When a golden goose stops laying eggs

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

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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