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Shocker! South Africa's debt stats

Jan 20 2016 12:19


South Africans were the biggest borrowers in the world in 2014, according to a report issued by the World Bank. And they appear to be borrowing mostly from friends and family, private micro-lenders and to a far lesser extent from financial institutions.

Mining was one of the hardest hit sectors for debt in the last few years, with strikes driving the miners into further debt. Anglo American is one of the mining companies looking to mitigate these statistics.

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