Improvement in how credit being managed in tough economic times
TransUnion Africa CEO, Lee Naik says the 2017 Consumer Credit Index Report shows a significant improvement in debt repayment behaviour which is a sign of responsible financial management in millions of South African citizens.
He says the CCI climbed at its fastest pace in two years, from 49.7 to 52.4, showing a good credit health among South African borrowers.
This tells us that the credit health is actually improving...Lee Naik, TransUnion Africa CEO
The National Credit Act has forced organisations that lend us money to be a lot more prudent in their decisions - the lending requirements have tighten up.Lee Naik, TransUnion Africa CEO
on the other hand we as ordinary consumers have realised that it is actually tough in these uncertain times and we started to tighten our belts and stopped making luxury purchases.Lee Naik, TransUnion Africa CEO
We as consumers have become much more aware of the cost of credit and in so doing are making much better decisions.Lee Naik, TransUnion Africa CEO
To listen to TransUnion Africa CEO, Lee Naik, listen below: