Tag: Chris Coetzee
Households earning under R25,000 trapped in payday loan cycle
As South Africa enters a new year, many people still feel the financial aftershocks of the December holidays. Pressures from the final quarter of the previous year continue to linger. For countless families, festive cheer has faded quickly. In its place, a harsh reality has emerged.
Teaching teens about money – financial education should start early
South Africa's youth are navigating a complex financial landscape. They face high unemployment, limited financial literacy and the rise of digital credit options. As of the first quarter of 2025, the youth unemployment rate (ages 15 - 24) stands at a staggering 62.4%.
Overdraft facilities now impact credit reports
While some South Africans may have been notified by their banks, many consumers are not aware of the recent change in South Africa's credit reporting system, where banks are now required to report overdrafts if consumers are overdrawn by more than R500 for a period of 30 days.
