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Mahindra has cemented its position as one of South Africa’s favourite brands with an all-time sales record in 2025. The company reported a total of 18 097 vehicles sold over the past calendar year, representing massive 40% year-on-year growth. In contrast to Mahindra’s growing sales, the total vehicle industry grew by approximately 15% to recover …
Vodacom Group (www.Vodacom.com) has once again been certified and recognised as Africa's number one employer by the Top Employers Institute, marking its third consecutive win and reinforcing the company's commitment to delivering an exceptional employee experience.
This prestigious certification and first place ranking have been awarded to Vodacom Group, alongside separate certifications for Vodacom Mozambique, Vodacom South Africa, Vodacom Tanzania, and Safaricom Ethiopia and Kenya.
Vodacom Group Chief Executive, Shameel Joosub says, “Being certificated as Africa's Top Employer for a third consecutive year marks an important milestone in our Vision 2030 journey. Not only is this testament to our consistency in leading with purpose but it also shows that our people centric approach and focus on talent development and workplace culture is impactful”.
The Top Employer certification is a critical benchmark for assessing Human Resources (HR) practices, evaluating how effectively companies align HR frameworks, culture, and employee experience with international standards of excellence. The certification spans 20 HR domains, including People Strategy, Talent Acquisition, Learning and Development, Leadership Development, Performance Management, Employee Wellbeing, and Diversity and Inclusion.
"We are incredibly proud to maintain our position as Africa's Top Employer for the third consecutive year. This achievement demonstrates that creating an exceptional employee experience is a sustained commitment to our people. We believe that the well-being and empowerment of our employees contributes directly to our ability to fulfil our purpose of connecting for a better future," says Matimba Mbungela, Chief Human Resources Officer at Vodacom Group.
Vodacom Group achieved an exceptional overall Top Employer score of 99.56%, with Vodacom Mozambique recording the highest Group score at 99.96%, Vodacom South Africa achieving 99.88%, and Vodacom Tanzania achieving 99.76%, maintaining its standing among the highest-rated employers globally. Safaricom Ethiopia and Safaricom Kenya each secured first place rankings in their respective countries. These results reaffirm Vodacom Group's consistent delivery of world-class HR practices.
Driving Innovation and Ethical AI Integration
This year, the Top Employers Institute expanded its evaluation criteria to reflect evolving global priorities in people management and organisational ethics, with new questions focusing on three critical themes: empowering workforce innovation and creativity, evaluating the human impact of AI in organisational processes, and embedding ethics and integrity across HR and technology integration.
A major highlight of this year's certification is the recognition of two Vodacom South Africa best practices for global benchmarking:
"The Top Employers Institute's increasing focus on fostering innovation, ethical leadership, and prioritising the human impact of technology, reflects where the world of work is heading. We're proud that Vodacom Group continues to set the standard in these areas by championing forward-thinking, employee-centric approaches and being recognised globally for these best practices," adds Mbungela.
Employee-Centric Approach
Vodacom Group's success is underpinned by continued investment in digital HR enablement, digital learning, future-fit skills, leadership capability, and holistic wellbeing. The organisation's Employee Value Proposition, built on principles of Compassion, Acceptance, Respect and Empathy (C.A.R.E.), includes enhanced wellness initiatives supporting all stages of life and a comprehensive family responsibility leave policy.
The company's commitment to talent development extends beyond its workforce to the broader African tech ecosystem. Through initiatives like the Vodacom Digital Skills Hub, CodeLikeAGirl, Discover Graduate, and Spirit of Vodacom, the company continues to drive empowerment and create opportunities across the continent, preparing the next generation for careers in science, technology, engineering, and mathematics (STEM).
Looking Ahead
"As we look ahead, Vodacom Group remains dedicated to creating a workplace that inspires excellence, supports growth, and connects every employee to our shared purpose. Our third consecutive year as Africa's Top Employer is testament to our people-first approach and our commitment to fostering innovation and ethical technology adoption that puts people at the center of the organisation," concludes Mbungela.
Distributed by APO Group on behalf of Vodacom Group.
Coca-Cola Beverages Africa (CCBA) (www.CCBAGroup.com) is proud to announce its recognition as a Top Employer in Africa for 2026 by the Top Employers Institute (https://apo-opa.co/45b21Rr). In addition to this regional accolade, seven countries in the CCBA footprint – Botswana, Ethiopia, Kenya, Mozambique, South Africa, Tanzania and Uganda – have been certified as Top Employers at a country level.
This marks the second consecutive year that CCBA has achieved regional-level certification, with its operations in Ethiopia, South Africa, Tanzania, and Uganda also certified at a country level. Notably, all these countries have improved their performance compared to last year. Furthermore, this year represents the first certification for CCBA's operations in Botswana, Kenya, and Mozambique.
The Top Employers Institute, active in 125 countries/regions, is considered to be the global authority in HR certification, benchmarking and advisory. Its programme (https://apo-opa.co/4sI5vF7) certifies organisations based on the results of its HR Best Practices Survey which covers six domains including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity & Inclusion, and Wellbeing.
“This certification demonstrates our commitment to unparalleled professional growth for our people, providing an exciting journey of learning and development within a passionate, caring team,” said Natasa Prodanovic, CCBA Chief People and Culture Officer.
“We thrive on delivering beloved Coke brands, making a positive impact on communities, and achieving market success together. We invest in our people to foster an inclusive and thriving workplace that accelerates our growth.”
Prodanovic added: “At CCBA, we don't hand you a role, we create an opportunity, give you the tools and we challenge you to build a career, to make it yours.”
Distributed by APO Group on behalf of Coca-Cola Beverages Africa.
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About CCBA:
CCBA is the eighth largest Coca-Cola authorised bottler in the world by revenue, and the largest on the continent. It accounts for over 40% of all Coca-Cola ready-to-drink beverages sold in Africa by volume. With over 14,000 employees in Africa, CCBA group services more than 800,000 customers with a host of international and local brands. CCBA group operates in 14 countries: South Africa, Kenya, Ethiopia, Uganda, Mozambique, Namibia, Tanzania, Botswana, Zambia, Eswatini, Lesotho, Malawi and the islands of Comoros and Mayotte.
Learn more at www.CCBAGroup.com
South African households are showing signs of meaningful financial adaptation amid ongoing cost pressures, according to TransUnion’s latest Q4 2025 Consumer Pulse Study. While inflation and affordability challenges persist, consumers are becoming more intentional in their financial management, tightening budgets, prioritising savings, and building greater digital and financial awareness.
“Consumers are entering 2026 with a renewed sense of financial discipline,” said Ayesha Hatea, director of research and consulting at TransUnion South Africa. “We’re seeing households make more deliberate choices, reducing non-essential spending, paying down debt and preparing for the future. This speaks to a financial confidence grounded in awareness and adaptability.”
Financial Adaptation in a High-Cost Environment
Nearly half (48%) of South Africans said their household finances were better than planned in Q4 2025, a sign of growing stability in an economy still defined by high living costs. Yet, 36% of consumers anticipate being unable to meet at least one bill or loan payment in full, revealing the continued strain on affordability.
In response, many households are taking deliberate steps to manage their finances. Half have reduced discretionary spending on non-essential activities such as dining out, entertainment, and travel, while more than a third (34%) have cancelled subscriptions or memberships. At the same time, 38% of consumers plan to increase their contributions toward retirement savings or investments, 35% are accelerating debt repayments, and 27% are setting aside more in emergency funds or stokvels.
