Among the metal shacks and narrow side streets of SA’s townships, one of the country’s biggest lenders sees a sizeable market it wants to be the first to crack: multimillion-rand businesses operating largely in cash.

FirstRand, SA’s biggest lender by market share, sees enterprises such as Ram Thapa’s, a beauty shop and fast-food outlet with combined annual turnover of R19m but no business account, as ripe targets for a host of financial products.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now