Financial
Photo Credit: Regency Global / SA INC

Busisiwe Mthimkhulu became financially strained after she amassed a mountain of debt, but the stress was lifted after Bayport assisted her in becoming money savvy.

 

South Africa (04 March 2020) – South Africans are no strangers to financial debt. The problem is that many turn to credit to get by but are unable to afford the repayments. As they try and cover expenses and debt costs, it can spiral. This is the case for Busisiwe Mthimkhulu, a self-proclaimed shopaholic.

Busisiwe didn’t understand credit and how to manage it. She quickly found herself unable to cover the multiple store accounts she had opened. Stressed by the calls from various debt collection agents, Busisiwe ignored the problem, unaware of how it would affect her financial life going forward. The problem didn’t go away, and she turned to Bayport for assistance.

The financial services provided by Bayport, South Africa’s third-largest unsecured lender, plays a huge role in assisting those South Africans who form part of the ‘missing middle’. Due to a lack of security, they are usually refused loans from traditional financial institutions. Bayport steps in by not only enabling them to secure finance but also plays a critical role in their financial education.

#SAINC met Busisiwe Mthimkhulu, who describes the dire financial situation she found herself in after amassing a lot of debt at various banks and retailers. Bayport’s debt consolidation loan service assisted her in consolidating all her loans and she is relieved at being in control of her financial situation once more.

The company is working to ensure South Africans are financially literate. Bayport is passionate about making a difference in people’s lives. Not only do they help consumers with debt management, but they also provide them with financial planning tips, financial education, and product education. Through their trusted financial services, Bayport believes that they are contributing to the well-being of their clients, as well as helping them to build a bright future.

As money can be a stress, Bayport hopes their approach will boost the wellness of their clients.

As part of the #SAINC nation-building initiative, Bayport is joining a network of purpose-driven brands to share stories of positive progress in South Africa. These stories are being featured across social media in small snippets, just like the one below, but you will also be able to watch the full-length features live on television. You will find the airing times below:

07 March 2020 – SABC 2 – 14:30
24 March 2020 – Business Day TV – 16:00
26 March 2020 – Business Day TV – 12:00

Watch a snippet of the story below:


Sources: Regency Global 
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Tyler Leigh Vivier
About the Author

Tyler Leigh Vivier is a writer for Good Things Guy.

Her passion is to spread good news across South Africa with a big focus on environmental issues, animal welfare and social upliftment. Outside of Good Things Guy, she is an avid reader and lover of tea.

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