These actions suggest that South Africans are not merely reacting to economic pressure but are intentionally strengthening their financial resilience. “Consumers are demonstrating a more strategic approach to money management,” said Hatea. “They’re preserving stability today while laying the groundwork for tomorrow.”
Younger Optimism Meets Experienced Caution
Generational insights reveal that financial resilience takes on different forms across age groups. Younger consumers, particularly Gen Z (18-28 years) and Millennials (29-44 years), tend to be the most optimistic about their financial future and are also the most likely to apply for new credit within the next year, with 42% and 39% expressing this intent, respectively.
In contrast, Gen X (45-60 years) and Baby Boomers (61+) demonstrate a more cautious approach, with only 33% and 9% likely to seek new credit, instead prioritising debt reduction and savings. Spending patterns further illustrate this divide: younger consumers plan to increase their spending on digital services such as internet and other discretionary activities like dining out or travel, while older generations indicate they will prioritise boosting retirement funds and strengthening emergency savings in the coming months.
Credit Access and Inclusion
Credit remains a vital tool for long-term financial mobility, with 91% of South Africans recognising its importance in achieving their financial goals. Yet, access to credit is uneven: only 42% feel they have adequate access, while 33% believe they do not. Despite this strong demand, just 36% plan to apply for new credit or refinance existing debt over the next year, with credit cards (30%), personal loans (28%), and car loans (20%) among the most popular products.
However, 44% of those who considered applying ultimately decided against it, citing barriers such as high borrowing costs (33%), fear of rejection due to their credit history (26%), and concerns over income or employment (24%).
“These findings highlight a need for more inclusive and transparent lending models,” said Hatea. “Consumers believe that a broader use of alternative data, such as rental or buy-now-pay-later payment histories can help extend fair access to credit while supporting responsible borrowing.”
Digital Fraud Threats Drive Demand for Simplified Protection Tools
Digital fraud continues to pose a significant threat to South Africans, with 59% targeted in Q4 and 12% falling victim. The most commonly reported schemes include money or gift card scams (32%), vishing (30%), phishing (29%), and smishing (27%). Despite these threats, 46% of consumers successfully detected and avoided fraud, reflecting growing vigilance. Among those affected by data breaches, 42% changed their passwords, 35% checked accounts for unauthorised activity, 30% closed compromised accounts, and only 16% signed up for identity monitoring.
In the past two months, reacting to security concerns, 58% changed passwords, 23% enabled multi-factor authentication, and 37% checked their credit reports. Yet, many remain unsure how to respond: 53% of those who took no action cited uncertainty about the steps to take, while 22% felt overwhelmed by cybersecurity information.
Empowered and Financially Aware Consumers
Financial awareness among South Africans continues to rise, with 93% recognising the importance of credit monitoring. Engagement with credit reports is also increasing, with 31% checking monthly, 16% weekly, and 8% daily.
Nearly half of consumers believe their credit score would improve if alternative data, such as rental payments or buy-now-pay-later histories, were considered, particularly among younger generations.
“This growing awareness of credit health is encouraging,” said Hatea. “Consumers are becoming more proactive and engaged, and that creates a powerful opportunity for businesses and lenders to support them with relevant, transparent financial tools.”
Building Financial Confidence for the Future
The Q4 findings paint a picture of a nation adapting with purpose, cautious but confident, pragmatic yet forward-looking. As South Africans continue to manage affordability pressures, the emphasis on long-term financial planning, inclusion, and protection is reshaping how consumers engage with the financial system.
“Resilience has become the defining characteristic of South African consumers,” said Hatea. “They’re not waiting for conditions to change, they’re taking control of their financial journeys, showing that confidence and caution can coexist.”
Consumers can get their free annual credit report from TransUnion here.
Notes to Editors: An online survey of 992 adults in South Africa was conducted between 25 September and 9 October 2025 by TransUnion with Dynata, using an online panel across desktop, mobile, and tablet. The survey, administered in English, included respondents aged 18 and older from all regions, with quotas applied to ensure demographic representation by age, gender, household income, race, and region. Generational groups were defined as follows: Gen Z (18–28), Millennials (29–44), Gen X (45–60), and Baby Boomers (61+).
January is a month of new beginnings. New jobs, promotions, university acceptances, and relocations often come with longer commutes. For many South Africans, these transitions share a common need: reliable transport. The used car market is where these stories often start, and 2026 is shaping up to be an interesting year for buyers navigating this …
Hyundai Automotive South Africa has extended its congratulations to learners who have successfully passed their 2025 National Senior Certificate examinations, while offering encouragement and renewed hope to those who did not achieve the results they had hoped for. This year, approximately 900,000 learners nationally sat for the examinations, marking one of the largest matric cohorts …
Pretoria: Range Rover has unveiled mirror-finish, a new hand‑crafted process that delivers a glass‑like lustre and an unprecedented depth of shine on all Bespoke gloss paint commissions. Developed to reflect the clarity and refinement of patent leather and polished stone, the mirror finish raises the standard for personalised exterior finishes across Range Rover and Range …
Emirates (www.Emirates.com) will continue rolling out its retrofitted Boeing 777 and new A350 aircraft to key destinations across Europe, North America, Asia, the Middle East, Africa, and Australia, bringing Premium Economy and its latest onboard products to more cities across its network.
The recently-announced third daily service on the Dubai-Cape Town route will now be served by an A350, bringing Emirates latest aircraft type to the market for the very first time. The deployment enhances travel options between South Africa and Dubai, with Emirates' full suite of products and services available for customers to enjoy – from the iconic A380 and the fully-retrofitted Boeing 777 to the next-gen A350.
Commenting on the deployment, Emirates' Regional Manager of Southern Africa, Afzal Parambil said, “With the deployment of the next-gen A350 on the third daily service between Dubai and Cape Town, South Africa becomes the only African nation on our network to be served by all three aircraft types on the Emirates fleet. This fleet mix provides the greatest flexibility for our customers to travel in and out of our three gateways, while still providing travellers with the world-renowned Emirates' experience, on every flight.”
Emirates also announced additional A350 deployments on new daily services to Copenhagen and Phuket, offering customers greater connectivity alongside an elevated onboard experience, ahead of the anticipated surge in winter travel demand. The airline will deploy its Premium Economy retrofitted A380, Boeing 777 and A350 aircraft with the latest cabin interiors on more than 84 routes by 1 July, underscoring its focus on delivering a premium and consistent experience across its network.
Additional flights and capacity to Copenhagen, Phuket and Cape Town
From 1 June, a second daily service will be introduced between Dubai and Copenhagen; a third daily service between Dubai and Phuket and the third daily to/from Cape Town will come into effect from 1 July. All three services will be operated with the airline's latest A350 aircraft, featuring its award-winning Premium Economy, in addition to the latest Business and Economy Class cabins.
From 1 June, Emirates' flight EK153 will depart Dubai to Copenhagen at 14:50hrs, arriving at 19:45hrs. The return flight, EK154, will depart Copenhagen at 21:35hrs, arriving in Dubai at 5:55hrs the following day.** The new service is optimally timed to provide seamless connections from Copenhagen to popular destinations via Dubai, to East Asia including, Bangkok, Bali, Manila, Tokyo Haneda and Phuket as well as convenient links to Colombo and Male. In addition, the service introduces new connections to key African cities such as Nairobi and Entebbe. Passengers travelling from key global cities, such as Taipei, Kuala Lumpur, Melbourne, Brisbane, Sydney, Auckland, Delhi and Bangalore will also benefit from the additional frequency to the Danish capital, with convenient onward connection times through Dubai.
