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South Africans’ Financial Stress Remains High, New Survey Reveals

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Money Stress Tracker survey

South Africans have experienced high levels of financial stress over the past three years, impacting their home and work lives as well as their health. Younger individuals and those with lower incomes are the most anxious, with women particularly bearing the brunt of financial strain. In contrast, older individuals and those in higher income brackets experience less worry but have higher levels of unsustainable debt and are less inclined to seek help.

These insights emerge from DebtBusters’ third annual Money Stress Tracker survey. The data was compiled from responses by 26,000 individuals who are registered with DebtBusters but are not currently receiving debt counseling, making it one of the largest surveys on the impact of financial stress in South Africa.

Benay Sager, Executive Head of DebtBusters, noted a slight decrease in financial stress levels over the past year, from 78% in 2023 to 75% in 2024, though this is an increase from 70% in 2022. “While the data shows a marginal decline, the trend over the three-year period remains upward,” said Sager.

The survey was conducted in June. Contributing factors to the reduced stress included a period without loadshedding and stable interest rates. Concerns over interest rate hikes declined by 22%, and worries about loadshedding fell from 17% to 7% in the same period. “Consumers prefer certainty. Although interest rates are high, consistency is less stressful compared to continuous rate hikes,” Sager explained.

Among the 75% of respondents who reported financial stress, 93% noted it negatively affected their home life, 76% their work life, and 74% their health. Women reported being 10% more stressed about finances than men, with nearly four out of five women indicating financial stress. They also reported being 20% more stressed about their health and 30% more stressed about their home life compared to men.

Psychologist Andrea Kellerman observed that women are more likely to acknowledge and express their stress, partly due to societal expectations of emotional support and family nurturing. Women often juggle multiple stressors simultaneously, leading to heightened stress levels. Additionally, many women now balance roles as both mothers and breadwinners, adding to their financial pressure.

The primary financial concerns for most individuals are short-term issues such as running out of money before the end of the month and managing debt. While the concern of having “more month than money” spans all age groups, 70% of those under 55 report financial worries. In contrast, those 55 and older are less concerned about monthly financial management but are more anxious about retirement. Middle-aged individuals face dual pressures of insufficient funds and debt repayment.

A concerning statistic is that 68% of respondents spend more than 30% of their after-tax income on debt repayments, with 53% allocating more than 40% of their earnings to debt servicing. Generally, consumers are advised not to exceed 30% of take-home pay on debt repayments, with 40% being the maximum.

Older individuals and higher earners are more likely to carry unsustainable debt, with 60% of those aged 45 and above and those earning over R20,000 per month experiencing high debt levels. These groups, while under significant debt pressure, are often reluctant to seek help, citing trust issues as a major barrier. In contrast, 54% of younger consumers show a willingness to address money stress but may lack clarity on available options. Younger individuals often feel embarrassed or uncertain, while those over 35 tend to procrastinate.

Kellerman points out that individuals over 55 may prioritize retirement security over current debt concerns. Long-term exposure to debt stress can lead to a “freeze mode” response, where reduced energy and resilience may cause individuals to ignore their issues.

Younger people, though motivated and adaptable, face challenges such as limited job opportunities and high startup costs. They may feel stuck despite having better financial knowledge compared to previous generations. “The tragedy is that many who could benefit from debt counseling and other debt management resources do not seek help due to a lack of awareness, indecision, embarrassment, or mistrust,” Sager said.

DebtBusters offers various tools to aid consumers, including Debt Radar for debt management and the Debt Sustainability Indicator for making debt repayments more manageable. Plans to launch MoneySavers in late 2024 aim to help subscribers save on everyday expenses.

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ANC Backs Tougher Action on Undocumented Migration Amid Rising Public Pressure

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Fikile Mbalula

ANC Secretary-General Fikile Mbalula has acknowledged growing public concern over undocumented migration, warning that illegal immigration presents serious challenges for South Africa’s security, economy, and law enforcement systems.

Speaking during a media briefing following the ANC’s latest National Executive Committee (NEC) meeting on Tuesday, Mbalula said the party recognises the urgency of addressing undocumented migration, particularly as concerns mount over its links to organised crime and social instability.

He said undocumented migration cannot be ignored, pointing to issues such as human trafficking, drug smuggling, and other criminal networks that exploit weak border systems and inadequate enforcement mechanisms.

Mbalula stressed that the ANC’s focus is on resolving the broader national problem rather than aligning itself with any protest movement, including anti-migrant group March and March, which has recently gained national attention through demonstrations calling for stricter immigration enforcement.

The organisation has threatened to stage a nationwide shutdown on June 30 if government fails to act on its demands, which include tighter visa controls, a review of asylum procedures, action against employers hiring undocumented foreign nationals, and restrictions on access to certain public services for undocumented migrants.

While distancing the ANC from the movement itself, Mbalula said many of the concerns being raised reflect genuine frustrations among South Africans, particularly around jobs, safety, and the pressure on public resources.

He highlighted government efforts already underway to tighten controls, including the strengthening of border management authorities and the planned deployment of 10,000 labour inspectors announced by President Cyril Ramaphosa during this year’s State of the Nation Address.

