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FinScope Malawi 2008 For FinMark Trust

FinScope Malawi 2008 was commissioned by the Ministry of Finance and the FinMark Trust, with funding from the United Kingdom?s Department for International Development, to understand adult Malawians financial lives. The objective of the survey was to inform financial sector policymakers and financial service providers with insights about adults financial needs, preferences and attitudes towards […]

FinScope
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The Mzansi Bank Account Initiative

1. The Mzansi account is an entry-level bank account, based on a magnetic stripe debit card platform, developed by the South African banking industry and launched collaboratively by the four largest commercial banks together with the state-owned Postbank in October 2004. By December 2008, more than six million Mzansi accounts had been opened, a significant […]

SADC FI
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The potential for mobile phone banking in Zambia

Financial systems in Africa have been strengthened by a number of reforms in recent years. This has allowed banks and other players to diversify their activities, deepen their lending and increase their reach with new products and technology. One of these is the mobile phone. Mobile phones – also known as cellular phones or cellphones […]

FinScope
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Landscape for Consumer Recourse in South Africa’s Fina...

Consumer protection and education are important in all financial service markets, but particularly in South Africa, where the policy, legal and regulatory environments are being changed in an effort to improve access to financial services. As access to financial services increases, less literate, more vulnerable consumers are likely to enter the market and will need […]

SADC FI
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FinScope Rwanda 2008

Rwanda has adopted a Financial Sector Development Program (FSDP) in order ‘to develop a stable and sound financial sector that is sufficiently deep and broad, capable of efficiently mobilizing and allocating resources to address the development needs of the economy and reduce poverty’. The FSDP has been made one of the key components in the Economic […]

FinScope
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Developing a Broad-Based Employee Pension Scheme for Botswan...

The evaluation and reform of Botswana’s system of pension provision is prompted by three main observations, namely high levels of poverty in old age which will persist unless broader pension participation is ensured; low levels of long-term household savings; and rapid economic development, which can make a broaderbased pensions system affordable. This research study identifies […]

SADC FI
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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