23 August 2021
Central Bank of São Tomé & Príncipe has launched the 2021-2025 National Financial Inclusion Strategy (NFIS) for Democratic Republic of São Tomé & Príncipe, with AFI's support and guidance.
The major goal of this NFIS is to have 70 percent of the adult Sao Tomean population included in the formal financial sector by 2025. This goal was defined taking into account some of the advantages the country has, namely the coverage of the telecommunications network, the high penetration rate of cellular phones among the population, the small size of the country and the ease of access to the various areas of the territory.
The expected result of NFIS is to gradually and significantly increase the level of financial inclusion and, through it, the economic empowerment of Sao Tomeans, particularly women and other vulnerable population groups, through the use of digital technologies and the promotion of sustainable initiatives.
Read the full report here.