The number of South African consumers who qualify for debt relief grew to 10.4m in the second quarter of 2022, meaning that around 57% of consumers that have unsecured credit now qualify for debt relief. Consumers earning less than R7,500 per month who hold less than R50,000 in unsecured debt can apply to have their debt suspended or extinguished.

For more insights on the impact of the economy on South African consumers, download the latest Eighty20 Credit Stress Report.