In particular, acquisition of requisite skills is also crucial for the development of Africa’s informal sector, which account for the lion share of employment. In the short-term, technical and vocational skills are critical for building agroallied industries using basic technology.
At the same time, banks must perform anti-money laundering obligations spelled out in national laws and regulations by verifying customer’s identity with the aim of preventing money laundering crime and safeguarding financial security. Finally, it is conducive to protecting public interests. Many financial frauds are targeted at the general public .