Research has shown that insufficient access to financiers has led township residents to increasingly turn to stokvels.
The township must now be recognised as a sophisticated consumer database. The township market is the next big thing, and it's time to tap into this market with a strategic marketing and media plan that caters to the needs of this demographic.
I urge financial institutions to recognise the economic potential of the township market and give township residents the access they need to purchase homes through traditional channels.
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