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.
Debt Rescue’s latest national survey reveals a stark reality for South African households under intense pressure from rising electricity costs. According to the findings, 79% of consumers now rely on prepaid electricity and only load what they can afford — often leaving homes without power before month-end. Even more troubling, 86% of respondents said they’ve
In Brief: Bleak Easter for South Africans Despite a modest petrol price cut, 58c for 93 unleaded and 72c for 95, South Africans faced an especially costly Easter, with the small relief swallowed by surging electricity tariffs and stagnant wages. Neil Roets, CEO of Debt Rescue, warned that these minimal fuel decreases offer “no real
In Brief: SARB Rate Decision Deepens Consumer Debt Crisis Neil Roets, CEO of Debt Rescue, says the South African Reserve Bank’s decision to maintain interest rates unchanged, combined with upcoming VAT increases, unchanged personal income tax brackets, and a substantial rise in electricity tariffs, is placing immense financial pressure on South African consumers. Roets warns
In Brief: Repo Rate decision pushing consumers deeper into debt. Neil Roets, CEO of Debt Rescue, says the South African government’s recent decisions, including keeping the repo rate unchanged, increasing VAT, and failing to adjust personal income tax brackets for inflation, are placing immense financial strain on consumers. The additional 12.7% electricity tariff hike will
Interest Rate Cut in Brief: Experts Split on the Best Path Forward Experts remain split on whether the South African Reserve Bank’s Monetary Policy Committee (MPC) will announce another interest rate cut this Thursday, with differing views on economic stability and inflation risks. Neil Roets, CEO of Debt Rescue, questions whether another rate cut would
Budget 2025 in Brief: What It Means for Consumers The revised budget increases VAT by 0.5% this year and another 0.5% next year, while personal income tax brackets and medical credits remain unchanged, effectively raising the tax burden on consumers. Despite no fuel levy increase, excise duties on alcohol and tobacco will rise above inflation,
South Africans hoping for financial relief were left disappointed by the latest petrol price cut. Neil Roets, CEO of Debt Rescue, has dismissed the 7-cent decrease as “the extension of an olive branch” that will quickly disappear amid rising costs. Rising Costs and Impossible Choices With a 12.7% electricity tariff increase set for April 1st,
Consumers Already Struggling Under Financial Pressure Neil Roets, CEO of Debt Rescue, has warned that increasing VAT would be devastating for consumers who are already struggling to afford essentials like food, transport, and electricity. “A VAT hike in the current economic climate would be catastrophic. Consumers are drowning in debt, and increasing VAT would push
Neil Roets, CEO of Debt Rescue, told Business Report ( IOL) that South African consumers are under increasing financial strain due to rising fuel and electricity costs, combined with the slow pace of interest rate reductions. While the cost of living is rising at a slower rate, he noted that this offers little relief to
Neil Roets, CEO of Debt Rescue, warns that the latest petrol and diesel price increases will push South Africans deeper into financial distress, making it even harder for consumers to keep up with the rising cost of living. Petrol 95: Increase of 82 cents per litre, bringing the price to R22.41 per litre Petrol 93:
