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

[dArKeR]

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

[LeftistGorilla]

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...

[dArKeR]

2. I saw an entire country with no credit cards be introduced to credit

cards. Taiwan. They went for it.

[RuB]

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!!!