07 October 2020 1 Min Read
WATCH: Why credit applications are being rejected
The National Credit Regulator’s Bongani Gwexe talks to Business Day TV about the country’s financial wellbeing
in Economy by Business Day TV
Consumers have been finding themselves under pressure for some time as their salary increases have not been keeping up with the cost of living. Picture: 123RF/DEAN DROBOT
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The rejection rate for credit applications hit a record high during lockdown, according to data from the National Credit Regulator.
Business Day TV spoke to Bongani Gwexe, supervisor for statistics and research at the National Credit Regulator, for his take on what this suggests about the financial wellness of SA’s consumer base.
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