Latest News & Developments
credit and debt
Government unveils R500 million fund to empower township spaza shops
This fund, a joint effort by government departments, provides financial support to spaza shops and convenience stores essential to local communities.
How to improve your credit score
Discover essential strategies to improve your credit score this New Year and unlock better financial opportunities.
Woman who claims unknown man forced her to take loans and robbed her, ordered to pay it back
The woman said she forced by an unknown man to take loans at various banks including R13,000 from African Bank.
South Africans are taking more credit to fund their lifestyles
The report found that new originations in credit cards, personal loans, and retail revolving lines have increased exponentially.
The FSCA's defiance: A legal standoff over Banxso's frozen funds
Despite the Western Cape High Court's lifting of a preservation order on Banxso's accounts, the FSCA steadfastly refuses to authorise the release of these funds.
Inside the shadowy world of loan sharks and South Africa's vulnerable
A new report has lifted the lid on how loan sharks are essentially holding Sassa beneficiaries hostage and there is nothing that can be done about it, legally.
‘But we are paying’ : Business owners angry after City Power cuts off power due to debt of over R30 million
A surprise power supply disconnection by City Power, aiming to recover R36. 2 million, has left 11 businesses and one residential complex in the dark, and sparked outrage from some business owners claiming that they have paid their electricity bills.
Water crisis deepens as municipal debt surges, threatening South Africa's water future
Minister of Water and Sanitation, Pemmy Majodina, presented a comprehensive R134 billion budget plan in July 2024 aimed at safeguarding South Africa’s water security.
Sanral welcomes e-toll payment by Gauteng provincial government
The provincial government will be paying R12 billion on the actual debt, R4 billion on the interest incurred, and R4 billion on maintenance, totalling R20 billion in debt.
Eskom’s planned tariff hikes set off heated debate in Parliament
The Democratic Alliance (DA) has addressed Parliament regarding Eskom's proposed 40% electricity tariff hike set to take effect next year.
EFF blames ANC for Emfuleni municipality’s failure to pay R8 billion Eskom debt, demands accountability
“The severe mismanagement in the Vaal is a direct result of the ANC's patronage and clientelism, with the Gauteng provincial government’s inability to implement effective interventions because it is their ANC comrades and friends who are responsible for the mess in Emfuleni,” Dunga said.
Diepsloot resident fumes over R100,000 water bill after neighbours illegal connections
Sixty-year-old alleged that his neighbour’s water supply was connected to his, because when he turned off his own supply, his neighbour’s water also stopped.
Correctional Services Minister Pieter Groenewald promises parole system review by year end
Pieter Groenewald, South Africa’s new Correctional Services Minister, has recently announced a comprehensive review of the country’s parole system.
New minister of Higher Education brings hope for change
Dr Nobuhle Nkabane, formerly the deputy minister of Mineral Resources and Energy, has been appointed as the new minister of Higher Education.
Credit appetite of SA consumers grows despite high interest rates: TransUnion
Originations, which are a measure of new accounts opened, saw the strongest quarter year-over-year growth in personal loans, up by 20%.
More than R2. 5 trillion in outstanding personal debt can be deployed to ‘kick-start’ local economy
According to the organisation which represents some of the debt counsellors operating in South Africa, around R70-R100 billion of this outstanding debt belonged to consumers who were in debt counselling, with an estimated R15 billion currently being paid back annually.
Time to think about debt-counselling sector as part of South Africa’s asset-management industry
Sector could potentially add R25 billion to the economy.
South Africans show restraint in credit card use, report shows
This is a key finding of the Discovery Bank/Visa SpendTrend24 report, released last month, which analysed credit card data from 14 cities around the world.
Balancing Debt-To-Income ratio is crucial
In today's economic landscape, understanding or trying at best to balance one's Debt-To-Income (DTI) Ratio is crucial.
Key things to consider before committing to credit
Different types of credit are available to alleviate the financial pressures. Picture: Independent Newspapers.
Addressing employee indebtedness crisis shows productivity and financial wellness
In South Africa, the prevalence of over-indebtedness has reached alarming levels.
Customers are urged to shop smart this Easter
As the Easter holiday approaches, we encourages consumers to prioritise financial responsibility and avoid falling into debt traps.
Middle class and high income consumers are struggling to pay off their debts
The Experian Consumer Default Index has revealed that middle-class and rich consumers are having a hard time paying off their debts.
Load-shedding stifles communication between debt counsellors and clients: NDCA
Load shedding is negatively impacting the operations of the debt counselling industry.
Words on Wealth: Don’t let debt follow you into retirement
Many more South Africans are applying for debt counselling, which may be a bad thing or a good thing, depending on how you look at it.