When people can participate in the financial systems, they’re better able to start and expand businesses, purchase their children’s education, and absorb financial shocks.

Sub-Saharan Africa features a population with most lives staying at the economic downstream, and almost certainly underdeveloped. The financial inclusion gender gap and income gap persisting exactly like in other continents, though higher in Sub-Saharan Africa. World Population estimates based on the latest estimates released on June 21, 2017, by the United Nations, shows Africa continues as the second largest continent with a population of 1,256,268,025 (16% of the population of the world) and by the finish of January 2018, 40.2% surviving in urban areas.

The continent has the highest fertility rate of 4.7% (Oceania 2.4%, Asia 2.2%, Latin American and Caribbean 2.1%, Northern America 1.9% and Europe 1.6%) set alongside the other continents with an annually population rate change (increase) of 2.55% – the highest among all continents. Most of its people (59.8%) have lived downstream (rural areas and villages) sometimes out of the mainstream economy.Prescott Financial Advisors Policy targeting might be difficult such scenarios, and identifying people who lack usage of financial and economic inclusion includes a huge financial cost in itself, although benefit in this outweighs the price in only numbers and requires commitment from leaders and managers of the respective economies. Coupled with a general phenomenon of non-perfect, untrusted, and in some cases non-existing data on the continent, that can make decision making imperfect and data unreliable, affecting plans, policies and the potencies to resolve stated challenges or improving the economic and social fibre of countries.

The struggles of the financially excluded come from barriers and reasons as access, social and cultural factors, income, education and many possible lists of others. Financial exclusion arguably is one of many reasons some economic policies lack potency to effectively target well on the citizenry with its results in persistent poverty and inequality. Not enough usage of basic needs like an account either at the lender or mobile money could mean significant possibilities of opportunities untapped. Globally countries have realized the importance of achieving inclusive societies and supports efforts at maximizing financial inclusion. Sub- Saharan Africa has made some strides over time in financial and economic inclusion in this regard at individual country levels.

Earlier in 2010 and shortly before I surrendered my Financial Services Authority permission to offer financial advice I met Bruce and Theresa, my long standing clients of some thirty years. The meeting was arranged to say farewell and to close our professional (but not social) relationship, and to finalise their plans for his or her retirement.

The meeting lasted for all of the day, and whilst their finances were on the agenda and were dealt with, a lot of the meeting revolved around how these were going to call home in retirement, what they may and must do, how these were going to maintain family ties, decisions about their property and almost all areas of life in retirement. We also covered their relationship with money, dealing specifically with how to alter their working life attitude of saving and prudence to locating the courage to spend their time and money on making the most of the lives in retirement. Whilst I was able to demonstrate mathematically that their income and assets were a lot more than sufficient to permit them to call home a fulfilled life in retirement, we had to manage some deep emotional blocks to spending, specifically worries that they’d run out of money.

The financial markets sector is one important area of public concern in Africa. The necessity for adequate regulation and supervision of Financial Markets being an important mechanism for the promotion of economic development in African countries can’t be overemphasized. Financial markets regulation remains a very sensitive and complex activity when it comes to governmental policy development, with relation to defining strategic options pertaining to financial regulation. This article reviews the current status of financial farkets, the legal and regulatory frameworks in the Southern African region, with a particular give attention to selected countries.

The topic under investigation relates to the regulation of financial markets by governments within the Southern African countries both at national and international levels. It attempts to grasp its rationale, objectives, approaches and the practical ways of defining a regulatory framework for a modern African financial market and system. At a time many experts are calling for liberalization of financial services in Africa, it is very important to analyze what are the explanation, advantages and implications of financial markets regulation for Southern African countries beneath the light of new international instruments and standards, including the Basle II Framework and the WTO Agreement on Financial Services of 1994, whose operational modalities are remains under negotiations on various key aspects.

This paper attempts to examine the institutional and regulatory framework for the financial markets operations to be able to understand the underlying principles of financial markets regulation development; to develop a concise outline of financial markets regulation framework within the South African countries; and provide as much as possible an obvious understanding of policy development, key issues and challenges relating to the regulation of financial markets in the Southern African region.
The terminology used in the financial markets jargon is regarded as being highly technical and can some times be confusing. While we attempt to keep a low technical language through this paper, it’s quite impossible to avoid the specific concepts used in the financial profession. For some key concepts, a concise glossary of all of the technical words is provided at request by the author.

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