Fintech can drive youth employment, says UAE
Smartphones with focused investment in banking technology can dramatically increase the chances of survival SMEs
The convergence of smartphones with focused investment in banking technology can dramatically increase the chances of survival for small- and medium-sized enterprises (SMEs) in government supply chains. It also has the potential to boost economic activity and employment. These were some of the findings described by Jags KothandaPani, head of cash management at Citigroup for the Middle East, North Africa and Turkey, who was participating in a fintech and innovation panel at the media and community summit being hosted by the bank in Dubai on Tuesday. The findings come at a pertinent time for SA, as the country’s jobs summit explores ways in which the country can meaningfully alter the persistent and depressing levels of structural unemployment that have been a feature of the economy since the advent of democracy. SA’s youth unemployment rate was estimated at more than 52% for people aged 15 to 24 in the first quarter of 2018, according to Statistics SA. This represents one of the high...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.