When a golden goose stops laying eggs

Friday, May 12, 2017

Many consumers are debt-weary and wary PIC: KAGISO ONKATSWITSE

Households have generally been the golden geese for commercial banks, helping them to super-profits over the years, anchored by consumerism and high credit appetites. A convergence of factors however, drove credit growth last year to its lowest level in more than 22 years, leaving banks wondering whether their greed had finally killed the golden goose. Staff Writer, MBONGENI MGUNI reports

“What we are doing to people in this country, giving them loan after loan, bo machonisa and others also involved, without giving them advice, is killing our people. People have very high debt and garnish notes are all over their payslips.

“And yet some dubious fathers have five homes and banks are helping them support those.”

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When a golden goose stops laying eggs

Stanbic pretax profits up 11%

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

Serowe woman ingests acid, attempts suicide

Inspect the voters' roll!