Description
This report documents the details of the 2009/2010 Impact Assessment. This is a tracking study that has been conducted annually since 2008, and this is the third tracking assessment. The main aim of the tracking study is to evaluate the effectiveness of the
awareness campaigns as well as the performance of the NCR in terms of implementing the Act. The NCR, as the new credit regulator has a mandate to promote a fair, transparent, competitive, sustainable, responsible, efficient, effective and accessible
credit market and industry, and to protect consumers. Consumer education is the cornerstone of consumer protection. The NCR has adopted a multi-pronged strategy towards their communications drive that includes an education component, and an awareness creation component. The education campaign is implemented through capacity building workshops with various stakeholders i.e., industry stakeholder, non-governmental organization, trade
unions, government departments, parliamentary constituency offices, and employers. Awareness creation is accomplished through media especially print. In order to accomplish the above main objectives and track performance of the NCR, the same subobjectives tracked last year were investigated this year and include:
To measure awareness levels on the NCA with reference but not limited to:
o Disclosure
o Initiation fees
o Interest
o Pre-agreements
o Redress
o Reckless Lending and Over-Indebtedness
o Debt Counseling
To measure awareness levels of the NCR amongst consumers
To establish the stakeholders’ general perception of the NCA
Establish whether the NCA has achieved its intended purpose thus far
Establish perceptions regarding the general awareness of the Act
Make recommendations on areas that need improvement.
