Fewer South Africans are taking loans from banks‚ microlenders and family‚ despite increasing financial pressures.This is according to the latest Old Mutual Savings and Investment Monitor — conducted yearly with 1‚000 people who bank with various institutions around the country.It also revealed that South Africans are starting to manage debt better‚ signifying a slight mind-set shift towards borrowing money.The research‚ conducted in face-to-face interviews with clients in major metros during April and May‚ revealed that personal loans from financial institutions have dropped from 21% in 2016 to 14% this year.Microlending loan arrangements are also slightly down from 8% to 6%‚ while borrowing or taking loans from friends and family dipped from 15% to 13% — between 2016 and 2017.Lynette Nicholson‚ research manager at Old Mutual‚ said: "There is a very likely link between this small shift in mind-set and the encouraging decrease in income-to-debt ratio recently reported by the Reserve...
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