Orange Money bemoans financial exclusion
Mobile money operator, Orange Money has intentions to empower the country’s unbanked population, despite the challenges persistently faced on the financial inclusion front. Orange Money Chief Executive Officer, Seabelo Pilane believes for Botswana to realise full economic potential, every citizen must have access to financial tools and services that enable participation in the modern economy.
He bemoaned that the country’s financial sector has evolved rapidly, yet significant barriers remain for many Batswana. With traditional banking systems often failing to reach informal workers, rural communities, and other underserved groups, Orange Money endeavors to close the gap. “We view this challenge as an opportunity to empower individuals, transform communities, and drive sustainable development,” said Orange Money Chief Executive Officer, Seabelo Pilane.
Pilane said the unbanked are the people who fuel the economy, yet they are the most likely to be excluded from its benefits. “We have made it our mission to bridge this gap, championing financial inclusion as a cornerstone of economic empowerment,” he said Orange Money has launched a financial inclusion campaign under the banner: Dumelang, to encompass every citizen into the financial ecosystem and instill confidence in their ability to achieve their dreams. “Through this campaign, we are re-imagining what it means to be financially included, shifting the focus from transactions to transformation.” Pilane said true financial inclusion goes beyond access. “It’s about providing individuals with the means to take control of their financial futures. It’s about ensuring that a mother running a small business can save for her children’s education, that a young entrepreneur can access the resources needed to start a venture, and that every individual, no matter their background, can participate in the digital economy with confidence.”
Last week, the World Savings and Retail Banking Institute (WSBI) highlighted that limited financial inclusion and sustainable development have become more unpredictable under the rapidly changing global landscape, punctuated with political shifts, evolving economic dynamics, and transformations in international institutions. WSBI continues to advocate for financial inclusion and sustainable economic development. The Institute, representing 6400 savings and retail banks serving 1.7 billion customers, across five continents has reiterated intentions to support its members navigate evolving regulatory landscapes to include the unbanked. WSBI Chief Executive Officer, Peter Simon said the Institute intends to build financial systems that are inclusive, resilient, and responsible, enabling communities to thrive. “We see finance as more than a mechanism of exchange, it is a catalyst for sustainable development,” said Simon at the 31st WSBI African Regional Group Meeting held in Kasane, last week.
The 31st edition was held under the theme: ‘Driving Sustainable Development: Financial Inclusion, Green Finance, and Responsible Banking.’ Simon bemoaned that global rules and agreements that once guided development and cooperation are increasingly questioned. “These shifts remind us that progress is never guaranteed, and the path ahead is unpredictable.” Simon emphasized that the Institute is committed to fostering financial inclusion, responsible banking, and sustainable development. He further said in moments of uncertainty, collaboration, dialogue, and mutual support become most valuable. “By staying committed to our shared mission, WSBI ensures that even in a world of unpredictability, we continue to build resilient institutions and stronger communities.”