TransUnion sees more debt pressure on consumers

Ramaselwana
Ramaselwana

Leading consumer insights firm, TransUnion, says local borrowers are facing the heaviest debt burden in the post-COVID era, marked by reduced debt affordability, higher debt pressures, and decreased appetite for loans, due to various economic factors.

TransUnion has over 13,000 associates operating in more than 30 countries, including Botswana, Kenya, Malawi, Namibia, Rwanda, South Africa, Eswatini, and Zambia.

Kabelo Ramaselwana, country manager at TransUnion Botswana, told BusinessWeek several factors were driving the challenges consumers are facing in the credit market. These include increasing debt service ratios and inflation eroding disposable income, escalating cost of living, which limits consumers' ability to take on additional debt as well as growing household indebtedness, particularly in areas of expensive or unsecured lending, leading to financial strain.


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