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Financial Services For The Urban Poor South Africa
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Book Synopsis Financial Services for the Urban Poor by : Jo Ann Paulson
Download or read book Financial Services for the Urban Poor written by Jo Ann Paulson and published by World Bank Publications. This book was released on 1998 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: November 1998 Standard Bank of South Africa's innovative E Bank program demonstrates how a commercial bank can use market information to bundle services needed by the urban poor-and valued by the poorer clients to justify a fee high enough to cover costs. Much of the research on financial services in low-income countries has focused on microcredit programs. Much less attention has been paid to the design of depository services, although many more low-income people use depository services than get access to credit. Having access to depository services is important for household well-being: to safeguard funds, to save for large purchases, and as insurance against unexpected expenditures. Economic reform programs in recent years have encouraged banks to push up nominal interest rates to keep deposit rates positive in real terms and to motivate savings in financial assets. But once deposit rates are positive in real terms, banks typically increase minimum deposit size or find other ways to discourage small depositors because of the high costs of maintaining and servicing low-balance accounts. Traditional passbook savings accounts, the main product used by low-income households, are being phased out because of high costs. After South Africa's move to democracy in 1994, it was politically imperative that the country's major financial institutions help redress the historically weak system of services for low-income people. Paulson and McAndrews describe one of the more interesting experiments. In 1993 Standard Bank of South Africa created an affiliate, called E Bank, to deliver basic banking services to the urban poor. E Bank provides a package of financial services designed specifically for low-income clients, offering greater convenience for the user while keeping under control the costs to the bank of providing services. E Bank combines the innovative technology of modified ATM services with staff available to help all clients. By rethinking the needs of the basic banking customer, E Bank was able to bundle services valued by poorer clients to justify a fee high enough to cover costs. This paper-a product of the Financial Sector Development Department-is part of a larger effort in the department to explore ways to expand financial services in low-income countries. The authors may be contacted at [email protected] or Jamie. Mcandrews@NY. Frb.Org.
Book Synopsis Financial Services for the Urban Poor by : Jo Ann Paulson
Download or read book Financial Services for the Urban Poor written by Jo Ann Paulson and published by . This book was released on 2016 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: November 1998Standard Bank of South Africa's innovative E Bank program demonstrates how a commercial bank can use market information to bundle services needed by the urban poor - and valued by the poorer clients to justify a fee high enough to cover costs.Much of the research on financial services in low-income countries has focused on microcredit programs. Much less attention has been paid to the design of depository services, although many more low-income people use depository services than get access to credit. Having access to depository services is important for household well-being: to safeguard funds, to save for large purchases, and as insurance against unexpected expenditures.Economic reform programs in recent years have encouraged banks to push up nominal interest rates to keep deposit rates positive in real terms and to motivate savings in financial assets. But once deposit rates are positive in real terms, banks typically increase minimum deposit size or find other ways to discourage small depositors because of the high costs of maintaining and servicing low-balance accounts. Traditional passbook savings accounts, the main product used by low-income households, are being phased out because of high costs.After South Africa's move to democracy in 1994, it was politically imperative that the country's major financial institutions help redress the historically weak system of services for low-income people. Paulson and McAndrews describe one of the more interesting experiments. In 1993, Standard Bank of South Africa created an affiliate, called E Bank, to deliver basic banking services to the urban poor.E Bank provides a package of financial services designed specifically for low-income clients, offering greater convenience for the user while keeping under control the costs to the bank of providing services. E Bank combines the innovative technology of modified ATM services with staff available to help all clients. By rethinking the needs of the basic banking customer, E Bank was able to bundle services valued by poorer clients to justify a fee high enough to cover costs.This paper - a product of the Financial Sector Development Department - is part of a larger effort in the department to explore ways to expand financial services in low-income countries. The authors may be contacted at [email protected] or [email protected].
