Svotwa, Tendai Douglas, Wealth, Eukeria and Makanyeza, Charles (2023) Policy and regulatory frameworks for financial inclusion in South Africa, Botswana, Namibia and Zimbabwe. In: Chitimira, Howard and Warikandwa, Tapiwa Victor, (eds.) Financial Inclusion and Digital Transformation Regulatory Practices in Selected SADC Countries. Ius Gentium: Comparative Perspectives on Law and Justice (IUSGENT, volume 106), 106 . Springer, Cham, Switzerland, pp. 351-374. ISBN 978-3031238635; 978-3031238659; 978-3031238628 (doi:https://doi.org/10.1007/978-3-031-23863-5_16)

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Abstract

This chapter interrogates the policy and regulatory frameworks for financial inclusion in the Southern African Development Community (SADC) region, focusing on South Africa, Botswana, Namibia and Zimbabwe. Financial inclusion plays a pivotal role in the economic development and inclusive growth of a country,
as well as a critical role in the alleviation of poverty, reduction of gender inequalities and improvement in the standards of living for societies. Notwithstanding these benefits, constraints to financial inclusion in the countries under study include lack of trust in the financial services sector, financial illiteracy, high costs of setting up banks in remote rural areas and poor infrastructure. Generally, to some extent, the sampled countries have instituted country specific policies and regulations that are geared towards the enhancement of financial inclusion in their respective countries
which has resulted in positive outcomes. However, in some instances, there is no coordination between financial policies and other legislation to realise countrywide financial inclusion. In view of the preceding information, it can be recommended that there should be common financial inclusion legislation that is effectively and homogeneously applied in the SADC region, that must be upheld by all member states for uniformity to realise greater financial inclusion.

Item Type:	Book Section
Uncontrolled Keywords:	policy; SADC; regulatory framework; financial inclusion
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory H Social Sciences > HJ Public Finance
Faculty / School / Research Centre / Research Group:	Faculty of Business
Last Modified:	14 May 2024 10:27
URI:	http://gala.gre.ac.uk/id/eprint/47024

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