NIVASHNI NAIR | 26 June, 2012 00:10
UNDER THE KNIFE: A rising number of South African women are taking out personal loans for breast enlargement procedures
Image by: Picture: REUTERS
Despite the global recessionary mood South African women still want to increase their breast sizes on credit.
First Health Finance, which offers finance to people who want plastic surgery, handled more than R50-million worth of applications for breast augmentation last year.
This figure is likely to rise this year, with at least R28-million in applications received in the first half of the year.
Durban economist Kwanele Gumbi said people throughout the world are taking advantage of the recessionary mood to obtain unsecured loans that do not need high collateral.
“We might be in a position of very stunted growth and a recessionary mood, which really means that the world doesn’t know which direction it is taking, but people are taking these smaller loans to get greater satisfaction,” he said.
“Things that might add value to life, such as plastic surgery, are on the increase because it might give instant gratification.”
Breast augmentation procedures in South Africa cost between R30000 and R45000.
A Durban woman, who took a personal loan from a bank to fund her breast enlargement, said it was the only monthly repayment she did not complain about.
“It might seem silly, but it is like buying a flashy car or clothes on credit. Everybody does it.”