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.
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.
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
