The book Promoting and Prioritising Financial Inclusion in Southern Africa: A Contemporary Law and Economics Perspective is written in the backdrop of Africa emerging as the world’s second fastest developing continent, behind Asia. Africa has had annual Gross Domestic Product growth rates in excess of five percent over the last decade. Unfortunately, Africa’s rapid economic expansion has not resulted in shared wealth or better living conditions for the majority of its people. Contributors to the book underline the importance of inclusive economic success in order to be socially and politically sustainable, with a specific emphasis on Southern Africa.

Financial inclusion is a critical component of inclusive development, and Southern African countries, like the rest of Africa, have lagged behind other continents in this area. Fewer adults in Southern Africa have access to a formal financial institution account. According to the book, increasing access to financial services will mobilise more household savings, attract capital for investment, enlarge the class of entrepreneurs, and allow more individuals to invest in themselves and their families. Financial inclusion is required to ensure that economic growth is inclusive and sustainable. All measures that make formal financial services available, accessible and affordable to all segments of the population are referred to as financial inclusion. This necessitates paying special attention to segments of the population who have historically been excluded from the formal financial system, whether due to their income level and volatility, gender, geography, kind of activity, or degree of financial knowledge. In doing so, there is a need to tap the untapped potential of those individuals and businesses who are currently excluded from or underserved by the formal financial sector, allowing them to build capacity, strengthen their human and physical capital, engage in income-generating activities, and manage risks associated with their livelihoods.

Financial inclusion extends beyond greater loan access to include improved access to savings and risk management products, as well as a well-functioning financial infrastructure that allows individuals and businesses to participate more actively in the economy while respecting users’ rights. With the aim of documenting the current state of financial inclusion in Southern Africa and educating policymakers, financial sector stakeholders, and development actors about available opportunities and specific challenges that require attention and action, this book aims to contribute to the discussion on financial inclusion on the continent. Through a collection of chapters exploring the subject from many angles, it explains the complex nature of financial inclusion

Foreword 

Dedication 

Acknowledgements 

Acronyms 

Table of Statutes 

Table of Cases 

Chapter 1: Prioritising Financial Inclusion in Southern Africa: An Introduction. Howard Chitimira and Tapiwa Victor Warikandwa

Chapter 2: The Adequacy of the Regulatory Framework for Digital Financial Inclusion in Botswana. Oyesola Animashaun and Howard Chitimira

Chapter 3: Challenges and Prospects of Mobile Money in Promoting Financial Inclusion in Botswana, Namibia, South Africa and Zimbabwe. Eukeria Wealth, Charles Makanyeza and Tendai Douglas Svotwa

Chapter 4: An Overview Analysis of Selected Digital Financial Services and the Promotion of Financial Inclusion in Zimbabwe. Friedrich Hamadziripi and Sharon Munedzi

Chapter 5: Combatting Financial Exclusion of Low-Income Earners through Financial Education in South Africa. Phemelo Theophilus Magau and Gaopalelwe Mathiba

Chapter 6: Consumer Protection and Financial Literacy: Insights from Botswana, Namibia, South Africa and Zimbabwe. Charles Makanyeza, Tendai Douglas Svotwa and Eukeria Wealth

Chapter 7: Assessing Socio-Economic Factors Affecting Financial Inclusion in South Africa. Emmanuel Ndhlovu and David Mhlanga

Chapter 8: A Regulatory Analysis of Mobile Money to Promote Financial Inclusion for the Poor in Zimbabwe during the COVID-19 Pandemic. Howard Chitimira and Elfas Torerai

Chapter 9: Financial Inclusion and the Socio-Economic Transformation Agenda in Africa: A Case Study of South Africa with insights from Zimbabwe. Tinashe Kondo and Bright Mbonderi

Chapter 10: Financial Inclusion and the Socio-Economic Transformation Agenda in Africa: Evidence from Botswana, Namibia, South Africa and Zimbabwe. Tendai Douglas Svotwa, Charles Makanyeza and Eukeria Wealth

Chapter 11: A Comparative Analysis of the Role of the National Payment Systems of Zimbabwe and South Africa on the Financial Inclusion of the Unbanked. Friedrich Hamadziripi and Princess Ncube

Chapter 12: A Review of the National Credit Amendment Act 7 of 2019 as a Tool for enhancing Financial Inclusion in South Africa. Tinashe Wazvaremhaka

Chapter 13: Financial Inclusion as a Strategy to Alleviate Poverty and Income Inequality: Insights from Botswana, Namibia, South Africa and Zimbabwe. Charles Makanyeza, Eukeria Wealth and Tendai Douglas Svotwa

Chapter 14: Digital Financial Inclusion and COVID-19 in SADC: A Comparative Socio-Legal Study of Namibia and South Africa. Tapiwa Victor Warikandwa

Chapter 15: The Role and Use of Financial Inclusion as a Tool to Combat Poverty in Namibia. Tulonga Miryam Shaalukeni, Johannes Ngozu and Samuel Nghidengwa Nakale

Chapter 16: Policy and Regulatory Frameworks for Financial Inclusion in South Africa, Botswana, Namibia and Zimbabwe. Tendai Douglas Svotwa, Eukeria Wealth and Charles Makanyeza

Index 

Lawyers, in-house counsel, state advisors, international law & government policymakers, financial sector stakeholders, econimists, and development actors