The purpose of this study was to determine the impact of Mzansi account initiative
on the performance of the Amalgamated Banks of South Africa (ABSA). Mzansi
account is a national entry level bank account that was launched in October 2004.
The Mzansi bank account was established to cater for the previously
disadvantaged people, living in remote and rural areas of South Africa.
The Mzansi account is a product of the voluntary commitment by the Financial
Services Sector as a response to the Government effort to address inequalities of
the past. Historically, banks among other service providers did not actively offer
banking services to poor people, especially those who lived in the rural and remote
areas.
This study examined how ABSA, in particular, reacted to Mzansi account
conceptualization. The study also looked at the financial and non-financial impact
of the implementation of the Financial Services Charter Initiative since 2004 until
2008. While the study focused on the charter since its conceptualisation, it also
tracked the performance of ABSA a year before the charter which is the year 2003.
Lastly, the study intended to evaluate the performance of ABSA, its macro and
micro environment and the present day business environment within the FSC
initiative scenario.
The data collection for the study was acquired through literature review,
observational study and case study research methodology. Findings of this study
show that Mzansi initiative was found to have been a worthwhile initiative that has
reached millions of low income people, who now have access to banking facilities
and a formal banking instrument. However, the Mzansi initiative has not added a
markedly value to the performance of ABSA bank. / Thesis (MBA)-University of KwaZulu-Natal, Westville, 2010.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:ukzn/oai:http://researchspace.ukzn.ac.za:10413/9528 |
| Date | January 2010 |
| Creators | Matsoha, Edith Likeledi. |
| Contributors | Geach, Walter D. |
| Source Sets | South African National ETD Portal |
| Language | en_ZA |
| Detected Language | English |
| Type | Thesis |
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