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

TECH & INNOVATION: Top social media trends to watch in 2026

Social media continues to evolve at lightning speed, reshaping how brands connect with audiences. As we navigate through 2026, the landscape is being defined by emotional storytelling, authentic connections and a strategic balance between human creativity and AI-powered innovation. The numbers paint a compelling picture: South Africa is home to…
24 Feb 3PM 10 min

SAT - Celebrating 20 Years of Connecting Africa to the World

What began as a strategic initiative by South African Tourism has grown into one of the continent’s most influential business events platforms. Meetings Africa was created to position Africa not just as a leisure destination, but as a serious global player in the meetings, incentives, conferences and exhibitions — or…
24 Feb 3PM 21 min

Salaries rise in January ahead of National Budget relief expectations

With the 2026 National Budget looming, South African salary earners are hoping that modest wage growth will finally translate into real financial relief rather than being absorbed by inflation and tax pressures. While recent data shows nominal salary increases, real wages remain under pressure, reflecting the broader tension between economic…
24 Feb 3PM 16 min

Fix the basics: South Africa’s 2026 budget must make local government work

As South Africa moves closer to the next local government election cycle, the pressure on the 2026 National Budget to demonstrate real, measurable progress at municipal level is intensifying. Dr Clement Moyo, economist at Ntiyiso Industrialisation Consulting explains why fixing local government the biggest economic priority in this Budget.
24 Feb 3PM 10 min