Flagship reform
Banking of low incomes
Description
The flagship reform “Banking of Low Incomes” aims to facilitate the financing of actors constituting the bulk of the country's economic fabric, by removing all constraints linked to access to the banking and financial system, in particular by holding accounts. The implementation of this reform is structured around the following two axes:
- The development of “banking of low incomes” in peri-urban and rural areas, through the adoption of a regulatory framework allowing the development of innovative and lower-cost channels, in particular mobile banking ;
- Improving access to microfinance.
Major Achievements:
- Validation of the National Financial Inclusion Strategy. The financial inclusion rate is 67% in 2021
- Expanded banking rate of 54% in 2021
- Implementation of financial education activities for the benefit of populations
- Development and validation of the letter of sectoral policy and development of microfinance and the social and solidarity economy
Outlook 2023:
- Validation of the law regulating SFDs
- Mobilization of financial resources for the implementation of the National Financial Inclusion Strategy and the Sector Policy and Microfinance Development Letter
