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AFHRI

Snapshot of Q1 2025 findings

Management-1
Resilience drops
AFHRI fell by 4.2% quarter-on-quarter, reflecting a tough start to the year as festive debt and back-to-school costs weighed heavily on households.
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Unemployment deepens
Joblessness now mirrors the size of formal employment, while inequality continues to rise despite salary increases for those in work.
Data Analysis_12
High rates, low confidence
The real prime rate sits at nearly double pre-pandemic levels. Inflation may be controlled, but growth and consumer confidence are being choked.
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Support local, save jobs
Local manufacturing is operating at just 76% capacity, with imports eroding demand. Supporting local businesses is more than patriotic—it’s essential for resilience.

Why the AFHRI matters

Household resilience isn’t just a number, it’s the ability to cope with bills, debt, and life’s shocks. The Altron FinTech Household Resilience Index (AFHRI) measures this capacity by tracking 20 key indicators that are inflation-proof and updated quarterly.

Whether you’re in lending, retail, insurance, or policy, the AFHRI provides a unique, actionable picture of how South African households are managing under today’s economic realities.

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What you’ll learn in the full report

Asset 13 Why the headline AFHRI score rose for the third straight quarter – and why that doesn’t tell the whole story.
Asset 7 How high rates are still throttling credit extension and household consumption – and what to watch if the SARB pivots in 2025.
Asset 48 Sector-by-sector stress tests: which income bands, regions and age groups show early warning signs.
Asset 44 Action points for lenders, insurers and retailers keen to calibrate risk models before the next economic shock.
Asset 50 Expert commentary from economist Dr Roelof Botha on the global rate cycle, South Africa’s policy options, and growth prospects.

AFHRI in the media

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SABC

On SABC News, Dr Botha explains the Q1 2025 AFHRI findings and how unemployment, inflation, and interest rates shape household resilience.

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eNCA

Dr Roelof Botha unpacks the latest AFHRI data — why South African households are under pressure and what needs to change.

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702

In conversation with 702, the human side of the AFHRI numbers, how families are adjusting to survive.

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Khaya FM

On Kaya FM, Dr Botha breaks down what the AFHRI tells us about resilience, spending, and why supporting local still matters.

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Who Should Read the Report?

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    Credit & Risk Teams: Spot early warnings of default risk
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    Product & Strategy Leads: Align solutions with consumer realities
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    Policy Makers: Understand where resilience is breaking down
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    Investors & Analysts: Track the financial pulse of SA households

Dr Roelof Botha, Economist and AFHRI Author

“Q1 2025 reminds us that resilience is fragile. Households remain vulnerable to high rates and unemployment, but there are clear opportunities for businesses and policymakers to respond with innovation, inclusion, and support.”

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Turn insights into action for growth. Download the report now.