The National Treasury, on 28 October 2020 published the first draft of the Financial Inclusion Policy Paper, “An Inclusive Financial Sector For All” for public comment.
The draft Financial Inclusion Policy establishes a policy framework for financial inclusion in South Africa, sketches the approach to implementing the policy, and provides a basis on which the financial services sector, regulators and all relevant stakeholders will promote and support financial inclusion. The draft Paper was released to solicit comments from the public by 04 December 2020 in an effort to inform the development of a comprehensive national financial inclusion strategy.
As 27four, we are committed to deepening financial inclusion and contributing to the achievement of the Sustainable Development Goals. Although the proposals for action are a mixture of concepts and detailed activities, the document certainly provides a comprehensive and well thought out framework for further debate with the market and civil society in general.
Read our analysis on the Paper to learn how this framework will progress financial inclusion and what the next steps following the finalisation of the framework will be to develop a National Financial Inclusion Strategy and a Financial Inclusion Monitoring and Evaluation Framework in 2021.