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
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

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.

Would you like to comment on this article or view other readers' comments?
Register (it’s quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.