Shock treatment of Clients

I app**** for a loan with Iziwe Loan Company for the amount of R60,000, and the experience has been extremely disappointing. To date, I have already paid R48,000 towards this loan — and yet the loan is still not paid out to me.

When I questioned the fees and asked to cancel the loan and recover my funds, I was told that I would have to pay an additional R2,500, bringing my total payments to R50,500, without receiving the full value of the loan. This is unacceptable and feels like a deliberate attempt to exploit clients financially.

Furthermore, Iziwe frequently changes their phone number, which makes it extremely difficult to reach them or maintain any form of consistent communication. I also have details of the bank account and the account manager's name, which I will be reporting to the relevant authorities.