Low-income consumers need more and easier access to credit because it adds a significant amount of money to South Africa’s gross domestic product . A recent composite households resilience index for the second quarter of the year also confirms that the average household tended to find it easier to incur and manage debt than before the pandemic.
Although most people would wonder about improving access to credit for low-income consumers, especially since microfinance has such a bad reputation in South Africa, microlending is held in high esteem in most parts of the developing world. However, South African reports about household debt are often characterised by a lack of objectivity, particularly regarding the short-term lending industry, with increases in default values or default ratios regularly featuring prominently in the media. When they decline, hardly anybody reports on it.
“This raises question marks over the recent decision by the SA Reserve Bank to raise short-term interest rates at a time when insufficient progress has been made with a recovery of job losses.” Only six of the 20 indicators recorded declines between the first and second quarters, a clear indication of further progress with households’ financial disposition recovering.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kerr brought in to revive low-flying BirdsSwallows quickly fill the head coach vacancy after the firing of Brandon Truter
Source: BDliveSA - 🏆 12. / 63 Read more »
Asian shares recover from one-year low, but Omicron keeps traders on edgeEquities rise as US share futures and oil recovers from the previous day’s sell-off, but uncertainty over new coronavirus weighs on sentiment
Source: BDliveSA - 🏆 12. / 63 Read more »
More than a third of South Africans 'living beyond their means' as common goods prices riseMore than a third of South Africans are living beyond their means and turning to credit to stretch their income as prices for common goods continue to rise, a latest survey found. I never thought of meeting a legit bitcoin trader after been scammed many times at my age but the heavens sent TreytonAdam who guided me and help me make a living through crypto with my LUNO app , I recommend you to him now and also be a successful benefactor Much appreciation goes to the best trader, I invested $800 for a start and got a return of $7,400 after one week. His diligence, strategies and trustworthiness can not be debated. trade_with_sean ɪ ᴛʜᴏᴜɢʜᴛ ɪᴛ ᴡᴀs ᴀʟʟ ғᴀᴋᴇ ʙᴜᴛ ᴛʜɪs ᴘʟᴀᴛғᴏʀᴍ ᴘʀᴏᴠᴇᴅ ᴍʏ ɪɴsᴛɪɴᴄᴛs ᴡʀᴏɴɢ, ɪs ʙᴀʀᴇʟʏ ᴀ ᴡᴇᴇᴋ ɪ sᴛᴀʀᴛᴇᴅ ʏᴇᴛ ɪ ʜᴀᴠᴇ ʀᴇᴄᴇɪᴠᴇᴅ ʙᴏᴜɴᴛɪғᴜʟ ᴘʀᴏғɪᴛ ɪ ᴍᴜsᴛ ᴄᴏɴғᴇss Sʜᴇ’s ᴛʜᴇ ʙᴇsᴛ Marietta8764
Source: TimesLIVE - 🏆 28. / 59 Read more »
More than a third of South Africans 'living beyond their means' as common goods prices riseMore than a third of South Africans are living beyond their means and turning to credit to stretch their income as prices for common goods continue to rise, a latest survey found. I never thought of meeting a legit bitcoin trader after been scammed many times at my age but the heavens sent TreytonAdam who guided me and help me make a living through crypto with my LUNO app , I recommend you to him now and also be a successful benefactor Much appreciation goes to the best trader, I invested $800 for a start and got a return of $7,400 after one week. His diligence, strategies and trustworthiness can not be debated. trade_with_sean
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Extension of short-term credit up and economy, jobs benefit: Altron indexThe extension of short-term credit, a key financial instrument for low-income households and micro-businesses, increased by 2.7% in the second quarter of 2021, according to the Altron Fintech Short-term Credit Impact Index.
Source: TimesLIVE - 🏆 28. / 59 Read more »