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.
By Liabo Setho Consumers are at heightened risk of falling even deeper into debt because of the latest electricity tariff hike by Eskom. As of the 1st of April, the National Energy Regulator of South Africa (Nersa) granted the power utility a 12% increase for Eskom direct users. Eskom had initially applied for a 32%
South Africa’s prominent debt management company, DebtBusters, reports a 41% spike in consumers seeking debt counseling. Economic challenges, including soaring living costs, have left many individuals grappling to meet financial obligations. The rise in payday loans indicates a growing trend as consumers seek additional income sources to supplement their salaries. Factors such as high-interest rates, inflation
Seventy-five percent of the average South African’s salary goes towards paying off debt. That’s because the high interest rates from last year, have taken a toll. This week the Reserve Bank Governor announced that the repo rate would remain the same. CEO of Debt Rescue, Neil Roets speaks to the eNCA about this. Follow the
COO, Annaline van der Poel, says most hope December bonuses will keep them out of financial trouble but, with the higher cost of living, and increased spending over the festive season, those funds soon disappear. This leaves most South Africans with no choice but to take out more credit.
