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Half of SA's population don't have bank accounts

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dArKeR Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-11-03 07:04 AM
Original message
Half of SA's population don't have bank accounts
Over 13-million South African adults have no bank accounts and a comprehensive survey of households suggested on Monday that this was "a vast opportunity to bank the unbanked".

The FinScope 2003 survey showed that most South Africans would want to put money in the bank if they had a large sum available, said FinMark Trust chief executive David Porteous. The fact that almost half the population is unbanked is
indicative of barriers to entry that arise from unemployment, irregular income and low personal income.

FinScope 2003 showed participation in the formal financial system as follows:

# 13,7-million adults currently banked;
# 3,7-million adults previously banked;
# 9,5-million adults never banked.

The challenge was "to understand behaviours and attitudes across the population towards financial services and other related products in order to design suitable financial products and delivery channels."

http://www.mg.co.za/Content/l3.asp?ao=23372
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LeftistGorilla Donating Member (583 posts) Send PM | Profile | Ignore Tue Nov-11-03 08:12 AM
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1. interesting...
The challenge was "to understand behaviours and attitudes across the population towards financial services and other related products in order to design suitable financial products and delivery channels


reminds me of an article I read about the introduction of credit cards in South Korea... it was a totally new way for Koreans to purchase goods... but today... many millions of Koreans have decided they are not interested in paying the bills... and the credit card companies are in big trouble...
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dArKeR Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-11-03 09:50 AM
Response to Reply #1
2. I saw an entire country with no credit cards be introduced to credit
cards. Taiwan. They went for it.
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RuB Donating Member (402 posts) Send PM | Profile | Ignore Wed Nov-12-03 04:07 PM
Response to Reply #1
3. LOL Why anyone would want American style capitalism
is beyond me. Now America is paying off their credit card by refinancing their houses. And the Bushites call this an improvement in our economy. RUN FROM AMERICAN CAPITALISM KOREA RUN!!!
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