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Although the debt relief bill aims to throw a lifeline to indebted consumers, it could see 'mashonisas' or loan sharks - who typically charge between 30-50% interest on loans - thrive in the lending environment.
President Cyril Ramaphosa has signed into law the controversial National Credit Amendment Bill, which is geared to provide relief to over-indebted consumers
Mozambique has started legal action against a French-Lebanese billionaire, Iskandar Safa, whose shipbuilding company is at the heart of a $2 billion debt scandal, officials said Friday.
Finance Minister Tito Mboweni on Tuesday unveiled a second multi-billion rand bailout for the power utility within five months, aid that may force the cash-strapped government to increase borrowing and taxes.
Eskom has begun a search for a new Group CEO to replace Phakamani Hadebe, who quit his job in May.
The SA Human Rights Commission welcomes the judgment handed in a case between the National Credit Regulator and Standard Bank.
Eskom says the municipal debt crisis has only worsened, despite a number of interventions.
The financial position of the SABC has been worsening over the last nine months and the public broadcaster is at the mercy of creditors
China operates a nationwide blacklist that contains the names and personal information of people who are in debt, also known as "laolai".
SA households saw a total of R449.8bn of wealth wiped out between in 2018, according to the latest Momentum Unisa Household Wealth Report.
The new debt relief bill could have dire unintended consequences, warned chief economist at the Efficient Group Dawie Roodt.
Moody's announced that the rating of Mangaung Metropolitan Municipality, in the Free State, has been downgraded three notches from Ba3 to B3.
Many people are drowning in debt and don’t see a way out but there’s hope.
The only way to lower current global debt levels is by decreasing government spending or increasing taxes. That won’t be happening anytime soon, which means the debt spiral continues.
Most people make the mistake of thinking that simply because they qualify for credit, they should take it.
She decided to focus solemnly on her debt and achieve her dream.
Questions about debt review and how it works are among the most frequently asked financially related questions South Africans search on Google.
Tesla is doing everything it can to stop bleeding, but right now Wall Street couldn't care less.
Good debt, bad debt, no debt? Very few South Africans can live debt-free, and utilising debt facilities like home and car loans are not necessarily poor financial decisions. However, there’s a reason it’s called a debt spiral. And millions of South Africans are struggling to stay out of that spiral.
Times are tough for SA consumers and they are looking for ways to make their money go further, according to Susan Steward from Budget Insurance.
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