SA households were financially healthier at year end, but the picture is still bleak - report
Research from fintech group Altron has shown that the overall ability of SA's households to take on and service debt improved a little in the fourth quarter of 2023, helped by investment market gains and overall improvement in employment. However, SA households remain under severe strain amid elevated borrowing costs, and many are still worse off in overall terms than before Covid-19.
The Altron Fintech Household Financial Resilience Index , compiled by economist Roelof Botha, picked up 2% on a quarterly basis in the three months to end-December and 1.4% year-on-year, helped most by a 9.7% annual jump in annuities received. While there are a number of reasons to celebrate, there are some concerning trends as well, the report read.
The Afhri, developed by Altron Fintech, uses 20 indicators, all of which are directly or indirectly related to sources of income or asset values. The almost-60-year-old group provides the technology platform used by micro-lenders and wants to keep its clients abreast of market dynamics.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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