James Claude, GVG’s CEO, was invited to give his perspective on the catalytic effect of digital and financial inclusion in Africa in the context of a prime-time interview with CNBC Africa.
James is of the opinion that a revolution in underway on the continent in that respect, thanks to neobanks, for instance, even though there is still work to be done. According to him, the path to a truly inclusive digital economy starts with a regulatory overhaul including the adoption of new technologies for oversight purposes, adaptive regulation, regulatory harmonization and intercontinental collaboration of regulatory bodies. Next, the identity gap needs to be addressed, through the implementation of digital identities that will allow citizens to not only safely transact online, but also to contribute to their country’s development by easily paying their taxes. This led James to mention the need for further investment in Africa. In his view, while strategic foreign investment plays an important role, African countries also have the possibility to finance their own development projects by leveraging the expansion of key economic sectors.
Do you want to watch the June 2021 interview of James G. Claude also on CNBC? Click here.