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Migrants and access to financial services : exploring alternative financial services available to Zimbabwean migrants who have no access to formal financial services in South Africa
Dissertation (MSocSci)--University of Pretoria, 2019.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2020
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| _version_ | 1867613489253580800 |
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| access_status_str | Open Access |
| author2 | Thebe, Vusilizwe |
| author_browse | Thebe, Vusilizwe |
| author_facet | Thebe, Vusilizwe |
| collection | Thesis |
| dc_rights_str_mv | © 2020 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Dissertation (MSocSci)--University of Pretoria, 2019. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/76820 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:36:57.501Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2020 |
| publishDateRange | 2020 |
| publishDateSort | 2020 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/76820 Migrants and access to financial services : exploring alternative financial services available to Zimbabwean migrants who have no access to formal financial services in South Africa Thebe, Vusilizwe u14189845@tuks.co.za Chauke, Beverly Thandeka UCTD Migrants Zimbabwean migrants Access to financial services Alternative financial services South Africa Formal financial services Economic opportunities Economic migration Demographic profile Quality of life Exclusion Informal sector Social networks Location Migration policy Mainstream financial sector ZSP (Zimbabwe Special Permit) Music theses SDG-04 SDG-04: Quality education Music theses SDG-08 SDG-08: Decent work and economic growth Music theses SDG-10 SDG-10: Reduced inequalities Music theses SDG-16 SDG-16: Peace, justice and strong institutions Dissertation (MSocSci)--University of Pretoria, 2019. This study explores the issue of migrants and their access to financial services. It focuses on Zimbabwean migrants in South Africa and the alternative financial services available to those who do not have access to formal financial services. Most Zimbabwean migrants in South Africa are economic migrants who migrated with the intensions of utilising the better economic opportunities available in South Africa. Even though Zimbabwe has a long history of migration to South Africa the economic crises in the post 2000 error has triggered a huge increase in the ‘flow’1 of the number of migrants into South Africa. The demographic profile of the migrants has changed overtime from mainly male skilled migrants to including both male and females who are skilled professionals, semi-skilled and unskilled workers. They all have one thing in common which is the search for better economic opportunities to improve and maintain a good quality of life. Financial services are an important aspect in them achieving their goals upon migration. These services are crucial in maintaining a good life, as they need them to perform transactions such as paying bills, credit, remittances and saving. However due to their legal status and other challenges such as regulations, costs, trust, location, knowledge and product design many Zimbabwean migrants are excluded from the mainstream financial sector. This forces them to rely on alternative services provided in the informal sector. Several efforts and mechanisms go into making use of these including relying on one’s social networks and relatives. They are not only a source of information but can provide a needed service themselves or access to it. These alternative financial services are well suited for these financially excluded migrants due to their accessibility and the minimum requirements and regulation in the sector. However, this does not mean that they are perfect as migrants do face challenges when making use of these services, but have no choice due to their desperate situation. The study pays great attention to the utilisation of these alternative services and the challenges that migrants face when making use of them and the solutions adopted if there are any. The study concludes that adjustments in migration policy need to be by introducing a new stable project to replace ZSP. This should enable migrants to easily renew their permits and deal with the issue of uncertainty. Additionally, those migrants that have been under the ZSP project that are past the qualification period for permanent residence should be granted their permanent residence. With regards to the financial sector an easing of requirements such as credit histories should be made to allow those with valid documents such as passports to access services in the mainstream sector. It is important to note that the existence of an informal financial sector is not only a good market opportunity for those in the mainstream financial sector, but it is also a great contribution to the South African economy. Thus, it is worthwhile including these financially excluded migrants into the mainstream financial sector as it not only benefits the migrants but also benefits the country. ae2025 Music MSocSci Unrestricted SDG-04: Quality education SDG-08: Decent work and economic growth SDG-10: Reduced inequalities SDG-16: Peace, justice and strong institutions 2020-11-04T15:09:59Z 2020-11-04T15:09:59Z 20/04/17 2019 Dissertation Chauke, BT 2019, Migrants and access to financial services : exploring alternative financial services available to Zimbabwean migrants who have no access to formal financial services in South Africa, MSocSci Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/76820> A2020 http://hdl.handle.net/2263/76820 en © 2020 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Migrants Zimbabwean migrants Access to financial services Alternative financial services South Africa Formal financial services Economic opportunities Economic migration Demographic profile Quality of life Exclusion Informal sector Social networks Location Migration policy Mainstream financial sector ZSP (Zimbabwe Special Permit) Music theses SDG-04 SDG-04: Quality education Music theses SDG-08 SDG-08: Decent work and economic growth Music theses SDG-10 SDG-10: Reduced inequalities Music theses SDG-16 SDG-16: Peace, justice and strong institutions Migrants and access to financial services : exploring alternative financial services available to Zimbabwean migrants who have no access to formal financial services in South Africa |
| title | Migrants and access to financial services : exploring alternative financial services available to Zimbabwean migrants who have no access to formal financial services in South Africa |
| title_full | Migrants and access to financial services : exploring alternative financial services available to Zimbabwean migrants who have no access to formal financial services in South Africa |
| title_fullStr | Migrants and access to financial services : exploring alternative financial services available to Zimbabwean migrants who have no access to formal financial services in South Africa |
| title_full_unstemmed | Migrants and access to financial services : exploring alternative financial services available to Zimbabwean migrants who have no access to formal financial services in South Africa |
| title_short | Migrants and access to financial services : exploring alternative financial services available to Zimbabwean migrants who have no access to formal financial services in South Africa |
| title_sort | migrants and access to financial services exploring alternative financial services available to zimbabwean migrants who have no access to formal financial services in south africa |
| topic | UCTD Migrants Zimbabwean migrants Access to financial services Alternative financial services South Africa Formal financial services Economic opportunities Economic migration Demographic profile Quality of life Exclusion Informal sector Social networks Location Migration policy Mainstream financial sector ZSP (Zimbabwe Special Permit) Music theses SDG-04 SDG-04: Quality education Music theses SDG-08 SDG-08: Decent work and economic growth Music theses SDG-10 SDG-10: Reduced inequalities Music theses SDG-16 SDG-16: Peace, justice and strong institutions |
| url | http://hdl.handle.net/2263/76820 |