South Africa Financial Literacy and Consumer Debt

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.