Financial Services to the Unbanked: the case of the Mzansi intervention in South Africa

The Mzansi intervention is a major initiative designed to provide banking service to the unbanked South African population. This study investigates the underlaying variables that define the choice of a Mzansi account from a consumer perspective. Unlike previous studiess, We do not assume that demand for financial service is given but insted that is underline by perceptions and attidues. Finacial attitudes and perceptions are found to exert significant effects on financial choices. In particular, aspirations and forward-looking values are instrumental in facilitating acess to finance.