Consumer are coughing up

de Klerk, Vic
March 2004
Finance Week;3/15/2004, p12
Consumers in South Africa are now more prepared to settle their debts than in the past. This becomes clear from the South Africa Reserve Bank's latest "Quarterly Bulletin," indicating that since 1998, debt levels in South Africa have fallen to nearly 62% of disposable income. The trend has also been confirmed by other commercial banks and credit agencies in the nation. African Bank Investments Ltd., which has massive exposure to the lower income sector and micro enterprises, says that its bad debt on loans in non-performing categories for 12 months is down to 9.5% in 2003.


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