• Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

All data is delayed
Loading...
See More

Gordhan: Banks must be more inclusive

Aug 23 2011 11:09
Sapa

Johannesburg - Lack of access to banks is still a big problem in South Africa and must be addressed by the financial sector, Finance Minister Pravin Gordhan said on Tuesday.

"Access to banking remains a key priority... there has been improvement, but more can certainly be done," Gordhan told the Banking Association of SA's second annual banking summit.

He was aware of innovative developments in banking, such as mobile banking in rural areas, but these needed to be reinforced and sped up.

"These innovations must surely make it possible to bank more than 70% of South Africans by 2013," he said.

Gordhan said high bank charges were also still a concern.

Although there was evidence the banking sector was moving in the right direction, it might "need some help to cross the threshold", he said.

Asked whether banks should be nationalised, Gordhan answered: "We are a democracy... we don't lock people up for expressing what might sound like heretical views.

"As a government we have made it very clear our views... the banks are there, they'll work."

Gordhan encouraged banks to be more supportive of small and medium businesses.

"A critical area where banks can make an important contribution... is in the area of lending to small and medium business."

He said more resources should be directed to this sector to promote entrepreneurship and to ensure small and medium businesses made a more meaningful contribution to the economy.

pravin gordhan  |  financial sector  |  banks

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
13 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...