Times Of Swaziland: ECPA CONCERNED WITH WORKERS MIGRATING

ECPA CONCERNED WITH WORKERS MIGRATING
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Nhlanganiso Mkhonta on 03/04/2024 11:20:00


MBABANE – The Eswatini Credit Providers Association (ECPA) has raised concerns
about reports of individuals misrepresenting facts to lending institutions and
borrowing money with no intention of repaying the loans and then leave for
overseas jobs.
In an interview with this publication, ECPA Chairperson Thulani Dlamini said
this act was not only morally wrong, but also constitutes a criminal offence. He
said it has theft, misrepresentation, and fraud elements. “Individuals who
engage in such deceitful behaviour risk facing severe consequences,” said
Dlamini. ECPA is an association that was formed in 2018, and is made up of
voluntary members of licensed credit providers such as;
* Amandla Financial Services
* First Finance Company
* Letshego Financial Services (Eswatini)
* Select Limited.
This comes after the association had noted a trend from some civil servants,
particularly among teachers and nurses, who are leaving for overseas job
opportunities, who approach lending institutions, and borrow money associated
with their relocation costs with no intention of repaying the loans. The
chairperson mentioned that while they acknowledged the aspirations of emaSwati
seeking overseas job opportunities, they emphasised the importance of ethical
conduct and financial responsibility in the borrowing process. Dlamini said they
acknowledged the growing trend of emaSwati migrating for overseas job
opportunities. He said this undoubtedly presented individuals with prospects for
personal and professional growth.
He said however, it was also worth mentioning that, the departure of skilled
individuals could, in the long run, potentially hinder the development of key
industries in the country. He said, therefore, it was essential for the country
and institutions to collaborate with government and government Agencies and
stakeholders to implement strategies that encourage skills retention and support
the growth of local businesses. Dlamni added that ultimately, while overseas job
opportunities offer emaSwati the chance to improve their livelihoods, it was
crucial to strike a balance between facilitating such opportunities and
safeguarding the interests of the local economy and workforce.
concerned
“With that said, while on this trend, we are concerned about reports of
individuals misrepresenting facts to lending institutions and borrowing money
with no intention of repaying the loans and then leaving for overseas jobs,”
he said. Dlamini highlighted that ECPA remained committed to serving the nation
as well as firmly protecting the interests of both borrowers and lenders. “The
association urges all stakeholders to join hands in promoting responsible
financial behaviour and ensuring a secure and prosperous future for existing and
prospective clients,” the chairperson said. He said the ECPA was advising
their clients who have either left or were planning to leave for overseas jobs
to honour their existing loan repayment obligations. The ECPA urges those who
have already committed this act to immediately make contact with the respective
lending institutions.
enforcement
Failure to do so may result in the matter being handed over to law enforcement
agencies and subsequently escalated to the International Criminal Police
Organisation (INTERPOL). Additionally, individuals involved in this act risk
being blacklisted with credit bureaus. Furthermore, the ECPA advises individuals
who may be contemplating in engaging in this illicit act to refrain from doing
so. The association urges all clients who use their services to act responsibly
and maintain their integrity and trust.