Digital financial services at the heart of the 13th roundtable of AfPI Leaders

The 13th Roundtable of leaders from the African Financial Inclusion Policy Initiative (AfPI) took place from June 24 to 27, 2024, in Abidjan, under the presidency of the Minister of Finance and Budget, Adama Coulibaly. This year, the event brought together approximately 150 delegates, including finance ministers, central bank governors, as well as representatives from the private sector and civil society, all engaged in discussions on the theme « Digital Horizons: Strengthening the Building of an Inclusive Future in Africa. »

Bringing together financial decision-makers, private sector representatives, and development partners, this event provided a platform to debate strategies aimed at promoting secure and inclusive digital infrastructures to support economic growth and job creation across the continent.

The AfPI Expert Group plays a crucial role in advancing financial inclusion in Africa

« At the heart of the discussions were digital financial services (DFS), which played a central role. Members of the AfPI Expert Group (EGFIP) shared updates on recent developments in consumer protection for DFS, discussed policies and strategies to enhance cybersecurity, and explored regulatory prerequisites for the construction and effective implementation of public digital infrastructures.

« The AfPI Expert Group plays a crucial role in advancing financial inclusion in Africa, ensuring that AfPI’s components and deliverables reflect current critical issues and challenges, » said Dr. Eliki Boletawa, Director of Programs and Policy Implementation at AFI.

The upcoming challenge is to ensure that public digital infrastructure is integrated into various sectors of the economy to deepen financial inclusion

« The upcoming challenge is to ensure that public digital infrastructure is integrated into various sectors of the economy to deepen financial inclusion, » said Lucy Charles-Shaidi, Vice-Chair of EGFIP and Director of National Payment Systems at the Bank of Tanzania. « Promoting public-private partnerships will be essential in this regard. »

Discussions also highlighted significant progress in financial inclusion in sub-Saharan Africa. According to Côte d’Ivoire’s Minister of Economy, Planning, and Development, Kaba Nialé, the digitalization of products and services, facilitated by a high penetration rate of mobile telephony, has played a crucial role in increasing the level of financial inclusion, which rose from 34% in 2013 to 72% in 2023 in the sub-Saharan region.

Madame Nialé also emphasized reforms within the West African Economic and Monetary Union (WAEMU), particularly in the regulation of electronic money, contributing to an enhanced environment for financial inclusion.

A partnership of 2 million euros with the EU to promote financial inclusion in sub-Saharan Africa

Francesca Di Mauro, Ambassador of the European Union to Côte d’Ivoire, called for strengthening financial infrastructures and improving regulations to support financial inclusion. She also announced a partnership of 2 million euros with AfPI to promote financial inclusion in sub-Saharan Africa.