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FinMark Trust, the Learning, Monitoring and Research Facility (LMRF) for KwaZulu-Natal and the South African Local Economic Development Network co-hosted a seminar to highlighted and promote awareness of a new wave of microfinance that is sweeping through Africa. SaveAct and VSL & Associates were invited to share their experiences in this model.

The seminar was well attended by organisations involved in pro-poor financial services, financial institutions, KZN government (Department of Economic Development), research institutions and NGOs.

The programme was directed by the CEO of the South African Savings Institute (SASI), Mmakgoshi Phetla-Lekhethe. She opened the seminar with an overview of what SASI does and their analysis of the financial sector situation in relation to consumer behaviour and alarming levels of indebtedness versus a deteriorating culture of savings. Some of the worrying factors include the increased number of people registering for debt counselling (about 3 500 per month), while savings levels have decreased to 1% of household income.

Below is a brief seminar report and two powerpoint presentations.