insights | Reports

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Implementing Financial Action Task Force standards in develo...

This report, emanating from a project commissioned by the FIRST Initiative, considers the impact of the implementation of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) controls on financial inclusion in five countries (Indonesia, Kenya, Mexico, Pakistan and South Africa). Based on these findings, it develops a set of guidelines to assist the […]

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Money laundering and terror financing risk management of low...

When the South African anti-money laundering regulations were drafted in 2002, the Minister of Finance made an exemption to protect so-called mass market banking services products for the poor against negative compliance impact by the new system. This exemption, known as Exemption 17, relaxes the requirement to identify and verify a client’s residential address. Exemption […]

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Financial Service Access and Usage in Southern and East Afri...

1. FinScope surveys have been developed by FinMark Trust in order to track patterns of usage of, access to and attitudes towards financial services in a country on a nationally representative basis. 2. To date, FinScope-type surveys have been concluded in seven African countries – Botswana, Kenya, Namibia, South Africa, Tanzania, Uganda and Zambia – […]

FinScope
SADC FI
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Mobile Banking Technology Options

Much has been said about the potential for cell phone banking as it rides on the back of the explosion of cell phone usage in Africa and beyond (see Figure 1: African cell phone subscribers, BMI-T), and how it could dramatically lower the cost of banking and more effectively reach the mass market. Early pioneers […]

SADC FI
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Facilitating Southern African remittance networks

The intra-SADC remittance market is estimated to comprise at least R6.2bn in annual cross-border flows (or approximately US$1bn). However, much of this money travels via informal channels, to a large extent because the regulatory environment is not enabling. Barriers to the formalisation of remittances are strongest in anti-money laundering, exchange control and immigration legislation. The […]

SADC Payments and Remittances
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Mobile Banking: Implementation Choices

One of the key barriers to access to financial services to the poor and particularly to the poor living in remote rural areas is the price of being banked. The costs include both the fees charged by the financial institutions and the time and money required to access the banking infrastructure. The ability to make […]

SADC FI
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Enhancing access to banking and financial services in Botswa...

The banking sector plays a crucial role in any economy through the provision of financial intermediation and payments services. Through these services, banks enable the efficient allocation of savings and investment, and enable financial transactions to take place at minimum cost. In discharging these functions, Botswana’s banking sector has many strengths: it is reasonably efficient, […]

SADC FI
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The National Credit Act And Its Regulations In The Context O...

With its National Credit Act (2005) and Regulations (2006) the South African government is moving aggressively against predatory lending, consumer abuses and outdated, piecemeal and ineffective legislation on consumer credit. This paper analyses the potential impact of this Act and its regulations on access to all forms of financial services. The South African financial sector […]

SADC FI