Faculty of Commerce, Law and Management (ETDs)

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Subject: search.filters.subject.Financial Inclusion

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Now showing 1 - 5 of 5
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    Promotion of inclusive insurance by a South African InsurTech company
    (University of the Witwatersrand, Johannesburg, 2024) Nhlapo, Zanele Cynthia; Totowa, Jacques
    This study examines the strategies an insurance technology company deployed to promoteinclusivity within the insurance sector across its operational markets in South Africa,Uganda, Ghana, Zambia, Côte d’Ivoire, and Cameroon. This research focuses on the SouthAfrican market within the context of a multinational corporation. The name of the companyunder study is concealed for ethical reasons. Employing qualitative research, this studyexplores how an insurance technology company utilises digital technologies to offer easilyaccessible and unique insurance products such as prepaid hospital, funeral and life cover.The company focuses on aiding underserved communities and promoting financial inclusionand sustainable development. Despite a generally low insurance penetration in Africa andthe slow uptake of technological innovations among established insurers. This specificinsurance technology company stands out as a pioneer in embracing digital solutions to meetinsurance needs. The research identifies barriers to insurance adoption, analyses the use ofdigital technology in enhancing accessibility, and evaluates the company's strategies forimproving affordability and customer satisfaction. The study finds that an insurancetechnology company's innovative approaches, such as mobile technology utilisation andstrategic partnerships, have significantly increased insurance coverage and provided a safetynet for vulnerable populations, which has implications for the scalability of similar modelsin comparable markets. The research contributes to the academic discourse on insuranceinclusion, highlighting the role of InsurTech in achieving Sustainable Development Goalsset by the United Nations and providing recommendations for further enhancing the reachand impact of insurance technology initiatives. As such, the study takes its place among otherstudies in the disciplines of business leadership and management
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    Broad-Based Black Economic Empowerment Legislation’s (B-BBEE) Role in Evincing Financial Inclusion in South Africa's Banking Industry
    (University of the Witwatersrand, Johannesburg, 2024) Khomunala, Avhasei; Horne, Renee
    The study aims to analyse the social and economic transformation brought about by the Broad- Based Black Economic Empowerment (B-BBEE) Act 53 of 2003, as amended by Act 46 of 2013. This delves into the impacts of the Amended Financial Sector Code (FS Code) on the banking industry, particularly analysing the effects of the Empowerment Financing (FS600) and Access to Financial Services (FS700) elements. The first objective explores the intricacies of South Africa’s policy structures and historical backdrop of the country that could potentially impact the decision-making process of the financial industry when executing transformative initiatives. The second objective is to recognise the constraints impeding the achievement of financial inclusivity within the banking sector and evaluate the influence of the Broad-Based Black Economic Empowerment (B- BBEE) legislation in relation to the Amended FS Code with regards to the Banking industry . The research recommends a revision in the monitoring approach of the B-BBEE legislation in South Africa by drawing upon insights from international leaders and utilizing these discoveries to offer effective strategies for enhancing the involvement of marginalized communities. A quantitative research methodology was deployed by the extraction of secondary data for studying Bank’s financial inclusion initiatives and primary data through questionnaires disseminated to Beneficiaries of the two elements by means of targeting students of University of the Witwatersrand and professionals on LinkedIn. Through its quantitative assessment, descriptive statistics, Crosstabs, Chi-square analysis, and a summary of the results and explanation was provided. The comprehensive analysis of the South African Banking Industry as implementors of financial inclusion initiatives demonstrates significant advancements and positive trends. Furthermore, the dissertation normality tests, revealing significant departures from normal distribution assumptions for specific variables and residing area levels
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    The stablishment of staate-ownedcommercial bank and its impact on the South African economy
    (University of the Witwatersrand, Johannesburg, 2023) Diza, Zandile
    This study investigates firstly, the current financial inclusion landscape of South Africa, the gaps or rather the limitations that exist in the current banking system that require direct intervention of the government as well as how effective the role of the development financial institutions (DFIs) in the economic growth and development of South Africa and the challenges therein. Secondly, we investigate the need for the establishment of the state-owned bank, its clear mandates and objectives in the economic development of South Africa
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    Opportunities and challenges of open banking in South Africa
    (University of the Witwatersrand, Johannesburg, 2022) Dreyer, Tanya
    There is much hype and speculation around the potential of open banking to increase financial inclusion and competition among incumbent banks in developed and developing economies (Plaitakis & Staschen, 2020 and Zeller & Dahdal, 2021). Mastercard has gone so far as to call it “the most transformational trend in banking since digitization” (Mastercard, 2020). The purpose of this study is therefore to assess the challenges and opportunities of implementing open banking in South Africa as well as potential frameworks for implementation. Further as the existing knowledge base for open banking is globally limited and predominantly focussed on developed economies, it is vital to publish information from the perspective of an emerging economy that is also one of the largest economies in Africa.
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    Does the development of mobile financial services have an impact on financial inclusion in Lesotho?: the case of M-Pesa and eco-cash
    (2020) Jonathan, Mantai Mamello Florence
    The purpose of this study is to assess the effect that the growth of mobile financial services hashad on financial inclusion in Lesotho. The research focused on the two leading mobile network operators (MNOs), Econet Lesotho and Vodacom Lesotho, who launched the country's two Mobile Money services. Over the years, Mobile Money services have increased rapidly, largely replacing the traditional way of banking in the everyday lives of Basotho people. The study aimed at examining the reasons for this transition and how this new development has affected Lesotho in general. The report contains arguments that Mobile Money was indeed an invention that most people welcomed. The study found that most individuals prefer the use of mobile financial services to that of banks for various reasons: some indicated that bank charges are too costly for them; many who reside in rural areas do not have access to bank branches as they are usually located in the city; many also complained about the extensive documentation required to open a bank account. Although the government of Lesotho has implemented various means and strategies in the past in an attempt to increase financial inclusion in Lesotho, this has not been successful. The study used quantitative methods to examine the effect of mobile financial services on financial inclusion. Primary data was collected through the distribution of self-administered structured questionnaires on a sampled population of 114 individuals. For rigorous empirical testing of the data, secondary data was used to unravel the extent of the impact of mobile financial services on financial inclusion. However, both primary and secondary data were essential for reaching the final conclusions and findings of the study. Therefore, after all the analyses and evaluations, it was concluded that, despite its challenges, Mobile Money has improved the financial inclusivity of the many unbanked residents of Lesotho.