Neil Roets, CEO of Debt Rescue, is deeply worried about the upcoming 40% electricity tariff increase planned for April 1, 2025. Roets fears that this massive hike will push families into heartbreaking decisions, like having to choose between keeping the lights on or putting food on the table.
The Growing Debt Crisis
Roets has been keeping a close eye on the financial struggles of ordinary South Africans. He’s noticed that more and more people are turning to credit just to get through the month. The numbers don’t lie: the amount of household income going toward debt payments has shot up by 37% in just two years.
Pleas for Help
At Debt Rescue, Neil Roets has seen a surge in people reaching out for help with debt counselling. It’s clear to him that many South Africans are at a breaking point, with the electricity hike being just one more burden they can’t afford. Roets knows that the demand for debt counselling is only going to grow as more people seek ways to cope with the mounting financial pressure. For him, these enquiries are a sobering reminder of the real-life impact of South Africa’s ongoing economic challenges.
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