According to Neil Roets, CEO of Debt Rescue, the greylist period has significantly increased the cost of living of borrowing costs for consumers and this will take time before the benefits of the latest developments reach households.
Although the country’s improved standing may boost investor confidence and strengthen the financial sector over the long term, ordinary South Africans are still facing high debt levels and elevated living expenses. He emphasises that meaningful relief will only come once economic improvements translate into lower credit costs and more stability for consumers.