How Africa’s financial sector can manage risk in volatile times
Friday, April 14, 2023 | 60 Views |
Ear to the ground: The Finance Ministry monitors all threats to the country’s fiscal stability
But with consumers across the continent struggling in the face of rising inflation and interest rates, they're experiencing a growing wave of non-performing loans (NPLs), which is putting a brake on their growth ambitions.
At the same time, regulators and governments across the continent are challenging the financial services sector to drive greater financial inclusion. The sector is also grappling with challenges like how to deal with rising digital fraud without affecting the customer journey in the process.
Whilst many citizens put trust in their leaders that they are tackling one of the worst curses that can befall a country, the public has lost trust after all the cases seemed not to go anywhere.As the saying goes, ‘corruption is a cancer that eats away at the fabric of society’; corruption affects effective governance.Corruption affects delivery of services to the public and also crumbles most systems meant to assist citizens who are very...