The Governor of the Central Bank of West African States (Bceao) , Mr. Tiémoko Meyliet Koné and the Swiss Ambassador to Senegal, Dr. Marion Weichelt Krupski signed, this Monday, May 13 in Dakar, a convention of financing amounting to 3.911 billion CFA francs. This financial windfall, of which 2.520 billion FCfa are from the contribution of the Swiss Confederation and the remainder, i.e. 1.391 billion FCfa, at the expense of the BCEAO, is part of the implementation of the Strategy. regional financial inclusion in WAEMU .

The Swiss Confederation has just materialized its commitment made following the round table of donors organized in 2016 to participate in the financing of certain activities of the WAEMU Regional Financial Inclusion Strategy.

Its accredited ambassador in Dakar, Dr. Marion Weichelt Krupski, signed with the governor of the BCEAO , a partnership agreement for an amount of 3.911 billion F CFA. The 2.520 billion F CFA of this envelope represents the contribution of his country and the remainder, ie 1.391 billion F Cfa, is the responsibility of the Central Bank.

The BCEAO government, Mr. Tiémoko Meyliet Koné, believes that this act enshrines, in fact, the reaffirmed will of the Swiss Confederation to contribute to the well-being of the populations of the WAEMU countries through financial inclusion.

Thus, he underlines, the main actions planned within the framework of this partnership concern, in part, the strengthening of financial education and consumer protection; and for the other, the establishment of a fiscal framework and policies conducive to financial inclusion.

In the same vein, the Swiss Ambassador in Dakar recalls that this present contribution is one of the three components of his country's support to enable more farmers, livestock breeders, women and young people to make better use of savings, credit and insurance.

This, in his opinion, will also enable them to increase assets to mitigate shocks caused by emergencies, illnesses, accidents and to make productive investments.

Ms. Krupski confides that a first contract has been signed in this direction with the Swiss Capacity Building Facility (SCBF) , a non-profit organization, which helps to create financial products adapted to the needs of populations.

Another contract is planned with the Social Performance Task Force (SPTF) , also a non-profit organization, whose mission is to make financial services safer and more advantageous for customers.

This last structure is, according to the Ambassador, specialized in training the population in the good knowledge and better use of financial products but also protects them from over-indebtedness and toxic products.

5.5 billion CFA francs from Switzerland over five years

The Governor of the BCEAO took this opportunity to recall that financial inclusion is today a challenge at the heart of the concerns of public authorities, particularly in developing countries.

As such, underlines Tiémoko Meyliet Koné, the WAMU Council of Ministers made it a priority by adopting in June 2016, the framework document of regional financial inclusion policy and strategy in order to promote the emergence of a financially educated population.

A document which was accompanied by an action plan, and structured around five strategic axes and a budget of 30 billion F Cfa, including 2.27 billion F Cfa as the financial contribution of the BCEAO .

After this first Swiss contribution, Dr. Marion Weichelt Krupski announces that in total, more than five and a half billion CFA francs will be contributed by the Swiss Confederation to the implementation of the Regional Financial Inclusion Strategy for the next five years. (2019-2023).

It thus hopes that this act by the Swiss Confederation and the BCEAO will mark the beginning of a more intense collaboration between the two parties, in particular through the Regional Steering Committee for the Financial Inclusion Strategy.

Ms. Krupski advised of her country's interest in actively participating in the activities of the said Committee to share its experiences from other regions in terms of financial inclusion.

Thus, in the WAEMU countries where there are Swiss cooperation offices, she said, her country is committed to taking part in the activities of the national committees for monitoring the implementation of the inclusion strategy. financial.

With this signature, she underlines, Switzerland is reaffirming more generally its commitment to regional integration in West Africa.

“Our support for the BCEAO's financial inclusion strategy is indeed one of the axes of our regional approach which aims to improve the living conditions of the most vulnerable populations. This reinforces our support for the implementation of the ECOWAS agricultural policy as well as that of the marketing of livestock in West Africa” .

According to the Swiss Ambassador, his country intends to contribute to the resolution of the region's challenges by promoting the achievement of sustained and inclusive growth, thus effectively fighting poverty.

An objective which, according to the governor of the BCEAO , will go through the fact of allowing the populations to have access to a range of diversified financial products and services which must be adapted to their needs and at affordable costs.

For Tiémoko Meyliet Koné, the achievement of this objective will be difficult to achieve given the low level of literacy and financial education of our populations.

It is for this reason, he reassured, that the regional strategy includes specific actions to ensure judicious and optimal use of financial services thanks to a better knowledge of the populations.

The head of the BCEAO remains convinced that this agreement with Switzerland will contribute to resolutely registering this cooperation in a new dynamic more promising for actions likely to further hoist their partnership for their ambitions by contributing strongly to the well-being of the populations of the union. .