The rapid closure of bank branches in South Africa,

Ettienne Moster discuss the rapid closure of bank branches in South Africa, highlighting that major banks like Standard Bank have cut physical branches by 42% since 2017, leading to a decline from 3,299 branches in 2023 to 3,290 in 2024 across major banks. Despite this, millions of South Africans remain unbanked, not due to lack of access—since 80 million adults in Sub-Saharan Africa have mobile phones and IDs—but because of distrust in the system, fear of fraud, unclear fees, and services that lack relevance to their needs. Ettienne Moster emphasizes that trust, empathy, and human-centered design are critical to bridging this digital divide. Applying design thinking principles can make financial services more inclusive, accessible, and trustworthy, helping banks, fintechs, and policymakers ensure digital finance truly benefits all South Africans, especially the unbanked population.