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and after an agreed period receives a lump sum payment. This could be a month or year. Because the ‘investment’ period is short term, this can be considered a savings rather than investment vehicle, as little or no interest or market-related returns are accrued.
The  nancial sector of the South African economy can be considered a dual system. At the heart of the industry lies exclusion of the larger population and where applicable, only basic  nancial knowledge and utilisation of product. While at the same time, South Africa has historically been known for being leaders in certain areas. Arbitrarily, in 2008, South Africa was the largest market for single stock futures trading in the world, only to be dethroned by India in 2009.
The South African  nancial sector is a microcosm of the country in general, with
a small part of the population participating
in a developed world economy, while the larger population is unable to access features of this economy. The good news is that the South African banks are focusing more and more on the under banked in the country and making it easier for customers to access banking facilities via mobile applications. At the same time, there is likely to be stronger price competition for banking products as witnessed in the customer growth numbers in the banks that o er cheaper facilities. It
is a sector fast evolving and becoming more customer-centric.

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