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For many it is becoming impossible to keep up with the rising cost of living By DENENE ERASMUS The rising cost of food, electricity and fuel is making life more expensive for South Africans — and for many meeting basic expenses is becoming out of reach. The January 2022 Household Affordability Index, published by the Pietermaritzburg […]

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 […]

Debt counselors are seeing a growing number of South Africans who have lost money gambling in crypto-currencies such as bitcoin and ripple. Some of them were victims of online scams, which resulted in their bank accounts getting raided by offshore hackers, or they were robbed by sellers who never actually delivered the digital currency after […]

After a long December holiday of over-spending and poor planning‚ pawn-shop and second-hand dealers are expecting an influx of people desperately short of cash in January. Meanwhile‚ debt rescue service providers say they see a “dramatic” increase in the number of people requesting their help at this time of year. Tom Fuhri‚ CEO of the […]

THE recent antipoor statement by Herman Mashaba, the Democratic Alliance’s (DA’s) Johannesburg mayoral candidate, during an interview on SABC, should not shock us at all. “It is interesting that you can expect poor people to be leaders. That is looking for trouble, in any given situation… The budget of the city of Johannesburg is R40bn […]

While the increase in the price of diesel between 62c and 63c a litre from Wednesday is going to bring some relief to battered consumers who depend on road transportation to convey most of the commodities they consume including food‚ the dismal state of the economy is going offset this drop. That’s the view of […]

THE rand was stronger against the dollar immediately after the Reserve Bank announced it would raise interest rates 50 basis points. The announcement, made on Thursday afternoon, brings the repo rate to 6.75% and the prime rate to 10.25%. At 3.36pm the local currency was trading at R16.2838 against the dollar from a previous close […]

THE Reserve Bank could this year be compelled to raise interest rates more frequently than last year to prevent the rand from pushing up prices, economists said. This trend could start at the Bank’s first meeting of the year at the end of this month. At 5.08pm on Monday, the rand was at R16.6565/$ after […]

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