Minister withdraws draft National Credit Act amendment regulations

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If implemented, this would have resulted in student debt being reported to credit bureaus across the country.

According to the Department of Trade, Industry and Competition, Tau’s decision to withdraw the regulations was informed by the overwhelming response, comprising more than 20,000 submissions received even before the closing date for public comments on 12 September 2025.

“The vast majority of the responses were opposed to the proposed regulations. This process has once more demonstrated the robust nature of South Africa’s democracy, where the public can engage with government openly and transparently.”

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The Minister has committed to a process that will review and implement necessary changes to protect students.

At the same time, efforts to improve access to finance for micro, small, and medium enterprises (MSMEs) will continue, aiming to address the current credit funding gap.

“Minister Tau has also committed to engaging relevant stakeholders to further clarify this process and allay any fears with respect to the outcomes of this process,” the statement read.