Financial crisis deepens for SA women, 40% of whom are single mothers

AS WOMEN’S Month draws to a close in South Africa, the fiscal load that women shoulder in silence and often alone, have been revealed in the insights from the latest Debt Rescue survey.

- ASHLEY LECHMAN

While people across the country brace themselves for job losses in the wake of the US Tariff hike, with households already stretched by record levels of debt, more and more South African women, of whom 40% are single mothers, bravely carry the baton of financial responsibility for themselves and their families.

Debt Rescue’s recent survey revealed some disturbing results and painted a grim scenario where women from all walks of life are being forced to make difficult financial decisions just to keep going, with 54% of those polled attributing their failing physical health to financial stress, and 43% saying they sometimes go without food or electricity to repay their debt, while 44% struggle to make their minimum debt repayments.

This concurred with the latest survey data released by FinMark Trust, which showed that 75% of adults who borrowed in 2024 did so to cover essentials like food, with 43% relying on credit just to put meals on the table. Rising arrears and defaults point to households walking a terrifying financial tightrope.

“The fiscal load that women shoulder in silence and often alone, came through loud and clear in the insights from our survey, which we conducted in July and early this month, Women’s Month, to shine a spotlight on the real plight of women in South Africa right now,” CEO of Debt Rescue, Neil Roets said.

“With more single mothers in South Africa managing household finances, often as the primary or sole income earners, the financial burden on them is especially significant. As the financial decision makers in their households, many are not just supporting their biological children but are also financially responsible for extended family members. This places them under tremendous stress and impacts their mental well-being. Something has got to change,” Roets added.