DebtBusters logo
DebtBusters green overlay
086 999 0606 Login Call me

Our experts in the media

BusinessTech | How salaries in South Africa are shrinking

South African salaries have effectively shrunk over the last five years, new data from debt counsellor DebtBusters shows.

While nominal incomes were 3% higher compared to 2016 levels, when cumulative inflation growth of 24% is factored in for the same period, real incomes shrank by 21% over the five-year period.

This has led to South Africans having less disposable income and increasingly relying on debt to make ends meet, the group said.

“Unsecured debt for the average client is 32% higher than 2016 levels; for top earners, the figure is 49%. This indicates consumers continue to use unsecured credit to supplement their incomes.”

Read the full article on BusinessTech.

Originally featured by:

Laurel

DebtBusters experts are regularly quoted by...

Laurel
Laurel
Laurel
Laurel
Laurel
Laurel
Explore latest coverage
Contact Us

5th Floor, 11 Adderley Street,Cape Town, 8001
[email protected]

Operating Hours:

Mon-Thu: 07:00 - 21:00
Fri: 07:00 - 18:00
Sat: 09:00 - 12:30

Call our experts now on 0861 365 910Registered debt counsellor NCRDC2484A member of the National Debt Counsellors Association