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ONE
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South Africans Signal Cautious Confidence as Financial Habits Evolve
- TransUnion’s Q2 2025 Consumer Pulse Study reveals strategic shifts in saving, borrowing, and fraud defence, with younger generations leading the way
- 75% of South Africans expect their income to rise, but nearly 39% anticipate missing at least one bill or loan payment
- 45% of Gen Z and 39% of Millennials plan to apply for credit, leading a shift toward more proactive financial habits
- 58% of consumers were targeted by fraud in Q2, with many responding by strengthening their digital security
South African consumers are responding to ongoing financial pressures with increasing intent and vigilance. While inflation, high interest rates and job market uncertainty continue to weigh on household budgets, the latest TransUnion Consumer Pulse Study for Q2 2025* reveals a population adjusting not just defensively, but proactively. From rethinking spending and saving to becoming more discerning about credit and fraud, South Africans are adopting behaviours that suggest a shift toward long-term financial resilience, especially among younger generations.
“South Africans are showing resilience with purpose,” said Ayesha Hatea, director of research and consulting at TransUnion. “They’re not simply reacting to pressure, they’re taking charge, rebalancing their finances and protecting their future.”
Mixed Incomes, Bold Adjustments
While there are some positive signs, many households are still experiencing fluctuations in their income. In the second quarter, 21% of consumers said their household income had decreased, while 38% reported an increase. A majority of respondents (75%) are hopeful that their earnings will increase in the next year. However, this confidence exists alongside financial challenges, with nearly 39% of consumers reporting that they expect they might miss at least one bill or loan payment in the near future.
This financial pressure is driving noticeable changes in how people manage their money. More than half of consumers (54%) trimmed back on non-essential expenses like dining out, entertainment and travel. Many are also taking steps to strengthen their financial security; 31% paid down debt faster, 24% put more into emergency savings or stokvels and 37% planned to increase their retirement or investment savings.
Generational Differences Define the Shift
While overall behaviours are trending positive, the evolution is not uniform across age groups. Younger consumers, particularly Gen Z (ages 18-28) and Millennials (29-44) are emerging as drivers of this transformation. They are more likely to apply for credit, monitor their credit reports frequently and adopt security tools like multi-factor authentication.
Forty-five percent of Gen Z respondents and 39% of Millennials indicated they plan to apply for or refinance credit in the next year, compared to just 27% of Gen X (45-60) and 15% of Baby Boomers (61+). They are also the most engaged in monitoring their credit monthly and believe that access to alternative data, such as rental or Buy Now Pay Later (BNPL) payment histories, would improve their credit scores.
“Younger South Africans are embracing financial tools with growing confidence,” Hatea added. “They’re more comfortable with digital platforms, increasingly aware of how their financial choices affect their long-term goals, and, as a result, are more proactive about managing their credit.”
Cautious Credit Intent Amid Access Concerns
While 92% of consumers believe access to credit is important to achieving their financial goals, only 36% intend to apply for credit in the coming year, a figure that has remained stable since Q1. This cautious demand reflects continued uncertainty around employment, income and affordability.
Consumers favour unsecured lending, with credit cards (30%), personal loans (28%) and BNPL services (25%) attracting the most interest. Interest in secured lending remains comparatively low, with only 22% planning to apply for vehicle finance and 19% expressing interest in home loans.
Still, barriers remain. Nearly half (48%) of consumers said they had considered applying for credit but ultimately decided not to. The main reasons were income/ employment status (30%), high borrowing costs (29%) and concerns about their credit history (27%). Overall, 45% of consumers believed they would be approved if they applied for credit. While this figure reflects general sentiment, optimism tends to be higher among those who actively monitor their credit, suggesting a link between financial awareness and confidence.
Digital Fraud on the Rise, but So Is Awareness
As digital engagement grows, so does the threat of fraud. In Q2 2025, 58% of South Africans reported being targeted by fraud schemes, a decrease from the previous quarter (61%) with 13% confirming they had fallen victim. The most common scams included gift card or money transfer scams (33%), phishing (31%), smishing (30%) and third-party seller scams (28%).
