Simple credit bomb set to explode ears of some other Marikana area as over-extended Southern Africans
Worries of titlemax some other Marikana surface as over-extended Southern Africans face R1.45-trillion hill of financial obligation
South Africans residing for a long time beyond their means on financial obligation now owe R1.45-trillion by means of mortgages, automobile finance, bank cards, shop cards, individual and short-term loans.
Quick unsecured loans, applied for by individuals who do not usually be eligible for credit and which needs to be paid back at hefty rates of interest all the way to 45%, expanded sharply during the last 5 years.