The 3rd Annual African Mobile Phone Financial Services Policy Initiative (AMPI) took place from 23-24 July in the Côte d’Ivoire capitol of Yamoussoukro. The group’s third annual meeting was focused on the changing landscape within the digital financial services industry, the innovations currently developing within fintech and how the region can continue to promote and support Africa’s global leadership in the field through AMPI.

In his welcoming statement, AFI Executive Director Alfred Hannig acknowledged the wide-ranging impact AMPI had already made in Africa through its promotion of effective policy solutions, support for peer learning, and role in identifying barriers and solutions for uptake and harmonization of regulations across the continent. “Digital financial services are a rapidly evolving field, but Africa continues to maintain its leadership position though innovation, flexibility and a strong institutional commitment to financial inclusion,” said Mr. Hannig. A special welcomed was given to the most recent AFI members to join AMPI Initiative, Central Bank of Egypt, Bank Al-Maghrib Morocco, Ministry of Finance of Swaziland, and Central Bank of Seychelles. The AfDB’s Mr. Robert Masumbuko, who attended on behalf of Vice President Solomon Asamoah, was also thanked for his participation in the meeting.

Early sessions provided a snapshot of some of the most topical issues and trends for digital financial services including cross border payments, interoperability issues, and how to leverage existing infrastructure to further accelerate adoption. Participants also heard from representatives of BCEAO on the impressive expansion of digital financial services that has taken place over the last few years within Cote d’Ivoire, which is currently experiencing the fastest digital finance growth rate of any country in Africa.

Participants then took some time to reflect on the strategic vision and activities of AMPI, and what new approaches might be considered as a result of the changes which have taken place in the field since AMPI’s two-year strategic vision was introduced. The strategy was based on four primary areas of interest; promotion of innovative policy solutions, the facilitation of advisory and capacity building activities, promotion of cooperation and engagement with the private sector, and strengthening the operation and organization of the AMPI Help Desk.

The AMPI Co-Chair, Governor Ernesto Gove of Banco de Moçambique, highlighted that despite the advancements that had been made throughout Africa, there were still wide gaps between some countries and suggested that the role of AMPI needs to be better defined, and the virtual Help Desk strengthened to give it the capacity to fulfill its role. Governor Gove suggested a stronger physical presence in Africa, dedicated staff and a more robust regional communication plan.

BCEAO Governor Tiémoko Meyliet Koné Kone, AMPI’s Chair, echoed the thoughts of Governor Gove, noting that there is no question about the demand for what AMPI offers, but cautioned that appropriate resources must be properly allocated. “The idea of the help desk is inspiring many and building up a strong demand, but if it is unable to meet the demand placed on it, we risk losing the momentum we have built,” said Governor Kone.

In the meeting’s concluding sessions, Governor Kone and Governor Gove were asked to extend their respective roles of Chair and Co-Chair, until February 2015, thereby establishing two-year terms as standard for AMPI Chair posts. AMPI members also agreed to conduct a full review of the AMPI mandate with a view toward providing stronger support for the Help Desk, including the possibility of changing the service from a ‘virtual’ office into a physical service center located in Africa. AFI members in Africa will take up these issues again at the AFI Global Policy Forum (GPF) in Maputo, Mozambique 1-4 September 2015 where a specific action plan for AMPI will be developed.

The African Mobile Phone Financial Services Policy Initiative (AMPI) was created to be the platform for Alliance for Financial Inclusion (AFI) member institutions in Africa to provide high-level leadership in the overall development of mobile financial services (MFS) policy and regulatory frameworks, and to coordinate efforts of regional peer learning.