SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Understand the legal, ethical and professional needs of the micro-finance industry 
SAQA US ID UNIT STANDARD TITLE
13440  Understand the legal, ethical and professional needs of the micro-finance industry 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 3  NQF Level 03 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
Persons credited with this unit standard can demonstrate an understanding of the background and development of the micro-finance industry in South Africa, the laws and regulations governing the sector and the ethical and professional standards governing the industry. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
No prior learning is assumed for this unit standard. 

UNIT STANDARD RANGE 
  • The term micro-finance is used in accordance with the MFRC definition which uses it as a broad term to describe money lending on a small scale to consumers, for starting a small business, paying for student fees, burial payments, buying building supplies, buying furniture, clothing etc.
  • Legislation which impacts on the Micro-Finance environment includes the followings:
    Regulations
    Regulation 713 of 1 June 1999
    Acts:
    *Labour Relations Act
    *Basic Conditions of Employment Act
    *Skills Development Act
    *Income Tax Act
    *Acton on close corporations/Companies Act/Act on control of Trust Property
    *Bank Act
    *Usury Act (including exemptions). 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Demonstrate an understanding of the history and development of micro-lending in South Africa. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The micro-lending industry in South Africa prior to 1992 is described including the development and operation of the industry during this period. 

    ASSESSMENT CRITERION 2 
    2. The micro-lending industry in South Africa between 1992 and 1999 is described including the development and operation of the industry during this period. 

    ASSESSMENT CRITERION 3 
    3. The micro-lending industry in South Africa after 1999 is described including the development and operation of the industry. 

    SPECIFIC OUTCOME 2 
    Demonstrate an understanding of the legal requirements pertaining to the micro-finance environment. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The legislation governing the micro-finance environment is named including the usury act and its exemption. 

    ASSESSMENT CRITERION 2 
    2. The implications and impact of the usury act and its exemption are described in accordance with the Micro-Finance Regulatory Council (MFRC) published documentation. 

    ASSESSMENT CRITERION 3 
    3. The role of the MFRC is explained in terms of the Usury Act Exemption Notice of 1 June 1999. 

    ASSESSMENT CRITERION 4 
    4. The rules of the MFRC are explained including , registration and related matters, prohibition on accepting deposits, rules pertaining to lending activities, accounting procedures, reporting; disciplinary procedures and calculation of interest. 

    SPECIFIC OUTCOME 3 
    Demonstrate an understanding of the ethical and professional requirements. 
    OUTCOME NOTES 
    Demonstrate an understanding of the ethical and professional requirements pertaining to the micro-finance environment. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. Anti-discriminatory practices are identified in a way that is consistent with the company's role and the anti-discriminatory legislation. 

    ASSESSMENT CRITERION 2 
    2. The need to maintain the confidentiality of client information is explained consistent with the operational and legal conditions. 

    ASSESSMENT CRITERION 3 
    3. The need for individual rights and choice within the service delivery context of a micro-finance organisation is described consistent with organisational and customer requirements. 

    SPECIFIC OUTCOME 4 
    Demonstrate an understanding of the role of micro-financing in South Africa. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The role of the banking sector in South Africa is stated in terms of client needs and services offered. 

    ASSESSMENT CRITERION 2 
    2. A definition of micro-finance and micro credit are provided using definitions included in government legislation and put forward by the Micro-Finance Regulatory Council. 

    ASSESSMENT CRITERION 3 
    3. The micro-finance industry's role in the banking sector is described in terms of services offered, customers served and differences between the commercial and micro-finance sectors and clients. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    Accreditation for this Unit Standard shall be from the relevant Education and Training Quality Assurer through formative and summative assessment by a registered Assessor. Assessment should be contextual and be conducted in the workplace as far as possible.
  • The relevant NSB and SGB should be notified of any feedback related to this qualification.
  • Assessors must be registered as an Assessor with the relevant ETQA.
  • Moderators must be registered as assessors with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA.
  • Moderation should include both internal and external moderation where applicable.
  • The relevant ETQA will co-ordinate all moderation activities in accordance with their policies and procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    A demonstrated understanding of:
  • The legislation governing the micro-finance sector in South Africa;
  • The conditions which led to the creation of this legislative framework. 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems. For example understanding the problems arising in the micro-finance industry and identifying how the legislation was intended to deal with these problems. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/or language skills in the modes of oral and/or written persuasion. For example information may need to be communicated to others verbally or in written form to demonstrate an understanding of the legal and ethical requirements of the micro-finance industry. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of interrelated systems by understanding the impact of legislation as well as ethical and professional behaviour on the overall functioning and sustainability of the micro-finance sector in South Africa. 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  23453   National Certificate: Micro Finance  Level 3  NQF Level 03  Reregistered  2023-06-30  BANKSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Cornerstone Performance Solutions (Pty) Ltd 
    2. Nedbank Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.