Congratulations to Senegal’s Ministry of Finance and Budget on the launch of their national financial inclusion strategy (NFIS). The four-year strategy, which runs until 2026 is centered around four main pillars: 

Pillar I aims to develop appropriate financial products with a focus on vulnerable segments of the population such as women, young people, people living in rural areas, and SMEs. 

Pillar II focuses on the development of the digital financial services infrastructure to underpin the government-to-person (G2P) payments and to broadly modernize the state financial services.

Pillar III is centered around the improvement of financial culture and the protection of users of financial services. Here the objectives are to establish a national mechanism for the promotion and coordination of financial education and consumer protection.

Pillar IV targets the establishment of a conducive and efficient regulatory and institutional framework for financial activity and consumer protection. This will be achieved through the strengthening of partnerships between different stakeholders and the establishment of an institutional framework for steering, implementing and monitoring of financial inclusion.