Comrades […] for too long we have been marginalized for using the wrong stuff for the job,” goes the rant of a spoof politician in the latest advert for South African DIY retailer Cashbuild.
The increasing amount of unsecured credit taken out in South Africa is, in its own way, revolutionary. It is overthrowing parts of the country’s entrenched banking hierarchy. Building materials stores have been perhaps the single-biggest beneficiary in the consumer goods sector, as a stagnant housing and mortgage market has spurred a wave of DIY home improvements among higher-income earners who are now less able to move house.
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