From 1 July, Emirates' flight EK778 departing Dubai at 10:25 hrs, arriving in Cape Town at 18:05 hrs; the return flight, EK779, will depart Cape Town at 20:00 hrs and arrive in Dubai at 07:25 hrs the following morning. The third frequency offers travel options with optimised connections from/to London, Dublin, Bombay, Brussels, Australasia and key Asian markets, serving both leisure and corporate travel demand.
Emirates' double daily Cape Town service has seen consistently high load factors over the past year, particularly during peak periods. Inbound demand from the GCC continues to grow, while outbound traffic to Europe and the US East Coast remains strong.
From 1 July, Emirates' flight EK390 will depart Dubai to Phuket at 22:40hrs, arriving at 08:10hrs the following day. The return flight, EK391, will depart Phuket at 10:00hrs, arriving in Dubai at 13:05hrs. Travellers will benefit from additional travel options to the popular resort destination, which offers an early morning arrival ideal for those connecting from Europe including Manchester, Amsterdam, London, Paris and Frankfurt as well as Kuwait and Bahrain via Dubai. The new flight will also provide convenient onward connection times from Phuket to key gateways across Europe and the Middle East, including Madrid, Munich, Birmingham, Brussels, Dusseldorf, Hamburg, Edinburgh, Zurich and Amman.
The airline will also operate its A350 to Rome and Taipei from 1 May.
Planned Premium Economy route expansions:
Africa
Europe & North America
Asia
Australia
Middle East
Tickets can be booked on www.Emirates.com, the Emirates App, or via both online and offline travel agents as well as Emirates' retail stores.
* Aircraft deployment may be advanced if released earlier from refurbishment.
** All times are local.
Distributed by APO Group on behalf of The Emirates Group.
Johannesburg – South Africans continue to love the Hyundai brand, with Hyundai Automotive South Africa ending 2025 as the fourth largest automotive brand in the country, recording 36 409 new vehicle sales in a market characterised by unprecedented competition. The 2025 performance resulted in a 19% year-on-year growth. The achievement comes in a year where …
In a landscape crowded with products, promises, and polished marketing, one truth has become non-negotiable: brands with purpose earn trust faster, last longer, and grow deeper than those without it. Whether you are a business competing for market share or an NGO competing for attention and funding, purpose has become the new currency of credibility. …
How many times have we been told to work harder, grind longer, and chase success? Yet even with all that effort, many still hit invisible walls, plateau, or burn out. What if the real key to scaling wasn’t working harder, but becoming the person capable of achieving it? One of the biggest misconceptions in entrepreneurship …
Lagos, Nigeria — Nigeria’s rapidly expanding digital economy received a major infrastructure upgrade this week with the launch of the […]
Vehicle asset finance originations continued to surge, driven by younger consumers and prime and below risk tiers
Credit card originations grew, as higher demand was met with lower new account credit limits
Personal loan growth and risk patterns diverged amongst bank and non-bank lenders
TransUnion’s Q3 2025 South Africa Industry Insights Report highlights key trends in the South Africa credit market: vehicle asset finance continued its recovery, with stable account volumes and rising balances supported by longer loan terms and more affordable vehicle choices. Credit card usage expanded, with total book balances growing faster than account volumes, even as average balances per card remained stable and new account credit limits were reduced. Non-bank personal loans surged, driven by higher-risk consumers, though elevated delinquencies underscore the importance of strong affordability checks and consumer safeguards.
These shifting patterns in credit demand, usage and risk occurred against the backdrop of a cautiously improving economy. A 25 basis point (bps) interest rate cut in July, driven by favourable inflation trends, gave consumers some relief. However, unemployment remained high[1] at 31.9% for the quarter, highlighting persistent labour pressures that constrained the wallets of many consumers.
Within this context, the credit market showed signs of strategic adjustment. Consumers — especially younger cohorts — relied more on credit to manage day-to-day expenses and cash flow, while lenders recalibrated growth and risk strategies.
Vehicle Asset Finance Recovery Extended
South Africa’s vehicle finance market grew for the third consecutive quarter, driven by younger consumers in prime and below-prime risk tiers. New account originations rose 17.2% year-over-year (YoY), with the average new loan amount increasing to R412,000, up from R400,962 a year earlier.
Growth was supported by a shift in the used-to-new financing ratio, which fell from 2.67 in Q3 2020 to 1.03 in Q3 2025. Near-parity between new and used financing reflects the availability of budget-friendly new models, often compact or entry-level, that have narrowed the cost gap.
Consumers also opted for longer loan terms, prioritising monthly affordability over total lifetime financing cost. In Q3 2025, 49.6% of loans were for 72 months or longer, up from 38.2% four years ago and 45.6% in Q3 2024.
First-time buyer participation remained strong at 42% of originations, slightly up from 40% a year earlier. Nearly one-third (32%) of originations were to Gen Z consumers (born 1995–2010). Among first-time buyers, 80% were prime or below[2], compared to 48% for existing borrowers.
Account-level delinquencies stayed elevated at 7.2%, which underscores the need for early warning and pre-delinquency outreach, especially for borrowers showing signs of payment strain and increased reliance on credit.
“The market is stabilising away from the post-pandemic skew toward used vehicles, supporting consumers’ preferences for warranty coverage and predictable maintenance while expanding inclusion and access,” said Hatea. “In an increasingly competitive market, lenders need to calibrate loan terms, deposits, and residual values to match current conditions and customise products and insurance bundles for segments returning to new purchases.”
Credit Cards Reinforced Role as Financial Buffers for Consumers
Consumers remained under pressure: more than four in ten (41%) households said their income was not keeping up with inflation in Q3 2025, and 77% listed inflation for everyday goods as a top concern, according to TransUnion’s Q3 Consumer Pulse Study.
As consumers sought liquidity amid these concerns, credit card originations rose 13.8% YoY, although average credit limits on new cards issued fell 9.8% YoY. Outstanding balances increased 7.7% YoY, and average balances per card were up 2.6% YoY. The risk mix of card originations shifted towards higher risk borrowers: subprime consumers comprised 58.3% of new cards opened in Q3 2025, up from 52.4% a year earlier, while the share held by prime and above borrowers declined.
Lower credit limits on new cards likely reflect lenders’ efforts to manage affordability and mitigate risk exposure, even as originations skewed toward higher-risk borrowers.
Account-level delinquency increased to 12.7%. This, along with a heavier subprime mix, stable balances, and lower credit lines suggests that lenders have deliberately shifted their focus to riskier borrowers to fuel growth.
Consumers also managed their financial obligations by taking out additional credit. This was evident in the Q3 2025 TransUnion Consumer Pulse Report which found that nearly one third (30%) of surveyed consumers stated that they took an additional credit product to pay off an existing credit product during the quarter.
“While lenders seek growth, they are simultaneously tightening credit lines and deploying early interventions to protect portfolio quality,” said Hatea. “Dynamic credit line strategies and early interventions are key. Expanding pre-delinquency outreach and offering short-term hardship solutions can prevent roll-through into missed payments beyond three months, especially for subprime consumers carrying larger balances.”
Bank and Non-Bank Personal Loan Trends Diverged Further
Differences in growth and risk patterns between bank and non-bank lenders widened in Q3 2025. Banks expanded cautiously, focusing on larger, purposeful loans, while non-bank lenders grew through smaller, short-term loans aimed at higher-risk segments. These shifts reflect differing consumer targeting strategies of the two lender groups and increasing affordability pressures on higher-risk borrowers.
