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The Eighty20 / XDS Credit Stress Report is framed by the notable local and global economic, political and other events that impact economic indicators and credit use in South Africa. The main story in Quarter Two was surging inflation, internationally and at home.
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2022 Q1 saw South Africa coming out of a relatively robust holiday period, into the headwinds of the biggest European war since WWII. Fears of a US recession and rising global inflation have compounded matters.
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In December SA experienced the “cruel and racist logic of Omicron travel bans” when wealthy nations restricted travel to SA after our scientists identified the new Covid variant. While the impact of the loss of a second tourist season will be felt longer term, 2021Q4 data showed the Middle Class sliding further into debt. VAF and credit cards most affected with overdue debt up 35% and 20% respectively YoY.
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Eighty20 and XDS Credit Bureau have partnered to create a quarterly Credit Stress Report. This report highlights the impact of economic forces on the South African consumer, with particular focus on consumer credit behaviour.
All credit data in this report was sourced from the Eighty20 / XDS Online Credit Portal.
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On the positive side, South Africa has emerged from the third wave with more than a quarter of the 18+ population vaccinated, but consumers have been hit with significant petrol, electricity and food price increases that will have ramifications on the credit stress of most South Africans. Eighty20’s Credit Stress Report 2021 Q3 – compiled in collaboration with XDS – unpacks some of these developments
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As South Africa faces the prospect of a third wave, South Africans are still battling with debt pressure. Eighty20’s Credit Stress Report 2021 Q2 – compiled in collaboration with XDS – unpacks some of these developments
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