Alli spoke calmly with no visual presentation slides and no cue cards and his message, both through his tone and its contents were not left open to interpretation. Although he steered cleared of the issues surrounding e-tolling, SANRAL, and a R20 billion debt he spoke about the ease of public and private business sentiment and the impact these have on government policy and strategy. He pointed out that the public sector has limited choice when it comes to procurement while the private sector has plenty enabling to keep its best interests at heart. He alluded to the irony of this as price collusion in tender bids remain a cause for suspicion — further pointing out that government does not dictate pricing.
Reflections on 20 Years 16 November Ann Miles marks a good year for financial inclusion.
Later, member countries at the UN General Assembly endorsed the Sustainable Development Goalswith financial inclusion being incorporated into those goals.
That trip, along with other experiences, compelled me to leave corporate banking for microfinance. This has allowed me to experience the evolution of microfinance to financial inclusion from different perspectives.
The transformation microfinance NGOs to banks, and their commercialization; The growth of microfinance investment funds; The first signs of trouble: Overall, these developments have been good for clients in that they have helped expand the range of financial service providers, increased the number of products and services, improved access to hundreds of millions of people, identified the need for client protection and transparency and brought financial inclusion into the development mainstream.
Central to this is a better understanding of what clients need and how financial services can be made available to them in ways that align with how they live their lives. This calls for paradigm shifts and approaches that put clients at the center of financial inclusion. The MasterCard Foundation follows this approach.
We have funded research and projects that focus on client centricity, the central theme of our annual Symposium on Financial Inclusion. This year, our key topics focus on client-centered leadership and organizational culture, the client experience and the business case for client centricity.
Speakers will represent telecoms, consumer goods companies, fintech firms, microfinance institutions, commercial banks, and insurance companies. We also award a prize to a developing country financial services provider for being best at client centricity.
We believe that by building this larger community, which shares best practices and challenges, client centricity will become embedded in the way these organizations work and create a broader demonstration effect.
Clients will not only access services but use them continuously and effectively to improve their lives. CGAP has been at the forefront of many of these developments over the past 20 years and has also invested heavily in client-centric work.
It has partnered with us in pilot projects, investing in new research and investigating the business case. Through it all, we have come to know that financial inclusion is not an end in itself.
The evidence is clear: Financial services have a positive impact on a variety of microeconomic indicatorsincluding self-employment, business activities, household consumption and well-being; There is a growing body of evidence i.
Access to formal savings options can boost household welfare; Micro-insurance can be an important mechanism for mitigating risk, especially for smallholder farmers; and Mobile money reduces household transaction costs and seems to improve their ability to share risk.
Today, globally and in Africa, we see examples of virtual banks that clients can access through mobile phones at lower cost, something unthinkable 20 years ago. Technology itself is addressing the age-old problem of account inactivity; look at Juntos Globalwhich uses SMS to engage with clients digitally and can increase account activity by 33 percent and average balance sizes by 50 percent.
Would we have envisioned this 20 years ago?The Future of Investment in Microfinance.
Introduction to Part III Transformation can be a step towards exit. Chapter 11 describes a transforma- refinement by both public and private sector financiers requires diligent institution building, competitive behaviour and a constant concern for corrective actions if.
The undersigned is associated with both the NGOs and NBFCs, who have been actively working in the field of Micro Finance, and from the dual experiences the above suggestions are given for regulating and supervising the Micro Finance sector. The Sixteenth Annual International Conference on Policy Challenges for the Financial Sector, co-hosted by the World Bank Group, the International Monetary Fund, and the Board of Governors of the Federal Reserve System, took place on June , in Washington, D.C..
The central theme of this year’s conference was “Finance in Flux: The Technological Transformation of the Financial Sector”. The Bai-Tushum project reflects IFC’s strategy of strengthening local financial institutions and expanding microfinance in the Kyrgyz Republic and Central Asia in order to support private sector development.
In , Dr. Nachiket Mor committee recommended differential licensing in the form of two categories: i) Payments Bank, and ii) Small Finance Bank (SFB) to further financial inclusion in India.
To develop, promote and regulate Microfinance activities so as to ensure good governance as a way of ensuring their sustainability and enhancement of their capacities to stimulate and enhance private sector development and be key players in rural and urban economic and social transformation in Malawi.