Households are spending more on entertainment, eating out and travel, particularly overseas travel. At one level, this was surprising given the clear signs of caution among households, but it is less surprising when account is taken of the on-going fast pace of increase in household income.
Distinguished Guest, Ladies and Gentlemen, Let me reiterate that the Challenge Fund is a competitive grant to be provided to BFIs to absorb some of their risks associated with innovative business ideas that better meet the financial needs of the smallholder farmers and micro, small and medium enterprises (MSMEs). It accords special attention to reducing discrimination towards women and traditionally marginalized groups.