Bank account penetration rate in South Africa 2011-2021

Published by
Natalie Cowling,
Jan 25, 2024
In 2021, some 85 percent of the South African adult population had an account in a bank or a financial institution. In the last decade, the bank penetration in the country grew significantly from around half the population in 2011 to the above-mentioned share in 2021.

Bank account penetration rate in South Africa from 2011 to 2021

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Release date

2022

Region

South Africa

Survey time period

2011 to 2021

Number of respondents

1,014 respondents

Age group

15 years and older

Special properties

population with an account at a bank or another financial institution

Method of interview

Face-to-face interviews, telephone interviews

Supplementary notes

The data collection took place between August 6 to November 8, 2021.

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