Credit information system enhancement
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Individual Reform: Credit information system enhancement 2026 - 2027

Improving credit information and reporting through national credit bureau and data-sharing reforms.

No data available for the deliverable: Improving credit information and reporting through national credit bureau and data-sharing reforms.

No data available for the deliverable: Improving credit information and reporting through national credit bureau and data-sharing reforms.

No data available for the deliverable: Improving credit information and reporting through national credit bureau and data-sharing reforms.

No data available for the deliverable: Improving credit information and reporting through national credit bureau and data-sharing reforms.

No data available for the deliverable: Improving credit information and reporting through national credit bureau and data-sharing reforms.

Summary

The reform includes developing a public credit registry, new data-sharing protocols and a business credit reporting ecosystem for MSMEs. It may require regulatory changes over the short term and legislative changes over the long term to accommodate credit data for micro, small and medium enterprises (MSMEs).

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Is it working?

The reform is advancing, with tangible improvements in data quality and access, but more work is needed for comprehensive coverage. The public credit registry is expected to be fully operational by 2027.

Actions

System upgrades are progressing, but full coverage and integration has not yet been achieved.

Are there plans?

Regulatory changes are under way, with industry collaboration and pilot projects for MSME credit reporting.

Is it on the agenda?

The NCR, National Treasury and FSCA have made this a strategic priority, with clear timelines for implementation.

Goals

To improve the quality, coverage, and accessibility of credit data, supporting responsible lending and financial inclusion.

References

Departments / Govt Institutions

Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)

Summary

The reform includes developing a public credit registry, new data-sharing protocols and a business credit reporting ecosystem for MSMEs. It may require regulatory changes over the short term and legislative changes over the long term to accommodate credit data for micro, small and medium enterprises (MSMEs). National Treasury, FSCA and SARB are improving credit information sharing protocols; bureau reforms are targeting inclusion, accurate reporting and consumer protection. There are updated protocols for credit information sharing, with a consumer protection focus; and bureau audit and reporting scheme were implemented in Q3-2025.
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Canvas not supported.

Is it working?

The reform is advancing, with tangible improvements in data quality and access, but more work is needed for comprehensive coverage. The public credit registry is expected to be fully operational by 2027. The system is being recognised as a regional model with adoption continuing.

Actions

System upgrades are progressing, but full coverage and integration has not yet been achieved. Improvement in data reporting is notable; protection outcomes are being enhanced.

Are there plans?

Regulatory changes are under way, with industry collaboration and pilot projects for MSME credit reporting. These include the review of credit reporting standards, pilot bureau audits and consumer protection updates.
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Is it on the agenda?

The NCR, National Treasury and FSCA have made this a strategic priority, with clear timelines for implementation. This has become a regular feature in National Credit Regulator (NCR), FSCA, SARB and Cabinet plans.

Goals

To improve the quality, coverage and accessibility of credit data, supporting responsible lending and financial inclusion. The objective here is to strengthen credit reporting and bureau data-sharing standards.

References

Departments / Govt Institutions

Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)

Summary

The primary deliverable is an upgraded national framework for credit information sharing and bureau oversight, including updated protocols that govern what data must be supplied, how often, in what format, and with what governance and audit requirements. This framework is accompanied by a bureau‑audit and reporting scheme designed to ensure that improved standards actually translate into better data quality and fairer treatment of borrowers, especially in the unsecured and SME segments. National Treasury, the FSCA and SARB are driving a multi‑year upgrade of credit information‑sharing rules and bureau standards, with a focus on: (i) more comprehensive and timely reporting by banks and non‑bank lenders; (ii) standardised data formats and quality checks; and (iii) stronger consumer‑protection provisions around accuracy, correction of records and dispute resolution.

Canvas not supported.

Is it working?

Available evidence (including NCR bureau statistics) suggests that data coverage and quality have improved and that consumer‑protection outcomes around accuracy and corrections are stronger as bureau and providers implement the Regulation 19(13) framework and CBA Code. The strategic challenge is now less about basic data submission and more about leveraging richer data for SME access and inclusive lending, while ensuring governance keeps pace with new sources (open‑finance / fintech platforms) and that smaller providers can comply proportionately.

Actions

Actions taken include: (i) NCR issuance and updating of guidelines for the implementation of sections 69(2), 70 and Regulation 19(13) on the submission of credit information to authorised credit bureaus, including timeframes and required use of the SACRRA Central Data Transmission Hub; (ii) a memorandum of agreement with SACRRA/CBA to manage the sharing environment and report non‑compliance; (iii) ongoing publication of the Credit Bureau Monitor; and (iv) approval and publication of the CBA Code of Conduct that embeds Popia‑aligned data quality, access and correction rights for consumers.

