Figures in bold represent 2006 – Figures in brackets represent 2005)

Categories of Jurisdiction

A Inaccurate or incorrect default credit information is listed on the credit receiver’s

credit profi le – 6%.

B Insuffi cient or incomplete credit information is listed on the credit receiver’s credit

profi le – 1%.

C Th e negative credit information listed on a credit receiver’s credit profi le is displayed

on a credit bureau for a longer period that is dictated by the Credit Information Code

of Conduct – 3%.

D Th e subscriber to the credit bureaux supplied inaccurate information to the Credit

Bureau – 20%.

E Th e subscriber to the credit bureaux did not inform the consumer that they would be

listing him/her adversely on the credit bureaux – 0%.

F Th e consumer defaulted on the debt through no fault of his/her own, and has subse-

quently rehabilitated him/herself; this is typically where a consumer has defaulted as a

result of retrenchment or any circumstances that the person could not control – 0%.

G Th e debt has prescribed – 5%.

H Th e credit receiver has been listed more than once in terms of the same debt – 1%.

I Th ese cases fall outside the jurisdiction of the CIO offi ce – 6%.

J In these cases the CIO offi ce has not ruled in favour of a complainant – 41%.

K Th e complainant has withdrawn the case. Th is usually happens if complainants fail to

respond to requests for information or a respondent’s version of the case. Complain-

ants receive numerous requests from the CIO offi ce to respond before we assume that

a complainant does not want to proceed with the case – 14%.

L A credit receiver has been listed on a credit bureau due to a fraudulent transaction – 2%.

M A credit receiver has been listed on a credit bureau due to a service related dispute

with a credit grantor and the dispute has been resolved between the parties – 1%.

Fig. E: What is clear from the sta-

tistics is that there was a decline in

outdated information (C), duplicate

listings (H) and where consumers

have withdrawn their complaints.

Alarming is the increase

(16% - 20%) in credit grantors pro-

viding incorrect information to the

credit bureaux (D). Th is could have

signifi cant consequences for credit

grantors, taking into account the re-

quirement of the National Credit Act

for credit grantors to supply accurate

information to credit bureaux.

Th e CIO has ruled in favour of

consumers in 39% of the cases and

ruled in favour of the credit industry

in 41% of the cases. Th e balance

of the cases either fell outside the

jurisdiction of the CIO offi ce or the

complainants have withdrawn their

cases. Taking all valid cases into

account, the CIO ruled in favour

of industry in 51% and in favour of

consumers in 49% of the cases.

page 12 • Credit Information Ombud

Manner of Finalisation by the CIO (Fig. F)

2006 (Figures in bold represent 2006 – Figures in brackets represent 2005)

A – Interventions B – Facilitations C – Mediation

D – Recommendations E – Rulings

Th e majority of cases (70%) are resolved through intervention from the CIO offi ce. An in-

tervention constitutes where the CIO is able to remove information from the credit bureaux

without extended deliberation with the supplier of the information or with the credit bu-

reaux.

Facilitation between the parties constitutes a summary of the complainant’s case and

the response of the credit grantor/subscriber to the credit bureaux. A credit reviewer will

provide a detailed complaint and will in turn be able to respond to the response of the credit

grantor/subscriber to the credit bureaux. Th e CIO will evaluate the facts and decide on the

validity of the negative listing on the credit bureaux. 29% of the cases were resolved through

facilitation.

Mediations are formal meetings between the complainant and representatives of the

credit grantor/subscriber of the credit bureaux, with the Ombud as the mediator. Th e Om-

bud guides the debate between the parties until an agreed outcome is reached. Th e CIO

resolved 1% of cases through mediation.

Recommendations are normally detailed reports to a credit grantor/subscriber to the

credit bureaux explaining the reasons why the information on a credit receiver’s profi le

should be removed. If a credit grantor/subscriber to credit bureaux is able to provide addi-

tional evidence to substantiate the reasons for listing the information, all new evidence will

be considered and incorporated in a ruling. No cases were resolved through recommenda-

tions.

Th e CIO resolved no cases through rulings.

All decisions of the CIO are binding on the credit bureaux and the subscribers of credit

bureaux. If subscribers of credit bureaux fail to remove information from the credit bureaux,

the CIO could instruct the credit bureaux to remove the information.

Account of Activities 2006 • page 13

A6%(4%)

I6%(7%)

J41%(38%)

K14%(17%)

B1%(1%)

C3%(7%)

D20%(16%)

E 0% (0%)F 0% (0%)

G5%(4%)

H1%(5%)

L2%(0%)

M1%(0%)

B29%(18%)

C1%(5%)

D0%(2%)

E0%(2%) A

70%(73%)

Period from opening to closure of cases (Fig. G)

2005 2006

0 - 60 61 - 120 121 - 180 181 - 270

page 14 • Credit Information Ombud

Th e Credit Information Ombud of South Africa is in its fourth year of protecting South

Africa’s public and its credit suppliers.

Like a tree, the ombud continues to grow above ground, where the growth is visible

through the work they do, and below ground, where the roots continue to spread, giving

the ombud stability and grounding in the credit community. Th e Credit Information Om-

bud was established in 2004 with the express purpose of helping credit receivers (consum-

ers and businesses) resolve disputes relating to information that is held by credit bureaux.

Th e ombud will continue to play a signifi cant role in educating the public about credit and

will continue to provide a trusted haven for consumers and businesses with credit com-

plaints.

Account of Activities 2006 • page 15

Umbrella Th orn,

Acacia Tortilis, has the classic, umbrella-

shaped canopy associated with thorn trees.

It reaches heights of between 5 m - 20 m,

with a spread of 8 m - 13 m. Many bird

species take advantage of this protection

and build their nests in the canopy.

Browsing animals eat the leaves together

with the thorns, the latter more easily

when young and soft . Th e Umbrella thorn

produces a large number of pods that

are eaten by wild and domestic animals,

and sometimes by man. Th e timber is

used for fence posts, fi rewood, furniture

and wagon wheels. Th e bark is used for

string in Tanzania, East Africa. Th e gum

is used as a poor man’s gum arabic (used

as an emulsifi er in glue, as the binder for

watercolour paints, and in incense), and is

said to be edible. Th e thorny branches are

used to erect temporary cages and pens.

Th e bark is a good source of tannin. Afri-

cans once strung the pods into necklaces

and African nomads oft en use the fl exible

roots for frameworks of their temporary

shelters.

Fig. G: Th e productivity of the CIO

increased from 2005 to 2006 by

37%. In 2006, 70% of all cases were

concluded within 60 days, compared

to 51% in 2005. No cases exceeded

180 days.

80

70

60

50

40

30

20

10

0

70%

28%

2%

51%

30%

11%

8%

0%

Credit Information Ombud

Tel: +27 011 781 6431

Fax: +27 011 388 2445

Call Centre: 0861 662 837

E-mail: [email protected]

Postnet Suite # 444

Private Bag X1

Jukskei Park

2153

1st Floor, Silver Fern Building

Fernridge Offi ce Park

5 Hunter Street

c/o Hendrik Verwoerd Drive

Ferndale

Randburg

www.creditombud.org.za