87% of SA consumers feel overwhelmed, stressed and anxious about finances, says Debt Rescue CEO Neil Roets.
As the nation prepares for this year’s State of the Nation Address (Sona), the president will highlight achievements, flag challenges and outline interventions for the coming financial year.
President Cyril Ramaphosa’s new year message is one of reflection, resolve and hope — perhaps the most significant being resolve, because without government determination to turn things around for the people, hope fades fast and reflection is pointless.
“When the president addresses 65-million South Africans next Thursday February 12, the nation will be listening with the hope that he has heard the voices of the ordinary [people],” says Debt Rescue CEO Neil Roets. “And that he will be announcing firm plans to take concrete action in their best interest, in the context of the difficulties they are facing financially and the debilitating cost-of-living crisis.”
The state of the consumer should be government’s priority right now, he says, as these are the hardworking taxpayers who currently carry the economy on their backs. Roets points out what he believes are the key concerns for South Africans and what he hopes Ramaphosa will address.
Cost-of-living Relief
There is a need for immediate, tangible relief measures from the impact of inflation on everyday prices of essential goods and services, such as food, electricity, fuel and water. Escalating prices have forced many households to spend a large share of their incomes on basics, with low-income families especially struggling to afford necessities like food, utilities and transport.
Water & Sanitation
Failing water infrastructure and management impacts municipalities and the nation’s water supply. The latest crisis to hit Knysna on the Garden Route, where water supply is now at critical levels, highlights just how serious the issue is.
With the main Akkerkloof Dam now registering below 20% capacity, leaving roughly 10-15 days of water supply, a local disaster has been declared, with Level 4 restrictions prohibiting all outdoor water use, as infrastructure failures, vandalism, and low rainfall threaten ‘Day Zero’.
The Debt Burden
The latest data from the National Credit Regulator (NCR) shows that SA consumers held about R2.43-trillion in outstanding credit as of Q1 2025, with mortgages, credit facilities and unsecured loans contributing substantially to household liabilities.
A recent Debt Rescue survey found that 87% of consumers polled currently feel worried, extremely stressed and anxious, or completely overwhelmed by their financial situation going into 2026.
“2025 was one of toughest years yet for South Africans from all walks of life, and the escalating cost of living has locked millions of citizens into a debt cycle they have no escape from,” says Roets.
Job Creation & Economic Growth
With 2025 economic growth doing little to alleviate the unemployment rate, Sona 2026 should focus on practical policies to reach higher, sustainable growth. With SA’s youth unemployment among the highest in the world (58.5%), specific, actionable strategies for youth job creation, rather than just promising general growth, are crucial.
Actionable Measurable Plans
The president needs to announce that government is moving from promises to delivery, and hope is high that this transition will take place, particularly with local government elections on the horizon.
There is no doubt that South Africans are in deep trouble. What the nation needs is a plan to dig them out. All eyes are on Ramaphosa to announce the way out at the Sona this year.