Panel: Financial Inclusion - Investment in Prosperous and Resilient Societies Last week, I had the privilege of attending the Building Bridges Summit 2024 in Geneva, where global leaders gathered to discuss the pivotal role of financial inclusion in fostering sustainable development. A study in Mexico shows that a 10% increase in financial inclusion led to a 7% increase in jobs and a 3% increase in GDP contribution. Key Takeaways: Inclusive Finacial Systems - The necessity of creating inclusive financial systems that support sustainable development. - The importance of innovative financial instruments and partnerships to mobilize capital for underserved communities. Digital Financial Services - Leveraging technology to provide affordable and accessible digital financial services to marginalized populations. - Strategies to open access to finance for poor and vulnerable populations. - The role of digital financial services and sustainable finance in addressing climate change and promoting economic activity. Impact Investing - Generating positive social and environmental outcomes alongside financial returns. - Integrating impact considerations into investment decisions. Natural Capital - Incorporating natural capital into financial portfolios. - Emphasizing the need to value and protect natural resources as part of sustainable investment strategies. Insights from James Mwangi, Group CEO of Equity Bank Limited - Regulation: Identified as a barrier to access to finance. - Financial Literacy: The need for capacity to understand technical products. - Unorthodox Methods: Use of agents and a philanthropic mindset to unlock hard-to-reach segments. - Education and Health: Key constraints, with a noted correlation between health and defaults. The summit underscored the critical role of financial inclusion in building resilient societies and highlighted the need for collaborative efforts to achieve sustainable development goals. Brent Malahay #BuildingBridges2024 #FinancialInclusion #SustainableDevelopment #ImpactInvesting #NatureFinance
Kapwila Shachile, MBA, BSc, ACMA (UK), CGMA, FZICA’s Post
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