Responsible credit management
The Select Group, besides adhering to socially responsible lending practices, also encourages prudent credit use by its clients. This includes prudent management of the relationship with the Select Group during periods of financial feast and famine.
Preservation of the client-lender relationship is also critical to Select. It is specifically important to ensure that client-lender communication channels are used optimally during periods of client financial distress, which can be caused by the following:
- Death of the borrower or primary breadwinner
- Suspension from employment
- Incapacitation, i.e., when the borrower is unable to pay due to his incapacity to work due to prolonged illness, etc.
- Becoming disabled
Clients are encouraged to liaise with their local Select branch in the event of any of the abovementioned to the extent that it negatively affects affordability. The aim of such an interaction is the following:
- Understand the underlying affordability and financial challenge of the borrower.
- Understand the impact on the financial position of the borrower as well as its affordability.
- Negotiate repayments on a restructured and affordable basis.
If the need arises for anyone to have this type of discussion with the Select Group, please feel free to contact your local Collections Manager as follows:
- Select Management Services, Kenya – Najma Dadar: +254 202 77 7500/1
- Select Management Services, Swaziland – Sikhumbuzo Mamba: +268 7618 5626
- Select Management Services, Malawi – McWilly Toto – Lilongwe: +265 175 8861/2/3/4
- Lesana Lesotho – Manthatisi Matsoso: +266 223 21180