JOHANNESBURG - South Africans' love for credit shows no sign of slowing down.
Research firm Eighty20 reveals that there were 700,000 new credit individuals in the first quarter of this year.
That's a 27 percent increase from 2024.
And total debt taken on by these new individuals?
A whopping R4.8-billion.
So, why are more people taking on credit in an underperforming economy?
Eighty20 Managing Director, Andrew Fulton, said credit is important for a credit rating.
"It is important for young people to enter the credit market, but living beyond your means can become a danger."