1. Scope, Introduction and objectives

1.1 This document sets out the language policy for Versefin (Pty) Ltd, registration number 2021/832566/07, a registered credit provider (NCRCP17080) (“Versefin”) to provide guidelines in terms of language usage for document management, marketing practice and customer communication and give effect to Section 63 of the National Credit Act, 34 of 2005.
1.2 Section 63 (1) of the National Credit Act (“the Act”) states that:
“a consumer has a right to receive any document that is required in terms of the Act in an official language that the consumer reads or understands, to the extent that is reasonable having regard to usage, practicality, expense, regional circumstances and the balance of the needs and preferences of the population ordinarily served by the person required to deliver that document.”
1.3 The language policy recognises the fact that the Republic of South Arica consists of a multilingualism framework with its 11 official languages as entrenched in the Constitution as well as the national demographics in terms of languages spoken most often.
1.4 The original effective date of approval of Versefin’s language policy was 30th May 2023.

2. Versefin’s language policy

2.1 Versefin’s business and operating language is English.
2.2 Versefin will provide the required documents and support in terms of the Act in plain language as far such will be reasonably possible. For the purposes of the Act and this policy, a document is in plain language if it is reasonable to conclude that an ordinary consumer of the class of persons, for whom the document is intended, with average literacy skills and minimal credit experience, could be expected to understand the content, significance, and import of the document without undue effort. Versefin will have regard to –
– the context, comprehensiveness and consistency of the document;
– the organisation, form and style of the document;
– the vocabulary, usage and sentence structure of the text; and
– the use of any illustrations, examples, headings, or other aids to reading and understanding.
2.3 Versefin will provide new quotations and credit agreements in the following languages:
– English
– Afrikaans
– Xhosa
2.4 Versefin’s marketing and advertising material relating to Versefin’s loan products is available in English, Afrikaans and Xhosa. The marketing and advertising material on Versefin’s website relating to Versefin’s loan products are only available in English.
2.5 Versefin’s Call Centre provides support in English, Afrikaans and Xhosa. Should the client wish to receive assistance in any other language, the client will be contacted by a Call Centre agent within 24 hours and assisted in the language requested by the client.
2.6 Insofar as any documents or related information are required to be provided and furnished in respect of the Act, Versefin undertakes to furnish such documents in English. A client may request such document in either English or Afrikaans.

3. Availability and revisions

3.1 This document and its related policy will be monitored and reviewed every 2 years to enable Versefin in a manner to maintain good standards based on
consumer relations, general demographics and to meet Versefin’s client and legislative requirements.
3.2 This language policy will be made available on Versefin’s website: www.versefin.co.za.