Illegal car repossessions are common in South Africa
Vehicle financier Wesbank is not the only institution that has been accused of illegally repossessing cars.
Credit providers have been engaging in such practices for years, according to industry experts. The issue has been around since 2007, said Paul Slot, president of the Debt Counsellors’ Association of South Africa (DCASA).
Unpopular NEF, IDC merger may hold back black empowerment
Politicians love power. In fact, they thrive on amassing more power. Whenever politicians amalgamate bureaucratic institutions, the motive behind such a move is usually to consolidate and amass political power rather than to improve the efficiencies of the institutions that are being merged.
This is why mergers that are driven by politicians raise eyebrows, especially when they are often not supported by solid business rationale, but by hidden political agendas.