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Market System Assessment of Digital Financial Services in WAEMU

Sep 30, 2016 | T. Vasudevan, E. Lahaye, C. Riquet et al. | CGAP
In 2015, BCEAO published guidelines for e-money that replace the 2006 framework and that will influence how DFS markets develop in WAEMU going forward. CGAP undertook the task of updating its understanding of the market for DFS in WAEMU and share learnings with key stakeholders. Broadly, the study aimed to do the following: • Map the market system for DFS in WAEMU, including key actors in supply and demand, rules (e.g., regulations for e-money, telecommunications, competition) and supporting functions (e.g., agent networks, information providers); • Identify systemic constraints or root causes that explain why the DFS market is not fully meeting the needs of low-income populations; and • Identify opportunities for stimulating systems-level change.