The Vice Chair of the African Financial Inclusion Policy Initiative (AfPI), the Bank of Ghana (BoG), has been chosen. Ghana will succeed to the AfPI Chair seat after two years. In 2023, the AfPI Leaders' Roundtable will take place in the Seychelles.
Professor Luoga greeted Governor Abel as the new chair during the exclusive AfPI Leaders' Discussion, expressing gratitude for the honour bestowed upon him and the assistance he received from the AFI Management Unit and from members of the AfPI.
Dr. Alfred Hannig, the executive director of AFI, complimented collaboration and involvement both in the Africa area and the worldwide network and thanked Prof. Luoga and the Bank of Tanzania for their leadership throughout the previous two difficult years of the global COVID-19 epidemic.
Before asking the incoming chair to speak, Dr. Hannig remarked, "This week's meetings were a tribute to what was achievable with direction and leadership of BoT and Professor Luoga."
Governor Abel accepted the position while feeling honoured and humbled about the new responsibilities for her organisation, noting that this "noble task of fostering parenthoods and exchanging experiences would further take the network to new heights and continue to play a critical role in peer learning on innovative financial inclusion policies across the African continent."
She underlined that variety provides many possibilities to obtain fresh ideas and boost efforts to go forward, both in the largest regional initiative of AFI and the worldwide network.
To improve financial services for everybody and promote inclusive and sustainable economic growth, we must adapt to changing circumstances, the Governor of the Seychelles remarked in her statements of acceptance.
The appointment of Governor Abel to the position of AfPI Chair highlights advancements achieved in the network's gender and women's inclusive financing as part of the Denerau Action Plan (DAP) project. The DAP, which was overwhelmingly endorsed by the network in 2016, aims to strengthen women's leadership, contribute to the Sustainable Development Goals, specifically Goal 5 on gender equality, and accelerate women's financial inclusion by halving the financial inclusion gender gap across AFI member jurisdictions by 2021.
The Leaders also accepted the EGFIP's revised structure, which now includes Bank of Namibia as its new chair, replacing Bank Al Maghrib. The Vice Chair has been chosen to be the Bank of Tanzania.
Four important developing policy topics were recognised by experts as needing attention: digital financial literacy, consumer protection for digital financial services, inclusive fintech, and data to track the impact of fintech on financial inclusion in the area.
Bank of Tanzania's role as Chair of AFI's African Financial Inclusion Policy Initiative (AfPI) was replaced by the Central Bank of Seychelles. On June 23, during the AfPI Leaders' roundtable in Arusha, Tanzania, Prof. Florens D.M.A. Luoga, Governor of the Bank of Tanzania, transferred the position to Governor Caroline Abel of the Seychelles. The first female governor to lead an AFI regional effort is Governor Abel.
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