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

Sub-Saharan Africa includes a population with many lives being 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 next largest continent with a population of 1,256,268,025 (16% of the people of the world) and by the conclusion of January 2018, 40.2% surviving in urban areas.

The continent has the greatest 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 annual population rate change (increase) of 2.55% – the greatest among all continents. Nearly all of its people (59.8%) have lived downstream (rural areas and villages) sometimes out of the mainstream economy.Prescott Financial Advisors Policy targeting could possibly be difficult such scenarios, and identifying individuals who lack use of financial and economic inclusion includes a huge financial cost by itself, although the benefit in doing this outweighs the price in only numbers and requires commitment from leaders and managers of the respective economies. In conjunction with a general phenomenon of non-perfect, untrusted, and in some cases non-existing data on the continent, that may make decision making imperfect and data unreliable, affecting plans, policies and the potencies to solve stated challenges or improving the economic and social fibre of countries.

The struggles of the financially excluded originate from barriers and reasons as access, social and cultural factors, income, education and many possible lists of others. Financial exclusion arguably is one of the reasons some economic policies lack potency to effectively target well on the citizenry using its results in persistent poverty and inequality. Lack of use of basic needs as an account either at the bank or mobile money could mean significant possibilities of opportunities untapped. Globally countries have realized the significance of achieving inclusive societies and supports efforts at maximizing financial inclusion. Sub- Saharan Africa has made some strides through the years in financial and economic inclusion in this regard at individual country levels.

Earlier this year and shortly before I surrendered my Financial Services Authority permission to supply financial advice I met Bruce and Theresa, my long standing clients of some thirty years. The meeting was arranged to express farewell and to close our professional (but not social) relationship, and to finalise their plans because of their retirement.

The meeting lasted for the majority of the day, and whilst their finances were on the agenda and were dealt with, much of the meeting revolved around how these were going to call home in retirement, what they might and should do, how these were going to maintain family ties, decisions about their residence and nearly all facets of life in retirement. We also covered their relationship with money, dealing particularly with how to change their working life attitude of saving and prudence to finding the courage to invest their time and money on making the absolute most of the lives in retirement. Whilst I was able to demonstrate mathematically that their income and assets were a lot more than sufficient allowing them to call home a fulfilled life in retirement, we’d to cope with some deep emotional blocks to spending, particularly driving a car that they’d come to an end of money.

The financial markets sector is one important area of public concern in Africa. The requirement for adequate regulation and supervision of Financial Markets being an important mechanism for the promotion of economic development in African countries cannot be overemphasized. Financial markets regulation remains an extremely sensitive and complex activity in regards to governmental policy development, with relation to defining strategic options related to financial regulation. This short article reviews the present 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 know its rationale, objectives, approaches and the practical ways of defining a regulatory framework for a contemporary African financial market and system. At the same time many experts are calling for liberalization of financial services in Africa, it is essential to analyze what’re the rationale, advantages and implications of financial markets regulation for Southern African countries beneath the light of new international instruments and standards, like the Basle II Framework and the WTO Agreement on Financial Services of 1994, whose operational modalities are continues to be 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 around possible an obvious comprehension of policy development, key issues and challenges concerning the regulation of financial markets in the Southern African region.
The terminology utilized in the financial markets jargon is regarded as highly technical and can some times be confusing. While we attempt to help keep a low technical language through out this paper, it is quite impossible to prevent the specific concepts utilized in the financial profession. For many key concepts, a concise glossary of the majority of the technical words is provided at request by the author.

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