Affordable insurance for low-income market must be part of financial inclusion
We’re listening hard for discussion about improving financial inclusion in South Africa –and are happy that the debate is gaining momentum. Perhaps there are too many blinkers out there and rather too much readiness to be satisfied with general rather than specific outcomes.
FinMark Trust’s 2016 FinScope South Africa Survey on Financial Inclusion found 38.2 million adult South Africans (89% of all adults) have some type of financial account. This is defined quite broadly and includes both formal and informal accounts.