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.
According to Neil Roets, CEO of Debt Rescue, 95 unleaded petrol has risenfrom around R20 a liter in March to more than R30 a liter. A 45-liter tank that cost just over R900 in March now costs more thanR1,350, representing a substantial increase for households that rely onprivate vehicles for everyday travel. “We at Debt
Neil Roets, CEO of Debt Rescue and a consumer debt specialist, said the speed of the increases was making it increasingly difficult for households to adjust their budgets. “It is just not possible for family budgets to absorb repeated large increases such as these over such a short period of time. For many already financially
Debt Rescue’s Annaline van der Poel said families have had very little timeto adjust their budgets to the rapid increases. “A 45-litre tank that cost just over R900 in March now costs more thanR1,350. For many South Africans, fuel and transport are expenses theysimply cannot avoid. The problem is that every additional rand spentgetting to
Neil Roets, CEO of Debt Rescue, said this reflected a broader change in howhouseholds are managing their money. “At Debt Rescue, we see this as part of a broader change in householdmoney management: shoppers are paying much closer attention to whatthey are buying, what they actually need and whether the price they arepaying can be
Debt Rescue CEO 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,”
Neil Roets, CEO of Debt Rescue, said this reflected a broader change in howhouseholds are managing their money. “At Debt Rescue, we see this aspart of a broader change in household money management: shoppers arepaying much closer attention to what they are buying, what they actuallyneed and whether the price they are paying can be
The South African Reserve Bank (SARB) has ratcheted up the financialpressure on already stretched households, hiking the repo rate by 25 basispoints to 7.25% and taking the prime lending rate to 10.75%.SARB GovernorLesetja Kganyago pointed directly to the inflationary fallout from the globalenergy shock as the primary driver for the tightening cycle. With imminentOctober petrol
Debt Rescue CEO Neil Roets said the rising living costs was concerning forhouseholds already under financial strain. “In the face of the expectedOctober petrol and diesel price increases, driven by global energy marketinstability and rand weakness, which will impact transport, distribution, andfood prices worsening inflationary pressures, the accumulated impact willplace already financially stretched South African
Neil Roets, CEO of Debt Rescue, said rising interest rates will also hurtbusinesses, which can lead to job losses. “We can expect a serious disruption to the working economy. Higherborrowing costs affect households directly, but they also flow through tosmall businesses – a critical part of South Africa’s economy,” Roets said.“Pressure on business cash flow
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.
