The credit bureau coverage in South Africa stood at 69% of the adult population in 2023. The forecasted data shows a steady increase year-on-year, with 70% coverage in 2024, 70.6% in 2025, 71.2% in 2026, 71.8% in 2027, and 72.4% in 2028. This represents a consistent annual growth rate, with a Compound Annual Growth Rate (CAGR) of approximately 1% over the forecasted period. The year-on-year increase notably points to an improving credit reporting infrastructure and increased financial inclusion.
Future trends to watch for include:
- Technological advancements in data collection and processing, which may further enhance the accuracy and inclusivity of credit reporting.
- Regulatory changes that could impact credit bureau operations and data privacy considerations.
- Efforts by financial institutions and government agencies to increase financial literacy and credit accessibility among the adult population.
