Half of SA Over-Indebted: SAHRC

The SAHRC says that over half of South Africa's credit-active consumers are over-indebted

The South African Human Rights Commission (SAHRC) says that over half of South Africa's credit-active consumers are over-indebted.

SAHRC Western Cape provincial manager, Karam Singh, points out that, “Of 19 million credit-active consumers in South Africa, 50 percent had impaired credit records, three months plus in arrears.”

Singh says that the macro-economic system that South Africa has continues to favour historical wealth creation and that the country’s economic system perpetuates inequality and is characterised by weak regulatory oversight.

To read the article titled, “Half of SA is over-indebted: SAHRC,” click here
 

Source: 
IOL News

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