In The Press


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

Nokuthula Zwane SOUTH Africans have been warned to brace themselves for tough times in the new year. Debt Rescue chief executive Neil Roets has cautioned consumers to enjoy the festive season responsibly and not get in debt. He said major price increases are predicted for food and essential items due to the slow economic growth… Continued

THE guilty verdict against Lewis Stores for infringing the National Credit Act by the National Credit Regulator (NCR) was just the tip of the iceberg and many more listed and privately-held entities extending loans were guilty of these practices. Neil Roets, CEO of one of the lar­gest credit management corporates in South Africa, said the… Continued

Judgment to benefit the poor Siseko Njobeni THE CONSTITUTIONAL Court judgment on garnishee orders was likely to reduce the risk appetite of lenders and could see “risky” individuals struggle to obtain finance, Fincheck chief executive, Mi­chael Bowren said yesterday On Tuesday the court ruled that aspects of the enforcement of garnishee orders were un­constitutional. Various… Continued

DESPITE the practice being out­lawed, reckless lending contin­ues unabated – so much so that the National Consumer Tri­bunal (NCT) has received double the number of complaints. The tribunal dealt with 9 589 cases in 2014/15 and in the 2015/16 financial year this figure rocketed to 19 097. Over a three-year period, the tribunal’s case load… Continued

SOUTH AFRICANS are R1.64 trillion in debt and find­ing it very hard to get out of the trap. People aged between 31 and 45 collectively owe 53 percent of all outstanding debt. Most of the debt is for personal loans, less than a quarter have any money left after bills have been paid and 40… Continued

Government revenues will, however, continue to remain vulnerable to a further deterioration in economic conditions IN ADDRESSING the persis­tent budget deficits, as ex­pected, a combination of in­creased taxes and cost containment has been pro­posed, with forecasts of a reduction in the budget deficit to 2.4 percent in 2019. With respect to increased revenue, the implications… Continued

SOUTH AFRICA’S higher and middle-income consumers plan to spend 34 percent more this Christmas than they did last year, according to a new survey But the Acentric Christmas Shopping Intentions Survey 2014 found most of the buying will be for food, clothing and alcohol. “We can expect most of the spend to come from younger… Continued

SOUTH AFRICA’S higher and middle-income consumers plan to spend 34 percent more this Christmas than they did last year, according to a new survey But the Acentric Christmas Shopping Intentions Survey 2014 found most of the buying will be for food, clothing and alcohol. “We can expect most of the spend to come from younger… Continued

With the petrol price scheduled for a 10 cents a litre increase and the escalation in the lending rate of .25% announced by the Reserve Bank, deeply indebted South Africans are in for a torrid time. With some 21.71 million credit-active consumers collectively owing around R1.44-trillion as at the end of March (according to Statistics… Continued

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