Leveraging the Inclusive Innovation framework to achieve increased outreach of digital remittances in Senegal

Building on the Migrant Money experience over the last few years, UNCDF and Haske Conseil have developed a migrant-centric and gender-responsive framework to guide the inclusive innovation strategies of Remittance Service Providers (RSPs). The framework provides a template for assessing the remittance ecosystem and value-chain in a particular country; a ‘how to’ guide to inclusive innovation within the specific context of digital remittances and remittance-linked financial products; and a template for drafting country-specific roadmaps for leveraging innovation in the remittance ecosystem through financial and technical support. The framework has been applied in four countries to create country-specific strategies for Nepal, Bangladesh, Ethiopia, and Senegal.

The Senegal Inclusive Innovation Country Strategy webinar will offer a common platform and present an opportunity for all key stakeholders to come together and deliberate upon, in light of the Inclusive Innovation Framework, the following:

• How can the National Financial Inclusion Strategy implementation leverage the inclusive innovation framework to achieve an impact on remittances and financial inclusion?
• What arrangements to put in place to simplify and enable the private sector to get a better understanding of regulations pertaining to digital remittances and remittance-linked financial services, especially in the authorization of non-bank players?
• How can investments for research and development and inclusive innovation be mobilized and channeled for private sector remittance players?
• What is the nature and required level of support required from BCEAO and the government to help the private sector remittance players increase outreach and services to underserved migrants and their families?
• What kind of incubators or accelerators would help private sector remittance players to innovate and reach the underserved segments?