A Capitec Bank branch in Braamfontein, Johannesburg. Picture: SUNDAY TIMES
And where there has been pronouncements, they have not been perceived, at least if judged against reactions in the market, as being helpful to the government’s stated aim of boosting the economy and attractingThese include the ideologically driven push towards National Health Insurance , with apparently no room for debate about how it will be funded or implemented. The government is happy to push on and dismiss critics as opponents of the concept of universal health care.
On the face of it, the intention to release the most vulnerable from overindebtedness is a noble one, but the government has not demonstrated why existing relief or restructuring methods are not sufficient. While overindebtedness is undesirable, debt itself is not an evil and can be a powerful tool for uplifting poorer households and communities. In fact, a lack of credit has often been cited as one of the major factors holding the economy back.Banks have already signalled that they will have to
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