The Non-Bank Financial Institutions Regulatory Authority (NBFIRA), which regulates pawn- shops, insurances and several other, non-bank financial institutions like the trouble-ridden FirstCred, says it will not comment on the ongoing mess at FirstCred so as to allow shareholders to resolve their issues.
In an interview with The Business Weekly & Review, Boa Ntebele, Head, Communications & International Affairs, said the regulatory authority confirms that it regulates FirstCred and that the Authority is aware that the creditors of FirstCred have had differences that resulted in court action between them and FirstCred, which further resulted in a judicial management order by the High Court.
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