The impact of RICA on financial inclusion in South Africa
The impact of RICA on financial inclusion in South Africa28 July, 2010 •
In 2009, the South African government amended the Regulation of Interception of Communications Act (RICA) by introducing identification and verification measures for mobile phone users. The country’s experience of introducing similar requirements under the Financial Intelligence Centre Act (FICA) showed that identity verification could be a problematic requirement for low-income individuals that may unintentionally exclude people.
This 2010 report considers the impact of RICA on mobile financial services and financial inclusion in South Africa.