The questions that need to be defined, perhaps, are what is meant by a black bank; would it be black owned; would it be black controlled or managed; would it cater only for black people; or would it be a successful combination of all of the above? The main issue in the emergence of banks geared towards low-income earners - who are mainly black - is that the scope of products offered revolves largely around micro loans. If there are any complementary services, they are usually limited to funeral policies or some form of unsecured lending that doesn't promote long-term planning for customers or the buying of assets. "We need more coalescence and understanding when we think about what we're trying to solve when we say we need a black bank," said Sonja de Bruyn Sebotsa, the founder of Identity Partners, a private equity firm that funds black women entrepreneurs. Product offerings should be priced appropriately and be "inclusive and cater for a diverse set of needs". "If, in retail banki...

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