Credit granted to SA consumers increase by 4%

VAAL TRIANGLE - The National Credit Regulator reports a surge in South Africans relying on credit, with the total credit granted increasing by four-percent. According to the Consumer Credit Market Report, credit of up to R148.15-billion was granted between October and December last year. Credit agreements spiked by 23.39% quarter-on-quarter. NCR analyst Lethabo Mashiane highlights the challenge consumers face in meeting monthly instalments, signaling a concerning trend of escalating debt despite the overall health of the credit cycle.