As the Economist points out, a boom in consumer credit in South Africa has run its course with African Bank's demise. The figures are staggering - Almost half of all South Africans struggle to service their debts, says the credit regulator. The 20m who are “credit active” currently owe 1.44 trillion rand between them. That works out to 71,416 rand per person, on average, around the same as South Africa’s GDP!