When we at WSBI set out its Scale2Save Programme in 2016, we anticipated that customer centricity was a challenge for savings and retail banks in Africa. The programme’s first-ever study, "State of savings and retail banking Africa", released earlier this year, has proven that to be true. Based on responses to a survey of 34 WSBI Africa member institutions, the study shows that making small-scale savings work requires both more thought on the supply side, and a better acknowledgement of the needs of people – the demand side – too. The 50-page report is part of the research component of Scale2Save – a partnership between WSBI and Mastercard Foundation – and reveals that member banks offer an array of transaction and savings accounts as part of their drive to attract and satisfy customers.
Author: Ian Radcliffe - WSBI