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This report provides an overview of the consumer financial services landscape in South Africa, based on data collected from consumer interviews

The report is built around three themes:

    • Consumer financial services penetration and key products
    • Access to credit
    • Banks brand awareness

Methodology

This report is based on 1,159 in-home face-to-face interviews conducted  in Johannesburg

  • Fieldwork dates: from January 5th to January 16th 2018
  • Coverage: all urban and peri-urban areas in Johannesburg
  • Sampling: Random selection of Primary Sampling Units (PSUs) by means of probability proportional to size (based on population of each administrative units within the city). Random selection of household within each PSU, and random selection of interviewee within the household (among those above 18 years old)

Collected data collected is post-weighted on the age and gender dimensions, according to South African demographics

How many people have an insurance policy in Johannesburg?

What are the main reasons why some people remain unbanked?

How many people know about the leading retail bank in the country?

These questions all find their answers in this report about consumer financial services in South Africa. The reports provides insights on financial products penetration, the credit landscape and the banking competitive landscape.

The report is based on data collected through more than 1,000 face-to-face interviews in January 2018 in Johannesburg, and provides a unique perspective of the consumer financial services landscape of the city.

Table of contents

  1. Introduction and methodology
  2. How South Africans bank: Top 3 facts    
  3. Financial products penetration
    1. Financial products penetration: population with at least one financial product
    2. Number of financial products owned per person
    3. Types of financial products owned per person
    4. Ownership of financial products by level of education and employment status
    5. Ownership of financial products by household income
    6. Main reasons for not having any financial products
  4. Credits and loans
    1. Percentage of loan holders in the population: total and by gender
    2. Sources of credit: percentage of loans by type of lender
    3. Consumer perception on access to credit and trustworthiness of local banks
    4. Consumer attitudes in relation to monthly budgeting of personal finances
  5. Competitive Landscape
    1. Unprompted brand awareness of major banks in South Africa
    2. Bank account ownership market shares

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How do South Africans bank? Consumer financial services in Johannesburg - February 2018 (Full report – Pdf)

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Key info

Research team