Debtfree Magazine issue #12 of 2021

SURVIVING 2021 YOU MADE IT
NOVEMBER CONT’D
Financial
The SA Repo Rate goes up for the first time in years to 3.75%.
Economists predict a series of future increases taking the rates up to
5.5% over the next 24 months.
3 more people are rounded up in arrests related to the VBS looting
case, which will proceed in 2022.
The NCR drop their case against credit provider Moneyline, who
they had accused of taking advantage of thousands of vulnerable
consumers.
In another blow to consumers, credit provider Bayport won their
Supreme Court Appeal (about adding lots of legal costs after
judgments). The Stellenbosch Law Clinic is now considering taking
matter to the Constitutional Court on behalf of consumers.
The World’s Taxiest Man
This year, the world’s richest man Elon Musk, decided to pay tax.
Going onto Twitter, Elon causes his usual chaos, asking if he should
pay tax and stirring up the hornet’s nest (incidentally messing with the
share prices of the very shares he was going to buy and sell). Over the
course of a few weeks, Elon cashed out shares (and bought a bunch
more) and become America’s biggest private tax payer ever, paying
R175 Billion in one go.