financial literacy

Supply and demand drives the informal lending market, and there’s an estimated 50,000 unregistered credit providers who charge on average four or five times the legal interest on loans. And it’s these lenders that many crèche or early childhood development centre (ECD) owners are turning to, to keep their businesses afloat because they are not financially literate. According to the 2011 Gender Statistics Report, the community and social services sector employs the most women in South Africa. … [Read more...] about Unregistered credit providers crippling early childhood development centres