There is the risk that some households are becoming over-leveraged, but this would suggest that the limits set by the National Credit Act are not being adhered to. A further concern that is often expressed is: what happens when the interest rate cycle turns and many of these new borrowers may find it difficult to service their loans.
For instance, the Digital Banking Framework issued in November last year spells out regulatory guidelines on how to operate digital banks in the country. Now, we already have 6 licensed digital banks.