September 26th, 2016

“Sustainable development is the pathway to the future we want for all. It offers a framework to generate economic growth, achieve social justice, exercise environmental stewardship and strengthen governance.” – Ban Ki-moon, United Nations Secretary-General

In the recently concluded 2016 Alliance for Financial Inclusion (AFI) Global Policy Forum (GPF) held in Nadi, Fiji, on 7-9 September, the issue of green finance and its linkages…

September 21st, 2016

The unbanked people of the world are so much more than a population in need of help. They’re a potential customer base waiting to enter the formal economy—and push it to new heights.

A new report recently released by the McKinsey Global Institute demonstrates how digital financial services (DFS) can drive financial inclusion and economic growth at the same time.

According to Digital Finance for All: Powering Inclusive Growth…

September 19th, 2016

This article is adapted from a speech delivered on 8 September 2016 by Mr. Norbert Mumba, Deputy Executive Director, AFI, at the launch of the AFI Data Portal (ADP). Please sign up for your individual account to access the Portal via www.afi-dataportal.org. Anyone is eligible to access the ADP.

At the Alliance for Financial Inclusion (AFI) Financial Inclusion Data Working Group (FID WG) Meeting held in San Salvador, El Salvador,…

September 6th, 2016

This week, the Alliance for Financial Inclusion (AFI) will kick off its eighth annual Global Policy Forum (GPF) in Nadi, Fiji. The 2016 GPF will be the largest GPF ever, bringing together over 500 high-level financial sector policymakers, regulators and other stakeholders to explore the theme, “Building the Pillars of Sustainable Financial Inclusion.”  

Having participated in all but one GPF, I thought it would be a good time to…

August 24th, 2016

The Caribbean Context

While Latin America has been experiencing fast economic growth over the last decade, progress in the Caribbean sub-region has been a bit slower. Natural disasters and low commodity prices have pushed Caribbean countries to seek financial reforms. In an attempt to overcome poverty, the largest countries in the region have been implementing financial inclusion policies and regulations for innovations like digital…

August 17th, 2016

In Tanzania, access to financial services for the unbanked expanded drastically when convenient and relatively cheaper options became available to receive and send money through simple feature mobile phones.

Four mobile network providers were in stiff competition in a market of 39 million registered mobile wallets (this registered wallet number does not include multiple wallet holders nor some of the dormant wallets from providers…

August 16th, 2016

AMPI’s new Chair on his vision for AMPI and DFS opportunities for Africa

The Governor of the Bank of Mozambique, Mr. Ernesto Gouveia Gove, was elected in February 2016, as the new Chair of the African Mobile phone Financial Services Policy Initiative (AMPI) for the period 2016 -2018. He provides some light on DFS opportunities for Africa and his vision for AMPI in this Q&A.

How has Africa been able to maintain its leadership in…

July 1st, 2016

Good data illuminate our world. It can make invisible markets visible. This is why the application of data to promote evidence-based financial inclusion policy is vital.

I believe everyone in attendance at the Alliance for Financial Inclusion’s (AFI) 13th meeting of the Financial Inclusion Data Working Group (FIDWG) in San Salvador on 5-7 April 2016 would agree with this notion.

Coming out of that meeting, I have identified…

June 9th, 2016

Ninety-nine percent of Canadians have an account at a formal financial institution, and 98% of adults belonging to the poorest 40% have an account. Yet, in Canada too, some Canadians are underserved by the formal financial system and face barriers in accessing and using financial products.

Canada has developed efforts to boost financial capabilities for all Canadians through Canada's Financial Literacy Strategy. It mobilizes a wide…

June 2nd, 2016

How can financial regulators foster the use of mobile financial services among MSMEs?

This article is the second of a series of two blog posts looking at the issue of driving the uptake of mobile financial services among MSMEs. It explores different ways in which financial regulators can encourage the adoption of mobile money among MSMEs.

As discussed in the previous blog of this series, getting more MSMEs to use mobile financial…