Redefining the role of savings banks in Africa

Sep 10, 2013

The West African sub-regional group of the World Savings Banks Institute (WSBI) organized a meeting in Ivory Coast, during which experts and policy makers discussed the institutional reforms needed for savings and retail banks.

The West African sub-regional group of the World Savings Banks Institute (WSBI) organized a meeting in Ivory Coast, during which experts and policy makers discussed the institutional reforms needed for savings and retail banks.

The participants tried to define the role of African savings in the global banking landscape and analyzed the future strategic transformations of these entities as well as possible reforms in the current legislation.

Many savings banks find it difficult to find a prominent place in their environment, especially due to the lack of acknowledgment by authorities of the importance of savings and retail banks for the national economy, according to experts.

They also cited obstacles such as large liabilities, the absence of significant investment and regulatory constraints, Notre Voie newspaper reports.

WSBI's Director Chris De Noose has therefore stressed the importance of institutional reform to strengthen the competitiveness of African savings banks in their area of activity.ADNFCR-2976-ID-801635499-ADNFCR