Incorporating the unbanked and uninsured into formal financial services in a sustainable way will not only help propel socio-economic development, it will provide a new market opportunity for the private sector. The challenges however, are that the most widely accepted methods of measuring financial inclusion do not incorporate the full spectrum of products (such as transaction accounts, credit, insurance and savings), and they only measure adoption without acknowledging the level of usage or sustainability.
Boston Consulting Group (BCG) recently undertook extensive research into the current state of financial inclusion in South Africa in an attempt to unpack the root causes of financial exclusion, and suggest a path forward that incorporates both government and the private sector. As a result, BCG has developed an innovative new approach and framework for thinking about, measuring, and improving financial inclusion which aims to assist policy makers and practitioners in identifying key issues, and developing initiatives, to improve delivery of financial services to low income segments of society.
Join the Centre for Dynamic Markets (CDM) for the launch of BCG's official report "Improving Financial Inclusion in South Africa" where key findings from the report and the new framework will be shared and discussed.
Adam Ikdal, Managing Partner: BCG South Africa
Euvin Naidoo, Partner and Managing Director: BCG South Africa
Reshma Sheoraj, Director of Insurance: National Treasury
Khulekani Mathe, Head of Financial Inclusion: Banking Association of South Africa
Cocktails served after the event