L
General
Loan Shark (Mashonisa)
An unregistered, illegal lender who provides loans at extremely high interest rates, often targeting vulnerable communities. Known as 'mashonisa' in South Africa, loan sharks operate outside the law and may use intimidation to collect debts. Borrowing from a loan shark is dangerous — they are not regulated by the NCR.
Usage Examples
"The mashonisa in her neighbourhood charged 50% interest per month — ten times the legal maximum."
"If a lender cannot show you their NCR registration number, they may be an illegal loan shark."
"Report illegal loan sharks to the NCR or SAPS — they are committing a criminal offence under the NCA."