SAFTU's Vavi - South Africans are more indebted than ever before

SAFTU's Vavi - South Africans are more indebted than ever before

SAFTU secretary-general Zwelinzima Vavi says that citizens are more indebted than ever, concerned about the impact an increase in municipal tariffs will have on consumers.

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South African Federation of Trade Unions' Zwelinzima Vavi is concerned for the financial security of citizens.

Vavi commented on the dire situation facing Mzansi, with municipal tariff increases kicking in as of today:

“People’s cars and homes are being dispossessed in a rate that’s unheard of before. The SMMEs, mainly owned by black people, are being liquidated and the high rate of companies closure. How are we supposed to live?”

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More than 10 million South Africans are unemployed, with little hope of any improvements in the nearby future and dismal predictions for the nation's economic growth.

Alain Soriano, owner of the Best Before Shop, says that clients come to his business to buy marked-down items on sale in efforts to stay afloat.

EWN reports that these items are either near to or just past their sell-by date but still safe for consumption, highlighting the lengths people are going to to keep food on the table.

While some relief may be coming in the form of a petrol price dip, wealth coach Samke Mhlongo is encouraging people to make the most of their abilities:

“Start a side hustle - how do I monetise my hobbies? Become an eating out influencer... tag the brands you use on social media.”

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Source: Briefly.co.za

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