Consumer credit is largely set to be driven by an improving performance by the local economy over the forecast period, combined with easing inflation. As inflation eases and the supply of key global commodities recovers, consumer purchasing power will grow, resulting in a higher number of applications for loans with greater confidence to repay them.
The launch of the Rapid Payments Programme (RPP), which is expected to take place in 2023, is anticipated to reshape the micro-lending landscape in South Africa. The RPP, which is currently in build phase, is an integrated digital platform which facilitates proxy payments and real-time clearance within 60 seconds, and as it steadily facilitates the migration away from cash, it will provide financial operators and lenders with immense growth potential.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in South Africa with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in South Africa, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.See All of Our Definitions
This report originates from Passport, our Consumer Credit research and analysis database.
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