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South Africans to feel a pinch as SARB hikes interest rates

Financial pain is in store for South Africans this Christmas.

The Reserve Bank has decided to hike interest rates by a quarter of a percent with immediate effect. It's the second interest rate hike this year meaning repayments for cars, home loans, bank loans and other debt are set to go up leaving people with less money in their pockets.

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Students are finding themselves buckling under severe debt

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More and more students are finding themselves buckling under severe debt even before they get their first jobs. They are offered easy credit in the form of store cards, credit cards and short-term loans by banks - on top of their student loans.

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City of Cape Town help residents build new homes.

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The City of Cape Town and Disaster Management personnel have been working continuous to help residents of Agstelaan Informal Settlement in Valhalla Park to build new homes. One-thousand-500 people were left homeless when 350 shacks were gutted in a fire. The city handed out building kits, including iron sheets, to many of the residents.. The city's planned handover of the bulding kits had been halted, after a group of residents embarked on protest action demanding brick and mortar homes.

Those absconding from paying student loan will be tracked down: NSFAS

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Those absconding from paying student loan, will be tracked down.

The National Student Financial Aid Scheme is tightening its grip on defaulting debtors. It's on a mission to recoup 14 and a half billion rand in unpaid student debt.

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