The important role of financial cooperatives and other forms of cooperatives in the rural banking system is increasingly gaining prominence. The Government of Kenya underscores cooperatives as key pillars in its Bottom-up Economic Transformation Agenda (BETA). The week-long strategic workshop was convened by the Presidentsā Economic Transformation Secretariat (PETS) in collaboration with the newly formed State Department for Cooperatives and...
In many African countries Central Banks have been the coordinating entity involved to formulating financial inclusion strategies for their respective countries. Tanzania has launched its third framework, the National Financial Inclusion Framework 2023 ā 2028, building on the success recorded after the implementation of the second Framework, which ended in December 2022. Implementation of the new framework is expected...
On behalf of the AFRACA network and Executive Committee (EXCOM) we celebrate and express our sincere gratitude to Dr. Jesimen Chipika, Deputy Governor, Reserve Bank of Zimbabwe and Chairlady of the AFRACA Executive Committee for her exemplary service to the Association. Your Bank assumed office in AFRACA as Chair in February 2021 with a new team of Executive Committee Members at...
As Dr. Patrick Njorogeās tenure came to a close at the Central Bank of Kenya, CBK, AFRACA gives special tribute and remembers his strong commitment and willingness to support the Associationsā activities. Dr. Njoroge was appointed the ninth Governor of the Central Bank of Kenya on June 26, 2015 with his eight year tenure as CBK boss coming to an...
The Market Insight study was based on wide consultations with industry stakeholders over a five-month period. The study centered on the Kenya credit ecosystem and the implications of using alternative data (non-traditional) to prudently extend credit access to micro and small enterprises (MSEās) in Kenya. The study acknowledges the availability of pockets of alternative data (not-traditional) available in different forms and...
The AFRACA Executive Committee, EXCOM continued to exercise its oversight role to ensure proper governance of the Association. As has been the norm, the EXCOM meets twice every year. It was full house as the Central Bank of Kenya hosted the 88th AFRACA EXCOM meeting in Nairobi with all sub-regional chairpersons represented. In her opening statement, the Chairperson made note of...