Financial inclusion is gaining ground in Senegal. The rate of people using financial services jumped 10 percentage points from 69.15% in 2018 to 79.04% in 2020.

According to the national director of the Central Bank of West African States (BCEAO), Ahmadou Al Aminou Lô, Senegal is making a leap forward in its ambition to include more people in the financial system. Indeed, between 2018 and 2020, the country saw a 10 percentage point increase in adults who were financially included. "The overall rate of use of financial services has thus increased from 69.15% in 2018 to 79.04% in 2020", declared, Thursday in Dakar, Ahmadou Al Aminou Lô, chairing the workshop for prioritizing the actions of financial education.

According to the Organization for Economic Co-operation and Development (OECD), financial education is the process by which consumers or investors improve their knowledge of financial products, concepts and risks, acquire through information, or objective advice, the skills and confidence necessary to, among other things, become more aware of financial risks and opportunities. Ahmadou Al Aminou Lô also spoke about the challenges related to building the capacities of the target groups of the regional financial inclusion strategy on good practices in responsible finance and the use of technology to scale up EF actions.