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 rand was stronger against the dollar immediately after the Reserve Bank announced it would raise interest rates 50 basis points. The announcement, made on Thursday afternoon, brings the repo rate to 6.75% and the prime rate to 10.25%. At 3.36pm the local currency was trading at R16.2838 against the dollar from a previous close
Weak rand, drought, high food and elecricity costs make for difficult year A BLEAK year lies ahead for consumers with the weak rand, a possible rate increase this month, a drought and soaring food and electricity costs. Clif Johnston, the vice-chairman of the South African National Consumer Union, said consumers were anticipating a difficult year.
By Anelisa Salavu South Africa has moved from being a cash to a credit nation in the last seven years. Many factors which caused this include the downturn in the economy and also the rising unemployment rate especially among the youth. According to a World Bank study, South Africans were the world’s biggest borrowers in
“We haven’t seen this many developing economies slowing down at the same time in the last 30 years…” – World Bank development prospects group director Ayhan Kose, expressing his concern about the unprecedented weak economic growth among developing economies, which he says is a “worrisome development”, surpassed only by the recent economic crisis “If we
As the drought and economic outlook worsens, it’s becoming more essential to start saving. The year ended on a grim note with the worsening drought and as the rand weakens, economists like Rian le Roux, Old Mutual Investment Group’s chief economist predict a bleak year for consumers. Despite the negativity among South Africans and experts
Fewer than four out of every 10 of last year’s successful matriculants are going to get jobs immediately, which means that close to 500 000 unemployed youths will be joining the ranks of the unemployed this year. According to trade union Solidarity, the job market is tighter now than it has been for many years
Emerging market shares saw their biggest jump in two months yesterday, as a small rebound in oil prices and a rally in Chinese stocks drew investors back in after the worst start to a year for the asset class. The sudden return of risk appetite came despite the news that China’s economy grew at its
Cape Town – Debt is so terribly easy to incur – and so terribly difficult to get rid of. With South Africans said to be the biggest borrowers in the world, just about every single person needs to take a look at these debt-busting tips from Neil Roets, the CEO of Debt Rescue. While these
Durban – Economists have urged South Africans to tighten their belts and brace themselves for a rocky year ahead with higher food and fuel prices set to hit pockets hard as the rand continues to wobble. And, rubbing salt in the wound, South Africans have also been warned to ready themselves for an interest rate
