Bloomberg
Bloomberg zeroes in on BCG’s joint report with Discovery Bank titled “The Future of Retail Banking in South Africa,” which assesses the feasibility of the country’s digital banking transition. The report found that South Africans maintain a high reliance on physical currency due to the expenses of online banking, with almost all surveyed customers withdrawing cash at least once a month. According to the report, regulatory changes will be needed in South Africa to increase both the accessibility and attractiveness of a cashless system.