African Financial
Inclusion Policy
Initiative (AfPI)

African Financial
Inclusion Policy
Initiative (AfPI)

AfPI is the primary platform for AFI’s African members to support and develop financial inclusion policies, regulatory frameworks and other knowledge products in Africa, and to coordinate regional capacity building and peer learning efforts. Unveiled in May 2017, in Maputo, Mozambique, AfPI succeeds the African Mobile Phone Financial Services Policy Initiative (AMPI), which was launched in February 2013.

From AFI’s regional office in Abidjan, Côte d’Ivoire, AfPI brings together high-level representatives from financial policymaking and regulatory institutions in Africa. Stakeholders from private sector entities, telecommunications regulators and international development agencies also participate in and support AfPI activities. By establishing a platform for public and private engagement, AfPI aims to enhance the implementation of innovative financial inclusion policies in Africa.

Key AfPI initiatives include leaders’ roundtables, private-public dialogues, capacity building workshops, developed-developing country dialogues and experts group on financial inclusion policy meetings (EGFIP).

Key AfPI milestones, as of 2020:

39
Active member institutions
37
Countries
251
Policy changes
15
Knowledge products
331
Maya Declaration commitments
8
Annual AfPI Leaders’
Roundtables
8
EGFIP
meetings
8
Capacity building
workshops
8
Peer advisory programs on
in-country implementation
of financial inclusion policy
5
Regional Policy Frameworks
Establishment of the AFI Regional Office in Africa to strengthen the institutionalization of AfPI and support regional efforts

Adoption of a “Cooperative Arrangement Framework with Telecommunications Regulators” in the area of DFS

AFI Office in Abidjan

  • Plateau, Avenue Marchand Rue Lecoeur Immeuble SCIAM, 12ème étage 17 BP 412 Abidjan 17 Abidjan, Côte d'Ivoire

  • +225 20 22 16 10

LEADERS

CHAIR

Governor, Bank of Tanzania

CO-CHAIR

Governor, Central Bank of Seychelles

  • Reinforce the capacity building efforts of financial regulators to ensure that they keep up with the rapidly changing financial inclusion landscape and mitigate underlying risks.
  • Deepen the understanding of policy and regulatory approaches that enhance innovative financial services in Africa.
  • Reinforce the dialogue with private sector players and other related stakeholders through AFI’s public-private dialogue in Africa and other forms of cooperation.
  • Strengthen cooperation between financial and telecommunication regulators on issues related to digital financial services (DFS).
  • Deepen the understanding and learning of approaches for interoperable schemes or models to inform effective policy interventions for interoperability that support financial inclusion.
  • Promote DFS for agricultural micro, small and medium enterprises (MSMEs) and deepen the understanding of policy reforms to support agricultural finance.
  • Promote inclusive policies for women, especially by leveraging new technologies and promoting the adoption of regulations and financial consumer protection frameworks to advance women’s economic participation.
  • Strengthen synergies between microfinance institutions and DFS providers.
  • Facilitate the adoption of policy and regulatory approaches to enhance consumer protection for digital credit in Africa.

 

  • Coordinate the formulation of financial inclusion policies that address regional challenges.
  • Harmonize policies and regulatory approaches to deepen financial inclusion in Africa.
  • Facilitate high-level discussions among leaders to provide strategic guidance that addresses financial inclusion challenges in Africa.
  • Enhance in-country implementation of financial inclusion policies in Africa.
  • Share regional financial inclusion lessons with the wider AFI network.
  • Elevate the regional voice on key financial inclusion policy issues in Africa.

 

AfPI is part of the AFI network and any AFI member institution in Africa can participate in AfPI activities. AfPI operates under a governance structure consisting of the leaders’ roundtable, the chair and EGFIP. The chair serves for a two-year term and is replaced by the vice-chair at the end of the term. A new vice-chair is then elected.

 

AfPI activities are implemented and coordinated through the following mechanism:

  • AFPI LEADERS’ ROUNDTABLE
    AfPI leaders, high-level policymakers and regulators meet at an annual roundtable to discuss policy issues and provide strategic guidance. They also convene on the sidelines of the AFI Global Policy Forum to discuss other urgent matters.
  • AfPI CHAIR
    The chair provides leadership and guidance to EGFIP to ensure a smooth and successful implementation of the activities, and represents AfPI in its relations with governments and other entities.
  • EGFIP
    A group of senior officials from AFI member that undertakes the technical implementation of AfPI activities. They provide insight on policy and regulatory approaches to help address pertinent regional and sub-regional challenges on enhancing financial inclusion in Africa. Institutions that are members of EGFIP rotate within each sub-region every three years. AFI Management Unit coordinates the organization of meetings with leaders and EGFIP.

 

  • Banco Nacional de Angola
  • Banque de la République du Burundi
  • Ministère de l’Économie et des Finances de la Côte d’Ivoire
  • Banque Centrale du Congo
  • Central Bank of Egypt
  • Central Bank of The Gambia
  • Bank of Ghana
  • Banque Centrale de la Republique de Guinée
  • Central Bank of Kenya
  • Retirement Benefits Authority of Kenya
  • Sacco Societies Regulatory Authority Kenya
  • Central Bank of Lesotho
  • Central Bank of Liberia
  • Banque Centrale de Madagascar
  • Direction Générale du Trésor, Ministère des Finances et du Budget, Madagascar
  • Reserve Bank of Malawi
  • Banque Centrale de Mauritanie
  • Bank Al-Maghrib
  • Banco de Moçambique
  • Bank of Namibia
  • Ministère des Finances de la République du Niger
  • Central Bank of Nigeria
  • National Bank of Rwanda
  • Banco Central de São Tomé e Príncipe
  • Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO)
  • Ministère de l’Economie, des Finances et du Plan du Sénégal
  • Central Bank of Seychelles
  • Bank of Sierra Leone
  • South African Reserve Bank
  • Central Bank of Sudan
  • Central Bank of Eswatini
  • Ministry of Finance of Eswatini (Center for Financial Inclusion)
  • Bank of Tanzania
  • Ministère de l’Economie et des Finances du Togo
  • Ministère des Finances de la République Tunisienne
  • Central Bank of Tunisia
  • Bank of Uganda
  • Bank of Zambia
  • Reserve Bank of Zimbabwe

 

  • 7 AfPI leaders’ roundtables.
  • 6 capacity building workshops.
  • Facilitation of eight peer advisory programs on the in-country implementation of financial inclusion strategies.
  • AFI’s regional office in Abidjan, Côte d’Ivoire, established to strengthen the institutionalization of AfPI and support regional efforts.
  • “Framework for Innovative Cross-border Remittances in Africa” to address the challenges of uptake and usage of innovative cross-border remittances and to enhance efficiency of cross-border remittances in Africa.
  • “Framework for DFS Interoperability in Africa” to drive usage of financial services through interoperable platforms and schemes and to enhance DFS efficiencies, increase customer convenience and boost scale for both domestic and cross-border payments.
  • “Cooperative Arrangement Framework with Telecommunications Regulators” adopted for DFS.
  • “Policy Framework for Responsible Digital Credit”
  • “Policy Framework for Enhancing MSME Financing Ecosystem in Africa”
  • “Policy Catalogue of MSME Financing in the African Region”

 

© Alliance for Financial Inclusion 2009-2021