This blog looks at the issues affecting debt issues for South African consumers and explores the link between consumer debt, financial intelligence and inclusion. It is a startling fact that 30% of South Africans do not own a bank account. It is a troubling fact that 69% of South Africans do not have an emergency fund or “rainy day” money, while 40% have no retirement plan. This blog will go over how this can be tackled, the problem of inflation burdens and why South Africa became more of an indebted country.
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