Dear Select Committee on Finance,

1. Introduction

The Civil Money Investment App is a community-driven financial technology (FinTech) innovation designed to empower South African citizens by improving access to savings, investment, and community development funds. The app aims to reduce poverty, promote financial literacy, and provide transparent investment opportunities aligned with the goals of inclusive economic growth.


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2. Purpose of the Report

This report is submitted to the Parliament Committee on Finance to:

Present the objectives and functions of the Civil Money Investment App.

Highlight its benefits for communities and the broader economy.

Recommend parliamentary support and recognition of this initiative as a model for community-based digital finance.



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3. Key Features of the Civil Money Investment App

Digital Savings & Investment: Enables individuals and community groups to save collectively and invest in verified projects.

Transparency & Accountability: Blockchain-based tracking of funds to prevent misuse.

Community Development Focus: Prioritizes investments in housing, agriculture, youth development, and local businesses.

Financial Literacy Tools: In-app learning resources to empower users with knowledge about money management and responsible investment.

Inclusive Access: Designed for both urban and rural users, with multilingual support.



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4. Benefits to South Africa

Economic Empowerment: Unlocks local capital for small businesses and social enterprises.

Job Creation: Investments directed towards youth and community projects stimulate employment.

Trust in Finance: Transparency restores public confidence in community funds.

Alignment with National Goals: Supports NDP 2030 targets on poverty reduction, financial inclusion, and digital economy growth.



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5. Challenges & Risks

Regulatory Compliance: Requires alignment with financial laws, including the Financial Sector Regulation Act.

Digital Divide: Accessibility challenges for communities without internet or smartphones.

Capacity Building: Need for ongoing financial literacy training.



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6. Recommendations to the Committee on Finance

1. Policy Support: Recognise the Civil Money Investment App as a pilot model for community-based digital investment.


2. Partnerships: Encourage collaboration with banks, National Treasury, and the Financial Sector Conduct Authority (FSCA).


3. Funding & Grants: Consider parliamentary budget allocations or incentives for community-driven FinTech initiatives.


4. Legislative Oversight: Establish guidelines for safe, transparent, and inclusive community investment platforms.




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7. Conclusion

The Civil Money Investment App represents a forward-looking solution for strengthening financial inclusion and community empowerment in South Africa. With parliamentary support, this initiative can scale nationally, aligning with the country’s economic transformation agenda.