OMBUD COUNCIL ANNUAL REPORT 2024/25

PART B: PERFORMANCE INFORMATION

● In line with the Ombud Council’s strategic approach to promoting awareness of ombud schemes and the services they provide being a collaborative one, the Council appointed the GTAC to assist in developing a “fit for purpose” business model for collaborating with key stakeholders in consumer education and awareness initiatives. This exercise was completed in December 2024. ● The Ombud Council is an active member of the National Consumer Financial Education Committee, a sub-committee of the Financial System Council of Regulators chaired by the National Treasury. The Council is also a member of the National Consumer Financial Education Strategy Working Group, which will be developing the strategy underpinning the National Financial Consumer Education Policy (still to be published). ● The Ombud Council became a member of the Consumer Protection Forum, a platform comprising stakeholders such as regulators, consumer groups, and industry representatives regarding consumer rights and protection. The Ombud Council uses its participation in this forum to identify further opportunities to support our consumer education and financial inclusion responsibilities and collaborate with other players in the financial education space. ● The Ombud Council participated in Money Smart Week South Africa, the National Consumer Financial Education Committee’s flagship annual consumer education initiative, through producing social media messages about the ombud system, and the Chief Ombud participating in a webinar together with several of the ombud schemes about the services provided by ombuds. ● Developing and funding an extensive advertising campaign for the financial sector ombud system and the ombud schemes, including online digital media advertisements alerting the public to the ombud schemes, airport and outdoor digital billboards as well as radio interviews. ● Developing an advertising campaign in two phases for the NFO, an industry scheme established following the amalgamation of four former industry ombud schemes (the Credit Ombud; Ombud for Banking Services; the Ombud for Long-term Insurance Ombud; and the Ombud for Short-Term Insurance) and recognised by the Ombud Council in March 2024. The initial phase of this campaign included digital advertisements and national radio coverage and phase two featured community and regional print advertisements and radio coverage, including content produced in selected vernacular languages.

● Participating in an initiative of the Department of Economic Development and the Department of Environment, Conservation and Tourism to share information about the financial ombud system and the ombud schemes. ● Providing content in newsletters of the ombud schemes and the FSCA about the financial sector ombud system. ● Engaging with the service provider appointed by the FSCA to update and verify the “My Money Learning Series” content in relation to the Ombud Council, the ombud system and the financial ombud schemes. ● Hosting a webinar, “Know Your Financial Rights” in collaboration with the FSCA, the schemes and a human rights stakeholder to commemorate World Consumer Rights Month. ● Hosting a webinar and attending in-person events to inform stakeholders about the development of the Ombud Council Rules for the FAIS Ombud. ● Ongoing monitoring of the consumer education and awareness initiatives of ombud schemes takes place at quarterly Ombud Liaison Forum meetings and onsite inspections. ● The appointment of the Communications Officer in January 2025 whose responsibilities include support on consumer education/awareness and broader stakeholder engagement functions, added much needed capacity for this part of the Council’s mandate. Accordingly, despite only partial achievement of specific deliverables in the Stakeholder Engagement Plan, the Ombud Council is confident that we have made significant progress in meeting the strategic intent of promoting and enhancing financial consumer awareness of recognised ombud schemes and redress rights, thus promoting financial inclusion. OUTCOME 7: THE IMPLEMENTATION OF REGULATORY AND INSTITUTIONAL REFORM OF THE OMBUD SYSTEM IS WELL MANAGED The Ombud Council continues to operate in an environment of significant pending regulatory and institutional reform of the ombud system itself, and the broader financial sector legislative framework of which the ombud system forms a part. The Ombud Council’s Strategic Plan therefore recognises that it is imperative for the Council to actively contribute to shaping the future ombud system, to ensure the Council’s readiness to continue delivering on its core statutory objective and maintain relevance in the new regime.

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OMBUD COUNCIL ANNUAL REPORT 2024/25