CREDIT CARDS
Africa has second-highest level of credit card losses in the world
20 January 2017 - 08:10
The Africa region has the second-highest level of credit card losses in the world, even as profits from this segment promise to deliver an estimated $141bn to global banks for their 2016 financial years, according to research from the Lafferty advisory group. Growth in profits has been driven by a "dramatic" fall in losses in general on banks’ credit card portfolios, along with a doubling in credit card transactions.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.