ARUSHA-Bank of Tanzania and AFI are co-hosting the 2022 meetings of the African Financial Inclusion Policy Initiative (AfPI) and AfPI Leaders’ Roundtable on 20 – 23 June 2022 in Arusha.
The meetings of AFI members in Africa focus on how digitization of inclusive finance can ensure stability, growth and sustainability. Governors and deputy governors will share policy solutions that drive digital financial inclusion and remove barriers faced by the region’s vulnerable groups such as women, youth, micro, small and medium size enterprises (MSMEs) and other disproportionately excluded communities.
“These regional meetings on financial inclusion are critical for a number of ways: firstly, for cross-pollination of ideas on practical policy implementation in advancing financial inclusion.
Secondly, for showcasing progress made in fostering inclusive finance in the countries, and thirdly for expanding private and public collaboration in advancing appropriate, accessible and affordable digital inclusive financial services,”Bank of Tanzania Governor, Prof. Florens Luoga explained about the week of events in Arusha.
An imperative and a necessity not only to foster inclusive growth, financial inclusion also supports public policy objectives of financial stability and price stability, Governor Luoga said.
“The more inclusive the financial services are to the population and all its sectors, the more effective it will be for the Bank and the Government to implement its development policies”, Governor highlighted.
Financial sector regulators and policymakers from nearly 32 member institutions, representing 30 countries are taking part in the week of knowledge exchange on development and implementation of financial inclusion policies with special focus on digital financial services, potential of central bank digital currencies (CBDCs) for financial inclusion and use of supervisory and regulatory technologies (SupTech & RegTech).
They will also share experiences on supervision of financial technologies (FinTechs), as well as gender inclusive finance and youth inclusive finance. Speakers include leaders from Kenya, Mozambique, Eswatini, BCEAO, Ghana, Nigeria, among others.
Earlier in the week, meetings of AfPI’s Expert Group for Financial Inclusion Policy (EGFIP), training on Regulatory and Supervisory Technologies, Public-Private Dialogue (PPD) and Developing-Developed Countries Dialogue (3D) are taking place. AfPI EGFIP elected new leadership with Bank of Namibia taking over as EGFIP Chair from Bank Al Maghbrib and Bank of Tanzania elected as Vice Chair.
“Through AFI’s services that hinge on peer-learning and knowledge exchange, coupled with technical support, partnerships, and capacity building, AFI members in Africa have reported over 150 policy changes between 2019 and 2021 in three thematic areas: digital financial services, national financial inclusion strategy and SME finance;
