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A person or organisation that specialises in making small, short-term, unsecured loans usually at very high interest rates. Following the end of the apartheid era and the advent of the ANC, the microlending industry took off and there were some unethical practices where very poor people ended up paying more than half of their monthly salaries in interest. These practices were substantially curtailed by the National Credit Act (34 of 2005) which made the lender responsible for ensuring that the person taking the loan had sufficient means to repay it. Today microlending has become a smaller part of the credit market.