The Squeezed Middle: Why South Africa’s Middle Class is Losing Confidence.

Loading player...
Guest: Nomvelo Moima – Junior Economist, Bureau for Economic Research (BER)



South Africa’s Consumer Confidence Index has slipped further into the red at -13 for the third quarter, but it’s the middle class that’s really feeling the squeeze. Confidence among households earning between R5,000 and R20,000 a month has dropped sharply from -7 to -16, reflecting the mounting strain of high food inflation, weak job creation, shrinking two-pot retirement payouts, and rising living costs.



Nomvelo Moima unpacks why the middle class is bearing the brunt compared to low- and high-income earners, the paradox of pessimism despite easing interest rates and modest economic growth, and what these diverging confidence levels say about South Africa’s uneven recovery.
25 Sep 2025 4PM English South Africa Business News · Investing

Other recent episodes

SA Outlook: Is Investment Grade Back Within Reach?

Could South Africa regain investment-grade status by 2028? Investec's Osagyefo Mazwai explains why the country's fiscal position, institutional reforms and improving credibility are shifting the ratings conversation. We explore the remaining obstacles, the importance of the MTBPS and what investors should watch next.
20 Oct 1PM 16 min

Borrowing To Survive: South Africa's Money Squeeze

The latest Money & Me survey paints a worrying picture of household finances, with more consumers borrowing before month-end, dipping into retirement savings and turning to side hustles to stay afloat. Sarah Nicholson of JustMoney unpacks what the data reveals about financial stress, debt burdens and economic resilience among South…
20 Oct 1PM 17 min

NBI on Powering Pathways To South Africa's Green Jobs Future

South Africa's green transition could unlock hundreds of thousands of jobs, but only if skills development keeps pace. Gugu McLaren-Ushewokunze from the National Business Initiative discusses the new Skills Development Zones model, the future of green employment, and how South Africa can ensure young people and underserved communities benefit from…
20 Oct 1PM 16 min

-DELETED- Borrowing To Survive: South Africa's Money Squeeze

The latest Money & Me survey paints a worrying picture of household finances, with more consumers borrowing before month-end, dipping into retirement savings and turning to side hustles to stay afloat. Sarah Nicholson of JustMoney unpacks what the data reveals about financial stress, debt burdens and economic resilience among South…
20 Oct 1PM 17 min

NBI on Powering Pathways To South Africa's Green Jobs Future

South Africa's green transition could unlock hundreds of thousands of jobs, but only if skills development keeps pace. Gugu McLaren-Ushewokunze from the National Business Initiative discusses the new Skills Development Zones model, the future of green employment, and how South Africa can ensure young people and underserved communities benefit from…
20 Oct 1PM 16 min