SADC FI Forum 2019
Four years ago, SADC committed itself to regional financial inclusion strategy which seeks to provide a benchmark document that Member States can use in the development and monitoring of their own national strategies. The SADC FI Forum 2019 will provide recommendations on how SADC can move forward in operationalising the strategy to drive financial inclusion in the region.
AIM OF THE FORUM
The overall aim of the Forum is to collectively:
- Confirm the needs and drivers for financial inclusion in the region and what further interventions are needed to drive the strategy forward.
- Present success stories in the region as part of the learning agenda
- Reflect and build on the 2016, 2017 and 2018 Forum.
- Provide feedback on strategy implementation
The Forum will also be based on evidence, best practices, and emerging trends around these key themes: quality of financial inclusion including consumer empowerment, the benefits derived from financial services – particularly for the low-income segment; risk based bank supervision, innovation and technology; policy and regulations and role of public and private sector in regional financial integration and market integration.
By engaging with multiple stakeholders, the forum aims at increasing the momentum toward deeper financial inclusion. This will be achieved by:
- Providing an opportunity for sharing knowledge and best practice between public and private sector stakeholders, forging a strong alliance to enhance access to finance for the poor in a responsible way. It will also take stock of the various policy initiatives at country level to promote financial inclusion and the impact on the livelihood of the most vulnerable sections of the population.
- Facilitating broader understanding of innovative financial inclusion, including the current status of digital finance and adoption of technology across the world, and opportunities for innovation to address financial inclusion challenges in SADC;
- Demonstrating best practice and key lessons learned in innovative product design, sustainable business models and the effect on financial inclusion in terms of improving access, usage, and quality;
- Supporting innovation and environments to facilitating a sandbox environment to assess new technologies and innovations
CONCLUSION AND EXPECTED OUTCOMES
It is expected that the SADC FI Forum will lead (i) to deeper-level dialogue between the public and private sector to achieve financial inclusion by working together in specific areas, such as innovations in digital identification, affordable access and uptake of financial services (ii) increased coordination within SADC on policy harmonization for enhanced financial inclusion (iii) ease of cross-border payments and remittances (iv) sharing of best practices on mitigating the risks of financial inclusion/exclusion and over-indebtedness and (v) innovation for increased financial inclusion.
The SADC FI Forum event was hosted digitally on our digital partner and event platform Eventee. Follow the link to learn more about https://eventee.co/en