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Podcast: First Take SA
Episode: BUSA slams withdrawal of draft regulations to the National Credit Act
Description: Business Unity South Africa, BUSA has slammed Trade, Industry, and Competition Minister Parks Tau for withdrawing draft regulations to the National Credit Act. The proposed changes aimed to simplify credit access for small businesses but were scrapped after public backlash. Over 20,000 submissions opposed clauses that would have allowed educational institutions to report unpaid tuition fees to credit bureaus. Busa CEO Khulekani Mathe accused the minister of mishandling the policymaking process and yielding to political pressure, warning that the withdrawal will delay critical support for SMEs. Elvis Presslin spoke to BUSA CEO, Khulekani Mathe