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Financial decision-maker sentiment: South Africa

An ongoing look at how the attitudes of financial decision makers in South Africa are evolving during the COVID-19 pandemic.

Almost 100 percent of financial decision makers in South Africa view the current economy as weak with slightly less expecting it to worsen over the next three months. The majority of consumers have seen household income and savings decrease over the past month and express concern over job security. Many expect to increase usage of online and mobile banking after the crisis and sentiment towards bank performance is net neutral.

About the author(s)

Umar Bagus is a partner in McKinsey’s Johannesburg office, Francois Jurd de Girancourt is partner in the Casablanca office, and Michael Panek is a specialist in the New York office.

The authors would like to thank Resil Das, Harshit Gupta, and Aditya Singh for their contributions to this article.

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