Niger on Saturday held a conference on the occasion of the 40th anniversary of the African Solidarity Fund (FSA).

It is a multilateral financial institution whose mission is to participate in the economic development of member states* by facilitating the financing of investment projects in both the public and private sectors.

During the work, togolese Félix Edoh Kossi Amenounve, Director General of the BRVM (Regional Exchange Common to WAEMU Countries) gave a presentation on the FSA, the development of financial markets and financial inclusion.

The head of the Stock Exchange recalled that financial markets contribute to accelerating the economic development of a country or a region as evidenced by numerous examples around the world.

The BRVM also contributed to the consolidation of growth in WAEMU economies driven by infrastructure investments made through bond issues.

With regard to financial inclusion, beyond the facilitation of transactions, it must consist in offering the public innovative solutions for remunerated savings.

"One of the major challenges facing African financial systems is that of being able to rely on technology to promote the collection of savings from households and the Diaspora  in order to direct them towards productive investments. Guarantee bodies could also develop new products to cover  small issues (basket bonds) by SMEs," Amenounve said.

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 * The FSA currently has 14 Member States: Benin, Burkina Faso, Burundi, Central African Republic, Chad, Côte d'Ivoire, Gabon, Guinea Bissau, Mali, Mauritius, Niger, Rwanda, Senegal and Togo. Its headquarters are located in Niamey, Niger