SA saving – based on earnings

A report from Old Mutual shows how much money South African households are managing to put away each month under a very stretched economy. Overall consumer debt is growing, and the fact that ratings agency S&P flagged it as a major risk to the country’s banking sector should act as a wake up call for […]

Employers should encourage financial literacy

South Africa has one of the worst savings rates in the world, according to statistics released by the South African Reserve Bank, which found that the country’s savings rate is only 15,4% of GDP – far below the desired rate of 25%.  As July marks South Africa’s National Savings Month, ManpowerGroup South Africa’s managing director, […]

Consumer debt poses major risk factor for banks

Overall consumer debt is growing and the fact that ratings agency S&P flagged it as a major risk to the country’s banking sector should act as a wakeup call for consumers and banks. Neil Roets, CEO of Debt Rescue, said there had been a noticeable increase in the number of distressed consumers who had knocked […]

Economists predict big fuel price drop in July

Durban – Economists have predicted a large drop in fuel prices by July as the international oil price remains depressed. Independent economist Dawie Roodt said on Monday he expected the petrol price to decline by between 60 and 64 cents a litre, while diesel could drop by about 60 cents a litre. “The rand has […]