SADC Financial Inclusion Indaba for economic growth and poverty alleviation 23-24 July 2015, Johannesburg

SADC Financial Inclusion Indaba for economic growth and poverty alleviation 23-24 July 2015, Johannesburg  

Johannesburg, 20 July 2015: FinMark Trust, in partnership with the SADC Secretariat, South African National Treasury and the SADC Banking Association, will host an SADC Financial Inclusion Indaba from 23-24 July 2015, in Johannesburg, South Africa.  The overall aim of the Indaba is to promote financial inclusion in the SADC region for the purpose of inclusive economic growth and poverty alleviation. Minister of Finance, Mr Nhlanhla Nene will deliver the keynote address.

Enhancing financial inclusion with a view to improving the lives of the people is at the heart of the SADC’s Regional Indicative Strategic Development Plan (RISDP). The RISDP is the region’s development and implementation framework that guides the integration agenda, with a view to accelerating poverty eradication and attaining economic and non-economic development goals.Considering that financial inclusion is a key enabler in the fight against poverty and inequality in the region, the Indaba is intended to bring together public and private sector stakeholders in the region to share and develop successful approaches to increasing financial inclusion. In attendance will be representatives from 13 countries in the SADC region (Botswana, DRC, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, South Africa, Swaziland, Tanzania, Zambia, and Zimbabwe) from both the private and public sectors, together with participants from donor organisations, civil society institutions and regulatory bodies.

The Indaba will provide a platform to take stock of the various policy initiatives at country level to promote financial inclusion and to assess the impact on the livelihoods of the most vulnerable sections of the population. It will also draw on the experience of South Africa, which has focussed on increasing financial inclusion over the last decade, with resultant successes and unintended consequences.The key objectives of the Indaba are: To raise the profile of financial inclusion, both at country and regional level, with emphasis on areas such as women and youth financial inclusion, agricultural finance for smallholder and small-scale farmers, rural access to financial services and small-and medium-enterprises access to financial services; To encourage and enable public and private sector stakeholders in the region’s financial services sector to interact and exchange approaches and experiences on financial inclusion, thereby deepening capacity across the region to understand and implement effective financial inclusion programmes; To discuss the need for on-going engagements on financial inclusion in the SADC region.

Although country-based financial inclusion policy and interventions are necessary, given country-specific environmental, infrastructural and legal environments, there is indeed a need for a regional platform for the exchange of ideas, learning from the approaches of member countries and for identifying common issues. The Indaba presents such a platform and will further consider approaches for continuing engagement on the promotion of financial inclusion. 

Editorial contact:FinMark Trust,   Nitha Ramnath (Ms), Communication Manager

Tel: 011 315-9197 / 0829214769 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.   

About FinMark TrustFinMark Trust, an independent trust based in Johannesburg, South Africa, was established in 2002, and is funded primarily by UKaid from the Department for International Development (DFID) through its Southern Africa office.  FinMark Trust’s purpose is ‘Making financial markets work for the poor, by promoting financial inclusion and regional financial integration’.  FinMark Trust does this by conducting research to identify the systemic constraints that prevent financial markets from reaching out to these consumers and by advocating for change on the basis of research findings. Please visit www.finmark.org.za for more information.

The National TreasuryThe South African National Treasury has outlined South Africa’s broader financial sector reform in a policy document, “A Safer Financial Sector to Serve South Africa Better”. The policy objectives of this reform include maintaining financial stability, strengthening consumer protection, combating financial crime, and ensuring that financial services are appropriate, accessible and affordable. One of the main initiatives in the implementation of the policy is the movement to a “Twin Peak” regulatory framework, under which prudential regulation and consumer protection will each have a regulatory focus, while National Treasury will remain responsible for policy implementation, including ensuring greater access to financial services by all South Africans.

The SADC SecretariatThe Southern African Development Community (SADC) Secretariat is the Principal Executive Institution of SADC, responsible for strategic planning, facilitation and co-ordination and management of all SADC Programmes. It is headed by the SADC Executive Secretary and is located in Gaborone, Botswana. The SADC Secretariat structure is designed to maximise and support the facilitation of the Member State policies and programmes to best contribute to the overall objectives of SADC – achieving Regional Integration and Poverty Alleviation. Guided by a Vision, Mission and Mandate, the SADC Secretariat performs the function of strategic planning and management of the programmes of SADC through sectoral and administrative roles: The secretariats vision is to be a reputable, efficient and responsive enabler of Regional Integration and Sustainable Development and their mission is to provide strategic expertise and co-ordinate the harmonisation of policies and strategies to accelerate Regional Integration and sustainable development. 

SADC Banking AssociationThe SADCBA provides a regional banking leadership platform for strategic direction to be given on matters pertinent to the transformation of the banking sector in the SADC region. Being conscious of a collective duty to promote and transform the whole of SADC into a dynamic and well integrated economic block, the SADC BA is taking the necessary steps to maximise the cooperation of member banking associations to encourage, inter alia: The creation of an environment for the development and proliferation of harmonised, inclusive, and sustainable banking services in SADC. Co-operation with national regulators in the pursuit of complementary goals in order to achieve integrity and credibility with respect to banking services in the region. Improved technical and regulatory capacity of member associations to make their financial markets more attractive to both regional and international investors.