Book Synopsis Financial services for the urban poor South Africa by : Jo Ann Paulson
Download or read book Financial services for the urban poor South Africa written by Jo Ann Paulson and published by . This book was released on 1998 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Capital, capacities and collaboration: The multiple roles of community savings in addressing urban poverty by :
Download or read book Capital, capacities and collaboration: The multiple roles of community savings in addressing urban poverty written by and published by IIED. This book was released on with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Transforming Africa by : Dana T. Redford
Download or read book Transforming Africa written by Dana T. Redford and published by Emerald Group Publishing. This book was released on 2022-01-26 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transforming Africa: How Savings Groups Foster Financial Inclusion, Resilience and Economic Development presents in-depth empirical research into current day savings group activities across Africa, exploring savings groups through the lens of financial inclusion and reflecting on formal finance, economic and social outcomes.
Download or read book Money and Violence written by Erik Bähre and published by BRILL. This book was released on 2007-06-30 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: This ethnographic study reveals how financial self-help groups (burial societies and credit groups) are islands of hope for Xhosa migrants living in the townships and squatter camps of Cape Town, South Africa. Many are caught up in a sea of insecurity, unemployment, murder, rape, AIDS, and social conflict, entangled with apartheid politics as well as post-apartheid development. Particularly women create these de-politicized social spaces to feel secure and trusted, and know that money is subject to their control. This intimate account challenges romanticized views on urban poverty and solidarity groups. It explores the anxiety among members, the fragility of trust and solidarity, as well as the emergence of conflicts with kin, household members, and neighbours, over desperately needed money.
Book Synopsis Policy, Politics and Poverty in South Africa by : Jeremy Seekings
Download or read book Policy, Politics and Poverty in South Africa written by Jeremy Seekings and published by Springer. This book was released on 2015-07-21 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seekings and Nattrass explain why poverty persisted in South Africa after the transition to democracy in 1994. The book examines how public policies both mitigated and reproduced poverty, and explains how and why these policies were adopted. The analysis offers lessons for the study of poverty elsewhere in the world.
Book Synopsis Access to Basic Infrastructure by the Urban Poor by : Aurelio Menéndez
Download or read book Access to Basic Infrastructure by the Urban Poor written by Aurelio Menéndez and published by World Bank Publications. This book was released on 1991 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report documents discussions on urban poverty issues in the developing countries of Latin America, Africa, and Asia related to the urban poor's access to basic infrastructure services. Basic infrastructure services are services that allow the urban poor to live under conditions that facilitate their income-generating activities so they can maintain a good nutritional level and participate in the normal activities of society. Services include housing, transportation, water, sanitation, solid waste disposal, and energy for cooking and lighting. In addition to discussing ways to improve the conditions of the poor in urban areas through the provision of basic infrastructure services, the workshop also laid the groundwork for follow-up regional senior policy seminars in Latin America, Africa, and Asia. While workshop participants did not attempt to conclude with formal policy recommendations, they did develop general areas of consensus. The focus of the workshop discussions were on the following concerns: financial issues; the role of nongovernmental organizations; the role of governments; and the relationship between nongovernmental organizations and the governments.
Book Synopsis Mobilizing urban infrastructure finance within a responsible fiscal framework : South African case by : Philip Van Ryneveld
Download or read book Mobilizing urban infrastructure finance within a responsible fiscal framework : South African case written by Philip Van Ryneveld and published by World Bank Publications. This book was released on 2006 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Since South Africa held its first democratic elections in 1994, it has given significant attention to building an effective system of decentralization including provincial and local government. While provincial governments are responsible mainly for the implementation of social services such as health and education, the provision of much of the urban infrastructure is the responsibility of local government. Although many challenges remain, the country has made significant progress over the past decade in addressing urban service backlogs in poor areas. At the same time, it has greatly improved macroeconomic fundamentals. The system of financing local government seeks to place accountability firmly at the local level, with most revenues in the larger urban centers raised locally through a combination of local taxes and fees for services, while poorer regions are predominantly grant funded. The objective has been to encourage the financing of capital infrastructure through local borrowing based on sustainable, transparent local finances rather than national repayment guarantees, which are outlawed. There is some indirect subsidization of loans through the state-owned Development Bank of Southern Africa. But the emphasis is on achieving redistribution through transparent, formula-based grants paid directly from national to local governments. While further bedding down of the system is needed, the approach is proving largely successful. The paper concludes by recommending that the existing division between provinces as providers of social services and local governments as the key locus of responsibility for services related to the built environment should be strengthened, particularly through the devolution of more urban transport related functions. A number of key risks are also highlighted, including issues related to the reform of local business taxes.
