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Most South Africans Use Debt to Survive to Payday, Survey Finds

  • Loans being taken to buy food and pay for emergency expenses
  • Payment holidays have added about $1.2 billion to debt
Covid-19 Screening in South Africa's Bojanala Platinum District
Photographer: Waldo Swiegers/Bloomberg

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Almost 80% of South Africans seek expensive unsecured loans to help them meet their monthly financial obligations, according to a survey by fintech platform PayCurve.