Are there plans?

Over 2025–2028, authorities plan to: (i) extend enhanced reporting standards to a broader range of non‑bank and alternative lenders; (ii) deepen bureau audit cycles and the use of NCR’s Credit Bureau Monitor to test quality and compliance; and (iii) link upgraded credit information rules to open‑finance and SME‑finance reforms so that transactional and alternative data can support more inclusive credit scoring. This will likely require further refinement of NCR guidelines, the CBA Code, and possibly targeted amendments under the National Credit Act.
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Is it on the agenda?

There are plans to continue phasing in enhanced reporting standards for both bank and non‑bank lenders, expand bureau audits to additional institutions and integrate improved credit‑information protocols with open‑finance and SME‑finance reforms (for example, better use of transactional data and digital records to support MSME credit‑scoring). Legislative and regulatory updates to credit‑information rules under the National Credit Act and related conduct standards are expected to follow once the current protocol and audit phases are fully bedded down.

Goals

To strengthen South Africa’s credit information architecture by improving data quality and sharing protocols across credit bureaus and lenders, expanding inclusion of thin‑file and SME borrowers along with tightening consumer‑protection rules around reporting, disputes and remediation.

References

Departments / Govt Institutions

Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)

Summary

The primary deliverable is an upgraded national framework for credit information sharing and bureau oversight, including updated protocols that govern what data must be supplied, how often, in what format, and with what governance and audit requirements. This framework is accompanied by a bureau‑audit and reporting scheme designed to ensure that improved standards actually translate into better data quality and fairer treatment of borrowers, especially in the unsecured and SME segments. National Treasury, the FSCA and SARB are driving a multi‑year upgrade of credit information‑sharing rules and bureau standards, with a focus on: (i) more comprehensive and timely reporting by banks and non‑bank lenders; (ii) standardised data formats and quality checks; and (iii) stronger consumer‑protection provisions around accuracy, correction of records and dispute resolution.

Canvas not supported.

Is it working?

Available evidence (including NCR bureau statistics) suggests that data coverage and quality have improved and that consumer‑protection outcomes around accuracy and corrections are stronger as bureau and providers implement the Regulation 19(13) framework and CBA Code. The strategic challenge is now less about basic data submission and more about leveraging richer data for SME access and inclusive lending, while ensuring governance keeps pace with new sources (open‑finance / fintech platforms) and that smaller providers can comply proportionately.

Actions

Actions taken include: (i) NCR issuance and updating of guidelines for the implementation of sections 69(2), 70 and Regulation 19(13) on the submission of credit information to authorised credit bureaus, including timeframes and required use of the SACRRA Central Data Transmission Hub; (ii) a memorandum of agreement with SACRRA/CBA to manage the sharing environment and report non‑compliance; (iii) ongoing publication of the Credit Bureau Monitor; and (iv) approval and publication of the CBA Code of Conduct that embeds Popia‑aligned data quality, access and correction rights for consumers.

Are there plans?

Over 2025–2028, authorities plan to: (i) extend enhanced reporting standards to a broader range of non‑bank and alternative lenders; (ii) deepen bureau audit cycles and the use of NCR’s Credit Bureau Monitor to test quality and compliance; and (iii) link upgraded credit information rules to open‑finance and SME‑finance reforms so that transactional and alternative data can support more inclusive credit scoring. This will likely require further refinement of NCR guidelines, the CBA Code, and possibly targeted amendments under the National Credit Act.
rn

Is it on the agenda?

There are plans to continue phasing in enhanced reporting standards for both bank and non‑bank lenders, expand bureau audits to additional institutions and integrate improved credit‑information protocols with open‑finance and SME‑finance reforms (for example, better use of transactional data and digital records to support MSME credit‑scoring). Legislative and regulatory updates to credit‑information rules under the National Credit Act and related conduct standards are expected to follow once the current protocol and audit phases are fully bedded down.

Goals

To strengthen South Africa’s credit information architecture by improving data quality and sharing protocols across credit bureaus and lenders, expanding inclusion of thin‑file and SME borrowers along with tightening consumer‑protection rules around reporting, disputes and remediation.

References

Departments / Govt Institutions

Financial Sector Conduct Authority (FSCA) National Treasury South African Reserve Bank (SARB)

Analyst: Tinashe Kambadza
Status: in-progress
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