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South Africa: Debt Traps, the Silent Killers of the Vulnerable
Daily Maverick, 7 August 2012
Banks are under pressure, and with the housing market pretty much dead, they're looking at new consumer markets for some of their highest-interest credit products. They're finding… Read more »
Why the High Debt Among South Africans?
With sharp increases in petrol, energy and food costs, consumers are taking to unsecured loans that often results in a debt spiral over the high costs of repayments.
Two out of three consumers believe they have no alternative but to get into debt.
InFocus
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Unemployment and the Euro crisis are the biggest threats to the South African economy in 2012, says International Monetary Fund managing director Christine Lagarde. Read more »
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President Jacob Zuma announced at the opening of Parliament the establishment of a jobs fund of R9 billion over the next three years to finance new job-creation initiatives. Read more »