Book Synopsis Financial Inclusion for Poverty Alleviation by : Essam Yassin Mohammed
Download or read book Financial Inclusion for Poverty Alleviation written by Essam Yassin Mohammed and published by Routledge. This book was released on 2017-12-12 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than one billion people still live below the poverty line – most of them in South Asia and Sub-Saharan Africa. Financial inclusion is a major issue, as more than three-quarters of the numbers of poor and disadvantaged women and men do not have access to financial products and services, such as bank accounts, affordable and suitable loans, and insurance. The key objective of this book is to provide practical case studies of financial inclusion, rather than focus on academic debates such as the ideological basis of promoting microfinance. Using the recently adopted Sustainable Development Goals as an overall framing of the issues, it shows how poor and disadvantaged women and men can be bankable if the right facilitation for maximizing opportunities and addressing constraints are in place. Case studies confirm that achieving inclusive and sustainable access to financial products and services goes beyond simply enabling poor and disadvantaged women and men to have access to credit, or the ability to open a bank account. Examples from Africa, Asia and Latin America demonstrate encouraging progress in making microcredit accessible to millions of poor people. The foremost challenge, however, has been to ensure that they have access to, and usage intensity of, suitable and affordable financial products and services that meet the needs of their livelihoods as well as risks and mitigation strategies. This requires understanding that poor and disadvantaged women and men do not exist in isolation from complex and interdependent functions in the financial system, which includes a number of actors, diversified services, constraints (not just symptoms) and capacities and incentives. Overall, the book provides a rich source of examples of how building inclusive financial systems can empower the world's poor – by increasing income and employment opportunities, securing livelihoods and reducing poverty.
Book Synopsis Access to Microfinance and Financial Training for Innovative Urban Sustainability by : Musau Mutisya
Download or read book Access to Microfinance and Financial Training for Innovative Urban Sustainability written by Musau Mutisya and published by African Books Collective. This book was released on 2014-10-06 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Kenyan population is highly concentrated in urban centres, leading to increased social, economic and environmental strains, with a significant percentage of urban dwellers living in sprawling slums. Urban development is increasingly a major focus, especially in the fight against urban sustainability problems. There is little practical orientation in the academic literature for the growing gap between the rich and poor. Current literature is enormously concerned with resource use and environmental pressures, paying scant attention to the nexus between urban sustainability and empowerment of the urban poor. This book initiates debates on the segment of urban population often referred to as the bottom of the pyramid (BOP), by analysing the microfinance innovation following evaluation of the impacts of access to microfinance and financial training and the implications to urban sustainability in Kenya. The main conclusion reached is that microfinance has an instrumental role to play in promoting sustainable urban development as it supports social welfare improvement and increases the livelihood of participants, business development and urban sustainability to a certain extent, thereby empowering the urban poor in contributing to poverty alleviation.