According to Mbalula, these inspectors will play a critical role in identifying companies that employ undocumented migrants unlawfully, often at the expense of South African workers.

He warned businesses that violate labour and immigration laws could face serious consequences as authorities increase inspections and enforcement operations.

The ANC secretary-general also raised concerns about ownership trends in township economies, particularly the growing number of small businesses allegedly being operated by undocumented foreign nationals.

He suggested that in some communities, local businesses are being displaced or taken over under questionable circumstances, raising concerns about unfair competition and the possible sale of counterfeit or illegal goods.

Mbalula said government intervention must strike a careful balance—protecting South African citizens and local businesses while ensuring that frustrations over immigration do not lead to violence or unlawful actions.

His comments come as immigration policy continues to dominate political debate, with growing calls for government to strengthen border security and improve enforcement of existing laws.

As pressure builds ahead of the threatened June 30 shutdown, the ANC appears to be signalling support for firmer immigration controls, while urging calm and lawful engagement as the country navigates one of its most sensitive social and political challenges.

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West Rand Residents Fear for Their Safety as Massive Sinkholes Emerge in Witpoortjie Estate

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West Rand Residents

Residents of Witpoortjie Estate on Johannesburg’s West Rand are living in growing fear after three massive sinkholes opened up in different parts of their community, with illegal mining believed to be the main cause.

The sudden appearance of the sinkholes has intensified concerns in an area already struggling with frequent power outages, malfunctioning traffic lights, and ongoing crime. Community members say they now face the added daily anxiety of the ground beneath them potentially collapsing without warning.

Officials from the Johannesburg Roads Agency (JRA), accompanied by Johannesburg Transport MMC Kenny Kunene, conducted oversight inspections in the affected area on Monday as authorities assessed the extent of the damage and the potential risks to residents.

Illegal and unlicensed mining has long been a major issue across parts of the West Rand, but locals say the emergence of these dangerous sinkholes marks a new and alarming threat to their safety.

Some of the sinkholes are estimated to be more than 10 metres deep and around five metres wide. One of the most concerning is located dangerously close to a children’s play area, raising fears that an accident could occur if urgent action is not taken.

Parents in the community say they are particularly worried about their children, with many concerned that the exposed craters remain accessible despite the obvious danger.

Residents say the sinkholes serve as a stark reminder of the long-term environmental damage linked to illegal mining operations, which have destabilised underground structures and left communities vulnerable to disaster.

Kunene has promised urgent intervention and assured residents that their concerns are receiving serious attention. However, for many in Witpoortjie Estate, such promises have become familiar, and frustration is growing over what they see as delayed action.

Community members are now calling for immediate safety measures, including securing the affected areas and conducting further investigations into the extent of underground damage before the situation worsens.

As authorities continue their inspections, residents remain on edge, hoping swift intervention will prevent tragedy and restore a sense of security to their neighbourhood.

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Limpopo Officers Stop Overloaded Bus with 90 Passengers on N1

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Limpopo Officers Stop Overloaded Bus

Traffic authorities in Limpopo have intercepted an overloaded cross-border bus carrying 90 passengers on the N1, raising renewed concerns over passenger safety and illegal transport operations on South Africa’s major highways.

The bus, which was travelling from Malawi to Johannesburg, was stopped during a routine traffic law enforcement operation near the Mashishing off-ramp outside Polokwane on Monday.

According to the Limpopo Department of Transport and Community Safety, the vehicle was licensed to carry only 70 passengers but was found transporting 90 people, exceeding its legal capacity by 20 passengers. Authorities also discovered discrepancies in the passenger manifest, with only 25 passengers officially listed despite dozens more being on board.

Officials from the South African Police Service (SAPS) and Immigration Services were called to the scene to assist with investigations, including verifying the immigration status of those travelling on the bus.

Limpopo provincial police commissioner Lieutenant-General Thembi Hadebe, who attended the scene, expressed concern over the condition of the vehicle and the risks posed to passengers.

She said authorities suspect the bus may also be unroadworthy, adding that such vehicles continue to contribute to road fatalities in the province.

“We are discouraging this type of incident, where people travel in overloaded and potentially unsafe buses that put lives at risk,” Hadebe said.

Authorities also indicated that the bus had travelled a considerable distance before being intercepted, raising questions about how it managed to pass through multiple checkpoints undetected.

The Limpopo Department of Transport warned operators that overloading remains a serious violation of road safety laws and vowed to intensify enforcement operations targeting non-compliant public transport vehicles.

“We remind all operators that overloading puts lives at risk and is a direct violation of road safety regulations. Law enforcement will continue to act decisively against such practices,” the department said.

This is not the first time Limpopo officials have intercepted overloaded cross-border buses. In recent months, authorities have impounded several buses travelling between South Africa and neighbouring countries after discovering severe overloading, unroadworthy conditions, and permit violations.

Road safety experts have repeatedly warned that overloaded buses increase the risk of tyre blowouts, brake failures, and fatal crashes, particularly on long-distance routes.

Passengers on the intercepted bus are expected to be provided with alternative transport arrangements while authorities continue their investigation.

Members of the public have been encouraged to report overloaded or suspicious vehicles to law enforcement agencies to help prevent road accidents and protect commuter safety.

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