The year 2017 earmarks a new FinMark Trust (FMT). In 2016, the Board and Management conducted a systematic review of our operations and relevance as market facilitators in South Africa and the Southern African Development Community (SADC) region. After considering the critical internal and external success factors, it is exciting to announce that we are to continue and strengthen our role in making financial markets work for the poor.
Strategic Focus Areas
In response to changes in FMT’s funding sources, focus areas and operating model, our programmes will be more targeted on the areas where we have had the greatest impact and include:
- A dedicated South Africa programme which will contribute to deepening financial inclusion and allow FMT to leverage learnings for wider impact across SADC
- A SADC regional financial inclusion programme in partnership with the UNCDF across 8 countries building on the Making Access Possible (MAP) programme
- Continued implementation of the global Insight2Impact (i2i) facility programme co-hosted with the Cenfri and funded by the Bill & Melinda Gates Foundation and the MasterCard Foundation
- Implementing next generation FinScope surveys funded by partners in the region and beyond
FinMark Trust New Leadership
This next chapter will be led by a new management structure. This will take advantage of our existing expertise while acknowledging that an evolving landscape requires new skills. The board has made the following decisions to ensure effective governance with responsive and strategic leadership:
- Mr Ishmael Mkhabela (Trustee) has been delegated the responsibility to provide direct support to the FMT office and also ensure that the Board is more responsive to organisational changes during this transition
- Dr Prega Ramsamy will be responsible for SADC engagements to ensure FMT operates with the support of key SADC structures and to develop new work and funding opportunities in the region
- Advocate Brendan Pearce will be responsible for overseeing and directing all the strategic and operational functions of FMT.