Driving Africa’s growth through financial inclusion
The rising middle class and the need for financial inclusion will be the key driving force in Africa’s growing financial services sector. The concentration of electronic payments continues to be in the urban/metropolitan cities. In tackling the financial inclusion objective, what specific initiatives can the regulators and players do to make the rural areas more attractive? Players have often cited the huge cost of setting up the infrastructure and support framework to serve these segments of the market. For instance, what role should the banks be playing in the deployment of acquiring devices in the rural communities given the struggles they have in providing sufficient support coverage for devices in the cities?
Get answers to these questions and more as Adetorera Banjo, Senior Manager of Management Consulting at KPMG Nigeria, Carlijn Nouwen, Partner at Dahlberg and Jude Anele, Head of Direct Banking at Diamond Bank shares more insights.
About David Okwara
Africa, Africa brief, Africa challenges, Africa financial services, Africa Financial Services initiative, Africa opportunities, African countries, Angola, Banking and Financial Services Act, challenges, development, East Africa, economic growth, economy, Ethiopia, FDI, financial inclusion, financial services, financial services industry, Foreign Direct Investment, foreign investment, GDP, investment, Kenya, KPMG, KPMG Africa, m-pesa, sub-Saharan Africa