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Starbucks South Africa Unveils “Your Summer Yes” Campaign: Celebrating Individuality, Empowerment,…Dr Velenkosini Matsebula is a Senior Lecturer in Development Finance at Stellenbosch Business School.
A recent study conducted by Mahalika, Matsebula, and Yu delves into the relationship between financial inclusion and poverty in South Africa. Their findings underscore a significant link between financial inclusion and poverty reduction, shedding new light on the tools available to combat poverty effectively.defines it as the provision of access to useful and affordable financial products and services that cater to the needs of individuals and businesses, delivered responsibly and sustainably.
It is evident that financial inclusion is not solely the domain of the banking sector but a fundamental tool in the poverty eradication toolbox. The key is that financial inclusion empowers individuals. Access to financial services equips individuals and businesses to better manage risk, stabilize consumption, and invest in their future. Even minimal financial assets provide a safety net against economic shocks and potential income loss.
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