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As South Africa, along with the rest of the world, strives to jump-start the economy after its unprecedented hiatus, Borderless Access shares the financial and banking behaviour of our citizens. We provide a glimpse into how South Africans bank, what financial decisions they have made, both pre and during COVID-19, and understand where they invest their hard-earned money.

As digitization makes its way into Africa across sectors and industries, digital payment methods are being offered as safe and convenient alternatives to traditional options.

As national lockdown extends, South Africans’ greatest COVID-19-related concern is the economy.  This is even more top-of-mind for most citizens than concern over their family’s health care needs, which features as their second most pressing concern.

The South African economy has been struggling for a while now, with its recovery further hampered by the country’s acute energy shortages and resultant load shedding. President Cyril Ramaphosa, in his 2020 State of the Nation Address, was candid about the prolonged economic slump, stating, “Our economy has not grown at any meaningful rate for over a decade”. He stated unequivocally that the load shedding was having a “debilitating” effect on the country.