Many African countries have undergone a series of financial sector reforms aimed at modernizing and bolstering the performance of financial systems in the past two decades. Whilst these reforms have resulted in substantial improvement in African financial systems, large gaps remain. And the gaps are particularly more important in economies in fragile situations. Data shows that financial sector performance indicators are significantly lower in countries affected by fragility than in the rest of countries not severely affected by fragility in Africa.
Addressing these gaps is a matter of urgency. Currently, Africa has up to twenty (20) member states severely affected by high levels of fragility, according the AfDB fragility-risk rating criteria. Development prospects of these countries are particularly limited by fragility-risk. Building effective financial systems, can help overcome this risk by creating an environment conducive for job creation, infrastructure development, and for the development of entrepreneurship and small businesses, which are the conditions most relevant to reducing a country's levels of fragility. Financial sector development in fragile situations can also help to promote financial inclusion, thereby contributing to building more resilient societies through inclusive and equitable access to economic opportunities.
It is against this background that the MFW4A Secretariat, the AfDB (through its Transition Support Department, Financial Sector Development Department and the Initiative for Risk Mitigation in Africa), FSD Africa, and FIRST Initiative, are convening a Regional Conference on June 28-29, 2016, in Abidjan, Côte d'Ivoire, to examine how best governments, development partners and the private sector can contribute to developing and expanding effective financial systems in African countries facing fragile situations. The conference targets around 150 participants.
Download the Concept Note.
Download the tentative Agenda of the Event.