Bank-issued personal loan originations rose 7.6% YoY, with average new loan amounts up 9.3% YoY, reinforcing a trend toward larger loans for purposeful borrowing. However, the number of consumers carrying a personal loan balance fell 3.6% from the previous quarter, suggesting loan consolidation and/or repayment by borrowers. Account-level delinquency reached 28.1%, indicating repayment strain despite banks’ disciplined approach to growth and proactive measures to manage long-term defaults.
Non-bank personal loan originations rose 8.5% YoY, but average new personal loan amounts fell by the same margin of 8.5%. Average balances per account dropped 31.9% YoY, showing that these loans are increasingly used for short-term or emergency needs rather than financing larger purchases or debt consolidation. Risk indicators deteriorated sharply: account-level delinquencies surged upwards to 49.4%, highlighting rising financial stress among non-bank personal loan borrowers, compounded by a greater concentration of subprime consumers.
“Personal loan lenders need to balance access with sustainability,” said Hatea. “Stronger affordability checks and better early warning systems can prevent roll-through into deeper delinquency. Proactive engagement with at-risk consumers and tailored hardship solutions will help preserve portfolio health while maintaining access to credit.”
Table 1: Key South African Credit Market Metrics (Q3 2025 vs Q3 2024)
|
Product |
YoY origination growth |
Serious account-level delinquency rate* |
| Credit card |
13.80% |
12.70% |
| Bank personal loan |
7.60% |
28.10% |
| Non-bank personal loan |
8.50% |
49.40% |
| Clothing accounts |
9.85% |
25.60% |
| Retail instalment |
-1.45% |
27.40% |
| Retail revolving |
5.20% |
17.90% |
| Home loans |
10.68% |
7.60% |
| Vehicle finance |
17.20% |
7.20% |
*Account-level serious delinquency rate, measured as a percentage of accounts three or more months in arrears
With an improving macroeconomic environment, driven by moderating inflation and associated interest rate cuts, continued shifts in the consumer credit market are to be expected. However, Hatea concluded: “Even though there are cautious signs of improvement, lenders and policymakers must remain agile when balancing growth with resilience. Refining segmentation strategies and enhancing early risk detection will be key to supporting consumer financial health and maintaining long-term portfolio stability.”
[1] Trading Economics South Africa Unemployment Rate
[2] Scores are based on TransUnion’s CreditVision® generic scoring methodology. Risk distribution key: subprime (0-625), near prime (626-655), prime (656-695), prime plus (696-720), super prime (721-999).
Mukuru (www.Mukuru.com), a leading next-generation financial services platform, has partnered with Travelex, a market leader in foreign exchange services, to expand cash payout options for remittance customers across South Africa. The partnership reinforces Mukuru's capabilities to provide accessible, safe, and convenient services to millions of customers who depend on remittances for daily needs.
Positioned as a strategic alliance that will enhance reach to more customers, the partnership introduces Travelex as an additional payout channel within the Mukuru network. Customers can now access funds at any of Travelex's 46 nationwide branches, strategically located in high-traffic, easily accessible areas. This wider footprint reduces travel time, eliminates traffic congestion, and ensures access to cash.
South Africa's Bureau de Change (BdC) sector has a strong regulatory environment that supports this collaboration. The BdC framework ensures that payout networks are secure and reliable. BdC operators such as Travelex are supported by robust liquidity and strict compliance standards, ensuring that transactions are conducted securely and in line with national regulations. Additionally, on-site know-your-customer (KYC) processes safeguard customers and build trust.
For customers, the advantages of the partnership include access through an expanded branch network and speed and efficiency via reliable access to cash in trusted locations. Furthermore, the agreement reduces Mukuru's reliance on single-channel payout solutions and can help build a more resilient and diversified ecosystem.
“Mukuru has always focused on creating impactful financial solutions to improve our customers' lives,” said Yemurai Chatapura, Commercial Manager – Remittances at Mukuru. “This partnership extends that reach while upholding high standards of security, compliance, and service. The collaboration strengthens our payout network and commitment to accessible, inclusive financial services across South Africa.”
Marlize Van Der Schyff, Financial Director at Travelex, added, “Tourvest Financial Services t/a Travelex is excited to partner with Mukuru as we continue expanding our service offering. This partnership represents a natural alignment of strengths between our organisations. Together, we'll bring customers a more powerful, seamless, and future-ready experience.”
This collaboration highlights Mukuru's commitment to providing access to affordable financial services, especially for those sectors that rely on remittance inflows. With operations in over 50 countries and a growing customer base of millions, Mukuru is well-positioned for continued growth and expansion across the continent.
Distributed by APO Group on behalf of Mukuru.
Media Contact:
Rhett Delaney
rhett.delaney@mukuru.com
About Mukuru:
Mukuru is a leading next-generation financial services platform serving over 17 million customers across Africa, Asia and Europe. With more than 100 million transactions processed across 570+ corridors, Mukuru leverages technology to provide affordable, accessible financial services via both physical and digital channels. Recognised six times in the FXC Intelligence Top 100 Cross- Border Payment Companies, Mukuru is also an award-winning employer and innovation leader.
To learn more about Mukuru, visit www.Mukuru.com.
About Travelex:
Tourvest Financial Services, trading as Travelex, operates 53 branches across South Africa, including flagship locations at OR Tambo and Cape Town International Airports, providing comprehensive foreign exchange solutions to residents, foreign nationals, visitors and corporates. The company buys and sells 24 different currencies, offers foreign cash and secure multi-currency Cash Passport travel cards linked to Mastercard, supports international money remittances through Western Union and now Mukuru, and facilitates telegraphic transfers for travel-related land arrangements such as hotels, tours and transfers. As a SARB-licensed Authorised Dealer with Limited Authority, Tourvest is recognised for its strong focus on security, people, technology and service excellence, delivering convenient, safe and reliable currency solutions for modern travellers.
To learn more about Travelex, visit https://www.Travelex.co.za/
Global LNG supply is set to surge from 2027, driven by new projects and expanded production in the U.S. and Qatar. Bloomberg's Global LNG Market Outlook 2030 forecasts global supply reaching 594 million tons by 2030 – a 42% increase from 2024 – with a projected 15-million-ton oversupply in international markets. While geopolitical risks and potential project delays could shift this balance, the prospect of sustained LNG surplus poses a critical question for Africa: how can the continent strengthen domestic gas value chains to shield itself from global market volatility?
Rising African Demand Constrained by Infrastructure
Africa's natural gas production is rising, with several new LNG projects coming online across the continent. North Africa currently produces two-thirds of the continent's gas, but the African Energy Chamber's (AEC) State of African Energy 2026 Outlook projects this share falling to 40% by 2035 as sub-Saharan output accelerates. By 2050, sub-Saharan LNG supply could quadruple, while African gas demand is expected to grow 60%, from 55 billion cubic meters (bcm) in 2020 to 90 bcm.
Despite this growing demand, most gas continues to be exported. The primary bottleneck is infrastructure: limited pipeline networks, underdeveloped transmission systems and insufficient processing and storage prevent gas from reaching domestic markets. As a result, LNG exports remain the most viable monetization route, backed by international offtake contracts and financing structures. Financing constraints further exacerbate the challenge, as domestic infrastructure projects require patient capital, government support and credit enhancements, which are often easier to secure for export-focused LNG developments. Addressing this imbalance will demand an infrastructure-led strategy that aligns production with domestic pipelines, power generation and regional interconnections.
