Debt Rescue has warned South Africans to prepare for the worst after Moody’s downgraded the country’s credit rating to junk status. The company’s CEO Neil Roets says while ordinary people will not feel the impact of the downgrade directly, it will have a severe impact on the rand. “It will affect foreign investments that could dry… Continued
Verbruikers, beide hier en in die buurlande word gewaarsku om nie, tydens die inperking roekeloos te raak met die betaling van hul debietorders nie. Maatskappye wie se werkers nie tuis kan werk nie, is reeds in kennis gestel dat hulle miskien slegs ‘n persentasie of geen salaris mag kry nie. Die Suid- Afrikaanse Ekonoom, Neil… Continued
South Africans are urged to spend wisely and make sound financial decisions even with the uncertainty around the current global pandemic. Following the President of South Africa’s state of the nation address declaring a national state of disaster, people have been panic buying. Photos and videos have gone viral of South Africans panic buying at… Continued
Thousands cleared shop shelves after Cyril Ramaphosa declared a state of disaster. Consumers are urged to make responsible financial decisions during the Covid-19 global pandemic. Neil Roets from Debt Rescue stated that the economic impact of the pandemic will be devastating. South African are in survival mode and aren’t buying what they normally buy. Many… Continued
Do not overspend on panic-buying Debt Rescue CEO Neil Roets has warned consumers not to overspend on panic-buying items amid the outbreak of coronavirus in South Africa. President Cyril Ramaphosa announced a state of national disaster amid the growth in Covid-19 cases over the past two weeks. South Africa had 61 confirmed cases of coronavirus… Continued
People are buying loads of bulk household items South African consumers are panic buying loads of household items following Cyril Ramaphosa announcing that we are in the state of national disaster. Toilet paper, non-perishable food and, of course, hand sanitiser are especially in high demand. Retailers have indicated that some items are now in limited… Continued
South Africa’s middle class is drowning in debt and getting poorer and poorer “Things aren’t looking good for our country. The forecast for economic growth is still below 1% and consumers are literally borrowing more just to survive,” says Clement Manyathela South Africa’s middle class is increasingly funding their lifestyles by way of unsecured debt… Continued
Moody’s rating next month is widely expected to be a downgrade to junk. Consumers must avoid falling into a debt trap “like the plague” as the possible downgrade of South Africa’s credit rating by Moody’s next month could undermine the December petrol decrease and the recent Reserve Bank repo rate reduction, experts said. Efficient Group’s… Continued
Economist Neil Roets says that despite the decrease in fuel prices, consumers should keep saving for a potential price hike in the New Year. The slight relief in the price of fuel should not be seen as an opportunity for people to go more spend money. Find out more on this radio clip.
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… Continued
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