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Tag Archives | Debt

erasing-debt

Ombudsman sets out what consumers should know about prescription

The Ombudsman for Banking Services (OBS) has issued a communication that alerts consumers to their rights when it comes to debt that has prescribed. According to ombudsman Reana Steyn, most consumers are ignorant that creditors are prohibited from collecting prescribed debts that fall under the National Credit Act (NCA). The Prescription Act, read with section […]

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wallet-rands

Why do more South Africans feel better about their financial prospects?

According to a graph in this year’s Old Mutual Savings & Investment Monitor (OMSIM), 72% of respondents expect their financial prospects to improve over the next six months, whereas only 5% believe they will get worse. Old Mutual commented: “These results speak to the resilience of South Africans with a pervading optimism that things will […]

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Godongwana-Budget-2022

Political messaging, juggling spending demands, and the outlook for SA bonds

Jeff Schultz, senior economist at BNP Paribas South Africa, provides the following perspective on the Budget. He discusses: What the ANC hopes the Budget will achieve politically. The outlook for government revenue and spending. Why BNP Paribas remains positive on government bonds. Emulating the prudent approach to future revenue gains displayed in November’s Medium Term […]

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These six themes ‘will be top of mind’ for active managers in 2022

These six themes ‘will be top of mind’ for active managers in 2022

The response to climate change, inflation, post-pandemic growth and China’s market interventions are among investment managers’ top concerns this year, according to Sanlam Investments. Sanlam Investments’ portfolio managers believe active managers will focus on the following six themes as they position client portfolios for maximum returns: Theme 1: Post-pandemic growth “There is a growing body […]

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covids

Debt levels and Covid-19 – Is the worst yet to come?

DebtBusters’ latest debt index for Q2 2020 reveals that South African consumers’ debt levels continued to deteriorate over the lockdown, with higher-income earners having unsustainable debt-to-income ratios. Benay Sager, DebtBusters’ chief operating officer, says that net incomes have declined in real terms and consumers are supplementing this by borrowing heavily, especially using unsecured loans. Ask […]

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