Today, Pick n Pay has agreed to a meeting request by the Democratic Alliance after the recent announcement that it will start granting credit to enable consumers to buy food through its ‘Smart-shopper’ in-store program.
The meeting follows public concern raised over whether the most vulnerable consumers will be protected from a potential debt burden and only offered credit they can afford.
While other retailers offer similar options to customers, these are normally aimed at the higher end of the credit market while Pick N Pay is a retailer that focuses on consumers across various income groups.
The DA advocates for a credit market that is strong, healthy and gives credit to consumers in a responsible and legal manner according to the provisions in the National Credit Act.
South Africa has a debt problem which has left most consumers unable to service their debts and it is important to understand how Pick N Pay will roll out its new credit product.
The DA remains committed to ensuring consumers are protected by the National Credit Act while being able to actively participate in the credit market and the economy.
Issued by DA