Rising petrol, electricity, rate hikes will drag South Africans deeper into debt
JOHANNESBURG -The 47 cents per litre petrol price increase due to kick in on Wednesday, electricity hikes and an almost certain rate hike by the Reserve Bank later in 2015 will have a devastating impact on consumers, CEO of Debt Rescue, Neil Roets, says. “The present combination of economic factors is going to severely impact […]
SA leads the world in living on credit
According to a World Bank report last year we borrowed more than any other country as most people sought loans to cover daily living costs. This might be why we shun financial institutions, preferring to take loans from family, friends and microlenders. Worldwide, 40% of people took out a loan in the year, reported the […]
Petrol price expected to continue increasing
The price of petrol has increased by 47 cents a litre while diesel will now cost motorists between 46 and 49 cents more per litre. Economists have urged South Africans to tighten their belts as a 47c petrol increase takes effect on Wednesday morning. Electricity tariff increases and a possible interest rate rise later this […]
PETROL PRICE INCREASE TO HIT GAUTENGERS THE HARDEST
Gauteng residents are in for a rough ride with e-tolls, electricity hikes & now a petrol price increase. JOHANNESBURG – With fuel prices increasing this morning, economists have again warned tough times lie ahead for consumers, especially Gauteng residents. Coupled with e-tolling, a hike in electricity tariffs and a possible interest rate rise later in […]
Electricity cost, expected rate hike will hit hard
THE rise in electricity tariffs and an almost certain rate hike by the Reserve Bank later in the year were going to have a devastating impact on consumers, the chief executive of Debt Rescue, Neil Roets, said yesterday “The present combination of economic factors is going to severely impact on con¬sumers, many of whom are […]
Rising fuel and electricity prices hit SA hard
JOHANNESBURG – The 47 cents per litre petrol price increase due to kick in on Wednesday, the rise in electricity tariffs and an almost certain rate hike by the Reserve Bank later in the year were going to have a devastating impact on consumers, CEO of Debt Rescue, Neil Roets, said on Tuesday. In a […]