
Surge in unregulated buy-now-pay-later raises affordability concerns
Credit expansion is coming almost entirely from the deeper use of cards and personal loans by current credit-active consumers, rather than fresh market entrants, says RCS.
Credit expansion is coming almost entirely from the deeper use of cards and personal loans by current credit-active consumers, rather than fresh market entrants, says RCS.
DebtBusters’ Q4 2024 Debt Index reveals a worsening cash flow crunch, with rising reliance on short-term loans and record-high debt service ratios.
With credit card originations growing by 9.3% and Gen Z leading the charge, 38% of new credit cards were issued to first-time cardholders – the highest proportion since early 2020.
Even as inflation eases, high interest rates continue to erode incomes, forcing many South Africans to rely on loans to get by.
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