Most popular banks in SA townships
A survey by Ikapadata, a research company based in Cape Town, showed which bank is most popular among township residents in Johannesburg, Durban, and Cape Town.
Ikapadata surveyed 1,008 participants during April 2012 in various townships, with 84% of respondents saying that they have a bank account.
Of the township residents surveyed, 25% indicated that they use their cellphones for accessing their bank accounts or sending money to other cellphone users via mobile money services.
16% said that they have a mobile money account with FNB eWallet, M-Pesa, MTN Mobile Money, or WIZZIT.
Ikapadata said its survey found that the most popular bank was Standard Bank, where 31% of banked respondents (n=832) claim to have an account.
ABSA, Capitec and FNB were all tied for fourth place at 24%, while Nedbank had the fifth spot with 14% of the accounts.
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