Consumers in South Africa shrugged off macroeconomic headwinds to remain optimistic about their financial prospects in the third quarter of 2022, according to consumer credit reporting agency, TransUnion.
’s Q3 2022 Consumer Pulse Study said they expect their incomes to increase in the next year, while two in three said they will be able to pay their current bills and loans in full.
As such, almost all respondents believe access to credit and lending products are important to achieve their financial goals. As many as 70% said they conduct at least a quarter of their transactions online, a six-percentage point increase from the beginning of the year. “This lack of awareness is concerning since the assumption is these consumers may have been targeted but were unaware of any attempts — which may have resulted in them falling victim to schemes without knowing it.
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