Browsing by Subject "Financial Inclusion"

Now showing 1 - 4 of 4
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    Fourth industrial banking: case studies into digitising banking models and the foreseeable effects in South Africa
    (2022) Masheleni, Celine Intombiyenhle; Benya, Asanda-Jonas
    This thesis is a critical, exploratory analysis of the impacts to the banking industry in South Africa, in light of the wave of technological change and emergence, termed in popular discourse as the Fourth Industrial Revolution or 4IR. The 4IR has been argued to offer the transformative potential to change and disrupt current societal organization and provide opportunities for developing countries such as South Africa to “leapfrog” into development. Many argue that as technology advances and progresses, it can be used to address socio-economic, developmental challenges and deliver services. In the banking sector, particularly in the context of developing countries, as large portions of the population remain excluded from formal financial services, digital banking methods premised on the technologies of the 4IR have emerged as potential “solutions”. What is often understated, however, that this study highlights, is that such technological advancements hold challenges. Moreover, as they are presented as solutions to the socioeconomic difficulties of developing countries, like financial exclusion, it is important that this is understood contextually, and critically and such challenges are presented. Through primarily qualitative case studies of two banks, Standard Bank and TymeBank, the study aimed to uncover the processes of digitisation occurring as well as the social processes that underlie them. Findings show that indeed, tangible examples of “4IR”/digitisation are identified at the two banks through technical application of emerging technologies, such as cloud computing and machine learning. However, more concerning are the social processes and strategic decisions that result in and out of their adoption. The 4IR in the context of this study appears to replicate ongoing social and economic inequalities, through inadequate digital infrastructures, and omni-present interests of neoliberalism presenting as digital capitalism. Additionally, carrying concern of adverse effects to the employment and labour landscape, the 4IR is deconstructed for its rhetorical meaning which contrasts with the reality. Hegemonic representations of a 4IR and its proposed ‘transformative benefits' do not correspond with actual phenomena and risk the neglecting of fundamental social challenges that are deepened by and new ones emerging out of digitisation.
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    Innovative Financial Inclusion for migrants and refugees living in urban areas: Practical lessons for Southeast Asia from Africa
    (2019) Tongboonrawd, Baranee; Alhassan, Abdul Latif; Makoni, Patricia
    The purpose of this study is to examine the innovative financial inclusion for the under-served urban migrant and refugee population in Thailand, respectively. The increasing number of urban migrants and refugees in Thailand requires innovative financial inclusion and livelihood interventions. Many migrants and refugees do not have access to formal financial services due to their legal documentation, although their demands for financial services still exist and remain unsatisfied. The evidence from Kenya in Africa could provide implications and viable options for Thailand in implementing financial inclusion and livelihood programmes in different ways. Using data from the migrants and refugees residing in Bangkok, Thailand through individual interviews, the discourse and narrative qualitative analytical methods were employed to analyse data. The key findings from this study include financial needs, financial inclusion options, livelihood assets and strategies, financial literacy, as well as the livelihood approaches that can support the wellbeing of urban migrants and refugees in the host countries. The findings also revealed the difference in financial needs between urban migrants and refugees in Thailand due to their unique needs and livelihood goals. The data analysis suggested that the financial inclusion and livelihood interventions in Kenya could be applicable for refugees and migrants in Thailand. The roles of financial technology and innovation also have a positive impact in accelerating the financial inclusion of refugees and migrants. The recommendations from this study can help to create the enabling environments for financial inclusion of migrants and refugees in the urban context of Thailand. A comprehensive needs assessment on livelihoods and financial inclusion could explore the actual needs of the migrant and refugee population in in Thailand. The coaching sessions for new arrival groups of migrants and refugees can help them to adjust their livelihood strategies while residing in the host country. The innovation and technology will promote the cost-effective informal banking and open up employment and economic opportunities. The advocacy for the rights of migrants and refugees should be strengthened, including the legislations regarding basic healthcare and education. With a dramatic increase in migration, a better understanding of urban contexts will help develop workable interventions for financial inclusion of urban displaced persons, eventually building resilience and reducing poverty among migrants and refugees.
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    The Impact of Financial Inclusion on the Nigerian Economy
    (2020) Arthur-Iweze, Ifeanyi Jane; Alhassan, Abdul Latif
    Financial inclusion remains a critical issue for developing economies such as Nigeria, where the focus of the government is to bring all economic units into the pool of the country's financial system. The rate of financial inclusion is an economic yardstick that cannot be discounted and one which remains a clear focal point of different inter-governmental efforts and policy. On one hand, there is the realisation that a low rate of financial inclusion means that a huge percentage of the population rarely has access to the kind of financial services that can take them out of poverty. As a contemporary discourse, this research seeks to assess the impact of financial inclusion on the development of the economy; arguing on the premise that proxy indicators in existing research have failed to provide a clear picture on the impact of financial inclusion on the economy, thereby failing to provide stakeholders with a strong motivation to pursue financial inclusiveness in the country. The focus of the study is to assess the effect of financial inclusion on income inequality and economic growth. To achieve this objective the study leverages on data spanning a period of 34 years (1981 to 2016), based on data generated from the Central Bank of Nigeria Statistical Bulletin and the World Bank Development Indicators. Using the Error Correction Mechanism (ECM),Unit Root Analysis and the Co-Integration analytical framework, the findings indicated that the short and longrun relationship between financial inclusion and economic growth in Nigeria show that the current values of the variables were not significant. Regarding the relationship between financial inclusion and income inequality in Nigeria, the short-run result revealed that only the past values of loans to rural areas and number of commercial bank branches appears to be significant, while at the long-run, the lagged value of gross domestic product per capital, commercial bank deposits and loans to rural areas were found to be statistically significant. The study further notes that financial inclusiveness was a precursor for economic growth in Nigeria. It is on this basis that the study recommends among others that; there is the need to increase loans to the rural areas by at least 50% this can be done through moral suasion to boost the economic activities in the rural areas, improve their aggregate demand, and ultimately their standard of living. There is also the need to engage more workforce in the rural areas to close the inequality gap prevalent in the country.
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    Unlocking public and private finance for financial inclusion for individuals at the bottom of the pyramid in Mbare, Zimbabwe
    (2024) Horonga, Rutendo Fortunate; Mthanti, Thanti; Zolfaghar, Badri
    This study aimed to find the barriers faced by the poor in accessing finance, with a specific emphasis on Mbare, a small but bustling township in Zimbabwe known for its lively small scale businesses and markets. Recognizing the significant value of financial inclusion in addressing the large funding deficit was necessary to accomplish the goals of the 2030 Agenda. The research sought to delve into the realities of those living on less than $2.15 per day—a demographic that significantly contributed to this gap. We employed the logit regression method to quantify the extent of financial inclusion and understand the interplay of various factors influencing it. These factors included financial education, the availability of affordable financial services, branchless banking, women empowerment, the perceived role of different sectors in financial inclusion, the experience of the community with collaborative programs, and their awareness of private sector innovations. For data collection, 395 closed-ended questionnaires were distributed within the Mbare community. Out of these, 305 questionnaires were returned and subsequently analysed. The results of this research were pivotal in shedding light on the specific challenges and obstacles that the BOP population in Mbare faced in accessing financial services. The insights gained from this study inform and guide policymakers, financial institutions, Non-Governmental Organizations (NGOs), and academic literature in formulating and implementing strategies that effectively address these barriers and promote financial inclusion. This research represents a step towards understanding and enhancing financial access to the poor in developing countries, thereby contributing to broader efforts aimed at sustainable economic development and poverty alleviation.