Tag: cost of living

The possibility that the Government’s insurer South African Special Risk Insurance Association (SASRIA) may not be able to meet its solvency capital requirements caused by the large claims arising from the riots, looting and destruction of last July is becoming a reality.

Russia’s invasion of Ukraine has opened fault lines between nations which will affect trade relations and investment for years to come. The war in Ukraine is already having a significant effect on inflation and activity in the world economy as commodity prices have soared and supply chains have been disrupted.

We take out insurance for the unpredictable things in life – a burst geyser, a cracked windscreen or stolen household items. But what about the inevitable? A lot of people avoid talking about death – which is somewhat strange as this is something we cannot escape.

The 1400+ participants of our South African Consumers’ Financial Reality June 2022 survey results provide various insights concerning their current financial situation. Consumers are experiencing dire financial times, and thus, #SavingsMonth is no celebration this year.

Businesses should prepare for a rise in civil unrest incidents as the cost of living crisis follows hard on the heels of the COVID-19 pandemic. What can we learn from the protests we saw during the height of the pandemic and what role could social media play in intensifying future disruption?  

The rising cost of living continues to tighten its grip on the economy, giving scammers, fraudsters and hustlers the green light to prey on those desperate enough (and potentially unaware of the dangers) to choose an easy way out of the financial hole they have fallen into.

The National Budget Speech is here, and South Africans are ready to face the reality of increased costs across the board. Rising fuel prices, growing inflation, increased interest rates and the inevitable surge in food prices all seek to cripple household finances.