MAP Swaziland was requested by the government of Swaziland as input towards the development of a financial inclusion strategy for the nation. The Ministry of Finance had set up a Financial Inclusion Task Team comprising of representatives from the Microfinance Unit, the Central Bank and the Financial Services Regulatory Authority. The Financial Inclusion Task Team served as steering committee for the MAP project and was mandated to develop the financial inclusion strategy for Swaziland.
The MAP Swaziland’s 2014 findings were derived from a demand, supply and regulatory analysis of the market and identified five key priorities areas through which access to financial services can be improved:
- Encourage innovation and regulatory flexibility in mobile money to facilitate low-cost transactions and support savings.
- Reduce costs and increase accessibility of both formal domestic and formal cross-border remittance channels.
- Extend the reach and support take-up of insurance, especially outside of the formally employed market.
- Deepening bank reach by providing greater value to account holders while at the same time allowing banks to reduce the number of unprofitable bank accounts.
- Getting credit basics right by formalising credit provision including improved disclosure of costs to clients and introduction of a credit bureau.
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