Africa currently has the highest financial exclusion rates in the world, with the formally unbanked or underbanked population rising as high as 86% in some countries. Approximately one in four adults has access to a formal bank account and an estimated 326 million adults in Africa remain unbanked. There is therefore a significant need for increased inclusion and access to financial services in order to enable individuals to plan for more sustainable futures for themselves and their families.
In order to support financial inclusion, we continue to deliver financial education and awareness programmes in public-private partnerships. Our unique initiative with the Department of Basic Education (DBE) to provide financial management and governance training to School Governing Bodies, as well as collaborations with organizations such as the Association for Savings and Investment (ASISA) is geared to improving the financial wellness of our communities.