The latest Nedbank analysis of vehicle sales in South Africa showed that during the Transet labour strike in October, where thousands of workers downed tools at the national and logistics company, local car sales fell partially.
Economists from Nedbank say that south African households are increasingly turning to credit lines to help cope with the growing cost of living crisis in the country.
"Retail sales continued to rebound from the riots-induced plunge in volumes in July 2021, but the underlying momentum remained lacklustre in August," says Nedbank.
With South African motorists looking ahead to another possible petrol price hike in November, there's growing desperation to save as much as one can when filling up.
InSites Consulting South Africa has published the results of its eleventh annual SITEisfaction survey, highlighting the best digital bank as rated by customers.
South Africa's economy remains under pressure, say economists from finance group Nedbank, and consumers will likely continue to feel the pinch for what remains in the year.
Why a good credit score is so important, and how you can achieve it.
Despite food inflation coming in higher in August 2022, economists say that prices should ease as we head to the end of the year. Meanwhile, global oil prices are easing, which will have a positive impact on fuel costs.
The South African rand has come under immense pressure on Monday (19 September) as the country feels the pressure of stage 6 load shedding, and markets look ahead to interest rate hikes from major central banks.
As South Africa’s banking sector faces increasing competition from new digital entrants, a fierce battle still rages on among the ‘legacy’ institutions.
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