Just read an article on the Pretoria News with this heading – Africa Bank charges poor 60% interest.

This just sounds wrong, how can they be allowed to charge such high interest rates? Kick a person when they’re down why don’t you. The article goes on to say “The company provides loans at interest rates that can reach 60 percent annually to people who lack assets required to secure credit at other banks.” Does this sound like the type of behavior that will help someone in need?

The article can be found here – http://tinyurl.com/kc3ll5o

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