An investigation into factors impacting financial exclusion at the bottom of the pyramid in South Africa

Figures & data

Table 1. Frequency measures for the key variables.

Variable	Value	Frequency	%	Cumulative %
Gender	Female	382	61.2	61.2
	Male	233	37.9	100.0
	Total	693	100.0
Area	Metropolitan	132	21.5	21.5
	Non-metropolitan	483	78.5	100.0
	Total	615	100.0
Home ownership	Owns home with a mortgage	5	0.8	0.8
	Owns home without a mortgage	445	72.4	73.2
	Rents the home	46	7.5	80.7
	Does not own and not paying rent	100	16.3	96.9
	Other	19	3.1	100.0
	Total	615	100.0
Primary source of income	Formal employment	129	21.0	21.0
	Money from others	113	18.4	39.3
	Government grants	247	40.2	79.5
	Informal employment	84	13.7	93.2
	Self-employment	33	5.4	98.5
	Other	9	1.5	100.0
	Total	615	100
Number of dependents	0	53	8.6	8.6
	1	151	24.6	33.2
	2	113	18.4	51.5
	3	107	17.4	68.9
	4	75	12.2	81.1
	5	48	7.8	88.9
	6 or more	68	11.1	100.0
	Total	615	88.9
Language	Afrikaans	39	6.3	6.3
	English	2	0.3	6.6
	IsiNdebele	11	1.8	8.5
	IsiXhosa	141	22.9	31.4
	IsiZulu	155	25.2	56.6
	Sepedi	79	12.8	69.4
	Sesotho	50	8.1	77.6
	Setswana	60	9.8	87.3
	SiSwati	23	3.7	91.1
	Tshivenda	23	3.7	94.8
	Xitsonga	32	5.2	100
	Total	615	100
Relationship status	Married or living together	200	32.5	32.5
	Single or never married	322	52.4	84.9
	Widowed	65	10.6	95.4
	Separated	17	2.8	98.2
	Divorced	10	1.6	99.8
	Other	1	0.2	100.0
	Total	615	100.0
Education	No schooling	42	6.8	6.8
	Primary schooling	139	22.6	29.4
	Some high schooling	295	48.0	77.4
	Matric	120	19.5	96.9
	Apprenticeship	4	0.7	97.6
	Diploma	10	1.6	99.2
	University degree	5	0.8	100.0
	Total	615	100.0

Table 2. Results of the logistic regression.

Variable	B	S.E.	Wald	df	Sig.	Exp(B)
Age (A)	0.027	1.330	9.967	1	0.002	0.015
Gender (G)	0.249	0.234	1.128	1	0.288	1.283
Area (R)	0.380	0.265	2.064	1	0.151	1.463
Home ownership (H)			2.766	4	0.598
Source of income (I)			50.405	14	0.000
Number of dependents (D)			13.538	6	0.035
Language (L)			19.698	10	0.032
Marital status (M)			0.411	5	0.995
Educational level (E)			48.367	6	0.000
Constant	–4.198	1.330	9.967	1	0.002	0.015
	Predicted
		Banking status		Percentage correct
Observed		No	Yes
Banking status	No	179	97	64.9
	Yes	84	255	75.2
Overall percentage				70.6

Hosmer and Lemershow test: step 1, chi-square = 5.243, df = 8, sig. = 0.731.

Table 3. Results of the logistic regression with significant variables.

Variable	B	S.E.	Wald	df	Sig.	Exp(B)
Age (A)	0.027	0.010	7.099	1	0.008	1.027
Source of Income (I)			50.713	14	0.000
Number of dependents (D)			14.340	6	0.026
Language (L)			22.814	10	0.011
Educational level (E)			51.238	6	0.000
Constant	0.886	1.866	0.226	1	0.635	2.426
	Predicted
		Banking Status		Percentage
Observed		No	Yes	Correct
Banking status	No	181	95	65.6
	Yes	88	251	74.0
Overall percentage				70.2

Hosmer and Lemershow test: Step = 1, chi-square = 4.989, df = 8, sig. = 0.759.