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Three-quarters of adult South Africans have bank accounts, and women generally have equal access to formal financial services. Several mobile money payment systems, initiatives to digitise government transfers, and an extensive banking infrastructure all support financial inclusion.
The percentage of South Africans with a bank account increased from 47% in 2005 to 63% in 2011 after the launch of the country's first Financial Sector Charter, Finance Minister Pravin Gordhan said at the opening of the 4th Global Policy Forum in Cape Town on Wednesday.
South African households' vulnerability to hunger has declined in the past 10 years, from 23.8% in 2002 to 11.5% in 2011, Statistics South Africa reports in its latest General Household Survey.
Businesses across Africa are expecting a revolution in internet access, costs and technology as a result of the rush of new undersea cables connecting the continent, a new report finds, with wider access also driving increased use of social networking as a business tool.
Capetonians who do not own computers or who cannot afford to use internet cafés can now access both, free of charge, through the City of Cape Town's expanded Smart Cape Access Project.