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, 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
Neil Roets, CEO of Debt Rescue, said the latest increase comes after petrolprices climbed sharply from around R20 a liter in March. In March, filling a45-liter tank cost R913.50. At R30.08 a liter, the same tank would now cost R1 353.60. Roets said thismeans the cost of filing a tank has increased substantially in just
Debt Rescue DEO Neil Roets said the cumulative impact of higher interestrates and rising living costs was particularly concerning for householdsalready under financial strain. “The expected October petrol and diesel price increases will impacttransport, distribution and food prices and worsen inflationary pressures.The accumulated impact will place already financially stretched SouthAfrican households under even greater pressure,”
Debt Rescue CEO Neil Roets said the latest increase was another significantblow for households already under severe financial pressure. “We at Debt Rescue are particularly concerned about the cumulativeimpact on consumers, because this increase comes at a time whenhousehold budgets are already being squeezed by elevated transport,housing, utilities and other essential living costs, “Roets said.
Debt Rescue’s Annaline van der Poel discusses how rising fuel prices andinflation are stretching household budgets, leaving families little time toadjust. As living costs increase, households face growing challenges incovering groceries, electricity, healthcare and insurance, while managingdebt repayments and maintaining savings. Listen to the full interview here.
In this news clip, Annaline van der Poel explains that rapid fuel priceincreases have left families with little time to adjust their budgets. Filling a45-litre tank now costs more than R1,350, compared with just over R900 inMarch, placing further pressure on household finances. Listen to the full interview here.
