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 CEO Neil Roets said the cumulative impact of higher interestrates and rising living costs was particularly concerning for householdsalready under financial strain. “In the face of the expected October petrol and diesel price increases,driven by global energy market instability and rand weakness, which willimpact transport, distribution, and food prices, worsening inflationarypressures, the accumulated
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. “Pressure on business cash flow can
Neil Roets, CEO of Debt Rescue, said the increase comes at a particularlydifficult time for households already battling to afford basic essentials. “In the face of the expected October petrol and diesel price increases,driven by renewed global energy market instability and disruptions to oilsupply, which will impact transport, distribution and food prices, worseninginflationary pressures –
Debt Rescue CEO Neil Roets warns that simply stopping payments is not asolution either. “This will lead to rapid legal action, potential assetrepossession and skyrocketing legal fees,” he says. He also cautions against borrowing from unverified informal lenders tocover daily shortfalls, as this can deepen the debt spiral. “It’s not always the big bills that
“Millions of South Africans who are already battling to afford the basicessentials are reeling from the news,” Neil Roets, CEO of Debt Rescue, wrotein his statement on the decision. “The rate hike itself is just the tip of the iceberg. Higher borrowing costsaffect households directly, but they also flow through to small businesses –a critical
Neil Roets, CEO of Debt Rescue said that while the Sarb does notautomatically follow the Fed’s decisions, it still is significant for South Africabecause it changes the external conditions that the central bank mustconsider ahead of its own interest-rate decision that will be announcedlater this week on Wednesday. “We at Debt Rescue are particularly concerned
What it could mean for households Neil Roets, CEO of Debt Rescue said thatthe Fed’s decision this week matters well beyond the US. “I believe a 25-bps increase is now a real possibility. For South Africa, thatwould add another layer of pressure ahead of the Reserve Bank’s decisionnext week. We at Debt Rescue are concerned
Debt Rescue CEO Neil Roets said that rising diesel prices is particularly concerning because of its widespread impact across the economy. “From a consumer debt perspective, a sharp diesel increase is particularly concerning because diesel is embedded in the cost of transporting food, operating public transport, supporting agriculture and delivering essential goods. “Even consumers who
When September’s increase was announced, Debt Rescue CEO Neil Roets warned that the impact would extend far beyond motorists. “Diesel is the lifeblood of our logistics and agricultural sectors,” Roets said, warning that a sharp increase could feed through into the cost of essential goods, staple foods and public transport. He described the September increase
Debt Rescue warns that rising fuel prices are placing consumers under increasing financial pressure, stretching household budgets and pushing many further into debt. Small businesses and families are expected to bear the brunt as higher transport costs drive up the price of essential goods and services. Watch the full interview here.
