Moses D Pelaelo: Bridging the inclusion gap through financial literacy

Keynote address by Mr Moses D Pelaelo, Governor of the Bank of Botswana, at the inaugural Banking and Wealth Expo, organised by the Bankers' Association of Botswana, Gaborone, 16 November 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Distinguished Ladies and Gentlemen, it is indeed an honour and great pleasure for the Bank of Botswana to co-host this Executive Networking Dinner as part of the events of the inaugural Banking and Wealth Expo organised by the Bankers Association of Botswana. In line with the theme of the Expo, "Bridging the Inclusion Gap through Financial Literacy", my remarks this evening will focus on four areas, namely, (a) importance of financial inclusion, especially for inclusive economic growth (b) financial literacy as an essential ingredient for inclusive financial sector; (c) impact of financial sector regulation and (d) the role of sound and stable macroeconomic environment, with emphasis on price stability. 

As His Honour the Vice President indicated, in his official opening remarks yesterday, financial inclusion has been identified as one of the key strategic priorities for financial sector development in Botswana. In this regard, a number of related initiatives form part of key policy documents such as National Development Plans, and the Financial Sector Development Strategy (2012 - 2016).