Consumers are responding with heightened vigilance in response to cyber security concerns. A majority (59%) changed their passwords, 39% checked their credit reports and 25% added multi-factor authentication. Gen Z and Millennials were the most likely to take protective action, a likely result of both their greater exposure to digital platforms and higher awareness of evolving scam tactics. Alarmingly, 21% of consumers said they took no action at all, often citing uncertainty about what to do. This highlights the ongoing need for stronger cybersecurity and fraud education, and accessible protection tools.
“Consumers are trying to keep pace, but the threat landscape is evolving quickly,” said Hatea. “What we need now is a national conversation, one that gives all South Africans the knowledge and resources to protect their identities in a digital-first world.”
A Financial Turning Point
The Q2 2025 Consumer Pulse Study reveals a country making deliberate financial choices in the face of uncertainty. South Africans are shifting from survival mode to a more balanced, future-focused financial mindset. While challenges remain, the direction is clear; consumers are becoming more selective in how they spend, more strategic in how they borrow and more vigilant in how they protect themselves.
“At TransUnion, we believe these shifts represent not just resilience, but growth,” concluded Hatea. “South Africans are taking ownership of their financial journeys and in doing so, they’re laying the groundwork for lasting stability and inclusion.”
Consumers can get their free annual credit report from TransUnion here.
* This online survey of 922 adults was conducted May 5–25, 2025
Week of Terror Against Children in Cape Town
The GOOD Party is heartbroken and outraged by the week of unprecedented violence that has claimed the lives of several children and left others wounded across Cape Town.
The post GOOD PARTY CONDEMNS WEEK OF TERROR AGAINST CHILDREN IN CAPE TOWN appeared first on For Good.
South Africa’s Water, Energy and Food Crisis: Why Fixing One Means Fixing Them All
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Be the Reason: A Movement in Partnership with TransUnion and the International Finance Corporation to Unlock Financial Opportunity for All
TransUnion, a global information and insights company, has launched a bold new campaign, ‘Be the Reason Things Change’, aimed at making financial inclusion a reality for more South Africans. This powerful initiative calls on individuals, communities, businesses, and institutions to join a movement for change, one that ensures every person is seen, supported, and given the tools to participate in the formal financial system.
In a country known for both its beauty and inequality, where access to formal credit remains out of reach for many, ‘Be the Reason Things Change’ seeks to break down the barriers that keep people excluded, by focusing on consumer education, innovation, and community engagement. The campaign is designed to help South Africans take control of their financial futures, regardless of who they are or where they come from, whilst also advocating for businesses to embrace alternative data and innovative scoring solutions to see and serve the unseen. By doing so, they too can empower the disempowered, expanding access and inclusion, and enabling more people to participate meaningfully in the financial ecosystem and live the lives they deserve.
“At TransUnion, we believe in a world where the impossible becomes possible, where the unseen are finally seen, and where every South African deserves the opportunity to participate fully in the economy,” says Lee Naik, CEO TransUnion Africa.
’Be the Reason Things Change’ is more than a campaign slogan; it’s a call to action to take part in building a more inclusive financial system. Through innovative data solutions and consumer education, we aim to spark a national conversation about breaking down barriers in the credit landscape and ensuring financial empowerment is accessible to all. Ultimately, we want more South Africans to be included in the formal financial economy, empowering them to understand how access to credit can transform their lives and enable them to uplift their communities,” says Naik.
Addressing South Africa’s Financial Inclusion Challenge
Many South Africans continue to face obstacles in accessing formal credit and quality financial services. Traditional systems often feel exclusive or out of reach, especially for underserved individuals and small businesses, because they rely heavily on past borrowing behaviour as the primary measure of creditworthiness. According to TransUnion’s CreditVision® Telco Data Score data-modelling, over 1.4 million credit-invisible South Africans open new credit accounts each year, contributing to more than four million new accounts over the past three years*. Yet traditional scoring models frequently fail to assess these consumers accurately, leaving over 16 million adults outside the formal credit system. Successfully integrating these and other excluded consumers into the economy could contribute an estimated R173 billion to South Africa’s GDP.
A significant portion, approximately 35% of new-to-credit consumers are under the age of 25, many entering the workforce for the first time and using credit to cover essentials such as work clothing. This highlights the urgent need for innovative, inclusive tools that better reflect the realities of younger, digitally active individuals who may lack a conventional credit footprint.
