Queen Elizabeth II Diamond Jubilee Scholarship
In support of the Inclusive Innovation collaboration between the University of Cape Town
Graduate School of Business and the University of Toronto
Internship Outline 2016
Introduction
The University of Cape Town Graduate School of Business and the University of Toronto
are involved in an exciting collaboration to build a network of student leaders trained in
inclusive innovation to work together to address the challenges of low-income
communities, and how to promote innovative and workable solutions.
As part of this collaboration, we have a selection of students from the Munk School of
Global Affairs in Toronto coming out to South Africa this year to conduct an 12-16 week
internship with host organisations.
Overview of Internship Opportunity
Organisation: FinMark Trust
FinMark Trust, an independent trust based in Johannesburg, South Africa, was
established in 2002, and is funded primarily by UKaid from the Department for
International Development (DFID) through its Southern Africa office. FinMark Trust’s
purpose is ‘Making financial markets work for the poor, by promoting financial inclusion
and regional financial integration’ as well as institutional and organisational
development, in order to increase access to financial services for the un-served and
undeserved. FinMark Trust commissions research to identify the systemic constraints
that prevent financial markets from reaching out to these consumers and by advocating
for change on the basis of the research findings.
FinMark Trust achieves its purpose by:
• Playing a catalytic role to make financial markets accessible, sustainable and inclusive
by promoting and supporting policy and institutional change across Africa;
• Providing information that encourages financial service providers to understand the
potential and characteristics of new market segments;
• Promoting financial capability and consumer financial protection;
• Promoting growth and integration in the financial services sector in Southern Africa,
focusing on SADC member states and contributing to the process of regional policy
harmonisation, together with translating and setting best practice through evidencebased advocacy.
For more information visit www.finmark.org.za
The establishment of a new centre: Insight2impact (i2i)
FinMark Trust (FMT) and The Centre for Financial Regulation and Inclusion (Cenfri) are
jointly establishing a new centre funded by the Bill & Melinda Gates Foundation and in
partnership with The MasterCard Foundation. The centre has secured funding for five
years to drive data-led decision making for more effective financial inclusion. The centre
will serve as a central convening point for financial inclusion research in Sub-Saharan
Africa. One of the objectives of the centre will be to increase the use and quality of
financial inclusion survey (FIS) and geospatial (GIS) data, research and methodologies.
The FIS data is typically collected by market facilitators such as the Financial Sector
Development Trusts (FSDs) and the GIS data by Central Banks in their respective
countries. These data types are seen as a public good that financial inclusion
stakeholders can use to better understand the landscape for financial inclusion in their
markets and better identify and design appropriate interventions targeting financially
underserved individuals. This work is undertaken by the Data Quality (DQ) team of i2i,
which is based at FMT in Johannesburg.
For more information visit http://www.i2ifacility.org/ or http://cenfri.org/insight2impact
Outline of Internship Project
I2i at FMT is looking for highly driven interns, with a passion for real world economic
development and high levels of curiosity for solving complex problems in development.
The internship would involve assisting on the DQ team’s programmes, specifically around
research and influencing best practice in FIS and GIS to improve understanding of the
financial inclusion landscape. Current activities the intern is likely to work on include:
1. Improving FIS data and research reliability and relevance by reviewing existing
survey instruments and creating one or more modules (such as digital financial
services) that optimally cover content gathered from individual respondents
through a pen-and-paper administered survey format.
2. Improving FIS data and research reliability and relevance by identifying potential
innovations and best practices in survey research and elaborating on how these
can be best applied to the FIS environment.
3. Piloting a Financial Inclusion module as part of an existing survey or using a new
innovation.
4. Furthering GIS sustainability by documenting an innovating pilot on GIS data
collection and identifying how this can be adapted and scaled in different
countries.
How does the completion of the internship assist the
organization?
The intern will work closely with other team members and the research activities
outlined are key to the DQ team’s programme goals. There are therefore significant
opportunities for interns to learn from experienced researchers, and to contribute
towards reaching project, programme and company level objectives.
What skills might the intern learn on the project?
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Improved research, analytical, writing and presentation skills
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The importance of research and data analysis on informing regulation
Gain in depth experience in the field of financial inclusion across emerging markets
Capacity building skills in the financial sector
What skills would the intern need to have, in order to undertake
the project?
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Strong interpersonal skills, creativity and ability to mix with other people, particularly
in an emerging market setting
Resilience and tolerance for ambiguity and change
Deep passion for inclusive innovation
High energy levels with a bias for action
Numerate and literate
Good analytical thinking ability and quantitative analytical skills
A strong interest in research-related activities
Innovative, conceptual problem solver
Dynamic, open minded and flexible
Good writing and presentation skills and proficiency in MS office applications
Stata would be an advantage
Duration of placement
The project is ideally 12-16 weeks duration, across May 2nd – September 2nd 2016.
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