Financial stress driving productivity losses and staff turnover, warns Wealthbit

SOUTH Africa's growing financial pressures are increasingly spilling into the workplace, with nearly half of employees either taking on side hustles or considering additional income streams because of financial stress, according to new research from fintech company Wealthbit.

- ASHLEY LECHMAN

While recent studies have highlighted the country's entrepreneurial spirit, Wealthbit's 2025 Financial Stress Report paints a more concerning picture of why many South Africans are seeking extra sources of income.

According to the report, 48% of South African employees have either started a side hustle or seriously considered one due to financial pressure rather than personal ambition or creative fulfilment.

The findings come against a backdrop of mounting household debt and rising living costs. Data from the South African Reserve Bank shows that more than 60% of household income is being used to service debt, while 38% of consumers were unable to pay at least one bill in full during the first quarter of 2025.

Although side hustles are often celebrated as a sign of innovation and resilience, Wealthbit chief executive Alex Cook said the underlying financial strain is creating significant challenges for both employees and employers.

“Wealthbit's 2025 Financial Stress Report shows that four in five South African employees across income levels regularly worry about money," said Cook.

“That's most of our people, most of the time."