TransUnion is shifting the paradigm by embracing alternative data, creating new scoring capabilities, and ensuring that individuals who were once unclassifiable can now be assessed fairly and accurately. Its “Be the Reason Things Change” campaign responds to this need by equipping the public with practical tools, credit education, and the confidence to take charge of their financial futures.
Collaborative Effort with Global Partners
The campaign is supported by the International Finance Corporation (IFC), the private sector arm of the World Bank Group, has played a key role as a technical advisor and promotor of credit information tools in South Africa, reinforcing the global imperative to expand equitable access to financial services.
“We are proud to support TransUnion’s ‘Be the Reason Things Change’ campaign, which aligns closely with our mission to advance inclusive economic development,” says Cláudia Conceição, IFC Regional Director for Southern Africa. “By removing barriers to credit access, this initiative empowers individuals and communities to build financial resilience and unlock economic opportunity, key pillars of long-term social impact.”
This collaboration highlights the value of cross-sector partnerships in tackling systemic financial exclusion, combining local insights with global best practices to deliver scalable solutions.
Empowering Through Education, Innovation, Investment and Africa Firsts
‘Be the Reason Things Change’ will see TransUnion roll out a fully integrated marketing campaign designed to demystify the credit system and empower people from all walks of life. Key pillars of the campaign include:
- A first-ever interactive peelable billboard in Africa, installed at Melrose Arch, located by the entrance off Corlett Drive in Johannesburg.
- A first-ever digital billboard aimed at reaching audiences beyond the Johannesburg area.
- Transformational stories from campaign ambassadors include Springbok rugby stars Makazole Mapimpi and Lukhanyo Am, as well as fashion entrepreneur Tshepo Mohlala
- Springbok, Lukhanyo Am and fashion entrepreneur, Tshepo Mohlala will be launching the campaign at Melrose Arch on 21 August 2025 where they will peel the first layers of the billboard and share their own personal journeys.
- Over R10m valued in sponsorship and investment in e-learning credit courses for over 5,000 South Africans.
- Practical education: Simple, clear resources to help people understand credit scores, manage debt, and make informed financial choices.
- A unique AI-powered digital film piece.
- Innovative Solutions: New offerings to help enable lenders to see consumers previously unseen, empowering consumers to access new credit opportunities
‘Be the Reason Things Change’ is about rewriting the story around credit and creditworthiness,” says Naik. “We want every South African to understand how credit works, what their score means, and how they can maintain and improve it. More importantly, we want them to believe they can be the reason things change.”
Campaign Execution Partners
The campaign was brought to life through a dynamic collaboration with creative agency 1 Over One, who led the conceptual development; local production partner Run Jump Fly, who delivered a unique AI-powered digital film piece, FleishmanHillard South Africa and Capacity Relations who provided strategic PR, media and activation support to amplify the message and ensure meaningful engagement across key audiences.
Join the Movement
TransUnion invites all South Africans to join the movement for financial inclusion. To learn more, participate in the campaign, and access educational resources, visit www.transunion.co.za/bethereason.
Consumers can get their free annual credit report from TransUnion here.
* The three-year period refers to an analysis of the TransUnion Credit Bureau database over the period for January 2022 – December 2025.
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5 Smart Strategies to Manage Debt and Interest Rates in 2025
South Africans are learning to live and thrive in a financially uncertain world. The latest TransUnion Consumer Pulse Study (Q2 2025) shows that while 39% of households expect they may miss at least one bill or loan payment, many are actively reshaping their habits to build financial resilience.
Encouragingly, 31% of consumers are paying down debt faster, 24% are boosting emergency savings, and 37% plan to increase their retirement or investment contributions. These trends suggest that South Africans are not only reacting to pressure, but they are also taking proactive steps to protect their financial futures.
Ayesha Hatea, director of research and consulting at TransUnion South Africa shares some tips and tricks to help you manage debt and interest rates more effectively in 2025:
1. Pay Off High-Interest Debt First
The study highlights that more consumers are accelerating debt repayment and for good reason. Credit cards and personal loans often carry the highest interest rates when looking at consumers with multiple products in their wallet.
“In a high-interest environment, every rand you pay off today saves you from paying more interest tomorrow,” says Hatea
Tip: List your debts and focus on paying off the ones with the highest rates first, while keeping up with minimum payments on the rest.
