debt

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Background

Local

Mango denies it owes ACSA million leading to flights being grounded

Mango Airlines has denied claims it owes millions to Airports Company South Africa (ACSA), which resulted in their flights being grounded. Analysts said the low-cost airline owes ACSA millions in airport fees. However, the airline says it has a technical problem which it’s trying to resolve and has apologised for flight interruptions. Mango, a subsidiary of South African Airways (SAA) has been grounded for a year and a half due […]

today28 April 2021

Local

Med student Taz Emeran heads to the Covid-19 frontline after SA helps settle her R470k student debt

Mumtaaz "Taz" Emeran, the Wits University medical student who received more than R471,000 in donations from South Africans to help her cover her debt, says she is honoured to be one of the medical doctors who will serve SA during the global Covid-19 pandemic. Last week, Emeran witnessed history when South Africans helped her clear her student debt in 24 hours after she posted a video on Instagram asking for […]

today14 December 2020

Local

Here’s how much money the average person in South Africa owes on their credit card

Credit reporting agency TransUnion has published its Consumer Credit Trends report for 2020, detailing how the country’s coronavirus lockdown has impacted the finances of the average South African citizen. With a fall in GDP and the associated rise in unemployment, consumers have had to prioritise their personal finances to cope with the dramatic effects of the pandemic, TransUnion said. “As the crisis progressed, the number of consumers seeking credit—observed by […]

today4 October 2020

Local

SA’s debt has topped R3-trillion, premier Alan Winde tells developers

SA has passed the R3-trillion debt mark, with national borrowing averaging about R2bn every weekday, Western Cape premier Alan Winde said on Wednesday. “We have a very difficult path ahead of us,” said Winde, a keynote speaker during a Western Cape property development webinar. The premier, who recently recovered from Covid-19, was outlining the economic challenge in the wake of multiple shocks over the past few years, including load-shedding, drought, […]

today20 August 2020

News

2020 expected to be another bad year for consumers, experts

With the festive season behind us and common mantra of ‘the new year, new me’ in full swing,  economists believe that for South Africa’s economy it won’t be that simple. With government battling to the keep economy afloat, and the World bank projecting an even lower growth than anticipated for the economy, there are whispers in the finance circles of a looming recession. The International Monetary Fund (IMF) foresees that […]

today2 January 2020

Local

Gigaba says no to nuclear

Finance Minister Malusi Gigaba says drastic steps are needed to help South Africa’s ailing economy – including freezing senior civil servants’ salaries and selling chunks of state-owned enterprises. In an exclusive interview with City Press on Friday, Gigaba unveiled the surprise moves, which include slamming brakes on the country’s estimated R1 trillion nuclear build programme, saying it is neither affordable nor currently necessary. “There was a time when it was […]

today29 October 2017

Local

Gigaba lashes SOEs, but another SAA soft landing

State-owned entities present a major fiscal risk to the economy, but two of them - SAA and the SA Post Office - will receive R8.5-billion in government funding, putting South Africa's carefully maintained expenditure ceiling at risk of a R3.9-billion breach. Finance Minister Malusi Gigaba announced in his medium-term Budget policy statement on Wednesday that SAA would receive a further R4.8-billion, in addition to the R5.2-billion it received earlier this […]

today26 October 2017

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