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Financial well-being of customer-to-customer co-creation experience: a comparative qualitative focus group study of savings/credit groups

Nkosinathi Sithole (La Trobe University – Bundoora Campus, Melbourne, Australia)
Gillian Sullivan Mort (Eudemonia Institute, Brisbane, Australia)
Clare D'Souza (La Trobe University – Bundoora Campus, Melbourne, Australia)

International Journal of Bank Marketing

ISSN: 0265-2323

Article publication date: 29 April 2021

Issue publication date: 8 June 2021




This paper aims to explore the effects of the customer-to-customer co-creation experiences of savings/credit groups in the African context and how savings/credit groups influence financial capability and enhance financial well-being.


Using purposive sampling, a study of a total of 18 focus groups was conducted in sub-Saharan Africa. Nine urban-based savings/credit groups were drawn from across South Africa and additional nine, rural-based savings/credit groups were studied in the Monduli district of Tanzania.


Findings demonstrate that the African philosophy of Ubuntu, which promotes customer-to-customer interaction, is the cornerstone of the customer-to-customer co-creation experience. Ubuntu philosophical principles were found to influence the dialogue, access, risk and transparency model of co-creation and customer-dominant logic. The results show further that customer-to-customer co-creation experience positively influences the cognitive, financial, personal and social experiences of members. Specifically, it was found that cognitive and financial experiences positively influence financial satisfaction, financial self-esteem, financial self-efficacy and financial capability, all of which enhance financial well-being. In addition, personal and social experiences positively influence equality, self-confidence, entrepreneurial skills and motivation that in turn enhance social well-being.

Research limitations/implications

This study has implications for many different stakeholders concerned with the financial inclusion of low-income consumers, particularly in the southern part of Africa.


To the authors’ knowledge, this is the first study to explore the effects of customer-to-customer co-creation experiences in traditional financial services settings in order to understand how these indigenous financial services influence the financial capability and financial well-being of co-creation members.



The authors would like to acknowledge the funding and support received from La Trobe University (Australia) which made this research possible.


Sithole, N., Sullivan Mort, G. and D'Souza, C. (2021), "Financial well-being of customer-to-customer co-creation experience: a comparative qualitative focus group study of savings/credit groups", International Journal of Bank Marketing, Vol. 39 No. 3, pp. 381-401.



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