Tag: financial inclusion

Keep up to date on the most important Financial Services Regulation developments in South Africa in June 2021.

As a consequence of the global COVID-19 pandemic, companies and individuals have had to rapidly adapt to the 4th Industrial Revolution (4IR) to remedy the unprecedented socioeconomic challenges faced by consumers. A key facet of 4IR is a shift towards digitisation, and the vulnerable communities across the globe find themselves trailing even further behind in their endeavour for financial equity as a result.

COVID-19 has impacted the globe in unimaginable ways. While all industries and sectors have been altered to varying degrees Africa’s Technology, Media, and Telecom (TMT) sector has for the most part seen a boon because of the pandemic.

The recent economic reconstruction and recovery plan delivered by South African President Cyril Ramaphosa, emphasised the intention of Government to assist female-led businesses that have experienced hardships as a result of COVID-19.

Focused on meeting the financial needs of the most vulnerable citizens in society, financial inclusion is recognised across the globe as a critical component to economic development and advancement.

Driving financial inclusion amongst entrepreneurs and small business owners in Africa will ensure that they are equipped with the knowledge to transform their businesses into productive and sustainable contributors to the continent’s economy.