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MMI CEO on addressing income inequality
Rising income inequality has been singled out as one the biggest threats to the world economy at the WEF conference in Davos, Switzerland.
Wed, 18 Jan 2017 15:35:48 GMT
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AI Generated Summary
- Africa's competitiveness in the global context relies on public-private partnerships and regional cooperation
- Slow progress in micro insurance penetration highlights the need for better financial inclusion and literacy in Africa
- Embracing digital technologies like digital banking is crucial for the future of financial services in Africa
The World Economic Forum in Davos, Switzerland has been abuzz with discussions on rising income inequality and its impacts on the global economy. CNBC Africa's George Ndirangu sat down with Nicolaas Kruger, CEO of MMI Holdings, to delve into the topic of addressing this pressing issue. Kruger shared insights on Africa's competitiveness in the global context, emphasizing the role of public-private partnerships and regional cooperation in driving economic growth on the continent. He highlighted the importance of financial inclusion and the slow progress in micro insurance penetration, stressing the need for better access to financial services and enhanced financial literacy across Africa. The conversation also touched on the growing significance of digital banking and cryptocurrency, with Kruger acknowledging the importance of embracing digital technologies in the financial services sector. Additionally, the CEO provided an update on the equity markets in Africa, noting a degree of optimism and confidence among investors. As discussions at Davos continue to shape the global economic agenda, Kruger's insights shed light on the key strategies needed to address income inequality and drive sustainable growth in Africa and beyond.
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