The Association of South African Factors and Discounters (ASAFD) was formed in 1994 to cater for the industrial issues that are common to all financiers who are engaged in the business of providing working capital to entrepreneurs by factoring or discounting their invoices.

Over the years, and during the last decade particularly, the industry has been buoyant as the realisation of how the industry can stimulate growth and development in South Africa began taking hold. The ‘Statistics’ page within this website shows this progress.

Because of the growing annual turnovers (i.e. invoices offered for financing), now in excess of R50 Billion per annum, by the members, a decision was taken in 2001 to incorporate the affairs of ASAFD into those of The Banking Association South Africa. A formally established committee of the Banking Association was formed called the Debtor Financing Committee.

The members of this Committee consist of the debtor financing divisions or subsidiary companies of the major South African banking groups. The page within this website headed ‘Members’ gives a full list of the names and contact numbers.

The industrial purpose of the Debtor Financing Committee is educational in its nature ensuring that existing and potential users of the systems have a good understanding of the financial products used, and their potential.  The educational drive is also directed toward the personnel who work in the debtor finance houses to ensure that they meet the industrial Unit Standards as required by the Skills Development Act, and to assist the personnel in obtaining some kind of qualification in the work they are doing.

The website is also designed to assist accountants, lawyers, journalists and students who need access to the information from time to time.