{"id":93543,"date":"2025-11-27T10:59:17","date_gmt":"2025-11-27T10:59:17","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/ncr-says-over-10-million-south-africans-are-over-indebted"},"modified":"2025-11-27T12:36:07","modified_gmt":"2025-11-27T12:36:07","slug":"ncr-says-over-10-million-south-africans-are-over-indebted","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/ncr-says-over-10-million-south-africans-are-over-indebted","title":{"rendered":"NCR says over 10 million South Africans are over-indebted"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The National Credit Regulator (NCR) has revealed that more than 10 million South Africans are over-indebted.<\/p>\n

It added that 36% of the population have three to five credit accounts in arrears.<\/p>\n

Now, ahead of Black Friday, its warning consumers to refrain from impulsive spending.<\/p>\n

The regulator\u2019s Alfred Matsimbi said marketers tend to rely on a shopper\u2019s fear of missing a good deal.<\/p>\n

\u201cEverybody’s rushing to the shopping malls and they are buying. Many of us will end up buying things that we really don’t need. So, that’s the biggest mistake of buying things that we do not really need.\u201d<\/p>\n

He added that this places consumers under psychological strain.<\/p>\n

\u201cWe are all flocking to the shops, the crowds, they are flocking. And unfortunately, it hits us psychologically. And unfortunately, overspending, reckless spending is at the doorstep. You’ll end up being over-indebted.\u201d<\/p>\n

PEACE OF MIND OVER PRESSURE TO SPEND<\/b><\/p>\n

The NCR is advising consumers to prioritise peace of mind over the pressure to spend.<\/p>\n

Matsimbi said whileit\u2019s important for consumers to enjoy the festive season by spoiling themselves, one\u2019s financial future is more important.<\/p>\n

As Black Friday opens festive spending, Matsimbi urges consumers to be mindful of their financial obligations, which loom in January.<\/p>\n

He added that many consumers who spend their hard-earned salaries within just one week may have to resort to micro lenders come January.<\/p>\n

\u201cAnd after that, January, when it comes on the 5th of January, we have to go back to work. Unfortunately, many of us will have to go back to the machine, the banks, micro lenders.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. The National Credit Regulator (NCR) has revealed that more than 10 million South Africans are over-indebted. It added that 36% of the population have three to five credit accounts in arrears. Now, ahead of Black Friday, its warning consumers to refrain from impulsive spending. The regulator\u2019s Alfred Matsimbi said marketers tend to […]<\/p>\n","protected":false},"author":84,"featured_media":93542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3],"tags":[275],"class_list":["post-93543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-community","tag-south-africa-2"],"yoast_head":"\nNCR says over 10 million South Africans are over-indebted - South Africa<\/title>\n<meta name=\"description\" content=\"The National Credit Regulator (NCR) has revealed that more than 10 million South Africans are over-indebted. 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