Bernadette T Maele MCIPS’ Post

The digital drive towards alleviating poverty, promoting economic growth, and building opportunities through financial inclusion is slowly being won. But, for many Africans, ‘cash is still king,’ and financial institutions have much to do to build on the successes that saw 49% of Africans join the formal banking sector between 2011 and 2022. “For inclusive banking to break across the 50% barrier and soar further, several things must be achieved. Attention will have to be given to infrastructure development in regions where poor internet and mobile phone networks cause connectivity to continue to lag. Building financial literacy and trust in digital systems is still crucial in some regions.” shared Yinka Sanni, CE for Africa Regions at Standard Bank at the inaugural Business and Commercial Banking Conference. #GrowingAfrica Learn more: https://bit.ly/3AeDuOL

Empowering Uganda's Banking Future! SCI Uganda/NCR and Avanza Solutions have joined forces to harness the potential of advanced digital platforms, transforming the banking industry and driving economic growth and financial stability across Africa. Together, we're shaping a brighter financial future for the continent! #DigitalTransformation #BankingInnovation #FinancialInclusion #UgandaBanks #AfricaRising #FintechPartnership #EconomicGrowth #FinancialStability

💰 Mobile money services are transforming communities across Africa, providing banking access to even remote communities and offering crucial economic support in areas with limited banking infrastructure. While mobile money is booming in Africa, there is still a significant need to improve digital literacy to ensure everyone can fully access and utilize these services. Find out more in this insightful article on the impact of mobile money on Africa's economy and why boosting digital literacy is critical to unlocking its full potential! Read more here ➡ bit.ly/3JRZSyY.

🌍 Exploring South Africa's Banking Marvels! 🏦💰 Check out the fascinating details in this eye-opening article: https://buff.ly/2SAwrFT Did you know that South Africa's banking sector is a powerhouse, mirroring the likes of the United States? 🚀 With a diverse range of financial institutions, including Mutual Banks, Co-operative Banks, Foreign Banks, Private Banks, Commercial Banks, Merchant Banks, and more, South Africa's economic growth is on a steady rise, boasting over R5 Trillion in assets! 💼📈 From the thriving Commercial Banks to the dynamic Co-operative Banks, South Africa's financial landscape is a testament to its economic prowess. 🌐💹 Let's delve into the intricate web of financial institutions shaping the nation's financial destiny! 💎💼 #SouthAfrica #BankingSector #EconomicGrowth #FinancialInstitutions #DiversityInFinance #ExploreWithUs 🇿🇦💳

Last week, in Kigali, Rwanda, I had the opportunity to discuss the transformative power of open banking in Africa with Flora Limukii of CNBC Africa. We delved into how Zeeh Africa is reshaping access to credit across the continent, making financial services more accessible and efficient for everyone while positioning Zeeh Africa as "The Credit Karma for Africa". Contributing to the United Nations Sustainable Development Goals. We're not just facilitating financial transactions; we're advancing Goal 1 (No Poverty), Goal 8 (Decent Work and Economic Growth), Goal 10 (Reduced Inequality), and Goal 17 (Partnerships for the Goals). Join us in our journey of impact and innovation! Let's work together towards a future where everyone has the opportunity to thrive. https://lnkd.in/dEVrrcGM #OpenBanking #FinancialInclusion #Fintech #ZeehAfrica #SDGs

How can we revolutionize financial inclusion in Africa? and beyond? Across Africa, millions of people are excluded from the formal financial system, limiting their ability to save, invest, and grow. This financial exclusion perpetuates poverty and hinders economic development. At Smpl Ecosystem we believe that everyone deserves access to financial services. That's why we're on a mission to revolutionize financial inclusion in Africa through innovative, user-friendly solutions that empower individuals and businesses. Imagine a future where every African has access to the financial tools they need to thrive. This is the future we're working towards at SMPL, and we invite you to be part of this transformative journey. Diaspora Banking: We understand the challenges of diaspora banking, and with SMPL Banking, remittance services are efficient and much more affordable, with high-tech data security ensuring peace of mind for all. How You Can Help: Are you a trailblazer in fintech, a visionary entrepreneur, or simply passionate about driving change? Join us! Together, we can create a more inclusive financial ecosystem that benefits everyone. What innovative solutions do you think are needed to tackle financial exclusion in Africa? Share your thoughts below and let's spark a discussion that leads to impactful change. Visit SMPL's website to learn more about our mission and how you can get involved. Together, we can make financial inclusion a reality for all Africans. #SMPL #FinancialInclusion #EmpowerAfrica #JoinTheMovement

Streaming Now: Plenary session at the inaugural Business and Commercial Banking event in South Africa! Experts join the panel to discuss 'Banking the 4th Industrial Revolution.' This session explores the challenges and opportunities that emerging technologies and AI bring to the table. How can we capitalize on them? Tune in to find out. #UnlockingAfricasGrowth #BCBAfricaUnlocked

Africa Trend: Money & Technology The intersection of money and technology in Africa includes mobile money using SMS and USSD transactions, remittances via platforms such as Mukuru and WorldRemit as well as earned wage access. These innovations promote financial inclusion and economic empowerment across the continent. To learn more about trends in Africa, please get in touch with Lynne Martin at lynne.martin@frost.com. #helpingafricagrow #mobilemoney #remittances #earnedwageaccess #financialinclusion #economicempowerment

In the words of Tim Masela, Vice Chair, AACB African Inter-Regional Payments Integration Task Force, "Technology gives us an opportunity to broaden use of financial services, including payments, savings, lending, and insurance". The continent is making great strides in taking advantage of this opportunity, and there's still plenty of room for even more progress. The World Bank reports that Sub-Saharan Africa saw account ownership soar to 63% in 2023, up from 55% the year before. That's millions more people gaining access to financial tools like mobile money, utilized by a whopping 614 million individuals across the continent. Mobile money transactions alone in Africa crossed a remarkable $575 billion in 2023, with estimates suggesting digital financial services contribute up to 4% of GDP growth in developing economies. These services go beyond convenience – they empower individuals and businesses, drive financial inclusion, and fuel economic development across Africa. Our comprehensive finance sector trends report delves into these trends, providing actionable insights for brands seeking to navigate and thrive in Africa's dynamic financial services landscape. Download here: https://zurl.co/M2FN #FinanceTrends #AfricanFinance #PierrineReports

The recent State of Mobile Money Report by GSMA continues to interest me. Check how West Africa has passed East Africa in the contribution of Mobile Money to GDP, despite East Africa having a lead of at least ten years in Mobile Money. Does this insight reinforce my conversation about Kenya’s lack of presence in this market? Despite us showing the world (not just Africa) how mobile money is done? Thoughts?