South Africans are flocking in their numbers to start side hustles thanks to their natural creativity and entrepreneurship, according to recent wide-ranging studies: The Old Mutual Savings and Investment Monitor found that almost three in five South Africans have a side hustle. Remitly, a money transfer and global remittance company, found that South Africa, “a nation whose entrepreneurial mindset reflects its traits of being resourceful, determined, and eager to innovate”, topped the global list with a score of 46.18 out of 60. These reports certainly contain much to celebrate, but there is another side.
The Wealthbit 2025 Financial Stress Report* makes for sobering reading in this regard: According to Wealthbit’s research, 48% of South African employees have either taken on a side hustle or seriously considered it because of financial stress,not as a creative outlet. The South African Reserve Bank has calculated that more than 60% of household income is going to pay back creditors, while 38% of consumers were unable to pay at least one bill in full during the first quarter of 2025.
Financial stress is not just a problem for lower-income households: 29% of emerging high-income South Africans does not have an emergency savings to tide them over in tough times. Wealthbit 2025 Financial Stress Report* shows that four in five South African employees across income levels regularly worry about money. As Alex Cook, Chief Executive Officer of fintech company Wealthbit, says, “That’s most of our people, most of the time.” The stress of trying to keep up with their bills and debt repayments is taking up cognitive bandwidth.
“People who are worried about money are not fully present because the brain can’t compartmentalise well when it is under financial threat, and this is evident in presenteeism, distraction, motivation loss, and earlier job seeking,” he says.
The stress affects both productivity and a company’s churn rate. “Our numbers show that financially stressed workers are twice as likely to look for another job, while 70% are looking at changing jobs to alleviate the financial pressure. Replacing these employees is a big expense that most companies would rather avoid,” says Cook.
In this environment, addressing employees’ financial stress can make a dent in the churn rate, saving companies the high costs of replacement.
Bridging the gap between freely available information and adaptation is the most effective weapon in this fight. “Financial wellness programmes can address the gap in employees’ financial literacy, make it relevant to their situation and teach them how to manage their money better. Financial stability has a measurable effect on their stress levels, ultimately resulting in more-engaged employees,” concludes Cook.
* 2026 Employee Benefits Report is compiled from various independent sources, including the Sanlam Benchmark Survey 2025, the Wealthbit Financial Stress Report 2025, PwC’s Employee Financial Wellness Survey 2023, Gallup’s State of the Global Workplace 2025, Microsoft’s Work Trend Index 2025, Statistics South Africa and the South African Reserve Bank.
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