| South Africa plays leapfrog |
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| Innovation is the process of putting a good idea into practice. Effective innovation pushes back the frontiers of possibility and opens up opportunities that can change the quality of people’s lives. If it’s radical enough, innovation can deliver products and services that satisfy needs most people may not even know they have. |
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| Since 1990, creative energy, once absorbed by the Cold War has been free to flow into other more constructive arenas of global activity. This shift in focus has unleashed innovations that have changed people’s lives in many different ways. While the first wave of technological innovations passed some communities by, the subsequent waves are starting to reach even the most isolated communities. |
| In SA one of the major areas of innovation has been, and continues to be, in financial services. And much of the focus is on expanding these services to people who have been historically excluded from the benefits of financial services. A raft of initiatives is testing ways to make financial services affordable to people at the low end of the income spectrum. |
| Each month we will publish a brief description of one of them, starting with Capitec Bank’s prepaid debit card project in Qwa Qwa. |
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