2. Be Strategic About Borrowing
Access to credit remains crucial. 92% of South Africans believe it’s important for achieving their goals. Yet only 36% intend to apply for credit in the next year, reflecting caution amid high borrowing costs and income uncertainty.
If you do borrow, make it purposeful. The study found that demand is strongest for credit cards (30%), personal loans (28%), and Buy Now, Pay Later services (25%) but remember, these are all unsecured products that can quickly become costly if not managed well.
Tip: Compare interest rates, fees, and repayment terms before taking on new credit. Avoid unnecessary borrowing for short-term wants when rates are high or if you aren’t sure you’ll be able to make the necessary repayments.
3. Build a Safety Net, Even Small Steps Count
Nearly one in four consumers (24%) increased contributions to emergency savings or stokvels in Q2. In addition, 37% plan to grow their retirement or investment savings in the coming months.
Tip: Start with a modest, consistent contribution to an emergency fund, even R200 a month can create a buffer that reduces reliance on credit when life throws curveballs.
4. Strengthen Your Financial Awareness
The study shows that 70% of South Africans check their credit reports at least quarterly, with Gen Z and Millennials leading the way. Those who actively monitor their credit tend to feel more confident and have a better understanding of their overall financial commitments.
Tip: Check your credit report regularly, track your score, and make sure all information is accurate. Awareness is power when it comes to negotiating better credit terms.
5. Protect Yourself Against Digital Fraud
Fraud remains a real risk with 58% of South Africans saying they were targeted by scams in Q2, and 13% fell victim. Younger generations are more likely to adopt safeguards like multi-factor authentication, but 21% of consumers took no action at all.
Tip: Use strong, unique passwords, enable two-factor authentication, and monitor your accounts for unusual activity. Protecting your identity is just as important as protecting your money.
The Bottom Line
The TransUnion Consumer Pulse Study shows that while many households remain under pressure, South Africans are becoming more selective in how they spend, strategic in how they borrow, and vigilant in how they protect themselves.
“Resilience comes from balance: focus on responsible spending and borrowing, reduce costly or unsustainable debt, and build savings to protect against future shocks,” Ayesha concludes.
By taking small, deliberate steps today, households can better manage debt and interest rate uncertainty and build financial stability for tomorrow.
Good Concerns With the Community Services Portfolio Committee
The GOOD Party in Drakenstein Municipality has written to the Speaker of Council, Alderman Koos Le Roux, raising concerns about ward project allocations, specifically an allocation in ward 14 where ward councillor Brenda van Willingh allegedly spent R20,000 on t-shirts for 10 ward committee members.
The post KEY QUESTIONS ABOUT THE 2024/2025 WARD PROJECT ALLOCATIONS LED THE GOOD PARTY TO RAISE CONCERNS WITH THE COMMUNITY SERVICES PORTFOLIO COMMITTEE appeared first on For Good.
The Ekurhuleni Metro’s primary healthcare services are collapsing
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The post Ekurhuleni-metro se gesondheidsdienste stort ineen appeared first on Freedom Front Plus.
Whatever Trump Says, Whites Are Not Doing Badly in South Africa
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TransUnion South Africa Busts Three Short-Term Insurance Industry Myths
Every industry has its myths, and the short-term insurance environment is no exception: leading industry players plan their growth strategies around perceptions of a limited pool of customers, focusing mostly on pricing strategies to attract new business, and finding ways to avoid consumers perceived as too risky.
The best way to confirm or ‘bust’ industry myths is to test them through experiments and data analysis to reveal the truth – and that’s exactly what TransUnion South Africa did with data it holds in the short-term insurance sector.
“South African consumers remain under pressure despite recent interest rate cuts, making this an opportune moment for insurers to rethink their customer acquisition and retention strategies – and to challenge the truisms they’ve relied on in recent years,” said Schalk Fischer, insurance lead at TransUnion South Africa. “To drive better outcomes, insurers must evolve and adapt their strategies to respond to changing market conditions, drawing on risk-management solutions that feature unique data and advanced analytics.”
Myth 1: With stagnant total policy volumes, the only way for an insurer to grow is to win customers from other insurers.
