CBS assumes vice-chairmanship of the African Financial Inclusion Policy Initiative |22 August 2020

Governor Caroline Abel, new vice-chair of the AfPI

The Governor of the Central Bank of Seychelles (CBS), Caroline Abel, is the new vice-chair of the African Financial Inclusion Policy Initiative (AfPI).

Part of the AFI network, AfPI is a platform that allows African leaders of policy-making and regulatory institutions to discuss pertinent financial inclusion issues and promote the implementation of innovative and effective solutions.

Governor Abel was elected on the last day of the 8th Annual AfPI Leaders Roundtable, held virtually from August 17 to 20, 2020.

The meeting was being co-hosted by the Bank of Tanzania and the Alliance For Financial Inclusion (AFI).

Discussions during the four-day meeting focused on some key topics that are of particular importance to the member countries and the region, such as policy response support being provided by AFI to its members in the Africa region due to Covid-19.

Approaches to enhance MSME access to finance, the importance of creating robust channels to deliver digital financial services particularly to those with lower income, as well as policy options to accelerate the financial inclusion of disadvantaged groups and disproportionately excluded communities were also discussed.

In her remarks upon being elected vice-chair of the regional platform, Governor Abel noted that the areas that AfPI is currently focused on are especially important as the world reacts to the new realities and challenges to the financial landscape.

“Our mandate comes at a time when the world is facing an unprecedented crisis – the Covid-19 pandemic – that has highlighted the need to accelerate the use of digital financial services as an enabler of financial inclusion. This new environment, although challenging, presents us with an opportunity to be innovative as we work to develop smart policies that will allow us to fulfil our objectives. Greater collaboration and in some instances, unconventional thinking and approaches will be needed, as we strive to formulate policy responses that are targeted and relevant, in light of the realities of our respective countries,” said Ms Abel.

The governor also acknowledged the work done by the outgoing chair, Governor of the Central Bank of Guinea, Dr Louncény Nabe, and congratulated the incoming chair, Professor Florens Luoga, Governor of the Central Bank of Tanzania.

The chair and vice-chair of the AfPI platform serve a two-year term. At the end of the tenure, the chair is replaced by the vice-chair, and a new vice-chair is elected.

Press release from the CBS