Yes, debt levels are high, but so is wealth

By Ethel Hazelhurst

Johannesburg – Though South Africans are more deeply in debt that ever before, they are also wealthier.

The net wealth of households as a ratio of disposable income rose strongly from a low of 298 percent in 2002 to 317 percent in the first half of this year, according to the Reserve Bank’s annual economic report, released yesterday. More…

Credit regulator hones in on non-compliant retailers

By SAMANTHA ENSLIN-PAYNE

Durban – The National Credit Regulator (NCR) is honing in on clothing retailers to check their compliance with the National Credit Act.

Gabriel Davel, chief executive of the NCR, said yesterday: “There are a couple of retailers we have issues with. We are doing a conduct review at four retailers.”

He declined to name them but said the NCR would examine the retailers’ upfront disclosure to consumers who applied for store cards. More…

Slower retail sales growth eases chance of rate hike

Local retail sales growth slowed to 4.9 percent year on year in July at constant prices, according to official data yesterday, weakening the argument for another interest rate hike next month.

Statistics SA said retail sales, the main measure of consumer demand, braked from an upwardly revised 7.1 percent in June and increased by 6.8 percent in the three months to July compared with the same period last year, also at constant prices. More…