Banks, BASA, Treasury agree to curb irresponsible lending
Representatives of major retail banks, the Banking Association of South Africa (BASA) and the National Treasury have signed an agreement aimed at improving responsible lending and preventing households from being caught in a debt spiral. In a joint statement on Thursday, the parties expressed concerns at the excessive…
Unemployment rate rises
South Africa’s unemployment rate had increased from 24.9% to 25.5% in the third quarter of 2012, said Statistics South Africa (Stats SA) on Thursday. Releasing the third Quarter Labour Force Survey (QLFS) on Thursday, Stats SA said the number of unemployed persons, at 4.6 million in the third…
Wrong to believe inequality has widened since 1994 – Zuma
President Jacob Zuma said it was wrong and scientifically not true that the gap between the rich and poor had widened since 1994, and that this amounted to an attack on the democratic government. Addressing the opening of the National House of Traditional Leaders, Zuma argued that before…
