Senegal: BCEAO wishes to bring the rate of access to banking services to 20 percent

Aug 05, 2011

The Central Bank of West African States (BCEAO) is to launch a large campaign to raise the level of access of banking services in Senegal.

The Central Bank of West African States (BCEAO) is to launch a large campaign to raise the level of access of banking services in Senegal.

This announcement was made during a conference organised by Le Réseau Socioprofessionnel pour l'Afrique and Diaspora Dakar Networking on Thursday.

BCEAO aims to raise the level of access to banking services in Senegal from 6 to 20 per cent by 2015, its national Vice-President Djibril Camara was quoted by Le Soleil newspaper as saying

The Chief Executive Officer of International Commercial Bank Philippe Kpenou believes management fees are discouraging people from opening a bank account and said several banks have now scrapped these charges.

Experts mentioned other difficulties during the meeting, such as cultural barriers and the low density of the BCEAO network.

It was also announced this week that the PR campaign promoting the benefits of banking services and payment methods in the UEMOA region, launched in 2010, will be closed Tuesday August 9th.

This will be an opportunity "to inform all actors involved in the campaign, so that they act on the long-term the findings of this campaign", explains a press release from the institution published by APS news agency.
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