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South Africa’s cheapest bank accounts

Approximately 75% of the South African adult population aged 16+, is considered “banked”. This includes around 10 million adults who receive social grants (SASSAA), of which 8.2 million (82%) receive less than R3000.00 per month according to FinMark Trust.

Not surprisingly, this leaves a huge gap in the market for the formal banking sector to grow their businesses with potential entry level banking customers.

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