The South African informal sector is a vibrant thread, pulsating with entrepreneurial energy. Valued at almost $10 billion annually and representing 17% of the country’s total employment.

Formal financial and economic inclusion remains pivotal in addressing the rampant inequality in many African economies today.

The modern world has moved towards digitisation, yet a significant gap remains in terms of financial and economic inclusion, particularly in Africa. Despite this, there is a substantial opportunity to harness the power of data to bridge this gap.

How can we support those working in the informal sector?

Community Digitalisation pocket guide

This summary guide of the report on the state of the digital payments ecosystem in South African townships (Hammanskraal and Tembisa) shares key insights and recommendations from research conducted in 2022.

Provide an in-depth understanding of community needs and attitudes vis-à-vis financial services, digital services, community structures and support services.

Remittances Market Assessment 2021 - Pocket guide

This pocket guide highlights key findings from the market assessment of remittance flows into and out of South Africa using SARB data and a mystery shopping exercise looking at the costs of remitting via various channels, from South Africa.

Remittances Market Assessment 2021

FinMark Trust conducted a market assessment of remittance flows into and out of South Africa using SARB data and a mystery shopping exercise looking at the costs of remitting via various channels, from South Africa to other countries in the SADC.

Sharing what the latest prices across various channels are – and discussing some of the most prominent developments in the market with experts from the field.

The Role of Remittances in Deepening Financial Inclusion

South Africa and Eswatini Remittances Corridor Diagnostic, this report is a compilation of research findings to inform the implementation of the IFAD’s Financial Inclusion and Cluster Development (FINCLUDE) programme in Eswatini.

Although women’s achievements, resilience and innovations exhibited during the Covid-19 pandemic are worth acknowledging, women continue to face various barriers.

This blog shares updates on the launched Income Relief Fund for Migrants to provide short term relief to SADC migrants and their families with support from FCDO

Access to basic services Botswana

This scoping study has been conducted to identify the barriers and opportunities to enable affordable digital delivery and access to basic services in Botswana.

Access to basic services Malawi

This scoping study has been conducted to identify the barriers and opportunities to enable affordable digital delivery and access to basic services in Malawi.

Access to basic services Eswatini

This scoping study has been conducted to identify the barriers and opportunities to enable affordable digital delivery and access to basic services in Eswatini.

Access to basic services Madagascar

This scoping study has been conducted to identify the barriers and opportunities to enable affordable digital delivery and access to basic services in Madagascar.

Access to basic services Lesotho

This scoping study has been conducted to identify the barriers and opportunities to enable affordable digital delivery and access to basic services in Lesotho.

The UK has announced a new package to reach 750 000 people in 8 countries across Southern Africa helping communities worst affected by the COVID-19 pandemic.

Limited support has been provided for economic migrants who send money home to support family members. See what support has been created for migrants in South Africa.

Across the continent there has been a very long debate about the payment of interest on mobile money. What has the experience been like in Zimbabwe?

South Africa to the Rest of SADC Remittance pricing report

In South Africa to the rest of SADC, Remittance Pricing report, presented are the findings from a mystery shopping exercise

SADC Remittance Values and Volumes 2020 report

Informal remittance markets in many countries are well established but often expose the remitter to delays and the risk of theft and other losses. 

South Africa to Rest of SADC Remittances 2020 Pocket Guide

Read more on the research findings on cross border remittances from South Africa to the rest of SADC 2020.

South Africa’s informal savings market thrives – R44 billion collectively saved in approximately 820,000 stokvels.

SADC Innovation and Investment Challenge

This report focuses on how FinMark Trust support in innovation that drives impact and enables marginalised communities to work towards sustainable livelihoods through financial inclusion.

Applying the Risk Based Approach in South Africa Report

Applying the Risk-Based Approach – Undertaking AML/CTF Risk Assessment of low-value remittance and banking products and services in South Africa

While financial inclusion has risen to 68% globally, Sub Saharan Africa continues to lag with only 32% of its citizens having an account at a financial institution.

The Shoprite cross-border money remittance product reached the R1 billion mark in January 2019

Understanding the remittances from Botswana to Zimbabwe

The Zimbabwean economy has been under severe pressure for many years now

In mid-July, FinMark Trust and Bankable Frontiers Associate (BFA) set off to Malawi to conduct a feasibility study of the potential of a digital financial identity

Malawi Digital Financial ID Feasibility Assessment

The feasibility assessment aimed to provide recommendations on the use cases of domestic financial inclusion the digital financial ID

The current economic situation in South Africa presents a large number of people relying on the informal economy,

Watch our video where we speak to four of our beneficiaries to hear how our work in KYC, remittances and the risk-based approach are actually making a difference

SADC Mobile Money Guidelines

The aim of the project is to develop Mobile Money guidelines to assist SADC Member States with principles to facilitate the harmonisation

Understanding Global Remittances Corridors in the DRC (French)

The DRC has a long standing history of migrant flows, and historically flows to and from Europe have been of particular importance.

Understanding Global Remittances Corridors in the DRC (English)

The DRC has a long standing history of migrant flows, and historically flows to and from Europe have been of particular importance.

The current global remittance market is estimated to be in the region of USD 500 billion annually and is expected to grow in future.

SADC migrants in South Africa remit approximately R16.6 billion home annually.

Access to formal remittance services is difficult for many migrants because of the onerous documentation requirements.

Research Report on Mobile Money in South Africa

The research report study focused on the factors that drove the termination of mobile money services in South Africa.

Cross-Border Remittance Pricing

This report was commissioned by FinMark Trust and carried out through Genesis to assess the cost of cross-border remittances in South Africa.

The Impact of Remittances in Lesotho, Malawi and Zimbabwe

Households in sub-Saharan Africa have a long tradition of cross-border migration and associated remittances.

Remittance markets comprise both a commercial opportunity for financial sector operators, and an important means of supporting impoverished communities.

Digitisation of social grant payments and financial inclusion

A quarter of South Africans rely on social grants and the grant allows millions to access formal financial services.

Cross-Border Remittances 2016

This report provides an update on the available money transfer offerings that facilitate remittance flows from South Africa to other countries in SADC.

The role of mobile money in financial inclusion in the SADC region

This paper presents a cross-country comparison of mobile money ownership and its determinants together with the factors affecting mobile money adoption.

FICA Act: Pre-implementation Study in South Africa

See the Financial Intelligence Centre Amendment (FICA) Act: Pre-implementation Study in South Africa report.

Why use accounts: Understanding account usage through a consumer lens

Over the past five years, the move towards digital financial services and simplified account opening procedures has improved the take-up of accounts by the poor.

Legal and Regulatory Framework for Payments in 14 SADC States

The first step in a long journey towards a harmonised legal and regulatory framework for payments in the SADC.

Remittances from South Africa to SADC

It is well known that there are large remittance flows from South Africa to other countries in the SADC region and that a substantial proportion of such flows are informal