Investment Boost in Financial Technology Sector

TLDR

• As additional businesses outside the formal financial system emerge, this will boost government revenue and foster a fairer competitive environment among companies.
• Making electronic payments mandatory could boost this development by encouraging more citizens to use formal financial services.
• It formalises commerce, boosts transparency and fosters digital innovation to achieve long-term advantages such as a stronger tax system, wider financial inclusion, better access to finance, lower corruption, increased.