In November 2019, the Central Bank of West African States (BCEAO) organized, for the second consecutive year, the week of financial inclusion. This regional event is an opportunity for countries in the subregion to take stock of the evolution of digital financial services (NFS).
The various workshops organized during the week allow us to see the state of financial inclusion and the gap that needs to be filled in order to reach the 75% rate targeted by the BCEAO within a five-year horizon.
During this event, UNCDF held the last session of 2019 of the working group on digital finance in Senegal. During the session, UNCDF reviewed the evolution of the digital finance market. The sector is doing quite well: 38% of adults are actively using digital financial services (DFS) at the end of 2018, according to the BCEAO report. And as of November 2019, there are no less than 15 mobile banking offers and 6 mobile money offers on the market. NFS providers are shifted from access to NFS. Everyone’s priority is to launch innovative services to improve the use of NFS.