High-profile development organisations around the world such as the Bill and Melinda Gates Foundation are recognising the transformative power financial inclusion can have on the lives of people at the base of the pyramid. These organisations are investing heavily in developing insights through organisations that promote effective policy, such as the Consultative Group to Assist the Poor. Regulation that promotes financial inclusion can benefit greatly from the latest findings and other case studies globally. According to the latest Finscope survey on financial inclusion, only 33% of South African adults have any form of savings, either at home or with formal or informal institutions. This is far below the next lowest Southern African Development Community member state, Malawi, which has a consumer savings rate of 43%. There is much work to be done to promote saving in SA, especially for those at the base of the pyramid. For those in this band, the ideal savings product should be ea...

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