Debt Rescue’s latest national survey reveals a stark reality for South African households under intense pressure from rising electricity costs. According to the findings, 79% of consumers now rely on prepaid electricity and only load what they can afford — often leaving homes without power before month-end. Even more troubling, 86% of respondents said they’ve […]
In a recent interview with SABC News, Anneline van der Poel, COO at Debt Rescue, painted a sobering picture of South Africa’s deepening financial distress. Drawing from the latest Debt Rescue survey, she revealed how ordinary consumers are already cutting back on food and transport to keep the lights on — and this was before […]
In Brief: Bleak Easter for South Africans Despite a modest petrol price cut, 58c for 93 unleaded and 72c for 95, South Africans faced an especially costly Easter, with the small relief swallowed by surging electricity tariffs and stagnant wages. Neil Roets, CEO of Debt Rescue, warned that these minimal fuel decreases offer “no real […]
The South African Reserve Bank’s decision to keep the repo rate at 7.5% has disappointed many consumers, particularly those struggling with home loan and car repayments. Annaline van der Poel from Debt Rescue explained on eNCA how this decision, along with rising VAT, electricity costs, and inflation, is placing even greater financial strain on already […]
During an SABC News interview, Annaline van der Poel, COO of Debt Rescue, cautioned that more South African consumers are relying on credit just to get by, with many exhausting their salaries within days of being paid. She explains that while retail sales figures show an unexpected rise, this is largely driven by borrowing rather […]
In Brief: SARB Rate Decision Deepens Consumer Debt Crisis Neil Roets, CEO of Debt Rescue, says the South African Reserve Bank’s decision to maintain interest rates unchanged, combined with upcoming VAT increases, unchanged personal income tax brackets, and a substantial rise in electricity tariffs, is placing immense financial pressure on South African consumers. Roets warns […]
In Brief: Repo Rate decision pushing consumers deeper into debt. Neil Roets, CEO of Debt Rescue, says the South African government’s recent decisions, including keeping the repo rate unchanged, increasing VAT, and failing to adjust personal income tax brackets for inflation, are placing immense financial strain on consumers. The additional 12.7% electricity tariff hike will […]
Finance Minister Enoch Godongwana’s announcement of a VAT increase to 16% over the next two years has raised serious concerns for South African households. In an exclusive interview on eNCA, Annaline van der Poel, COO of Debt Rescue, explains the real impact of this hike. She points out that while 0.5% may not sound like […]
Interest Rate Cut in Brief: Experts Split on the Best Path Forward Experts remain split on whether the South African Reserve Bank’s Monetary Policy Committee (MPC) will announce another interest rate cut this Thursday, with differing views on economic stability and inflation risks. Neil Roets, CEO of Debt Rescue, questions whether another rate cut would […]
Budget 2025 in Brief: What It Means for Consumers The revised budget increases VAT by 0.5% this year and another 0.5% next year, while personal income tax brackets and medical credits remain unchanged, effectively raising the tax burden on consumers. Despite no fuel levy increase, excise duties on alcohol and tobacco will rise above inflation, […]
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