No single entity can drive Africa’s progress alone, especially where big gains in financial inclusion and closing the digital divide are needed for the population to take an active role in the digital economy. “We want to go faster, so we have to go together. And that means we need to partner and collaborate with others,” said JSE CEO Leila Fourie, while outlining the bourse’s partnership strategy in the latest episode ofThe Y’ello Chair.
The Y’ello Chairis MTN’s vodcast series featuring exclusive insights from leaders and changemakers on the forces driving the continent’s digital future. Hosted by Nozipho Tshabalala, CEO of The Conversation Strategists, the newest episode features insights from Fourie along with MTN Group CFO Tsholofelo Molefe — watch it below. Fourie highlighted the potential for deeper collaboration between financial institutions and telecommunications operators, noting that the mobile phone is a lifeline for millions and a crucial channel for financial access.
“The man on the street who uses a mobile phone is that same person who trades on the exchange,” said Fourie, who will soon step down from her position at Africa’s largest stock exchange. Molefe expanded on this, describing a necessary “convergence” between connectivity and financial services. Molefe argued that digital highways were the foundation on which financial inclusion was built, allowing farmers access to markets and students access to education.
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This convergence is not just about profitability, but about creating an enabling environment for competitiveness in the formal sector. “That convergence is really about the coming together of connectivity and financial services. Because that’s the direction the world has taken.” The goal of financial inclusion is a key tenet for both MTN and the JSE.
While both entities have done well — MTN recently surpassing 300-million customers and the market cap of companies listed on the JSE now up to R23-trillion — they understand that bringing more people into their respective ecosystems is necessary for their sustainability. How does each business add customers if there are barriers preventing people having access to simple accounts, the internet, and a lack of financial literacy? The executives underscore that inclusion is an economic imperative, not just a social licence to operate. It’s about how we deliver real, tangible impact for people who were previously excluded from economic participation so they can now take their place as active participants in the economy
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