The rapidly rising cost of living combined with low income means South Africans struggle to survive financially, making them more vulnerable to fraud.
“In their desperation to make ends meet, South Africans may resort to get-rich-quick schemes that promise high returns leaving no thought for long-term, stable and safer income solutions.” says Rajesh Parshotam, chairperson of (DSA) of South Africa, “There’s no quick way to get rich. A tried and tested approach is best.”
He added, “SA households have found the need for additional income to supplement monthly earnings taking to online platforms, or advice from their trusted network on recommended income opportunities that are not vetted by a credible industry association.”
An estimated 14% of all households are engaged in side hustles with higher-earning households tending to be more proactive with side businesses, according to the recent Momentum/Unisa Household Index.
Hundreds-of-thousands of South Africans have chosen to direct sell as a side hustle or primary source of income successfully through a DSA vetted member company allowing for an ethical income and safety for DSA direct sellers and consumers.
Chat to Rajesh Parshotam, chairperson of (DSA) of South Africa on these topics:
- First National Bank (FNB) estimated that it takes an average of five days for a middle-income household to spend up to 80 percent of their monthly salary. Not making ends meet — how to start a side hustle with direct selling?
- The unemployment rate is currently 34.5% according to Stats SA. DSA is in discussion with the Gauteng Department of Economic Development to include the direct selling industry as part of the economic solution to address the impact of unemployment, predominantly in townships. How can direct selling help with unemployment?
- Digital fraud cases are on the rise in SA, with rates increasing by 73.7% in 2021 since 2019, and 52% of SA consumers targeted recently according to a TransUnion report. With more South Africans taking to online platforms, what are the red flags for fraudulent activities for both consumers and those looking for a legitimate source of income?
- How can consumers and “side-hustlers” protect themselves from scams/fraudulent activities?
- South Africans desperate for a higher income are prone to fraudulent investments. Pyramid Schemes Vs Ponzi Scheme.
- Pyramid Schemes Vs Ponzi Scheme Vs Direct Selling.
- What is direct selling?
- Budgeting and personal finances. How can South Africans budget and build up their personal finances to make ends meet?
