The private credit bureau coverage in South Africa is projected to exhibit a steady increase in the coming years. Starting from a value of 70% in 2024, it is expected to rise incrementally to 72.4% by 2028. This indicates a consistent upward trend in coverage among the adult population. The year-on-year percentage variations reveal a persistent growth pattern. Compared to 2023, where the actual value stood at 69.4%, the increase to 70% in 2024 represents a growth of approximately 0.86%. Over the last two years, the rate of increase has been incremental, with the coverage growing by about 0.86% annually into 2024. The Compound Annual Growth Rate (CAGR) over the five-year period from 2023 to 2028 averages around 0.86% per year.
Future trends to watch for include the potential impact of technological advancements on credit reporting, regulatory changes, and economic factors that could either accelerate or decelerate growth in private credit bureau coverage. Additionally, the inclusion of more diverse data sources might enhance coverage and accuracy, thereby influencing overall trends in the credit market.
