A study has shown that debt levels among SA consumers are rising again, after declining slightly during the months government closed shops for weeks on end in 2020 in a bid to stop the spread of Covid19. Moneyweb AdriaanKruger
Money used to make the world go ’round, but it seems credit took over this role after consumers spent all their own money. However, one can run out of credit too. A study has shown that debt levels among SA consumers are rising again, after declining slightly during the months government closed shops for weeks on end in 2020 in a bid to stop the spread of Covid-19.
There are 7 837 credit providers registered with the National Credit Regulator , ranging from banking institutions to non-banking lenders such as micro finance institutions, vehicle financiers and retailers offering store credit. An analysis of the value of consumer credit shows that credit extension increased by 4% per annum between 2015 and 2020.
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