Law Commons^™

Financial Inclusion In South Africa: An Integrated Framework For Financial Inclusion Of Vulnerable Communities In South Africa's Regulatory System Reform, Lydie Louis, Frederic Chartier

Journal of Comparative Urban Law and Policy

Vulnerable communities in developing countries like the poor in South Africa are not included in their country’s formal economy because the poor have little or no access to financial services. As such, the poor struggle to survive, and to capture the interests of the banking industry to provide them with access to affordable financial services. Public-private financial inclusion initiatives have been insignificant or proven unsustainable to include the poor into the financial fabric of their domestic country. This is because financial inclusion initiatives have primarily been defined, and designed as a “social responsibility” by the government and the banking industry …