Neil Roets, CEO of Debt Rescue, expresses concern that Donald Trump’s return to the US presidency could spell trouble for South Africans. His “America First” policies might tighten trade rules, threatening the benefits South Africa enjoys under the African Growth and Opportunity Act (Agoa).
South Africans Are Already Under Pressure
Many South Africans are already struggling with rising costs and high levels of debt. Roets points to data from the latest NCR Credit Bureau Monitor Report, which indicates that by June 2024, 21.74% of the 28.15 million credit-active consumers in South Africa were more than three months behind on their repayments. Additionally, 12% had adverse listings, meaning they had effectively reached the limit of their credit capacity.
The Future of Agoa Is Crucial
Roets stresses that protecting jobs and livelihoods must be a top priority as South Africa faces growing economic pressure. With Agoa’s future uncertain, the stakes are incredibly high for South African families trying to make ends meet.
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