Carmen Williams, Director of Research & Consulting at TransUnion Africa
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Times are definitely tough for most South African consumers. TransUnion just released its South Africa Industry Insights Report (IIR) for the first quarter of 2019 indicates that consumers are looking for credit more and more to meet their needs or service existing debt. On the other hand, lenders are showing caution in giving out credit against the backdrop of challenging economic conditions.
The newly released TransUnion (NYSE: TRU) Q1 2019 South Africa Industry Insights Report reveals that consumer demand for credit remains high, with outstanding balances increasing across all major credit categories when compared to the same time a year ago. This increase in borrowing levels is likely driven in part by the current challenging economic conditions and the need for consumers to use credit as a means to help finance day-to-day expenses as well as larger ticket purchases.
The newly released TransUnion (NYSE: TRU) Q1 2019 South Africa Industry Insights Report reveals that consumer demand for credit remains high, with outstanding balances increasing across all major credit categories when compared to the same time a year ago. This increase in borrowing levels is likely driven in part by the current challenging economic conditions and the need for consumers to use credit as a means to help finance day-to-day expenses as well as larger ticket purchases.
