The empowerment of women remains key to ensuring financial inclusion in the country, the Governor of Central Bank of Lesotho (CBL) Dr Retšelisitsoe Matlanyane revealed recently in an interview with Alliance for Financial Inclusion (AFI). Financial inclusion key towards inclusive private sector
The interview was part of the 2021 International Women’s Month celebration.
For a long time, women have been operating at the margins of the formal economy.
The role of women in the mainstream economy has been increasing over time with women’s participation in business.
“Financial inclusion is a catalyst to growth. It is therefore imperative that broad based financial inclusion is attained in order to unlock economic activity,” Dr Matlanyane said.
For a long time, developing economies have lagged behind in terms of financial inclusion.
The chronic lack of depth, according to the governor, has to a larger extent hindered financial inclusion.
However, development in technology in the recent years has brought revolutionary opportunities and broadened the scope for rapid developments of markets and products that have made financial inclusion much more possible.