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South Africa: Enhancing Financial Inclusion Through Innovative Fintech Solutions

Source: TechFinancials

Fintech service providers have a significant role to play in driving the financial inclusion national agenda. However, technology alone cannot address South Africa’s financial inclusion challenges – to create an enabling environment for financial sector innovation, stakeholders also require collaboration.

Altron Finech is a leading fintech that is helping to reshape the sector to enable financial inclusion with affordable merchant and consumer-cost-friendly accessible financial transacting solutions. Johan Gellatly, MD of Altron FinTech, says financial inclusion is a key focus of the Altron strategy. “South Africa’s informal, largely cash-based, economy is estimated to be worth anything from R250 billion to R750 billion depending which research body data is used. It’s substantial,” he says. He notes that cash-based informal trading comes with substantial risks and costs to merchants and consumers alike.

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