Pick n Pay has approved over R1 billion in credit to some 56,000 account holders since the launch of its store account in September last year. The retailer worked with RCS to design the account to be “the most affordable form of credit” – a monthly account where no interest is charged if the balance… Continued
Pick n Pay taken to task as claims emerge of Rlbn extended to unsuspecting, naive customers for groceries RETAILER Pick n Pay has come under fire for reportedly exploiting financially illiterate consumers in the wake of an announcement by the retailer it has approved and granted at least R1bn credit facilities to consumers. Debt Rescue CEO Neal… Continued
Correction: This article has been amended to clarify that the R1bn refers to the total credit facility made available by Pick n Pay for cards. It does not refer to credit already taken up by customers, as Fin24 wrote in a previous version of this article. Johannesburg – Pick n Pay says it has granted R1bn… Continued
Pick n Pay will avoid building “huge stores”, as consumers are becoming less inclined to do large weekly purchases, says CEO Richard Brasher. Excluding its Zimbabwean operations, the retailer opened 124 net new stores in the year to February 25, adding 3.3% to its total space. None of these new stores was hypermarkets, while the… Continued
A PANEL of experts will be appointed by the finance minister to ensure that the increased VAT rate is not regressive – and that 19 zero-rated food items will continue to be so, the national treasury said at the weekend. The chairperson of the Davis tax committee, Judge Dennis Davis, will appoint a panel of independent experts… Continued
Beleérde SAIDseslegte skuld skietmet 50% op Jan Taks seslegteskuldvan belastingbetalers wat weier om hul aanslae te betaal, het binne net een jaar met meer as 30% gestyg. Die Suid-AfrikaanseInkomstediens (SAID) het by navraag gesê sy uitstaande slegteskuld wastwee weke gelede R150miljard. ‘n Jaarvroeër was dit R139miljard – 30% meer asdie slegteskuld wat dit in Februarie… Continued
Debt laden consumers owe R1.73 trillion ALTHOUGH the drop in fuel prices from today will bring some relief to deeply indebted consumers, it will be short-lived, as the value-added tax (VAT) rate is set to see a price hike next month. The Department of Energy announced last week that as from today the price of… Continued
Die herroeping van polonie en ander verwerkte vleisprodukte weens ‘n listeriose-uitbreking sal ‘n reuse-impak op die heel armste deel van die bevolking hê. Dit is omdat dié deel staatmaak op dié goedkoop bron van proteïene, sê Neil Roets, uitvoerende hoof van die skuld beradings groep Debt Rescue. Volgens die minister van gesondheid, Aaron Motsoaledi, het… Continued
Debt Rescue has predicated the recall of processed meats could have financial implications for poor South Africans. Debt Rescue says the recall of processed meats will have dire consequences for stokvels and the poor of the country. The production of polony, russians, cold meats, viennas and other processed meats have been stopped at three major… Continued
The damage done to the economy by nine years of Jacob Zuma’s presidency was so severe that even his decision to resign with immediate effect is unlikely to reverse the decision by rating agencies to further downgrade South Africa’s credit rating. Independent economist Dawie Roodt said there was a strong possibility that Moody’s and Fitch… Continued
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