Tourists flock to places like Cape Town which ‘really is the most magnificent place you could possibly imagine. You go and see big game and all the old SA tourism things’: Independent analyst Chris Gilmour.
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The worry has been that, at some point, the music will stop for the banks and the environment of consumer pressure and higher rates will end up tipping things over the edge, disappointing investors along the way and breaking the credit loss ratio as borrowers default on loans.
Western Cape Premier Alan Winde is concerned about year-end budget cuts affecting service delivery, exacerbated by population growth and hits to frontline services.