FinMark Trust, in partnership with SADC Secretariat and the SADC Banking Association is proud to have co-hosted the second Financial Inclusion Indaba on the 13th and 14th of July in Centurion, South Africa.
Across the African continent, governments have begun to realise the pivotal role financial inclusion can play in combatting poverty and contributing to inclusive economic growth. Growing bodies of evidence have shown that financial sector deepening is crucial to the process of economic development, and how finance can positively impact the poor by reducing income inequality and expanding employment. Recent innovations in financial services for low-income groups, in particular, has shown governments how financial inclusion can strengthen the resilience of vulnerable and marginalised populations. As a result, a number of countries on the continent and in the region have begun to develop national financial inclusion strategies and spearhead key programs and initiatives to improve financial markets.
The Indaba focused on:
- Exploring the key drivers of financial inclusion in the region;
- Reviewing progress on financial inclusion with a view to sharing and learning from country successes and best practice;
- Strengthening regional approaches to driving financial inclusion at country and at regional level; and
- Exploring key emerging themes in financial inclusion such as:
- Payments, Remittances, and Digital Finance
- Credit markets and Micro Finance
- Managing risks, Saving, and Micro Insurance
- Consumer Empowerment
- SMME Finance
Concrete recommendations on the above issues were made for the consideration of the SADC Ministers of Finance at their meeting at the end of July 2017. See here to view the presentations.
Click here to find the report of the second Financial Inclusion Indaba.