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.
Fiscal deficit: Mboweni may increase taxes Danger of consumers using fuel price decrease as an excuse to start spending. he recent fuel price drop that was favoured by the good performance against the US dollar could be undermined by a tax increase, come from Finance Minister Tito Mboweni’s mid-term budget, and the possibility that ratings
Privatisation of Eskom vital to restoring the SA economy If the utility struggles to produce power for basic needs, it will leave SA unable to compete in the Fourth Industrial Revolution and the economy in tatters. Eskom’s failure to produce adequate electricity supply could leave South Africa at the bottom of the food chain when
Cash-strapped consumers will have to fork out even more money as the price of petrol is set to rise by 18 cents a litre this week. The Department of Mineral Resources and Energy announced the price changes on Sunday, stating that the price of 95 (ULP and LRP) will rise by 18 cents a litre
Hope for the hopeless A new law could see millions of people’s debt in South Africa wiped out – but it’s controversial She rises before the crack of dawn. Travelling long distances from her home in the suburb of Kraaifontein to her jobs in central Cape Town and other parts of the Mother City. Noloyiso
New debt relief laws to write-off debt South Africa’s new debt relief laws will harm its international standing and may ultimately lead to a further credit downgrade. This is according to Dawie Roodt, chief economist at the Efficient Group, who said that the new legislation will also add to the country’s growing national debt. “We’re
Consequences of the new debt relief bill The new debt relief bill could have dire unintended consequences, Dawie Roodt, chief economist at the Efficient Group, has warned. The National Credit Amendment Bill was drawn up by the portfolio commit-tee on trade and industry in the fifth parliament. The law allows low-income workers to extract themselves
The National Credit Amendment Bill, signed into law by President Cyril Ramaphosa earlier this week, is not a mechanism to expunge debt for the over-indebted. Rather, it’s an instrument allowing the low-income market access to debt review at no cost. Once Gazetted, debt intervention will be accessible to a market that doesn’t qualify, or is
Here’s how the government bailouts of SOEs will affect consumers Durban – The bailouts from government to various state-owned enterprises (SOEs) will have a significant effect on consumers, according to Debt Rescue’s Neil Roets. The funds required from government for such bailouts are enormous. Eskom has been granted an additional bailout of R59billion, but without
A number of South Africans are facing a ‘debt spiral’ as they battle with the cost of living in the country. Neil Roets, CEO of Debt Rescue, pointed to a 21% increase in applications for debt review in the first quarter of 2019 compared to the same period last year. “All of the main economic
Volgens ‘n onlangse peiling van Budget Insurance, sê meer as die helfte (52%) van Suid Afrikaners dat hulle wel vir ‘n noodgeval spaar terwyl net 19% vir 3 maande sal kan oorleef indien hulle sonder ‘n inkomste sal wees. Die enigste manier om die situasie te verbeter is deur werkskepping alhoewel dit nie tans lyk