New Projects Signal Momentum
Recent developments suggest positive momentum toward a more integrated African gas economy. In the LNG sector, countries are constructing terminals to support domestic and regional access, including projects at Richards Bay in South Africa and the Port of Nador in Morocco. Earlier this month, Ethiopia signed a landmark agreement to advance the Gas-by-Rail Economic Corridor Initiative, a 75,000-km freight railway system designed to carry LNG to more than 40 sub-Saharan nations, providing direct pathways to high-demand markets.
Cross-border and power generation infrastructure is also expanding. Several major pipeline projects are underway, including the $25 billion Nigeria-Morocco Gas Pipeline traversing 13 West African states, the Trans-Saharan Gas Pipeline connecting Nigeria to Algeria, and the $1.5 billion Mozambique-Zambia pipeline announced in 2025. Senegal is developing a multi-phase gas network linking offshore production to power plants, industrial zones and urban areas, while Ghana plans five multi-purpose petrochemical plants, each producing 90,000 barrels per day of chemicals such as fertilizers and lubricants to support industrial and agricultural sectors.
A continental push toward gas-to-power is increasingly evident, supported by policy reform and efforts to expand electricity access. The AEC outlook projects natural gas supplying 45% of Africa's power by 2050. Countries including Nigeria, South Africa, Angola, Senegal, Ghana and Mozambique have integrated gas-to-power goals into national strategies, aiming to translate rising gas production into reliable electricity, cleaner cooking solutions, and broad-based economic growth.
“Export projects alone will not secure Africa's energy future. Strategic investment in gas infrastructure is what will determine whether rising production translates into electricity access, industrial capacity, and economic resilience,” states NJ Ayuk, Executive Chairman, AEC.
With domestic gas demand rising, infrastructure projects underway and export markets becoming increasingly competitive, African Energy Week 2026 offers a strategic forum to reposition gas not merely as an export commodity, but as a foundation for long-term energy security, industrial development and inclusive growth across the continent.
Distributed by APO Group on behalf of African Energy Chamber.
If there’s one thing 2025 made abundantly clear, it’s that South Africa’s property market is nothing if not resilient. In a year marked by ongoing global uncertainty, careful consumer spending, and a tentatively recovering economy, the local property landscape found ways to move forward – even if not always in a straight line. “We’ve weathered …
Global information and insights company TransUnion (NYSE:TRU) has once again been recognised as a Top Employer in Africa by the Top Employers Institute (TEI). This marks the fifth consecutive year that TransUnion South Africa has received this prestigious certification, with TransUnion Kenya and the TransUnion Global Capability Centre (GCC) Africa being honoured for the third consecutive year.
"Leading TransUnion Africa across eight countries has taught us that true transformation happens when we invest in people first. Our commitment to solving problems that matter has delivered tangible positive impact. This year we launched a groundbreaking middle manager development programme with Duke Corporate Education for high-performing associates, we advanced financial inclusion initiatives reaching millions across Africa and achieved 55% women representation across our employee base. Additionally, we've strengthened mental health support systems for our teams. The impact on our culture, innovation, relevance, and results is tightly correlated with our investment in making our business a great work environment for our employees and prospective recruits," said Lee Naik, CEO of TransUnion Africa.
Championing Diversity and Inclusion
“TransUnion GCC Africa, a fully virtual employer, has grown to almost 1,000 employees in just under four years. The TEI certification acknowledges our commitment to excellence in every aspect of our operations. We have built a highly skilled and motivated team by continuing to invest significantly in our people through initiatives such as sponsored education and learnerships. To date, we’ve spent R12+ million on sponsored education and external training, and had 278 learners go through our learnership programme — 55% were female, 68% have either been absorbed into full time employment or are currently finishing the programme. This creates career growth opportunities while supporting our mission to deliver premium experiences for TransUnion’s clients and consumers in 30+ countries," said Shobana Maikoo, Head of the GCC Africa.
Benchmarking Excellence in HR Practices
The Top Employers Institute programme certifies organisations based on the participation and results of their HR Best Practices Survey. This survey covers six HR domains consisting of 20 topics including People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity & Inclusion, Wellbeing and more. TransUnion's consistent recognition by TEI reflects its commitment to excellence and continuous improvement in HR practices.
The programme has certified and recognised only 2,400 Top Employers in 125 countries/regions across five continents.
Global information and insights company TransUnion Africa is pleased to announce the appointment of Lindani Dube as Chief Human Resources Officer and Vice President of TransUnion Africa, leading TransUnion’s operations across Africa, effective 6 January 2025.
Dube brings over 20 years of experience driving growth, HR effectiveness, and cultural transformation for multinational organisations across Sub-Sahara Africa, East and West Africa, and Europe. Her strategic leadership, combined with her passion for people development, positions her as a dynamic force in spearheading innovation and growth at TransUnion in Africa.
In her new role, Dube will oversee all HR functions across TransUnion’s Africa-based markets and centres, including GCC Africa, ensuring alignment with the organisation’s vision and business goals.
In her distinguished career, Dube has held executive HR roles at LafargeHolcim, MultiChoice, General Electric, Worley Parsons, and Howden Africa Holdings. She has led essential cultural transformation initiatives, significantly improved organisational performance, and championed diversity, equity, and inclusion programmes. Notably, her strategic acumen has delivered measurable results, including optimising workforce structures, negotiating impactful agreements, and driving business efficiencies.
Lee Naik, CEO of TransUnion Africa, commented: “Lindani is an extraordinary leader with a proven track record of aligning HR strategies to business outcomes. Her innovative approach to unlocking talent and driving cultural transformation will undoubtedly elevate TransUnion’s mission of delivering ‘Information for Good.’ We look forward to the energy and expertise she will bring to our teams across Africa.”
Dube is equally enthusiastic about her new role, saying: “I am excited to join an organisation that prioritises growth, innovation, and people development. I look forward to contributing to TransUnion’s vision by driving impactful HR strategies that build a culture of excellence, inclusion, and empowerment.”
Dube holds a Master’s in Business Leadership (Strategic HR Management) from UNISA School of Business Leadership and a postgraduate business management diploma. She is an accredited coach and an active member of professional bodies, including the Institute of Directors South Africa (IoDSA).
The latest TransUnion South Africa Vehicle Pricing Index (VPI) for Q4 2024 reveals a cautiously optimistic outlook for the country’s automotive sector, with improving economic conditions encouraging consumer confidence while affordability challenges continue to shape purchasing decisions.
Key insights from the report indicate a continued shift towards used vehicles, with financing for pre-owned vehicles outpacing new car financing at a ratio of 1.56 to 1, up from 1.23 in Q4 2023. Meanwhile, new vehicle prices increased by 1.7% due to supply chain constraints and production costs, while used vehicle prices declined by 2.8%, making them a more attractive option for cost-conscious buyers.
Despite these challenges, new vehicle finance agreements grew by 12.7% year-over-year (YoY), with Gen X and Millennials accounting for 67% of new agreements*.
“South Africa’s automotive sector is navigating a complex landscape, balancing economic improvements with persistent affordability challenges,” says Marcia Mayaba, Sales Vice President, Auto Information Services at TransUnion South Africa. “The demand for used vehicles continues to grow, while we’re also seeing an increasing shift towards alternative financing and ownership models, such as leasing and car subscriptions, particularly among younger consumers.”
Used Vehicles Dominate, While New Car Market Seeks Stability
The Q4 2024 VPI report highlights a strong preference for used vehicles, with financing activity significantly outpacing new vehicle sales. This shift is largely driven by affordability concerns, as inflationary pressures and high vehicle prices continue to impact consumer purchasing decisions.
