MAC3703
Assignment 2
ADMIN
[COMPANY NAME]
, QUESTION 1 (30 MARKS) Mrs Sindy Lula has been in the financial Services
Sector for more than 20 years and is considering a career shift. At present,
she is a credit provider (mashonisa) where she owns and runs the money
lending business throughout the Eastern Cape under the name BZN Agri-
Retailers (PTY) LTD. Having been in this business for more than 20 years,
she has grown bored of the business and is considering selling it to a
competitor and venture into landscaping and be a landscape designer. She
intends to focus on: 1. Garden designs 2. Kids play areas
MAC3703/Assignment 2/2023 4 3. Swimming pot Mashonisa (credit
providers) is part of the financial services market. Most Mashonisas are illegal
and unregulated lenders that operate without compliance with the National
Credit Act (NCA). Mashonisas offer loans that don't require formal documents
to be filled out. Although they are not registered with NCA, the lender who
harasses the borrower is breaking the law and can be reported to NCA and to
the police. Mashonisas are very popular is South Africa because of the speed,
the convenience, no credit checks requirements, simplicity and fixed interest
rates. There are no specific educational requirements for a credit provider
(Mashonisa). Some Mashonisas are registered with NCA so as the have the
competitive advantage. According to the Wonga report, “The NCR is currently
embarking on a campaign to get all unregistered credit providers registered,
through the mobile registration office that moves around the country to assist
unregistered credit providers to register. In addition the unregistered credit
providers are continuously referred to the tribunal so that fines can be
imposed on them for operating a business of a credit provider without a
licence.” Mrs Sindy Lula’s company is registered with NCA and is a private
company registered with CIPC. The company has very few compliance
requirements. Landscaping is very different. It is part of the landscaping
products market and is subject to a plethora of rules and standards
concerning the advice and service that landscapers can give. Certain
projects/sites may require and have in place an Environmental Management
Plan (EMP), an Environmental authorization or a Water use license. In these
instances, it is critical that the landscaping company obtains copies of these
documents and takes note of the requirements up front to ensure that all work
on-site is undertaken in accordance with these legal requirements. At times
external environmental auditors or the “Green scorpions” may visit projects to
confirm compliance with the authorization, license or EMP requirements. The
landscaping industry is a very competitive space to work in, especially when
businesses are within close geographical range to one another. It’s a constant
Assignment 2
ADMIN
[COMPANY NAME]
, QUESTION 1 (30 MARKS) Mrs Sindy Lula has been in the financial Services
Sector for more than 20 years and is considering a career shift. At present,
she is a credit provider (mashonisa) where she owns and runs the money
lending business throughout the Eastern Cape under the name BZN Agri-
Retailers (PTY) LTD. Having been in this business for more than 20 years,
she has grown bored of the business and is considering selling it to a
competitor and venture into landscaping and be a landscape designer. She
intends to focus on: 1. Garden designs 2. Kids play areas
MAC3703/Assignment 2/2023 4 3. Swimming pot Mashonisa (credit
providers) is part of the financial services market. Most Mashonisas are illegal
and unregulated lenders that operate without compliance with the National
Credit Act (NCA). Mashonisas offer loans that don't require formal documents
to be filled out. Although they are not registered with NCA, the lender who
harasses the borrower is breaking the law and can be reported to NCA and to
the police. Mashonisas are very popular is South Africa because of the speed,
the convenience, no credit checks requirements, simplicity and fixed interest
rates. There are no specific educational requirements for a credit provider
(Mashonisa). Some Mashonisas are registered with NCA so as the have the
competitive advantage. According to the Wonga report, “The NCR is currently
embarking on a campaign to get all unregistered credit providers registered,
through the mobile registration office that moves around the country to assist
unregistered credit providers to register. In addition the unregistered credit
providers are continuously referred to the tribunal so that fines can be
imposed on them for operating a business of a credit provider without a
licence.” Mrs Sindy Lula’s company is registered with NCA and is a private
company registered with CIPC. The company has very few compliance
requirements. Landscaping is very different. It is part of the landscaping
products market and is subject to a plethora of rules and standards
concerning the advice and service that landscapers can give. Certain
projects/sites may require and have in place an Environmental Management
Plan (EMP), an Environmental authorization or a Water use license. In these
instances, it is critical that the landscaping company obtains copies of these
documents and takes note of the requirements up front to ensure that all work
on-site is undertaken in accordance with these legal requirements. At times
external environmental auditors or the “Green scorpions” may visit projects to
confirm compliance with the authorization, license or EMP requirements. The
landscaping industry is a very competitive space to work in, especially when
businesses are within close geographical range to one another. It’s a constant
