Rand money
JOHANNESBURG – South African households remain under pressure mainly due to higher interest rates.
That’s according to the results of the most recent Altron FinTech Household Resilience Index.
The higher interest rates have forced households to sacrifice 10 percent of their disposable incomes to pay debt costs.
WATCH: SARB’S DECISION NOT TO INCREASE REPO RATE OFFER RELIEF
That’s a 34 percent increase from 2021.
Dr Roelof Botha says the higher SARB repo rate has pushed up the cost of credit and working capital, which negatively impacts the financial disposition of households and businesses across the country.
He says the economy cannot grow at sustained high levels unless there is growth in household credit extension.
News Related-
Antoine Dupont still hurt by 'injustice' of World Cup loss to Springboks
-
China's New Aircraft Carrier Begins Catapult Testing
-
Aircraft Downed Inside Russia By Patriot System: Ukrainian Air Force
-
“Am I Prog’s Taylor Swift? That’s a debate that could run and run”: why Peter Hammill re-recorded his Enigma-era albums
-
Car With Pro-Russian Fighters Blown Up by Resistance: Exiled Mayor
-
Europe and African nations must find effective common ground in dealing with migration influx
-
Springbok lock opts not to renew contract with URC team
-
Pravin Gordhan’s deathly legacy: A threat to SA’s economic future
-
Antoine Dupont STILL hurt by ‘injustice’ of Rugby World Cup loss to Springboks
-
Rubber stamping NHI Bill will have damaging consequences for SA for generations
-
Inside horrific conditions Hamas hostages suffered including losing 15lbs in 50 days
-
After the Bell: SA’s NHI healthcare disaster starts right here
-
Gupta-linked development land for sale
-
Gary Neville begrudgingly claims brilliant Man Utd midfielder ‘looked like a Man City player’ in Everton mauling
OTHER NEWS
A senior Volkswagen executive involved in a global cost-cutting strategy said on Friday, 24 November, he was “very worried” about the future of the company’s operations in South Africa, which ... Read more »
Photograph: Toby Melville/Reuters Liz Truss, the shortest-serving prime minister in British history, who was famously shown to have a shorter shelf life than a lettuce, has effectively backed Donald Trump ... Read more »
Standard Bank treasonous? We're literally helping to keep the lights on says CEO Bruce Whitfield speaks to Lungisa Fuzile, Standard Bank SA CEO. Standard Bank is one of 28 banks ... Read more »
Israel, Hamas agree to extend truce for two days; Musk ‘would like to help rebuild Gaza’ The UN said many people in Gaza still had no food or cooking fuel ... Read more »
Mamelodi Sundowns’ former coach, Pitso Mosimane, dismissed the African Football League Jingles shared his opinion and compared it to the CAF league and said that it was a mere tournament ... Read more »
Take note of these N3 road works between Westville and Paradise Valley The N3 between the Westville viaduct and Paradise Valley interchange will be partially closed to traffic for the ... Read more »
UKZN medical student bags 2023 Health Excellence Rising Star Award Durban — One of the country’s most progressive young minds in the medical field, fifth-year University of KwaZulu-Natal (UKZN) medical ... Read more »