Banking on the unbanked
Reaching out to the poor
NO ONE expected such success. Less than seven months after its launch, the Mzansi bank account, a basic account designed to bring the many South Africans who stash their cash under a mattress into their country's sophisticated financial system, has just won its millionth customer.
This article appeared in the Finance & economics section of the print edition under the headline “Banking on the unbanked”
From the May 28th 2005 edition
Discover stories from this section and more in the list of contents
Explore the editionDiscover more
The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election victory
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer