Financial confidence hits 3-year high despite ongoing challenges

SOUTH Africans' financial confidence has reached its highest level in three years, rising from 47 in 2024 to 53 out of 100 in 2025, according to the latest Sanlam Financial Confidence Index.

- DIEKETSENG MALEKE

The study shows a nation that feels more in control of its finances, yet still struggles to turn confidence into consistent, long-term action.

According to the index, after years of economic instability, many South Africans are recalibrating their relationship with money. Half of respondents now believe they could recover from a financial setback, an 11% increase from last year.

Kele Boakgomo, CEO of Yugrow and behavioural scientist, says this reflects a nation in recovery:

"We're seeing a collective shift from survival mode to control. Financial stress has forced new habits people are protecting what they have, prioritising stability, and learning to manage uncertainty.

The next step is helping them turn control into long-term capability." The survey included 1,512 participants aged between 20 and 70, all earning at least R1 000 per month.

Lee Hancox, head of channel and segment marketing at SanlamConnect, says the rise in confidence may be linked to broader economic shifts.

"The growth in confidence may reflect a broader economic shift as the prime lending rate has dropped from a peak of 11.75% in 2023 to 10.50% in 2025, easing debt pressure and unlocking more disposable income.