Consumers warned to tighten their belts
Weak rand, drought, high food and elecricity costs make for difficult year A BLEAK year lies ahead for consumers with the weak rand, a possible rate increase this month, a drought and soaring food and electricity costs. Clif Johnston, the vice-chairman of the South African National Consumer Union, said consumers were anticipating a difficult year. […]
Avoid debt trap while building a reputable credit record
By Anelisa Salavu South Africa has moved from being a cash to a credit nation in the last seven years. Many factors which caused this include the downturn in the economy and also the rising unemployment rate especially among the youth. According to a World Bank study, South Africans were the world’s biggest borrowers in […]
Speak Out
“We haven’t seen this many developing economies slowing down at the same time in the last 30 years…” – World Bank development prospects group director Ayhan Kose, expressing his concern about the unprecedented weak economic growth among developing economies, which he says is a “worrisome development”, surpassed only by the recent economic crisis “If we […]
Make 2016 your year to save
As the drought and economic outlook worsens, it’s becoming more essential to start saving. The year ended on a grim note with the worsening drought and as the rand weakens, economists like Rian le Roux, Old Mutual Investment Group’s chief economist predict a bleak year for consumers. Despite the negativity among South Africans and experts […]