Home Strategy Marketing There’s a lesson in debt hangover – The Citizen

There’s a lesson in debt hangover – The Citizen


It’s no surprise that four out of five South African households saw their income reduced by the Covid-19 lockdown which shut down large swathes of the economy. What is interesting is that, according to the TransUnion Financial Hardship Survey, one in five households felt no impact in what has been called the biggest financial crisis in this country since the Great Depression of the ’30s. However, for those who were struggling already to make ends meet, the lockdowns were an immense blow – and many households had to increase their levels of debt to cope, or were forced to default…



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