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An investigation into factors impacting financial exclusion at the bottom of the pyramid in South Africa

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  • John P Wentzel
  • Krishna Sundar Diatha
  • Venkata Seshachal Sarma Yadavalli

Abstract

Financial exclusion has been shown to have negative socio-economic effects on citizens, especially at the bottom of the economic pyramid. South Africa suffers from high levels of financial exclusion, disproportionately at the bottom of the pyramid. This study investigates nine factors identified from the literature as being positively associated with financial exclusion using a logistic regression model. The findings show that the most significant factors associated with being financially excluded at the bottom of the pyramid in South Africa were educational level, primary source of income, age, home language and number of dependents. The study further found that gender, relationship status and home ownership were not associated with being financially excluded. An interesting finding was that living in a rural area as opposed to an urban area was not significantly associated with being excluded. The findings and their implications for expanding financial inclusion at the bottom of the pyramid are discussed.

Suggested Citation

  • John P Wentzel & Krishna Sundar Diatha & Venkata Seshachal Sarma Yadavalli, 2016. "An investigation into factors impacting financial exclusion at the bottom of the pyramid in South Africa," Development Southern Africa, Taylor & Francis Journals, vol. 33(2), pages 203-214, March.
    • Handle: RePEc:taf:deveza:v:33:y:2016:i:2:p:203-214
    DOI: 10.1080/0376835X.2015.1120648
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    Cited by:

    1. Olayinka David-West & Oluwasola Oni & Folajimi Ashiru, 2022. "Diffusion of Innovations: Mobile Money Utility and Financial Inclusion in Nigeria. Insights from Agents and Unbanked Poor End Users," Information Systems Frontiers, Springer, vol. 24(6), pages 1753-1773, December.
    2. Mhlanga David & Denhere Varaidzo, 2020. "Determinants of Financial Inclusion in Southern Africa," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 65(3), pages 39-52, December.
    3. Marybeth-Rouse & Bernardo Batiz-Lazo & Santiago Carbo-Valverde, 2023. "Financial inclusion in South Africa - Influencing factors and public policy," Papers 23001, Working Papers of Business and Economics School. Anahuac University (Mexico)..
    4. Sylwia Klus & Magdalena Kozera-Kowalska & Anna Ostrowska, 2021. "The Phenomenon of Financial Exclusion in Rural Areas – Case Studies of the Gołdapski County," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 787-798.
    5. Guillermo Boitano & Deybi Franco Abanto, 2020. "Challenges of financial inclusion policies in Peru," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 12(1), pages 89-117, June.
    6. Shani Bashiru & Alhassan Bunyaminu & Ibrahim Nandom Yakubu & Mamdouh Abdulaziz Saleh Al-Faryan, 2023. "Drivers of Financial Inclusion: Insights from Sub-Saharan Africa," Economies, MDPI, vol. 11(5), pages 1-11, May.
    7. Molla, Alemayehu & Biru, Ashenafi, 2023. "The evolution of the Fintech entrepreneurial ecosystem in Africa: An exploratory study and model for future development," Technological Forecasting and Social Change, Elsevier, vol. 186(PA).

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