THANDI XABA
Women make up almost half of the country’s population with over 40% of them economically active.
According to the Credit Ombud, Nicky Lala Mohan women’s participation in the country’s economy has improved over the years yet it’s unfortunate that in some instances women are not as financially healthy as they could be.
Furthermore Deputy Ombudsman, Reana Steyn says it has become very important for women to be aware of their credit report and possibly get as much insight on their finances as possible.
"It is critically important for the woman in the country to be aware of what is happening on their credit reports becuase that means they can take charge of their finances.
Half of the people out there who are economically active and buying on credit are woman, so they should be aware of what is going on and be willing to educate themselves," she says.
According to the 2014 annual results released, 47% of the complaints lodged at the office of the Credit Ombud were received from women, and the current year to date results show a similar trend.
Steyn adds that women are renowned for opening numerous clothing and store accounts, often to their own detriment as it then becomes very easy to over spend and make purchases which are unnecessary.
