Affordable insurance for low-income market must be part of financial inclusion

We’re listening hard for discussion about improving financial inclusion in South Africa –and are happy that the debate is gaining momentum. Perhaps there are too many blinkers out there and rather too much readiness to be satisfied with general rather than specific outcomes.

FinMark Trust’s 2016 FinScope South Africa Survey on Financial Inclusion found 38.2 million adult South Africans (89% of all adults) have some type of financial account. This is defined quite broadly and includes both formal and informal accounts. 


State bank can reduce dominance of private banks and drive SA’s development

There are four major reasons why we need a state bank(s) in South Africa.

Firstly, we need to reduce the concentration by a few major banks and improve competition by bringing new players in our banking industry. With increased competition, pricing and customer treatment will improve significantly. 


Illegal car repossessions are common in South Africa

Vehicle financier Wesbank is not the only institution that has been accused of illegally repossessing cars.

Credit providers have been engaging in such practices for years, according to industry experts. The issue has been around since 2007, said Paul Slot, president of the Debt Counsellors’ Association of South Africa (DCASA).


Unpopular NEF, IDC merger may hold back black empowerment

Politicians love power. In fact, they thrive on amassing more power. Whenever politicians amalgamate bureaucratic institutions, the motive behind such a move is usually to consolidate and amass political power rather than to improve the efficiencies of the institutions that are being merged.

This is why mergers that are driven by politicians raise eyebrows, especially when they are often not supported by solid business rationale, but by hidden political agendas. 


Merchant bankers take entrepreneurial plunge

When Sibusiso Mabuza was around eight years old, he convinced his dad to buy a bag of Cadbury's chocolate eclair sweets which he wanted to sell at school to make extra pocket money.

Within the first week Mabuza had made a profit but, instead of splashing out his proceeds on treats, the youngster invested his earnings in buying more merchandise. He expanded his offering and employed pupils to sell his stock in other classes.  


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