Economics, Econometrics and Finance
4 years ago

Africa's Financial Sector Transformation: Fostering Innovation and Expanding Access

RePEc: Research Papers in Economics
Financing Africa: Through the crisis and beyond
Thorsten Beck, Samuel Munzele Maimbo, Issa Faye, Thouraya Triki

Paper Summary

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The article "Financing Africa: Through the crisis and beyond" suggests a new approach to developing Africa's financial sector. The main focus is on increasing competition in banking and financial services to encourage innovation. This involves being more open to new players and products, and expanding services to reach more people, especially those who are not currently using traditional banks. The key idea is to adapt financial policies to each country's specific needs and context, while also considering regional integration and technology. By doing this, Africa's financial sector can better support the continent's growth and development.