Identifying financial sector development needs
The Making Finance Work for Africa Secretariat assists public and private financial sector stakeholders across Africa in identifying financial sector development needs. Stakeholder engagement activities aim at informing development partners’ decisions and improving the alignment of available expertise and funds with financial sector development priorities on the ground.
MFW4A encourages country-owned financial sector development initiatives and maintains close ties with country, regional and continental authorities.
- African Union Action Note on Advancing the Microfinance Sector in Africa
At the request of the African Union (AU), the MFW4A Secretariat convened development partners with project experience in microfinance at the AU Headquarters in Addis Ababa in September 2009. The meeting aimed at providing the AU with strategic guidance on the challenges and opportunities facing the microfinance sector faces in Africa. Development partners offered comments on the AU Roadmap and Plan for Action for Advancing the African Microfinance Sector, which was ultimately endorsed by the Conference of African Ministers of Economy and Finance (CAMEF) in December 2009 and the AU Summit of Heads of State in February 2010.
- Committee of Ten: Letter to the Financial Stability Board
The MFW4A Secretariat coordinated the production of a background document and key-issues note on the impact and implications of a changing international financial architecture on African banking systems. These documents formed the basis for the letter sent by the Committee of 10 (C10) to the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS), highlighting the challenges that Africa faces in the context of a revised international regulatory framework. The C10 is composed of ten representatives from African central banks and ministries of finance and advises the South African presidency in the framework of the G20 working agenda on reforming the global financial architecture.
The Secretariat assists financial sector stakeholders in channeling requests for funding and technical assistance to MFW4A Development Partners.