As part of the WAEMU Financial Inclusion Week, a high Tuesday at the headquarters of the Central Bank of West African States (Bceao). The theme was on
"Promoting financial literacy for increased consumer protection".
Taking part in this meeting, the Swiss Ambassador to Senegal recalled the risks associated with the
digitalisation of financial services, calls for consumer protection.
"The challenge in the context of financial inclusion today is not only to facilitate access to services
financial, but also to ensure that these services do not harm their users by
causing money to be lost or indebted.
The digitalization of financial services, through the use of smartphones in particular, also poses a new risks, such as extortion or identity fraud.
It is therefore important to better protect consumers against abuse but also to ensure that they are treated fairly by financial service providers," says Weichelt Krupski
Marion.
According to the diplomat, good protection practices require customers to be informed about
the terms and conditions of use of the products.
"That the comparison between offers be made easier so that consumers can take
informed financial decisions.
In addition, rules should be introduced limiting abusive and facilitating commercial practices
access to redress mechanisms," Marion recommends. She congratulated the Bceao for the
establishment of a regulatory framework for consumer protection.
She did not fail to recall the importance of financial education in risk prevention, in
especially over-indebtedness and financial losses. She says that better understanding products
allows individuals to make decisions that are more tailored to their personal circumstances.
Weichelt Krupski Marion reflected on her country's commitment to financial inclusion in
WAEMU.
"As you know, Switzerland is strongly committed to the financial inclusion of people
in WAEMU.
As you will recall, it signed an agreement in May of this year for an amount of more than 2
billion and a half FCfa with the Bceao to support the implementation of the financial inclusion policy
regional.
This agreement complemented a first contract signed with the Swiss Capacity Building Facility (SCBF) for
2.4 billion CFA francs.

It has since been supplemented by further support to the Social Performance Task Force (SPTF) for an amount of
more than 600 million FCfa," she recalled. This support for and prevention of the risks of
in his opinion, financial education demonstrates the importance that Switzerland attaches to it.