The Waking Crew 2.0

Catch Jarret and Deon for their early morning antics: 06:00 - 09:00

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The Coffee Break

Get that morning buzz you need, from 09:00 - 12:00

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The Hard Drive

with Karlien, for your lunch time entertainment 12:00 - 15:00

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The Headrush

End your busy day with Chops, 15:00 - 18:00

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PMR Africa Award Winners
2 Diamond Arrow
5 Gold Arrow

 
 

China getting tough on micro-lending

Chinese authorities have issued new rules on microlending, designed to protect consumers and limit risk for creditors. 

According to the AFP news agency the move was the latest aimed at tackling financial risks as the world's number-two economy faces ballooning debt that has drawn warnings of a potential global financial crisis. While most economists and analysts have focused their concerns on corporate debt, household debt has risen rapidly, roughly doubling since 2012, according to the Bank for International Settlements, known as the central banks' central bank. And smartphones have made it even easier for consumers to borrow cash in China, with ecommerce apps and mobile payment increasingly prevalent. The new rules prohibit lending to consumers without income and cap interest rates at 36% annually. Regulators will also stop the approval of new online micro lenders.