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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

financial stress

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Business / Economics

In S.A, Financial Stability Review Highlights Growing Strain on Households

S.A's Reserve Bank's latest Financial Stability Review reveals growing financial stress among households and small-to-medium enterprises. High interest rates, ageing global conflicts, infrastructure failures, and South Africa's graylist status contribute to the strain. Reserve Bank’s head of financial stability department Nicola Brink, says non-performing loans surged from 257-billion-rand in March 2023 to 304-billion-rand in July 2024:  

todayDecember 2, 2024 15

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South Africa

Deputy President Says Government Is Collaborating with Development Bank to Aid Indebted Municipalities

  S.A's Deputy president Paul Mashatile says the government is working with the Development Bank of Southern Africa to secure resources to assist municipalities that are in debt. Municipalities owe creditors 116.5-billion-rand, with 75.3-percent of this debt more than 90 days overdue. In turn municipalities in 2023/2024 were owed 339.9-billion-rand. Answering questions in the National Assembly yesterday, Mashatile said it is concerning that many municipalities are in financial stress:  

todayNovember 1, 2024 29

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