South Africans are grappling with the heavy burden of debt, often without the necessary knowledge or tools to escape its clutches. High levels of debt can hinder financial growth, limit opportunities, and create a cycle that is difficult to break. At Altvest Credit Opportunities Fund (ACOF), we believe in empowering our clients with the education they need to regain control of their financial well-being.
The debt crisis in South Africa is a pressing issue that demands attention. Statistics released by Veri Cred Credit Bureau (VCCB) show that debt still outstanding at the end of Q2, 2021 reached R2.077 trillion, and 717 495 people were under debt review. This reality needs to be seen within the context of the fact that the average South African is spending up to 75% of their disposable income on debt repayments – a 5% increase from the long-term average of 70% as reported by the South African Reserve Bank.
At ACOF, we want to equip our clients with the knowledge and skills necessary to thrive financially. We understand that financial education is the key to long-term success, and we are here to support you every step of the way. We believe that everyone deserves the opportunity to build a secure financial future. Take the first step towards financial empowerment by exploring our educational resources.