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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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Ramaphosa Announces Five Measures to Tackle Illegal Immigration Amid Rising Tensions

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Ramaphosa

President Cyril Ramaphosa has announced a series of measures aimed at addressing growing public concerns over illegal immigration and border security as tensions around undocumented migrants continue to rise across South Africa.

The president addressed the nation on Sunday following weeks of anti-immigrant protests and increasing pressure on government to act against undocumented foreign nationals living in the country. Demonstrations have been reported in several provinces, including Gauteng, KwaZulu-Natal and the Western Cape, with some communities demanding stricter immigration enforcement.

One of the groups at the centre of the protests is March and March, an anti-migrant movement that has been organising demonstrations and calling for undocumented migrants to leave South Africa by June 30. The group’s campaign has sparked fear among some foreign nationals, with reports indicating that several migrants have already left certain communities due to concerns over possible violence and planned shutdown actions at the end of the month.

In his address, Ramaphosa acknowledged that many South Africans feel frustrated about immigration, unemployment and crime, saying government could not ignore the concerns being raised by citizens.

“South Africans are asking difficult but legitimate questions,” the president said. “They are concerned about safety, security and the rule of law. These concerns are real, and they deserve to be addressed.”

Ramaphosa stressed that South Africa remains a constitutional democracy governed by law and warned against vigilante actions targeting foreign nationals. He said only authorised law enforcement and immigration officials have the legal authority to deal with immigration violations.

“No individual or group has the right to stop people on the streets, demand identification documents or threaten foreign nationals,” he said. “Such actions undermine the rule of law and threaten social stability.”

The president outlined five key interventions government will implement to strengthen immigration management and improve border control.

The first measure involves intensifying operations against undocumented migrants and criminal syndicates linked to human trafficking, illegal border crossings and fraudulent documentation. Authorities will also increase collaboration between police, immigration officials and intelligence agencies to combat organised crime connected to illegal migration.

Secondly, government plans to strengthen border management systems to reduce illegal entry into the country. Ramaphosa said the Border Management Authority would receive additional support and resources to improve surveillance and monitoring at ports of entry.

The third intervention focuses on improving the efficiency of the immigration system, including visa processing, asylum applications and deportation procedures. Government has faced criticism in recent years over delays and backlogs within the Department of Home Affairs, with some cases taking years to process.

The fourth measure includes cracking down on corruption involving immigration officials and syndicates accused of selling fraudulent permits and identity documents. Ramaphosa said corruption within the system weakens national security and damages public trust in government institutions.

The fifth intervention involves working with communities and civil society organisations to prevent violence and xenophobic attacks while promoting lawful solutions to immigration challenges.

Ramaphosa also urged South Africans not to blame all foreign nationals for the country’s economic and social difficulties. He said many migrants contribute positively to the economy and society through business activities, labour and skills development.

South Africa has long struggled with high unemployment, poverty and crime, factors that have fuelled tensions between local communities and foreign nationals. Competition for jobs and access to public services has often intensified frustrations, particularly in poorer communities.

Political parties and civil society groups remain divided on how government should respond. Some organisations have called for tougher border controls and stricter immigration laws, while others warned against xenophobia and collective punishment of migrants.

Human rights groups have also expressed concern over inflammatory rhetoric during recent protests, warning that anti-migrant campaigns could escalate into violence similar to previous xenophobic attacks witnessed in the country over the years.

Ramaphosa appealed for calm and unity, saying government would continue enforcing the law while protecting the rights and dignity of everyone living in South Africa.

“We must resolve these challenges through lawful means,” he said. “We cannot allow fear, anger or frustration to divide our communities or lead to violence.”

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Ngizwe Mchunu Issues Public Apology to Julius Malema After Defamation Court Ruling

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Ngizwe Mchunu - Malema

Controversial commentator and social media personality Ngizwe Mchunu has publicly withdrawn a series of damaging allegations made against Economic Freedom Fighters (EFF) leader Julius Malema, issuing an unconditional apology following court intervention.

The apology comes after two court rulings delivered in May 2026 ordered Mchunu to account for remarks that were found to be defamatory and harmful to Malema’s reputation.

In a public statement released on Thursday, Mchunu said he had consulted with his legal team and now understood the seriousness and legal consequences of his comments. He acknowledged the court directives and formally apologised to Malema, adding that he would not repeat similar accusations going forward.

The withdrawn remarks included allegations that Malema had allegedly received millions from undocumented foreign nationals and drug traffickers in exchange for political protection. Mchunu also retracted claims linking the EFF president to the looting of VBS Mutual Bank and the misuse of public funds connected to Ekurhuleni projects and On Point Engineering.