The used-to-new financing ratio increased to 1.56 in Q4 2024, reflecting a clear trend toward more budget-friendly alternatives. At the same time, new vehicle registrations grew by 14.4% YoY, supported by improved economic conditions and rising consumer confidence.
The Future of South Africa’s Auto Market: EV Growth and Digital Financing
Looking ahead, the report highlights the rising potential of electric vehicles (EVs) in South Africa, signalling a significant shift in consumer interest and market dynamics. The country reached a milestone of over 1,000 battery electric vehicle (BEV) sales in 2024, a small but significant step in a market still dominated by petrol and diesel vehicles. While EVs represent a fraction of total sales, the 60% year-over-year growth in hybrid (HEV) and plug-in hybrid (PHEV) sales signals a gradual shift in consumer interest toward more sustainable options.
The introduction of more affordable EV models priced under R1 million, such as the BYD Dolphin and Seal, is expected to accelerate adoption in 2025, making EV ownership more accessible to a broader segment of the market. However, affordability remains a key barrier, with high upfront costs and concerns around charging infrastructure limiting mainstream adoption.
“EV adoption in South Africa is gaining momentum, but for this growth to be sustained, industry players must collaborate to make ownership more accessible," says Mayaba. "With the right financial products, infrastructure expansion, and increased consumer awareness, EVs have the potential to reshape South Africa’s automotive landscape in the years to come.”
Financing Trends and Alternative Ownership Models Gain Momentum
The report also reveals an evolving vehicle financing landscape, with leasing, subscriptions, and rent-to-buy agreements gaining traction as consumers seek more flexible and cost-effective solutions.
For the first time, the Q4 2024 VPI report explores the impact of e-Hailing, leasing, and car subscriptions on the South African auto market. While outright vehicle ownership remains dominant, alternative mobility solutions are becoming increasingly relevant. The report indicates that leasing and subscription-based models are particularly appealing to Millennials and Gen Z consumers, who prioritise affordability and flexibility over long-term ownership commitments.
Additionally, e-Hailing continues to serve as a supplementary transport solution rather than a direct competitor to vehicle ownership. According to recent data from inDrive, an international ride-hailing service, 21.1% of South Africans make us of e-hailing services, reflecting the growing popularity of these transportation alternatives. However, the majority of users still aspire to own a vehicle in the long term. To address affordability constraints and credit access challenges, leasing and rent-to-buy options are emerging as viable alternatives, offering consumers flexible solutions that align with their financial situations.
While lower-value finance agreements (under R250,000) declined, a growing share of financed vehicles now falls within the R250,000 to R750,000 range. This shift suggests that while affordability remains a concern, consumers are prioritising flexible financing solutions and adjusting their purchasing behaviour to align with available credit and economic conditions
“The traditional model of vehicle ownership is evolving,” adds Mayaba. “While outright ownership remains a key aspiration, younger generations are increasingly exploring flexible mobility solutions that align with their financial realities and lifestyle preferences.”
As South Africa’s automotive sector continues to evolve, the interplay between affordability, alternative financing models, and emerging technologies like EVs will shape its future. While used vehicles remain the preferred choice for many consumers, the growth in digital financing and the introduction of more accessible EV models signal an industry on the brink of transformation. Collaboration among industry players, financial institutions, and policymakers will be key to ensuring sustainable growth and greater accessibility for all consumers. With the right innovations and strategies, the sector is well-positioned to adapt to changing market dynamics and drive long-term success.
Read the latest TransUnion VPI Q4 2024 report here.
ENDS
Notes to Editors:
* Gen X (born 1965-1980), Millennials (born 1981-1996) and Gen Z (born 1997-2012)
The TransUnion South Africa Vehicle Pricing Index (VPI) tracks vehicle pricing trends across new and used markets, integrating data from SACRRA and industry-leading sources.
For more information, visit: www.transunion.co.za
According to TransUnion’s (NYSE:TRU) Q4 2024 South Africa Industry Insights Report, the country’s credit card issuers have adapted their acquisition strategies to enable prudent growth, while effective risk management has led to a decline in account-level delinquencies. During Q4 2024, credit card issuers reduced the average credit card limit on new accounts by 3.9% year-over-year (YoY), while at the same time they increased credit limits on existing credit cards[1] by 5.0%.
The limit increase observations were prominent among prime plus consumers (+4.1% average credit limit increase) and super prime[2] consumers (+1.8%). As a result of higher line access and consumers continuing to leverage credit cards to meet financial and transactional needs, total outstanding balances rose by 7.8% YoY. These insights are echoed in TransUnion South Africa’s Q4 2024 Consumer Pulse Report, where 13% of consumers responded that they had increased their usage of available credit.
An improving performance picture, as observed since Q2 2022, continued as delinquencies (measured as accounts 90 days or more past due) decreased by 34 basis points (bps) YoY during Q4 2024. This trend shows that South African consumers have been able to maintain their credit card payment obligations, while leveraging their cards to navigate the continued high cost of living that has put pressure on disposable income.
“Lenders who are sustaining growth and profitability are drawing on enhanced risk attributes to stimulate a greater share of spend and wallet by identifying consumers who are likely to use credit lines judiciously,” said Lee Naik, CEO of TransUnion Africa. “At a time when new account acquisition is costly, enabling lower-risk consumers to re-engage with their inactive cards, or to extend the use of existing cards, will encourage prudent growth and enable customer loyalty.”
Personal loan lenders target younger borrowers
While personal loan originations from traditional banks declined by 6.2% YoY in Q4 2024, personal loan originations from non-bank lenders increased by 13.9% YoY. Non-bank personal loan originations among Gen Z[3] consumers grew by 48.5% YoY, with this cohort accounting for 15.5% of all non-bank originations.
Non-bank personal loan originations increased YoY across all risk tiers (except for the super prime risk tier, where originations declined by a marginal 1.0% YoY), with the greatest increase seen among prime borrowers (16.1%). However, bank personal loans declined across all risk tiers YoY, except for subprime, where they increased by 6.0% YoY.
Banks are expanding their personal loan offerings to a greater proportion of subprime borrowers. Among bank personal loans, the share of subprime borrowers increased from 53% in Q4 2023 to 58% in Q4 2024, with the share of near prime borrowers remaining consistent across the year. There were minimal YoY fluctuations across the remaining risk tiers. In contrast, the distribution across risk tiers for non-bank personal loans remained consistent over the last two quarters of 2024.
The personal loans market continues to be dominated by younger borrowers, although the total share of originations by borrowers aged 45 and younger did decline marginally in 2024. Seventy-five percent of bank personal loans were granted to Gen X and Millennial customers during Q4 2024, down from 78% one year prior, while 70% of non-bank personal loans were granted to the same age group in Q4 2024, compared to 72% one year prior. At the same time, both lender types are growing their portfolio among the youngest Gen Z borrower group, with 19% of bank personal loans going to Gen Z borrowers in Q4 2024, up from 16% one year prior, and 16% of non-bank personal loans going to these consumers in Q4 2024, up from 12% one year prior.
With respect to credit performance, bank personal loan account-level delinquencies at 90+ days past due dropped by eight bps YoY to 26.6%, while non-bank personal loan delinquencies increased by 452 bps to 40.6%.
“Non-bank personal lenders have a more tolerant risk appetite than banks, and they are responding positively to market demand across age groups and risk tiers,” says Naik. “Lenders that maintain rigorous risk assessment practices that enable greater and earlier prediction of risk, offer education on how to use and manage credit, and empower younger consumers to build their credit profiles, will ensure the continued sustainability of the personal loan market.”
