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  • Finweek - English

    Tackling debt

    Aug 21, 2020 3 minutes
    By Timothy Rangongo

    before Covid-19, the South African consumer credit market was already struggling with challenging economic conditions. The total value of credit granted to consumers was up 1.66% to R145.38bn for the quarter ended December 2019, according to the National Credit Regulator’s quarterly consumer credit market report.

    Credit bureau Trans Union said the demand for credit continued well into the first quarter of 2020 and began to accelerate as both consumers and lenders started to experience the impacts ofCovid-19 (towards the end of the first quarter). Figures from the bureau’s first-quarter consumer insights report showed flat or negative

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