Book Synopsis Understanding Pro-poor Housing Finance in Malawi by : Mtafu M. Z. Manda
Download or read book Understanding Pro-poor Housing Finance in Malawi written by Mtafu M. Z. Manda and published by IIED. This book was released on 2011 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis COVID-19 prevention measures in Ethiopia: Current realities and prospects by : Baye, Kaleab
Download or read book COVID-19 prevention measures in Ethiopia: Current realities and prospects written by Baye, Kaleab and published by Intl Food Policy Res Inst. This book was released on 2020-05-12 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Immediately after the first confirmed case of COVID-19 in Ethiopia in March 2020, the Government of Ethiopia took several public health measures to prevent increased levels of infection These included closing all schools and restricting large gatherings and movements of people. Hand-washing and social distancing were the main prevention measures that government has communicated to the general public through various media platforms. Using the latest round of the Ethiopian Demographic and Health Survey, COVID-19 relevant indicators related to household access to communication platforms; access to water, sanitation, and hygiene (WASH); and characteristics of the home environment were assessed. The analysis shows that a sizeable proportion of the rural population does not have access to the media platforms used to publicize COVID-19 prevention measures. Moreover, without aggressive interventions, current levels of access to water and soap are suboptimal to adopt the hand-washing recommendations, particularly in rural areas. The low proportion of households with electricity, refrigeration, or internet connection and the relatively high prevalence of partner violence suggest that implementing the stay and work from home measures will be challenging. Public health measures that slow down the transmission of the virus should be continued and efforts to prevent transmission to rural areas should be prioritized. Communication platforms and messaging will need to be adapted to different local realities to make any COVID-19 containment recommendations operational. WASH-related support should be ramped-up, and addressing barriers to staying at home, such as the risk of partner violence, should be considered. The efforts needed to end the current pandemic in Ethiopia, as well as similar pandemics in the future, illuminates the serious challenges related to WASH and to the inequalities between rural and urban areas that need urgent attention.
Book Synopsis Housing Finance System in South Africa by : Vuyisani Moss
Download or read book Housing Finance System in South Africa written by Vuyisani Moss and published by UN-HABITAT. This book was released on 2008 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Banking on the Poor by : Anthea Dallimore
Download or read book Banking on the Poor written by Anthea Dallimore and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Access to Financial Services by : Stijn Claessens
Download or read book Access to Financial Services written by Stijn Claessens and published by World Bank Publications. This book was released on 2005 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper reviews the evidence on the importance of finance for economic well-being, provides data on the degree of use of basic financial services by households and firms across a sample of countries, assesses the desirability of more universal access, and overviews the macroeconomic, legal, and regulatory obstacles to access using general evidence and case studies. Although access to finance can be very beneficial, the data show that universal use is far from prevalent in many countries, especially developing countries. At the same time, universal access has generally not been a public policy objective and is surely not easily achievable in most countries.
Book Synopsis Economics of South African Townships by : Sandeep Mahajan
Download or read book Economics of South African Townships written by Sandeep Mahajan and published by World Bank Publications. This book was released on 2014-08-25 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries everywhere are divided within into two distinct spatial realms: one urban, one rural. Classic models of development predict faster growth in the urban sector, causing rapid migration from rural areas to cities, lifting average incomes in both places. The situation in South Africa throws up an unconventional challenge. The country has symptoms of a spatial realm that is not not rural, not fully urban, lying somewhat in limbo. This is the realm of the country’s townships and informal settlements (T&IS). In many ways, the townships and especially the informal settlements are similar to developing world slums, although never was a slum formed with as much central planning and purpose as were some of the larger South African townships. And yet, there is something distinct about the T&IS. For one thing, unlike most urban slums, most T&IS are geographically distant from urban economic centers. Exacerbated by the near absence of an affordable public transport system, this makes job seeking and other forms of economic integration prohibitively expensive. Motivated by their uniqueness and their special place in South African economic and social life, this study seeks to develop a systematic understanding of the structure of the township economy. What emerges is a rich information base on the migration patterns to T&IS, changes in their demographic profiles, their labor market characteristics, and their access to public and financial services. The study then look closely at Diepsloot, a large township in the Johannesburg Metropolitan Area, to bring out more vividly the economic realities and choices of township residents. Given the current dichotomous urban structure, modernizing the township economy and enabling its convergence with the much richer urban centers has the potential to unleash significant productivity gains. Breaking out of the current low-level equilibrium however will require a comprehensive and holistic policy agenda, with significant complementarities among the major policy reforms. While the study tells a rich and coherent story about development patterns in South African townships and points to some broad policy directions, its research and analysis will generally need to be deepened before being translated into direct policy action.
