Stay informed with the latest news and expert opinions from South Africa’s leading news agencies. Debt Rescue’s CEO Neil Roets and Debt Rescue’s COO, Annaline van der Poel, shares economic insights, explains how debt review can help over-indebted consumers, and valuable financial advice. From expert interviews to breaking news, this page brings you honest discussions about money, debt counselling, and actionable tips to help you take control of your debt.
Neil Roets, chief executive of Debt Rescue, said the mini budget containedencouraging signals for consumers, but many households continued toface significant financial pressure from high living-cost, debt repaymentsand weak economic growth. Roets welcomed the temporary fuel levy reductions, which will lower thelevy on petrol by R1.50 per litre and diesel by R3 per litre from
Neil Roets, CEO of Debt Rescue and a consumer debt specialist, said thespeed of the increases was making it increasingly difficult for householdsto adjust their budgets. “It is just not possible for family budgets to absorbrepeated large increases such as these over such a short period of time.For many already financially distressed households, increases of
Neil Roets, the CEO of Debt Rescue, said that when 12% of households arereporting highest level of hunger in 16 years, it is not only at food-securityproblem. “We are seeing the consequences of severe and sustained pressure onhousehold finances. We at Debt Rescue have consistently warned that thereal measure of financial pressure is not simply
Neil Roets, CEO of Debt Rescue, said the latest increase comes after petrolprices climbed sharply from around R20 a litre in March. In March, filling a 45 litre tank cost R913.50.At R30.08 a litre, the same tank would now cost R1,353.60. Roets said this means the cost of filling a tank has increased substantiallyin just
Neil Roets, CEO of Debt Rescue, said the latest increase comes after petrolprices climbed sharply from around R20 a litre in March. In March, filling a 45 litre tank cost R913.50. At R30.08 a litre, the same tank would now cost R1,353.60. Roets said this means the cost of filling a tank has increased substantiallyin
Neil Roets, CEO of Debt Rescue and a consumer debt specialist, said thespeed of the increases was making it increasingly difficult for householdsto adjust their budgets. “It is just not possible for family budgets to absorbrepeated large increases such as these over such a short period of time.For many already financially distressed households, increases of
According to Annaline van der Poel, Chief Operating Officer at Debt Rescue, the latest sharp spike of over R3 per liter is almost entirely driven by global supply fears and international market panic rather than domestic factors alone. Globally, escalating conflict in the Middle East has pushed Brent crude oil well past $100 a barrel.
Neil Roets, CEO of Debt Rescue and a consumer debt specialist, said thespeed of the increases was making it increasingly difficult for householdsto adjust their budgets. “It is just not possible for family budgets to absorb repeated largeincreases such as these over such a short period of time. For many alreadyfinancially distressed households, increases of
Debt Rescue chief executive Neil Roets has previously warned that fuelincreases can force financially stretched households to cut back ongroceries, healthcare, insurance or savings, or turn to credit to cover basicexpenses. For businesses, higher transport and production costs threaten alreadytight margins. Smaller businesses that cannot easily pass these increaseson to customers may be forced to
Debt Rescue chief executive Neil Roets has previously warned that SouthAfrican households are facing a cumulative affordability crisis, with food,fuel, electricity, transport and debt costs increasingly competing for thesame limited income. In recent research cited by Roets, food and groceries were identified as themost difficult household expense to afford by 39.6% of respondents,followed by fuel