Vehicle loan market continued its recovery path
The vehicle loans market showed encouraging signs of continued growth, as origination volumes increased by 9.6% YoY, and average new loan amounts grew by 1.4%. The greatest growth in originations was observed among Gen Z consumers, where originations grew by 27.9%, although their share of total new finance agreements remains relatively low compared to older age groups. This is the second consecutive quarter in which total vehicle loan originations grew YoY, with the last increase in origination volumes before these two increases having been in Q3 2022. Given the 0.25 bps decrease in interest rates as of November 2024 and a positive outlook for consumer confidence, the vehicle loan market is expected to continue this recovery trend.
These positive trends were also evident in the Q4 2024 TransUnion South Africa Vehicle Pricing Index, that revealed a growing share of financed vehicles within the R250,000 to R750,000 price range. This shift suggests that, while affordability may still be a concern, consumers are prioritising flexible financing solutions and adjusting their purchasing behaviour to align with available credit and economic conditions.
“While the two recent interest rate decreases were just 25 basis points each, the significant increase in new vehicle loan originations indicates that South Africans are becoming more optimistic about their financial futures,” says Naik. “While vehicle ownership is aspirational for many individuals, it’s also the key to unlocking growth for entrepreneurs, and the owners of micro and small enterprises, all of whom are the engines of economic growth in South Africa.
“As part of our drive to expand financial inclusion, TransUnion has included a wide range of alternative data into our scoring solutions, so that more South Africans are more visible in our risk scoring models, in turn creating the platform for them to access finance for the first time.”
Table 1: Key South African Credit Market Metrics (Q4 2024 vs Q4 2023)
|
Product |
YoY origination growth |
Serious account-level delinquency rate* |
YoY basis points (bps) change in delinquency rate |
| Credit card |
5.6% |
12.0% |
-33 bps |
| Bank personal loan |
-6.2% |
26.6% |
-8 bps |
| Non-bank personal loan |
13.9% |
40.6% |
452 bps |
| Clothing accounts |
-4.0% |
26.4% |
-143 bps |
| Retail instalment |
14.9% |
27.5% |
-204 bps |
| Retail revolving |
11.9% |
14.5% |
-500 bps |
| Home loans |
-13.2% |
7.1% |
26 bps |
| Vehicle finance |
9.6%% |
4.8% |
13 bps |
South African consumers continue to adapt to a fluctuating economic environment, with TransUnion’s Q1 2025 Consumer Pulse study[1] revealing key trends in household financial management, credit activity and vehicle financing. Amid ongoing financial pressures, a significant increase in intended hybrid vehicle financing highlights evolving consumer preferences.
“Despite the challenges posed by inflation and economic uncertainty, South Africans continue to show resilience in managing their finances,” said Ayesha Hatea, Director of Research and Consulting at TransUnion. “We are seeing notable shifts toward more purposeful financial planning, credit management and strategic spending. While economic pressures remain, consumers are finding ways to balance credit usage, savings, and debt repayments more effectively.”
Economic Concerns and Credit Usage Trends
The report highlights consumers’ ongoing financial concerns, with 42% of respondents stating that their household income is not keeping up with inflation, despite inflation being at the lower end of the Reserve Bank’s target range[2]. These ongoing concerns could be because 40% of consumers said their income stayed the same in the past three months, while 22% reported it decreased.
“With more than six in ten South Africans reporting no increase in their income, it’s clear to see why consumers are trying to find new ways to manage their financial commitments, including taking on more credit, and different types of credit, for key purchases,” said Hatea.
The survey data reveals that 37% of respondents plan to apply for new or refinance existing credit within the next year, with 52% of all those surveyed saying they’ve used Buy Now, Pay Later services in the past 12 months.
Amid ongoing concerns about a recession, consumers indicated that they are actively taking steps to prepare. Among those who said they think South Africa is currently in a recession or will be in one by the end of Q1, the most respondents (59%) said they’re preparing for a possible recession by reducing spending followed by 58% building up their savings and 35% prioritising paying down debt.
Debt Repayments and Savings Trends
The data also reveals shifting trends in debt repayments and savings. A worrying trend is that 38% of respondents in Q1 2025 said they’ll be unable to pay at least one of their current bills and loans in full, up from 35% in Q4 2024.
Among those who said they’ll be unable to pay, 34% reported they plan on paying partial amounts they can afford but not the whole balance, while 25% said they’ll dip into their savings to help pay their current bills and loans. A further 20% of consumers aim to borrow money from friends or family members to meet their payment commitments. Additionally, 35% of those surveyed are looking to take on temporary or gig work.
“Managing debt effectively while maintaining savings is a key challenge for many South Africans,” said Hatea. “Consumers who are struggling to meet their payment commitments should engage with their lenders to potentially renegotiate current payment terms. Lenders do not want consumers to default on their debts, and they are often willing to discuss available options with the intention of creating prudent, sustainable financial solutions.”
Hybrid Vehicle Financing Expected to Increase
Of particular interest in the Q1 2025 study is the finding that 36% of consumers planning a new vehicle loan or lease within the next year would consider hybrid vehicles, while 25% would consider an electric vehicle. In comparison, 32% preferred traditional internal combustion engine vehicles, making hybrid cars the top consideration for new vehicle loans or leases among those surveyed.
The latest TransUnion Vehicle Pricing Index (VPI) reflects this trend, with the anticipated introduction of more affordable EVs priced under R1 million expected to accelerate their adoption in 2025, thanks to broadening consumer options in the hybrid and EV market.
“This trend highlights how consumers are adapting to broader economic and environmental changes,” said Hatea. “Hybrid vehicles are becoming more accessible, and their appeal extends beyond cost savings to include long-term benefits such as reduced environmental impact and lower running costs. As this market continues to evolve, we anticipate sustained growth in consumer interest and adoption.”
Fraud Concerns
The study highlights that nearly one in three respondents (31%) check their credit reports monthly, with 54% of those who said they monitor their credit doing so to try and improve their credit score. This indicates an awareness of the importance of credit health management.
A smaller 34% of credit monitoring consumers said they check their credit reports to protect against fraudulent activity. More than half (51%) of all those surveyed reported being targeted by email, online, phone call or text messaging fraud in the last three months but not falling victim, emphasising the importance of heightened security awareness.
Among the most common fraud schemes reported by those who said they were targeted were money/ gift card scam (33%), smishing (33%), phishing (32%) and third-party seller scams on legitimate online retail websites (31%), emphasising the urgency for consumers to remain vigilant.
“With digital transactions and online banking becoming standard, financial institutions are urged to implement stronger fraud prevention measures, while consumers are encouraged to monitor their credit activity and adopt safer financial practices,” said Hatea.
Adapting to Improve Credit Health
In response to ongoing financial pressures, South African consumers are making strategic adjustments to their household budgets. In the past three months, 52% said they have cut back on discretionary spending such as dining out, travel and entertainment, with 43% of them reporting scaling back on large purchases like furniture, appliances and cars. This cautious approach highlights a continued emphasis on financial resilience and long-term stability.
“Our findings show that South Africans are taking a more proactive approach to managing their finances amid economic uncertainty,” said Hatea. “While financial pressures persist, consumers are prioritising essential spending, reducing discretionary expenses, and making thoughtful financial decisions to maintain stability. Providing them with the right tools, education and financial products will be crucial in supporting their financial well-being in the months ahead.”
The Reserve Bank’s decision to reduce the repo rate by 0.25% to 7.5% this January, with no change in March[3], aims to support economic growth and ease borrowing costs for consumers. This adjustment, coupled with improved inflation expectations, is expected to provide further relief to consumers and stimulate economic activity.
