BusinessTech


The industry’s top experts offer their best advice, research, how-to’s, and insights

A senior investment executive at Rand Merchant Investments says that Bitcoin’s volatility will continue in 2018, but it could begin to emerge as a payment system in South Africa. Having soared more than 1,500% in 2017, Bitcoin has experienced extreme levels of volatility since mid-December. From a peak of nearly $20,000, the largest digital currency… Continued

South Africans are pawning their cars and taking out second bonds to buy Bitcoin: debt expert A debt expert says that a rapidly growing number of deeply indebted consumers are getting themselves into financial trouble by investing in cryptocurrencies including Bitcoin and Ripple. Neil Roets, CEO of debt counselling company, Debt Rescue, said he was… Continued

Consumers are in for yet another price shock when the price of fuel is expected to skyrocket in December. Independent economist Dawie Roodt said that thanks to the plummeting rand and rapidly increasing crude oil prices, South Africans can expect to pay as much as 70 cents a litre more for petrol in December while… Continued

A new survey conducted by insurer 1Life shows that South Africans are struggling financially, with high levels of debt putting pressure on households and leaving little room for monthly expenses. The group conducted the survey in July, testing consumers’ understanding of saving and financial responsibility. Addressing the survey results, 1Life said that despite knowing how important saving… Continued

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… Continued

Debt counselling company, Debt Rescue, says it has experienced a substantial increase in financially distressed consumers applying for debt review over the past few months. Debt Rescue CEO, Neil Roets said that since the beginning of January there had been a marked increase in the number of consumers who sought relief by going under debt… Continued

Government’s mooted debt forgiveness programme would plunge consumers deeper into debt in the long term, says debt management expert, Neil Roets. He said that recommendations by the Department of Trade and Industry (DTI) that the National Credit Act be amended to allow the minister to prescribe debt relief measures (debt forgiveness) to over-indebted households also… Continued

The news that South Africa’s economy has slipped into a technical recession in the first quarter of 2017 is likely to have negative knock-on consequences for consumers. The latest gross domestic product (GDP) data released by Stats SA on Tuesday showed that the South African economy declined by 0.7% in the first quarter of 2017, having declined… Continued

Debt management firm, Debt Rescue says that middle class South Africans have been feeling the economic downturn for some time, with petrol and electricity price hikes, along with spiralling food costs leaving many in a debt bind. The company highlighted a recent in-house survey conducted by Sanlam which showed that 73% of professional middle class… Continued

Government’s mooted debt forgiveness programme would plunge consumers deeper into debt in the long term, says debt management expert, Neil Roets. He said that recommendations by the Department of Trade and Industry (DTI) that the National Credit Act be amended to allow the minister to prescribe debt relief measures (debt forgiveness) to over-indebted households also… Continued

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