In assessing all new short-term insurance policies taken out between April 2024 and March 2025, TransUnion found that only 17% of new policies were opened by consumers moving to another insurer. Another 37% involved ‘policy splitting’, where consumers moved cover of one of their assets to a new provider, but did not move their whole portfolio.
This means that roughly 54% of new policies are opened due to churn – a significant portion, but certainly not the overwhelming portion that many insurers believe it to be.
“This data shows key growth opportunities for insurers lie among consumers who are new to insurance. In fact, 33% of new policies opened during the time of the study were taken out by consumers who had not had an insurance premium in the previous 24 months,” Fischer said. “While the short-term industry will always be very competitive, there are growth opportunities outside of working aggressively to attract customers from other insurers.”
Myth 2: Loyalty in short-term insurance is dead. Price is the primary variable.
With many consumers scrambling for cost savings, price is perceived to be the most important differentiator between insurers, along with being seen as the main reason that consumers leave one insurer for another.
TransUnion’s analysis showed that 13% of insured consumers who cancel their insurance eventually return to their original insurance provider over time, without switching to another insurer in the interim.
This brand loyalty is fairly consistent between different distribution channels: 9% for banks’ insurance offerings, 11% for brokers, and 14% for direct insurers.
“These findings highlight that, while insurance pricing is certainly a leading consideration among consumers, it is evident that brand loyalty is still a driving factor,” Fischer said. “Marketing and acquisition strategies clearly focus on price, but there’s a greater than expected opportunity to build loyalty that will either retain customers or encourage them to return to brands they have trusted before.”
Myth 3: The new-to-insurance segment is small and only includes risky younger consumers.
TransUnion’s analysis revealed that one in three (33%) consumers who took out policies between April 2024 and March 2025 were new to insurance – they did not have short-term insurance payments linked to their identity number in the previous 24 months.
However, this doesn’t necessarily mean that all newly insured consumers were uninsured before. Some may have previously been covered under their partner or spouse, and later separated their insurance portfolios, or they could have been young adults who sought their own cover after being included in their parents’ policies.
“These findings show that insurers need to expand the scope of how they segment their target audiences, as new-to-insurance consumers are not always who they’re perceived to be,” Fischer adds.
The analysis revealed additional insights into consumers taking out a policy for the first time. Only 6% were aged 18 to 24 years – perceived to be the riskiest consumers – while the greatest portion of these consumers (36%) were aged 25 to 35 years, followed by 36 to 45 year olds, who took out 25% of new policies. It’s clear, then, that consumers aged 25 to 45 present the greatest opportunity for insurers.
In overlaying loyalty data with these findings, it emerged that only 1% of 18 to 24 year olds shopped around for a better deal once they were granted cover, while less than a quarter (24%) of 25 to 35 year olds shopped around. However, consumers aged 36 to 45 showed the greatest propensity to shop around for a better deal, with 29% taking on that challenge.
The myth is officially busted: opportunities for growth lie well beyond young consumers who have only just reached eligibility to apply for their own short-term insurance policies.
“While the short-term insurance market is perhaps not growing at the rate that many insurers would like, our analysis shows that it’s far from stagnant. Clear segmentation along with careful risk management and profitability assessments can help providers acquire lower-risk, higher-value customers across diverse groups of potential customers,” Fischer said. “While price remains a significant driver among consumers, other variables continue to play a meaningful role in building customer loyalty.”
Three New Sinkholes
Three new sinkholes formed along the R500 outside Carletonville after large parts of the West Rand experienced heavy rainfall and hail over the past week. The sinkholes are located on the route between Carletonville and Ventersdorp, only one kilometre from Rooipoort Primary School. The Freedom Front Plus (VF Plus) urges motorists to exercise extreme caution, […]
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94% of Outreach Commitments in Ekurhuleni Mayor’s Programme Remain Outstanding
What was marketed as a flagship outreach programme, in theory, has turned into a series of expensive photo shoots and political theatrics in practice. The first quarterly report for the 2025/26 financial year shows that Ekurhuleni Mayor Nkosindiphile Xhakaza’s so-called outreach programme has not delivered on a single commitment. According to the report, a mere […]
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Payments to Sick Miners in Lesotho Resume After Fraud Scare
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