While South Africa, together with other emerging-market countries, acknowledges that it still has a long way towards improving financial inclusion in the country, the fact that it is encouraged to play a leading role in this endeavour within the G-20 could help it to expedite financial inclusion policies in the country.
South Africa has a strong financial sector, and has used this to its advantage to contribute to G20 discussions to highlight its experience. In this regard, South Africa together with other emerging-market countries put in a concerted effort highlighting the potential unintended consequences of some of the Basel III proposals, without detracting from its firm commitment to implementing regulatory reform.