Sanlam Report finds that Only 17% of South Africans are satisfied with their current financial situation

Loading player...
GUEST - Sipho Mncwabe, Head of Adviser Transformation at Sanlam

Sanlam has launched its first-ever Sanlam Financial Confidence Index, an annual index which assesses the financial confidence levels of the country’s adult population. The research found that 81% of South Africans surveyed experience stress when managing their personal finances, only 35% of South Africans trust their financial abilities and just 17% don’t experience unhappiness when it comes to their current financial situation.

Key survey highlights:

• Only 35% of respondents trust their financial abilities.

• Individuals aged 40 to 60 exhibit the lowest self-trust levels.

• 57% feel confident identifying suitable financial products.

• 67% exhibit courage in negotiating financial matters.

• 52% have access to credit, and an equivalent percentage rely on friends and family for financial support.

• Only 34% possess insurance coverage for unforeseen financial risks.

• A mere 33% don't feel embarrassed about their childhood financial situations.

• Only 17% don't experience unhappiness regarding their current financial circumstances
13 Sep 2023 4PM English South Africa Business News · Investing

Other recent episodes

FDI at a Turning Point: What Global Investors Expect in 2026

Kearney’s Global Business Policy Council unveils the 2026 FDI Confidence Index®, revealing the top global and emerging markets expected to attract investment over the next three years. Africa Managing Partner Theo Sibiya breaks down the trends shaping investor sentiment
9 Apr 4PM 13 min

Inside Your Pocket: Why SA’s Cost of Living Keeps Climbing

Electricity inflation has surged 85% since 2020, water is up 68%, and low‑income households now spend nearly 67% of their income on food and utilities. Senior economist Raksha Darji unpacks the Competition Commission’s March 2026 Cost of Living Report — revealing structural failures, pricing behaviour, and what must change to…
9 Apr 4PM 13 min