Apart from the corruption allegations, Mchunu had also made several insulting personal remarks aimed at Malema. In previous public appearances and interviews, he referred to the politician using derogatory terms and made inflammatory comments challenging him to confront him in Nkandla.

One of the incidents referenced in court papers related to an interview conducted in Johannesburg on April 30, where Mchunu intensified his attacks on the opposition leader. During the interview, he described Malema in disparaging language and claimed the EFF leader belonged behind bars.

He further accused Malema of benefiting from corrupt dealings involving VBS and On Point Engineering while alleging that the politician was financially supported by undocumented foreign nationals.

The North Gauteng High Court in Pretoria ruled that the statements amounted to defamation and issued an order prohibiting Mchunu from repeating the allegations in any form, whether directly or indirectly.

As part of his compliance with the court orders, Mchunu formally retracted all statements made before and after the legal proceedings and appealed to his supporters and members of the public to respect his decision to apologise.

The matter has once again drawn public attention to the growing number of defamation disputes involving political figures and online personalities in South Africa, particularly as political rhetoric increasingly spills onto social media platforms and public broadcasts.

Malema and the EFF have not yet publicly commented on Mchunu’s latest apology and retraction.

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Tempers Flare in Parliament Over Rules for Ramaphosa Phala Phala Impeachment Inquiry

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Doris Mpapane

Parliament’s ongoing efforts to establish rules for the Section 89 impeachment inquiry into President Cyril Ramaphosa descended into heated exchanges on Wednesday evening, with political parties sharply divided over how the process should move forward following the Constitutional Court’s ruling on the Phala Phala matter.

Tensions emerged during a meeting of Parliament’s Sub-Committee on the Review of National Assembly Rules, where lawmakers debated proposed amendments that will guide the impeachment inquiry linked to allegations surrounding the president’s Phala Phala farm scandal.

The meeting focused on developing a framework for how the inquiry committee should operate after the Constitutional Court ruled that aspects of Parliament’s previous handling of the matter were inconsistent with the Constitution. The judgment effectively forced lawmakers to revisit the impeachment process and establish a clearer mechanism for the inquiry.

A major point of contention during the discussions was whether finalising the revised rules would slow down the impeachment committee’s work. Members of the uMkhonto weSizwe Party argued that Parliament risked delaying accountability by spending too much time refining procedural matters instead of allowing the inquiry to proceed immediately.

MK Party MP Mzwanele Manyi openly challenged the approach adopted by the committee, questioning whether the rules review process was becoming an obstacle rather than a support mechanism for the inquiry.

Manyi insisted that the Constitutional Court ruling required urgency and warned against unnecessary delays. He argued that Parliament should already be moving ahead with substantive investigations into the allegations linked to the president instead of becoming trapped in procedural debates.

The comments triggered a tense exchange with committee chairperson Doris Mpapane of the African National Congress, who defended the ongoing process and rejected suggestions that Parliament was dragging its feet.

Mpapane maintained that the drafting and refinement of the rules were not preventing the impeachment committee from carrying out preparatory work. She told MPs that there was no provision in the proposed regulations stating that the inquiry had to pause until every procedural issue had been finalised.

According to Mpapane, administrative and operational preparations were already continuing behind the scenes, despite the ongoing deliberations over the rules framework. She urged members not to create the impression that Parliament was ignoring the court ruling or intentionally frustrating the process.

The disagreement highlighted broader political tensions surrounding the Phala Phala scandal, which has remained a source of intense scrutiny for Ramaphosa since allegations first emerged regarding large sums of foreign currency allegedly stolen from his Limpopo game farm.

Opposition parties and critics have repeatedly accused Parliament of previously failing to hold the president accountable, leading to the Constitutional Court challenge that ultimately overturned parts of the National Assembly’s earlier approach.

The latest debates also exposed divisions over how Parliament should balance speed with procedural fairness. Some MPs argued that rushing the inquiry without comprehensive rules could create legal complications later, while others insisted that further delays could undermine public confidence in Parliament’s oversight role.

Parties represented on the sub-committee have submitted various proposals aimed at strengthening the Section 89 process, including provisions relating to evidence gathering, witness procedures, timelines and committee powers. Lawmakers are now expected to continue negotiating these proposals before a final framework is adopted.

The impeachment inquiry is expected to become one of the most politically significant parliamentary processes ahead of future national elections, with opposition parties likely to intensify pressure on the governing ANC over accountability and transparency.

Despite the clashes during the meeting, Parliament appears determined to proceed with establishing a functioning inquiry mechanism in line with the Constitutional Court’s judgment. However, the sharp disagreements witnessed during deliberations suggest that the road ahead could remain politically charged as parties battle over both process and substance in the Phala Phala matter.

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