WATCH | Explainer: Debt-relief bill unpacked

23 August 2019 - 13:45 By TIMESLIVE

President Cyril Ramaphosa signed the Credit Amendment Bill, also known as the "Debt Relief Bill", into law on August 13 2019.

The bill seeks to help over-indebted South Africans with a monthly income of R7,500 or less.

It has been met with hesitation from banks and opposition parties but studies show that around 9 million South Africans stand to benefit from the debt relief.

Business Day reporter Mudiwa Gavaza explains what the bill seeks to achieve, and how lenders and those in debt will be affected.