https://techcrunch.com/2021/11/17/south-african-payments-gateway-ozow-raises-48m-series-b-led-by-tencent/

According to a 2019 report by Deloitte, about 80% of South Africans have a bank account but only 24% of them make more than three transactions monthly.

Unlike other African countries, South Africa also has a functioning credit system with the prevalent use of credit cards. However, expensive value-added services like credit cards do not necessarily address the needs of underbanked people.