More South Africans are turning social media into a source of income as they look for new ways to make money.
This is according to the latest Old Mutual Savings & Investment Monitor 2026, which found that the number of working South Africans earning money through social media has increased from 37% to 51%.
The rise comes as many households continue to feel pressure from the high cost of living, rising expenses and debt commitments. The report shows that financial concerns remain high, with income security, cutting expenses and paying off debt among the top priorities for working South Africans.
IOL also previously reported that South African consumers faced a sharper increase in the cost of living in June than economists had expected, with annual inflation accelerating to 5% from 4.5% in May, reaching levels last seen in June 2024 as higher transport costs pushed prices higher.
The report shows that more people are using social media to make extra money and help improve their finances.