As economic conditions evolve, businesses, financial institutions, and policymakers will need to align with these shifting behaviours, offering solutions that promote financial inclusion, long-term stability, and economic growth.
Consumers can get their free annual credit report from TransUnion here.
[1] Q1 2025 South African Consumer Pulse Study was a survey of 950 South African adults from Feb. 10 to 24, 2025.
[2] Inflation Targeting Framework
[3]: repo rate by 0.25% in January to 7.5%: Current Market Rates
As financial awareness continues to grow across South Africa, new insights from TransUnion’s Q1 2025 Consumer Pulse Study reveal encouraging signs that more consumers are actively taking control of their credit health.
According to the Consumer Pulse Study, nearly one in three South Africans (31%) check their credit reports on a monthly basis, a significant step in the right direction. More than half (54%) of those who check their reports do so with the intention of improving their credit scores, showing a shift toward long-term financial empowerment.
“We’re seeing a rise not only in credit awareness, but in the importance of checking and understanding your credit report, which is an incredibly positive sign,” says Fatgie Adams, Head of Credit Risk Solutions at TransUnion Africa. “Knowing your credit report and credit score is one of the simplest yet most powerful ways to take control of your financial future. It opens the door to better lending rates, protects against fraud, and supports better decision-making.”
A deeper understanding of how to read the data on your credit report is also essential. A credit report provides a snapshot of your credit activity and how lenders perceive your creditworthiness. It typically includes information like:
By learning to read this data, consumers can spot potential errors, identify areas for improvement, and gain insights into how their credit management practices impact their scores. Understanding these elements not only helps improve your score but also boosts your financial confidence when applying for loans or credit.
While this progress is encouraging, the study also highlighted opportunities for deeper financial vigilance. Only 34% of consumers currently check their credit reports as a means of fraud prevention. Notably, although 50% of respondents reported being targeted by scams or fraud in the past three months, but did not fall victim, indicating a promising increase in consumer awareness and resilience
With 37% of South Africans planning to apply for new or refinanced credit in the next 12 months, understanding one’s credit standing and how to interpret the information on your credit report becomes even more crucial, particularly in today’s challenging economic climate.
“We encourage consumers to make credit report checks part of their regular financial routine,” adds Adams. “It takes just a few minutes and it’s one of the most effective tools for staying financially fit and fraud aware.”
Quick Tips for a Healthier Credit Score
To check your credit score for free and learn more, visit www.transunion.co.za.
Fynd (www.Fynd.com), an AI-native retail technology platform backed by Reliance Retail Ventures Limited, today announced its official expansion into South Africa, onboarding Surtee Group - one of the region's most established luxury and fashion retailers - as its first strategic customer in the market. This milestone marks a pivotal moment for African retail, as legacy brands begin embracing digital transformation to meet the demands of a rapidly evolving consumer landscape.
Fynd's entry into Africa reflects its commitment to enabling digital transformation in high-growth retail markets worldwide. The move also comes at a turning point when South Africa's e-commerce sector is projected to exceed R130 billion ($7.48 billion) in 2025, capturing nearly 10% of total retail sales - a fourfold increase since 2020.
According to Statista, South Africa is expected to have 11.7 million e-commerce users in 2025, with projections reaching 21.5 million by 2029. This growth is being driven by rising internet penetration, mobile-first shopping behaviour, and increasing trust in digital platforms. To meet rising consumer expectations, businesses are investing in AI and unified commerce platforms. Fynd's scalable, AI-native stack is built to support this shift, enabling agility, personalisation, and operational efficiency.
“South Africa's retail landscape is evolving fast,” said Ronak Modi, Chief Business Officer - Global at Fynd. “Consumers expect seamless, personalised experiences across every channel, and retailers need agile, intelligent infrastructure to keep up. Our platform is built to unify disconnected systems, speed up fulfilment, and elevate customer engagement; all without adding operational complexity.”
“South Africa is an exciting addition to our global footprint. The market is digitally ambitious, brand-forward, and ready for intelligent commerce infrastructure. Our goal is to help local retailers unify siloed systems, personalise engagement, and accelerate fulfilment without adding complexity.”
Surtee Group operates 94 boutiques and 2 e-commerce sites, comprising the multi-branded stores Levisons and the mono-brand boutiques, namely, Giorgio Armani, Michael Kors, Lacoste, Hugo Boss, VERSACE, TOD'S, Salvatore Ferragamo, Versace Jeans Couture, Emporio Armani, Burberry, Jimmy Choo, Luminance, Paul Smith, Coach, and Armani Exchange. They will implement Fynd's unified commerce stack, including Storefronts, Order Management System (OMS), Warehouse Management System (WMS), and Clienteling tools to connect in-store and online operations, streamline inventory visibility, and launch brand-specific ecommerce storefronts across its brand portfolio.
While online retail continues to surge, offline sales still represent the vast majority of revenue for retailers in the country. Fynd will enable Surtee Group to unify its offline inventory online, power ship-from-store capabilities, and improve both margins and sell-throughs. Additionally, products like Clienteling will empower in-store teams to engage customers better and drive incremental sales through personalised recommendations and seamless omnichannel experiences.
Fynd's entry into the market is designed to meet this demand. Its AI-native platform enables real-time stock visibility, ship-from-store capabilities, dark store orchestration, and intelligent customer engagement all within a single scalable solution.
As part of its digital transformation roadmap, Surtee Group aims to consolidate its leadership in luxury and fashion retail while expanding into e-commerce and improving omnichannel agility.
“We were looking for a partner who understood both the technical and strategic dimensions of unified commerce,” said a Surtee Group spokesperson. “Fynd stood out for their proven scalability, consultative approach, and deep experience with global fashion brands, many of which align with our portfolio. Their unified stack enables us to modernise operations while building a connected, brand-first customer experience.”
Fynd has already scaled across India, the GCC, and Southeast Asia, and now adds Africa to its regional presence. With Surtee Group leading the transformation, Fynd is positioned to play a key role in powering unified commerce adoption across South Africa's growing digital economy.
Distributed by APO Group on behalf of GoFynd.
About Fynd:
Fynd is an AI-native retail technology company headquartered in Mumbai, India. It serves over 20,000+ stores and 300+ enterprise retailers and offers a modular commerce stack that unifies in-store, online, and logistics operations. Backed by Reliance Retail Ventures Limited, Fynd is expanding across the GCC, Africa, and Southeast Asia to power next-generation retail experiences. For more information, visit www.Fynd.com
About Surtee Group:
Surtee Group is one of South Africa's most distinguished luxury fashion retailers. Guided by more than 29 years of family expertise in the retail industry, the Group operates 94 boutiques and two e-commerce platforms, featuring prestigious brands such as Giorgio Armani, Michael Kors, Lacoste, Hugo Boss, Versace, etc. Strategically located in South Africa's premier shopping destinations—including Sandton City, Hyde Park Corner, Mall of Africa, Menlyn Mall, V&A Waterfront, and OR Tambo International Airport Duty Free—the boutiques cater to both affluent local clientele and a growing base of international visitors.
United by a vision to elevate fashion retail, The Surtee Group continues to craft exceptional experiences rooted in refinement, innovation, and meticulous attention to detail. For more information, visit: https://www.SurteeGroup.com
The emissions landscape is in a state of flux, with local manufacturers facing rising carbon taxes and first-world economies tightening content controls and restrictions warns Dennis Williams, Commercial Director of steam and boiler operations and maintenance service provider, Associated Energy Services (AES). “The South African government aims to push towards global standards in this space …