CHANGING SYSTEMS
Regional banks in Africa need to balance risk with financial inclusion
As an organisation with phenomenal convening power the World Economic Forum (WEF) has the potential to facilitate the germination of ideas and initiatives that can shape the future of the global economy and its related systems. One of its 14 initiatives is on financial and monetary systems that affect the banking sector. It is more than eight years since the 2008 global financial crisis plunged the world economy into turmoil and triggered policy reactions that continue to have a profound effect today. The theme of the recent WEF Africa meeting — "Achieving inclusive growth" — provided an opportunity to reflect on the regulatory changes put in place since then and what they mean for the future. Perhaps a nuanced position that allows stronger regulation and financial integration and inclusion to take place simultaneously can emerge. There is no argument that better regulation was needed. Once the extent of the crisis became known, it was clear there had been reckless lending, as well ...
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