Account ownership at a financial institution or with a in South Africa
South Africa: Account ownership at a financial institution or with a was 66.6% in 2024. ▲ Rising
Account ownership at a financial institution or with a in South Africa, 2011–2024
Source: Global Findex Database, World Bank (WB). Measured in % of population ages 15-24.
Analysis
The most recent figure for account ownership at a financial institution or with a in South Africa is 66.6%, measured in 2024.
The figure is down 15.8% on the previous year and up 24.5% over ten years.
Over the whole period, account ownership at a financial institution or with a in South Africa peaked at 79.1% in 2021 and was at its lowest, 40.8%, in 2011.
That places South Africa 55th out of 106 countries with data for 2024, putting it in the middle of the range.
Account ownership at a financial institution or with a in South Africa, year by year
| Year | % of population ages 15-24 | Change |
|---|---|---|
| 2011 | 40.8% | — |
| 2014 | 53.5% | +31.3% |
| 2017 | 62.9% | +17.6% |
| 2021 | 79.1% | +25.7% |
| 2024 | 66.6% | -15.8% |
South Africa compared with similar countries
- South Africa's 66.6% is above the median for upper middle income countries, which is 62.0%, 1.1× the median. (37 countries reporting)
- South Africa's 66.6% is above the median for Sub-Saharan Africa, which is 53.2%, 1.3× the median. (19 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 52.4% | 40.8% | 62.9% | 3 |
| 2020s | 72.8% | 66.6% | 79.1% | 2 |
Countries ranked near South Africa
- 52 Kazakhstan 68.3% compare
- 53 Costa Rica 67.1% compare
- 54 Uganda 66.7% compare
- 56 Türkiye 65.2% compare
- 57 Saudi Arabia 64.9% compare
- 58 Armenia 63.7% compare
More financial sector data for South Africa
- Reserve position in the IMF, US dollar, annual growth rate 5.08 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 13.81 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0.0607 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 10.08 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.08 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 13.81 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0.0607 % change on previous year (2025)
Frequently asked questions
- What is account ownership at a financial institution or with a in South Africa?
- Account ownership at a financial institution or with a in South Africa was 66.6% in 2024, according to Global Findex Database, World Bank (WB).
- What is the highest account ownership at a financial institution or with a recorded in South Africa?
- The highest recorded value was 79.1% in 2021.
- What is the lowest account ownership at a financial institution or with a recorded in South Africa?
- The lowest recorded value was 40.8% in 2011.
- How does South Africa rank for account ownership at a financial institution or with a?
- South Africa ranks 55th out of 106 countries with data for 2024.
- Is account ownership at a financial institution or with a rising or falling in South Africa?
- Over the last ten years it is up 24.5%. The long-run trend across the full record is rising.
- Where does this South Africa data come from?
- The figures come from Global Findex Database, World Bank (WB), published as part of Account ownership at a financial institution or with a mobile-money-service provider, young adults (% of population ages 15-24). Statizoid updates them automatically from the source API.
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About this data
Account denotes the percentage of respondents who report having an account (by themselves or together with someone else) at a bank or another type of financial institution or report personally using a mobile money service in the past 12 months (young adults, % of population ages 15-24).