Cape Town - Despite the "hard place" SA consumers find themselves in, they need to improve both their knowledge and attitudes to saving, says Nashalin Portrag, marketing actuary at Momentum’s corporate and public segment.
Portrag says interventions need to be multi-fold. South Africa is one of the most indebted nations in the world.
According to the National Credit Regulator, SA has a total of 23.88 million credit-active consumers and 75% of income is used to repay debt. These numbers reflect the country's low savings levels.