Financial inclusion ticks up

According to the latest FinScope Consumer Survey report launched on Tuesday, there has been marked progress in the country, with around 242,947 more adults gaining access to financial services, and 242,884 adults categorised as excluded. Since its inception in 2002, the FinScope survey has been carried out in 28 African countries, with 14 of them in the SADC region, including Botswana.

The surveys are used by the market for product development, shaping policies, formulation of industry strategies and also for implementation of a joint national framework for fast-tracking financial inclusion in Botswana. Speaking during the launch, Finance and Economic Development minister, Peggy Serame applauded the strides made in financial inclusion noting that Botswana ranks fourth across SADC countries after South Africa, Mauritius and Swaziland. She said despite the progress, there is still more work that needs to be done to reduce the number of people excluded from the financial services sector. “The survey is a very critical and integral component in the financial inclusion agenda of the government.