As South Africa celebrates Women’s Month, we honour the strength, resilience, and achievements of women across the country. Yet behind the stories of triumph are quieter, more sobering realities about financial strain, emotional exhaustion, and the heavy burden of debt that many women carry alone.
The pressure can be relentless. South African women are often the sole breadwinners, caregivers, and financial decision-makers in their households. And they are increasingly turning to debt for survival. According to recent Stats SA data, 42.3% of households are headed by women. Many are single parents, earning less than their male counterparts, and carrying more unsecured debt. In fact, some reports show that most women in debt counselling are burdened by high-interest personal loans and credit cards.
“These statistics reflect the lived experiences of millions of women who are trying to do everything right yet still falling behind. This is not just a financial issue, it’s a crisis,” says Alpheus Legodi, Product Head at FNB Loans. “Women often have no choice but to take on debt to meet basic needs.”
The emotional toll of over indebtedness can be immense, affecting one’s ability to plan, save, and get ahead financially. It can lead to one carrying an invisible weight, worrying about debit orders, dodging calls from creditors, feeling exhausted by trying to stretch finances that continually fall short. For many women, it’s a cycle that feels impossible to break.
Yet, Legodi advises that debt consolidation can be a powerful tool for those who feel trapped. By combining multiple debts into a single personal loan, women can reduce their monthly repayments, simplify their finances, and unlock cashflow.
“Take Mamosa, a 40-year-old from KwaZulu-Natal, for example. She was juggling five agreements, including two retail accounts, two loans, and a balloon repayment agreement. Through FNB Credit Switch, she consolidated R185,000 of these agreements into one convenient FNB Credit Switch Product – reducing her monthly instalments by R1,306. She now has one repayment, one provider to engage with, is no longer paying interest on multiple agreements, and has unlocked R1,306 towards her monthly budget,” says Legodi.
Ester Ochse, Integrated Advice Product Head at FNB says debt consolidation is not just about reducing repayments. “It’s about reducing anxiety. When women can manage their debt more effectively, they regain control over their finances and their futures. By combining multiple debts into a single personal loan, you benefit from having with one payment and one interest rate and potentially unlocking cashflow to to cover essentials or start saving.”
The reality in our country is that a woman is the backbone of her community. She is the one who makes a plan, who goes without, so her children don’t have to. She carries the emotional and financial weight of an entire family. But she shouldn’t have to do it alone or in silence.
“While debt consolidation isn’t a miracle cure, it can be a lifeline, a way to plan again, hope again, and breathe again. Let’s equip women with the tools they need to thrive. Let’s talk openly about debt, about financial stress, and about the real solutions that exist. Because when women are financially free, everyone rises,” concludes Ochse.
SUPPLIED.
