The Citizen


The industry’s top experts offer their best advice, research, how-to’s, and insights

– Deeply indebted consumers should think long and hard before plunging themselv es even deeper into debt by splurging on luxury goodson Black Friday. Often deals offered by major retailers seem so good that consumers throw caution to the wind and blow their entire Christmas budget on expensiv e items such as high-end TVs and… Continued

Roets also urged consumers to rather save their Christmas bonus and use it to pay school fees and other accounts. The drop in fuel price that comes into effect at midnight on Tuesday and recent decisions by the three main sovereign rating agencies not to downgrade South Africa to junk status is all Christmas cheer,… Continued

The drop in fuel price that comes into effect at midnight tonight and recent decisions by the three main sovereign rating agencies not to downgrade South Africa to junk status is all Christmas cheer, but an economist warns consum­ers against opening their purses too wide this festive season. The price of petrol will drop by… Continued

TOUGH: RECKLESS LOANS COULD BE WRITTEN OFF Many retailers are breaking law on massive scale, says Credit Rescue. Reckless lenders could find themselves on the wrong side of the law when new legislation comes into effect. Credit providers, including micro-lenders, retailers and even banks, who grant loans to over- indebted customers, could be tar­geted. Major… Continued

The price of fuel is expected to drop next month, holding out the promise of relief for consumers. The petrol price will likely drop by up to 83 cents a litre, the diesel price is estimated to drop by 45 cents a litre and illuminating par­affin will cost 42 cents less for a litre. This… Continued

Debt managers say there was nothing in President Jacob Zuma’s State of the Nation Address (Sona) that offered any hope the government understood how dire the financial situation is for South Africans. CEO of Debt Rescue, one of the largest debt management companies in South Africa, Neil Roets, said: “A clear indication of just how… Continued

Zuma referred several times to responsibilities falling to Finance Minister Pravin Gordhan following Sona. Political parties and experts in the finance sector agree that President Jacob Zuma’s State of the Nation Address (Sona) on Thursday fell short of bringing South Africans any solace about the country’s ailing economy. In his speech, Zuma referred several times… Continued

Reserve Bank expects inflation to average 6.8% in 2016 and 7% in 2017. Hanna Ziady and Alex Mitchley The South African Re­serve Bank’s decision to hike the benchmark repurchase (repo) rate by 50 basis points – off the back of a worsening inflation outlook – means that as of today it stands at 6.75%, or… Continued

Food prices remain significant risk to inflation outlook. South African Reserve Bank Governor Lesetja Kganyago on Thursday announced a 50 basis point hike in the repo rate – lifting it to 6.75% – off the back of mounting concerns over runaway inflation. “The rand has depreciated considerably in response to domestic and external developments, while… Continued

Reserve Bank expects inflation to average 6.8% in 2016 and 7% in 2017. The South African Reserve Bank’s decision to hike the benchmark repurchase (repo) rate by 50 basis points – off the back of a worsening inflation outlook – means that as of Friday it stands at 6.75%, or 1% above where it was… Continued

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