Nearly half of South African(SA) adults are reportedly borrowing money to afford groceries. This is according to FinMark Trust's latest study, the FinScope Consumer South Africa report. The survey results found 40% of consumers are using credit for household necessities, while two out of five individuals have gone without electricity in the past 12 months, due to a lack of affordability.

For more on the statistics, Thami Ngubeni spoke to Lesego Mashigo, head of Financial Inclusion, South Africa at FinMark Trust.

Nearly half of South African(SA) adults are reportedly borrowing money to afford groceries. This is according to FinMark Trust's latest study, the FinScope Consumer South Africa report. The survey results found 40% of consumers are using credit for household necessities, while two out of five individuals have gone without electricity in the past 12 months, due to a lack of affordability.
For more on the statistics, Thami Ngubeni spoke to Lesego Mashigo, head of Financial Inclusion, South Africa at FinMark Trust.

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.

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Africa in Business

Nearly half of SA adults borrowing money to afford groceries: Survey

 As China revises its Africa strategy, Beijing's lending to the continent nearly halved to $2.1 billion in 2024, marking the first annual decline since the COVID-19 pandemic.

The figure is less than a tenth of the $28.8 billion peak recorded in 2016 and underscores a shift away from large-scale infrastructure projects,  such as railways and roads but toward smaller and more commercially viable investments.

 Analysts say the change reflects lessons from losses on earlier loans, particularly after pandemic-related economic pressures pushed countries including Zambia, Ghana, and Ethiopia into debt default.

Thami Ngubeni spoke to Bernard Ouandji, former senior economist for the United Nations based in Cameroon.

&nbsp;As China revises its Africa strategy, Beijing's lending to the continent nearly halved to $2.1 billion in 2024, marking the first annual decline since the COVID-19 pandemic.
The figure is less than a tenth of the $28.8 billion peak recorded in 2016 and underscores a shift away from large-scale infrastructure projects, &nbsp;such as railways and roads but toward smaller and more commercially viable investments.
&nbsp;Analysts say the change reflects lessons from losses on earlier loans, particularly after pandemic-related economic pressures pushed countries including Zambia, Ghana, and Ethiopia into debt default.
Thami Ngubeni spoke to Bernard Ouandji, former senior economist for the United Nations based in Cameroon.

China reduces loans to Africa as it shift it's African investment strategy 

Gerhard Papenfus, CEO of the National Employers' Association of South Africa, warns that the current Black Economic Empowerment (BEE) policy, is gradually draining the country's resources. He argues that rather than fostering broad-based wealth creation or economic growth, it primarily enriches a small elite while causing significant value destruction.

According to Papenfus, the BEE policy framework has fallen short in promoting entrepreneurship and upskilling large segments of the population, limiting its impact on the overall economy.

Thami Ngubeni spoke to the CEO of the National Employers' Association of South Africa, Gerhard Papenfus.

Gerhard Papenfus, CEO of the National Employers' Association of South Africa, warns that the current Black Economic Empowerment (BEE) policy, is gradually draining the country's resources. He argues that rather than fostering broad-based wealth creation or economic growth, it primarily enriches a small elite while causing significant value destruction.
According to Papenfus, the BEE policy framework has fallen short in promoting entrepreneurship and upskilling large segments of the population, limiting its impact on the overall economy.
Thami Ngubeni spoke to the CEO of the National Employers' Association of South Africa, Gerhard Papenfus.

 National Employers' Association of South Africa says BEE policy is bankrupting the country

Afrobarometer's study, From Aspiration to Action: Barriers to Youth Empowerment in Africa, finds that young people aged 18 to 25 face the most severe employment challenges on the continent.

About 45% of those surveyed, report being unemployed and actively seeking work. Inadequate training and a lack of required experience emerge as the leading barriers to youth employment. Respondents say governments should prioritise job creation, followed by improving education and expanding access to business loans. 

Thami Ngubeni spoke to one of the authors of the report, Komi Amewunou, an editor at Afrobarometer.

Afrobarometer's study, From Aspiration to Action: Barriers to Youth Empowerment in Africa, finds that young people aged 18 to 25 face the most severe employment challenges on the continent.
About 45% of those surveyed, report being unemployed and actively seeking work. Inadequate training and a lack of required experience emerge as the leading barriers to youth employment. Respondents say governments should prioritise job creation, followed by improving education and expanding access to business loans.&nbsp;
Thami Ngubeni spoke to one of the authors of the report, Komi Amewunou, an editor at Afrobarometer.

Nearly half of SA adults borrowing money to afford groceries: Survey

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