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Consumers still dancing with the debt devil in SA

Consumers still dancing with the debt devil in SA

14/10/2019 - 09:37
Up to our ears in debt, it seems South African consumer appetite for credit has not diminished. Despite a flat economy, consumers owe a total of R1.9 trillion - more than R260 billion of which is unsecured credit for credit cards, retail accounts, personal and payday loans, while around R959 billion is owed for mortgages. read more
Pick n Pay debt jumps after accounting changes

Pick n Pay debt jumps after accounting changes

26/09/2019 - 09:44
Retailer Pick n Pay said its total debt had increased to R17bn from R1.6bn for the 53 weeks ended March 3, as a result of accounting changes. read more
Shoprite's debt shocker

Shoprite's debt shocker

22/08/2019 - 08:57
Debt-leery investors, spooked by one local corporate car crash after another, have found another share to dump: mighty Shoprite. read more
SA consumers in tight corner as high prices, fuel hikes take their toll

SA consumers in tight corner as high prices, fuel hikes take their toll

15/10/2018 - 09:47
With more than 40% of South African consumers being technically over-indebted, the reality is that most of them are no longer able to make any further adjustments to their budgets, Neil Roets, CEO of Debt Rescue, told Fin24. read more
Moody’s cautions SA against debt trap

Moody’s cautions SA against debt trap

04/07/2018 - 08:00
Credit ratings agency Moody’s Investors Service has cautioned that if the rand continues to weaken, SA may struggle to raise funds and service its foreign debt, although its vulnerability to tightening global financing conditions remains low. read more
Pressure on consumers has intensified, index shows

Pressure on consumers has intensified, index shows

05/09/2016 - 14:48
CONSUMERS felt more financially vulnerable in the second quarter of 2016 than they did in the first as high debt levels, rising food prices, inflation, and higher interest rates took their toll, an index showed on Monday. read more
Here is why Government’s debt forgiveness plan is a bad idea

Here is why Government’s debt forgiveness plan is a bad idea

22/03/2016 - 09:26
Rather than helping consumers, the debt forgiveness programme being mooted by government will plunge consumers deeper into debt in the long term, according to a leading economist. read more
EXCLUSIVE: Lewis taken to high court over fees

EXCLUSIVE: Lewis taken to high court over fees

25/02/2016 - 10:03
Cape Town - Consumer watchdog Summit Financial Partners is taking Lewis Group [JSE:LEW] to the Cape High Court for what it alleges to be unfair practices. read more
Naive consumers falling for marketing promises

Naive consumers falling for marketing promises

08/12/2015 - 10:21
Cape Town - In South Africa much more needs to be done - even at school and tertiary level - to make consumers more money savvy in order to protect them from "the hordes of vultures out there" trying to part them from their hard-earned money, according to Anneline van der Poel of debt management firm Debt Rescue. read more
Edcon aims to boost sales

Edcon aims to boost sales

20/11/2015 - 11:56
Johannesburg - Edcon, South Africa’s biggest retail and clothing retailer, was rolling out a revised strategy in an effort to boost sales, it said yesterday as it released its second-quarter results.  read more
South Africans are the most desperate for money in the world

South Africans are the most desperate for money in the world

02/06/2015 - 09:03
South Africans are the hardest up for cash, ranking as the top country for loans taken out in the past year. read more
Convenient online shopping poses a serious debt risk

Convenient online shopping poses a serious debt risk

24/06/2014 - 10:12
The online shopping market is on the rise in SA, but as an individual online shopper, it can come at a greater cost than anticipated. read more
 Household borrowing is growing too fast – Loos

Household borrowing is growing too fast – Loos

31/08/2012 - 08:59
Households are on a borrowing spree, according to John Loos, a strategist at FNB. He said interest rate policy should focus not only on inflation but should “also aim to contain household sector credit growth to lower single-digit growth rates”.  read more
Valentine's Day results in retail focus

Valentine's Day results in retail focus

13/02/2012 - 09:57
Valentine's Day on Tuesday will make sure that this week the focus is on the consumer, as online retailers are likely to say how well this year's sales were compared with last year, while the official data will show how much consumers spent last year with the retail sales due on Wednesday, while the following day the Bureau of Market Research will release its fourth quarter 2011 Consumer Financial Vulnerability Index. read more
Debt: SA needs to dig itself out of the chasm of debt

Debt: SA needs to dig itself out of the chasm of debt

05/12/2011 - 08:48
Mr X was awarded 12 loans from one bank over a nine-month period - without being able to cover the payments for the first loan he took out. read more
SA's GDP rises, but growth stunted

SA's GDP rises, but growth stunted

30/11/2011 - 10:14
Pretoria - South Africa’s economic growth came in less than expected at 1.4% in the third quarter of 2011 on a seasonally adjusted and annualised basis, compared with a 1.3% rise in the second quarter, data showed on Tuesday.  read more