Bayport Blog

Debt solutions – there’s one for you!

From 22 to 28 March, South Africa is joining the global Money Smart Week initiative. Given that around six out of every 10 South Africans don’t understand basic financial concepts and terminology, a financial literacy event like this is sorely needed in our country.

Research has shown that poor financial literacy and education have a direct impact on people’s financial well-being and can affect their overall health and wellness. A lack of financial understanding leads to bad money habits that result in financial difficulty. This is the reason why so many South Africans struggle to pay their bills every month and have far more debt than they can deal with.

Money Smart Week is all about making consumers aware of solutions. One such event during the week will be a panel discussion on debt solutions, given that debt management is a major struggle for most South African consumers.

Talking about debt relief solutions such as debt mediation, debt consolidation, and debt counselling, will be Bayport South Africa’s CEO Alfred Ramosedi; Katlego Morwane, the CEO of Finwell; Masego Sithole, a debt counsellor; and Lancelot Twala.

Be sure to visit https://www.mswsa.co.za/ from 22 to 28 March to learn more about Money Smart Week.

For more information on financial wellness, visit https://www.bayportsa.com/wellness/solutions/ or visit https://www.bayportsa.com/information-centre/ for free financial wellness resources and financial tools.