South Africa: January Pressure Is Pushing Families Into Dangerous Mashonisa Debt

South Africa: January Pressure Is Pushing Families Into Dangerous Mashonisa Debt

Borrowers say mashonisas charge extreme interest, forcing people to borrow again just to repay old loans. Many hand over bank cards or Sassa cards as security, leaving them with no protection and constant fear.

January pressure is pushing families into dangerous mashonisa debt

By Everson Luhanga Borrowers say mashonisas charge extreme interest, forcing people to borrow again just to repay old loans. Many hand over bank cards or Sassa cards as security, leaving them with no protection and constant fear. January is one of the hardest months of the year for many South Africans. School fees are due, petrol prices are high, and most households are still recovering from December spending. For many families, there is simpl…