Africa-Press – Eswatini. ”Financial inclusion is the pillar of the country’s economic development strategy”, Felicia Dlamini-Kunene, the Deputy Governor of the Central Bank of Eswatini(CBE) said during the official launch of the newly introduced MTN Eswatini Fintech Services’ cross-border remittance payment system.
Central Bank Deputy Governor Says Financial Inclusion a Pillar of the Country’S Economic Development Strategy. Dlamini said, the transfer of remittances has been evolving for far too long and as a result, citizens living outside the country have faced various challenges when transferring funds to their loved ones.
“Either securely, conveniently or at a reasonable cost.Today, that changes. Those living in South Africa will now have the opportunity to use this innovative platform to send money into the country with greater ease and affordability. I would like to remind all players in the financial sector that the lilangeni is pegged 1 to 1 to the South African rand.Therefore, the transfer cost should stay at the exact value of the lilangeni.Financial inclusion is not merely a buzzword/phenomenon but a fundamental pillar of our economic development strategy. It is most critical to improving the well-being of emaSwati. By licensing MTN Fintech Services as an Authorized Dealer with Limited Authority, as Central Bank, we have demonstrated our unwavering commitment to ensuring that every liSwati, regardless of location, age, gender, condition (disability), and social status, has access to reliable and affordable financial services”, said the Deputy Governor.
The newly launched MTN Eswatini Fintech Services is highly expected to ease the transfer of monies amounting to twenty-five thousand Rands(R25,000.00) with minimum charges.
This comes amid inconvenience in the banking system regarding the transfer of monies under Forex between countries within the Common Monetary Area(CMA).
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