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.
The national saving rate as a percentage of nominal GDP showed a 13% decline in the final quarter of last year, indicating dissaving sentiment shared across households, businesses and government. This reading was down 2.9% from the quarter before (Q3 2022). When looking from a yearly perspective, the total percentage of savings, when compared to
By Princess Mahogo Debt Rescue CEO Neil Roets says government should be honest with itself when its unable to provide certain basic services. Roets has been commenting on Eskom’s 18.65% tariff increase, which came into effect for the power utility’s standard tariff or non-municipal consumers. Electricity tariff increases for consumers who pay directly to their
By Ina Opperman The 50 basis points increase was not unexpected, although many economists predicted an increase of only 25 basis points. Rolling blackouts still loom over interest rates, as they continue to contribute to a higher inflation rate, while no economic growth can happen while there is not a consistent power supply. The monetary
By Arisa Schamrel Vir heelparty verbruikers is dit nou ‘n geval van of skuld of ‘n honger gesin. So sê Annaline van der Poel, bedryfshoof van DebtRescue, oor die benarde geldelike toestand waarin baie Suid-Afrikaners hulle bevind. Met hemelhoë kos- en brandstofpryse lyk dit nie asof daar binnekort lig aan die einde van die donker
By Ina Opperman The latest credit stress report confirms that borrowing money to pay debts has become a lifeline for millions of South Africans, leaving them stuck in a debt spiral. Disturbing results from the latest Eighty20/XDS Credit Stress Report for the fourth quarter of 2022 show an increasing appetite for credit among customers, with
By Yogashen Pillay South African consumers will have to tighten their belts yet again come April as economists have predicted yet another interest rate hike, with some also forecasting a fuel price increase. In addition, Eskom’s 18.65% tariff increase will come into effect on April 1 for directly supplied or non-municipal tariffs. The power utility
By Ina Opperman The latest credit stress report confirms that borrowing money to pay their debts has become a lifeline for millions of South Africans, leaving them stuck in a debt spiral caused by a relentless onslaught of economic forces. Disturbing results from the latest Eighty20/XDS Credit Stress Report for the fourth quarter of 2022
By Ina Opperman South African consumers are borrowing more and more money to survive, but they cannot repay it, creating a bottomless debt spiral. The latest credit stress report confirms that borrowing money to pay their debts has become a lifeline for millions of South Africans, leaving them stuck in a debt spiral caused by
By Suthentira Govender South Africans are increasingly turning to credit to survive cost-of-living increases. This is according to Debt Rescue CEO Neil Roets, who analysed the “Eighty20/XDS Credit Stress Report” for the last quarter of 2022 to raise awareness during National Credit Education Month in March. The quarterly report highlights the impact of economic forces
The latest Eighty20/XDS Credit Stress Report for the fourth quarter of 2022 shows an increasing appetite for credit among South Africans, with more than 800,000 new entrants into the credit market over the period. However, this has come with a surging number of loans, notably credit card, VAF and home loans, that are newly in
