Employee indebtedness is a serious and complex issue in South Africa - at all levels of society.
Because of their stable employment and relatively high levels of income, mining employees are targets of reckless formal and informal credit providers.
An industry-level task team, led by the Chamber of Mines, was set up in 2012 to address employee indebtedness, focussing on:
- The legality of garnishee orders
- Consolidation and management of debt
- Financial training and education
Together, mining companies have:
- Challenged thousands of illegal garnishee orders, saving individuals millions of rands, and stemmed the commitment of additional illegal orders
- Provided financial skills training to more than 60% of the work force at various operations
- Facilitated the consolidation of debt for tens of thousands of employees
- Challenged thousands of informal and formal credit providers around operations