EXPERTS SOUTH AFRICA South Africans spent big on groceries, entertainment and fuel in December 1 year ago Szarlot Post Views: 290 BankservAfrica’s point-of-sales (POS) transactional data showed how the spending varied among cost-conscious consumers. Solly Bellingan, head of customer relations at BankservAfrica, said the total spend during the month amounted to R100 billion as transaction volumes reached 142 million in December. South Africans spent big on groceries, entertainment, and fuel in December, as shown below. Grocery stores and supermarkets – R26 billion Betting outlets, including lottery tickets, casino gambling, and off-track betting – R11.7 billion Service stations – R9.2 billion Non-financial institutions – R3.5 billion Family clothing stores – R3.1 billion The busiest shopping places were grocery stores and supermarkets, with 45 million transactions, followed by service stations at 12.8 million and eating places and restaurants at 8 million. “Our data show the total value of spending was only 7% higher than the previous year’s while the volumes had grown by 17%,” – said Bellingan. BankservAfrica’s Integrated Cash Management Service (ICMS) data shows that the amount of cash circulating in South Africa totalled R84 billion in December 2022. It reflects commercial banks’ total physical cash orders for their respective ATM and branch networks. Despite the 6% decline in the R89 billion in December 2021 – resulting from the 19 working days in 2022 compared to the 21 in 2021 – cash remained in high demand. “One of the peak days was 15 December, ahead of the Day of Reconciliation, with cash orders to the value of R8 billion placed. Orders worth R7.9 billion occurred on 23 December, during the Christmas shopping rush.” – said Bellingan. Source: dailyinvestor.com About Post Author Szarlot I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. See author's posts SzarlotI am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. Facebook Twitter LinkedIn Email Print Tags: economy, South Africa, spending money Continue Reading Previous Betfred SA denies it owes Joburg City Power over R3m in unpaid lights billNext How Will Malawi’s Economy Fare in 2023 More Stories ONLINE SOUTH AFRICA SOFTSWISS unveils South African iGaming market overview 21 hours ago Samuel EXPERTS UGANDA 1000 Ugandan students drop out annually-reason is gambling 21 hours ago Szarlot EXPERTS NIGERIA Africa Surges to Become Third Largest E-gaming Market With 186M Players 4 days ago Samuel ONLINE SOUTH AFRICA WA.Technology Unveils Next-Gen iGaming Solutions at BiG Africa Summit 2024 5 days ago Szarlot EXPERTS NIGERIA Binance executives detained in Nigeria 5 days ago Samuel EGYPT EXPERTS The huge opportunities of fintech in middle east and Africa 6 days ago Samuel EXPERTS NIGERIA Binance Exits Nigeria, Government Launches Crypto Inquiry 6 days ago Samuel EXPERTS WORLD NEWS Entain to review brands and units after reporting £879m loss 7 days ago Szarlot EXPERTS NIGERIA The Future of Gaming Unveiled at AGE LAGOS 2024! 7 days ago Samuel EXPERTS SOUTH AFRICA SiGMA Africa 2024: Reshaping South Africa’s igaming landscape 7 days ago Samuel EXPERTS SOUTH AFRICA SiGMA Africa 2024: Explore SiGMA’s Cape Town summit 1 week ago Iwo Bulski EXPERTS SOUTH AFRICA EGT Digital to showcase slots, instant games and betting platform in SIGMA Africa 1 week ago Iwo Bulski Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.