Lack of data makes measure of financial sector transformation tough says DTI

According to Cas Coovadia, Managing Director of the Banking Association of South Africa, the Financial Sector Charter signed in 2002, represented the written and oral submission in today's public hearings on transformation of the financial services sector.

He believes the submissions are evidence of substantial progress of transformation in the financial sector industry.

We need to have broad based transformation.

Cas Coovadia, Managing Director, Banking Association of South Africa

Take a listen to Cas Coovadia below:

EWN Parliamentary Correspondent, Gaye Davis attended the public hearings on transformation of the financial services sector by Parliament’s finance and trade and industry committees.

Attendants agreed that the economy needs to be more inclusive in order for growth needed to tackle unemployment and poverty to be evident.

Davis added that the Department of Trade and Industry said their biggest challenge is the lack of adequate data needed to prove how transformational the financial sector is.

There is a general consensus that a lot more needs to be done.

Gaye Davis, EWN Parliamentary Correspondent

To listen to Gaye's full report listen to audio below:


This article first appeared on 702 : Lack of data makes measure of financial sector transformation tough says DTI


Recommended

by NEWSROOM AI
Read More
What should transformation in the banking sector look like?

What should transformation in the banking sector look like?

Managing Director of the Banking Association of South Africa, Cassim Coovadia shares his vision.

National Student Financial Aid Scheme's Sizwe Nxasana opens up about money

National Student Financial Aid Scheme's Sizwe Nxasana opens up about money

Bruce Whitfield interviews the NSFAS's Nxasana about his attitude to money (hopes and fears, successes and failures, etc.)

Hollow call for 'radical transformation' to win back dwindling support - analyst

Hollow call for 'radical transformation' to win back dwindling support - analyst

African National Congress (ANC) has launched its policy discussion documents and political analyst says they contain nothing new.

‘I’ll do it later’ – more wealth destroying than any market crash or recession

‘I’ll do it later’ – more wealth destroying than any market crash or recession

Personal Financial Advisor Warren Ingram discusses the extreme cost of procrastination and gives practical tips to overcome it.

Black entrepreneurs must not use Fica Bill as excuse for breaking law - Carrim

Black entrepreneurs must not use Fica Bill as excuse for breaking law - Carrim

Parliament's Standing Committee on Finance chair, Yunus Carrim, says it is not true that the Fica Bill gives power to the banks.

Fastest growing nations in the world are in Africa

Fastest growing nations in the world are in Africa

Poverty and governance challenges impede African countries from reaching their full potential to accelerate economic growth.

The finance sector is too large; trading volumes are absurd – economist John Kay

The finance sector is too large; trading volumes are absurd – economist John Kay

Mike Wills plays a snippet from the audiobook “Other People's Money: The Real Business of Finance” by John Kay.

How 'Twin Peaks' will change financial regulation in South Africa

How 'Twin Peaks' will change financial regulation in South Africa

What is “Twin Peaks” and what can we expect from this reform? How will it be implemented and how will it work?

Malema tackles ejection from Parliament, Zuma and 'white monopoly capital'

Malema tackles ejection from Parliament, Zuma and 'white monopoly capital'

Stephen Grootes spoke to EWN's Reinart Toerien about the issues Julius Malema addressed at his press conference this afternoon.

LHR on Operation Fiela, R23 bn. for black industrialists, Jiba's secret meetings

LHR on Operation Fiela, R23 bn. for black industrialists, Jiba's secret meetings

Round up of the big talkers out of CapeTalk's Breakfast with Kieno Kammies and 702's John Robbie Show

Popular articles
News24 exposes how big SA corporates are funding fake news

News24 exposes how big SA corporates are funding fake news

A News24 investigation has exposed how some of South Africa's biggest companies have been advertising on fake news websites.

Zille open to renaming Robben Island swim after 'nation-builder' Theo Yach

Zille open to renaming Robben Island swim after 'nation-builder' Theo Yach

Premier Helen Zille describes Yach as one of the most generous, warm, open-hearted and community-driven people she's ever known.

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone Viral'.

[WATCH] Man exposes people selling stolen goods on Facebook

[WATCH] Man exposes people selling stolen goods on Facebook

Anton Fourie says he used his phone to record the interaction to create awareness of what is going on in the community.

Pieter du Toit on VBS, Malema's EFF and contradicting ethics

Pieter du Toit on VBS, Malema's EFF and contradicting ethics

Malema has accused the rogue unit of still being operational and Pravin Gordhan of working in the background against the EFF.

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Cheryl Zondi is testifying against Pastor Timothy Omotoso who is accused of rape and human trafficking in his Durban church.