summarise the following Sustainable and inclusive economic growth and development will be aided by improving access to financial services for the poor, vulnerable and those in rural communities. In spite of the relative success of the Mzansi bank account initiative6 in 2010, 37 per cent of 33 million South African adults did not have a bank account and only 40 per cent had a formal long-term insurance product7 . Government will act to ensure the implementation of the transformation objectives of the Financial Sector Charter, focusing on greater access for the poor and the promotion of broad-based black economic empowerment. These objectives can be achieved without undermining financial stability or promoting reckless credit practices. Government has created an enabling framework for co-operative banks, is working at facilitating the entry of smaller dedicated banks, is improving the governance arrangements of the Postbank and intends to introduce a micro insurance framework that will improve access to micro insurance products and services. Further details are set out in Chapter 6