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Loan shark traps Zinyoka mother in endless debt cycle
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Loan shark traps Zinyoka mother in endless debt cycle
By Anita Dangazele Nosiphiwo borrowed money in January to buy school stationery and she now takes a new loan from them every month. South African law protects people from reckless lending but financial advisers say borrowers must stop debit orders through their banks. Nosiphiwo no longer celebrates payday. The single mother of two from Zinyoka Township says the message from her bank brings her stress instead of relief. Nosiphiwo works at a pri…
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